Wll their be a Tax hike

[Muscle Master]

Since my money is being handed out on a silver platter ..., when will we see a tax hike, I mean how is the gov. going to make up for this, I mean gov. gave out over a 1,000,000,000,000+ total... thats alot of zeros

All I hear, is billion this, trillion that .... lord

BTW- Guys, little to no politics, or you are going to get me chewed out by the mods

[Tactical Z]

Oh...you entered the wrong "there"

"their" is like "their roush", "there" is like over there, and "they're" is like they're posting.....

[Muscle Master]

Originally Posted by Tactical Z

Oh...you entered the wrong "there"

"their" is like "their roush", "there" is like over there, and "they're" is like they're posting.....

Always get that mixed up

[Tactical Z]

lolz, move that boat and put it right in there so you'll always remember.

kidding....will there be?

I'm not posting a 1000th time.

Btw good luck

[Muscle Master]

Most likely, The State of Delaware don't sound half bad right now

[Inspector 17]

Well, that is yet to be seen. Most of the money is coming from the government taking on debt by selling bonds to other countries. At some point, someone (us) is going to have to make up those interest payments. Up to now, people (other countries) have been willing and able to give the US money. If that willingness goes away before we get things back on track, we are going to see inflation on the rise very quickly. I doubt you will see any tax hikes (at least for the lower and middle class) in the near future. However, you might see the top 10% of taxpayers getting hit with either no tax break or tax increases. Doesn't make sense to me since they have lots of money to spend and I would think that you would want to give them all good reasons to go and spend it (e.g. tax breaks). Once things start to turn around, that's when you will see taxes increased in order to pay back the money we owe.

[mmarcum]

I'd be willing to bet we will see an increase in gas tax very soon.

[kdbolt70]

Tax cuts now to stem the economy. Once we get back on our feet, watch those cuts disappear.

[The_Blur]

Originally Posted by camaropete

Well, that is yet to be seen. Most of the money is coming from the government taking on debt by selling bonds to other countries. At some point, someone (us) is going to have to make up those interest payments. Up to now, people (other countries) have been willing and able to give the US money. If that willingness goes away before we get things back on track, we are going to see inflation on the rise very quickly. I doubt you will see any tax hikes (at least for the lower and middle class) in the near future. However, you might see the top 10% of taxpayers getting hit with either no tax break or tax increases. Doesn't make sense to me since they have lots of money to spend and I would think that you would want to give them all good reasons to go and spend it (e.g. tax breaks). Once things start to turn around, that's when you will see taxes increased in order to pay back the money we owe.

The logic is there, but the guys who would be raising the tax have to get reelected, creating a fundamental problem with electoral politics. Such politics are irresponsible because the debt problem never gets resolved. Every president from Reagan forward has seen increased deficit spending. Clinton was the closest of recent presidents to reaching $0 deficit spending. Bush has more than doubled any president's deficit spending, and Obama is now spending to keep the economic situation from getting worse.

Tax breaks don't work as intended in political science. They just get people reelected. That way, we can have the same creeps in office because they did one thing we liked.

One way to resolved the deficit spending is to stop contracting military operations. Using a slightly reduced military budget will free up money for the debt. The US military, while necessary, now gets more money annually than the world's combined forces. This is excessive spending for a country not at war with the entire world—just a thought.

[dbotsfordtat]

Originally Posted by camaropete

Well, that is yet to be seen. Most of the money is coming from the government taking on debt by selling bonds to other countries. At some point, someone (us) is going to have to make up those interest payments. Up to now, people (other countries) have been willing and able to give the US money. If that willingness goes away before we get things back on track, we are going to see inflation on the rise very quickly. I doubt you will see any tax hikes (at least for the lower and middle class) in the near future. However, you might see the top 10% of taxpayers getting hit with either no tax break or tax increases. Doesn't make sense to me since they have lots of money to spend and I would think that you would want to give them all good reasons to go and spend it (e.g. tax breaks). Once things start to turn around, that's when you will see taxes increased in order to pay back the money we owe.

I want to respectfully disagree with you. I've got many friends that are wealthy and most of them got that way by being frugal. They don't spend money for the sake of spending, they invest it, hence the current Overcapacity/under consumtion situation. If you want to create jobs you have to encourage consumtion, you have to give the money to people who need things and will spend it.

[Inspector 17]

Originally Posted by dbotsfordtat

I want to respectfully disagree with you. I've got many friends that are wealthy and most of them got that way by being frugal. They don't spend money for the sake of spending, they invest it, hence the current Overcapacity/under consumtion situation. If you want to create jobs you have to encourage consumtion, you have to give the money to people who need things and will spend it.

I would agree with that statement. But as a whole, who spends more money: someone who makes $35,000 a year or someone who makes $350,000 per year? Even when that "wealthy" person invests money, they are essentially "spending" money by introducing more money into the system.

[dbotsfordtat]

Originally Posted by camaropete

I would agree with that statement. But as a whole, who spends more money: someone who makes $35,000 a year or someone who makes $350,000 per year? Even when that "wealthy" person invests money, they are essentially "spending" money by introducing more money into the system.

Wealthy people MAY spend more as a whole on more expensive items but not nearly enough nor often enough to create jobs for the other 90% of our citizens. I say may because again, I have a few friends that I would call very wealthy and they are the cheapest people I know. And investing is nothing like spending on tangible items, I hope this is a good analogy, buying stocks in a toaster maker is nothing like buying a toaster. At this point in our history we have to many toaster makers and not enough people buying toasters. The bottom line is to much wealth has been consolidated into to few hands and that is the root of the problem.

[Angrybird 12]

no, Obama promised us that 95% of us would get a tax cut....
Right?
I believe him don't you ?

[BigRigMike]

Originally Posted by Skyman 08

no, Obama promised us that 95% of us would get a tax cut....
Right?
I believe him don't you ?

Considering my taxes are going to be lower for the next two years i would say yes. And before someone complains that it is only $400 it is still a reduction which i am not going to complain about.