April 17, 201214 yr So is a "class war" restricted to economic classes? Or any class (e.g. women)? Most of the time, I think people are referencing economic classes, but I'm sure the one you mentioned can certainly apply.
April 17, 201214 yr You sure about that... 2011 ($ are in billions) Receipts - $2,303B Individual - $1,092 - 47% SS / SS Insurance - $819 - 36% Corp - $181 - 8% Other - $139 - 6% Excise - $72 - 3% Spending - $3,598B Medicare / Medicaid - $835 - 23% SS - $725 - 20% Defense - $700 - 19% Discretionary - $646 - 13% Other -$465 - 13% Interest - $227 - 6% United States federal budget - Wikipedia, the free encyclopedia So you say SS and Medicare add nothing to the debt but in 2011 the receipts for those only totaled $819B while the spending totaled $1,560B, almost double. I didn't mention Medicare once. Social Security has a trust fund that is solvent under current conditions until almost 2040 so that money that is going out does not come from the general fund. GF has actually borrowed money from the Social Security trust. Your own chart shows that SS brought in 94 billion more than it spent. How is it adding to the deficit?
April 17, 201214 yr The Buffett rule if passed would only bring in 47 billion in ten years. Obamas budget would increase the debt by another 6.7 trillion over ten years.. Drastic cuts need to accompany any increases in taxes or it's just a political ploy that accomplishes nothing. My taxes will bring in less than $350,000 over the next 10 years. Requiring me to pay my taxes is just a political ploy that accomplishes nothing. Your logic, not mine.
April 17, 201214 yr My taxes will bring in less than $350,000 over the next 10 years. Requiring me to pay my taxes is just a political ploy that accomplishes nothing. Your logic, not mine. You apparently choose to ignore this part of his post: "Drastic cuts need to accompany any increases in taxes or it's just a political ploy that accomplishes nothing." He's right. It's a drop in the bucket compared to the total problem, yet it apparently is going to be a major theme of Obama's campaign.
April 17, 201214 yr Why do we think the middle class is going away? Here are a couple of thoughts: Highest percentage taxed part of the population (when one includes all taxes eg. FICA) Federal aid pretty much denied for tuition - FAFSA and many other need based scholarships. (I know people who gave up their careers prior to kids getting to college age because they would be better off with lower income and education subsidies than working and paying multiple tuitions. Manufacturing and technology shifts to low cost countries. With time I can come up with some more.
April 17, 201214 yr Historical view of rates here. From this article here. Thus, the projected 30% of GDP spending in the pipeline seems impossible to finance. While conceivably we could cut our spending, its likely this will only be cut when deficits are curtailed via an explicit or implicit default.
April 17, 201214 yr You sure about that... 2011 ($ are in billions) Receipts - $2,303B Individual - $1,092 - 47% SS / SS Insurance - $819 - 36% Corp - $181 - 8% Other - $139 - 6% Excise - $72 - 3% Spending - $3,598B Medicare / Medicaid - $835 - 23% SS - $725 - 20% Defense - $700 - 19% Discretionary - $646 - 13% Other -$465 - 13% Interest - $227 - 6% United States federal budget - Wikipedia, the free encyclopedia So you say SS and Medicare add nothing to the debt but in 2011 the receipts for those only totaled $819B while the spending totaled $1,560B, almost double. I didn't mention Medicare once. Social Security has a trust fund that is solvent under current conditions until almost 2040 so that money that is going out does not come from the general fund. GF has actually borrowed money from the Social Security trust. Your own chart shows that SS brought in 94 billion more than it spent. How is it adding to the deficit? You may want to read the data again.
April 17, 201214 yr What is a class war?When the math department gets fed up with those snotty kids over in the english department.
April 17, 201214 yr You may want to read the data again. What you put in red appears to me to be under receipts. So it would be 819 in receipt and 725 in spending.
April 17, 201214 yr What you put in red appears to me to be under receipts. So it would be 819 in receipt and 725 in spending.I was trying to point out that the $819B is the receipts for SS and Medicare/Medicaid. Which means the receipts for SS fall well short of the spending.
April 18, 201214 yr I was trying to point out that the $819B is the receipts for SS and Medicare/Medicaid. Which means the receipts for SS fall well short of the spending. Even if true, and I am not accepting the premise, but even if true there is currently a SS surplus (trust fund) and SS is solvent until at least 2037, so it is still not adding to the deficit.
April 18, 201214 yr Even if true, and I am not accepting the premise, but even if true there is currently a SS surplus (trust fund) and SS is solvent until at least 2037, so it is still not adding to the deficit. We have no idea how long SS will remain solvent. 2037 is one of 3 "best guesses" that the Trustees publish. It changes constantly. Even if true, and my guess is the date will continue to move up, I'm sure those people under 40 love to hear that it may remain solvent until right before they're set to receive benefits.
April 18, 201214 yr We have no idea how long SS will remain solvent. 2037 is one of 3 "best guesses" that the Trustees publish. It changes constantly. Even if true, and my guess is the date will continue to move up, I'm sure those people under 40 love to hear that it may remain solvent until right before they're set to receive benefits. I am not defending social security, I am saying IT IS NOT ADDING ANYTHING TO THE DEFICIT.
April 18, 201214 yr Even if true, and I am not accepting the premise, but even if true there is currently a SS surplus (trust fund) and SS is solvent until at least 2037, so it is still not adding to the deficit.What premise are you not accepting?
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