Some History, in the past 50 years Democratic Presidents the Deficits goes DOWN. Republicans Presidents the Deficits GOES UP. After all simple Math is so hard for the Average republican. If I am wrong in the Numbers I would love to be proved wrong, but Republicans CAN’T do it since they can change History. You can’t really go past 1968 since Dick did his MAJOR realignments of the Parties. When the economy is Tanking you pay off the Debt and when the Economy is Booming you pay off the Debt, and NOT give the extra money to the Rich to put it in overseas bank accounts.
This is BS. Insecure tax structures are destroying the pension system, not Democrats.
States like TN and NH, that rely on sales tax to fund their states. That is simply stupid. There is no stability. And costs only ever go up, which means you have to increase the tax.
We need to restructure our tax systems, to make them more stable, so that when we have a crisis we have options.
That is exactly what Republicans are doing to the Post Office.
Where will the Republicans be without their voter suppression?
Trump and Republicans don’t want mail-in voting this November because it blows up a couple of their most effective voter suppression schemes.
In presidential elections dating back to 2000, there’s been noticeable media coverage of long lines in majority-black precincts; commentators sometimes wonder out loud why people would have to wait in line 8 hours to vote in, for example, inner city Ohio in 2004 or Milwaukee in the 2020 primaries.
I left San Jose on January 1st 1975 because it was no longer the peaceful city/county/valley that my parents moved to in 1956. I moved to just outside of Salem, OR. At the time the wave of liberal Californians were moving to Oregon. Conservative Oregonians were very upset about the Californication that was coming to Oregon. Even the Oregon Governor was very vocal about not wanting to change Oregon into another LA/SF/SJ. I took the opportunity for a promotion to move to North Carolina in 1985 and watched from afar as Oregon became the cesspool it is now with progressives (?), homeless and Hispanics. Downtown Salem has many empty stores, most of the major ones. Over half the billboards you see as you drive through Salem are in Spanish. Homeless reside, crap, and pee outside my brotherinlaw’s downtown store in downtown Salem.Yes, this is a very excellent example of what Californication can do to what was once a beautiful, serene, non-violent state.Californication is now eroding Nevada, Arizona, and Texas. Colorado is now fully Californicated.Unfortunately Californication will never stop. It is like a plague on the country.
State governments need to do better to manage their budgets. Whether it’s Democratic policies that spend more than their tax revenue or it’s Republican policies that intentionally cut tax revenue with the intent of cutting public programs and privatize those programs. Kansas is an example of bankrupting a state in order to give tax cuts at the expense of education, infrastructure, and emergency services.
In the event any reader would care to discuss the taxation question rather than rant on, may I urge them to consider what Malcolm Forbes suggested when he made a run at the presidency all those years ago?
A 10% FLAT Income Tax
No deductions for ANYthing . . .
Add up every dollar you made during the year – move the decimal point one digit to the left – that’s your tax. If you made $50,000 last year – your tax would be $5k. If you made $1,000,000 last year, your tax would be $100,000.
No Exceptions
The U.S. currently has seven federal income tax brackets, with rates of 10%, 12%, 22%, 24%, 32%, 35% and 37% – with enough exceptions to steam a cruise ship through. Many taxpayers choose/have to hire a tax advisor to complete their taxes.
No Exceptions
There would be no income short-fall for the government . . .
I heard Ted Cruz had also made a run at this some years ago – which is why few have heard about it. I guess people are wary of any politician talking about tax changes. You know, ’cause when you get a raise in pay that puts you in a higher tax bracket and you wind up making less than before your raise. Or maybe because it was Ted Cruz.
If only it were so simple. The core of the problem is the continued use of defined benefit plans.
Back in the 70’s and 80’s it became clear that defined benefit plans were going to be in trouble. Between inflation, people living longer and market fluctuations the required contributions were skyrocketing. Pension plans were no longer a viable employment retention tool. This was true for private and public sector pension plans.
The private sector switched. The public sector did not. Mostly because of union contracts and pressure combined with the ability of state governments to either jack up contributions with tax money, or far worse, defer the required contributions. Private sector employers cannot legally defer pension contributions. Government can do so with a simple majority vote.
What followed was an annual charade in the State Legislatures all over the nation. With a heavy heart and the best intentions the lawmakers made only partial contributions. Each year the actuaries would inform them of the required amount to support those future obligation and each year the lawmakers would balk. There was always some other priority and those obligations were decades away. A future budget would make up the difference.
Today we have some States in a huge bind. Tens of Billions, for some Hundreds of Billions in future pension liabilities they will never be able to meet. In most cases the unions have refused to give up a single penny of future benefits, even though it is clear that if they don’t take a haircut now the result will be decapitation later. Another alternative is to severely raise state taxes. Which has its own set of problems.
It should be noted that this problem is universal. Party control is not a major factor. The reality is that only 2 states are at 100% or better funding. Fiscal irresponsibility is a POLITICAL problem shared by both parties. To the tune of nearly $6 TRILLION.
Who remembers when Trump promised to eliminate the ENTIRE National Debt? Instead deficits have been exploding and this will be the worst annual deficit in American history.
superposition almost 4 years ago
Not a real solution … just more blaming.
https://www.insidernj.com/press-release/republican-budget-senators-governors-budget-solution-due-may-22-must-include-restraint-budget-excesses-creative-solutions-will-dismissed/
RAGs almost 4 years ago
For many years, republicans have been claiming the Democrats “Tax and Spend”; republicans prefer “Cut taxes and spend”.
Zykoic almost 4 years ago
Ending an unsupportable economic cycle. Feel so sorry for the youngsters who will transition to adults in the next ten years.
artmer almost 4 years ago
Since reagan you’ve been cutting taxes to starve the beast. This is what you get.
Quantum Leaper almost 4 years ago
Some History, in the past 50 years Democratic Presidents the Deficits goes DOWN. Republicans Presidents the Deficits GOES UP. After all simple Math is so hard for the Average republican. If I am wrong in the Numbers I would love to be proved wrong, but Republicans CAN’T do it since they can change History. You can’t really go past 1968 since Dick did his MAJOR realignments of the Parties. When the economy is Tanking you pay off the Debt and when the Economy is Booming you pay off the Debt, and NOT give the extra money to the Rich to put it in overseas bank accounts.
Durak Premium Member almost 4 years ago
This is BS. Insecure tax structures are destroying the pension system, not Democrats.
States like TN and NH, that rely on sales tax to fund their states. That is simply stupid. There is no stability. And costs only ever go up, which means you have to increase the tax.
We need to restructure our tax systems, to make them more stable, so that when we have a crisis we have options.
Radish the wordsmith almost 4 years ago
That is exactly what Republicans are doing to the Post Office.
Where will the Republicans be without their voter suppression?
Trump and Republicans don’t want mail-in voting this November because it blows up a couple of their most effective voter suppression schemes.
In presidential elections dating back to 2000, there’s been noticeable media coverage of long lines in majority-black precincts; commentators sometimes wonder out loud why people would have to wait in line 8 hours to vote in, for example, inner city Ohio in 2004 or Milwaukee in the 2020 primaries.
https://www.rawstory.com/2020/05/heres-the-real-reason-trump-and-the-gop-dont-want-mail-in-voting/
All-GOP Texas Supreme Court — voting from home — rules fear of coronavirus no excuse to vote by mail
https://www.rawstory.com/2020/05/all-gop-texas-supreme-court-voting-from-home-rules-fear-of-coronavirus-no-excuse-to-vote-by-mail/
Texas Supreme Court triggers outrage by denying mail-in ballots to at-risk voters: ‘Brazen and corrupt’
https://www.rawstory.com/2020/05/texas-supreme-court-triggers-outrage-by-denying-mail-in-ballots-to-at-risk-voters-brazen-and-corrupt/
DatsunMan almost 4 years ago
I left San Jose on January 1st 1975 because it was no longer the peaceful city/county/valley that my parents moved to in 1956. I moved to just outside of Salem, OR. At the time the wave of liberal Californians were moving to Oregon. Conservative Oregonians were very upset about the Californication that was coming to Oregon. Even the Oregon Governor was very vocal about not wanting to change Oregon into another LA/SF/SJ. I took the opportunity for a promotion to move to North Carolina in 1985 and watched from afar as Oregon became the cesspool it is now with progressives (?), homeless and Hispanics. Downtown Salem has many empty stores, most of the major ones. Over half the billboards you see as you drive through Salem are in Spanish. Homeless reside, crap, and pee outside my brotherinlaw’s downtown store in downtown Salem.Yes, this is a very excellent example of what Californication can do to what was once a beautiful, serene, non-violent state.Californication is now eroding Nevada, Arizona, and Texas. Colorado is now fully Californicated.Unfortunately Californication will never stop. It is like a plague on the country.
Zebrastripes almost 4 years ago
BOO HISS….couldn’t be farther than the truth…oh wait…Gop is allergic to truth..
ideations almost 4 years ago
And the Republican leader fights the scientific truth of the pandemic. Are we “great” yet?
ferddo almost 4 years ago
Forecasting Trump’s excuse for shooting people on 5th Avenue?
ndblackirish97 almost 4 years ago
State governments need to do better to manage their budgets. Whether it’s Democratic policies that spend more than their tax revenue or it’s Republican policies that intentionally cut tax revenue with the intent of cutting public programs and privatize those programs. Kansas is an example of bankrupting a state in order to give tax cuts at the expense of education, infrastructure, and emergency services.
Walter Kocker Premium Member almost 4 years ago
In the event any reader would care to discuss the taxation question rather than rant on, may I urge them to consider what Malcolm Forbes suggested when he made a run at the presidency all those years ago?
A 10% FLAT Income Tax
No deductions for ANYthing . . .
Add up every dollar you made during the year – move the decimal point one digit to the left – that’s your tax. If you made $50,000 last year – your tax would be $5k. If you made $1,000,000 last year, your tax would be $100,000.
No Exceptions
The U.S. currently has seven federal income tax brackets, with rates of 10%, 12%, 22%, 24%, 32%, 35% and 37% – with enough exceptions to steam a cruise ship through. Many taxpayers choose/have to hire a tax advisor to complete their taxes.
No Exceptions
There would be no income short-fall for the government . . .
I heard Ted Cruz had also made a run at this some years ago – which is why few have heard about it. I guess people are wary of any politician talking about tax changes. You know, ’cause when you get a raise in pay that puts you in a higher tax bracket and you wind up making less than before your raise. Or maybe because it was Ted Cruz.
Discuss.
Andylit Premium Member almost 4 years ago
If only it were so simple. The core of the problem is the continued use of defined benefit plans.
Back in the 70’s and 80’s it became clear that defined benefit plans were going to be in trouble. Between inflation, people living longer and market fluctuations the required contributions were skyrocketing. Pension plans were no longer a viable employment retention tool. This was true for private and public sector pension plans.
The private sector switched. The public sector did not. Mostly because of union contracts and pressure combined with the ability of state governments to either jack up contributions with tax money, or far worse, defer the required contributions. Private sector employers cannot legally defer pension contributions. Government can do so with a simple majority vote.
What followed was an annual charade in the State Legislatures all over the nation. With a heavy heart and the best intentions the lawmakers made only partial contributions. Each year the actuaries would inform them of the required amount to support those future obligation and each year the lawmakers would balk. There was always some other priority and those obligations were decades away. A future budget would make up the difference.
Today we have some States in a huge bind. Tens of Billions, for some Hundreds of Billions in future pension liabilities they will never be able to meet. In most cases the unions have refused to give up a single penny of future benefits, even though it is clear that if they don’t take a haircut now the result will be decapitation later. Another alternative is to severely raise state taxes. Which has its own set of problems.
https://taxfoundation.org/state-pension-plan-funding-2019/
It should be noted that this problem is universal. Party control is not a major factor. The reality is that only 2 states are at 100% or better funding. Fiscal irresponsibility is a POLITICAL problem shared by both parties. To the tune of nearly $6 TRILLION.
DonnyTwoScoops almost 4 years ago
Who remembers when Trump promised to eliminate the ENTIRE National Debt? Instead deficits have been exploding and this will be the worst annual deficit in American history.