Category Archives: Tax Policy

The 14th amendment “option”

Some people are grasping at the notion that President Obama can “invoke” the 14th amendment to sell more Debt without Congressional authorization. Looks look at the more closely.    First is the original notion contained in Article 1, Section 8 of … Continue reading

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If the US Treasury defaults…

The “common wisdom” going unchallenged by the media and those talking to the media is “If the US Government defaults, the Stock market will Crash!”   The Sky is falling! I don’t believe that to be true – in fact the … Continue reading

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The Big Lie about the National Debt

Any politician who uses the phrase “We need to do X to help pay down the debt” is a liar and thinks you’re stuipd and/or ignorant. [See: President Obama] Nobody is remotely calling for anyone to “pay down” the existing … Continue reading

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Bob Brinker’s Balanced Budget Amendment

Bob maybe likes the idea of a Constitional Amendment to Balance the Budget, but he wants 3 exceptions Define “balanced” to mean not more than 3% of GDP (so if the annual deficit is less than about $500 billion, declare … Continue reading

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Newsbusters’ incomplete analysis of Reuters’ incomplete analysis

http://www.newsbusters.org/blogs/noel-sheppard/2011/07/07/reuters-ignores-projected-august-debt-payments-exclusive-about-preven So NewsBusters thinks Reuters is “spinning” the US Debt Ceiling story by not pointing out that the US Treasury will have the ~$20 Billion to pay the interest on the debt in August.  With $175 billion coming in, $20 … Continue reading

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Medicare Spending

One of the obvious targets to try to control government spending is Medicare.  The expected cost for 2011-2012 will be $483 billion. How realistic is it to think that we could cut $400 billion (75%) of the budget of Medicare … Continue reading

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So where can the US Government cut spending?

A while ago, I created a “poll question” based on the actual spending by the Federal Government Poll Normal “Talk Show” cliches about cutting the Federal budget go something like “We should cut off foreign aid!    Shut down the department … Continue reading

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Time to cash in those IOUs

You know – that big pile of IOUs sitting in Al Gore’s Social Security “Lock Box” down in Tim Geithner’s basement. http://www.businessweek.com/news/2011-05-13/medicare-social-security-funds-expiring-sooner-u-s-says.html Between people retiring earlier and dropping social security taxes, the “We’re out of money” date has moved forward … Continue reading

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The “Transaction” Tax Idea

TheChairman floated this idea the other day, worthy of its own thread: What I’ve toyed with (for at least 10 years) is a combination which I refer to as a National Sales & Transaction Tax, with a much lower rate … Continue reading

Posted in Tax Policy | 21 Comments