Do you care about the federal debt. And, if yes, how much?

[East Lake Dawg 61]

Are you suggesting that the contract with America spending cuts were not instrumental in balancing the budget? Also, taxing SS should be a crime and needs to stop. We give billions away to the world but need to tax our seniors?

Not sure where the SS comment came from. I didn't say anything about tax on SS checks. My wife and I both get SS checks. We are in the category of persons who pay taxes on 85% of our SS income. If your total income is below a certain level (not positive of the dollar number) you are 100% exempt from Federal income tax on SS income.

All of the proposals I suggested in my first post in this thread are 100% directed at the top 5-10% of income earners/ high net worth people.

 

[shonuff253]

 

[East Lake Dawg 61]

True, and how did he do it? I would argue he did it with above trend growth. This was accomplished by reducing the capital gains tax rate and with help from the dot com boom. We didn't slash spending under Clinton, but we did average over 4% growth in his second term. We had similar growth under Reagan, but the average 10 year treasury yield under Reagan was 10.75%, it was around 6% under Clinton.

Juicing the growth rate and lowering treasury yields would solve a lot of our debt problems.

The only problem with your theory is that you can't just lower treasury yields. Other countries buy them and they will demand higher yields if they perceive higher risk. We need to show fiscal responsibilty such that others buy our debt at a low percentage rate because it's 100% secure. We are blowing that at the moment. Why should our largest creditors trust us right now? Serious question. We are screwing them all with tariffs.

 

[TivoliDawg]

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1) as I stated many times, DOGE is a complete farce. They have cut virtually nothing. $160B out of a goal of $2T. No cuts to the dept. of defense and it’s contractors.
2) Trump plans to INCREASE the federal debt, not cut it.

I would not support this bill if I was a senator.

As I’ve posted many times, Trump is not a conservative.