Debt eh?

[k1114]

Continuing a discussion from another thread, sorry for the hijack again.

Well in these days of economic hardship and trying times within the world we live lets not think about spending more on less lets think about Economical and forget about spending more money on stuff America can no longer afford to buy both personally and on the federal level.

I see singling out America as racist. You also have your economics wrong. Spending money creates business revenue, more revenue results in business expansion, expansion results in more employees, more employees results in more spending money, and the cycle repeats itself. I'm not saying everyone should buy stuff they can't afford, debt is not the solution, but if people can afford luxuries then let them buy it. The government is a whole different case and I won't go into that. This forum section is about hardware help not economics, there's a separate section for that.

You dont want to include the whole world in Americas BS and i was using USA as a case in point because they are the most in debt Country in the world and how did they get there by over spending.Furthermore you cannot buy your way out of debt and this is the type of thing that got Americans into trouble in the first place.

Government and personal debt have nothing to do with each other. The US government may have the most debt but you need to look at debt relevant to their gdp. The US is not nearly in as bad as a situation as you think. Canada is ~84% debt vs the US at ~62%.

To simplify it for you, think of it as a person who makes more money can take out a bigger loan because they can afford it.

I was talking about overall debt including personal household debt and on the federal governmental levels combined and the big Corps walk with impunity unfortunately. however 16Trillion in overall for the states debt is allot more than Canada LOL as it should be with Canada population being less than L.A. and New york, Minnesota combined.The only GDP that the USA produces is DEBT.

Population size is irrelevant to gdp but let me illustrate how what you said doesn't make sense. 2 countries both with the same gdp. One has 1 population, the other has 1000 population. That 1 person is 1million in debt vs 1000million in debt of 1000 people combined. Who is worse off? Even though the debt is bigger it averages to the same per person so everyone is in the same situation in both countries.

So let's bring this back to real life numbers, Canada is ~84%, US is 62%, who is worse?

 

[Reynod]

Wrong.

The US has a taxation problem ... and a Govt spending (budget) problem.

Insufficient taxation controls created the problem and the unwillingness of successive administrations (political pressure) failed to address both the revenue (taxation) and the budget (spending).

 

[Reynod]

The lack of tax being paid by large corporations is the problem everywhere.

You cant spend more than you have ... so its taxation ... lack of it.

 

[wanamingo]

Whats the biggest expenditure for the US government? Or any "Industrialized" society? I would never want education privatized.

I still fail to see how lowering corporate taxes will affect unemployment, if some of the largest companies in the world are making a profit and still not hiring what will make them do so?

One of the commentators on the Daily Show said something like 50%-70% a politicians time is spend fundraising. Does this have something to do with politics coddling businesses?

People are losing their homes over unfair business practices while company CEO's pay has gone up 27% (I believe) in the last year. These aren't welfare baby bombs either they are the working poor (People with more than 1 full time job). If companies expect citizens to take the burden of the slumping economy then tell politicians we need more tax breaks (Or an extension of tax cuts) before they pursue practices that will actually benefit people*(hiring or wage increases); that sounds like a hostage situation. Or a Mexican standoff.

Raise the tax rate, or implement a working tax rate and use the money to teach our kids something useful. Making education affordable (Or...Free!) should be one of the most important things society should tackle.

 

[JAYDEEJOHN]

Asking for more, wherever it may come from, means less for the least of us, with varying results thruout the salary spectrum. Period
The average US adult has cut their debt by 3 or so percent since this all started, yet the government has increased by 20 plus percent.
Some are asking for even more for the government, which again, means even less for us.
The engine are the businesses, small and large.
Shrinking the engine wont help, and being as things are the way they are, that engine will maintain its current size.
Now, again, we keep hearing some asking more for the government, yet, besides criticism, those same people do nothing on increasing the size of the engine.
Folks, business is not our enemy, government makes no profit, and helping business seems the only logical solution, not any other way

 

[dogman_1234]

Taxes have been lowest in history,( thank FDR for a high tax rate there.)

Salaries of average Americans has been steady even after teh 50's and 60's.

CEO's have had a 20+ percent raise on their allowance.

The US has increased spending over revenue.

There is a revenue problem...the deficit eats it up.

We do have a spending problem...we spend too much on programs we don't need. I am not going to name the programs,( I will have a Rick Perry moment mind you,) we need to understand that in order to pay off 65 trillion dollars worth of obligations, we must figure out what is causing the problem...the main source of or troubles.

We have, as a nation, a 15+ trillion dollar debt. Actually, the government has a 50+ trillion dollar obligation to the people of the US.