Oh, it could withstand it, but it won't be pretty! but what the hell do you care, you are a fat cat, you can move whereever the hell you wish to live and do so in comfort, why the hell do you care about the poor, elderly and children. You got yours, so screw the rest. Go play golf and enjoy the profits you have reaped!
Cancel 2016.2
The Almighty
And our economy will shut down, which will lead to the world economy will shut down.
Don't all you people on any intelligence realize that draconian cuts will mean lay offs which will crash this already fragile economy?
Good grief, let just cut everything and set us all back to the stone age!
No.... lets just keep spending more than we have so it implodes on future generations rather than on us. We should just continue outspending revenue by $1.7 trillion per year.... cause THAT will solve our long term problems.
This incessant 100% selfish desire to never experience pain is pathetic. It is great to want to provide everything for everyone regardless of cost or efficiency... just keep pushing the 'payment due' date into the future until the entire economic system completely implodes.
That would be better, because we might not be around when it happens... so why should we worry about it?
Rationalist
Hail Voltaire
$600 billion in cuts would not crash the economy. However, I would favor cutting it in increments, e.g. $100 billion per year, to minimize job loss of Federal workers. As the economy grows, the displaced Federal workers will find private sector jobs.
What, in your opinion, is the alternative? It is impossible to raise taxes enough to eliminate the deficit. The bottom line is that shared sacrifice will be necessary: we'll have to raise taxes, cut spending, and bank on increased revenue from economic growth.
Topspin
Verified User
thanks, why not move to Russia or China where freedom is limited and the state rules. Oh shit they have exponentially less than us to spend on the poor.
Rana, nice turbo-lib grandstanding. I'm for cutting defense and mic before anything for the poor gets touched. Don't let my past history on the topic stop your partisan talking points rant though.
If I am a troll then you are also.
Removing $600 billion from the economy would have a serious negative impact under present circumstances. So would $100 billion. It isn't as though that spending is crowding out private spending right now such that the private sector could immediately step in and make up for the lost economic activity. Pretending otherwise is insane.
Raising taxes to Clinton era levels puts a huge dent in the deficit. After that, huge cuts are not necessary.
Why don't you go smoke a doobbie and blow it out your ass...
Topspin
Verified User
wow angry spinster this morning
Cancel 2016.2
The Almighty
There is an immense amount of money sitting on the side lines right now because people are too fearful to put it to work. We could easily put government spending back to 2006 levels without the economy imploding. It is the unhealthy levels of spending that is a primary cause of concern that in turn causes companies to sit on cash rather than invest.
We should:
1) All line items on the budget back to 2006 levels
2) Cut Defense by 1/3: get rid of the wasteful admin and weapons projects that we don't need; close foreign bases that are no longer necessary, bring those troops back home
3) Cut the waste out of Medicare/Medicaid: Obama found $500 billion in waste there... that would be a good place to start
4) Fix Social Security: create the doughnut, reinstall SS tax on every dollar over $500k for individuals (do not reinstate the matching tax on employers).
5) Reinstate Glass Steagall; break up the too big to fail banks
6) Reinstate the uptick rule
7) Fix our current regressive tax code. Flat tax with a high standard deduction. This tax will be applied to ALL sources of income: dividends, cap gains, wages. No corporate tax (watch how fast jobs get created here) as this is a highly regressive tax. No other loopholes or deductions
8) Eliminate dependency on foreign energy. Drill our nat gas and oil resources. Convert transportation over to Nat Gas (transportation accounts for about 70% of our oil consumption). Invest in R&D on clean/alt energy to get those projects to be economically viable (without subsidies).
9) LET THE MARKET CORRECT.... quit trying to prop it up time and again, that only results in our having one bubble after another.
I am not a spinster, sorry! why the hell do you care! You got yours!
Tax the rich a fair rate, tax businesses at a fair rate and all this won't be a problem!
That is complete horseshit. It's just not so. It would be awesome if that were the case, but it just isn't.
Cancel 2016.2
The Almighty
Wrong.... there is over $2 TRILLION in cash sitting idle on corporate balance sheets... get government spending in line without trying to hose corporations and watch this cash stream flow.
Start with eliminating the loopholes and deductions and you may not have to raise tax rates... it is easy for politicians to pretend to raise taxes on 'the rich', but when they in turn create more loopholes and deductions for those same 'rich' people, it becomes simply smoke and mirrors.
Cancel 2016.2
The Almighty
right... so you are saying corporations AREN'T sitting on over $2 Trillion in cash? It is the case.... it just doesn't fit with what your masters are telling you. If they told the truth, they wouldn't be able to 'justify' their outrageous spending.
Cancel 2016.2
The Almighty
1) In my system the rich would have NO loopholes or deductions (other than the same standard deduction)
2) a tax on business is a highly REGRESSIVE tax. It hits low and middle income families a lot harder than the wealthy. Tax the earnings of employees, tax the dividends and cap gains the shareholders receive.... all at the same rate. There is NO need to add a hidden tax on the consumer.
cawacko
Well-known member
Why do you believe corporations are sitting on billions of dollars in cash?
The reason you offered is horseshit. It's got nothing to do with government spending at all.
Because there is slack demand for their goods and services. If they had customers that wanted to buy more of what they have to offer, they would use that money to create more goods and services to sell. But they don't have the customers.
Topspin
Verified User
when morons attack with bs, I respond in kind