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Joined: Oct 2009
Posts: 16,718
Campfire Ranger
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Campfire Ranger
Joined: Oct 2009
Posts: 16,718 |
What exactly would compromise on this issue look like?
Making the tax cuts permanent, and reducing spending to balance the budget. That would be a compromise - and one that would get bipartisan support.
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Joined: Jan 2005
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Campfire Ranger
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Campfire Ranger
Joined: Jan 2005
Posts: 17,042 |
In 2006 revenue was 2.4 trillion and 58% was from income vs 47% in 2012.
Kent
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Joined: Jul 2006
Posts: 62,043
Campfire Kahuna
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Campfire Kahuna
Joined: Jul 2006
Posts: 62,043 |
Some tax reform package or agreements in principle will be put in place.
The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails. William Arthur Ward
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Joined: Jan 2010
Posts: 23,540
Campfire Ranger
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Campfire Ranger
Joined: Jan 2010
Posts: 23,540 |
For Fiscal Year 2006, the Federal government received $2.407 trillion in revenue
For Fiscal Year 2007, the Federal government received $2.568 trillion in revenue.
The U.S. FY 2008 Budget, prepared by the Office of Management and Budget (OMB), predicted revenue would come in at $2.662 trillion. It actually received less, at $2.524 trillion in revenue.
2009 2.1 trillion 2010 2.165 trillion 2011 2.303 trillion
tax revenue is back to pre-crash levels. Of course with normal growth it should be around 3.1 trillion
have you paid your dues, can you moan the blues, can you bend them guitar strings
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Joined: Oct 2009
Posts: 16,718
Campfire Ranger
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Campfire Ranger
Joined: Oct 2009
Posts: 16,718 |
Making the tax cuts permanent, and reducing spending to balance the budget. That would be a compromise - and one that would get bipartisan support. If Reid, and Obama were to reach out with this type of proposal, Boehner, and the congress would accept it. Compromise, bipartisanship, and avoiding the fiscal cliff in this scenario.
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Joined: Jan 2006
Posts: 19,816
Campfire Ranger
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Campfire Ranger
Joined: Jan 2006
Posts: 19,816 |
There will be no spending cuts that the Dems won't be able to renig on in the out years. That's why the deal failed the last time. Boehner wanted more up-front so they wouldn't magically disappear as they did in previous deals where Bush and even Reagan got blamed for the increases.
"Be sure you're right. Then go ahead." Fess Parker as Davy Crockett
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Joined: May 2010
Posts: 14,950
Campfire Outfitter
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Campfire Outfitter
Joined: May 2010
Posts: 14,950 |
Obama said now is not the time to worry about these things. That is all - argument over.
--- CAUGHT IN THE CROSSFIRE --- A Magic Time To Be An Illegal In America---
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Joined: Jan 2005
Posts: 17,042
Campfire Ranger
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Campfire Ranger
Joined: Jan 2005
Posts: 17,042 |
The decreasing percentage from income is what reflects business and employment trends, which reflect wealth in the economy. Increase employment back to 58% in 2012, we would be much closer to a balanced budget.
Kent
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Joined: Oct 2009
Posts: 16,718
Campfire Ranger
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Campfire Ranger
Joined: Oct 2009
Posts: 16,718 |
Some tax reform package or agreements in principle will be put in place. Hopefully making the current rates permanent? That, would be a compromise.
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Joined: Mar 2004
Posts: 12,806
Campfire Outfitter
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Campfire Outfitter
Joined: Mar 2004
Posts: 12,806 |
What exactly would compromise on this issue look like?
Some sort of tax increase. Of course, they can never raise taxes enough to avoid the inevitable crash.
Islam is a terrorist organization.
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Posts: 1,807
Campfire Regular
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Campfire Regular
Joined: Jul 2005
Posts: 1,807 |
I agree just vote present ,let him own the upcoming disaster.
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Posts: 3,522
Campfire Tracker
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Campfire Tracker
Joined: Jul 2007
Posts: 3,522 |
The Rs are being set up to lose in 2014. If they don't give in they will be painted as obstructionst and blamed for all of the economic problems. If the give in they will lose their base support. Why donate and work for candidates that vote with the dims? As long as the media is in bed with the left the right can not efectively get out its message, and the left can frame the argument.
Ernie
George Washington - �Labour to keep alive in your breast that little spark of celestial fire,�conscience.�
God save the Republic
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Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2009
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Seems to me that neither side wants to do what needs to be done to even slow the bus down.
Some think taxes need to be raised but without cutting back on the amount that is spent.
As for the Fed buying 100% of the debt,sounds like the old check kiting scheme to me.
They could let everyone in the US put something in the pot then slow down the increase in the rise of monies spent by all of these depts then slowly the debt would decrease.
The dems have already said they will not put any decrease's in the near years because they would look like they don't care about their base.
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Campfire Tracker
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Campfire Tracker
Joined: Oct 2003
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... They could let everyone in the US put something in the pot then slow down the increase in the rise of monies spent by all of these depts then slowly the debt would decrease. ... Make everybody pay at least 2% of their annual income in federal income tax - regardless of any deductions or credits, so that everybody pays at least 2 cents on every dollar in income in federal income tax. That would raise at least $65 billion (probably more because I based that number on the number of households not paying any federal income tax and assumed that the average income of those households is $25,000 - both of which are conservatively low in terms of the amount of tax revenue that would be generated). Reduce spending, too, and we would be a lot closer to stopping the borrowing that we can't afford. Might also consider adding a 1% national sales tax on purchases across the country. That would generate another $112 billion in tax revenues, give or take. That's $177 billion from making sure that everybody pays at least 2% of their income in federal income tax and implementing a 1% national sales tax. Furthermore, you tie any hope of illegals getting a path to legal residency or citizenship to paying income tax (as one component of the requirements).
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Joined: Jan 2005
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Campfire Ranger
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Campfire Ranger
Joined: Jan 2005
Posts: 17,042 |
We are -300 billion in income tax revenues this year than from 2006... we are +150 billion in social welfare programs spending (excluding SS) much directly related to unemployment rates... we are + 100 billion in illegal immigrant spending. We need to reduce the first two trends with by unhampering business/job growth and whittle away at the third best we can.
550 billion on the table in one year, start cut backs on federal agencies that duplicate state responsibilities...
tax surges will happen with prosperity, not increasing rates until there is no one working except .gov
Kent
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Posts: 19,722
Campfire Ranger
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Campfire Ranger
Joined: Nov 2007
Posts: 19,722 |
Let him veto it when they get hungry enough they might have a change of heart if not they just ran out of other peoples money. That's my take.
Last edited by 17ACKLEYBEE; 11/12/12.
NRA Lifetime Member
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Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
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Anybody want to bet that Obama will ever cut spending?
I belive that he will continue to spend money faster than it can be printed.
His intention for not extending the tax cuts have nothing to do with reducing debt.
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Joined: Nov 2007
Posts: 19,722
Campfire Ranger
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Campfire Ranger
Joined: Nov 2007
Posts: 19,722 |
Anybody want to bet that Obama will ever cut spending?
I belive that he will continue to spend money faster than it can be printed.
His intention for not extending the tax cuts have nothing to do with reducing debt. He has no plan that is visisble to do so it's tax and spend full speed ahead damn the torpedeos.
NRA Lifetime Member
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Campfire Ranger
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Campfire Ranger
Joined: Jan 2006
Posts: 19,816 |
A 1% sales tax would quickly grow to 10% with no cuts anywhere.
"Be sure you're right. Then go ahead." Fess Parker as Davy Crockett
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Joined: Nov 2007
Posts: 19,722
Campfire Ranger
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Campfire Ranger
Joined: Nov 2007
Posts: 19,722 |
A 1% sales tax would quickly grow to 10% with no cuts anywhere. But say that would be just a sales tax for the rich right? But say there isn't anything quite as rich as when the see the expression on a turds face as the hook is set.
Last edited by 17ACKLEYBEE; 11/12/12.
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