Skip to content
  • Categories
  • Recent
  • Tags
  • Popular
  • Users
  • Groups
Skins
  • Light
  • Cerulean
  • Cosmo
  • Flatly
  • Journal
  • Litera
  • Lumen
  • Lux
  • Materia
  • Minty
  • Morph
  • Pulse
  • Sandstone
  • Simplex
  • Sketchy
  • Spacelab
  • United
  • Yeti
  • Zephyr
  • Dark
  • Cyborg
  • Darkly
  • Quartz
  • Slate
  • Solar
  • Superhero
  • Vapor

  • Default (No Skin)
  • No Skin
Collapse

The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Massie: This bill adds 20T to the debt over 10 years.

Massie: This bill adds 20T to the debt over 10 years.

Scheduled Pinned Locked Moved General Discussion
37 Posts 9 Posters 282 Views
  • Oldest to Newest
  • Newest to Oldest
  • Most Votes
Reply
  • Reply as topic
Log in to reply
This topic has been deleted. Only users with topic management privileges can see it.
  • 89th8 89th

    Not as sexy as a headline of "$60 million dollars sent to NY on illegals!"

    We're fucked.

    HoraceH Online
    HoraceH Online
    Horace
    wrote on last edited by
    #6

    @89th said in Massie: This bill adds 20T to the debt over 10 years.:

    Not as sexy as a headline of "$60 million dollars sent to NY on illegals!"

    We're fucked.

    Yeah, but it's impossible to take seriously any argument that a vote for Harris would have put us on a viable correction course.

    Education is extremely important.

    1 Reply Last reply
    • 89th8 Offline
      89th8 Offline
      89th
      wrote on last edited by
      #7

      Yeah Harris would've just been a sequel to Weekend at Bernie's.

      1 Reply Last reply
      • LuFins DadL Offline
        LuFins DadL Offline
        LuFins Dad
        wrote on last edited by
        #8

        The bill is a bunch of crap for a lot of reasons beyond the deficit increase. If passed, it makes servers and common labor into a protected and favored class, paying less on their taxes than others in the same income bracket. That is nuts. I want to see what those numbers alone are. I honestly wonder about the legality of it.

        But the meat of it is still making the 2017 tax cuts permanent, and frankly, I distrust the CBO’s estimates. From 2019-2023, the tax revenues averaged nearly $170B more per year than the CBO projections. At the same time, CBO projections on higher tax levels almost always overestimate the projected revenue. CBO projections for the Obama years projected $30T in federal revenues under the Obama administration’s plans, but the reality was about $4.5T less.

        Simultaneously, we’ve got a very serious market and real estate bubble going on, inflation is still higher than the Fed is comfortable with, and we still have high interest rates over what we’re used to seeing. We need substantial and sustainable growth right now, desperately. I don’t see how that happens while raising taxes back to the Obama levels.

        The Brad

        HoraceH JollyJ 2 Replies Last reply
        • LuFins DadL LuFins Dad

          The bill is a bunch of crap for a lot of reasons beyond the deficit increase. If passed, it makes servers and common labor into a protected and favored class, paying less on their taxes than others in the same income bracket. That is nuts. I want to see what those numbers alone are. I honestly wonder about the legality of it.

          But the meat of it is still making the 2017 tax cuts permanent, and frankly, I distrust the CBO’s estimates. From 2019-2023, the tax revenues averaged nearly $170B more per year than the CBO projections. At the same time, CBO projections on higher tax levels almost always overestimate the projected revenue. CBO projections for the Obama years projected $30T in federal revenues under the Obama administration’s plans, but the reality was about $4.5T less.

          Simultaneously, we’ve got a very serious market and real estate bubble going on, inflation is still higher than the Fed is comfortable with, and we still have high interest rates over what we’re used to seeing. We need substantial and sustainable growth right now, desperately. I don’t see how that happens while raising taxes back to the Obama levels.

          HoraceH Online
          HoraceH Online
          Horace
          wrote on last edited by
          #9

          @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

          The bill is a bunch of crap for a lot of reasons beyond the deficit increase. If passed, it makes servers and common labor into a protected and favored class, paying less on their taxes than others in the same income bracket. That is nuts. I want to see what those numbers alone are. I honestly wonder about the legality of it.

          I get the principle of the objection, but I think the actual numbers in play here are a rounding error.

          Education is extremely important.

          LuFins DadL 1 Reply Last reply
          • HoraceH Horace

            @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

            The bill is a bunch of crap for a lot of reasons beyond the deficit increase. If passed, it makes servers and common labor into a protected and favored class, paying less on their taxes than others in the same income bracket. That is nuts. I want to see what those numbers alone are. I honestly wonder about the legality of it.

            I get the principle of the objection, but I think the actual numbers in play here are a rounding error.

            LuFins DadL Offline
            LuFins DadL Offline
            LuFins Dad
            wrote on last edited by
            #10

            @Horace said in Massie: This bill adds 20T to the debt increase 10 years.:

            @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

            The bill is a bunch of crap for a lot of reasons beyond the deficit increase. If passed, it makes servers and common labor into a protected and favored class, paying less on their taxes than others in the same income bracket. That is nuts. I want to see what those numbers alone are. I honestly wonder about the legality of it.

            I get the principle of the objection, but I think the actual numbers in play here are a rounding error.

            You’re probably right, but the principal of the objection is still the point.

            Can my year end bonus be made a tip? Heck, what about my commissions?

            The Brad

            1 Reply Last reply
            • jon-nycJ Online
              jon-nycJ Online
              jon-nyc
              wrote on last edited by
              #11

              Wait until hedge fund managers start paying themselves tips from their LLCs.

              Only non-witches get due process.

              • Cotton Mather, Salem Massachusetts, 1692
              1 Reply Last reply
              • LuFins DadL LuFins Dad

                The bill is a bunch of crap for a lot of reasons beyond the deficit increase. If passed, it makes servers and common labor into a protected and favored class, paying less on their taxes than others in the same income bracket. That is nuts. I want to see what those numbers alone are. I honestly wonder about the legality of it.

                But the meat of it is still making the 2017 tax cuts permanent, and frankly, I distrust the CBO’s estimates. From 2019-2023, the tax revenues averaged nearly $170B more per year than the CBO projections. At the same time, CBO projections on higher tax levels almost always overestimate the projected revenue. CBO projections for the Obama years projected $30T in federal revenues under the Obama administration’s plans, but the reality was about $4.5T less.

                Simultaneously, we’ve got a very serious market and real estate bubble going on, inflation is still higher than the Fed is comfortable with, and we still have high interest rates over what we’re used to seeing. We need substantial and sustainable growth right now, desperately. I don’t see how that happens while raising taxes back to the Obama levels.

                JollyJ Offline
                JollyJ Offline
                Jolly
                wrote on last edited by
                #12

                @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                Simultaneously, we’ve got a very serious market and real estate bubble going on, inflation is still higher than the Fed is comfortable with, and we still have high interest rates over what we’re used to seeing. We need substantial and sustainable growth right now, desperately. I don’t see how that happens while raising taxes back to the Obama levels.

                This. 👆

                I'm also in favor of a cap on the tip exemption.

                “Cry havoc and let slip the DOGE of war!”

                Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                1 Reply Last reply
                • JollyJ Offline
                  JollyJ Offline
                  Jolly
                  wrote on last edited by
                  #13

                  Secondly, a lot of our problem is entitlements. Fer gawd's sake, take the cap off of FICA...

                  “Cry havoc and let slip the DOGE of war!”

                  Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                  1 Reply Last reply
                  • HoraceH Online
                    HoraceH Online
                    Horace
                    wrote on last edited by
                    #14

                    So, where's the removal of the SS cap? Is that in the picture in any conceivable legislative future?

                    Education is extremely important.

                    1 Reply Last reply
                    • LuFins DadL Offline
                      LuFins DadL Offline
                      LuFins Dad
                      wrote on last edited by
                      #15

                      Pssst, it’s not the entitlements…

                      https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                      The Brad

                      jon-nycJ 1 Reply Last reply
                      • HoraceH Online
                        HoraceH Online
                        Horace
                        wrote on last edited by
                        #16

                        "We give too much money to the poor" will be a tough sell.

                        Education is extremely important.

                        1 Reply Last reply
                        • LuFins DadL LuFins Dad

                          Pssst, it’s not the entitlements…

                          https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                          jon-nycJ Online
                          jon-nycJ Online
                          jon-nyc
                          wrote on last edited by jon-nyc
                          #17

                          @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                          Pssst, it’s not the entitlements…

                          https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                          This is really disingenuous. The ticking time bomb that are entitlements won’t actually explode for a decade ergo it’s not the problem.

                          Zero out everything he mentions and entitlements still bankrupt us before Finley graduates college.

                          Only non-witches get due process.

                          • Cotton Mather, Salem Massachusetts, 1692
                          LuFins DadL 1 Reply Last reply
                          • CopperC Offline
                            CopperC Offline
                            Copper
                            wrote on last edited by
                            #18

                            This might be a good time to start a balanced budget movement.

                            1 Reply Last reply
                            • jon-nycJ jon-nyc

                              @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                              Pssst, it’s not the entitlements…

                              https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                              This is really disingenuous. The ticking time bomb that are entitlements won’t actually explode for a decade ergo it’s not the problem.

                              Zero out everything he mentions and entitlements still bankrupt us before Finley graduates college.

                              LuFins DadL Offline
                              LuFins DadL Offline
                              LuFins Dad
                              wrote on last edited by
                              #19

                              @jon-nyc said in Massie: This bill adds 20T to the debt over 10 years.:

                              @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                              Pssst, it’s not the entitlements…

                              https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                              This is really disingenuous. The ticking time bomb that are entitlements won’t actually explode for a decade ergo it’s not the problem.

                              Zero out everything he mentions and entitlements still bankrupt us before Finley graduates college.

                              Yeah, remind me again who has been calling for a removal of the FICA caps and a .5% FICA increase?

                              The Brad

                              jon-nycJ 1 Reply Last reply
                              • LuFins DadL Offline
                                LuFins DadL Offline
                                LuFins Dad
                                wrote on last edited by
                                #20

                                But everybody keeps forgetting about the upcoming 25% tariffs. That will take care of everything.

                                The Brad

                                1 Reply Last reply
                                • LuFins DadL LuFins Dad

                                  @jon-nyc said in Massie: This bill adds 20T to the debt over 10 years.:

                                  @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                                  Pssst, it’s not the entitlements…

                                  https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                                  This is really disingenuous. The ticking time bomb that are entitlements won’t actually explode for a decade ergo it’s not the problem.

                                  Zero out everything he mentions and entitlements still bankrupt us before Finley graduates college.

                                  Yeah, remind me again who has been calling for a removal of the FICA caps and a .5% FICA increase?

                                  jon-nycJ Online
                                  jon-nycJ Online
                                  jon-nyc
                                  wrote on last edited by
                                  #21

                                  @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                                  @jon-nyc said in Massie: This bill adds 20T to the debt over 10 years.:

                                  @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                                  Pssst, it’s not the entitlements…

                                  https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                                  This is really disingenuous. The ticking time bomb that are entitlements won’t actually explode for a decade ergo it’s not the problem.

                                  Zero out everything he mentions and entitlements still bankrupt us before Finley graduates college.

                                  Yeah, remind me again who has been calling for a removal of the FICA caps and a .5% FICA increase?

                                  Me.

                                  Only non-witches get due process.

                                  • Cotton Mather, Salem Massachusetts, 1692
                                  LuFins DadL 1 Reply Last reply
                                  • HoraceH Online
                                    HoraceH Online
                                    Horace
                                    wrote on last edited by
                                    #22

                                    I think everybody on this board has been in favor of a removal of the SS cap.

                                    Education is extremely important.

                                    LuFins DadL 89th8 2 Replies Last reply
                                    • jon-nycJ jon-nyc

                                      @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                                      @jon-nyc said in Massie: This bill adds 20T to the debt over 10 years.:

                                      @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                                      Pssst, it’s not the entitlements…

                                      https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                                      This is really disingenuous. The ticking time bomb that are entitlements won’t actually explode for a decade ergo it’s not the problem.

                                      Zero out everything he mentions and entitlements still bankrupt us before Finley graduates college.

                                      Yeah, remind me again who has been calling for a removal of the FICA caps and a .5% FICA increase?

                                      Me.

                                      LuFins DadL Offline
                                      LuFins DadL Offline
                                      LuFins Dad
                                      wrote on last edited by
                                      #23

                                      @jon-nyc said in Massie: This bill adds 20T to the debt over 10 years.:

                                      @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                                      @jon-nyc said in Massie: This bill adds 20T to the debt over 10 years.:

                                      @LuFins-Dad said in Massie: This bill adds 20T to the debt over 10 years.:

                                      Pssst, it’s not the entitlements…

                                      https://budget.house.gov/press-release/op-ed-wall-street-journal-welfare-is-whats-eating-the-budget

                                      This is really disingenuous. The ticking time bomb that are entitlements won’t actually explode for a decade ergo it’s not the problem.

                                      Zero out everything he mentions and entitlements still bankrupt us before Finley graduates college.

                                      Yeah, remind me again who has been calling for a removal of the FICA caps and a .5% FICA increase?

                                      Me.

                                      Here’s one of mine - https://nodebb.the-new-coffee-room.club/post/328667

                                      Show me one of yours.

                                      The Brad

                                      1 Reply Last reply
                                      • HoraceH Horace

                                        I think everybody on this board has been in favor of a removal of the SS cap.

                                        LuFins DadL Offline
                                        LuFins DadL Offline
                                        LuFins Dad
                                        wrote on last edited by
                                        #24

                                        @Horace said in Massie: This bill adds 20T to the debt over 10 years.:

                                        I think everybody on this board has been in favor of a removal of the SS cap.

                                        Ahhh, but a FICA increase as well?

                                        The Brad

                                        1 Reply Last reply
                                        • HoraceH Horace

                                          I think everybody on this board has been in favor of a removal of the SS cap.

                                          89th8 Offline
                                          89th8 Offline
                                          89th
                                          wrote on last edited by
                                          #25

                                          @Horace said in Massie: This bill adds 20T to the debt over 10 years.:

                                          I think everybody on this board has been in favor of a removal of the SS cap.

                                          Speak for yourselves! I make $2 million per year and have no need to pay social security after the first $175k... aka what I call January's paycheck.

                                          AxtremusA 1 Reply Last reply
                                          Reply
                                          • Reply as topic
                                          Log in to reply
                                          • Oldest to Newest
                                          • Newest to Oldest
                                          • Most Votes


                                          • Login

                                          • Don't have an account? Register

                                          • Login or register to search.
                                          • First post
                                            Last post
                                          0
                                          • Categories
                                          • Recent
                                          • Tags
                                          • Popular
                                          • Users
                                          • Groups