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Re: really? not one thread about the health care bill yet?
There is an estimated 300 million people in this country, and I know we don't have 100 million illegal immigrants.
As I have stated on other sites, our debt is not something we continually pay back. Our debt works on a timeline. The more money we are in debt, the more time it takes for our government to pay back its loans, but they do eventually get paid back. It does sound bad, yes, but its not as though we never pay that debt off. We take in trillions a year in taxes, loans, things like that. What makes the national debt go up comes from our income based on our spending. The REASON why our debt is so high is that right now, we are spending at a greater rate than what the country is bringing in. If we were to stop EVERY loan, every government program, everything, right now, our debt would be 0 in a matter of a few months. For example...
I am looking at one of my check stubs now. I worked only 16 hours that week, at $21.86 an hour, comes to roughly 349.76. Federal taxes withheld $19.33 of that check. If 150 million working American's paid the same amount, just that $19.33 in one week, this country just generated 2.89 Billion dollars....In ONE week. In one year, thats almost 150 BILLION dollars. Now remember, thats ONE full year, just $20 a week of withheld federal. I only worked 16 hours that week, at $21.85. If everyone did the same, we would generate 150 Billion dollars in one year. But not everyone pays that much....so I pulled out a BIG check stub, from a few months prior.....
In this stub, I had worked 40 hours regular time at $21.86 an hour, but I ALSO worked 24 hours at $32.79 an hour. The grand total of that was $1661.36 before my taxes came out. Now my federal withheld that week was 324.36. Sounds like alot of money, but when you stare at an $1100 dollar check, its hard to complain. Now, if everyone was making roughly the same amount in ONE week, that $324.36 would end up being 48.65 BILLION dollars...IN ONE WEEK. In one year, that comes to 2.5 trillion dollars.
2.5 trillion dollars would be earned in one year, 150 million people made what I make. Granted they don't, alot of people dont, but the rich (for the most part) make up for what you don't make. 2.5 trillion in INCOME TAX REVENUE ALONE in this scenario. Wanna hear the kicker? I NEVER included Medicare taxes in this whole scenario. Its a separate fund collected by the IRS, but not counted with federal withholding. THATS a whole other fund, with its own money.
So as you can see, this country CAN AND DOES generate money rather quickly. I only explained income tax coming into the federal government, I never went on about other federal taxes, like Medicare, international tariffs, overseas importing taxes.....a whole list, AND, I never went over the taxes that corporations and businesses pay as well, which is more than what individual tax revenue carries in.
So its not about simply paying the debt down, we can easily do it within a few months. It wouldn't take long at all. What this country needs to do is curb its spending, BUT, I will never accept curbing healthcare funds to pay balance our national budget. Healthcare and education are two things that should NEVER be acceptable to reduce to balance our budget.
When someone says we need to "balance" the budget, it simply means that we need to find a way to spend money at the same rate or near the same rate as we make it.
Something else you have to understand is that almost every global economy is tied into ours, and tied into our loans and our debts. Its not a simple matter for a country to just "call in its debts". Its much more complicated than that. If China were to call in our debt to them, we would simply stop using them as an industrial outsourcing nation, crumbling their economy almost overnight. They know this, and they know its not that simple.
You just can't simplify economics, too many people do that.
Originally posted by KJZ28
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As I have stated on other sites, our debt is not something we continually pay back. Our debt works on a timeline. The more money we are in debt, the more time it takes for our government to pay back its loans, but they do eventually get paid back. It does sound bad, yes, but its not as though we never pay that debt off. We take in trillions a year in taxes, loans, things like that. What makes the national debt go up comes from our income based on our spending. The REASON why our debt is so high is that right now, we are spending at a greater rate than what the country is bringing in. If we were to stop EVERY loan, every government program, everything, right now, our debt would be 0 in a matter of a few months. For example...
I am looking at one of my check stubs now. I worked only 16 hours that week, at $21.86 an hour, comes to roughly 349.76. Federal taxes withheld $19.33 of that check. If 150 million working American's paid the same amount, just that $19.33 in one week, this country just generated 2.89 Billion dollars....In ONE week. In one year, thats almost 150 BILLION dollars. Now remember, thats ONE full year, just $20 a week of withheld federal. I only worked 16 hours that week, at $21.85. If everyone did the same, we would generate 150 Billion dollars in one year. But not everyone pays that much....so I pulled out a BIG check stub, from a few months prior.....
In this stub, I had worked 40 hours regular time at $21.86 an hour, but I ALSO worked 24 hours at $32.79 an hour. The grand total of that was $1661.36 before my taxes came out. Now my federal withheld that week was 324.36. Sounds like alot of money, but when you stare at an $1100 dollar check, its hard to complain. Now, if everyone was making roughly the same amount in ONE week, that $324.36 would end up being 48.65 BILLION dollars...IN ONE WEEK. In one year, that comes to 2.5 trillion dollars.
2.5 trillion dollars would be earned in one year, 150 million people made what I make. Granted they don't, alot of people dont, but the rich (for the most part) make up for what you don't make. 2.5 trillion in INCOME TAX REVENUE ALONE in this scenario. Wanna hear the kicker? I NEVER included Medicare taxes in this whole scenario. Its a separate fund collected by the IRS, but not counted with federal withholding. THATS a whole other fund, with its own money.
So as you can see, this country CAN AND DOES generate money rather quickly. I only explained income tax coming into the federal government, I never went on about other federal taxes, like Medicare, international tariffs, overseas importing taxes.....a whole list, AND, I never went over the taxes that corporations and businesses pay as well, which is more than what individual tax revenue carries in.
So its not about simply paying the debt down, we can easily do it within a few months. It wouldn't take long at all. What this country needs to do is curb its spending, BUT, I will never accept curbing healthcare funds to pay balance our national budget. Healthcare and education are two things that should NEVER be acceptable to reduce to balance our budget.
When someone says we need to "balance" the budget, it simply means that we need to find a way to spend money at the same rate or near the same rate as we make it.
Something else you have to understand is that almost every global economy is tied into ours, and tied into our loans and our debts. Its not a simple matter for a country to just "call in its debts". Its much more complicated than that. If China were to call in our debt to them, we would simply stop using them as an industrial outsourcing nation, crumbling their economy almost overnight. They know this, and they know its not that simple.
You just can't simplify economics, too many people do that.
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