Are you saying this is fake? Hoping it’s fake? What?deep fake
Are you saying this is fake? Hoping it’s fake? What?deep fake
@jethreauxdawg , that so few Americans understand this simple historical truth, is a primary reason we are completely screwed. Its also a simple explanation of why Andrew Jackson is so demonized in “modern higher education”. God bless him, he tried.Jekyll Island. Owners of the Fed
a joke. I didn't view the video. I don't have any way to discern deep fakes unless it is obviously manipulated or way off brand. I'm awaiting the online tool that let's you check such things. I'm almost certain that nobody who views a video that supports their current worldview will use that tool...Are you saying this is fake? Hoping it’s fake? What?
So, the government can print money? But the government also borrows money? Where does the printed money come from? Where does the borrowed money come from? Where does it go? I find this confusing. I know there are people on this board that understand economics better than me. Explain it to me like I'm105.
So, the government can print money? But the government also borrows money? Where does the printed money come from? Where does the borrowed money come from? Where does it go? I find this confusing. I know there are people on this board that understand economics better than me. Explain it to me like I'm105.
TLDRI did some more research on how our money works. I found these visuals helpful:
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Not taxing people is not giving it away. It is not taking it away. I’m shocked you’d even make that statement.Which free sh`it to you want to eliminate? Like mortgage interest deductions, the low tax rate on corporate gains & dividends, employer insurance contributions, child credits, pension/IRA contributions?
You're correct, those would total well over 1 trillion a year. Lotta folks not gonna be happy though., good luck.
“The best argument against democracy is a 5-min conversation with the average voter.” - Sir Winston ChurchillEdit: if you don’t want to watch something like this and take more than five minutes to understand this problem, you’re part of the problem since you also likely do as much research into who you vote for.
Cut out all the free **** they give away here in the United States and around the world, the US Government would have a surplus and pay more to the national debt more than the 1 trillion of interest each year. There is enough revenue to do that.
Which free sh`it to you want to eliminate? Like mortgage interest deductions, the low tax rate on corporate gains & dividends, employer insurance contributions, child credits, pension/IRA contributions?
You're correct, those would total well over 1 trillion a year. Lotta folks not gonna be happy though., good luck.
I am just making a statement.
With the standard deduction being $27k, few people even benefit from the mortgage interest deduction. I’ll bet you don’t. Maybe for MS purposes but not federal.Not taxing people is not giving it away. It is not taking it away. I’m shocked you’d even make that statement.
If you take it from me and don’t give it to Haiti and instead pay down our debt, that’s a lot damn different than not taking it from me because I have a mortgage interest deduction.
With the standard deduction being $27k, few people even benefit from the mortgage interest deduction. I’ll bet you don’t. Maybe for MS purposes but not federal.
Hardly a simple answer, but this was the best eye-opening doc I’ve seen on the subject.
Edit: if you don’t want to watch something like this and take more than five minutes to understand this problem, you’re part of the problem since you also likely do as much research into who you vote for.
I run into this all the time. Not trying to be a dickk, but my patience is done with people who feign curiosity about a subject but don’t want to take more time than a TikTok clip to understand it.You're right, but you don't have to be a Richard about it
People who complain that the US is no longer on the gold standard are so totally ignorant of why we aren't on it, or so removed from reality, make it easy know when it would be a waste of time to further discuss the topic.
For in person discussions, these people get an 'Oh yeah? Huh. Well that would be one way to do things.' and then maximum effort on my part to change the topic to something less crazy.
The gold standard failed because gold's attributes lead to centralization.People who complain that the US is no longer on the gold standard are so totally ignorant of why we aren't on it, or so removed from reality, make it easy know when it would be a waste of time to further discuss the topic.
For in person discussions, these people get an 'Oh yeah? Huh. Well that would be one way to do things.' and then maximum effort on my part to change the topic to something less crazy.
My original post was tongue-in-cheek to get a discussion going. However, I do think that if we truly understand something, we should be able to explain it to a five-year-old.my patience is done with people who feign curiosity about a subject but don’t want to take more time than a TikTok clip to understand it.
What you listed is allowing people to keep money they have. That is hardly a gift.Which free sh`it to you want to eliminate? Like mortgage interest deductions, the low tax rate on corporate gains & dividends, employer insurance contributions, child credits, pension/IRA contributions?
You're correct, those would total well over 1 trillion a year. Lotta folks not gonna be happy though., good luck.
But when those same people expect their services and preferred govt spending to continue unabated?.....What you listed is allowing people to keep money they have. That is hardly a gift.
It is still not a gift, regardless of your statement. They may expect services for all of the other taxes being paid.But when those same people expect their services and preferred govt spending to continue unabated?.....
If anyone is getting something for less than it costs, then it's a gift. That they tell themselves that they're "owed" it doesn't change the reality.It is still not a gift, regardless of your statement. They may expect services for all of the other taxes being paid.
For example, I’m happy when I can keep the money I earned if a deduction is available. I also expect my roads to not have potholes and for emergency services to respond quickly if called upon. Both can be true at the same time.
I can’t imagine looking at anything more differently than this. What if congress passed a law that you are taxed at 100%? After all, it’s not your money. Then they spread out the money evenly with services regardless of how hard you work, if you work at all, or if you provide any value whatsoever.I
If anyone is getting something for less than it costs, then it's a gift. That they tell themselves that they're "owed" it doesn't change the reality.
I get some hefty deductions, and I appreciate them. But it's not my money, my taxes are my bill for running my country.
Which free sh`it to you want to eliminate? Like mortgage interest deductions,
the low tax rate on corporate gains & dividends,
Sure. It was always a stupid way to fix other stupid tax policy.employer insurance contributions,
Parents already get massively screwed with social security, and the screwing gets worse with every additional child you have. But I'd also be fine with replacing child tax credits with Social Security rebates. Probably need to make the employer side available also for the math to work for lower wage employees.child credits,
Unless you are talking about at the state level, 401k/457/403b etc. are all taxed when withdrawn, including the gains. It sort of converts an income tax into a quasi consumption tax. I'd be fine getting rid of roth treatment.pension/IRA contributions?
All of that would move tax policy in a slightly saner direction, but except for the child tax credit, none of it would even slightly change the fact that more than half the money the US spends each year are handouts. That ****'s not sustainable if we're going to have a military, fund infrastructure, pay interest on our massive debt, etc.You're correct, those would total well over 1 trillion a year. Lotta folks not gonna be happy though., good luck.
I am just making a statement. Bankruptcy for this country will not happen because they can stop giving money away and pay their bills without printing money if they have too.
Really sounds like you've got it figured out. Run go enact all this and let us know how Americans like it.Ignoring the fact that most of what you're referencing isn't free ****,
Sure. Phase it out. Already capped at what, $750k? Reduce the deductability like 3% a year. So 100% deductible this year, 97% the next, and so on. Gone in 30 years and change. That will unfairly benefit investment housing, which will get to deduct interest, but that's somewhat offset by the imputed income not being taxed.
Not really justifiable to allow one and not hte other from a principled standpoint, but the MID mainly just convinces stupid people to put too much money into housing.
Dividend rates are super high. Unless it's a nonprofit, you're paying pretty high taxes on dividends. Usually it's going to be in the 36% range. Even if somebody falls below the threshold for dividend taxation because of not showing much income, they're still probably paying 21%, which is higher than most people's average tax rate.
Sure. It was always a stupid way to fix other stupid tax policy.
Parents already get massively screwed with social security, and the screwing gets worse with every additional child you have. But I'd also be fine with replacing child tax credits with Social Security rebates. Probably need to make the employer side available also for the math to work for lower wage employees.
Unless you are talking about at the state level, 401k/457/403b etc. are all taxed when withdrawn, including the gains. It sort of converts an income tax into a quasi consumption tax. I'd be fine getting rid of roth treatment.
All of that would move tax policy in a slightly saner direction, but except for the child tax credit, none of it would even slightly change the fact that more than half the money the US spends each year are handouts. That ****'s not sustainable if we're going to have a military, fund infrastructure, pay interest on our massive debt, etc.
If there is a standard rate, and a taxpayer pays less - that taxpayer received a handout. All the mental gymnastics in the world cannot explain this away.Not taxing people is not giving it away. It is not taking it away. I’m shocked you’d even make that statement.
If you take it from me and don’t give it to Haiti and instead pay down our debt, that’s a lot damn different than not taking it from me because I have a mortgage interest deduction.
There is no "standard rate". There are tax brackets that apply to taxable earnings. Low income people aren't getting a handout because they're not paying 37% on any of their taxable income. There are deductions that are better or worse from a policy standpoint, but for the most part they are not handouts although I'm sure there are some that are particularly unjustifiable that might qualify. None of what you listed is even arguably a handout except for the child tax credits. And again, for people not receiving a "refundable" part of the tax credit, even then it's arguably just balancing out the screwing they get on FICA.If there is a standard rate, and a taxpayer pays less - that taxpayer received a handout. All the mental gymnastics in the world cannot explain this away.
Someone legally earning money and legally keeping it = handout?If there is a standard rate, and a taxpayer pays less - that taxpayer received a handout. All the mental gymnastics in the world cannot explain this away.
My son hates it when I don't let him have my credit card to buy unlimited Robux every month. He just doesn't understand it. But I'm still not going to let him do it. Someone has to be the adult and make good decisions.Really sounds like you've got it figured out. Run go enact all this and let us know how Americans like it.
The next time you find an economist who is being touted as "calling it" wrt to market conditions, go check his/her history and see if they haven't been calling for bull/bear market for pretty much ever and just got it "right" by virtue of sticking with their position long enough for market conditions to eventually line up with it.In fairness, economics is probably 80% feelings and vibes.
As an Econ grad this is 100 percent correct. It’s the inside joke with most economists. “It could happen this way, but then again it might not.”The next time you find an economist who is being touted as "calling it" wrt to market conditions, go check his/her history and see if they haven't been calling for bull/bear market for pretty much ever and just got it "right" by virtue of sticking with their position long enough for market conditions to eventually line up with it.
"Give me a one-handed economist. All my economists say 'On the one hand' and then 'on the other hand.'" Harry TrumanAs an Econ grad this is 100 percent correct. It’s the inside joke with most economists. “It could happen this way, but then again it might not.”