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From: suzeeq <suzeeq@imbris.com>
Newsgroups: rec.arts.tv
Subject: Re: Extending Trump Tax Cuts Would Add $4.6 Trillion to Deficit: CBO
Date: Tue, 14 May 2024 08:17:02 -0700
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On 5/14/2024 8:12 AM, Yak wrote:
> On 5/14/2024 11:02 AM, Baxter wrote:
>> Yak <yak@inbox.com> wrote in news:v1vml7$5qr6$2@dont-email.me:
>>
>>> On 5/13/2024 6:52 PM, Baxter wrote:
>>>> Skeeter <skeeterweed@photonmail.com> wrote in
>>>> news:66428aac$0$2363145$882e4bbb@reader.netnews.com:
>>>>
>>>>> In article <6642836f$0$6559$882e4bbb@reader.netnews.com>, "Charlie
>>>>> Glock"@localhost.com says...
>>>>>>
>>>>>> On 2024-05-13, Scout <me4guns@verizon.removeme.this2.nospam.net>
>>>>>> wrote:
>>>>>>>
>>>>>>>
>>>>>>> "Yak" <yak@inbox.com> wrote in message
>>>>>>> news:v1o9ok$24n0i$1@dont-email.me...
>>>>>>>> On 5/11/2024 8:05 AM, Scout wrote:
>>>>>>>>>
>>>>>>>>>
>>>>>>>>> "Ford Prefect" <hhgttg@galaxy.com> wrote in message
>>>>>>>>> news:v1m2r4$1hjhg$3@dont-email.me...
>>>>>>>>>> On 5/10/2024 5:02 PM, spaminator wrote:
>>>>>>>>>>> Ford Prefect <hhgttg@galaxy.com> wrote:
>>>>>>>>>>>
>>>>>>>>>>>> This one again?
>>>>>>>>>>>>
>>>>>>>>>>>> Let's assume what the CBO says is correct (you can't because
>>>>>>>>>>>> it doesn't
>>>>>>>>>>>> account for the increased tax receipts that occur under tax
>>>>>>>>>>>> cuts), the IRS would have collected $4.6 billion per year
>>>>>>>>>>>> (4.6B/year * 10 years = 4.6T).
>>>>>>>>>>>
>>>>>>>>>>> ROFL. Your arithmetic skills are broke. Back to 3rd grade for
>>>>>>>>>>> you.
>>>>>>>>>>
>>>>>>>>>> What's broke? Or were you educated at a public school?
>>>>>>>>>
>>>>>>>>> 4.6B/year * 10 years = 46B
>>>>>>>>>
>>>>>>>>> On the other hand, lets point out that difference is irrelevant
>>>>>>>>> given the sort of deficits the government is, has, and will
>>>>>>>>> continue to produce.
>>>>>>>>>
>>>>>>>>> We need to eliminate the power of government to add or increase
>>>>>>>>> any taxes.
>>>>>>>>>
>>>>>>>>> They get 15% of the GDP (federal, state and local) and they have
>>>>>>>>> to live within their means like everyone else.
>>>>>>>>>
>>>>>>>>> Currently that would allow all levels of government to spend
>>>>>>>>> $3.81 Trillion.
>>>>>>>>>
>>>>>>>>> Another 5% would be applied directly to paying down the existing
>>>>>>>>> state and national debts (and would not apply to new debt)
>>>>>>>>>
>>>>>>>>> The FIRST budgetary item would be to pay the interest on any new
>>>>>>>>> debt and paying off 5% of the principle of such debt.
>>>>>>>>>
>>>>>>>>> The Secondary budget item would be to service of any bonds sold
>>>>>>>>> to the public to finance large government projects.
>>>>>>>>>
>>>>>>>>> The FINAL budget item would be pay for the elected officials.
>>>>>>>>>
>>>>>>>>> In short, if the government is going into debt.. they don't get
>>>>>>>>> paid.
>>>>>>>>>
>>>>>>>>> Further they are prohibited from having any other sources of
>>>>>>>>> income.
>>>>>>>>
>>>>>>>> Let's take it even another step further. According to the CBO the
>>>>>>>> total deficts from the beginning of the Trump tax cuts, and
>>>>>>>> extending them through 2033, is about $31 trillion. Subtract the
>>>>>>>> $4.6 trillion Trump tax cuts and you still have $26.4 trillion. Am
>>>>>>>> I supposed to feel better about this? Especially considering, as
>>>>>>>> Ford correctly noted, even if the govt collected it they would
>>>>>>>> spend it anyway.
>>>>>>>
>>>>>>> As I said limit government spending to a percentage of the GDP. If
>>>>>>> officials exceed those limits there are consequences.
>>>>>>>
>>>>>>
>>>>>> Both parties spend like drunken sailors and it needs to stop. My
>>>>>> issue is more of a what are they spending my tax dollars on? Are
>>>>>> these bills productive or are millions of dollars set aside to study
>>>>>> how chickens mate?
>>>>
>>>> In the 50's and 60's we taxed the rich to pay for out spending.  We
>> can
>>>> do it again..
>>>
>>> The rich are already taxed.
>>>
>> Many of the rich don't pay any taxes.
> 
> Many of the non-rich don't either.
> 
Yeah, because they don't make enough money to owe taxes.