Boehner 'not confident' that Congress, Obama will strike debt deal

Sep 11, 2012 Full story: thehill.com 26

House Speaker John Boehner on Tuesday said he was "not confident at all" that Congress and the White House could strike a major debt deal, hours after Moody's threatened a credit downgrade next year absent an agreement.

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“Open your eyes”

Since: Sep 09

Central Florida

#25 Sep 12, 2012
Justin wrote:
<quoted text>
All this debate and conflict over the national debt limit is ugly, but I think it's also constructive. I also think we should raise taxes across the board for all income brackets: rich, middle, and poot. Not because I think we don't pay enough taxes, not because I'm in favor of supporting federal programs, but because it would draw even more attention to, and create a public backlash against, federal spending.
Ronald Reagan in 1984 appointed the GRACE Commission to determine where tax revenues go. It was their determination that 100% of all tax revenues did not go to government services. All 100% of tax revenues went to pay the interest on the national debt. In other words 100% of all tax revenues went to the bankers.

Since: May 11

Location hidden

#26 Sep 12, 2012
Robert wrote:
<quoted text>
And increasing debt, which we have been doing to the tune of 1 trillion a year, increases the percentage of our annual budget which we have to pay on the amount we owe. This cuts into the funding for everything else.
The Medicare Part A already payouts already exceed the program's tax revenues, and social security payouts exceeded payroll taxes in fiscal 2010. These deficits require funding from other tax sources or borrowing.
The Government Accountability Office (GAO) projects that payouts for social security and medicare will significantly exceed tax revenues over the next 75 years.
There has to be a point where you say we can't keep borrowing or money will become nothing but debt and nobody will want it. Perhaps we need to have a ceiling to the debt ceiling.

Then quite f*cking paying for wars we don't need to be in!!!! THAT, in and of itself, has put us debt like nothing we've ever seen.

Quite taking tax payer money away from taxpayers and spending it overseas when the tax payer is the one who needs it!!

Understand it now?

Since: May 11

Location hidden

#27 Sep 12, 2012
Justin wrote:
<quoted text>
All this debate and conflict over the national debt limit is ugly, but I think it's also constructive. I also think we should raise taxes across the board for all income brackets: rich, middle, and poot. Not because I think we don't pay enough taxes, not because I'm in favor of supporting federal programs, but because it would draw even more attention to, and create a public backlash against, federal spending.
You're right and wrong. I agree we need for attention on federal spending, but for God's sake the attention that's being drawn is on all the wrong things. The only federal spending being supported is that which makes the rich richer - namely war.

I don't know about you...but I didn't create this abortion. I didn't tell these jackasses to spend until nothing is left. I don't think I should have to pay to clean up THEIR mess. They've been spending money like there's no tomorrow for years and years. Let THEM all contribute and pay US back.

Since: May 11

Location hidden

#28 Sep 12, 2012
Justin wrote:
<quoted text>
The 43% who currently have net zero federal tax liability are insulated from the consequences of federal spending and debt, and are reliable Obama supporters.
The more people who pay taxes, the fewer people who vote for Obama.
It's sort of like reverse psychology: I'm opposed to government spending, so I'm advocating that we make everyone pay for government spending, so everyone will then start voting against spending.
Who ARE those 43%?
Eleanor

Mundelein, IL

#29 Sep 12, 2012
PayThat CEO wrote:
<quoted text>
Who ARE those 43%?
Who ARE those who don't pay federal taxes??

"A couple with two children earning less than $26,400 will pay no federal income tax this year because their $11,600 standard deduction and four exemptions of $3,700 each reduce their taxable income to zero. The basic structure of the income tax simply exempts subsistence levels of income from tax.

Low incomes (or, if you prefer, the standard deduction and personal exemptions) account for fully half of the people who pay no federal income tax.

The second reason is that for many senior citizens, Social Security benefits are exempt from federal income taxes. That accounts for about 22% of the people who pay no federal income tax.

The third reason is that America uses the tax code to provide benefits to low-income families, particularly those with children. Taken together, the earned income tax credit, the child credit, and the childcare credit account for about 15% of the people who pay no federal income tax."

http://www.csmonitor.com/Business/Donald-Marr...
Justin

United States

#30 Sep 13, 2012
PayThat CEO wrote:
<quoted text>
Who ARE those 43%?
Who are the 43%?
The poor, the undocumented, working class families with kids, small business owners who barely break even, those wealthy whose income is derived from tax excepmt investments, etc. I'm talking about NET 0 federal income tax liability after deductions. Of course they pay other taxes like state, sales, and property taxes.

I'm not saying they deserve to pay more taxes, and I'm not saying they should pay a lot, just a small token amount. The point of this is not to incrase tax revenue, but to make sure that everyone "has skin in the game".

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