[QatzelOk]

...a million shares traded a day...

...

Yes, I remember when the Irish ran out of money to buy potatoes or any other food. ...

It looked like this: https://fred.stlouisfed.org/series/GFDEBTN/

Notice that USA gov debt was only 5 trillion in 2001 (beginning of War on Terror) and is now upwards of 30 trillion dollars. What can the USA export to pay off this debt to its own banksters? Its young people? Perhaps they could be exported to Israel and Ukraine to get "depopulated?"

Coming soon:

[Hakeer]

It looked like this: https://fred.stlouisfed.org/series/GFDEBTN/

Notice that USA gov debt was only 5 trillion in 2001 (beginning of War on Terror) and is now upwards of 30 trillion dollars. What can the USA export to pay off this debt to its own banksters? Its young people? Perhaps they could be exported to Israel and Ukraine to get "depopulated?"

Coming soon:

You will notice that the Reagan tax cuts started the upward trajectory, which the Bush tax cuts made steeper in 2001. It’s gone unchecked ever since, made worse by Trump tax cuts, pandemic, and recovery.

[SpecialOlympian]

It looked like this: https://fred.stlouisfed.org/series/GFDEBTN/

Notice that USA gov debt was only 5 trillion in 2001 (beginning of War on Terror) and is now upwards of 30 trillion dollars. What can the USA export to pay off this debt to its own banksters? Its young people? Perhaps they could be exported to Israel and Ukraine to get "depopulated?"

Coming soon:

Did you have anything to say or did you just want to waste my time?

I thought you had a Master's in Economincs, but you sound like a moron.

[QatzelOk]

You will notice that the Reagan tax cuts started the upward trajectory...

By Reagan's presidency, the vast majority of Americans were living in the suburbs, and were totally disconnected from any kind of community.

This was when the "adults" started piling up the debts for future generations to pay.

NOT caring about future generations... is often a reason why the young revolt against the old. If the young start to destroy the older generations and their corrupt institutions (the Fed, Wall Street, NATO, AIPAC, golden handshakes), it will be in self defense.

The corrupt adults are destroying their own children's future, and they can't seem to wake up.

Did you have anything to say or did you just want to waste my time?

I thought you had a Master's in Economincs, but you sound like a moron.

Pretending to be deaf (when the future is at stake) disqualifies you from any kind of serious discussion.

[Hakeer]

By Reagan's presidency, the vast majority of Americans were living in the suburbs, and were totally disconnected from any kind of community.

This was when the "adults" started piling up the debts for future generations to pay.

NOT caring about future generations... is often a reason why the young revolt against the old. If the young start to destroy the older generations and their corrupt institutions (the Fed, Wall Street, NATO, AIPAC, golden handshakes), it will be in self defense.

The corrupt adults are destroying their own children's future, and they can't seem to wake up.


Pretending to be deaf (when the future is at stake) disqualifies you from any kind of serious discussion.

Go look at the national debt from the end of WW2 to 1980. Spending did not accelerate in 1980. Revenue was lost to give money to billionaires. The federal deficit exploded. Look at your own graph. It happened again with Bush and Trump. Democrats would raise taxes on billionaires to reverse this, but first need control of Congress. It was in Biden’s budget and will be in Harris’s. It will, as always, be blocked by Republicans.

[QatzelOk]

Revenue was lost to give money to billionaires.

Was COVID and QE more examples of this?

What about every world war?

[SpecialOlympian]

Why does Qatz think paying off the national debt is an emergency, that bonds are the primary source of income from billionaires (who absolutely have the money to take on greater risk than something might barely beat inflation), and that the ownership of bonds is some kind of power leverage and not a fairly standard form of investment for individuals, companies, and countries alike?

I really don't believe you understand how sovereign debt works and just vaguely connected it to "banksters" in your head.

[Indi]

Go look at the national debt from the end of WW2 to 1980. Spending did not accelerate in 1980. Revenue was lost to give money to billionaires. The federal deficit exploded. Look at your own graph. It happened again with Bush and Trump. Democrats would raise taxes on billionaires to reverse this, but first need control of Congress. It was in Biden’s budget and will be in Harris’s. It will, as always, be blocked by Republicans.

Would you have any objections to taxing gross income instead of adjusted gross income? Might even save a few trees as well as massively simplifying filing and verifying tax returns.
Just took a look at Biden's 2020 taxes, and what I suggested above would have increased his taxes by $10,475. Not a great deal but then He is at the low end of the top 1%. And while the top 1% paid an average tax rate of 26.0%, His tax rate would then have been 26.9%, and the average AGI NOT GROSS INCOME of the top 1% in 2020 was $1,765,623 which if taxed at the married joint return tax rates would result in a tax of $590,429, or a tax rate of 33.4% yet the average tax rate of the top 1% was 26.0%

[Hakeer]

Would you have any objections to taxing gross income instead of adjusted gross income? Might even save a few trees as well as massively simplifying filing and verifying tax returns.
Just took a look at Biden's 2020 taxes, and what I suggested above would have increased his taxes by $10,475. Not a great deal but then He is at the low end of the top 1%. And while the top 1% paid an average tax rate of 26.0%, His tax rate would then have been 26.9%, and the average AGI NOT GROSS INCOME of the top 1% in 2020 was $1,765,623 which if taxed at the married joint return tax rates would result in a tax of $590,429, or a tax rate of 33.4% yet the average tax rate of the top 1% was 26.0%

Taxing gross income above $400,000 would allow no increase on the low income brackets. I want billionaires to pay the tax to balance the federal budget without cuts to mandatory spending for Social Security, Medicare, Medicaid, etc., etc,

If 33% isn’t high enough, take it as high as necessary. I leave it to CBO to figure it out. Of course, this all depends on Congress actually giving a damn about the federal budget deficit.

[Indi]

Taxing gross income above $400,000 would allow no increase on the low income brackets. I want billionaires to pay the tax to balance the federal budget without cuts to mandatory spending for Social Security, Medicare, Medicaid, etc., etc,

If 33% isn’t high enough, take it as high as necessary. I leave it to CBO to figure it out. Of course, this all depends on Congress actually giving a damn about the federal budget deficit.

I'm trying to accomplish essentially what you appear to be wanting, by an algorithmic produced tax table applied to the gross income of each individual, without need/use of any forms of tax reducing loopholes.

Why not put political forums to use in resolving issues? It should, IMO, be obvious to ALL that inflation is NOT the path to achieving equality, but more so to achieving massive unsustainable disparity between the rich and the poor.

We have but two choices to choose from, remaining a part of the problem or becoming a part of the solution.

[QatzelOk]

...I really don't believe you understand how sovereign debt works and just vaguely connected it to "banksters" in your head.

I have known how "debt" works ever since reading "The Merchant of Venice" in high school.

The greed-leveraged sentence structures of TV-Economists with their paid-for lies and obscurities.. is not something that has affected me as I haven't interacted with commercial medea lies for 24 years.

I like how you suggest that banksters have nothing to do with debt. It's cute. Like banksters are just hiding in bankvaults "doing their art."

[QatzelOk]

By the way, the NATIONAL BANKRUPTCIES OF WESTERN NATIONS is the most hidden story of our lifetimes.

This relates to the Valencia Floods Thread in the following way:

In much the same way as Western media *missed* the important detail that Valencia rerouted a major river 50 years ago.... Western media continues to miss the increasing indebtedness and upcoming bankruptcy of Western countries.

Really, our bankruptcy is the IMPORTANT DETAIL in explaining a lot of recent propaganda events, like the wars we are suddenly involved in.

If half of America dies in a war in the next five years, this will be partially a result of our elite's behavior in reacting to upcoming state bankrupcty. This bankarupty will affect you and I more than any other feature of our current governance.

And it is unreported....

The revolution will not be televised, and neither will the reasons our countries are starting a world war be televised: Bankrupcty leads to brinksmanship and state destrution. And yet, our media finds Taylor Swift's concerts to be more important.

[Rancid]

@QatzelOk what is worse. To be monitarily bankrupt, or morally bankrupt?

What does one do when their soul is in debt?

[QatzelOk]

@QatzelOk what is worse. To be monitarily bankrupt, or morally bankrupt?

What does one do when their soul is in debt?

When countries go bankrupt, they are destroyed by their creditors.

When nations are morally bankrupt, they are in agreement with their creditors. They "realize" (through creditor-funded media) that their nation must be destroyed "for the sake of God and world peace" or some other lie.

[SpecialOlympian]

I have known how "debt" works ever since reading "The Merchant of Venice" in high school.

Lmao. Note: Qatz is referring to the character of Shylock the Jewish moneylender.

When countries go bankrupt, they are destroyed by their creditors.

Tell us who the creditors are who are bigger than nations, Qatz. Please name them, and be very specific in who they are.

Is there any point in PoFo history where we won't have to treat with respect the biggest fucking morons going *cough*JEWS*cough*?

Qatz is a literal clown who rides a unicycle around town while wearing a fez. Why in God's name does politeness force us to indulge his blatant antisemitism? His laughably stupid bigotry where he lazily waves to works of classic English literature with very obvious Jewish lenders? It's just lazy on his part.

We deserve a higher class of bigot.

[Unthinking Majority]

@QatzelOk what is worse. To be monitarily bankrupt, or morally bankrupt?

What does one do when their soul is in debt?

Debt of the soul is called feeling guilt, which is optional. Material needs and paying back lending institutions is not.

There's lots of happy people who are assholes. So the lesson here is to borrow money from friends and family when you need a loan but don't pay them back

[Potemkin]

Debt of the soul is called feeling guilt, which is optional. Material needs and paying back lending institutions is not.

There's lots of happy people who are assholes. So the lesson here is to borrow money from friends and family when you need a loan but don't pay them back

Stealing from your friends and family is the smart thing to do - they’re less likely to report you to the rozzers. Lol.

[Tainari88]

Stealing from your friends and family is the smart thing to do - they’re less likely to report you to the rozzers. Lol.

My philosophy is the opposite. Better to give the shaft to the bank or the institutions and flee your debt with bad credit ratings. Never fail to pay back families and friends. For me friends and family are much higher on the respect list.

[Potemkin]

My philosophy is the opposite. Better to give the shaft to the bank or the institutions and flee your debt with bad credit ratings. Never fail to pay back families and friends. For me friends and family are much higher on the respect list.

Indeed. But I’m rather jaded about this sort of thing - my great-uncle Walter (whom you already know about) stole significant amounts of money from his brother, my grandfather, and got away with it. Some people regard the fact that they are related to somebody merely as an opportunity to steal money from them with no risk of being sent to prison.

[Tainari88]

Indeed. But I’m rather jaded about this sort of thing - my great-uncle Walter (whom you already know about) stole significant amounts of money from his brother, my grandfather, and got away with it. Some people regard the fact that they are related to somebody merely as an opportunity to steal money from them with no risk of being sent to prison.

Your Uncle Walter was a total scoundrel.

But the Greedmeisters in a family always make an appearance. I remember when my mother in law died in 1985 some cousins from the hometown showed up eyeing furniture and looking for items to sell off without consulting her son at all. Who was grieving. I really detest those vultures. But they exist out there.