On Paying as you go, Part 2

[Steve Plonk]

On Paying as you go


Postby Steve Plonk » August 7th, 2011, 11:43 am

Kind folks & gentle people, our country got into this "debt problem" by not
doing what common sense tells us to do: "Pay as you go". This means that one makes sure, that when one "lives on float", that a country, etc. has enough capital to pay the increments when the checks come due.

The republican party did not do that for eight years under Bush. They spent
and reduced revenue coming in. We went from having a surplus for one of the
few times in history to being in possible default. The federal government tried
to bail us out and raised the debt ceiling, which is an automatic given if you
are "living on float". (See "George Bush adds $4 Trillion to National Debt" by
Mark Knoller, Sept. 29, 2008, White House correspondent for CBS news.)
The above realization is one reason that the republicans were voted out of office to begin with. We need revenue coming in: Mayor Bloomberg of New York has said the same thing in a recent TV interview on PBS.

So, who is most able to pay additional revenue? The multi-national corporations and the rich... So let's not fool ourselves again and let's vote for
good old "tax and spend". Logically, in order to spend, we must tax.
So there you have it in a nutshell. Whose economic policy fits the
above "tax and spend" motif the best? The Democratic Party, who,
incidentally, got us out of the last "Great Depression". Yes, the "Great
Recession" is not over yet. All the tea party republican "smoke and mirrors"
does not change the fact that the Democrats have, basically, more sound
fiscal policy. Now, if we could just get the Federal Reserve to see it that
way and the fools which continue to snafu fiscal policy by not voting for
a tax increase. Thank you, and good luck.

Steve Plonk

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Joined: December 12th, 2009, 4:48 pm

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Re: On Paying as you go

Postby mtmynd » August 7th, 2011, 3:29 pm
I believe that would require we (the collective 'we') would first have to pay off our debt load (to pay as we go). With our collective debt (household, business, state and local, financial institutions and Federal Government**) is 54.5 TRILLION DOLLARS! This breaks down to each and every citizen would have to cough up $165,762.00 per citizen to pay off the entire debt load which is on our backs. Once we do that, it would be reasonable to 'pay as you go', but as long as we are that much in debt as a Nation, the prospects of paying as we go would at best completely and totally freeze our economy, as I see it.

[** http://www.usdebtclock.org/2008.html]
How much can I think before I become thoughtless?

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Re: On Paying as you go

Postby Steve Plonk » August 7th, 2011, 3:45 pm
Mtmynd, all the more reason to vote for the party that taxes: the Democratic Party. Thanks for the hook! Yes, the national debt is huge, but if we don't get started, it'll continue to grow. So , we collectively must get real and vote for Democratic Party, the party who taxes. We must round up the tax crooks and
make sure everyone pays their fair share. The whole world is in a "great recession" right now, as I'm sure you know, not just us.

The international banking system must cooperate with all countries with
financial problems and the trade wars must cease. Without that being done,
we're all in for a rude awakening...

Steve Plonk

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Joined: December 12th, 2009, 4:48 pm

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Re: On Paying as you go

Postby Steve Plonk » October 3rd, 2011, 1:38 pm
Time for America to freaking wake up! The woefully ignorant & the pridefully ignorant who keep this "supply side economics" birdmess going are sending the
country into the crapper on a slippery slope. Tax us, Congress... Tax us Obama!
Get moving and do it quickly...We don't have time for your freaking committees.
Get moving on job creation and pass the President's job bill. (That includes the
local yokels who need to get wise to graduated income taxation on the state and local levels.)

Listen to folks like Lamar Alexander, US senator from Tennessee, and stop stalling & yawning & get moving on fixing the environment & creating jobs. Start compromising--and TAX US! NOW!

[Steve Plonk]

TO All you representatives & senators on both sides of the aisle:
It is time that we had a REAL tax base. We need to soak the taxes out of the rich. We need increased payroll taxes for everyone in 2014. Otherwise, our country is going to be in dire straits financially.

We've run two wars on a credit card & have gridlock when it's time to pay the costs. I don't think it is fair to dock seniors pensions, not fully fund medicare & medicaid, when these programs have been paid into by people. No one should think about borrowing against peoples' pensions & healthcare benefits. It is criminal to do so...

[stilltrucking]

Only debt I worry about is student loans.
The Seven Things They Don't Tell You About Student Loans
And it is sad about the payday loans too
Fast Cash: How Taking Out a Payday Loan Could Land You in Jail
I would like to write my congressman about his support for that industry.

I don't owe enough money that's my problem. If I owed a million dollars I would feel like a millionaire.

I think the TeaParty/Debt hysteria is dangerous. Some people in Texas remember the Alamo, I still remember the Wiemar Republic.

[Steve Plonk]

Yeah, still trucking, I still resent the ridiculous hysteria of the tea party. If it wasn't for them,
we'd be on the way to fully fund pensions & healthcare. They are trying to chip away provisions of the Affordable Health Care Act & trying to privatize social security...

A student loan provisioning act recently got signed by President Obama...
I wonder what that Act entails, or entrails, as the case may be. I know that it
lowered interest rates on student loans. I'll bet, like you said, there are still people close to
our age trying to pay off these loans. I wish title loan places were illegal in Tennessee,
as they are in some states.

Privatizing SSN would be a criminal act which generations which follow would rail against.
Except for one thing, it seems that this generation Y or z, take your pick, is being
brainwashed by tax naysayers. We all have to chip in, because there is no free lunch.
Have they forgotten, that they, too, will grow old. My daughter, who represents the Milleniams,has not been indoctrinated. That's why my daughter's generation voted for Obama, et al, in droves.

I am so angry about this stuff, that I could spit. I've written & not even gotten
an answer back. It is nice to preach to the choir with somebody. I have to wade through chuckleheads in this other site I frequent, which shall be unnamed.

Why would anyone in their right mind support tea party ideas about finance? Deregulation has been tried & it got us into the recession & worse. The "99 percenters" have the best ideas presently. When is the rest of the nation going to come around to responsible finance? This seems like some kind of nightmare rerunning of the mistakes of the twenties. We have to pay as we go so when the folks need their pensions, etc., the money will be there for them. That means you & me. We are that age. Is the government to dare to pull the rug out from under us?! Arghh! Maybe there needs to be a million old folks march to state capitals & DC, similar to the "Occupy movement" which I most identified with. They remind me of me back in the day. They are out in our city square,
as we speak, protesting foreclosing of mortgages.

(Meanwhile, privateers eye "derivatives" & ponzi schemes as a way to make money off of unsuspecting folks in the stock market.)

If this mean mess is not regulated & keeps up, none of us will have money that is worth a plug nickle. Rep. Maxine Waters had the right sentiments about tea party chuckleheads.

Here's a link to the White House's legislation signings: Database not open on weekends...
http://www.whitehouse.gov/briefing-room ... egislation

[Steve Plonk]

Here's an interesting link to an article by Mike Whitney, AK Press, See below:
http://www.informationclearinghouse.inf ... e34391.htm