APP - The death spiral has begun: The US can no longer sustain itself.

DamnYankee

DamnYankee

Loyal to the end
Bankruptcy is the Democrat's plan, apparently:

In August 2009, the Congressional Budget Office (CBO) projected that the federal budget deficit would total $7.1 trillion over the 2010-2019 decade-under current law. That outcome would require the 2001 and 2003 tax cuts to sunset as scheduled in 2011 and Congress to stop "patching" the alternative minimum tax to minimize its bite. If neither of those things happens, CBO says the cumulative deficit over the decade would jump to $11.1 trillion, more than doubling the national debt. Our economy cannot sustain that rate of debt increase. How can we reverse it? This paper poses a simple question: could incremental reforms of the current tax system raise enough revenue to reduce the deficit to an average of 2 percent of GDP over the last five years of the budget window? We use the Urban-Brookings Tax Policy Center Tax Model to simulate several revenue-raising tax changes, including raising all income tax rates proportionally, hiking taxes only for high-income taxpayers, and either limiting or eliminating itemized deductions to broaden the tax base. We conclude that politically feasible tax increases within the current tax structure cannot generate sufficient revenues to bring federal budget deficits under control.
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http://www.urban.org/publications/412018.html
 
I think rising tax revenue as the recession recedes will do a lot to bring the deficit down to more reasonable levels. If more is necessary, then I think it would be politically feasible to pitch an austerity package consisting of spending cuts balanced wtih tax raises.
 
Bittermark said:
I think rising tax revenue as the recession recedes will do a lot to bring the deficit down to more reasonable levels. If more is necessary, then I think it would be politically feasible to pitch an austerity package consisting of spending cuts balanced wtih tax raises.
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The study shows that taxes can't be raised to generate the revenue necessary. The system is now unsustainable. Nice move Democrats!
 
LOLZ, thanks for that. Please tell me you pussies lost enough faith not to invest your vast earnings in the US stock market as the rich get richer.
 
Stock prices are rising because the value of the dollar is falling. It now takes more paper notes to buy the same widget. Divest your portfolio from muni- and government bonds if you haven't already.
 
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Studies show the stock market does better when a democrats in office. Hope you guy's aren't buying yet. He'll cut spending after he's a shoe in for re-election.
 
Topspin said:
Studies show the stock market does better when a democrats in office. Hope you guy's aren't buying yet. He'll cut spending after he's a shoe in for re-election.
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When the dollar is devalued then the price of stocks goes up because it takes more dollars to buy the same widget. You idiot.
 
Damocles said:
It's time to start printing the "It's the Spending, Stupid!" bumper stickers.
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Yes, raising taxes to levels high enough to completely quell the debt is impossible because people like you oppose raising them that high, so we can only cut spending. It's almost circular logic.
 
Southern Man said:
Stupid idea when Iran is about to have The Bomb.
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It is ironic though that Iran had signed the Nuclear Non Proliferation Treaty yet Israel has consistently refused to do so, even refusing to acknowledge their existence in the worst kept secret in the world. Netanyahu cancelled a trip to the US next week because he was scared that he might be asked some awkward questions.

http://news.bbc.co.uk/1/hi/world/middle_east/8610595.stm
 
Bittermark said:
Yes, raising taxes to levels high enough to completely quell the debt is impossible because people like you oppose raising them that high, so we can only cut spending. It's almost circular logic.
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Except it isn't. There is no way possible, even if we took 100% of all earnings from the top 10% (and you know that will never happen) that we could pay this debt. It's just stupid to think that we can raise taxes into prosperity. The most you can do with that is just make sure we all suffer the same amount.
 
tom prendergast said:
It is ironic though that Iran had signed the Nuclear Non Proliferation Treaty yet Israel has consistently refused to do so, even refusing to acknowledge their existence in the worst kept secret in the world. Netanyahu cancelled a trip to the US next week because he was scared that he might be asked some awkward questions.

http://news.bbc.co.uk/1/hi/world/middle_east/8610595.stm
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You don't know why Netanyahu canceled his visit. An equally valid reason is that he doesn't want to be dissed like last time Obama met with him.

Israel would be foolish to sign such a treaty. They are a small country surrounded on three sides by enemies sworn to destroy them, and the fourth side by the sea. Nukes give them great capacity to defend themselves. Iran, on the other hand, is smart to sign it for the very reason that you demonstrate: so pacifists can say that Iran signed the treaty. What you fail to understand however, is that Iran, unlike Israel, has no intention of keeping their promises.

Iran has stated that they intend to destroy Israel, is actively working on a bomb, and there should be doubt in a sane mind that they will use it as soon as they have it.
 
Southern Man said:
Stupid idea when Iran is about to have The Bomb.
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Not really considering we already have about 1000 more then they ever will. We could turn their entire country into the next space station, and our nuclear stockpile wouldn't even be dented.
 
Southern Man said:
You don't know why Netanyahu canceled his visit. An equally valid reason is that he doesn't want to be dissed like last time Obama met with him.

Israel would be foolish to sign such a treaty. They are a small country surrounded on three sides by enemies sworn to destroy them, and the fourth side by the sea. Nukes give them great capacity to defend themselves. Iran, on the other hand, is smart to sign it for the very reason that you demonstrate: so pacifists can say that Iran signed the treaty. What you fail to understand however, is that Iran, unlike Israel, has no intention of keeping their promises.

Iran has stated that they intend to destroy Israel, is actively working on a bomb, and there should be doubt in a sane mind that they will use it as soon as they have it.
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You do not know what Iran's true intentions are and the threats to wipe out Israel are just sabre rattling, as it doesn't have the capacity to do so. Anyway what makes Israel so special that they can ignore the world and go their own way. Everyone knows that they have at least 100-150 warheads so what exactly are they gaining by denying what is in the public domain already. Isn't it amazing that North Korea, India and Pakistan all have nuclear weapons and have not signed the NPT yet you are more concerned about Iran.
 
Southern Man said:
Stupid idea when Iran is about to have The Bomb.
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They will have The Bomb?!?

OHMYGAWDRUNFORTHEHILLS!!

Iran has ONE nuke...however will we defend ourselves since we only have 2,000-3,000 NUKES OF OUR OWN!

He bombs us, we lose some citizens and immediately turn his country into fused glass...eos!

I, unlike gutless Rightie Chickenhawks, am not afraid of other countries having nukes. They will NEVER have as many as the USA and we will wipe out anyone who detonates one on US soil.
 
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