Tiberius Posted March 26, 2015 Share Posted March 26, 2015 Growth is basically earning?? Uhhhh, no. Economic growth does not equal higher earnings? Really? lol While that's true in a vaacum, it's an incomplete statement. Given various economic conditions, it can increase taxes. It also ignores the notion that current spending levels, much less increased spending, may well be unsustainable and economically irresponsible policy. Unsustainable? What do you base this upon? Can you give us some serious numbers and analysis? I hope you are wrong but I'm open to hear your argument Link to comment Share on other sites More sharing options...
Chef Jim Posted March 26, 2015 Share Posted March 26, 2015 Economic growth does not equal higher earnings? Really? lol No. Once again what have the US "earnings" been the past several years? Zero. Has our GDP grown over that time? Yes. Link to comment Share on other sites More sharing options...
DC Tom Posted March 26, 2015 Share Posted March 26, 2015 Economic growth does not equal higher earnings? Really? lol What's the source of the government's earnings? Link to comment Share on other sites More sharing options...
Tiberius Posted March 26, 2015 Share Posted March 26, 2015 What's the source of the government's earnings? Taxes and fees No. Once again what have the US "earnings" been the past several years? Zero. Has our GDP grown over that time? Yes. Zero? The government hasn't taken in any money. What in the f*** are you talking about Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted March 26, 2015 Share Posted March 26, 2015 Unsustainable? What do you base this upon? Can you give us some serious numbers and analysis? I hope you are wrong but I'm open to hear your argument Our debt already exceeds our GDP. Taking both that, as well as the inevitability of rising interest rates, most economists agree that the cost of our debt service alone will exceed our entire defense budget. When interest rates go up, so does the cost of servicing both new debt and debt that is rolled over in the form of newly-issued Treasury securities. Link to comment Share on other sites More sharing options...
DC Tom Posted March 26, 2015 Share Posted March 26, 2015 Taxes and fees Zero? The government hasn't taken in any money. What in the f*** are you talking about Taxes and fees aren't earnings. Care to guess why? Link to comment Share on other sites More sharing options...
Tiberius Posted March 26, 2015 Share Posted March 26, 2015 Our debt already exceeds our GDP. Taking both that, as well as the inevitability of rising interest rates, most economists agree that the cost of our debt service alone will exceed our entire defense budget. When interest rates go up, so does the cost of servicing both new debt and debt that is rolled over in the form of newly-issued Treasury securities. Most economists?? That should be linked And, when interest rates do go up it will most likely be accompined by an economic expansion with less borrowing making the servicing of the old debt easier. The old debt will also shrink in proportion to the size of the economy Link to comment Share on other sites More sharing options...
DC Tom Posted March 26, 2015 Share Posted March 26, 2015 And, when interest rates do go up it will most likely be accompined by an economic expansion with less borrowing making the servicing of the old debt easier. The old debt will also shrink in proportion to the size of the economy You're a !@#$ing moron. Where did you learn fiscal policy? Archie comic books? Link to comment Share on other sites More sharing options...
Chef Jim Posted March 26, 2015 Share Posted March 26, 2015 Taxes and fees Zero? The government hasn't taken in any money. What in the f*** are you talking about No we're focusing on your idiotic use of the term earnings. Link to comment Share on other sites More sharing options...
DC Tom Posted March 26, 2015 Share Posted March 26, 2015 No we're focusing on your idiotic use of the term earnings. Although to be honest, his use of the terms "assets" and "worth" were an order of magnitude more idiotic. It's perfectly understandable why I'd go straight to FICO when someone talks about credit ratings being based on "worth." 'Cause who the hell would hear "worth" or "assets" and think "government debt?" Link to comment Share on other sites More sharing options...
Chef Jim Posted March 26, 2015 Share Posted March 26, 2015 Although to be honest, his use of the terms "assets" and "worth" were an order of magnitude more idiotic. It's perfectly understandable why I'd go straight to FICO when someone talks about credit ratings being based on "worth." 'Cause who the hell would hear "worth" or "assets" and think "government debt?" Who indeed. Link to comment Share on other sites More sharing options...
Tiberius Posted March 26, 2015 Share Posted March 26, 2015 No we're focusing on your idiotic use of the term earnings. So you are playing a stupid gotcha game and have no clue of the overall topic which you can care less about. You are a waste of time Although to be honest, his use of the terms "assets" and "worth" were an order of magnitude more idiotic. It's perfectly understandable why I'd go straight to FICO when someone talks about credit ratings being based on "worth." 'Cause who the hell would hear "worth" or "assets" and think "government debt?" Obfuscating away.... Link to comment Share on other sites More sharing options...
DC Tom Posted March 26, 2015 Share Posted March 26, 2015 So you are playing a stupid gotcha game and have no clue of the overall topic which you can care less about. You are a waste of time Obfuscating away.... It's not obfuscation just because you don't understand it. Link to comment Share on other sites More sharing options...
Tiberius Posted March 26, 2015 Share Posted March 26, 2015 It's not obfuscation just because you don't understand it. That's more obfuscating! You are running in circles chasing your tail. You are also a pathetic moron Link to comment Share on other sites More sharing options...
Dante Posted March 26, 2015 Share Posted March 26, 2015 (edited) I have to say I admire gatorman's fearlessness. Albeit ill advised. Pathetically over matched like any 80s Mike Tyson opponent only equipped with the inability to get knocked out or good sense to quit after being repeatedly bludgeoned. Depending on what state your in this "fight" would have been stopped by the 3 knockdown rule or by the mercy and judgement of the ref. Keep at it gatorman Edited March 26, 2015 by Dante Link to comment Share on other sites More sharing options...
Chef Jim Posted March 26, 2015 Share Posted March 26, 2015 So you are playing a stupid gotcha game and have no clue of the overall topic which you can care less about. You are a waste of time It is a stupid gotcha game because you're so easily gotten. At what rate are the US earnings taxed at? Link to comment Share on other sites More sharing options...
Tiberius Posted March 26, 2015 Share Posted March 26, 2015 I have to say I admire gatorman's fearlessness. Albeit ill advised. Pathetically over matched like any 80s Mike Tyson opponent only equipped with the inability to get knocked out or good sense to quit after being repeatedly bludgeoned. Depending on what state your in this "fight" would have been stopped by the 3 knockdown rule or by the mercy and judgement of the ref. Keep at it gatorman On what point did those clowns get me on? Tom loves that you cheer his idiocy on though It is a stupid gotcha game because you're so easily gotten. At what rate are the US earnings taxed at? You really are a complete idiot Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted March 26, 2015 Share Posted March 26, 2015 (edited) And, when interest rates do go up it will most likely be accompined by an economic expansion with less borrowing making the servicing of the old debt easier. The old debt will also shrink in proportion to the size of the economy The service on our debt today is around 260B, which is roughly what it was in 2006, even though our debt has grown substantially over the last 9 years. The driving force behind that is the rate of interest we are paying. We are currently paying 0.01% on 3 month T-bills and 2.98% on ten year notes; while historically those rates are closer to 3.3% and 5.2% respectively. When rates normalize, the cost to service will be astronomical; and prohibitive to new borrowing. However, if our government insists on continuing it's spending trends, that money will have to come from somewhere. A levy of new taxes, used to cover the spending gap will depress the economy. So no, interest rates going up are not likely to be accompanied by economic expansion. Edited March 26, 2015 by TakeYouToTasker Link to comment Share on other sites More sharing options...
Chef Jim Posted March 26, 2015 Share Posted March 26, 2015 You really are a complete idiot Am I the one that said the US government has earnings? Link to comment Share on other sites More sharing options...
DC Tom Posted March 26, 2015 Share Posted March 26, 2015 Am I the one that said the US government has earnings? Don't forget "worth." That's more obfuscating! You are running in circles chasing your tail. What am I obfuscating? I'm QUOTING you, dumbass. Link to comment Share on other sites More sharing options...
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