What's wrong with socialism? In the US the 2 big social programs (SS & Medicare) have a $60 trillion unfunded deficit. Spending on these 2 programs & interest will eventually surpass tax revenue.
What's wrong with socialism? In the US the 2 big social programs (SS & Medicare) have a $60 trillion unfunded deficit. Spending on these 2 programs & interest will eventually surpass tax revenue.
Originally posted by: tom
What's wrong with socialism? In the US the 2 big social programs (SS & Medicare) have a $60 trillion unfunded deficit. Spending on these 2 programs & interest will eventually surpass tax revenue.
You continue to not understand what a deficit is.
If the needed funds are not collected by tax revenue, then tax rates will have to go up. Simply returning them to where they were before Trump gave his tax handout to the rich would solve that problem.
In any case, that's not anything that's right or wrong with socialism in general, it's something that's wrong with taxation and budgeting.
Kevin - still stuck on stupid.
You want MFA, but the present program has a huge deficit.
It works out to $180+k per person in the US
These deficits were in place long before President Trump took office, so the tax cuts have nothing to do with it.
You ask what is wrong with socialism? The answer is that eventually you run out of other people's money.
Originally posted by: Kevin Lewis
You continue to not understand what a deficit is.
If the needed funds are not collected by tax revenue, then tax rates will have to go up. Simply returning them to where they were before Trump gave his tax handout to the rich would solve that problem.
In any case, that's not anything that's right or wrong with socialism in general, it's something that's wrong with taxation and budgeting.
Kevin, tax revenues have increased under Trump. If you don't know this, shame on you. If you do know this, please explain your previous comments.
Another conversation about socialist fiscal irresponsibility in the backdrop of trillion dollar deficits ushered by Republicans?? Well thats always good for a laugh, isn't it?
The last two "socialist" administrations lowered the deficit. all of the Republican admnistrations since Nixon increased the deficit. Thats basic, easily queried history.
So the only question is- What kind of "ism" is it that make Republicans run up the deficit? Tell ya what - Lets call it "retard-ism".
And if you extrapolate it out over the same unnamed time period that Tom does with Medicare you get a really, really big number for the national debt. It might be even too big for retards to count.
but thanks for stopping by.
The deficit was doubled under Obama. I can't understand why this is such a difficult concept for you.
The trillion dollar deficit & the future annual deficits are being driven in a huge part by SS & Medicare spending, which nobody wants to address.
Originally posted by: tom
The deficit was doubled under Obama. I can't understand why this is such a difficult concept for you.
The trillion dollar deficit & the future annual deficits are being driven in a huge part by SS & Medicare spending, which nobody wants to address.
I understand what the definition of “deficit” is. You’re still struggling after more than 10 years of posting here and debating this very topic.
Democrats have detailed bills to address Social Security and Medicare. trump has “something great” that’s way better and a balanced budget by the end of his first term. And we know which of those two entities you chose. So do us a favor, Tom. Pick up a dictionary and learn what “deficit” means...and then study the fiscal results on deficits from the last 50 years....including the current administration.
You might learn something and your future posts might be less embarrasssing.
Originally posted by: tom
You want MFA, but the present program has a huge deficit.
It works out to $180+k per person in the US
These deficits were in place long before President Trump took office, so the tax cuts have nothing to do with it.
You ask what is wrong with socialism? The answer is that eventually you run out of other people's money.
You're not being very clever, wheeling out a quote from Margaret Thatcher, aside from that quote being idiotic and fundamentally wrong. Under a socialist economy, it's not "other people's money" that is spent. It's everybody's money, which is spent on behalf of everybody. The cutesy-poo sound bite from Thatcher is appealing to people of limited intellect.
A "deficit" is a shortfall in present funding. You are confusing that with "unfunded liability." The federal budget has a huge Trump deficit, which means that everything is underfunded, not just Medicare. Trump is forcing the government to borrow the difference between revenues and expenditures, which drives up interest rates and imposes interest costs--which must be paid. In contrast, the unfunded liability is the sum of ALL potential expenditures, which includes Medicare benefits that might be paid to people who are now, say, eight years old. So of course, that number is large. But it doesn't represent any real monies that will have to be spent--as opposed to the shortfall imposed by Trump's deficit.
Now do you understand? Fuck, no. This is all beyond you.
Originally posted by: Boilerman
Kevin, tax revenues have increased under Trump. If you don't know this, shame on you. If you do know this, please explain your previous comments.
Tax revenues have increased under every President since WWII--including Obama. Why? Because the population has grown under every President. Also, because of inflation, the gross numerical amount of taxes collected would have grown by the inflation rate even without an increase in tax revenue sources. So there are two factors contributing to increased tax revenue that have absolutely nothing to do with any President's economic policies.
I guess you want to give the bigly Orange One credit for the population increasing and for inflation!
Jesus God, you're an idiot!
