Democrats Get Thier Piddly 88 billion in tax raises. What then?

The yearly deficit is over 1 trillion. The total revenues brought in by the laughably symbolic tax increases equals 88 billion dollars.

What about the other 920 billion dollars? Where is that money going to come from? Bernie Sanders says he will never accept a single cut to any social program, period. That it will be dead on Arrival in the Senate.

So if Democrats are really interested in closing the yearlt deficits, where are we going to get the other 900 billion dollars?

900 billion from defense would gut our military and make it a useless non entity and practically a militia army incapable of moving anywhere around the world.

So if social programs are untouchable, defense is already being cut to the bone by over 400 billion. Where else is there money to be had?

 

Hussein Obama doesn't know. He is too dumb.

 

First of all, 920B is better than over 1 trillion, no?

That is 88 Billion the government won'y be borrowing. Not only that, but the market impact will drive the rate of return for government bonds down. But the people with that money will still be looking to invest. They will want better returns than the government offers. So, they will invest in the private sector driving down the returns on the most conservative investments and finally making startup capital more readily available. This is what happened in the 90s when the combination of budget cuts and tax increases collapsed the deficit and drove 10 years of growth.

We need to do entitlement reform. Most particularly we need to get rid of Obamacare and replace it with Medicare for all. Increase the Medicare tax to 8% for employees and 4% for employers.
Eliminate the 2% payroll tax cut
Expand the income level for medicare and SS taxes to $250k
Apply SS and Medicare taxes to the first $250k of unearned income for those under 65.
Cut defense spending by 20% and use that money for infrastructure projects like high speed rail, bridges and highways, nuclear power plants
Create government run hospitals/care centers where people could agree to have services provided and in return all out of pocket expenses would be gone. This eliminate the profit motive at the POS.

Lots of things to do but when you're first response is "no taxes and cut spending" then it it you who are in a box.

 

High speed rail is a colossal waste of money. Electrification of the existing freight rail mainlines would reduce oil consumption a lot more, but you gotta build the nukes first.

A Libertarian website identified $350 billion in old domestic programs that could be eliminated and not touch either entitlements or defense. Why are they so sacrosanct?

 

What will actually happen in the real world is that the Dems will more than offset the gain in revenue by finding at least another 176 billion in new spending. Probably to finance more green energy jobs that will quickly go overseas, as the company bailed out declares bankruptcy six months later after the sending half the money to a Caiman island account and donating the rest to the Democratic party.

Expand the income level for medicare and SS taxes to $250k.

Do you know why that won't happen and shouldn't happen? Because employers have to match SS and doing so under those circumstances would severly stress a whole lot of small and medium size businesses.

 

Punishment minded leftists will claim a victory for shrinking the "wealth-gap" and "fairness"....then whistle past Obamacare's 200 billion dollar deficit spending.

 

Let them raise taxes on the rich, this is hilarious.

When they find that it doesn't affect anything they are going to look like asses.

Its the best way to show how their policies are failures.

 

Right now the upper limit is about $108k. Less than 5% of the total workforce has incomes between $108K and $250K . In an "average small" business with, say, 1000 employees, that would be 50 employees making more than 108K. Presuming a distribution similar to a Tamann curve would put the average for those 50 workers at about $135k. or an extra $27K of taxed income. With SSI and Medicare employer portions at about 7.75% the cost for the "small business" would be around $105k. Again assuming the average for all employees is around $48k this increase this change would amount to an increase of 0.2% in the employers's labor cost.

The numbers just don't support your argument.

 

Yes, Eurorail demonstrates that on a daily basis.

Personally, I'm willing to listen to anything specific. Please, be specific.

 

Eurorail is a money loser. Haven't we had enough of these?

 

if it was piddly, why are republicans throwing such a fit over it, 88 billion times ten years is almost a trillion dollars, name one thing republicans want to cut that save the same amount

 

The purpose of public transportation is not to make money.

DoD is a money loser. Should we eliminate that.
Prisons are money losers. Should we eliminate prisons?
Elections are money losers. Should we eliminate elections?

 

Medicare?

ACA?

Food Stamps?

 

"...name one thing republicans want to cut that save the same amount"


Amtrak

Department of Education

Department of Energy

Bureau of Reclamation

Bureau of land Management

 

I say we figure out how much a month we spend on our wars (including the drug war), and end all of them and do some nation building at home with the money saved


.

 

Why not cut some regulations and let the private sector do the nation building?

 

Our infrastructure is not crumbling. That is a myth. We don't need to make busy work jobs. Why not build ghost cities like china? how about dams bilt with spoons?

There will never be a WPA or a CCC! America rich cannot bear the burden of taxatioon alone, which is pretty much what is happening.

 

You are an accountant right? You do realize that hen a company cuts costs it does so by reductions in a number of areas and a reduction on a single item / area / department does not do the trick itself but cumulatively the numbers can add up. Please do name one single item that will eliminate the deficit entirely.

You do realize that the US spends more on its defense than the next 19 nations combined? Could you please point out the person who said that the defense budget should be cut by 900 billion. A quote with link would be nice.

Meh. I did rather have my money spent to put food on someone's table than have it used to kill someone.

 

Entitlements

 

Yup. That would do it.

Entitlement outlay is equal to all revenues taken in.

 

Would they be the ones given to the rich or to the poor?

 

There are currently 75 active duty brigade combat teams, 12 carriers with escorts, and a few thousand old ass fighters and bombers.

Please Mr. Defense funding expert. How many Brigade Combat Teams does America need to meet all of treaty commitments? How many Carriers are you willing to scrap? How many figher squadrons and bomber wings should we get rid of? Don't just say "we spend more than 19 countries" without knowing (*)(*)(*)(*) well what its being spent on, the obligations to every other nation we have, etc. It is ignorant unless you have a plan that states exactly what mission profiles and regions of the planet you are willing to completely abandon.

Well the vast majority of the people who are being killed would love to kill you.

 

If I were king I would also slash defense by about half. It needs to be reworked to face current threats. There is no reason we need divisions of tanks and artillery on ready. Budget problem solved....next

 

This is why the cons have put so far in debt. They think $88 billion is piddly.

 

[/QUOTE]

We need to increase naval operations actually. We also need to go to a more special op force rather than infantry based.

We need to scrap the majority of our air command and go to remote technology.