Biden: Lower Medicare Age From 65 To 60: YES!

[Saudade]

Hello Woko Haram,

Guess why. Take a wild guess. Oh, of course I am going to tell you.

Because IT WOULD CRASH THE ECONOMY.

Taking away all those hand-outs takes the spending money away from millions of consumers, they no longer spend, consumer spending being a big part of the economy, = BIG CRASH.

That's why they don't want to do that.

That should tell you that the economy is artificial. In other words, it's a house of cards. It will crash much worse very soon than it already has, once politicians realize that another stimulus check won't help.

In the long run, the growing dependence on printing money recklessly will result in what I mentioned in a different post regarding Latin America.

Well then it won't matter if we go ahead and do it. Then we'll find out if that's really correct or not. If you're right, which I suspect you are not, then your cherished rich that you are protecting will have nothing to worry about. If you're wrong and we get away with electing responsible leadership and we finally begin collecting enough revenue to pay for the country then, oh my, we actually pay for the country for the first time since Bill Clinton.

And that would be a bad thing because why?

There is only one functional way to tax the rich more, and it requires lowering corporate taxes first. The only way that much of Europe can get away with taxing the wealthy more without them leaving is by lowering the corporate tax enough that many wealthy people take a larger portion of their personal earnings and invest it in their businesses. America currently has a higher corporate income tax than many of its trading partners, which results in more wealth being withheld from investment.

So, if you really want to tax the wealthy more, first, lower the corporate income tax. After that, raising personal income taxes on the elite will result in them moving their money into investments.

As you can see, it's still more of a matter of pushing wealth toward being used in the economy rather than having the government take the money.

[Geeko Sportivo]

Hello Geeko Sportivo,



It really is infuriating.

And, because of his tax give-aways, the federal budget is a MESS. All kinds of stuff left underpaid and unfunded. He quit collecting the payroll tax that pays for SS and medicare. He ran the federal debt up to the moon. Didn't collect enough revenue to pay for the country. Now the debt is sky high. Of COURSE you can boost the economy if you don't collect enough taxes. But how does that pay for the government? Answer - oh, I know this one, IT DOESN'T. So now, yes, we have to raise up tax on the super-rich even HIGHER to pay for the freeloading years of Trump. What a MESS. The sooner we get rid of this guy the better. We can't AFFORD another 4 years of this irresponsibility.

Leave it to a Democratic President to come in and clean up the Republican budget mess, ONCE AGAIN.

Will the economy take off like gangbusters as we do this? It could, but probably not. But when you understand WHY we have to do it, then you'll know we do have to do it. There's no other way out of owing a bunch of bills than to have to pay them. But fortunately we have a lot of people with a lot of money in this country. All the money that is needed. We just have to put the screws to 'em and get 'em to pay.

It's the right thing to do for the good of the country.

We can put the country in good order. It's just gonna take a lotta work.

The thing about Biden is, even though most likely the Senate will be led by Schumer, Biden will bring Republicans to the table to negotiate the best rates for individuals and commerce. Biden brings everyone to the table. He works the aisle!

I believe Biden will also select at least one Conservative Republican to his cabinet, could possibly be more. I honestly believe Biden wants to heal the divisions Donald Trump put into play, and bring the nation back together again.

But, the Republicans he selects will not come from the current Republican Congress, both House and Senate, AS THEY SHOULD BE ALL TARRED, FEATHERED, AND THROWN IN THE PISS POOL!

No! The Conservatives Biden may select for his cabinet will have already served under other administrations before and are proven leaders who will have respect coming from both parties.

But yes, the Trump Tax plan is toast! THE RICH WILL HAVE TO PAY THEIR FAIR SHARE AGAIN. The Biden Tax plan will end the loopholes and 100's of thousands of pages of tax code as well.

[PoliTalker]

Hello Woko Haram,

That should tell you that the economy is artificial. In other words, it's a house of cards. It will crash much worse very soon than it already has, once politicians realize that another stimulus check won't help.

In the long run, the growing dependence on printing money recklessly will result in what I mentioned in a different post regarding Latin America.



There is only one functional way to tax the rich more, and it requires lowering corporate taxes first. The only way that much of Europe can get away with taxing the wealthy more without them leaving is by lowering the corporate tax enough that many wealthy people take a larger portion of their personal earnings and invest it in their businesses. America currently has a higher corporate income tax than many of its trading partners, which results in more wealth being withheld from investment.

So, if you really want to tax the wealthy more, first, lower the corporate income tax. After that, raising personal income taxes on the elite will result in them moving their money into investments.

As you can see, it's still more of a matter of pushing wealth toward being used in the economy rather than having the government take the money.

It's more complex than that.

People with money need to invest it.

That money is going somewhere.

If they don't invest in corporations they might choose real estate. Real estate investment is important, too.

Americans feel better about investing in the USA than overseas.

Smart people know we have to pay for the country and they know we have not been paying enough.

And money is not the only consideration when they think of where they wanna live.

Sure, if you 'get a better deal,' it may seem appealing to leave the USA.

But people who do that are leaving a lot behind. Family, heritage, memories, a part of themselves.

[Saudade]

Hello Woko Haram,



It's more complex than that.

People with money need to invest it.

That money is going somewhere.

If they don't invest in corporations they might choose real estate. Real estate investment is important, too.

Americans feel better about investing in the USA than overseas.

Smart people know we have to pay for the country and they know we have not been paying enough.

And money is not the only consideration when they think of where they wanna live.

Sure, if you 'get a better deal,' it may seem appealing to leave the USA.

But people who do that are leaving a lot behind. Family, heritage, memories, a part of themselves.

Sure, there are plenty of intangibles that keep people from leaving, but if you're an elite, you likely already have somewhat of a global lifestyle, so to speak. You guys always talk about taxing the 1% more, but billionaires can travel with ease.

A lot of these people already have multiple homes across the world. Some even have multiple citizenships.

[TTQ64]

Hello Cinnabar,



It's a small step in the correct direction.

Baby steps are easier to take.

not when youve been oppressedfor generations..................

baby steps are easy for white folks....................

[TTQ64]

MEDICAL FOR ALL

if white american "dems dont support that............let them continue to vote republican.........

republican ideology needs to go it has no place inthe democratic agenda

[PoliTalker]

Hello Woko Haram,

Sure, there are plenty of intangibles that keep people from leaving, but if you're an elite, you likely already have somewhat of a global lifestyle, so to speak. You guys always talk about taxing the 1% more, but billionaires can travel with ease.

A lot of these people already have multiple homes across the world. Some even have multiple citizenships.

And that is why I propose to put an end to that. What would be so bad about a proposed new law forcing people to choose a country? It is a matter of physics. A person can only physically exist in one place at a time. Dual citizenships are something that is not available to the poor. It is for elites only. Why should elites have this favored legal status?

Most Americans never consider moving to another country. That is something that pretty much only the super-rich do. Why? To get out of paying taxes, while still enjoying the benefits of living in the USA. I am tired of it. Force them to choose. If they want to leave, fine. No coming back. They make a mockery of the laws everyone else has to live by.

Wanna own property in several nations? No problem. But if you wish to do business in the USA, then you must pay taxes in the USA. How can corporate taxes be reduced any more from zero? How is it that giant corporations like Amazon pay no tax? Something has got to give.

[PoliTalker]

Hello Woko Haram,

That should tell you that the economy is artificial. In other words, it's a house of cards. It will crash much worse very soon than it already has, once politicians realize that another stimulus check won't help.

In the long run, the growing dependence on printing money recklessly will result in what I mentioned in a different post regarding Latin America.

The main problem with the economy is that too much money is concentrated at the top. This leaves the 99% fighting over the scraps. America, we have a wealth distribution problem. There simply is not enough wealth distribution. Any hope of having a stable healthy thriving economy must include wealth redistribution. That can't happen until we address government corruption, namely government being bought out by the greedy super-rich. A healthy economy is not possible with widespread government corruption.



There is only one functional way to tax the rich more, and it requires lowering corporate taxes first. The only way that much of Europe can get away with taxing the wealthy more without them leaving is by lowering the corporate tax enough that many wealthy people take a larger portion of their personal earnings and invest it in their businesses. America currently has a higher corporate income tax than many of its trading partners, which results in more wealth being withheld from investment.

So, if you really want to tax the wealthy more, first, lower the corporate income tax. After that, raising personal income taxes on the elite will result in them moving their money into investments.

As you can see, it's still more of a matter of pushing wealth toward being used in the economy rather than having the government take the money.[/QUOTE]

The problem with that thinking is that it is predicated on starving the government. As with Singapore, it is not possible to have a thriving economy without having a large effective corruption-free government. 22% of the Singapore economy is generated by the government, and there are very effective anti-corruption measures in place.

[PoliTalker]

Hello Geeko Sportivo,

The thing about Biden is, even though most likely the Senate will be led by Schumer, Biden will bring Republicans to the table to negotiate the best rates for individuals and commerce. Biden brings everyone to the table. He works the aisle!

I believe Biden will also select at least one Conservative Republican to his cabinet, could possibly be more. I honestly believe Biden wants to heal the divisions Donald Trump put into play, and bring the nation back together again.

But, the Republicans he selects will not come from the current Republican Congress, both House and Senate, AS THEY SHOULD BE ALL TARRED, FEATHERED, AND THROWN IN THE PISS POOL!

No! The Conservatives Biden may select for his cabinet will have already served under other administrations before and are proven leaders who will have respect coming from both parties.

But yes, the Trump Tax plan is toast! THE RICH WILL HAVE TO PAY THEIR FAIR SHARE AGAIN. The Biden Tax plan will end the loopholes and 100's of thousands of pages of tax code as well.

Trump famously said he was going to get rid of the tax loopholes that he personally used and was quite familiar with. Instead, those loopholes were strengthened and expanded, and he then used them to pay no taxes.

When Trump's taxes are released it will expose his tax scam.

[Saudade]

Hello Woko Haram,

And that is why I propose to put an end to that. What would be so bad about a proposed new law forcing people to choose a country? It is a matter of physics. A person can only physically exist in one place at a time. Dual citizenships are something that is not available to the poor. It is for elites only. Why should elites have this favored legal status?

Actually, there are quite a few American expatriates that aren't rich. They're usually at least middle class, but you don't have to be an elite to maintain dual citizenship or to live abroad in general. Plenty of successful professionals have jobs that make dual citizenship useful and sometimes even mandatory. Think of the many international journalists out there, for example. We know the rich ones by name, but there are many more that are still middle class.

Most Americans never consider moving to another country. That is something that pretty much only the super-rich do. Why? To get out of paying taxes, while still enjoying the benefits of living in the USA. I am tired of it. Force them to choose. If they want to leave, fine. No coming back. They make a mockery of the laws everyone else has to live by.

Once again, that's completely wrong. Plenty of Americans live abroad. Now, as a proportion of the population, we're less worldly than many European nationalities, but there are about 5 million Americans that live abroad. It's not certain how many of these people have dual citizenship, since this doesn't appear to be a stat that anyone is keeping up with, but it's reasonable to assume that a significant portion of that 5 million have it. It's also reasonable to assume that not all of these people are rich or "elite."

Wanna own property in several nations? No problem. But if you wish to do business in the USA, then you must pay taxes in the USA. How can corporate taxes be reduced any more from zero? How is it that giant corporations like Amazon pay no tax? Something has got to give.

When it comes to income tax, the US government is one of the only ones in the world that taxes income made by citizens abroad. So personal taxation is already covered.

Corporations do have plenty of tax loopholes that they take advantage of, and I'm actually supportive of ending those loopholes. I think a reasonable compromise would be a flat corporate tax with no deductions. The percentage should be low (probably around 10%), but without deductions, that would make collection simpler and harder to evade.

[Saudade]

Hello Woko Haram,

The main problem with the economy is that too much money is concentrated at the top. This leaves the 99% fighting over the scraps. America, we have a wealth distribution problem. There simply is not enough wealth distribution. Any hope of having a stable healthy thriving economy must include wealth redistribution. That can't happen until we address government corruption, namely government being bought out by the greedy super-rich. A healthy economy is not possible with widespread government corruption.

The poor here live better here than the poor in most of the world. The same goes for the working class. That doesn't sound like as dire of a situation as you're claiming.

The problem with that thinking is that it is predicated on starving the government. As with Singapore, it is not possible to have a thriving economy without having a large effective corruption-free government. 22% of the Singapore economy is generated by the government, and there are very effective anti-corruption measures in place.

And as I pointed out in another post, 35% of the US GDP is government spending. We're not exactly starving the government here. If we could get the spending down to 22% here, that would do wonders for the economy and our debt.

[Stretch]

Bring in an influx of 60 yr olds? People will quit working, more money will be going out than coming in. Medicare is already a ticking time bomb to end.
Do this and Medicare will be gone in 3 years. Yup...do that Dems.

[PoliTalker]

Hello Woko Haram,

Actually, there are quite a few American expatriates that aren't rich. They're usually at least middle class, but you don't have to be an elite to maintain dual citizenship or to live abroad in general. Plenty of successful professionals have jobs that make dual citizenship useful and sometimes even mandatory. Think of the many international journalists out there, for example. We know the rich ones by name, but there are many more that are still middle class.



Once again, that's completely wrong. Plenty of Americans live abroad. Now, as a proportion of the population, we're less worldly than many European nationalities, but there are about 5 million Americans that live abroad. It's not certain how many of these people have dual citizenship, since this doesn't appear to be a stat that anyone is keeping up with, but it's reasonable to assume that a significant portion of that 5 million have it. It's also reasonable to assume that not all of these people are rich or "elite."

That's 1.5%. 1.5% is not 'plenty,' It takes money to travel. I would guess that practically all of that 1.5% are in the upper half of earners.

When it comes to income tax, the US government is one of the only ones in the world that taxes income made by citizens abroad. So personal taxation is already covered.

Corporations do have plenty of tax loopholes that they take advantage of, and I'm actually supportive of ending those loopholes. I think a reasonable compromise would be a flat corporate tax with no deductions. The percentage should be low (probably around 10%), but without deductions, that would make collection simpler and harder to evade.

10% is not enough tax to support the nation. The richest corporations are making big money. They can and should be paying more than 10%, which is more than many of them pay.

We can't run an efficient country by starving our government and forcing it to run on borrowed money. That's just stupid. If things were done properly we would not carry federal debt.

[PoliTalker]

Hello Woko Haram,

The poor here live better here than the poor in most of the world. The same goes for the working class. That doesn't sound like as dire of a situation as you're claiming.

It is dire for the poorest Americans. And our working class should be doing at least twice as well as it is. The greedy super-rich are ripping off the working class, pocketing the money that should be going to workers. The extreme wealth inequality in the USA is sickening. If people only knew how much money their own work is generating for the greedy super-rich, they would vomit.

And as I pointed out in another post, 35% of the US GDP is government spending. We're not exactly starving the government here. If we could get the spending down to 22% here, that would do wonders for the economy and our debt.

We are totally starving the government because we are not paying for it.

Spending: $6.6 Trillion

Revenue: $3.4 Trillion

Do the math.

Nearly half of our spending is BORROWED!

WE NEED MORE REVENUE

Look at the numbers - this is ridiculous self-fooling - we can't go on like this - it's a JOKE!

[Saudade]

Hello Woko Haram,

That's 1.5%. 1.5% is not 'plenty,' It takes money to travel. I would guess that practically all of that 1.5% are in the upper half of earners.

I know plenty of people personally who are not wealthy that lived abroad. One is a good friend who lived in Turkey for about a decade. He works for an international plastics trader.

There are also a lot of people who end up living abroad teaching English in countries like China, South Korea, and Japan. They definitely aren't rich either.

10% is not enough tax to support the nation. The richest corporations are making big money. They can and should be paying more than 10%, which is more than many of them pay.

We can't run an efficient country by starving our government and forcing it to run on borrowed money. That's just stupid. If things were done properly we would not carry federal debt.

Whatever rate you set for corporate taxes needs to be competitive with nations that are comparable to our own. We already tax corporations at a rate above the average of the EU. Instead of raising the rate, we could just remove some of the deductions and close some of the loopholes. That would be a lot more effective than changing an easily avoided nominal rate.