United States Heading towards a Depression?

This might help you Julian http://www.online-calculator.com/

Combined social spending out weight defense spending by almost 4 to 1.

 

OK, I surely agree that in times of crisis, or in times of huge country debts, you need to curtail all possible expenses. On the other hand, the tax increase for rich people should also be implemented, otherwise we can't but face the riots,even larger, than "The TakeDown of Wall Street"

 

The problem with the tax increase for the "rich people" is that you only have so many "rich people" and so much "tax" revenue to collect. Even if you repeal the Bush tax cuts on what the class envy crowd calls the "rich people", your only going to solve the problem for a few days if that.

You're talking about a less than 3% impact on the overall federal deficit.

To impact real change we're going to have to make massive cuts in social spending and cut capital gains and corporate tax rates so business can start hiring again and consumers can start buying.

 

I'd say that the implementation of massive cuts together with cuts in corporate taxes will only evoke more people's irritation. You can't make the majority of people take in a reef (like spare as much as possible), while 1% of state population won't even feel the crisis.

 

And you can't expect the 1% to continue floating the 40% that don't pay ANYTHING in taxes forever
Good Lord, stop looking at the 1% like they're a freaking parent that owes you something. They're NOT
These people pay more in taxes in one year than you ever will in your life. They uphold this country, and the greedy just want them to pay more and more and more and more while the greedy demand to pay less and less and less.
Seriously, it's time to put this class warfare lie to bed. EVERYONE needs to pay taxes. The uber-rich, the uber poor, EVERYONE. That's the only way this system will work properly. Unfortunately, there's better than 40% of individuals in this country that contribute NOTHING to this country, but demand everyone else pick up their slack!!!

 

Where have you found my saying that not everyone should pay taxes? Come on, this would be irrational. What I was pointing out is that the tax value should depend on how much profit you acquire, as you can't expect the office clerk pay as many taxes as the owner of the entreprise, who he works for, right?

The question I was talking about has nothing to do with class warfare, it's just about the logicall fairness. I agree that there's always a kind of abuse of money, given away for social purposes, though it's the same as with any other state expenditures. Still, there are, actually, people, who can't even work full time, because of their health problems, and they can survive only due to the money received from the government. What do you suggest to do with them?

 

1%, wow, if that's not a buzz word for the kool-aid consuming crowd.

50% of Americans pay NO TAX. Those are the people we need to get taxes from. Those people are consuming and paying NOTHING. The 1% you speak of are contributing 37 percent of the income tax revenue collected, and they earn only 19 percent of the revenue. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent earn 13 percent of the income but pay just 3 percent of the taxes.

And again, 1/2 of Americans pay NO TAXES WHAT SO EVER!!!!

If avoiding irritating the people who hate the people who pay 37 percent of all the federal tax revenue is the reason for not cutting taxes, then I think we have a massive problem. The job of the federal government is to protect us, our way of life, the Constitution and defend us from our enemies. Beyond that, staying out of our way and creating an environment that is conducive to producing wealth should be their only other main objective.

"You can't make the majority of people take in a reef"

What majority is that exactly? The top 1%? The top 10%? The bottom 50% or the people who pay no taxes?

I'm deeply concerned with your thinking here. Are you saying that top 1% paying 37% of all the revenue collected by the federal government is not enough? What if the bottom 50% who earn nearly as much as that top 1% start paying another 35%? Would that not be fair?

Please explain your math to me.

 

Their family should take care of them, just like it was in the past.


If someone does happen to get this thread locked, the basic question of if the USA is heading for a depression
has been answered. It was yes. History is repeating itself.

 

We are currently in a depression.

 

That is similar to Jon Stewart's slogan for the Democrats:

Democrats - We suck less than the other guys!

 

AND THEY DON'T.
Stop using washed up, pathetic arguments . NO office clerk pays as much (or more) taxes than the owner of the company.

BS
You yourself just pulled the biggest 'class warfare' line of the democratic party, and claim "Oh, it's not about class warfare"? If you were REALLY about being fair, you'd actually STOP citing pathetic, old rhetoric and look at the REAL problem here, the people that DON'T pay jack for taxes. Of course, people like you just want the rich to keep on giving and giving and giving and giving until they're dry, right? Why not, I mean hey, it's not YOUR money.

 

No, but you can expect her to pay the same tax rate.

Besides, I'd be willing to bet the owner is taking more risk, has more stress and works longer and harder hours than the clerk. And probably pays the clerk more than he makes.

I guess I would argue that it seems unlikely that 50% of the US population is that destitute and disabled.

Most of the people who receive aid are not what would qualify in reality as "disabled". It's very easy to get aid. Take the ease away and those who truly need it will be taken care of.

 

Hardly
The cut off line is $50k, so if you make < $50k in the states, you pay zero income tax, or have all of your taxes refunded, PLUS whatever deductions you can claim (non profit, etc), so it's theoretically possible for this 50% to be making MORE from the government than they ever paid in. Talk about a nasty loophole.

This is exactly what's wrong with the system. Not that the rich don't pay (they do), but that the lower 1/2 of the country doesn't pay a damn thing. Yet, they are the ones whining about "tax the rich, they pay nothing".

Only in the U.S. can you be considered 'poor', yet have cable, a cell phone, hd tv, numerous gaming consoles, eat pizza on the government dime, get starbucks on the government dime and just live a pretty cozy life. Now THAT is just pathetic.

 

I wouldn't focus this much on what people do and how well or not well they live, but rather ask myself how much of their income goes into the banking system and I can guarantee you that at least 1/3rd would be the general level. Whether or not people pay their taxes doesn't matter as much as that they are allowing themselves to be drained by interest rates. So why even bother with the unconstitutional IRS and not just tax every banking transaction since people allow themselves to be financially enslaved anyways?

 

Well, my math is pretty simple. Though, I'm not sure I've got all you've spoken about right. Who are those 50% of citizens, who, as you say, earn almost as much as 1% of the richest, but pay no taxes?

I don't have anything against the corporations that make billions, really, but what I can't understand is why they should be treated in the exceptionally lenient way, as far as the taxation policy is considered.

 

Who are they? The ones at the Occupy Rallies and here in WI, the ones behind the recall efforts... The 53%...

I agree, corporations are treated differently. We have to pay twice. We have to pay more. I don't understand why we are treated differently either.

That's something most people never seem to take into account. The fact that wealth is not disappearing. It's simply being shifted from one place to another. The majority of it is being moved into the industry that controls it. It's almost like water. Liquid to steam that condenses and returns... It never disappears. The major difference is, unlike water, the money never seems to return.

And that is the big anachronism. You can actually EARN money by filing a tax return. If my wife and I were not married and she claimed our son on her income and we filed separately she would get MORE money back than she paid in. A lot of people play the system that way. By a lot, I mean 1/2.

This is the main reason I think that the tax code will never be scrapped. People have come to think of these returns as an entitlement. Just try and take away a single mom's windfall tax bonus at the end of the year. Not gonna happen. Too many people depend on this wealth sharing scheme. I just wish the people that benefit from this would have the cahoons to stop bitching about this 1% that ARE paying taxes... Nothing is more hypocritical than bitching about mean, nasty, evil corporations not paying their fair share when you are receiving more money back than you paid in. Where do you think that money comes from? Those mean, nasty, evil corporations...

 

Who cares how much of their income goes into the banking system. EVERYONE'S income goes into the banking system. That's not an exemption from paying taxes

 

Because money that goes into the banking system benefits no one in society.

Tax Revenue does. I also do not think he was suggesting we all be exempt from paying taxes.

 

As an Indian, i feel sorry to hear United States economy is under threat.

IF they avoid war trips to other countries and spending millions of tax payers money and make all financial position worst.

 

Millions on defense vs. Billions and Trillions on waste and things like Solar Ponzi Schemes... Hmm... You do realize that our problem is not the paltry amount we spend defending our way of life. It's the huge amount we spend trying to destroy it.

Millions smaller than Billions.. Trillions, bigger than both!