National Debt

[lurker]

Yelp! We're approaching a total US National debt that equals $30,000 for every living US Citizen. As of last Thursday our elected officials had accumulated an outstanding debt of $8,190,567,748,779.48.

That's 8 Trillion, 190 Billion, 567 Million, 748 Thousand, 779 Dollars and 48 cents. To put it in perspective; of the 275 million US citizens, we'd have to cough up nearly $30,000 apiece. Another way to pay it off is to simply sell all the US land (no, not the land the Feral Gummit holds. ALL of the land... your's and mine, too).

So, let's call the Kirk Brothers and have them auction it. All 3 Million, 537+ Thousand square miles of it.... and hope we break even by finding a buyer willing to pay $2.3 Million for every square mile.

Yup. We screwed... but they bought a lot of Power for themselves with our assets.

Do you know how this happened...? Hint: think payroll deductions....

[Bubba]

Boy, they've been busy spending since last Thursday....according to this site it's up to 8 trillion, 213 Billion + dollars as of 7:43pm

http://www.uwsa.com/uwsa-usdebt.html

[lurker]

Yup. Spendin our asses off is their bidnezz.... and they're sooo goooooood at making friends wit' it.

[Highwayman]

My biggest problem with the Bush administration is he spends too much. Keeping that in perspective, any Democrat would spend more. John Kerry has been openly critical that Bush fails to spend enough. Attempts by Republicans in Congress to cut spending anywhere are met with strong resistance by the Democrats. The Democrat solution is to raise taxes. Tax revenues are currently at record highs and still not enough.

I don’t buy the line about “tax the rich” either. Trust me, if you make enough to pay income taxes, you’re the wealthy and need to pay more. The Dems were using the tax the rich line prior to the passage of the 16th Amendment (establishing the income tax) when the tax rate was 2% on the wealthiest Americans.

[Army_of_One]

Originally Posted by Highwayman

I don’t buy the line about “tax the rich” either. Trust me, if you make enough to pay income taxes, you’re the wealthy and need to pay more.

? Are you saying you agree with a progressive tax on the wealthy? IE: The more you make, the more you pay?

Between the Billions we are shelling out for the War on Terror and the money we are handing the Hurricane Katrina victims to spend on booze and strippers it's no wonder our national spending is out of control. I believe it would be hard to keep spending under control when you have two huge budget busters like Katrina and the War on Terror. At least George W. didn't raise taxes....that would slow the economy. Running up the debt is the lesser of two evils in my opinion.

[lurker]

We will do what we've done every time before.... inflate the dollar to pay back with cheaper dollars. It's happening right now but not acknowledged.

[Highwayman]

Originally Posted by Army_of_One

? Are you saying you agree with a progressive tax on the wealthy? IE: The more you make, the more you pay?

I see the point of your question Army. Poorly worded on my part, sorry. Let me try this;

Trust me, if you make enough to pay income taxes, the Democrats think you’re the wealthy and need to pay more.

I’d prefer to see a flat tax or consumption tax over the current system. Both have some shortcomings but are better than what we have now.

[Army_of_One]

Originally Posted by Highwayman

I see the point of your question Army. Poorly worded on my part, sorry. Let me try this;

Trust me, if you make enough to pay income taxes, the Democrats think you’re the wealthy and need to pay more.

I’d prefer to see a flat tax or consumption tax over the current system. Both have some shortcomings but are better than what we have now.

Whew....You scared me there for a minute...lol. With what I know of it, the consumption tax sounds pretty good. I agree with what you say about the Dems "rob from the rich and give to the poor" attitude.