Can’t be allowed to stand? Not sure what your problem is bud. You may honestly believe that a couple of years of running a budget surplus out of two centuries of excessive spending is acceptable but I don’t and that is the reason why we have a 22 trillion debt.Haha!
You said your post was “accurate as stated,” then immediately went on to tell me the times it wasn’t accurate (albeit in the “great minority” and a “drop in the proverbial bucket,”), which is exactly what I posted....WHICH MAKES YOUR INITIAL POST ALMOST ACCURATE, or if you prefer...”not quite” accurate.
And, I really don’t care to be pedantic, but you were (a little ) wrong. So, I gently corrected and I even posted the actual numbers, but you persisted, which can’t be allowed to stand.
And, don’t forget, there are some very wealthy people in America who own large swaths of Treasuries, and thus they MAKE MONEY from the debt, while usually also avoiding the taxes that pay for the interest they receive! Brilliant scam, huh?!
Oh, I’m sorry petal, now we are talking about “acceptable”?Can’t be allowed to stand? Not sure what your problem is bud. You may honestly believe that a couple of years of running a budget surplus out of two centuries of excessive spending is acceptable but I don’t and that is the reason why we have a 22 trillion debt.
Well, the entire tax code is pretty much a scam, but then incorporate and it becomes a veritable Pandora’s Box, especially under the current tax code.There are also plenty of not very wealthy people who own Treasuries — god forbid they make money I guess — and I’d love to see the support you have for how they “usually” avoid taxes in some kind of “scam”. I’ve only worked in finance for 20-plus years and somehow I’ve not run across this.
Don’t bother. He got his panties in a wad because I trivialized a couple of years of budget surpluses and then accused the wealthy of unilateral tax dodging.There are also plenty of not very wealthy people who own Treasuries — god forbid they make money I guess — and I’d love to see the support you have for how they “usually” avoid taxes in some kind of “scam”. I’ve only worked in finance for 20-plus years and somehow I’ve not run across this.
Says the man who made a false statement and doesn’t have the balls, or decency, to admit it and move on....and is now badmouthing me to someone else.Don’t bother. He got his panties in a wad because I trivialized a couple of years of budget surpluses and then accused the wealthy of unilateral tax dodging.
I even bolded it, but here you go....”spending more than the take from taxes.”Don’t see how what skybluetx said wrong...only time the debt was paid off was under Jackson, so he said...if that’s true, individual years of budget surpluses (unless they wipe out the whole debt) are irrelevant, because the overall debt remains - and that’s what he was answering it seems.
The point about the Clinton surpluses is one worth making, but nevertheless the national debt still grew 1.4 trillion under Clinton (despite the surpluses in given years)...which is still far better than most (see Gw bush and Obama). But even then, still the debt grew over the course of his administration...which seems to generally confirm the trend at the heart of the original post/question and skybluetx’s response to it.
Well, the entire tax code is pretty much a scam, but then incorporate and it becomes a veritable Pandora’s Box, especially under the current tax code.
And, yes, there are some less than wealthy people who own Treasuries, but they pale in comparison to those people for whom growth is not even needed and preservation of principle is a primary goal. Those people are usually quite wealthy.
And, well done you for working in finance for so long. I got sick of it quite quickly. Too many twats who were only interested in fucking other people for a dollar, so I switched careers.