Political Forums  

Go Back   Defending The Truth Political Forum > Political Issues > Money and Finance > U.S. Federal Policy


Thanks Tree6Thanks
Reply
 
LinkBack Thread Tools Display Modes
Old March 30th, 2018, 07:02 AM   #21
Senior Member
 
Join Date: Jun 2013
Location: Katmandu
Posts: 5,272
Quote:
Originally Posted by Athena View Post
I can not follow the logic of that. If I take out a loan to buy an electric car, do I have to claim that borrowed money as income when I do my taxes?
I am really feeling stupid! This is a moment when I would love to be king. I would say that borrowed money is not counted as income. I wonder what Hamilton and Adam Smith would say about that? Is anyone here smart enough to speak for these men? It might be interesting.

How about a date? What do you say, we go to the U of O document library and look up the documents for creating Social Security, and then have lunch and discuss what we find? Like was part of the reasoning for Social Security having this pool of money to count as income and spend? Along with numbering everyone so we would know the potential size of our army.
The SS trust fund is a pile of US government debt. As that debt comes due the Government has to borrow money to settle up with the trust fund.

Goober acts like it isn't real debt, but if the federal government didn't honor those notes SS checks wouldn't go out.

SS has been the red since 2010.
Libertine is offline  
Old April 10th, 2018, 07:13 AM   #22
Senior Member
 
Join Date: Feb 2014
Location: Oregon
Posts: 1,878
Quote:
Originally Posted by Libertine View Post
The SS trust fund is a pile of US government debt. As that debt comes due the Government has to borrow money to settle up with the trust fund.

Goober acts like it isn't real debt, but if the federal government didn't honor those notes SS checks wouldn't go out.

SS has been the red since 2010.
The US is like a smoker in denial of the harm done. Perhaps the public should reconsider the reasons for impeaching a president? I am sure future generations will wish we did something to stop the growing debt.

As I understand what I have read, the Social Security trust fund would be doing just fine, if the Reagan administration didn't start the looting of that trust fund.

Quote:
The Looting of Social Security: Pre-taxing the Baby Boomers ...
https://www.fedsmith.com/2011/09/......g-baby-boomers...
Sep 30, 2011 - However, non-marketable government IOUs were placed in the trust fund as an accounting device to show how much Social Security money had been spent. Reagan set the precedent, which would be followed by the next four presidents, and their Congresses, Republicans and Democrats alike. However ..
I think what Reagan did marks the beginning of the end, and Bush Jr. took this a step further.

Quote:
How the US public was defrauded by the hidden cost of the Iraq war ...
https://www.theguardian.com/.../2013...en-cost-iraq-w...
Mar 11, 2013 - These appropriations allowed the Bush administration to shield the Pentagon's budget from the cuts otherwise needed to finance the war, to keep the ... so rapaciously because they were so desperately needed by the US government to run the Iraq war without revealing its true cost to the American public.
Those who determine their vote on the abortion issue are too short-sighted. The debt we are leaving our young may mean the US falls as Rome fell.
Athena is offline  
Old April 12th, 2018, 07:39 AM   #23
Senior Member
 
Join Date: Jun 2013
Location: Katmandu
Posts: 5,272
Quote:
Originally Posted by Athena View Post
The US is like a smoker in denial of the harm done. Perhaps the public should reconsider the reasons for impeaching a president? I am sure future generations will wish we did something to stop the growing debt.

As I understand what I have read, the Social Security trust fund would be doing just fine, if the Reagan administration didn't start the looting of that trust fund.



I think what Reagan did marks the beginning of the end, and Bush Jr. took this a step further.



Those who determine their vote on the abortion issue are too short-sighted. The debt we are leaving our young may mean the US falls as Rome fell.
You are looking a little partisan there.

Reagan increased SS taxes to keep it out of the red.

That increase in SS tax collections is why Clinton claims a surplus, which was not existent and a lie.

Reagan also taxed SS, which makes no sense.

All of GWB's war spending ended up in the deficit and national debt, it wasn't hidden.

Obama's failed surge in Afghanistan kept war and military spending at GWB levels for years.
Libertine is offline  
Old April 12th, 2018, 08:20 AM   #24
Senior Member
 
Join Date: Feb 2014
Location: Oregon
Posts: 1,878
Quote:
Originally Posted by Libertine View Post
You are looking a little partisan there.

Reagan increased SS taxes to keep it out of the red.

That increase in SS tax collections is why Clinton claims a surplus, which was not existent and a lie.

Reagan also taxed SS, which makes no sense.

All of GWB's war spending ended up in the deficit and national debt, it wasn't hidden.

Obama's failed surge in Afghanistan kept war and military spending at GWB levels for years.
Did you read this link?

Quote:
Ronald Reagan and The Great Social Security Heist : FedSmith.com
https://www.fedsmith.com/2013/10/......l-security-hei...
Oct 11, 2013 - The author says that the Social Security amendments passed under Reagan's presidency laid the foundation for 30 years of federal embezzlement of the Social Security trust funds.
As I understand, what the Reagan administration did to the trust fund, it was a slight of hand. If the money was not taken out and spent, none of us would be worrying about our Social Security checks.

I like to say the Reagan administration because I think Reagan was a good actor, not a good political leader. I think when it came to political decisions he was pretty clueless and controlled by others. He was living a fantasy not well connected to reality at all.

As for being partisan, I see a connection between Republican presidents and the Military Industrial Complex ever since the Eisenhower administration. Eisenhower, Reagon and the Bush's were Texas choices for Presidents and tied with the neoconservatives. I think Bush Senior and in a half-assed way Bush Junior, knew what was going on, but Eisenhower realized it too late and Reagan was just living a fantasy.

Last edited by Athena; April 12th, 2018 at 08:29 AM.
Athena is offline  
Old April 12th, 2018, 09:44 AM   #25
Senior Member
 
Polari's Avatar
 
Join Date: Mar 2013
Location: Britton, SD
Posts: 1,787
Quote:
Originally Posted by Athena View Post
A democracy where citizens have little understanding of economics is insane.

I am very sure very few Americans understand the economics of our nation. Maybe you all can prove me wrong about that, and I would be glad to be wrong. What is your understanding of the difference between deficit and debt? Do you think Trump's budget will improve or hurt our economy?

https://www.thebalance.com/deficit-v...conomy-3305779
a - b = c when c is a negative number you owe, both a debt and a deficit mean you suck at math!
Polari is offline  
Old April 12th, 2018, 11:10 AM   #26
Senior Member
 
Join Date: Jun 2013
Location: Katmandu
Posts: 5,272
Quote:
Originally Posted by Athena View Post
Did you read this link?



As I understand, what the Reagan administration did to the trust fund, it was a slight of hand. If the money was not taken out and spent, none of us would be worrying about our Social Security checks.

I like to say the Reagan administration because I think Reagan was a good actor, not a good political leader. I think when it came to political decisions he was pretty clueless and controlled by others. He was living a fantasy not well connected to reality at all.

As for being partisan, I see a connection between Republican presidents and the Military Industrial Complex ever since the Eisenhower administration. Eisenhower, Reagon and the Bush's were Texas choices for Presidents and tied with the neoconservatives. I think Bush Senior and in a half-assed way Bush Junior, knew what was going on, but Eisenhower realized it too late and Reagan was just living a fantasy.
So you think that before Reagan the cash collected from payroll taxes was trucked down to Fort Knox and kept there for the SS trust fund?
Libertine is offline  
Old April 14th, 2018, 08:54 AM   #27
Senior Member
 
Join Date: Feb 2014
Location: Oregon
Posts: 1,878
Quote:
Originally Posted by Polari View Post
a - b = c when c is a negative number you owe, both a debt and a deficit mean you suck at math!
That is beautiful. I am reminded of my school teacher grandmother getting me to understand negative numbers by relating them to money and overdrawing a bank account. That is something you want to avoid.

I believe it was Indian mathematicians who got us to understand the zero and a deficit. Such thinking was not possible in Athens or Rome. Kind of like some of our politicians. If it is nothing or less, it doesn't exist. Unless you are banker, than that nothing can be three times more money than you had yesterday, only on the plus side.

Last edited by Athena; April 14th, 2018 at 09:05 AM.
Athena is offline  
Old April 14th, 2018, 09:01 AM   #28
Senior Member
 
Join Date: Feb 2014
Location: Oregon
Posts: 1,878
Quote:
Originally Posted by Libertine View Post
So you think that before Reagan the cash collected from payroll taxes was trucked down to Fort Knox and kept there for the SS trust fund?
That is not what the link said and I think you are only trying to deny that what Reagan did was very wrong and we are going to pay for that.

However, if you are sincere let us talk about the insane banking system we have. How the bank loans out far more money than it has and claims it has far more money than it has, as though a debit is a profit.
Athena is offline  
Reply

  Defending The Truth Political Forum > Political Issues > Money and Finance > U.S. Federal Policy

Tags
debt, deficit, difference



Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
What is the difference? gmeyers1944 Crime and Punishment 1 September 13th, 2017 04:12 AM
What's The Difference??? Tony Middle East 2 January 6th, 2015 07:03 PM
Ponzi: Treasury Issues $1T in New Debt in 8 Weeks—To Pay Old Debt ptif219 Current Events 8 November 28th, 2014 06:29 PM
Succintly Expressed by a 12 Year Old Girl, How America Got So far in Debt, and How to Get Out of Debt Immediately, Told in Six Minutes Radicalcentrist Debt 0 June 14th, 2012 12:34 PM
How Can You Tell the Difference Between the RNC and the DNC? tristanrobin Politicians 0 September 10th, 2008 06:26 AM


Facebook Twitter RSS Feed



Copyright © 2005-2013 Defending The Truth. All rights reserved.