One percent puppet heard from
Comments
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Hi there! What's the definition of entitlement? Maybe Bob can explain it for you.greenblood said:
People like to call Social Security an entitlement. SSI is, but standard Social Security is paid for through years of payments. It’s their fucking money, and they should get it.2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate. -
Yes and no. I'd be curious to see the data on what the average SS recipient paid in to the system vs what they received in benefits. Guess some of it has to do with how long you live.greenblood said:
People like to call Social Security an entitlement. SSI is, but standard Social Security is paid for through years of payments. It’s their fucking money, and they should get it.2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate. -
Trying to explain to a liberal that the issue isn't the stupid high amounts of tax the government takes in, but instead is the governments overwhelming desire ans ability to outspend all the trillions it takes is like putting toothpaste back in the tube.MikeDamone said:
It’s embarrassing to think that government revenue is a problem. It’s not.2001400ex said:
Damoan hates context. Doesn't realize how embarrassing it is to say federal revenues are at an all time high and can't have an effect on the deficit.MikeDamone said:
Federal revenue is at an all time high... But yeah, tax cuts!2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate. -
You've oft stated Damone that #taxationistheft . And to some extend I'd agree with you. But I tell you what - if we keep running these massive deficits - and at this point they are a bi-partisan problem - and the guvmint has to use MMT to inflate the problem away I'm gonna be pretty god damned pissed. #inflationisthefttooMikeDamone said:
Federal revenue is at an all time high... But yeah, tax cuts!2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate. -
So, here's the thing, I'm against government largess for reasons of efficiency, free markets, blah blah blah and I think anyone who has spent time in the tug knows I'm no tax and spend liberalYellowSnow said:
You've oft stated Damone that #taxationistheft . And to some extend I'd agree with you. But I tell you what - if we keep running these massive deficits - and at this point they are a bi-partisan problem - and the guvmint has to use MMT to inflate the problem away I'm gonna be pretty god damned pissed. #inflationisthefttooMikeDamone said:
Federal revenue is at an all time high... But yeah, tax cuts!2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate.
buuuuuuutttt we've essentially convinced the rest of the world to use our currency as the world reserve currency(for historical reasons we are probably the only meaningful country to never default on its debt, thank you George Washington). That means that we are effectively able to finance our debt at negative rates while the rest of the world gets a safe haven for their stored value.
This is like boosters offering recruits loans at negative interest rates, we can use it to buy a new camaro, a sound system, strip clubs, etc. or we could also use it to pay our tuition, buy a house, or start a business.
Sure, we can spend the excess cash on entitlements to short-term boost the consumption of a select group of citizens, or we can invest the money in areas the government is actually an effective agent at growing long term productivity(R&D for example), which will further spur GDP growth which will ultimately reduce our debt to income ratio as well. -
The money you pay in is not actually put in the Al Gore lock box where it can compound for 40 years like your private account. So the answer is if you live you'll get more than you pay, It was based on people dyingYellowSnow said:
Yes and no. I'd be curious to see the data on what the average SS recipient paid in to the system vs what they received in benefits. Guess some of it has to do with how long you live.greenblood said:
People like to call Social Security an entitlement. SSI is, but standard Social Security is paid for through years of payments. It’s their fucking money, and they should get it.2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate.
Mitch is still a worthless piece of shit though. Bears repeating -
We could further, also be using these funds to help spread democracy and development of our allies across the world(which we do but extremely stupidly I might add) while still reaping a profit. Loans at favorable interest rates that are still above our effective interest rate to develop infrastructure with countries we want favorable relations with while collecting a profit.
This is part of what China has sneakily done with development loans(that we fund), take a loan out at a low rate meant for "development", then turn around and give some place like Sri Lanka a loan at an even higher rate, and collect the profit while also gaining influence. -
Imagine understanding this.UW_Doog_Bot said:
So, here's the thing, I'm against government largess for reasons of efficiency, free markets, blah blah blah and I think anyone who has spent time in the tug knows I'm no tax and spend liberalYellowSnow said:
You've oft stated Damone that #taxationistheft . And to some extend I'd agree with you. But I tell you what - if we keep running these massive deficits - and at this point they are a bi-partisan problem - and the guvmint has to use MMT to inflate the problem away I'm gonna be pretty god damned pissed. #inflationisthefttooMikeDamone said:
Federal revenue is at an all time high... But yeah, tax cuts!2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate.
buuuuuuutttt we've essentially convinced the rest of the world to use our currency as the world reserve currency(for historical reasons we are probably the only meaningful country to never default on its debt, thank you George Washington). That means that we are effectively able to finance our debt at negative rates while the rest of the world gets a safe haven for their stored value.
This is like boosters offering recruits loans at negative interest rates, we can use it to buy a new camaro, a sound system, strip clubs, etc. or we could also use it to pay our tuition, buy a house, or start a business.
Sure, we can spend the excess cash on entitlements to short-term boost the consumption of a select group of citizens, or we can invest the money in areas the government is actually an effective agent at growing long term productivity(R&D for example), which will further spur GDP growth which will ultimately reduce our debt to income ratio as well. -
That's not really the question tho. Most of our government spending is social security, Medicare and the military. The amounts that conservatives rail on that they want cut, food stamps for example, are miniscule in relation to the government as a whole. That's why conservatives don't actually ever cut spending even tho they campaign on it.Swaye said:
Trying to explain to a liberal that the issue isn't the stupid high amounts of tax the government takes in, but instead is the governments overwhelming desire ans ability to outspend all the trillions it takes is like putting toothpaste back in the tube.MikeDamone said:
It’s embarrassing to think that government revenue is a problem. It’s not.2001400ex said:
Damoan hates context. Doesn't realize how embarrassing it is to say federal revenues are at an all time high and can't have an effect on the deficit.MikeDamone said:
Federal revenue is at an all time high... But yeah, tax cuts!2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate. -
Trump's plan to cut taxes, invest in infrastructure, and go full Reagonomics isn't as batshit as people like to make it out to be.GrundleStiltzkin said:
Imagine understanding this.UW_Doog_Bot said:
So, here's the thing, I'm against government largess for reasons of efficiency, free markets, blah blah blah and I think anyone who has spent time in the tug knows I'm no tax and spend liberalYellowSnow said:
You've oft stated Damone that #taxationistheft . And to some extend I'd agree with you. But I tell you what - if we keep running these massive deficits - and at this point they are a bi-partisan problem - and the guvmint has to use MMT to inflate the problem away I'm gonna be pretty god damned pissed. #inflationisthefttooMikeDamone said:
Federal revenue is at an all time high... But yeah, tax cuts!2001400ex said:He is partially right. Medicare and Medicaid had cost cutting moves under Obamacare. Social security needs to be tackled now. But all three are increasing drastically because of baby boomers.
He does leave out the moves the last two years that have hurt the deficit. Being the tax cuts, increase in military spending, repealing the individual mandate.
buuuuuuutttt we've essentially convinced the rest of the world to use our currency as the world reserve currency(for historical reasons we are probably the only meaningful country to never default on its debt, thank you George Washington). That means that we are effectively able to finance our debt at negative rates while the rest of the world gets a safe haven for their stored value.
This is like boosters offering recruits loans at negative interest rates, we can use it to buy a new camaro, a sound system, strip clubs, etc. or we could also use it to pay our tuition, buy a house, or start a business.
Sure, we can spend the excess cash on entitlements to short-term boost the consumption of a select group of citizens, or we can invest the money in areas the government is actually an effective agent at growing long term productivity(R&D for example), which will further spur GDP growth which will ultimately reduce our debt to income ratio as well.
Investments can also be rolled back if the economy changes, entitlements can never be.
