DonLibes
Premium,ExMod 2001
join:2003-01-19
| reply to Beeper
Re: The Clinton/Gore Comedy Troup
said by Beeper  :
said by DonLibes :
For starters, he's lied about the very issue you mention - tax cuts including who benefits and how it will affect the economy.
Since I pay taxes, I will benefit. Since rich people pay just about all of the income taxes in America, they will benefit.
Actually, you won't benefit. Not in the short term or the long term. In the short term, the refunds will be made by raising taxes elsewhere (state and local governments for starters). But the reality is we don't have the money to give back, so the US is going into debt to provide the tax cuts. Further debt, that is. The long term is that you're going to have to pay back the current cuts plus all the interest plus the existing debt and its interest that we're already trying to ignore. When the baby boomers start to retire, the US is going to be in deep trouble. |
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havinfun
join:2002-01-29
Schenectady, NY | Until spending is harnessed, the dream of paying off the debt is just that. |
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Beeper
Part Of The Problem
join:2001-09-27
Dayton, OH
clubs:
| reply to DonLibes
said by DonLibes :
HR> Actually, you won't benefit. Not in the short term or the long term.
In the short term, I am expecting to get about $600 off of my 2003 taxes. That's a benefit.
In the long term, I am expecting to do nicely with dividend and capital gains tax reduction. My SPDR's will continue to build a long term nest. That's a benefit.
said by DonLibes :
In the short term, the refunds will be made by raising taxes elsewhere (state and local governments for starters).
I don't see any tax hikes in for me locally. Elected officials don't last long in office (see Dick Celeste) in Ohio.
said by DonLibes :
But the reality is we don't have the money to give back, so the US is going into debt to provide the tax cuts.
The debt is largely irrelevant. It is a fraction of GDP. US interest rates are incredibly low despite government borrowing.
said by DonLibes :
When the baby boomers start to retire, the US is going to be in deep trouble.
Only if new benefits are awarded them, like free prescription drugs. US demographics are positive. The largest population boom US history (Baby Boom echo) is underway. Coupled with heavy immigration, the population pyramid is in good shape.
»www.usatoday.com/news/nation/200···at_x.htm
There are plenty of future tax payers in America. Contrast with to Japan, Germany, and Italy.
»www.census.gov/ipc/www/idbsum.html
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Guaranteed Fear and Loathing. Abandon all hope. Prepare for the Weirdness. Get familiar with Cannibalism. |
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raptorsasd
join:2003-05-23
Wichita, KS
| i agree i dont care who is or was president. i made a little bit of money with bush sr. i was making great cash flow under clinton. i am still making money under bush jr.
you could put ted bundy, marlynn manson, hell even put bozo the clown in as president i will still make a good income and residual income/benifits from all of the things i am in to. |
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@attbi.co
| reply to Beeper
The United States GDP in 2002 was 11 Trillion Dollars and the national debt is 6 Trillion Dollars
The low interest rates are causing the dollars international presence to drop.
So your SYPDR's won't be doing better anytime soon :P
Economy boosting tax cuts are SHORT TERM (1-2 yrs) and they are paid with GOVERNMENT SPENDING CUTS. |
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