BOHICA - QE3 is on!

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Originally Posted by Sharpienads

I think they should just print off $16T and pay off the debt. Problem solved.

[Bang]

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Point of interest, for those who haven't taken the time to do the math. 16 trillion breaks out to approximately $48,000 of debt for every person in the United States. Yep, that's what you would have to fork over to do your "fair share" in paying off our current national debt. A family of 4? $192,000.

At the pace we're on, at the end of Obama's next term, unless he ramps up spending even more, which is likely, those figures will spike to $63,000 and $252,000. Nice, huh? That's what we're saddling the next generation with. Before they even see their first paycheck they're already that much in debt.

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Originally Posted by FastMan

Point of interest, for those who haven't taken the time to do the math. 16 trillion breaks out to approximately $48,000 of debt for every person in the United States. Yep, that's what you would have to fork over to do your "fair share" in paying off our current national debt. A family of 4? $192,000.

At the pace we're on, at the end of Obama's next term, unless he ramps up spending even more, which is likely, those figures will spike to $63,000 and $252,000. Nice, huh? That's what we're saddling the next generation with. Before they even see their first paycheck they're already that much in debt.

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Eff that fair share BS. Tax the rich, make them pay their "fair share" and mine, and my kids, and most of my wife's...

You guys need to stop worrying. We can always print more money.


http://youtu.be/q6vi528gseA

We keep going this way and toilet paper will be worth more than money. At least with toilet paper you have decent ass wipe. We keep going this way, and its has been said in another online forum, "the day is coming when someone will drop a $100 bill in the street and nobody will bother to pick it up"

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Originally Posted by Goodburbon

Eff that fair share BS. Tax the rich, make them pay their "fair share" and mine, and my kids, and most of my wife's...

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It's about time EVERYONE started paying their "fair share". That they don't is a major root of the problem. Half the population with their hands out, paying nothing in. Easy votes to buy, just keep promising them more, and tell them the rich will pay for it.

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Margaret Thatcher - "The problem with socialism is that you eventually run out of other people's money. "

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Originally Posted by FastMan

It's about time EVERYONE started paying their "fair share". That they don't is a major root of the problem. Half the population with their hands out, paying nothing in. Easy votes to buy, just keep promising them more, and tell them the rich will pay for it.

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To presume that the 48% of the citizenry have their hands out is hyberbole f not plain dishonesty. A substantial portion of those people have jobs, but make too little to owe federal income tax. They still pay plenty of other taxes, especially consumption taxes. They follow the same tax code that (presumably) you do. I know I don't want to lose the mortgage deduction, do you?

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Originally Posted by Rucker61

To presume that the 48% of the citizenry have their hands out is hyberbole f not plain dishonesty. A substantial portion of those people have jobs, but make too little to owe federal income tax. They still pay plenty of other taxes, especially consumption taxes. They follow the same tax code that (presumably) you do. I know I don't want to lose the mortgage deduction, do you?

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Whether they have their hands out or not is irrelevant. The fact is almost half of the population pays no federal income tax, yet still gets to have a say in what should happen with my money. And even if they do pay other forms of taxes, at least some of them make more in federal returns than they pay out in all the other taxes combined. The tax code is a cluster fuck. Big time.

Here's a fun fact: If the federal government cut it's budget in half (which could easily be done), we wouldn't have to pay individual income taxes and the budget would be balanced.

There is a radical change occuring in what I have thought as debt. To me debt is somthing to pay off, a monkey to get off your back. Thats old man thinking. Debt seems to have become somthing present from birth to grave like the water a fish swims in. Does anyone here think the 26 year old with $80k in student loans, and a degree in sociology will pay off her debt? Does any one here think Italy will pay off their debt? Does anyone here think the USA will pay off its debt? A liberal friend of mine told me that the US debt was "just like carrying a credit card balance". Why is this a problem? The individual debtor still has a car a nice place to live good food. The goverments still get to spend on the programs they like to spend on. Owning shit is a drag its just ties you down. Getting stuff paid off is not freedom. True freedom is embracing debt learning to swim freely in it, and aqquiring the material things you want. Birth to death. Like the water a fish swims in.

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Originally Posted by Rucker61

To presume that the 48% of the citizenry have their hands out is hyberbole f not plain dishonesty. A substantial portion of those people have jobs, but make too little to owe federal income tax. They still pay plenty of other taxes, especially consumption taxes. They follow the same tax code that (presumably) you do. I know I don't want to lose the mortgage deduction, do you?

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Our federal government is slated to spend 3.8 trillion dollars in 2012, about 12,000 on average on every person in the country. Half the populace pays not a single cent for all the beneficial things that money brings to them. No hyperbole there, nothing dishonest, it's just cut and dry facts.

There's a reason Obama has mushroomed the number of people on food stamps (1 in 6 americans now) and other federal subsidy programs. It locks more people into dependency on the government. The more he can lock into dependency, them more votes he can buy via borrowed money from China.

Everyone needs to be paying something. They need to feel like stakeholders, like contributors. It invests them into the future well being of the country. I'm for implementing a national value added tax, coupled with a balanced budget amendment. Any deficit would be resolved by an increase in the value added rate. Now that, would get people interested in putting a stop to the deficit spending that is on the verge of crippling us.

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Originally Posted by xring

There is a radical change occuring in what I have thought as debt. To me debt is somthing to pay off, a monkey to get off your back. Thats old man thinking. Debt seems to have become somthing present from birth to grave like the water a fish swims in. Does anyone here think the 26 year old with $80k in student loans, and a degree in sociology will pay off her debt? Does any one here think Italy will pay off their debt? Does anyone here think the USA will pay off its debt? A liberal friend of mine told me that the US debt was "just like carrying a credit card balance". Why is this a problem? The individual debtor still has a car a nice place to live good food. The goverments still get to spend on the programs they like to spend on. Owning shit is a drag its just ties you down. Getting stuff paid off is not freedom. True freedom is embracing debt learning to swim freely in it, and aqquiring the material things you want. Birth to death. Like the water a fish swims in.

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The problem is there's this nasty little thing called "debt service" That's the interest you have to pay each month on the money you owe other people. As your debt level grows it starts to suck up all your money. Dollars you could have been using to buy "cool stuff", just gets pissed away on paying debt service on dollars you spent frivolously in the past. You become slave to working your ass off, just to pay your debt master, with nothing left over to show for all your hard work.

It's quickly happening to our country.