I know math is complicated, but this isn’t: you cannot work your way out of debt by lowering your income. Doesn’t matter how much spending you cut, you have to increase your income if you hope to reduce your debt. Taxes are the government’s income. - ThreadSky

helena-hand-basket.bsky.social • 3 days ago

I know math is complicated, but this isn’t: you cannot work your way out of debt by lowering your income. Doesn’t matter how much spending you cut, you have to increase your income if you hope to reduce your debt. Taxes are the government’s income.

Reposted from Rogue Citizen One

In today's edition of we f*cking told you so...

The GOP’s latest budget proposal does not cut the deficit.

The plan would add TRILLIONS to the deficit by 2034, locking in tax cuts for the wealthy while slashing Medicaid and nutrition assistance.

1/

Comments

laura.direct•2 days ago

We desperately need progressive tax policy that goes after asset growth. The richest people can borrow and buy, grow their net worth, and repeat- without a tax event like cap gains or income.

We need a wealth tax to unrig the game and fund our society.

Here’s how I propose we do it:

55storm.bsky.social•3 days ago

Slimy, icky, nasty. GOP it’s like they turn into goo to please those behind the scenes that do the thinking then tell the he who will not be named after the nasty deed is done. Such small icky life’s they lead. History will tell on you

henrykarlson.bsky.social•2 days ago

part of it is that they want to add to the debt so as to make it impossible to reinstate the services they cut

dreamilylucid.bsky.social•2 days ago

🛑 insanity! The out of control government cuts enhancement for millionaires & billionaires is not going to be tolerated by the American sane people! The taxes we pay are to help all Americans not the ones who are in no need of more money! They are already in the highest earning yield bracket! 🛑STOP!

en4cer1514.bsky.social•2 days ago

Im glad someone is pointing that out. I've been saying it since Trump's first term.

warnsperger.bsky.social•2 days ago

NOTHING TRUMP DOES IS FOR THE BENEFIT OF THE AVERAGE AMERICAN. IT'S ONLY FOR THE RICH..

smooth53.bsky.social•2 days ago

The GOP not only kicks the can down the road they tie more cans to it. No being able to pay your bills isn’t solved by taking a lower paying job seems pretty basic?? Smoke and mirrors.

thegrayghost5.bsky.social•2 days ago

Of course it worsens the fiscal future. Do you really think that the Republicans give a shit. You didn't believe they were working to lower the Debt, did you? These people are out to seriously hurt this nation, and so far they're doing a good job👽

helena-hand-basket.bsky.social•2 days ago

I don’t believe a thing republicans ever say and I know their actual aim is naked corruption and open theft. Just pointing out that even if we pretend fiscal responsibility is their goal, their actions are counterproductive … and insane.

victorinini.bsky.social•2 days ago

A shithole has loads of turds in it.

sueb119.bsky.social•2 days ago

The fact that they want a 130 am meeting to cut Medicare and Medicaid is ridiculous and they won’t be there for long!

helena-hand-basket.bsky.social•2 days ago

satireisdead.bsky.social•2 days ago

They're raising taxes on the middle class through tariffs. That's the quiet part.

tammyshort.bsky.social•2 days ago

and your taxes are also going up.

helena-hand-basket.bsky.social•2 days ago

iawoodchuck.bsky.social•2 days ago

more obvious than ever

trucanpat.bsky.social•2 days ago

It's not about cutting the deficit! It's about cutting services where they can give to the rich to minimize the increase to debt ceiling

onrey.bsky.social•2 days ago

Here is what has happened with “tax cuts”. They took away all tax deductions that the poor could get and keep more of the money you pay into at the end of the year. Or you end up paying more because you didn’t pay enough through the year. That is no tax cut if you ask me in fact it’s a tax increase.

noraa73.bsky.social•2 days ago

I don’t know much about national debt, but you absolutely can pay off existing debt on a lower income. I’ve done it. You just need to manage your spending better. What makes you think the opposite is true?

treborheehaw.bsky.social•2 days ago

Your personal debt and the national debt are 2 completely different animals.

noraa73.bsky.social•2 days ago

Okay, fine. But explain to me why they are different. Explain why effective cost management can’t facilitate a lower national income and at the same time reduce debt? The OP implies that simple math can explain it but I really don’t get it.

helena-hand-basket.bsky.social•2 days ago

Did you go to your boss and demand a pay cut? Or quit your job and take up babysitting instead? No, because that would insane. If you want to quickly reduce a deficit, you seek ways to increase your income AND reduce spending. Which is what every Dem president since Nixon has done.

noraa73.bsky.social•2 days ago

You said: you cannot pay down debt on a lower income. I said: yes, actually, you can if you also reduce spending. You said: but bABysItTinG though!

😑

helena-hand-basket.bsky.social•2 days ago

No, I said you cannot reduce debt by lowering your income. Please reread the original post.

judgymcjudgerson.bsky.social•2 days ago

They think we can’t add

helena-hand-basket.bsky.social•2 days ago

And they know their base can’t.

ukbibi.bsky.social•2 days ago

It’s never been to cut deficit!

amberlink.bsky.social•2 days ago

This has nothing to do with math. This is just greed.

vcasey.bsky.social•2 days ago

Bleeding social programs dry all while blowing up the debt and starting a new arms race 💩😖🤡🤬

helena-hand-basket.bsky.social•2 days ago

Expletives fail me these days, too! 😡

vcasey.bsky.social•1 day ago

I SO can relate!! 🙈😖🥹 unbelievable the corruption and evil not to mention the silence of the G.reed O.ver P.eople
💩🤬💩🤬💩🤬💩🤬💩🤬

docbones.bsky.social•2 days ago

The fundamental misconception by most people is that they want to reduce spending. This is a red herring. They don’t want to reduce spending. They want to eliminate government, not make it better not make it more efficient, to strangle it. Dig it up and kill it, root and branch.

helena-hand-basket.bsky.social•2 days ago

Indeed 😊 But even if we play along and pretend they’re serious about achieving their stated goal, this is the stupidest way to try and do it.

t4gifeee1.bsky.social•2 days ago

There are really people who thought the GOP gives a flying fuck about the deficit?

helena-hand-basket.bsky.social•2 days ago

They’re the same people who think trump is smart and a successful businessman 😅

bob1958.bsky.social•2 days ago

All my life the deficit has only mattered when a Democrat was president

helena-hand-basket.bsky.social•2 days ago

And the only time we’ve ever lowered it.

geometricrazor.bsky.social•2 days ago

Services have been cut to everything... and STILL they cannot balance the budget.

But somehow... Trump found $175 billion to spend on new "Star Wars" toys?

The GOP is not serious when they speak of balancing a budget.

writeone.bsky.social•2 days ago

This Trump regime has to count using fingers…

stephaniebumpus.bsky.social•2 days ago

Dems get a job bringing in revenue, Repubs prefer to lay on the couch all day eating chips and living off of high-interest credit cards they don’t intend to ever pay back.

helena-hand-basket.bsky.social•2 days ago

*nods* They have always the real welfare queens!

liberteny.bsky.social•2 days ago

SPINELESS republicans have serious problems with math... this is why they are responsible of the US deficits... Just take a look at Trump's 1st term DEFICIT (8 trillion)
https://crfb.org/blogs/david-stockman-trump-30-trillion-debt-disaster

sickofthestupid.bsky.social•2 days ago

Plus, if you're really worried about debt and spending it's absolutely insane to raise the debt ceiling and completely dishonest to want it five trillion dollars higher than it is now.

helena-hand-basket.bsky.social•2 days ago

The debt ceiling only prevents the payment of our debt, not the approval of the spending before the fact. The debt ceiling only exists so republicans can hold us all hostage when they’re not in power.

sickofthestupid.bsky.social•2 days ago

The debit ceiling limits how much debt we can have. It's similar to the limit on your credit card. It restricts the total spending. If they're going to use revenue from spending cuts to pay debt they don't need to borrow more.

sickofthestupid.bsky.social•2 days ago

But they're cutting spending to pay for tax cuts. So they still need to borrow to pay for on-going costs and new spending. They can't just print money. What prevents the payment of debt is that they're spending money on tax cuts for the rich.

sickofthestupid.bsky.social•2 days ago

Hence the need to borrow more - although five trillion seems excessive.

angryoldman55.bsky.social•2 days ago

The Members Congress KNOW it. But they that most voters don't know the accounting.

bikeguy2024.bsky.social•2 days ago

Oppose MAGA TAX CUTS for the WEALTHIEST! Oppose MAGA cuts to essential healthcare for most vulnerable.

Vote every single conservative to the street!

decombest.bsky.social•2 days ago

Nobody told the GOP that tax revenue is our only profit center. If you cut taxes, or remove enforcement to allow cheating, our income goes down. And Drumpf's saying his tariffs will fix that problem by raising taxes on everyone?

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