Wednesday, April 20, 2011

Brother, Can You Spare A Trillion?: Govt Gone Wild

9 comments:

Anonymous said...

before you blisten to this guy check out his record
http://www.tampabay.com/news/business/realestate/blaise-ingoglia-used-deceptive-sales-tactics-burned-real-estate-investors/1027943

one reason that we have a large deficit is that we have systematically reduced taxes on the wealthy and corporations and have engaged in unprodcutive and useless wars in the middle east

In orther words it *is* reallya revune problem not simply a spending probklem.

Moreover the author of this video is himslef a big time real estate speculator who has done his part to create the problem he rails against.

SCATS said...

To 5:43PM ~~ I disagree about your reason for why we have a large deficit! In case you have troubles seeing I'll make it easier, because the answer is really very simple.

WE HAVE A LARGE DEFICIT BECAUSE WE SPEND AND/OR BORROW TOO MUCH $$ !!!

Anonymous said...

Thank you scats - you said it very well.

SCATS said...

To 9:06PM ~~ ;) Thanks.

Anonymous said...

Admittedly we spend more than we take in. Raising taxes (or eliminating some of the special tax breaks) would permit money to be spent more wisely. Interesting article in Time this week on how our military spending has jumped since 9/11 to build aircraft carriers that are obsolete, to build planes that are obsolete,to continue to build submarines that are redundant and unnecessary, to keep military personnel around the world in places they are not needed. Cutting a trillion or so from the military budget would go a long way in cutting the over-spending and would still leave the military with more money than prior to 9/11 .
I think we could do a lot if we did zero-based budgeting, caped the military budget, and looked at increasing revenues. Just the sort of thing every family does when they are need to get debt under control. It just takes the will to do it, and the ability to say, "No" to powerful congressional representatives and lobbyists.

SCATS said...

To 9:51PM ~~ How many people do you know who aren't in debt? How many people do you know who live BENEATH their means? I'm guessing few to none. Creating debt is the American way. Why should govt be any different?

Charlie Hubbard said...

to 9:51 (anonymous)
Not one more dollar in taxes until government at all levels can demonstrate the will to reduce spending.
SPENDING is out of control. Tax increases of any kind is a cop-out. Show the ability to fix the spending 'then' talk to me about more revenue.

You identify the military budget and you may be right. I would identify those feeding at the government utter. The point being we have been completely irresponsible at ALL levels of government feeding ALL kinds of entitlements. We are in an entitlement epidemic and the taxpayers have been disrespected every step of the way.

How in gods name can any elected official approve spending more $$ than they have in income? Then turn around and do it again and again. Give them more money is a guarenteed way to continue that irresponsibility and taxpayer disrespect.

Now allow me to take this to the local level. Last May taxpayers said no to the Greece school budget and what happened? The school board said 'screw you WE are going to increase your taxes anyway' and 'we don't care how you voted'. Now tell me THAT doesn't demonstrate the type of DISRESPECT shown to taxpayers not to mention the message sent to our kids about democracy???

So when ANY level of government spends money they don't have - think of how how disrespectfull they are being to taxpayers. You have to regain my trust before I am going to be willing to give you one more dollar.

chubbard005@rochester.rr.com

Anonymous said...

There's a big difference between manageable debt and unsustainable borrowing. The people I know who have payments on a house or car are making progress paying it off. The government keeps spending like we can borrow from the Chinese forever. At some point we need to balance up the income and the outgo.

SCATS said...

To 7:30AM ~~ The people I know don't limit their debt to a car and mortgage payment. They have credit card and other debt coming out their ears! And when it comes to home or car payments, most aren't living in the "average" home valued at $120K or driving a $15,000 Kia or Hyundai either ;)

Americans don't know or realize that the "secret" to financial freedom is LIVING BENEATH YOUR MEANS.