Economy It pisses me off that Liberals do not want to cut the budget AT ALL

[DoctorTaco]

Military spending is significantly higher than any other country in the world. You could start by saving there. I think it is close to a quarter of the budget. Military spending has doubled since the 90s and significantly higher than anywhere else in the world.

22% for 2025

 

[K-Bag]

Literally everything OrangeMan does is bad no matter what.

 

[avenue94]

This thread is hilarious. Bravo. I got some good laughs, lol.

This thread is the best example I've seen of why you should pay attention in civics class. It's like watching 5 year olds guess what US spending looks like, except they're absolutely convinced their right.

 

[sickc0d3r]

This thread is the best example I've seen of why you should pay attention in civics class. It's like watching 5 year olds guess what US spending looks like, except they're absolutely convinced their right.

Look man, if I can keep my wife from spending all our money on shoes and boxed wines, the government can damn sure balance the budget.

 

[avenue94]

Look man, if I can keep my wife from spending all our money on shoes and boxed wines, the government can damn sure balance the budget.

Ya, pretty much the logic. I think a lot of these folks also have trouble literally understanding on an intellectual scale how many zeros are in a trillion and the kind of scales we're talking.

Also apparently all these folks with balanced household budgets don't take out mortgages or big loans ever lol

 

[Substance Abuse]

This thread is the best example I've seen of why you should pay attention in civics class. It's like watching 5 year olds guess what US spending looks like, except they're absolutely convinced their right.

Smartest guys in the room. Borderline DEI hires, lol.

 

[sickc0d3r]

Ya, pretty much the logic. I think a lot of these folks also have trouble literally understanding on an intellectual scale how many zeros are in a trillion and the kind of scales we're talking.

Also apparently all these folks with balanced household budgets don't take out mortgages or big loans ever lol

I mean there’s also the fact that gov’t spending is private income, two sides to the ledger when we’re talking about the economy. It’s not at all like a household budget. Plus Trump is cutting taxes, so we’re talking massive cuts that directly hurt the middle class if he wants to go all austerity on our asses. That will play well come the next election cycle. This is why he’s trying to hide it with tariffs. It won’t matter, unless he raises some revenue with taxes he will not lower the deficit.

 

[KeepingItReal]

Annual budget is 7T can you show me where its wasted? Before you run your mouth an make shit up. The defense budget almost 820B there are some areas you could cut, for sure to help but right now your spewing nonsense. I'm all for spending cuts and saving, but so far you're smelling your own farts much like most trump fuckers do.



What do yo mean, why? I'm sure musk and other billionaires do so much to help you out. Why do big companies need trillions of dollars?? How does that help our country out, because it doesn't. Pay your part like the rest of the common American people. Just because You're a billionaire doesn't mean you shouldn't pay Taxes. Are people this stupid? I'll never understand idiots like yourself are so gung-ho to save billionaires who would never do the same for you. EVER.

The facts are against you brother, billionaires pay more taxes than anyone. The Tax Foundation covered this and it got the data from a Treasury study.

https://taxfoundation.org/blog/super-rich-pay-effective-tax-rates/

To quote the article
"All told, we can see that when foreign taxes are added to their US tax burden, the effective tax rates for the wealthiest Americans rise to nearly 60 percent. Thus, focusing on the US tax burden does not tell the whole story of the taxes the super-wealthy pay in total."

That's right, most billionaires tax burdens are not only U.S. taxes as their businesses are usually multinational conglomerates and their income is from all round the world.

 

[jk7707]

The facts are against you brother, billionaires pay more taxes than anyone. The Tax Foundation covered this and it got the data from a Treasury study.

https://taxfoundation.org/blog/super-rich-pay-effective-tax-rates/

To quote the article
"All told, we can see that when foreign taxes are added to their US tax burden, the effective tax rates for the wealthiest Americans rise to nearly 60 percent. Thus, focusing on the US tax burden does not tell the whole story of the taxes the super-wealthy pay in total."

That's right, most billionaires tax burdens are not only U.S. taxes as their businesses are usually multinational conglomerates and their income is from all round the world.

So how do you explain this shit?

Elon Musk’s company avoided almost all federal income tax on nearly $11 billion of U.S. income over three years

 

[avenue94]

The facts are against you brother, billionaires pay more taxes than anyone. The Tax Foundation covered this and it got the data from a Treasury study.

https://taxfoundation.org/blog/super-rich-pay-effective-tax-rates/

To quote the article
"All told, we can see that when foreign taxes are added to their US tax burden, the effective tax rates for the wealthiest Americans rise to nearly 60 percent. Thus, focusing on the US tax burden does not tell the whole story of the taxes the super-wealthy pay in total."

That's right, most billionaires tax burdens are not only U.S. taxes as their businesses are usually multinational conglomerates and their income is from all round the world.

And yet they have lower tax burdens frequently. Also not sure why you'd include foreign tax rates. Bottom line, US government takes in less tax revenue than normal developed countries. Not to say there aren't tradeoffs to increasing tax revenue but there is a lot of room to increase it.

 

[KeepingItReal]

And yet they have lower tax burdens frequently. Also not sure why you'd include foreign tax rates. Bottom line, US government takes in less tax revenue than normal developed countries. Not to say there aren't tradeoffs to increasing tax revenue but there is a lot of room to increase it.

Woah brother, I don't know what authority you think I have but its not the authority that the US Treasury holds. I didn't include shit, as I previously stated the US Treasury did a study and the Tax Foundation reported the findings of that study. If they didn't think that tax burden was pertinent, they wouldn't have included it.

Secondly, who the hell is deciding what is a normal developed country? Average can be decided by numbers but what is normal is just one mans stupid opinion.

 

[KeepingItReal]

So how do you explain this shit?

Elon Musk’s company avoided almost all federal income tax on nearly $11 billion of U.S. income over three years

Elon musk is not the company Tesla and the US Treasury report is on what tax billionaires pay, not what the companies they have holdings in pay.

 

[jk7707]

Elon musk is not the company Tesla and the US Treasury report is on what tax billionaires pay, not what the companies they have holdings in pay.

Lol, what a garbage excuse. Fuck off.

 

[KeepingItReal]

Lol, what a garbage excuse. Fuck off.

Brother, I'm sure you understand the basic concept of income you earn and holdings of stocks you have.

 

[jk7707]

Brother, I'm sure you understand the basic concept of income you earn and holdings of stocks you have.

Brother, I'm sure you understand how idiotic your stance on this issue is, but here you are defending billionaires paying less taxes than regular people.

 

[KeepingItReal]

Brother, I'm sure you understand how idiotic your stance on this issue is, but here you are defending billionaires paying less taxes than regular people.

Brother, this is number one bullshit from you, ignoring the facts. The report was made by the US Treasury, and the findings are clear, billionaires have a pretty high tax burden. The Tax Foundation had another report showing percentage of income taxes paid by people in different earning categories. The share of total income taxes paid by the Top 1% of income earners is 40.4%, by top 5% its 61%, by top 10%, its 72%. People who earn about 100k or more pay the majority of income taxes. The Data is from Tax Year 2022. Please don't let yourself be swayed by data though.

Income tax data

 

[curryjunkie]

Says the guy that grew up so rich that " we had so much money that we couldn't close the door of the safe" and who works for a guy who inherited millions from his dad, yet both of whom continue to grift , grab , and hold out their hands...

 

[GhostZ06]

And yet they have lower tax burdens frequently. Also not sure why you'd include foreign tax rates. Bottom line, US government takes in less tax revenue than normal developed countries. Not to say there aren't tradeoffs to increasing tax revenue but there is a lot of room to increase it.

i some how doubt that

 

[avenue94]

i some how doubt that

Tax loopholes, non-w2 income, and regressive taxes are an ugly or amazing combo, depending on how you look at it. Tax burden also includes sin taxes, fee, tolls, consumption, etc. Not sure if you're factoring that in.

 

[DEVILsSON]

So while DOGE finds a few million here and there of what they claim is wasteful spending... Trump's Superbowl attendance wasted 10-20 million of our taxes ...so much for fiscal responsibility....all for a photo op...

People Outraged By How Much Trump’s Super Bowl Appearance Potentially Cost Taxpayers — ‘Where’s DOGE Now?’ – The Tennessee Tribune

tntribune.com

Who Paid for Trump to Go to the Super Bowl? Unpacking the Financial Details

Who paid for Trump to go to the Super Bowl? The expenses involves security and travel. Here’s what we know about the financial details.

www.distractify.com