Kind of disagree, that is a semantics argument of: "it can't possibly be a cut, because we absolutely have to pay it (deficit) back".
Not really. Bottom line: when I pay less taxes, it is a tax cut. What if the world blew up? The US defaults? My state secedes? The notion that 'the only possible outcome is I pay it back' is just inaccurate. The only actual thing, that actually happened, is I immediately paid less taxes (ie, a tax cut).
I'm much more happy that I'm paying less money now, and the onus is now on government to try to take people's money away again.
All good man :). Happy to be on a lively discussion forum haha
I definitely understand the point: In a very pragmatic, individualistic, sense - you can't magic money out of thin air. It seems to work very different for nations lol (and, yes - there are tons of issues there too).
Not to be a complete downer, but we're 26.6 trillion in debt already; 136% debt to GDP. We've ran trillion dollar deficits for an entire decade; since 2010. This is clown world. No one even thinks it's possible to run a balanced budget (in Congress, anyways), what the hell are people doing???
-So, me and a good number of other people have effectively came to the realization: this debt is not going to be repaid. It will be defaulted on, either outright or nominally via inflation. People should prepare accordingly.
But, back in regards to my point: effectively, in regards to the above: The US is going to default, period. I don't see how this payroll tax action is going to have any impact, really. The game is simply this, to me: give people their money back. 'Cuz they need it. And good luck trying to collect on the US debt from me ;-), I've got a one letter word: repudiation :).
Kind of disagree, that is a semantics argument of: "it can't possibly be a cut, because we absolutely have to pay it (deficit) back".
Not really. Bottom line: when I pay less taxes, it is a tax cut. What if the world blew up? The US defaults? My state secedes? The notion that 'the only possible outcome is I pay it back' is just inaccurate. The only actual thing, that actually happened, is I immediately paid less taxes (ie, a tax cut).
I'm much more happy that I'm paying less money now, and the onus is now on government to try to take people's money away again.
All good man :). Happy to be on a lively discussion forum haha
I definitely understand the point: In a very pragmatic, individualistic, sense - you can't magic money out of thin air. It seems to work very different for nations lol (and, yes - there are tons of issues there too).
Not to be a complete downer, but we're 26.6 trillion in debt already; 136% debt to GDP. We've ran trillion dollar deficits for an entire decade; since 2010. This is clown world. No one even thinks it's possible to run a balanced budget (in Congress, anyways), what the hell are people doing???
-So, me and a good number of other people have effectively came to the realization: this debt is not going to be repaid. It will be defaulted on, either outright or nominally via inflation. People should prepare accordingly.
But, back in regards to my point: effectively, in regards to the above: The US is going to default, period. I don't see how this payroll tax action is going to have any impact, really. The game is simply this, to me: give people their money back. 'Cuz they need it. And good luck trying to collect on the US debt from me ;-), I've got a one letter word: repudiation :).