All Forums > General Discussion > Non-Sports > What really eats me up...
11/14/2012 6:10 PM
What's the short term benefit of reducing the deficit?
11/14/2012 6:15 PM
Posted by toddcommish on 11/14/2012 6:04:00 PM (view original):
Posted by MikeT23 on 11/14/2012 5:59:00 PM (view original):
$390 a year?  Why ******* bother?  What sort of "dent" will that make?
Just the threat of adding onto the tax sent some millionaires off-shore for their investments, taking more money OUT of the economy than the $390 would have put in through taxing them.

Don't you think that the rich people are already multiple steps ahead of Obama's pickpockets?

If you know someone is going to try and pickpocket you, YOU MOVE YOUR MONEY.
That wasn't intended for you.  It was for badluck. 

I fully understand why people fear such a small amount.    Because it becomes a bigger amount when that amount proves to be pointless.    Ask for an inch, take a mile.
11/14/2012 6:17 PM
Posted by bad_luck on 11/14/2012 6:10:00 PM (view original):
What's the short term benefit of reducing the deficit?
Why is everything "short-term" or "right now" with you?

Do you have a terminal illness?    Can't we attempt to pass down a better America to the future while making it better for ourselves now?   Isn't that the whole concept behind the "green" movement?  
11/14/2012 6:18 PM
Posted by MikeT23 on 11/14/2012 6:17:00 PM (view original):
Posted by bad_luck on 11/14/2012 6:10:00 PM (view original):
What's the short term benefit of reducing the deficit?
Why is everything "short-term" or "right now" with you?

Do you have a terminal illness?    Can't we attempt to pass down a better America to the future while making it better for ourselves now?   Isn't that the whole concept behind the "green" movement?  
Is there a short term benefit to reducing the deficit?

Just curious.
11/14/2012 6:27 PM
Unlikely.   There's no short-term benefit to paying off credit cards either.   But I do it because, eventually, you reach your limit, can't make the payments or die. 
11/14/2012 6:32 PM
Ok. That's not really a valid analogy...but playing along, if paying off your credit cards early actually reduced your ability to earn more money, you'd probably avoid it, right?


11/14/2012 6:36 PM
I could just cut back some unnecessary expenses and reduce my credit card bill. 

And it really is a valid analogy.   There is NO BENEFIT to making minimum payments on my credit card.   And there is NO BENEFIT to making unnecessary purchases thus increasing my debt.
11/14/2012 6:40 PM (edited)
Posted by bad_luck on 11/14/2012 6:18:00 PM (view original):
Posted by MikeT23 on 11/14/2012 6:17:00 PM (view original):
Posted by bad_luck on 11/14/2012 6:10:00 PM (view original):
What's the short term benefit of reducing the deficit?
Why is everything "short-term" or "right now" with you?

Do you have a terminal illness?    Can't we attempt to pass down a better America to the future while making it better for ourselves now?   Isn't that the whole concept behind the "green" movement?  
Is there a short term benefit to reducing the deficit?

Just curious.
short term = maintaining our credit rating. a reduced rating increases the cost of borrowing money. apply that to everyday life... I have a 1.9% auto loan..... you have a 8.9% loan because of our respective fico scores. you WILL pay an absorbent amount more than I will for the same car. works the same way for our government.
11/14/2012 6:44 PM
I think the US government is borrowing at a 10 year negative interest rate.
11/14/2012 6:44 PM
Posted by toddcommish on 11/14/2012 4:19:00 PM (view original):
I actually use the concept of "fair' in one of the training classes I facilitiate (MBTI)

To a THINKING person, fair means you set a standard, and then you apply it to people.  This removes subjectivity and sets an objective standard.  A flat tax on all earnings (no loopholes) would be an example of how a THINKING preference would handle taxes.

To a FEELING person, fair means every individual situation is considered, regardless of any standard.  This removes objectivity and sets a subjective standard.  A graduated tax system where the rich pay proportionately more would be an example of how a FEELING preference would handle taxes.

Both think their way is "fair".  And they're about as opposite as possible. 

p.s. The THINKING people are right.
exactly. thanks for clarifying the point.... 'fair' is subjective.
11/14/2012 6:45 PM
Posted by bad_luck on 11/14/2012 6:44:00 PM (view original):
I think the US government is borrowing at a 10 year negative interest rate.
and what is Greece borrowing at?
11/14/2012 7:00 PM (edited)
Greece is tied to the Euro. It has no control over its currency. That's a completely different situation, more like a state.

The downside of putting off dealing with the deficit is very small if it exists. It's unlikely that any of us would be personally affected by that decision.

The downside of significantly reducing the deficit is very real - economic downturn - and would in all likelihood directly affect all of us.
11/14/2012 7:10 PM
Posted by MikeT23 on 11/14/2012 6:17:00 PM (view original):
Posted by bad_luck on 11/14/2012 6:10:00 PM (view original):
What's the short term benefit of reducing the deficit?
Why is everything "short-term" or "right now" with you?

Do you have a terminal illness?    Can't we attempt to pass down a better America to the future while making it better for ourselves now?   Isn't that the whole concept behind the "green" movement?  

This.

11/14/2012 7:11 PM
Posted by tecwrg on 11/14/2012 6:09:00 PM (view original):
Posted by bad_luck on 11/14/2012 5:46:00 PM (view original):
Posted by MikeT23 on 11/14/2012 4:53:00 PM (view original):
I guess I went about 10 pages on cutting spending to reduce the deficit with badluck.   Seems he wasn't interested in slowly reducing the deficit by spending cuts.  None were "enough to make a dent".

How much more do we need to tax "the rich" to make "a dent"?

That's not at all what we were arguing about. Long term the deficit needs to be dealt with. But not right now, not through spending cuts or tax increases. Let the economy recover fully, then worry about the deficit. Part of it will go away through economic improvement alone anyway.
Committing yourself fully to fixing one huge problem (the economy) while completely ignoring/neglecting the other huge problem (the deficit) seems extremely short sighted and irresponsible.

As I believe Mike previously pointed out, the U.S. government is probably capable of multi-tasking.
Or this.
11/14/2012 7:12 PM
"WE CAN ONLY HANDLE ONE PROBLEM AT A TIME!!!!!" - badluck circa a couple of minutes, and days, ago
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