Well worth watching.. I.O.U.S.A 30 minute version

[unphased]

If you're interested in a non-partisan, well done look at the (almost) current state at our national finances (I say almost because it's gotten worse since this production), it's well worth the 30 minutes it takes to watch this:

http://www.iousathemovie.com/

Give it an objective watch and if anybody would like to dispute it's conclusions, I would really like to read them.

Enjoy !

[Mott the Hoople]

If you're interested in a non-partisan, well done look at the (almost) current state at our national finances (I say almost because it's gotten worse since this production), it's well worth the 30 minutes it takes to watch this:

http://www.iousathemovie.com/

Give it an objective watch and if anybody would like to dispute it's conclusions, I would really like to read them.

Enjoy !

I can't dispute the conclusion but this film is singing to the choir where I'm concerned. I've long been a deficit hawk and have been since the late 80's.

[Mott the Hoople]

We need two new constitutional ammendments. The first is a balanced budget ammendment that requires a super majority or even a 75% majority to authorize deficit spending in a time of crises. The second ammendment we need is a prohibition against unfunded mandates. That would invalidate several of the major spending programs which would have to be reconfigured and refinanced.

[Damocles]

We need two new constitutional ammendments. The first is a balanced budget ammendment that requires a super majority or even a 75% majority to authorize deficit spending in a time of crises. The second ammendment we need is a prohibition against unfunded mandates. That would invalidate several of the major spending programs which would have to be reconfigured and refinanced.

I agree with this almost wholly.

I don't vote for people any longer that don't support the balanced budget amendment. Needless to say, it seems to limit my choices.

[Cancel3]

We need two new constitutional ammendments. The first is a balanced budget ammendment that requires a super majority or even a 75% majority to authorize deficit spending in a time of crises. The second ammendment we need is a prohibition against unfunded mandates. That would invalidate several of the major spending programs which would have to be reconfigured and refinanced.

I would add that we need to move away from our antiquated tax system and go to the Fair Tax Act.

The "tea party" people could put their support behind a bill that is already in congress and do more to shift power back to the people than anything we have had since 1776.

[FUCK THE POLICE]

I would add that we need to move away from our antiquated tax system and go to the Fair Tax Act.

Wow. Did you hear that people? A progressive income tax is now "antiquated" in comparison to a simple excise tax. That's the new line from the propaganda machine, I guess.

[Minister of Truth]

We need two new constitutional ammendments. The first is a balanced budget ammendment that requires a super majority or even a 75% majority to authorize deficit spending in a time of crises. The second ammendment we need is a prohibition against unfunded mandates. That would invalidate several of the major spending programs which would have to be reconfigured and refinanced.

Good idea, Newt!

[Mott the Hoople]

I would add that we need to move away from our antiquated tax system and go to the Fair Tax Act.

The "tea party" people could put their support behind a bill that is already in congress and do more to shift power back to the people than anything we have had since 1776.

If the "Fair Tax Act" is another regressive flat tax scheme I'd oppose that.

[Cancel3]

If the "Fair Tax Act" is another regressive flat tax scheme I'd oppose that.

The Fair Tax Act is a consumption tax. It does away with the IRS and the $500 million spent annualy on tax compliance.

Basically it is a 23% tax on all new goods and services. No more hidden taxes. No more business or corporate taxes passed on in the pricing.

And you tax the drug dealers, illegal immigrants, hookers and day laborers too.

[Damocles]

If the "Fair Tax Act" is another regressive flat tax scheme I'd oppose that.

I prefer a flat rate with a standard deductible. It makes it naturally progressive. The problem is that one side will consistently try to tweak it in order to buy votes.

[Cancel3]

I prefer a flat rate with a standard deductible. It makes it naturally progressive. The problem is that one side will consistently try to tweak it in order to buy votes.

The main thing I like about the Fair Tax is that no one pays taxes on the basic necessities, and everyone pays the same rate on what they spend.

If the gov't wants to raise taxes they can't do these little segments, they have to raise them for the entire population.

[Mott the Hoople]

The Fair Tax Act is a consumption tax. It does away with the IRS and the $500 million spent annualy on tax compliance.

Basically it is a 23% tax on all new goods and services. No more hidden taxes. No more business or corporate taxes passed on in the pricing.

And you tax the drug dealers, illegal immigrants, hookers and day laborers too.

Sorry but that's a regressive flat tax or more correctly VAT tax and it's a regressive taxation scheme. Our present "antiquated" tax system is vastly superior to any inherently unfair regresive scheme that shifts the burden of taxation from those who can most afford it to those who can't.

[Cancel3]

Sorry but that's a regressive flat tax or more correctly VAT tax and it's a regressive taxation scheme. Our present "antiquated" tax system is vastly superior to any inherently unfair regresive scheme that shifts the burden of taxation from those who can most afford it to those who can't.

Where did we get the idea that we should soak the people who worked their asses off to earn more money, and give everyone else a break?

The ultimate fair tax is the one where everyone pays the same percentage for their purchases.

And no one pays taxes on what they save.

It also takes away all the deductions, loopholes and tax-dodges. And since everyone pays the same tax, the politicians won't raise them unless they are willing to raise taxes on everyone.

[ib1yysguy]

An amendment requiring a supermajority to pass deficit spending would have led to the Republicans stopping the stimulus spending and a huge amplification of the recession we're seeing today.

[unphased]

I prefer a flat rate with a standard deductible. It makes it naturally progressive. The problem is that one side will consistently try to tweak it in order to buy votes.

Personally I prefer to just eliminate the income tax altogether after all we don't need it and it amounts to nothing more than legalized plunder by groups of citizens seeking to fund their pet causes and social experiments at the expense of other citizens via the use of forced confiscation.

All that is required to do so is that the Federal Government actually abide by the constraints placed upon it by the U.S. CONSTITUTION. After all we did just fine with out it for well over a hundred and twenty years and ever since it was instituted the state has gradually eroded our individual liberty and engaged in global empire building, take away the money and all this federal nonsense goes out the window. We're basically paying for the "privilege" of enriching corporations and the political class while at the same time screwing ourselves and our children over financially..... time for a new plan, time to try freedom again.