Archive for April, 2011
April 24th, 2011 | 
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Two senators have called for a 25 cent rise in the federal gasoline tax to pay for road and bridge construction and maintenance and debt reduction. Tom Carper of Delaware, a Democrat, and George Voinovich of Ohio, a Republican, wrote to President Obama’s commission on reducing the federal debt, proposing the measure. They suggest that 10 cents of the increase go toward paying down the debt, and the rest toward transportation infrastructure.
I know some of you are gonna scream “NO taxes anywhere on nothing!” But with those of you who have rational knowlege and can drop the talking points and hyperpartisanship, it is obvious that the bush tax rates alone simply have not ever raised enough revenue to meet spending, and it just isn’t possible to cut enough spending to gain a net surplus with those rates without raising something or cutting military spending.
But I know a higher gas tax would both raise revenue, and it would force people to consider the cost of gas when purchasing automobiles. I don’t think people will make this decision on their own, ever. We have to reduce our consumption, and raise revenue, and I think this is a good way.
What do you think?
Duane
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How does a deficit and debt reduction commission propose tax cuts? (Don’t give me that crap about tax cuts increase revenue of pay for themselves or always help the economy because we all know that that’s not always the case)
Kristal Falkenstein
Look at this disgrace and this is what they want to do to us too.
http://www.dailymail.co.uk/news/article-1266643/Microsofts-Chinese-workforce-tired-stay-awake.html
These are monopolies and they are evil. The bible warns us that in the future China would come to power and that a persons wage would be nothing but a few cents.
The best way to reduce our dependence on oil and to clean our environment while taking us to the future of technology is to find alternatives to oil. The best way to do it is like this.
http://www.autoobserver.com/2010/12/as-national-debt-reduction-debate-boils-edmunds-ceo-says-raise-gas-tax.html
I knew I wasn’t the only one who felt like this. Shouldn’t we put an end to sweatshop labor caused by American Monopolies who want to overthrow our government?
Since the government won’t do a damn thing about it then the American people should. Its time to stop buying sweatshop products and let them go out of business.
Carla Companion
If you are not a focus person with a large attention span you will not answer this question. You probably already saying “get to the point”. A while back I had a job as a tax professional working with my father who was a CPA. I was always excited when I could find some deduction for some people who needed. I used to tell my father that we could use the same loopholes and deductions but he said to me “taxes always return to us, in services for those who need it and infrastructure, and we are not going to starve without it, so if we pay a little more it does not matter our conscience will let us sleep the sleep of the just’. I find that those words were true of everybody I met. Now, I am so ashamed to be in this world, although I still think the same way and act the same way thanks to my upbringing I notice that most have traded their God given conscience for the principles of “debt reduction, fiscal n, credit ratings, financial success and identity theft.” The poor and the less fortunate is not thought of by anyone especially for those who are in the position to do so. I do not know how many people are here in YA that have an income over 250 thousands per year but If I was one of those I would say I would not starve without it. I wish the tax cuts end even for us because we would not starve without it. I wish the tax cut was only for those families who earn less than 50 thousand dollars per year. This tax cuts have been in place for more than 5 years and jobs were not created because of them. I do not know how the upper 10% of the population sleeps without a little bother of their conscience. Did their parents think the same way. Did they have different values than these country use to have? Any thoughts, please I encourage long answers my attention span is large.
Candace
Seriously though, they claim their cause is to reduce government spending, lower taxes, with a reduction of the national debt and federal budget deficit…
Although, it seems like their only plight right now is to impeach President Obama. After Obama is out of office, will they find another scape goat perhaps? Just curious.
Boyce Rodrguez
If you are not a focus person with a large attention span you will not answer this question. You probably already saying “get to the point”. A while back I had a job as a tax professional working with my father who was a CPA. I was always excited when I could find some deduction for some people who needed. I used to tell my father that we could use the same loopholes and deductions but he said to me “taxes always return to us, in services for those who need it and infrastructure, and we are not going to starve without it, so if we pay a little more it does not matter our conscience will let us sleep the sleep of the just’. I find that those words were true of everybody I met. Now, I am so ashamed to be in this world, although I still think the same way and act the same way thanks to my upbringing I notice that most have traded their God given conscience for the principles of “debt reduction, fiscal n, credit ratings, financial success and identity theft.” The poor and the less fortunate is not thought of by anyone especially for those who are in the position to do so. I do not know how many people are here in YA that have an income over 250 thousands per year but If I was one of those I would say I would not starve without it. I wish the tax cuts end even for us because we would not starve without it. I wish the tax cut was only for those families who earn less than 50 thousand dollars per year. This tax cuts have been in place for more than 5 years and jobs were not created because of them. I do not know how the upper 10% of the population sleeps without a little bother of their conscience. Did their parents think the same way. Did they have different values than these country use to have? Any thoughts, please I encourage long answers my attention span is large.
Christina Stathes
we were in good shape until we lost work , we are making a comeback but over the past three years we have been unable to reduce any debt it is about 15$ that we have. I don’t feel bad about it because we were able to stay in our house and have food and heat and( COMPUTER access lol) but I do not have a clue how to get it down we pay and it goes no place . I have a bad credit score because of this so that is not the issue for me. I know at this point our house payment is first . If we don’t make the payments it goes up if we make the payments it goes up we are going around and around but we are not making nearly the money we used to and our mortgage is still high ,we do not qualify for any assistance we have tried. What should we do , not pay and try and settle for a less amount . pay and not see any reduction. we have very low interest on them as it is .it is a waste of money to pay and no reduction on the balance.
should we take from our retirement to pay it off or is there some other way we are 40 yrs old and only one retirement plan my husbands I am self employed and no savings anymore
Lili Pinke
a. Delegates from the different colonies held a protest meeting in New york.
b. The sons of liberty threatened tax officials.
c. Colonial war debts were paid.
d Colonists boycotted British goods
e. London merchants suffered from a reduction in trade.
Jaime Lazar
Now obviously, I realise it does but I want to understand “how” it matters, and the difference in the national debt versus government debt. I will put all figures in pounds with dollar conversions in brackets.
If you take the U.S. and the U.K. economies for example.
Here in the U.K. we have a government running around like headless chickens ripping money out of everything, trying to cover a £150 billion ($242 Billion) overspend and lower it to 0 within 8 years. They are pulling £4 billion out of voluntary and charity organisations, they have pulled ALL the extended funding (called EMA) for 16 to 18yr olds in college.
Thats on top of 15 to 25% reduction in local government budgets for cities up and down the country which we are expecting to result in half to three quarters of a million people losing their public sector jobs over the next 12 to 24 months with probably another 150 thousand + going from the private sector that relies on public sector to buy many of its products and services.
So, its a slash and burn tactic, everything is for sale, everything must go. No growth programs, just normalisation of the budgets and to hell with the consequences.Yet even if they accomplish this insanity and do actually manage to balance the books, we still have a national debt of £1.2 trillion ($1.93 Trillion) with a GDP output of £2.17 Trillion
Then you have the USA…
they are planning government debt reduction of £750Billion ($1.2Trillion) over ten years, they are not planning anything like the draconian measures here in the UK, and for all intents and purposes, though not a perfect solution, borrowing and slowly growing their way out of their recession whilst slowly reducing that borrowing has worked for them with growth rates at 2.8% annualised V our UK growth contraction of 0.6%.
But even so, when all is said and done, and say they do actually manage to balance the government budget for the first time since Clinton (who`s team managed to balance them so well, the US Government had a $75 billion surplus per year) There is still an 11.8 Trillion dollar national debt against a GDP of 14.3 Trillion dollars.
And don’t even get me started on UK and US trade deficits…
So, what’s the point of all this pain if for all intents and purposes, were only going to have to go through worse in ten or twenty years when the markets realise we’ve sold our gold, we’ve sold our companies to china, we’ve stripped all our natural resources and sold them and all we have left is the paper with our debt numbers on it.
Luther Munkberg
The co-chairmen of Obama’s debt-reduction commission will propose cuts to Social Security and Medicare as well reduce or eliminate deductions people can take on their income taxes. Do you agree with the commission?
Jacinto Living