Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of PoliticsBest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd
Search
Shrewd'm.com Merry shrewd investors
Search
Best Of PoliticsBest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd


The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
Answer this questionContinue to Shrewd'mThis note won't appear again
Halls of Shrewd'm / US Policy
Unthreaded | Threaded | Whole Thread (23) |
Author: albaby1 SILVER
SHREWD
  😊 😞

Number: of 84358 
Subject: Re: The Biden Economy
Date: 06/15/23 4:43 PM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 4
[1pg]I'll say it again: if no one is going to increase taxes on the wealthy (including unearned income, inherited assets, etc), then they aren't serious about the budget.

I'll say it: if no one is going to increase taxes on the upper-middle class that would never consider themselves wealthy (including higher marginal rates and reducing common deductions like mortgage deductions), they aren't serious about the budget.

[BHM] And I'll say it again: if no one is going to show some spending restraint, then they aren't serious about the budget.

I'll say it: if "spending restraint" doesn't include cutting military sending, Social Security, and Medicare spending, then they aren't serious about the budget, either.

I don't care which party it is.

Our kinda-sorta long-term baseline budget deficit is about $1-1.5 dollars. It ballooned well above that for a few years because of some significant one-off coronavirus spending, but that's going to wane after this budget year. You can't close that hole with taxes on the wealthy. And you can't close that hole with reducing non-defense, non-discretionary spending.

If you're serious about the budget, that means that both tax increases for families earning less than $400K and changes to military and SS/Medicare spending have to be on the table. That's how we know neither party is serious about the budget.
Post New | Post Reply | Report Post | Recommend It!
Print the post
Members reply directly to albaby1 here — and replies get answered. Reading is free; so is joining the conversation. Join Shrewd'm »
This community has written 84,309 posts about US Policy. The article-length ones it recommended most:
It's going to get worse · 33 recs · 2025
G’day Donny · 30 recs · 2026
Old Related Story · 28 recs · 2026
HCR is a national treasure · 27 recs · 2025
Fascism in America · 27 recs · 2025
Unthreaded | Threaded | Whole Thread (23) |


Announcements
US Policy FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of Politics | Best Of | Favourites & Replies | All Boards | Followed Shrewds | Open Questions | Moving a community