https://x.com/mjtruthultra/status/1757157244284670458?s=42&t=xetmxF1VDatwFGmXqk1Zlw
Yes, Stormfront, this is the specter that haunts America. The debt looms ever larger and the debt service encumbers an ever greater percentage of government revenue. Meeting debt obligation forces government to augment taxes and confiscate citizens’ private wealth. Pension plans will be subjected to greater taxation as well as real property. Eventually, the point of unsustainability will be reached, and the once great America will default on its obligations and we’ll become the Argentina of the Northern Hemisphere.
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That’s a curious take for a Boomer and a Republican. Let’s see…Reagan increased the debt by 160.8%. G HW Bush increased the debt by 72.6%. Only Roosevelt and Wilson were higher, and both during World Wars.
Trump increased the debt by 33.3%, higher than Jimmy Carter. Nixon increased the debt by 34.3%.
Interestingly, when did that debt to GDP jump? March 31, 1981. Reagan…just 2 months after he was inaugurated. I wonder what…OH, the Reagan Tax Cut of 1981. There was another major jump in June of 2001. I wonder…um…oh, the EGTRRA, known as the Bush tax cuts. Your entire generation spent through everything, racked up this debt, destroyed the coffers, bled every bit of the system which nurtured your opportunities and bled it dry for the rest of us, thereafter.
How quaint.
It does, huh? When? When exactly did that happen? It’s no secret that the numbers don’t lie…when we had higher taxes on the top %, we had a stronger middle class, good education, etc.
Rrrrreaaaalllly? Let’s not forget, it was Reagan who first taxed Social Security. Of course, that was after making it legal to move it to the general fund so they can use it as a slush fund and issuing essentially an IOU. Pension income depends on how you receive it in the first place. If you roll it into an IRA, you will pay taxes when you make withdrawals.
pension plans are fully taxable only when
- You didn’t contribute any after-tax dollars to the pension
- Your employer didn’t withhold after-tax contributions to the pension plan from your wages
- You’ve already received all your after-tax contributions in a tax-free way
For retirees who begin receiving pension payments before age 55, there could be an additional 10% tax applied to the amount. If you qualify for an exception, such as a permanent disability, you may not have to pay this tax.
As with most of your posts, you’re full of shit. The debt is nuts. What happened last time it was this high compared to GDP? We grew GDP. It became a smaller portion.
Under Republican Presidents since Nixon, you’ve grown the debt by 267% and a total of $13,850,764,632,539.60
4 of the 5 were from tax cuts.
If you remove Roosevelt and Wilson, you have 5 of the top 6 spenders, adding to the national debt are GOP Presidents. Ronald Reagan, G W Bush, G HW Bush, Nixon and Trump.
Obama is 2nd to G W Bush, but with no tax cuts…he dealt with the 2nd largest recession in the history of the modern world.
Also, if this is your explanation of Argentina’s economy, you’re as much of a dunce as Storm is. I just finished a book comparing our economies from the 20th on. Interesting read.
This is why you’re stupid…or one of the reasons, for sure.
Rising from what?
There are 392 Metropolitan Areas listed, of which 305 are under 4%, which is considered 0 unemployment in general macroeconomics. 22% of 392 are over 4%. 9% are 5% or over. Bakersfield and Yuma and the rest of the meth counties Trump calls constituents. All, of course, with a national unemployment rate of 3.5%
Dunning Kruger
