Posted on 05/12/2010 11:37:46 AM PDT by NormsRevenge
From the article: “However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.”
Partly true, but it doesn’t begin to tell the tale. The shifting of the tax burden to the few who produce a lot has had a predictable effect; those who can avoid taxation avoid it, those who can’t reduce their productivity.
Not bad really, at the rate we’re going ( that is, if we have similar budget deficits every month), the budget deficit for 2010 will be about $1 Trillion.
Isn’t that less than their estimate ?
Oh, we’re going to repudiate it. That’s the only consolation I have over any of this, is that I know in the end it CAN’T work. I understand that this is their plan, to cash in all our chips and leave us helpless, but I also know that a certain, large, percentage of this country rolls up its sleeves and pulls together in an emergency, while another big chunk sits down and waits for somebody to give them something. I know which team I’m on.
I know. I was just exposing the tendency of the opposition to condemn the mote in someone else’s eye while ignoring the beam in their own.
Yikes. It makes Clinton look good. Compared to Obama, I bet we all wish Bill was back.
Tax revenues will continue to decline as jobs are shipped overseas. Shouldn’t reducing outsourcing and the destruction of our industrial base be a conservative issue now that it has gone too far?
Clinton cut a lot out of defense spending riding on the peace dividend from the Reagan/GHW Bush years.
He was also restrained on welfare spending by a Republican congress for 6 of his 8 years IIRC.
Personally I see big inflation ahead. I pulled out 80% of my house equity @ 5% fixed for 30 yrs.
That’s an excellent graph.
I’m probably a good example of going from paying max SS and Medicare tax to receiving SS @ 62 and going on Medicare in 3 yrs.
I know there are many in the same situation. It’s a no brainer that our country can’t support this. Only the Baraqqis at AARP believe there is actually a Social Security “trust fund”
I’ve decided that taxes are just a tool to punish the successful and keep the serfs in line to these people. Watering down the currency is where the real money is at, and you don’t have to ask ANYBODY’s permission to do that.
Course, at some point the Chinese may be willing to go as far as war over it, because it’s stealing from them just as much as it’s stealing from the American People.
GDO. FUBO. It’s in the bible.
vpintheak wrote: “OBAMAS FAULT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
“
Isn’t OWEbama still trying to blame Bush for the bad economy?
Sure he is, but who beyond O-bots believe it?
Can we get a recount of Ohio?
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