Debt ceiling: here we go AGAIN

#26
#26
lawgator1 said:
How does a company have emergency funds for the pandemic? And $25 million of it?

How can Trump tax cuts = stock offerings to managers?

Something doesn't add up.
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We didn't have emergency funds. We have funds . How's that difficult? Where you struggle is to understand for recruiting talent has been tough for years . This is how you do it. You just think the CEO takes the tax break as a bonus. Extra money in tax savings went to people. That challenges your whole existence I know .

Are you stupid? Our CEO said as a result of these breaks we will do x for these positions .
 
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#27
#27
lawgator1 said:
How does a company have emergency funds for the pandemic? And $25 million of it?

How can Trump tax cuts = stock offerings to managers?

Something doesn't add up.
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Not all sectors got hit by the pandemic. Some actually grew.

I am guessing they have a profit sharing plan where there is a baseline and anything over the baseline is paid on some ratio to certain level employees as stock. Due to less taxes the net base line was higher therefor stock was offered.
 
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#29
#29
NEO said:
Not all sectors got hit by the pandemic. Some actually grew.

I am guessing they have a profit sharing plan where there is a baseline and anything over the baseline is paid on some ratio to certain level employees as stock. Due to less taxes the net base line was higher therefor stock was offered.
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Exactly. Many restaurants, grocery, and retail businesses actually grew. More self employed opportunities became available and actually helped many people get ahead. Also many servers and delivery drivers were receiving better tips during this time. Of course you still have your people that sadly don't tip or tip a very small amount.

Unfortunately many places have been understaffed during this time. But much respect should be given to those who stuck it out. That's why I'm understanding if I have to wait just a little longer on my food.

Many insurance and financial professionals switched to telesales and Zoom to make their presentations. And many were just as successful or even more successful during this time.

It's not been the end of the world and opportunities are out there for people if they just try.
 
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#30
#30
lawgator1 said:
No, that's not my only "grievance." I'm saying I don't understand the posturing under these circumstances.

But setting that aside I asked abiut this idea of permanently creating a mechanism to avoid the ceiling but tie it to mandatory reductions in deficits. I'm for decreased spending to the lower class programs and for increased taxes on the wealthy.

Promote the middle class.
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Increasing the debt ceiling has nothing to do with the middle class other than those are the individuals who get hammered by increasing inflation and taxes, it's a fundamental misunderstand from the Left in that the government fosters the middle class. It doesn't and if anything it penalizes it through taxes and spending. The wealthy can afford to find ways to get around high taxes and the poor pay few if any taxes. It's a basic misunderstanding about the role of government
 
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#31
#31
lawgator1 said:
The Dems reward their constituents with more social service spending. The GOP rewards their constituency with more tax breaks.

Don't pretend like one has moral authority in this issue. Just flip sides of the same coin and the same result: More debt.
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I thought GOP voters were all dumb, broke hillbilly idiots with low paying jobs?

Wouldn't tax breaks benefit them along with all the other people in that basket?
 
#32
#32
lawgator1 said:
A few thoughts based on a few different scenarios:

1) What is McConnell's opposition to a stand alone debt ceiling measure? Seems like he is saying no to even that because he is trying to prevent passage of the large spending bill. If it was stand alone, it's pretty irresponsible to block it.

2) There has been talk of a measure that would permanently deal with the debt ceiling but tie it to mandatory deficit reduction. That sounds like a reasonable starting point. But both sides arguably hate it because when it's their turn to pay off their constituents with either spending or tax cuts they don't want to be ham-strung.

3) Seems like a really, really bad time to be playing this game.

In the end I am sure they will pass it. But the posturing back and forth seems pointless and costly to me.
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This is the problem. You are talking about a massive spending bill but at the same time talking about living within a budget.

Instead of finding $3 trillion in more spending, we need to start looking for cuts in spending...
 
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#36
#36
Grand Vol said:
I thought GOP voters were all dumb, broke hillbilly idiots with low paying jobs?
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A significant portion are. They get duped into believing that tax cuts are really helping them a lot by the social issue warriors on Fox, who when off air laugh at them for their ignorance.
 
#37
#37
lawgator1 said:
A significant portion are. They get duped into believing that tax cuts are really helping them a lot by the social issue warriors on Fox, who when off air laugh at them for their ignorance.
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So the data on tax cuts is wrong? Or is it fake?
 
#42
#42
lawgator1 said:
A significant portion are. They get duped into believing that tax cuts are really helping them a lot by the social issue warriors on Fox, who when off air laugh at them for their ignorance.
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I can assure you the tax cuts resulted in net positive a few thousand dollars in our pockets even with the new SALT cap. No, I’m not interested in giving it back to the incompetent wasteful assholes.
 
#44
#44
lawgator1 said:
When the money is used to expand and produce, not simply for buy backs and insane executive compensation.
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Individuals are using their middle class tax cuts to buy back stock and increase exec compensation? That seems like a strange use of funds
 
#45
#45
utvolpj said:
Individuals are using their middle class tax cuts to buy back stock and increase exec compensation? That seems like a strange use of funds
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No, but you are delusional if you think that's where the tax cuts were focused.
 
#46
#46
lawgator1 said:
No, but you are delusional if you think that's where the tax cuts were focused.
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Didn't really matter when it helps the middle class (which you claim didn't happen). When those cuts actually add to the revenue and increase the economy. Spending is the issue

You seem worried about corp taxes which aren't paid by corps anyways.
 
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#47
#47
utvolpj said:
Didn't really matter when it helps the middle class (which you claim didn't happen). When those cuts actually add to the revenue and increase the economy. Spending is the issue

You seem worried about corp taxes which aren't paid by corps anyways.
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Spending is a huge part of the debt issue.

Is there some sort of bomb strapped to your body that will go off if you admit that maybe there are some unwise or undeserved tax breaks and loopholes that the wealthy have created for themselves which are also a part of the problem?

Do we need to call 911 for you?
 
#48
#48
So why don't the Dems just pass it? They have enough votes. They would pass a 3.5T bill by themselves if they could but a couple of their own don't support it.
 
#50
#50
lawgator1 said:
Spending is a huge part of the debt issue.

Is there some sort of bomb strapped to your body that will go off if you admit that maybe there are some unwise or undeserved tax breaks and loopholes that the wealthy have created for themselves which are also a part of the problem?

Do we need to call 911 for you?
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It's also "unwise", I like to call it complete stupidity, for nearly half the country to have no skin in the game wrt to paying federal income tax. Why do you think those tax loopholes/breaks are built into the tax code? Do away with the federal income tax, go all consumption tax and cut the budget YUGE.
 
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