@FirstClassDuck @AZinCLE @MatthewSco50098 Are those the only two areas the government can cut spending?
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Lets Be Honest Here
33.2K posts
@FirstClassDuck @AZinCLE @MatthewSco50098 Describe this "caring for your own parents" part
Is the government paying for private schools?
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The Boomer generation overall has nearly $90 trillion in wealth. Why don't we tax some of that before shifting more of the burden onto the young people already paying for your Social Security and Medicare?
Cindy Young@CindyYoung456
Worked 46 years in a factory to pay my home off , no one gave me anything. I paid taxes worked hard and raised my children. Some people like me could not afford to contribute to a retirement account all I have is the SS I paid in and small pension from my employer. I make do with what I have but it’s not easy to come up with the property taxes every year to keep what I have.
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I bought my house in 1972 for $3,600
The government is telling me it’s worth $4.2million and using that to figure my taxes
This is highway robbery
It’s cutting into my pension AND my stock gains having to pay taxes on this
Abolish property taxes for seniors NOW!
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@MrNotBrownie Women take care of families, and that's why they become fat, because they don't have time to take care of themselves.
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@TurnCalifRed @AZinCLE @MatthewSco50098 If you want less national debt, you need either higher taxes, or state governments start taking on more debt.
Or people discover that they're responsible for caring for their own parents and paying for private school.
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@FirstClassDuck @AZinCLE @MatthewSco50098 No one said it's the same as the fed
However national debt does relate to allotted state funding from the fed
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@TurnCalifRed @AZinCLE @MatthewSco50098 FWIW, there's significant nuance to it, and it's not the same as how the feds run deficit spending.
For example, my school board requires a vote to borrow money to do large capital expenditures.
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@FirstClassDuck @AZinCLE @MatthewSco50098 Ahhhh... so there is city and state debt.
You went quite a ways to agree 👍🏼
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So once upon a time, state and municipal government defaults were a bit too common, so the solution was to limit borrowing by these entities.
In effect, it enforces fiscal discipline, but it makes them even more reliant on the feds for fiscal capacity, and coincidentally, why property taxes are so popular as they're considered far more stable compared to sales taxes.
The alternative to this is NYS's public benefit corporations where the state creates various off the books entities that are not subject to these limitations. The best known is the MTA which runs transit within the NYC Metro area, and issues bonds backed by fare, tax, and toll revenue.
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@fuckmxri That's weird that you immediately went to that 😳
Your therapist may need to know
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Right wing humor be like: RAPE THE HOMELESS😂😂🤣🤣😂🤣
Global Folder@Global_Folder
You see a woman like this on the street homeless, as a good Samaritan what will you do
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@FirstClassDuck @AZinCLE @MatthewSco50098 That's weird... why do they have them then? 🤷🏼♂️
There are also prohibitions against a variety of crimes... why do they happen?
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@TurnCalifRed @AZinCLE @MatthewSco50098 IIRC, most state governments have prohibitions against running deficits.
For comparison purposes, Canadian provinces can do so.
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@AZinCLE @MatthewSco50098 City government don't have debt?
How about state? 🤷🏼♂️
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@TurnCalifRed @MatthewSco50098 What are you even talking about? Do you not understand the difference between a city government and the federal government?
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@AZinCLE @MatthewSco50098 You totally can be fine with it. That isn't the issue... you stated it yourself that they will not spend less 🤣👍🏼
Hey, again, if they won't go into deficit... why do they have debt? 🤷🏼♂️
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@TurnCalifRed @MatthewSco50098 Again their generation overall has $90 TRILLION in wealth.
I'm fine with how my local government is spending. If anyone here isn't, they're welcome to sell their house to someone else.
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@AZinCLE @MatthewSco50098 You think retired boomers are rich? 🤔
Of course the government is the issue, you said it yourself... they aren't going to accept less revenues 👍🏼
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@TurnCalifRed @MatthewSco50098 No, my issue is with rich Boomers asking for tax breaks at the local level. The national debt is entirely unrelated.
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@CrazyGamerJC @TheChefsGardens @TheNoodlerOfBix I'd agree that investors buying up property, particularly foreign investors is not a good thing.
I believe Trump is rolling out something about stopping that. I need more details on it
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@TurnCalifRed @TheChefsGardens @TheNoodlerOfBix I would assume so but not for a good reason that being families buying them
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@AZinCLE @MatthewSco50098 Ahhhh, so the issue is with the government, not boomers.
If the government can't run a deficit, why do we have this national debt?
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@AZinCLE @MatthewSco50098 Why do you think that would happen?
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@TurnCalifRed @MatthewSco50098 What about them? Will raising property taxes on people under 60 so we can cut them on people over 60 make homes more affordable for young families?
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@CrazyGamerJC True... could be higher or lower spending on the purchase price and assessment
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@TurnCalifRed because estimates are just that. That price is a "best guess" based on what has previously sold in their data base
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So there are things you have to account for like maintenance. Just because you can afford rent doesn't mean you can afford to replace a $15K AC or a $2K water heater. That price doesn't include taxes or HOA dues, utilities, or anything else any homeowner has to pay for
Lets Be Honest Here@TurnCalifRed
@TheChefsGardens @HFiremoon So if they can afford $1,700/month rent, they could certainly afford a $1600/month mortgage 👍🏼
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@CrazyGamerJC @TheChefsGardens @TheNoodlerOfBix Thank you. It's nice chatting with someone reasonable on here.
Appreciated 👍🏼
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@CrazyGamerJC @TheChefsGardens @TheNoodlerOfBix Fair.
Traditional supply and demand trends would agree as well.
Anything can change and we can both be wrong... however from a trend line, the odds are in our favor of being right.
Even if another depression hit us, ultimately the housing market would continue to thrive
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@TurnCalifRed @TheChefsGardens @TheNoodlerOfBix so no I won't say ye or nah but you are most likely correct. And they say that because they don't see the market trends right now. But I have been wrong in life before
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@AZinCLE @MatthewSco50098 That's great... for you.
What about all the other young people that say they can't afford a home? 🤷🏼♂️
Boomers paying more?
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@TurnCalifRed @MatthewSco50098 I do own a home, that's how a property tax cut for Boomers is a property tax increase for me.
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