Paying down the debt seems like a much heavier lift once you decide to give AT&T a 40% tax cut. Is it extreme to expect Amazon to pay SOMETHING?
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Corporate income tax only brought ~6% of tax receipts overall AMZN alrdy barely paid it thanks to their complex corporate structure specifically designed to avoid it Meanwhile both parties "compromised" on spending an extra 6% in outlays on the yr,the real driver of the deficit
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The driver of the debt is Social Security, Medicare, and the Pentagon. Reducing it means cutting spending AND increasing taxes.
@justinamash is the first to run to the front of the line to burn the safety net to the ground, not so much on actually paying the bills. -
I think I'll stand with Amash as you describe him. Increasing tax rates seems neither necessary nor desireable. I'd rather slash spending starting with the ridiculous military that both parties somehow compromised to increase by billions this yr
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Social security and Medicare are paid for with payroll taxes and are running in the black. Spot on on the pentagon though.
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They're transfer payments that go to those who are currently retired. The amount paid out in benefits far exceeds what was paid in through payroll taxes. The only ways to maintain solvency are raising the cap higher than than only the first $114k, or reduce benefits paid out.
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After adjusting for inflation the return on SS contributions is pretty measely. Something on the order of 1-2% for the average contributor. Those who paid the maximum tend to get a little worse return, those who paid the minimum get a little better one.
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Both taxpayers and recipients could get a better deal by letting anyone who wants to opt out do so today in exchange for foregoing their future returns and just borrowing through the bond market to pay the benefits for those who don't opt out.
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Ending federal marijuana prohibition & 280E problems would be far more helpful to the US economy. We have willfully handed the marijuana industry, including pharma R&D & exports, to Israel & Canada & others.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Don’t agree with you on much but war and civil liberties you are on point, time to end the wars. Quit funding others defense.
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Quit funding the overloaded defense we have now. The growing threat was cyber. Everyone knew it and saw it coming. We've done little to nothing. All the ships and planes and everything else we got will mean divk, if they're hacked.
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Another way to save $2 trillion is to move to a
#MedicareForAll system.#DoneWaiting Vote#AbdulElSayed for Michigan governor.#Vote Tuesday, August 7th Michigan! They managed to figure it out a long time ago, we can do it to.pic.twitter.com/nsE9VWTvNn
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Other countries have national healthcare systems which spend less per person, and have better healthcare results. There is ZERO, none, nothing, nada evidence that private healthcare has any savings compared to the efficiency of a national system.
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Taxes instead of premiums. It works. Even conservative sources show we'd save money. Instead of 1500/mo for private coverage (with deducts/copays etc) you pay 1400/mo in more taxes, and all care is 100% free. It works. The USA is not a magical place where economics stop.
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How about reversing those ridiculous tax breaks for wealthy?
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How about both?
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