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  • Putting Our Debt into Perspective

    The video below sheds some hard truth onto our national debt. Please give it a look and post your thoughts. Frank

  • #2
    Re: Putting Our Debt into Perspective

    I never had a poor man give me a job .

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    • #3
      Re: Putting Our Debt into Perspective

      Tony Robbins has become a huge influence over many. He is smart but most of what he says is not really rocket science is it.

      They were talking the other day about get rich schemes and this one came up again - "Put an add in the newspaper selling the secrets to success, send $5 or $10 to address and we will send you back the secrets." So you guessed it, the secret is find another newspaper and put the same add in it. Simple hey. Sometimes what Tony Robbins and others similar talk about sounds similar to this, but I am not suggesting that Tony Robbins is a crook mind you.

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      • #4
        Re: Putting Our Debt into Perspective

        I am not interested in Tony Robbins, or fradulent money making schemes. I think the examples and information given in the video served to put our national debt into better perspective. I would have been just as impressed with the video if an animated character was providing the information. We need to understand the magnitude of that number, the enormity of reducing it ,the outcome if we do not!
        Last edited by Frankiarmz; 08-10-2012, 11:40 AM.

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        • #5
          Re: Putting Our Debt into Perspective

          Only thing that video did was give graphical examples of the size of the numbers we are dealing with. I guess that helps those who have trouble seeing the relationship of a million to a billion or trillion for that matter. It also backhandedly in my opinion tried to make a case for NOT taxing those with AGIs over $250K by trying to show that its a drop in the bucket compared to the size oif the debt. Well if as Franklin said "a penny saved is a penny earned", then I say a penny paid is a penny less that is owed. In other words all contributions count toward the end goal of reducing our debt.

          Forget all this who should pay what portion of the tax. Put EVERYONE on a level playing field. EVERYONE pays 10% (or whatever the number is calculated to be) of what they earn, no exceptions and no deductions. If you earn your money outside the USA (corporation of citizen) then you still owe taxes on it.

          what does ti ocst to operate the IRS every year? Tens o0f billions I'll bet. The IRS could be cut to 1/10 its current size, there's a big recurring savings right there that would go on for ever. Just Social Security so that at some date in the future everyone entering the work force pays into their own IRA and no the SSI slush fund. This eliminates the beggars that live off the system and never worked a day in their life. You future (as far as retirement) is then in your own hands, and my benefit is not reduced because we the people had to pay you. there will always be those that will need help because of special circumstances, adn allowances would have to be made to handle them. But at some point the SSI gravey train has be stopped and a new policy put in its place while continuing to support those who are inversted so heavily in it after paying into the system for 20+ years for example. There would need to be a transition period where some people would have coverage under both systems and would pay into both, or some other method for systaining those already on SSI or soon to be retired, but it could be done. But not by the Congress or Senate we have now, they are so politically polarized that they no longer represent their constituents, they represent their party, and that's not what we (at least I) elected them to do.
          ---------------
          Light is faster than sound. That's why some people seem really bright until you hear them speak.
          ---------------
          “If I had my life to live over again, I'd be a plumber.” - Albert Einstein
          ---------
          "Its a table saw.... Do you know where your fingers are?"
          ---------
          sigpic http://www.helmetstohardhats.com/

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          • #6
            Re: Putting Our Debt into Perspective

            Originally posted by Bob D. View Post
            Put EVERYONE on a level playing field. EVERYONE pays 10% (or whatever the number is calculated to be) of what they earn, no exceptions and no deductions.
            That, in and of itself, presents a huge issue. Just think of the tens of millions of people who own/work for tax preparation companies, accountants, tax attorneys, etc... plus a huge chunk of IRS employees, all of which would be added to our already overburdened unemployment rolls if we reverted to a one-page tax code.

            Plus, do you have any clue how much of a Senator or Representative's well being is provided by bribes/gifts/donations from lobbyists seeking special tax loopholes and exemptions for their clients?

            I'm kidding, of course.
            Or am I?
            Last edited by Doctordeere; 08-10-2012, 03:29 PM.
            "HONK if you've never seen a gun fired from a moving Harley"

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            • #7
              Re: Putting Our Debt into Perspective

              One factor in all of this is......LOWERING TAXES on anyone, or any business IS NOT ANY KIND OF ANSWER TO THE PROBLEM!!! THAT KIND OF THINKING IS THE PROBLEM.

              CWS

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              • #8
                Re: Putting Our Debt into Perspective

                Originally posted by Doctordeere View Post
                That, in and of itself, presents a huge issue. Just think of the tens of millions of people who own/work for tax preparation companies, accountants, tax attorneys, etc... plus a huge chunk of IRS employees, all of which would be added to our already overburdened unemployment rolls if we reverted to a one-page tax code.

                Plus, do you have any clue how much of a Senator or Representative's well being is provided by bribes/gifts/donations from lobbyists seeking special tax loopholes and exemptions for their clients?

                I'm kidding, of course.
                Or am I?
                Yes, this IS the root of the problem. Our 'representatives' looking out for themselves and not The People.

                Of course they will do what benefits them now or later, that's the corruption in our government that somehow needs to be eliminated but I don't know how you do it. Whoever gets elected will feel the same tug at their moral compass and unfortunately many of them bend to the pressure.
                ---------------
                Light is faster than sound. That's why some people seem really bright until you hear them speak.
                ---------------
                “If I had my life to live over again, I'd be a plumber.” - Albert Einstein
                ---------
                "Its a table saw.... Do you know where your fingers are?"
                ---------
                sigpic http://www.helmetstohardhats.com/

                Comment


                • #9
                  Re: Putting Our Debt into Perspective

                  Originally posted by CWSmith View Post
                  One factor in all of this is......LOWERING TAXES on anyone, or any business IS NOT ANY KIND OF ANSWER TO THE PROBLEM!!! THAT KIND OF THINKING IS THE PROBLEM.

                  CWS
                  But it may be possible for many to pay a lower rate, and the overall tax collected to rise. I would say there should be one expemption, anyone earing under the poverty level for their family (which in my book would top out at two adults and two children) would ay no taxes, so in effect those who are considered taxable are those who earn more than 1.1 times the poverty level.
                  ---------------
                  Light is faster than sound. That's why some people seem really bright until you hear them speak.
                  ---------------
                  “If I had my life to live over again, I'd be a plumber.” - Albert Einstein
                  ---------
                  "Its a table saw.... Do you know where your fingers are?"
                  ---------
                  sigpic http://www.helmetstohardhats.com/

                  Comment


                  • #10
                    Re: Putting Our Debt into Perspective

                    Maybe it's too late to fix the economy and save our society, I don't know? I do think if we have any chance of turning this all around the changes will need to be wide reaching and extreme. I don't believe the economy can be repaired by heavily taxing the rich or lowering pay to the middle class who support the gov't through taxes and the economy and their communites as consumers.

                    Do any of you believe we can survive as a service based economy and not manufacture most of what we consume? I don't, and I think where we are is a result of many years of America based businesses and jobs loss. Our legislators stood by, and allowed capitalists to rape our economy of jobs. I further believe rising inflation contributed to all sorts of after shocks to our economy, including the need for higher wages.

                    My bottom line is if it doesn't work it must be changed! You want to put a cap on wages, fine, make America more manufaturing, and business friendly. Cut business taxes, reduce energy prices, ease OSHA and EPA rules that are destroying businesses. Honestly, I think there is way too much that would need to be done, and not a chance of the democrats and republicans making it happen. The other problem is "We the People", consumer debt and an apparent unwillingness to endure necessary changes to save the economy make our future pretty clear. I really don't care much about mexico, china and europe if there is a choice between saving us or them. I don't believe in the term "open markets" when there's are closed to us. I don't believe in a global economy when china plays games to benefit their economy, and europe crashes and burns taking us with them. Frank
                    Last edited by Frankiarmz; 08-10-2012, 08:11 PM.

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                    • #11
                      Re: Putting Our Debt into Perspective

                      Originally posted by DELCASE View Post
                      I never had a poor man give me a job .
                      You've never performed a plumbing job for someone who you thought was poor? Most of the people who I do plumbing for are not rich by my middle class standards, and some I would consider poor.
                      Time flies like an arrow.

                      Fruit flies like a banana.

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                      • #12
                        Re: Putting Our Debt into Perspective

                        Warren Buffet offered a simple solution to the national debt problem. Pass a law, or constitutional amendment that no politician can run for political office if they voted for a budget that would create a deficit greater than 3%. Problem solved.

                        Consider joining this or other movements for a balanced budget. I did. Years ago. Balanced Budget Amendment | Americans for a Balanced Budget Amendment
                        Time flies like an arrow.

                        Fruit flies like a banana.

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