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Comment on Affluent Americans are driving US economy and likely delaying need for Fed rate cuts - KESQ

wintermute_oregon@lemm.ee ⁨6⁩ ⁨months⁩ ago

This president has been one of the worst. The last president who really did a decent job with spending was Clinton. Otherwise, they have all spent more than they brought it.

The Democrats want you to believe if the top 5% paid more then all our problems would be solved. It wouldn’t. We spend too much as a country. The only way to tax our way our of it is everyone pays their fair share and stop expecting 5% to pay the bulk of the taxes. The top 5% pays the bulk of the taxes far larger than their income.

You can tax your way out of stupid spending.

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BobaFuttbucker@reddthat.com ⁨6⁩ ⁨months⁩ ago
The current president also reduced the spending of the federal government from the level the previous administration had brought it to.

I’m happy with how the situation has improved over the last 3 years. It could have been better, but the downward spending trend is welcome.

Im more upset that he led bipartisan congressional action to end the rail worker strike for demanding safer conditions and fair wages, increased defense spending and completely punted the infrastructure issue.

It’s not just a spending problem. There are also problems with the tax code itself, loopholes the rich can use to reduce their tax contributions, military overspending, IRS audits not being done on the richest who are overestimating their debt and underestimate their assets, and so many other problems that are not specific to whatever president we currently have.

Fact is, we could do to reduce spending but even taxing the wealthiest just a little more and putting a stop to some of the techniques used to minimize their tax burden would itself be enough to meaningfully pay down the national debt, and probably fund other social benefits as well.

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- wintermute_oregon@lemm.ee ⁨6⁩ ⁨months⁩ ago
  
  It’s not just a spending problem. There are also problems with the tax code itself, loopholes the rich can use to reduce their tax contributions, military overspending, IRS audits not being done on the richest who are overestimating their debt and underestimate their assets, and so many other problems that are not specific to whatever president we currently have.
  
  A lot of wrongness in this. There are no loopholes. The system is designed the way it is. Don’t ever think it was a mistake.
  
  We don’t overspend on the military. We are slightly above our NATO commitment.
  
  IRS audits the wealthy, guess what, when you hire a lawyer and account to do your taxes they are often accurate.
  
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  - BobaFuttbucker@reddthat.com ⁨6⁩ ⁨months⁩ ago
    
    There are no loopholes. The system is designed the way it is. Don’t ever think it was a mistake.
    
    Those are the loopholes ;)
    
    We don’t overspend on the military. We are slightly above our NATO commitment.
    
    ….which is based on our current spending. We spend more than the next 3 countries combined and continually raise the budget. Democrat AND Republican Presidents both do this.
    
    IRA audits the wealthy
    
    Well they’re trying, but thanks to the budget cuts both by the former president AND current House, they can’t go after all of them :(
    
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