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Death to the Budget Doomers: BB Bill and Doge Recisions


               
2025 May 29, 2:55pm   2,345 views  83 comments

by TheAntiPanicanLearingCenter   follow (9)  

When you hear the doomers talk about the debt and deficits, remember not one of them are taking into consideration any of the 3 following revenue streams

1. Tariffs
2. Doge savings (not cuts but the savings being enacted with things like layoffs and productivity increases with IT, selling of real estate, canceling graft contracts, etc.) and actual cuts like NPR and USAID.
3. Savings with drug prices from Trump's drug EO

Nor are these other potential revenue streams being considered:
4. Gold card
5. Permits
6. Increased tax revenue on energy
7. Increased tax revenue from economic activity.

https://x.com/unseen1_unseen/status/1928173042913390832

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1   beershrine   2025 May 29, 3:35pm  

How about a cyber coin tax? Digital currency is not money but a risky ponzi investment.
2   TheAntiPanicanLearingCenter   2025 May 29, 3:38pm  

Love it. All financial instruments should have a federal tax. After all, if you pay a sales tax for buying a book, pink lawn flamingo, or bag of concrete mix, why not a sales tax on financial instruments?
3   SharkyP   2025 May 30, 4:23am  

Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.
4   WookieMan   2025 May 30, 5:01am  

SharkyP says

Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.

Agree, but with Crypto I'd be fine with it. It does nothing but benefit the people that gamble and there are no employees. Sure there are exchanges, but that's mainly a few coders that make sure their sites work and an overpaid CEO (or think Wolf of Wall Street). No one would lose sleep if that costs them their jobs. Plenty of other places to work in that field.

I definitely would NOT want to double tax productive companies that produce thousands of jobs, move goods, physical locations, etc that are publicly traded.
5   RWSGFY   2025 May 30, 6:32am  

And just like that true conservatives fell in love with MOAR taxes.
6   AD   2025 May 30, 7:41am  

.

CBO is projecting the deficit for 2025 will be $1.9 trillion, which is the same as Birdbrain Biden's 2024 deficit.

This will be the first time since 2000 that the deficit did not increase (at least when adjusting for inflation).

.
7   Patrick   2025 May 30, 8:24am  

Tariffs and Georgist land value taxes can provide all the revenue we need without any income or sales taxes.
8   TheAntiPanicanLearingCenter   2025 May 30, 6:00pm  

SharkyP says


Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.

Depends. You don't pay taxes on appreciation until you sell the stock. Many stocks don't pay dividends at all.

BUT, you pay sales tax on a bag of concrete mix though you already paid Income Tax, SS/MC withholds, etc. on the income you used to buy the concrete.

So why not pay sales tax on a bag of financial instruments as well?

That's the problem I have with "Double Taxation" - it only seems to be a problem with money making money, but ignored when it's labor exchanged for money.
9   mell   2025 May 31, 1:04pm  

AmericanKulak says

SharkyP says



Doesn’t seem right to tax stock purchases. You already are paying a tax on profits. That would mean double taxation.

Depends. You don't pay taxes on appreciation until you sell the stock. Many stocks don't pay dividends at all.

BUT, you pay sales tax on a bag of concrete mix though you already paid Income Tax, SS/MC withholds, etc. on the income you used to buy the concrete.

So why not pay sales tax on a bag of financial instruments as well?

That's the problem I have with "Double Taxation" - it only seems to be a problem with money making money, but ignored when it's labor exchanged for money.

I consider it double taxation as well. But really if you just charged a flat income tax as low as possible (after other avenues are exhausted) that would work better than artifical transaction fees (in a digital world where most transactions are close to free in cost).
12   Ceffer   2025 Jun 3, 2:11pm  

Bankrupt is bankrupt. At some point, the bankruptcy has to be managed. In the meanwhile, there is really no point to NOT extending the credit to its stretching limits to keep the corporate zombie lurching forward.

Kicking the can down the road, or just collapsing the Babylonian bubble later while exploiting it now?

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