WTF? No wonder the US spends more than it takes in every year!!!

[Kman]

I was wondering why this country can't seem to only spend what it takes in and stop deficit spending. I see so much development and business activity, we could surely pay it down, right? We are always complaining about sending money to foreign countries, handing money out because America is racist, policing the world and giving out enormous subsidies. It turns out that only 60% of the US population works. It doesn't sound that bad that 6 out of 10 people support the other 4. The math doesn't add up because out of the 6 people paying for the other 4, all 6 are not contributing. Of the 6 working people, one contributes nothing and takes just like the other 4 people and some workers get most of their taxes back. So out of every 10 people in this country, less than 5 out of 10 actually put into the system, some workers get most of their taxes back. Prepare to pay even more as it will get worse if anything. 60% percent of the population works, of the 60%, 15% are employed on the government dime, your tax dollars. So less than 5 out of 10 people pay in, so that makes the task of paying down our national debt impossible, not to mention avoiding deficit spending. Hard to believe 60% work and 15% of that work force is employed by government!!!!! Working person number 6 of the working group only takes your tax dollars to pay their salary and benefits. My math may be fuzzy, but the picture is clear as day. Oh, the demand for more handouts and reparations should really help the debt along. Thoughts? Am I looking at this wrong? Fire away!

 

[Boogar Presley]

Wonder much all the policitians combined secretly cost us

 

[Hurricaneshand]

We haven't had a president who was actually serious about running a surplus since Clinton so that doesn't help anything

 

[Hayata]

"It turns out that only 60% of the US population works."

Well, ok. I don't think the babies work. Or the toddlers. Or the elementary school aged kids. Or the retirees.

I wonder what percent of the work-aged population works...I understand unemployment is low and that is based on folks of working age. Vs the entire population.


Funny how you can parse data to get it to support a point.

Oh, and the politicians are the ones who got us here. And we are the ones who elected them. So who's fault is it?

It's my fault. I paid so little attention to politics as a young man. I should have gotten more involved at a younger age.

 

[Tony2X]

Well, well....look who finally "woke" up....happy birthday.

 

[BIKER13]

gotta support the gimmedats and bringing more in every ****ing day to suck the teat

 

[Kman]

"It turns out that only 60% of the US population works."

Well, ok. I don't think the babies work. Or the toddlers. Or the elementary school aged kids. Or the retirees.

I wonder what percent of the work-aged population works...I understand unemployment is low and that is based on folks of working age. Vs the entire population.


Funny how you can parse data to get it to support a point.

Oh, and the politicians are the ones who got us here. And we are the ones who elected them. So who's fault is it?

It's my fault. I paid so little attention to politics as a young man. I should have gotten more involved at a younger age.

I was hoping someone would tell me my thinking was wrong. Those are the stats. How does it really read?

 

[Horsehat]

Fiat currencies don’t operate as a system where debt can be paid off. Currency, dollars in this case represents a debt. If the debt was paid in full there would be no currency. The attempt of the powers that be is To increase the size of the currency supply (debt) at a rate which results in an inflation rate of about 2% a year. When politicians get all happy and start throwing around stimulus checks to everyone, it causes inflation to increase well beyond the target rate. people holding dollars or dollar derivatives such as treasury bills get pissed when inflation is close or into the double digit range because this means they are effectively losing buying power when they hold dollars. The federal reserve then responds by decreasing the money supply, as has been happening for the last 16-18 months and increasing the amount of interest, since currency is getting tighter, that they charge banks on ultra short term notes, generally known as the overnight window. The end of this happens, and it always ends, when the economy sucks so bad that politicians convince the fed board to turn the printing presses back on and inflation runs amuck. the Dollar, under the Brenton Woods agreement has also had the status of being the only currency that petroleum can be bought with on the world market. This has been another factor that has helped keep inflation down even as the money supply increased exponentially. This is falling apart as we speak and if you have heard the term BRICS nations, these are the countries that will collude and introduce the currency, probably gold backed, that will unseat the dollar.
it will end in hyperinflation. As far as a small number of tax payers supporting the rest this is partly true. most Americans no longer are net tax payers. The entire system though, is kept afloat by a constant increase in the currency (debt). Think of it as just increasing the balance on your master card every month and kicking the can down the road.
there is no way out of this that doesn’t involve social upheaval. Historically, this is how and when dictators come to power.

 

[Mk319]

We haven't had a president who was actually serious about running a surplus since Clinton so that doesn't help anything

Yeah, right

The Clinton Fiscal Responsibility Myth

We conquered the deficit last time because we stopped making poor excuses for spending.

www.forbes.com

 

[GFB]

I think I read somewhere that 50-something percent of adults pay federal income tax net. Some people confuse all the different taxes that come out of a paycheck and don't even realize, after their tax returns are filed, they got back all or more than they put in for actual income tax. The vast majority of revenue from income tax comes from a small minority of earners. This is one of the reasons it's puzzling that the "pay their fair share" rhetoric has gotten such traction.

While taxation is an ongoing heated discussion, spending isn't nearly as big a concern. We argue over grotesquely irresponsible budget proposals as though there's a big difference between them.