Coming back to this just to comment on how stupid such a comment is. Deficits aren't bad by themself. Its the government, not a business. On occasion the government's job is to keep the country going. Like during a war, or natural disaster. During Covid the goverment needed to keep the economy and social nets going. The only real way to do that is to run a deficit. Stupid quotes
How about a law that says if there's a deficit, the difference must come from those with 100 million in assets or more. How about that Mr. Fuckface Billionaire?
My solution for the "fiscal cliff" bullshit is simple too. Pass a law that says (in one half) if a budget is not agreed upon 60 days before the deadline, Congresspeople do not receive salaries until one is passed. While I realize, they are rich as fuck off insider trading and bribes/lobbying, the OTHER HALF says that their STAFF stop receiving salaries if a budget is not passed 30 days before the deadline. I guaran-fuckin-TEE you we'd never have another shut down. EVER.
Upvoted in hopes some day people will be free to vote for who best represents them. Getting rid of First Past the Post voting (the electoral system most states use) will allow people to freely vote 3rd party if they wish with no chance for a spoiler effect. This would introduce competition into the electoral process, improving the quality of candidates available for everyone. Plus it would encourage more people to vote and be involved in politics. Peace yall
We should be able to vote for who best represents us, assured that our vote is still cast against those we don't want in office. We can do this one state at a time. Even yours!
Similarly, prosecute business owners every time you find and arrest illegal workers. It’ll never happen, because businesses rely on exploiting illegals to maximise profit…
Unsurprisingly the predatory investment banker doesn’t mention taxing the rich and corporations, or plugging loopholes where the ultra rich pay little to no taxes… he mentioned this fucking stupid idea… Like fucker, they’re literally doing what you tell them to do, will the wall street lobbyists also get kicked out? Shut the fuck up.
If a deficit means they're ineligible for re-election, the response will not be no deficit - it will be higher taxes and further cutting of necessary programs.
What we need are fairer taxes - the billionaires very much aren't paying their fair share.
That would help, but the key words in the post were "end the deficit" - not "end corruption".
Lots of governments legitimately run in a deficit on purpose at times - wartime being a classic example, or other times of depression where it's better to go into debt rather than let people die.
Our current government is corrupt and increasing the deficit to put money in the hands of the rich, not for a good purpose, so accountability would help, absolutely.
The problem is two-fold. Yes, rich people need to pay their taxes. But you also need to make sure the government is being responsible with that money. Putting their eligibility for re-election on the line incentivizes them to not only be responsible, but make sure the rich are paying their fair share.
These people are DESPERATE to hold onto their seats and stay in power for as long as humanly possible - if that requires actually fixing the budget and finances, they will fix it.
What's astounding is that if you look at that tax rate through the 90's and today in comparison to worker's rights and wages, you'll see that their tax goes down, worker rights go down, and wages stagnate. Beginning from the 30's with the Fair Labor Act and the NLRA being when they were taxed the most and people could buy a house with $30 and a bag of marbles.
Yes. And it pushed the wealthiest to invest in their companies rather than have an intensive to siphon funds as wages into their own pockets. It's why workers had wages that rose with the success of the company. It was the formation of the blue collar middle class. Once that tax rate went away the few owners just collected more for themselves and took steps to drive profits higher and higher for their sole benefit. Culminating in the out sourcing of millions of American jobs.
This is a bit of a miss. Corps stopped raising wages when the company succeeded because Regan made stock buybacks legal. This allowed executives to sneakily boost their own payouts while claiming it helps everyone who is invested.
The 90% tax rates on upper brackets did help keep the wealth gap in check, but stock buybacks are a much larger part of the lack of wage growth.
The ability to handle it is meaningless if you have no intention of fixing it, and just dangle a solution over people's heads like a carrot each election. The current situation is an incentive not to fix it.
This solution is just yet another way to eliminate the government's ability to function, handing yet more power to greedy scum like Mr. Slumlord this is quoting. Seriously, this is just a roach saying banning roach spray is good for the environment.
They don't anyway, and we didn't have constant recessions before the upper tax brackets were cut. Reaganomics caused most of the problems we have today. We had a national debt of 0.5 trillion when Reagan took office, now it's 38 trillion and will probably be 45 trillion by the time Trumps out.
Orrrrrrr you could just properly tax the wealthy. I dont know why they keep coming up with schemes when the solution has existed since the creation of democracy.
The knee jerk "this is good" reactions are why we have fuckwits in office. Deficits aren't bad by themselves. This also assumes surpluses are always good. It might be a shocker but the government isn't a business. Government's job is to keep the country and its people safe, sometimes in times of crises. During a war or natural disaster the government might need to keep things like social services going for those that lost everything, that might need a deficit.
Any option that tells voters they can’t choose their representative should be seen as a non-starter.
Term limits is another thing that gets knee-jerk support, but all it accomplishes is empowering lobbyists and special interests, and all you really get in return is what, a few assholes get tossed?
And how do you think they will accomplish that? It'll be by cutting healthcare, social security and services, not by raising taxes/closing tax loopholes on the rich and on corporations. Indeed, that's the conservative playbook, reduce taxes on the rich and corporations, thereby increasing the deficit, and then use that as an excuse to cut the things our taxes should be going towards.
Your 100% correct. Im just saying slow down and find like minded people. Never in the history of history has a radical regime been removed from office democraticly. They are already telling our military not to follow illegal orders. What's next friend?
South Korea's effectively-a-military-regime was forced to give up by the 1987 June Struggle protests. Chile's military dictatorship fell when enough of the people got sick of Pinochet's shit and told him that they were not giving him another term in 1988.
Do not assume that the Trump regime will go quietly, because make no mistake, those were exceptions, not the rule - but don't *entirely* give up hope that there might be a possibility of avoiding civil war either.
The Gubermint created the money, my man. It can just make it out of thin air. There are trade-offs for that. And there are better and worse times to borrow.
This is why we have a Fed full of PhD economists and not just vibeposters calling the shots.
Countries' finances don't work exactly like a private household, and anyone who tells you they are or that they should is dumb, trying to swindle the electorate (or both).
The Congress is made of people, and the people currently making up Congress have no interest in doing this. Mark MY words, You can't just say "Congress will eventually" anything, because Congress isn't one thing. All 435 house seats are up for election every two years, but we've already seen what happens when the house impeaches Trump with the Senate that does nothing. We have to wait for more than half of the Senate to be replaced, and only 1/3 of those get replaced every two years.
By the time enough people have been replaced in the house and Senate so that there's the possibility of doing literally ANYTHING USEFUL, much less getting an impeachment and conviction, It will be far too late to actually do any good to stop the current president. And that's assuming we even get the right people to run, and then get elected in the first place. Which I'm really not so sure is possible to get enough seats filled in the next 6 years from enough states.
Yeah naw, they'll only do it when he's no longer of any use, which is WELL after too much damage is done, then they'll replace him with an even more obedient puppet. The only thing that can help then (barring, you know.......) would be his absolute black hole of charisma or an inner civil war for the power and influence.
knowmynameyoudonot9000
Now pay your company taxes.
Mr21782Man
Coming back to this just to comment on how stupid such a comment is. Deficits aren't bad by themself. Its the government, not a business. On occasion the government's job is to keep the country going. Like during a war, or natural disaster. During Covid the goverment needed to keep the economy and social nets going. The only real way to do that is to run a deficit. Stupid quotes
Groovechild
This is akin to "How to have a million dollars and never pay taxes. Step 1: get a million dollars..."
NZSheeps
CelestialSea
How about a law that says if there's a deficit, the difference must come from those with 100 million in assets or more. How about that Mr. Fuckface Billionaire?
oldguyexlurker
My solution for the "fiscal cliff" bullshit is simple too. Pass a law that says (in one half) if a budget is not agreed upon 60 days before the deadline, Congresspeople do not receive salaries until one is passed. While I realize, they are rich as fuck off insider trading and bribes/lobbying, the OTHER HALF says that their STAFF stop receiving salaries if a budget is not passed 30 days before the deadline. I guaran-fuckin-TEE you we'd never have another shut down. EVER.
GeneralPrower
Better idea:
All members of Congress are ineligible for re-election. Full stop.
ExplainsTheReasoningBehindHowHeVotes
Upvoted in hopes some day people will be free to vote for who best represents them. Getting rid of First Past the Post voting (the electoral system most states use) will allow people to freely vote 3rd party if they wish with no chance for a spoiler effect. This would introduce competition into the electoral process, improving the quality of candidates available for everyone. Plus it would encourage more people to vote and be involved in politics. Peace yall
ExplainsTheReasoningBehindHowHeVotes
Interested in a video on First Past The Post voting?
https://www.youtube.com/watch?v=s7tWHJfhiyo native v">tch?v=s7tWHJfhi>
Alt">native v">tch?v=s7tWHJf">yo <">>
Alt">native v">tch?v=s7tWHJfhiyo <br>
Alternative voting systems: https://www.youtube.com/watch?v=e3GFG0sXIig https://www.youtube.com/watch?v=l8XOZJkozfI https://www.youtube.com/watch?v=3-mOeUXAkV0 https://www.youtube.com/watch?v=3Y3jE3B8HsE
We should be able to vote for who best represents us, assured that our vote is still cast against those we don't want in office. We can do this one state at a time. Even yours!
gsmdo
Similarly, prosecute business owners every time you find and arrest illegal workers.
It’ll never happen, because businesses rely on exploiting illegals to maximise profit…
inkswitch11
Well buy more congressman and do it
deadlywolf04
Unsurprisingly the predatory investment banker doesn’t mention taxing the rich and corporations, or plugging loopholes where the ultra rich pay little to no taxes… he mentioned this fucking stupid idea… Like fucker, they’re literally doing what you tell them to do, will the wall street lobbyists also get kicked out? Shut the fuck up.
MioTaalas
He's a fucking ass, but this is correct.
LeekofLegend
I remember back when I thought he was one of the shittiest people to deal with. Thanks for opening my eyes, Trump and co.
cjpoet
Or you fucking billionaires could pay a fair tax rate.
ByThePowerOfSCIENCE
he's actually for it: https://theguardian.com/business/2011/aug/15/warren-buffett-higher-taxes-super-rich
2Soon4Baboon
Yes.. let's trust the slave master on how to fix slavery.
evilspock
If a deficit means they're ineligible for re-election, the response will not be no deficit - it will be higher taxes and further cutting of necessary programs.
What we need are fairer taxes - the billionaires very much aren't paying their fair share.
AShartInTheWind
What we NEED is no billionaires. We have the means to achieve that, it's just that too many people are busy being racist or supporting the status quo.
elecvette
No sir. What we need is some/any accountability. Period.
evilspock
That would help, but the key words in the post were "end the deficit" - not "end corruption".
Lots of governments legitimately run in a deficit on purpose at times - wartime being a classic example, or other times of depression where it's better to go into debt rather than let people die.
Our current government is corrupt and increasing the deficit to put money in the hands of the rich, not for a good purpose, so accountability would help, absolutely.
BlazeMarshall
The problem is two-fold. Yes, rich people need to pay their taxes. But you also need to make sure the government is being responsible with that money. Putting their eligibility for re-election on the line incentivizes them to not only be responsible, but make sure the rich are paying their fair share.
These people are DESPERATE to hold onto their seats and stay in power for as long as humanly possible - if that requires actually fixing the budget and finances, they will fix it.
BlazeMarshall
The problem is getting such a law passed in the first place. It will never happen, because they're the ones CAUSING those problems in the first place.
InfocalypseRising
Warren Buffett says things like this because he knows they will never happen.
androgenoide
It's not a bad response to someone who thinks the debt is the biggest problem though.
FlyingInABlueDream
Every complex problem has a solution that is clear, simple, and wrong
duktayp
Some 80 years ago; the Richer people got, the more we taxed them. Unfortunately today, these rich people are now IN the legislative branch https://inequality.org/article/tax-the-rich-we-did-that-once/
nation543
What's astounding is that if you look at that tax rate through the 90's and today in comparison to worker's rights and wages, you'll see that their tax goes down, worker rights go down, and wages stagnate. Beginning from the 30's with the Fair Labor Act and the NLRA being when they were taxed the most and people could buy a house with $30 and a bag of marbles.
quelin
Yes. And it pushed the wealthiest to invest in their companies rather than have an intensive to siphon funds as wages into their own pockets. It's why workers had wages that rose with the success of the company. It was the formation of the blue collar middle class. Once that tax rate went away the few owners just collected more for themselves and took steps to drive profits higher and higher for their sole benefit. Culminating in the out sourcing of millions of American jobs.
somerandomusernamething
This is a bit of a miss. Corps stopped raising wages when the company succeeded because Regan made stock buybacks legal. This allowed executives to sneakily boost their own payouts while claiming it helps everyone who is invested.
The 90% tax rates on upper brackets did help keep the wealth gap in check, but stock buybacks are a much larger part of the lack of wage growth.
quelin
and both couldnt happen without the other.
Kalli
So you've just ended the ability for the government to pass any significant project, or handle any kind of recession, great job
REOJackwagon
The ability to handle it is meaningless if you have no intention of fixing it, and just dangle a solution over people's heads like a carrot each election. The current situation is an incentive not to fix it.
Kalli
This solution is just yet another way to eliminate the government's ability to function, handing yet more power to greedy scum like Mr. Slumlord this is quoting. Seriously, this is just a roach saying banning roach spray is good for the environment.
MrSpookywasagoodboy2
They don't anyway, and we didn't have constant recessions before the upper tax brackets were cut. Reaganomics caused most of the problems we have today. We had a national debt of 0.5 trillion when Reagan took office, now it's 38 trillion and will probably be 45 trillion by the time Trumps out.
HandsomePenguin
Orrrrrrr you could just properly tax the wealthy. I dont know why they keep coming up with schemes when the solution has existed since the creation of democracy.
ByThePowerOfSCIENCE
that's actually one thing he's been going on about: https://www.theguardian.com/business/2011/aug/15/warren-buffett-higher-taxes-super-rich
Mr21782Man
The knee jerk "this is good" reactions are why we have fuckwits in office. Deficits aren't bad by themselves. This also assumes surpluses are always good. It might be a shocker but the government isn't a business. Government's job is to keep the country and its people safe, sometimes in times of crises. During a war or natural disaster the government might need to keep things like social services going for those that lost everything, that might need a deficit.
wadatahmydamie
Any option that tells voters they can’t choose their representative should be seen as a non-starter.
Term limits is another thing that gets knee-jerk support, but all it accomplishes is empowering lobbyists and special interests, and all you really get in return is what, a few assholes get tossed?
Skyff
And how do you think they will accomplish that? It'll be by cutting healthcare, social security and services, not by raising taxes/closing tax loopholes on the rich and on corporations. Indeed, that's the conservative playbook, reduce taxes on the rich and corporations, thereby increasing the deficit, and then use that as an excuse to cut the things our taxes should be going towards.
elecvette
Don't be angry, your obviously intelligent, Organize.
johnblood616
You're*
Skyff
I'm just saying harping on about the deficit benefits only the conservative playbook. It's what they want to justify obscene cuts to your welfare.
elecvette
Your 100% correct. Im just saying slow down and find like minded people. Never in the history of history has a radical regime been removed from office democraticly. They are already telling our military not to follow illegal orders. What's next friend?
Daliena06
South Korea's effectively-a-military-regime was forced to give up by the 1987 June Struggle protests. Chile's military dictatorship fell when enough of the people got sick of Pinochet's shit and told him that they were not giving him another term in 1988.
Do not assume that the Trump regime will go quietly, because make no mistake, those were exceptions, not the rule - but don't *entirely* give up hope that there might be a possibility of avoiding civil war either.
Everyonesfavorite
Let's just take theor health insurance!! Make them reapply for it within 10 business days every year like many of us get to do! FUN times!
hufflesnuff
Hey, if you eliminate the deficit without raising taxes, tens of millions of American will lose their health insurance too!
Everyonesfavorite
OR raise taxes on the top 2% of the us, that would provide what people need!
hufflesnuff
OP's post is of the 4th or 5th richest man in the world. He is not interested in paying taxes. He is interested in starving me and you.
Everyonesfavorite
He is a piece of shit, not an example of how to be rich. I'm sick of people glorifying people that don't know or care how to pay taxes.
JayDeeDubs
Deficit spending in and of itself is not always a bad thing, and in certain economic situations is actively good.
WellThatsOriginal
How much credit card debt do you have...lol
tacticus
Countries are not households.
hufflesnuff
It's not a credit card. It's a 30 year loan at 4.5%. Or a 3 year loan at 3.5%.
If inflation is higher than the interest rate, you can actually win by floating treasuries.
This is why it was smart to issue all the debt in 2021 when the interest rates were like a 30 year loan at 0%.
WellThatsOriginal
Is that what the government is doing with our money?
hufflesnuff
The Gubermint created the money, my man. It can just make it out of thin air. There are trade-offs for that. And there are better and worse times to borrow.
This is why we have a Fed full of PhD economists and not just vibeposters calling the shots.
WellThatsOriginal
It is sad that you are allowed to vote. The government does not "create" money. The government gets the money by taxing the citizens and/or tariffs.
quasarvoyager2
Plus if you spend it on useful infrastructure assets you add value and increase economic competitiveness.
JayDeeDubs
Countries' finances don't work exactly like a private household, and anyone who tells you they are or that they should is dumb, trying to swindle the electorate (or both).
WellThatsOriginal
Obviously. In a household we have to be accountable for our finances.
KingKrabvoldIV
What a childish response that basically proves them right.
WellThatsOriginal
As long as you think so
TheMoonBnuuy
ok but Congress has to pass that law. It can't be passed unilaterally by any one person...
dunkum09
modifying the requirements for election to congress probably requires a constitutional amendment, since the constitution is where those are defined.
PlausibleLies
Congress shouldn't be able to pass laws about itself; those should be national referendums.
Level21Magikarp
Put it on a national ballot and actually have the people vote on it en mass.
skibbyAU
Not an American yet, but isn’t that an executive order?
elecvette
And there's the rub. Own congress and scotus then end run the United States.
pr0t34n
That's not what Trump told me!
GenXHippie
You should question him always, even when he says “a” and “the”.
TheMoonBnuuy
Congress will eventually put him against the wall, mark my words
Alurkerforcedtologin
The Congress is made of people, and the people currently making up Congress have no interest in doing this. Mark MY words, You can't just say "Congress will eventually" anything, because Congress isn't one thing. All 435 house seats are up for election every two years, but we've already seen what happens when the house impeaches Trump with the Senate that does nothing. We have to wait for more than half of the Senate to be replaced, and only 1/3 of those get replaced every two years.
Alurkerforcedtologin
By the time enough people have been replaced in the house and Senate so that there's the possibility of doing literally ANYTHING USEFUL, much less getting an impeachment and conviction, It will be far too late to actually do any good to stop the current president. And that's assuming we even get the right people to run, and then get elected in the first place. Which I'm really not so sure is possible to get enough seats filled in the next 6 years from enough states.
TheMoonBnuuy
that black pill taste good?
Alurkerforcedtologin
toolzgalore2
*taps foot impatiently* any day now...
TheMoonBnuuy
yeah I get that... it'll happen, but not fast enough, never fast enough
Mirrormancer
Yeah naw, they'll only do it when he's no longer of any use, which is WELL after too much damage is done, then they'll replace him with an even more obedient puppet. The only thing that can help then (barring, you know.......) would be his absolute black hole of charisma or an inner civil war for the power and influence.