Posted on 07/23/2018 10:42:32 AM PDT by Kaslin
Under Reagan, tax receipts doubled. Trouble was, spending tripled.
Yes there are pitfalls. We’ll have to look out for them.
I still think we’re headed in the right direction.
Trump has set us on a course to see massive inflow to the treasury. He’s also looking at welfare and trimming expenses.
There will have to be spending on the military also.
He’s on the right track.
Revenues are up, but saying that they are "up massively" is quite an exaggeration.
He’s also looking at welfare and trimming expenses.
A lot of lip service has been paid to "looking at welfare and trimming expenses" and nothing has been done. Trouble is that Trump is on record as saying no cuts to Social Security, Medicare, and Medicaid. Which means he isn't any more serious about balancing the budget than Congress is.
I didn’t say they were up massively. I said he put us on a course to see massive inflow to the treasury.
Whether you like it or not, seniors worked their lives under a system they had no control over. Their money was taken, it wasn’t invested, and there was no growth.
Now they are dependent in part on that money. That money should not be taken away.
If you want to do something realistic about Social Security payouts, get the government to privatize Social Security, so that when others retire, they will have a much better payout and the government will not be on the line to pay out more than they took in.
Any plan started today, will see half of seniors out of traditional social security in 20 years. Another 20 and it would be over.
OK then inflows to the Treasury are up, but not up massively. Happy?
If you want to do something realistic about Social Security payouts, get the government to privatize Social Security, so that when others retire, they will have a much better payout and the government will not be on the line to pay out more than they took in.
And then how to they pay for the current retirees?
No, because you are still inferring I said that inflows are up massively. I didn’t. I said he has put us on the course to see massive inflow to the treasury. This sort of thing has been demonstrated before in the Reagan administration where tax receipts went up 100% over time. That is massive.
As tax receipts go up, so does our ability to pay out Social Security and Medicare. They are taken from the general fund.
If our tax receipts do double, you can see the benefit to all areas of outlay.
There is no reason why the government tax receipts should falter either, as our work force grows nearly 20% every eight years. More workers, more tax receipts.
That’s how it worked for forty years from 1960 to 2000. We’re now back on track with job creation.
We can argue semantics all day long and probably not agree, but one thing I hope we can agree on is that so long as spending increases faster than revenue then it’s unsustainable. And right now spending is increasing faster than revenue and there does not seem to be a plan in place, either with the Administration and certainly not with Congress, to change that.
We are 18 months into the Trump administration.
Please quit acting like we’re winding down to the last three months of it.
It may help you to think of the revenue we’ll be bringing in by charging tariffs to bring our trading partners back into line.
And the deficit is on track to break $1 trillion this year. How long before it begins going down?
It may help you to think of the revenue we’ll be bringing in by charging tariffs to bring our trading partners back into line.
Tariffs are designed to discourage imports so their purpose should be to price themselves out of existence as the amount of imported goods decline, hopefully to zero. They are, at best, a temporary measure by definition.
Okay, then lets just burn the tens or hundreds of billions. Good call.
Trump adds these things together to give our treasury a big boost.
If we bring in a few hundred billion in tariffs over the next few years, isn’t that good? It will help us in other ways as well.
Why are you so negative?
Adding a few hundred billion on other taxes would do the same, would it not? I thought we were supposed to be opposed to taxes and spending. Silly me.
Put the burden on the backs of people that buy imported goods and services. Tariffs are the answer here....
Well then, I guess I can chalk up one more person who doesn’t like our Founding Fathers.
Nice work.
Does that mean I can chalk you up as one more person who is in favor of higher taxes?
I didn’t support higher taxes.
I supported what the Founding Fathers did.
We funded our federal government solely by tariffs until the early 1900s.
Thanks. :-)
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