Here Are Bernie Sanders' Top 10 Wackiest Ideas
- Thread starter MTLynn
- Start date
The numbers being thrown out in this "article" about medicare are laughable and do not even have a reference for a source, probably because these are made up figures using “unfunded obligation through the infinite horizon" measurements and inflated measurements at that. When Republicans don't like a policy (Usually because the policy requires the wealthy to pay a bit more tax), they throw out ridiculous numbers that, honestly, make them look foolish. As far as breaking up the banks, Iceland did it and it worked pretty damn well. The sky will not fall if we break up the banks and nationalize them. There is more spin on the numbers for social security using the “unfunded obligation through the infinite horizon" method. The rest of the "article" is just rambling about things that aren't really notable.
BRF,
Based on current law and govt projections of revenues we have over $100 Trillion dollars of UNFUNDED liabilities. If you looked at our govt like you do personal finance or a business. Go to usdebtclock.org and look for yourself.
SSI is $15 T
Medicare is $27 T
So how much money do rich people have?
Tell me this information is wrong - more like prove to me its wrong.
Based on current law and govt projections of revenues we have over $100 Trillion dollars of UNFUNDED liabilities. If you looked at our govt like you do personal finance or a business. Go to usdebtclock.org and look for yourself.
SSI is $15 T
Medicare is $27 T
So how much money do rich people have?
Tell me this information is wrong - more like prove to me its wrong.
That is a bullshit number. Show me a link...Just one to a government site that proves this. You won't find one. The debt clock is not proof that we have $100 Trillion in unfunded liabilities. If you had bothered to read my post at all, you would have seen that the only way to come up with a number even close to that is to use the “unfunded obligation through the infinite horizon" method which is not accurate and makes assumptions. How much money do the wealthy have? They own 45% of the wealth in this country and pay about 47% of the taxes. Hmm...Seems like a fair deal; You own half of everything, you pay half of the taxes. After loopholes the effective rate on the top 1% is 22.8%. The Top .001% pay around a 17% rate. PLEASE spare me your bullshit theories about how they pay too much tax. THEY DO NOT. STOP CRYING ABOUT IT.
The reason we struggle to pay for these programs are because you knucklehead right wingers have been duped into thinking that the wealthy are over taxed and can't help more. It's BULL. Also, Social Security has been funded for decades and congress keeps raiding the piggy bank! Not to mention that after the first $150,000 in income, there is no SS tax! Tax people on their ENTIRE income and you won't have to worry about it!
As usual you didn't answer my question. The debt clock is based on the same budgeting principles that the CBO uses. This is our future. Its simple math. The US has to much, the world has too much debt and the debt has to be serviced. The existing programs don't work anymore the way they are designed. You could double the taxes on the rich for SSI and Medicare and it wouldn't change the trajectory of the problem.
You realize that if interest rates were not kept artificially low by the Fed, that just to service our current debt would be over 1 Trillion dollars a year....since we only take in about 3.5-4T how are you going to pay for it all - the Rich don't have enough money.
Seriously BRF, stop repeating the same ole lines you hear.
You realize that if interest rates were not kept artificially low by the Fed, that just to service our current debt would be over 1 Trillion dollars a year....since we only take in about 3.5-4T how are you going to pay for it all - the Rich don't have enough money.
Seriously BRF, stop repeating the same ole lines you hear.
Your numbers are bull. We do not have that level of unfunded liabilities. They are using a bullshit formula and don't even have a reference to their source. ZERO PROOF. I've shown you how low tax rates really are and they are easily looked up on a government website. You want to believe what you want to believe and facts won't get in your way. You have been sold a bag of goods and WANT to believe a bunch of crap. ZERO PROOF on that number...NONE.
Also, you are either misinformed or a blatant liar. If we DOUBLED the interest rate on the national debt, our interest payment would be around $400 billion. More LIES from Conservatives who have ZERO moral fiber...None because they lie about things like you just lied about on the national debt and interest payments.
Can you read?
I said if you doubled tax rates on the rich we wouldn't solve the problem. I said if rates were at normal averages the amount to service the debt would be a Trillion.
Why are you so hateful in your replies? There are no lies in my posts.
I feel sorry for you.
I said if you doubled tax rates on the rich we wouldn't solve the problem. I said if rates were at normal averages the amount to service the debt would be a Trillion.
Why are you so hateful in your replies? There are no lies in my posts.
I feel sorry for you.
First of all, doubling the tax rates WOULD solve the problem because the numbers you are giving are VERY inflated. I've told you WHY they are inflated, yet you continue with your drivel. Second of all, the current payment on interest to service the debt are around $200 billion (give or take). If interest rates were doubled we would pay around $400 billion. This could EASILY be looked up, but you REFUSE to do it. THAT is why I am so hateful. I get tired of your ignorance. They are lies, or at the very least, gross misrepresentations of the situation. I feel sorry for the American people that you and your ilk continue to mislead on a daily basis. You have absolutely ZERO proof about the 100 Trillion. It is a made up number using a bogus formula that no governmental agency nor non-biased economics expert supports. It is a LIE. STOP LYING. I challenge you to present credible evidence from a non-biased source...you can't.
Let's look at a few things. For one, the debt is about 100% of GDP. That is the equivalent of a person saying that they owe their years salary to debt. Ever owe on a house? It's FAR more than most people earn in a year. Being a years pay in debt is not the end of the world. Stop spinning.
Interest payments in 2014 were $222 billion. If we DOUBLED the rate and DOUBLED the interest, it would be FAR from $1 Trillion dollars. YOUR SPIN THAT YOU GLEANED from a right wing pundit.
Also, this is our "normal" interest rate. The fed has been managing our interest rates for YEARS. This is the way it works! Duh!
BONUS FACT: Though many people may believe that “China owns our debt,” as of July (the latest month available) China’s Treasury holdings amounted to about $1.28 trillion, or 7.6% of the total debt. China is, however, the United States’ largest overseas creditor, ahead of Japan, which holds more than $1.1 trillion in Treasuries.
I grow very tired of misinformed fools that fall for the BLOATED numbers from Faux News et al. CUT IT OUT!!!!!!!
Interest payments in 2014 were $222 billion. If we DOUBLED the rate and DOUBLED the interest, it would be FAR from $1 Trillion dollars. YOUR SPIN THAT YOU GLEANED from a right wing pundit.
Also, this is our "normal" interest rate. The fed has been managing our interest rates for YEARS. This is the way it works! Duh!
BONUS FACT: Though many people may believe that “China owns our debt,” as of July (the latest month available) China’s Treasury holdings amounted to about $1.28 trillion, or 7.6% of the total debt. China is, however, the United States’ largest overseas creditor, ahead of Japan, which holds more than $1.1 trillion in Treasuries.
I grow very tired of misinformed fools that fall for the BLOATED numbers from Faux News et al. CUT IT OUT!!!!!!!
Actually the largest holder of our debt is the SSI (16%) - which is worthless paper IOUs. The second largest holder is the US Fed (13%) - seeing as how they have 2.5T - which this is funny money that they created from thin air. And then other US govt entities bought it; again money our of thin air.
So before any foreign country or individual tax payers bought any of it, 40% of it is backed by you and me.
I wish China was our biggest holder. So when the deficit grows and the debt gets larger - who is gonna buy the notes to finance the debt? Are you buying it?
You are so in over your head on this particular subject you should stop.
When Bernie or Trump or any one else tell you they want to expand the current spend of Govt - please don't believe them. There isn't enough money to pay for what we have already committed to spend.
So before any foreign country or individual tax payers bought any of it, 40% of it is backed by you and me.
I wish China was our biggest holder. So when the deficit grows and the debt gets larger - who is gonna buy the notes to finance the debt? Are you buying it?
You are so in over your head on this particular subject you should stop.
When Bernie or Trump or any one else tell you they want to expand the current spend of Govt - please don't believe them. There isn't enough money to pay for what we have already committed to spend.
ALL industrialized countries print money from "thin air." We are no longer on the gold standard. Duh. I'm not "in over my head" you are. Otherwise you wouldn't have mentioned the fact that we are no longer on the gold standard. I mean it's been how many years that we haven't been? That is the way modern governments function. We have always been liable for the countries debts regardless. China is our largest foreign debt holder. Of course we "owe ourselves" for programs that we have committed to having. Who else would owe it? The question is; Can we afford it. If we don't use bogus spending and tax calculators we can. We will have to increase taxes a bit to do so, but as I mentioned before, the real tax rates in this country are not that high. According to right wing pundits and idiots it is, but those are bullshit spin jobs and you know it.
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I keep pulling data from govt websites and you keep talking about media pundits.
You can't increase taxes a little bit it doesn't put a dent in the problem.
I will leave you to your own little world now. Do me a favor and block me, I will do the same to you
You can't increase taxes a little bit it doesn't put a dent in the problem.
I will leave you to your own little world now. Do me a favor and block me, I will do the same to you
He says he gave government stats, but I haven't seen a link to anything...just his word for it. Prove it.
