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101Speedster

Champion Author
Ventura

Posts:31,572
Points:2,841,855
Joined:May 2005
Message Posted: Apr 20, 2011 1:04:09 PM

How high will we and our politicians let our national debt go?

U. S. National Debt Clock

It's currently $14,311,240,500,000 and climbing.
REPLIES (newest first) Post a Reply
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Jul 16, 2014 7:09:21 PM

"Spending bills start in the Congress.
The party of no has been stuck in low/no gear for the last five years."





Let alone the encouraging the flood gates with his administrations actions, or lack there of...






[Edited by: reb4 at 7/16/2014 7:09:40 PM EST]
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Shockjock1961
Champion Author Illinois

Posts:23,122
Points:2,634,215
Joined:Apr 2006
Message Posted: Jul 16, 2014 2:51:25 PM

"Nothing like an administration that knows how to spend more than we have..."

That's been the case for a hundred years or more. Mega deficits have been prominent since 1980, so I'm unsure why that issue is any more of a problem then it has been in the past...
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Cliffisher
Champion Author Wisconsin

Posts:29,563
Points:3,581,570
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Message Posted: Jul 16, 2014 1:42:57 PM

"Nothing like an administration that knows how to spend more than we have..."

Spending bills start in the Congress.
The party of no has been stuck in low/no gear for the last five years.

Maybe we need another GOP unfunded war to perk them up?
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I75at7AM
Champion Author Dayton

Posts:72,624
Points:2,886,295
Joined:Feb 2006
Message Posted: Jul 15, 2014 1:18:42 PM

News:
Federal Tax Revenues Set Record Through June; Feds Still Running $385.8B Deficit

"CNSNews.com) - Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed June at an unprecedented $2,258,565,000,000 according to the Monthly Treasury Statement."

So far so good, right? (some people believe that the federal government SHOULD tax huge amounts of cash out of the economy)

"...the government has still run a cumulative deficit of $385.855 billion in the first nine months of fiscal 2014."

"...it ended fiscal 2013 with a full-year deficit of $680.221 billion."

"...the federal government will collect $3.001721 trillion in taxes and spend $3.650526 trillion, while running a deficit of $648.805 billion." (in 2014)

Wow, a deficit reduction of 22 Billion over a year. It would take only 29.4 years to get that deficit down to zero, i.e. a balanced budget. Paul Ryan's budget plan offered to do it in ten. Connie Mack's Penny Plan does it in six.

I'll take Penny for Six, Alex.

[Edited by: I75at7AM at 7/15/2014 1:19:50 PM EST]
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Jul 3, 2014 2:00:13 PM

WOW, you are right citizen1.... it did go down between 1929 to 1930...

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citizen1
Champion Author Connecticut

Posts:1,742
Points:842,970
Joined:Apr 2004
Message Posted: Jul 2, 2014 10:56:40 AM

There hasn't been a president in my lifetime that did a good job with the debt although some were worse than others. Clinton claimed a balanced budget but the debt rose each year so that was just a gimmick that Newt was all to willing to play along with.
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SE3.5
Champion Author Indianapolis

Posts:22,113
Points:3,618,615
Joined:May 2004
Message Posted: Jul 2, 2014 9:43:41 AM

tick tock tick tock
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Jul 2, 2014 9:12:58 AM

It's currently $17,557,923,900,000 and climbing!



Nothing like an administration that knows how to spend more than we have...



[Edited by: reb4 at 7/2/2014 9:13:11 AM EST]
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Shockjock1961
Champion Author Illinois

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Points:2,634,215
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Message Posted: Jun 5, 2014 8:57:04 AM

"Obama is doing a great job with our spending and debt, isn't he?"

You seem to love the handouts Obama provides speedy...

Why are you complaining about it now?
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101Speedster
Champion Author Ventura

Posts:31,572
Points:2,841,855
Joined:May 2005
Message Posted: Jun 4, 2014 11:37:19 PM

Obama is under investigation for so many things that it actually is helping him. Democrats just ignore them all and call them "politics" started by the Republicans.
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MahopacJack
Champion Author New York

Posts:9,304
Points:1,799,320
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Message Posted: Jun 3, 2014 5:50:01 PM

101Speedster, >>Obama is doing a great job with our spending and debt, isn't he?<<
~
Isn't this one of the many things he has "under investigation" or am I mistaken?
~
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101Speedster
Champion Author Ventura

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Message Posted: Jun 3, 2014 4:18:48 PM

btc1: "Remember who's guys got us here. Know who it takes to get us out of debt. Democrats, always."

Obama is doing a great job with our spending and debt, isn't he?
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reb4
Champion Author Chicago

Posts:23,175
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Message Posted: Jun 3, 2014 2:07:35 PM

Just saw this link.... Numbers are off, but soooooo appropriate...
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: May 29, 2014 9:30:12 AM

Lack of responsibility to spend what we have has been a trend... for a very long time.. and the consequences will show.
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ldheinz
Champion Author Chicago

Posts:22,631
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Message Posted: May 18, 2014 5:44:51 PM

There's plenty of blame to go around. No one person or party is solely to blame for this mess.
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MahopacJack
Champion Author New York

Posts:9,304
Points:1,799,320
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Message Posted: May 18, 2014 12:54:25 PM

btc1, >>Know who it takes to get us out of debt. Democrats, always. Conservative Presidents are always the big spenders without paying for it.<<
~
BS.

Granted alleged conservatives have shared in bringing financial havoc on our country, it was brought about and continues to be brought about by Progressive ideology. Placing blame solely on any one party is simply a falsehood.

As far as Democrats getting us out of the last financial fiasco, you must have forgotten that it is the Congress that controls the purse strings of this nation. At the time of our last 'balanced budget', Republicans were the majority and Clinton had suffered major setbacks in both Houses in 1994. This lasted until 2006.

You also seem to forget there were two wars fought which had bipartisan support. They were the result of 9/11 which may have been averted had Clinton given the go ahead to send a cruise missel into Afghanistan in the late 1990's. (See Col. Robert Paterson's book, 'Dereliction of Duty'.

Again, as a result of the Republican Party acting 'progressively', the financial status of our country has been seriously damaged and history shows the blame does rest entirely on their shoulders.
~



[Edited by: MahopacJack at 5/18/2014 12:57:57 PM EST]
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btc1
Champion Author Lexington

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Message Posted: May 18, 2014 9:22:04 AM

Thanks to the one who took us out of bounds.

If this guy had not tripled the national debt and the Republican Presidents who followed him, Obama would not be in the position he is in having to spend more money to straighten out their mess.

Remember who's guys got us here. Know who it takes to get us out of debt. Democrats, always. Conservative Presidents are always the big spenders without paying for it.

You are right, therder. We are just now beginning to understand how Reagan cost us.

[Edited by: btc1 at 5/18/2014 9:25:22 AM EST]
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101Speedster
Champion Author Ventura

Posts:31,572
Points:2,841,855
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Message Posted: May 17, 2014 11:22:14 AM

It's currently $17,522,300,400,000 and climbing.

[Edited by: 101Speedster at 5/17/2014 11:22:54 AM EST]
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101Speedster
Champion Author Ventura

Posts:31,572
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Message Posted: Apr 22, 2014 10:56:23 AM

Obama also said it was irresponsible. Thanks for the link, reb4.

Debt per citizen is now up to $55,186. It's almost three times higher if you use taxpayers.

[Edited by: 101Speedster at 4/22/2014 10:58:10 AM EST]
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TuNnL
Champion Author Honolulu

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Message Posted: Apr 5, 2014 6:54:39 PM

On Apr 1, 2014 at 3:51 AM, reb4 wrote:

>>> If 4 trillion run up by 43 president was un patriotic, what is 8 trillion by 44th president... <<<

You call it part of Barack Obama's continuing hypocrisy and an urgent need for Ron Paul Republicans to join with the Tea Party, Libertarians and Occupy Wall Street in taking this country back!
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therder
Champion Author Lexington

Posts:2,979
Points:2,047,520
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Message Posted: Apr 5, 2014 3:56:42 PM

The debt is going higher and higher. The money printing is going higher and higher. You've got to pay the price someday whether you like it or not. The longer you delay the day of reckoning, the worse the day of reckoning is going to be.
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reb4
Champion Author Chicago

Posts:23,175
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Joined:Sep 2004
Message Posted: Apr 1, 2014 9:51:38 AM

The National Debt is now up to 17,551,097,000,000

If 4 trillion run up by 43 president was un patriotic, what is 8 trillion by 44th president...
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
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Message Posted: Mar 6, 2014 8:25:59 AM

101Speedster, please back up your claims....

PS, current national debt is 17 trillion dollars

SMH
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101Speedster
Champion Author Ventura

Posts:31,572
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Message Posted: Mar 5, 2014 11:07:38 AM

Who was it, before elected, that said that excessive debt was unpatriotic? Oh, it was Obama.
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I75at7AM
Champion Author Dayton

Posts:72,624
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Message Posted: Mar 5, 2014 7:52:20 AM

Yes, therder, that's a whale of a debt that we are trucking down the road.......
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therder
Champion Author Lexington

Posts:2,979
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Message Posted: Mar 5, 2014 12:02:40 AM

Well the latest budget proposal has been released by the Obama administration. A lot of bragging about how it has "stabilized the debt to GDP ratio". That sounds good but the interest on the debt alone will soon be more than defense spending. Our road to ruin continues...
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101Speedster
Champion Author Ventura

Posts:31,572
Points:2,841,855
Joined:May 2005
Message Posted: Feb 19, 2014 11:32:43 AM

It's currently $17,297,678,700,000 and climbing.
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Feb 5, 2014 9:52:06 AM

Debt Up $6.666 Trillion Under Obama

I guess this administration believes in pedal to the medal... on spending...

Oh Jobs, ??? nahhhh...

disregard the 666 number....

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jeskibuff
Champion Author Tampa

Posts:10,177
Points:1,891,860
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Message Posted: Dec 14, 2013 10:16:11 AM

karl13 said: "As high as necessary to keep the economy moving forward."

Pedal to the metal, eh?

About as responsible as a drunken teen behind the wheel of daddy's Ferrari, these Democrats are!
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Shockjock1961
Champion Author Illinois

Posts:23,122
Points:2,634,215
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Message Posted: Dec 14, 2013 9:44:34 AM

"Reb, you should know by now, new revenue = new spending. Every time"

Illinois is the perfect example of that. They increased the tax rate 66% with the "intent" of balancing the budget. Three years later the state is even further in debt then it was before the tax increase...
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I75at7AM
Champion Author Dayton

Posts:72,624
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Message Posted: Dec 14, 2013 8:49:07 AM

Reb, you should know by now, new revenue = new spending. Every time.

The last chance for anything approaching a sane, responsible budget (that might someday reduce the debt) went away this week by a vote of 332-94. Congress voting for more spending now on a thin promise of future fiscal responsibility has been shown to be a strategy that both works and doesn't work. It works for the reps voting for it, and it doesn't work for the nation's financial health.
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therder
Champion Author Lexington

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Message Posted: Dec 14, 2013 6:05:24 AM

While we in the United States continue to let our deficit explode China is negotiating currency swap agreements with Europe, S. America, and the Middle East oil producers, and freezing out the dollar as the global reserve currency. China is also the world's largest buyer of physical gold, and has invested in every major gold producing company. The intent is obvious. China intends, at some point, to couple their currency to gold, silver, rare earth minerals, etc., and replace the dollar which is based on nothing except it's "reserve currency" status and ties to oil....the petro dollar. The petro-dollar is going to ultimately fail. The Chinese currency will ultimately come to dominate world trade. Once the dollar is no longer the defacto "reserve currency" we will be like Greece.
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reb4
Champion Author Chicago

Posts:23,175
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Message Posted: Dec 3, 2013 8:55:39 AM

this is still growing by leaps and bounds... the new taxes going into effect next year should help, if they would use the collected revenue to pay down the national debt....

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MahopacJack
Champion Author New York

Posts:9,304
Points:1,799,320
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Message Posted: Nov 13, 2013 7:45:37 PM

~
Fed Official Appologizes for Quantitative Easying!

From the link, "I can only say: I'm sorry, America," he wrote. "The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time."

Huszar told "Fast Money" that the bond-buying program, which was supposed to increase credit availability to consumers and businesses, didn't do so.

"There was actually a net decrease in mortgage lending," he said. "In fact, until 2012 mortgage lending was at a 15-year low."

QE's de facto support of the stock market left out a sizable portion of the people it was supposed to help, Huszar added. "
~
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101Speedster
Champion Author Ventura

Posts:31,572
Points:2,841,855
Joined:May 2005
Message Posted: Nov 13, 2013 1:06:31 PM

It's currently $17,141,247,000,000 and climbing.

How's that HOPE and CHANGE working for you?
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karl13
All-Star Author Miami

Posts:509
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Joined:Jan 2013
Message Posted: Nov 13, 2013 10:28:33 AM

As high as necessary to keep the economy moving forward.
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Nov 13, 2013 9:51:32 AM

Current Debt - as of 11/8/2013:
Current

Debt Held by the Public - $12,206,181,243,592.72

Intragovernmental Holdings - $4,945,446,224,366.78

Total Public Debt Outstanding - $17,151,627,467,959.50“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘trillion’ with a ‘T.’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers.”.

That is a quote from Senator Obama... 2007
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PopcornPirate
Champion Author New Jersey

Posts:5,193
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Message Posted: Oct 25, 2013 10:05:06 AM

There is no incentive for those on welfare to work or be productive. Why should they. Someone else is taking care of them.
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I75at7AM
Champion Author Dayton

Posts:72,624
Points:2,886,295
Joined:Feb 2006
Message Posted: Oct 23, 2013 2:53:30 PM

News Nugget:

Report: U.S. Spent $3.7 Trillion on Welfare Over Last 5 Years

Read carefully, that this figure does not include Social Security and Medicare, programs which the recipients paid into over the years. The programs included in this $3.7 TRILLION are true welfare programs.
"The common feature of means-tested assistance programs is that they are graduated based on a person’s income and, in contrast to programs like Social Security or Medicare, they are a free benefit and not paid into by the recipient," says the minority side of the Senate Budget Committee."

You can divide the $3.7 Trillion by five, and get $740 Billion per year.
This is a substantial chuck of the Federal Budget. Over the years it really adds up.

Remember that each $ One Billion that the federal government spends is equal to about $3 per man, woman, and child in the country. So the spending of $740 Billion per years is about $2,220 spent per man, woman, and child in the country. That means that for my family of four, the government spent, in our name, $8,880 just on welfare, per year. We know that many families are net recipients and not paying much into the system through taxes.

Can we really afford to spend money like this?
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greentre
Champion Author Pensacola

Posts:1,281
Points:397,305
Joined:Oct 2011
Message Posted: Oct 19, 2013 10:06:55 PM

Oh, and here is the DAILY TREASURY STATEMENT so that some doubting Thomases can read the numbers from the government for themselves.

The numbers are on page 2, TABLE III-C - Debt Subject to Limit.

Closing Balance - Today $ 17,027,544
Opening Balance - Today - $ 16,699,396
= $ 328,148 Debt INCREASE

Btw, these numbers are in MILLIONS.
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greentre
Champion Author Pensacola

Posts:1,281
Points:397,305
Joined:Oct 2011
Message Posted: Oct 19, 2013 9:48:46 PM

Hey Reb4,

You should have posted this chart, not that they would understand anyways.

Overnight National Debt Increase

Oh wait, that's right, it's the Cons fault anyways, or was it Bush or Aliens or....
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101Speedster
Champion Author Ventura

Posts:31,572
Points:2,841,855
Joined:May 2005
Message Posted: Oct 19, 2013 6:55:59 PM

Are all of you democrats celebrating that another pork bill has been passed, our debt is higher than ever, and the U. S. is one step closer to going over the fiscal cliff?
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Oct 19, 2013 2:42:20 PM

10/17/2013 - Total debt 17,075,590,107,963.57



Failure of Leadership...





Let's see how your fearless leader resolves this.. I previously stated Billion, so, sorry, not used to big #'s like that .. its over 17 Trillion..





That's Trillion, with a "T" Mr. President...

The above link is the full text of the speech... then Senator Obama made...
Now he says we shouldnt have a balanced budget just for the sake of having a balanced budget...

That my friends is true leadership...


[Edited by: reb4 at 10/19/2013 2:47:07 PM EST]
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SE3.5
Champion Author Indianapolis

Posts:22,113
Points:3,618,615
Joined:May 2004
Message Posted: Oct 18, 2013 5:04:34 PM

There is NEVER enough money for the government!

Tax his land,
Tax his bed,
Tax the table,
At which he's fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his work,
Tax his pay,
He works for
peanuts anyway!

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries
Tax his tears.

Tax his car,
Tax his gas,
Find other ways
To tax his ass.

Tax all he has
Then let him know
That you won't be done
Till he has no dough.

When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid...

Put these words
Upon his tomb,
'Taxes drove me
to my doom...'

When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax

Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world. What happened?
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ldheinz
Champion Author Chicago

Posts:22,631
Points:2,806,170
Joined:May 2006
Message Posted: Oct 17, 2013 10:42:27 AM

The US credit rating SHOULD be downgraded. We still have no concept of fiscal responsibility.
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I75at7AM
Champion Author Dayton

Posts:72,624
Points:2,886,295
Joined:Feb 2006
Message Posted: Oct 17, 2013 9:56:16 AM

Shock headline:
Chinese agency downgrades US credit rating

"A Chinese ratings agency downgraded its US sovereign credit rating Thursday despite Washington's resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained "unchanged"."

""The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged," Dagong said in the statement, adding Washington's solvency was vulnerable as old debts were still repaid through raising new debts.

"Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future," it said."

It seems that the Chinese know us better than we know ourselves. And despite being Communists, they know capital markets better than we do too.

Another shock headline: (Infowars always uses "shock" headlines...)

Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers
"What this constitutes is a war on cash and a war on small business and individuals."
"This is where the mega banks have wanted to take us all along – a total cashless society that destroys all privacy and allows them to fine and fee the general population into serfdom."

[Edited by: I75at7AM at 10/17/2013 10:04:09 AM EST]
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Oct 17, 2013 9:35:10 AM

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘trillion’ with a ‘T.’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers.”.

That is a quote from Senator Obama... 2007

now our debt is close to 17 Billion...

This is a sign of Leadership Failure...

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karl13
All-Star Author Miami

Posts:509
Points:326,745
Joined:Jan 2013
Message Posted: Oct 3, 2013 8:58:47 AM

Debt is the American way. You are not doing your part unless you spend more than you make.
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reb4
Champion Author Chicago

Posts:23,175
Points:2,274,025
Joined:Sep 2004
Message Posted: Oct 3, 2013 8:45:49 AM

SE 3.5, sad commentary on how perspectives changes, in just 7 short years... Wonder if anyone asked him about that comment in the meeting yesterday afternoon...

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SE3.5
Champion Author Indianapolis

Posts:22,113
Points:3,618,615
Joined:May 2004
Message Posted: Sep 20, 2013 3:45:23 PM

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. America has a debt problem and a failure of leadership. Americans deserve better. I, therefore, intend to oppose the effort to increase America's debt."

--Barack Obama, 2006
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