Originally posted by inj3ct0r
There are Hidden taxes in everything.A look at a phone bill,electricity bill and it's mostly taxes.The government is most probably robbing the American's to fulfill its agenda(s), quantitative easing, taxation.
edit on 5-2-2013 by inj3ct0r because: (no reason given)
According to projections from the Congressional Budget Office (CBO), entitlements and ObamaCare spending will comprise 53 percent of all federal spending over the coming decade, totaling $24.9 trillion.
In its updated Budget and Economic Outlook report released on Tuesday, the CBO projects that Social Security will account for $11.149 trillion in spending from 2014 to 2023 while federal health care entitlements, including Medicare, Medicaid, and ObamaCare, will spend $13.85 trillion. (That total includes TRICARE, CHIP, and "other" spending listed by the CBO under healthcare.)
ObamaCare’s insurance subsidies, exchange costs, and other spending are expected to cost the government $949 billion over the next 10 years. Medicare is expected cost $8.1 trillion while Medicaid is expected to cost $4.4 trillion.
Combined, these two entitlement categories (Social Security and all health care programs) will comprise 52.9 percent of the projected $47.2 trillion in total federal outlays from 2014 to 2023.
For instance, of the $13.85 trillion in health care entitlement spending, $12.2 trillion of it is not paid for via dedicated taxation, meaning that it will have to come out of general tax revenue or be added to the deficit.
In fact, over the next decade, the federal government will collect only $2.6 trillion in dedicated revenues for its mandatory spending programs, as opposed to $31.6 trillion in spending.
Originally posted by xedocodex
I see a few members here have successfully derailed this thread from talking about HOUSEHOLD INCOME into talking about GOVERNMENT SPENDING.
The two aren't linked...just a convenient way to ignore talking about what actually is the biggest issue in this country (low wages) and turning it into their favorite Right Wing talking point.
It's a shame, because Household income is a huge issue, and if we would fix that, it would fix many other issues.
Originally posted by jibeho
reply to post by xedocodex
Who the hell are you? I guess you missed the conversation on the first page of the thread... We've got a serious problem in this country...
They are linked. Stagnant income and bottomless spending means that the govt. needs to tap the taxpayers even more at the same time nearly 50% pay zero federal income tax. Thereby reducing income further with no end in sight as the pinching and choking of the middle class continues. Gotta reign in spending chief .. We are completely out of balance....
I agree with you regarding average household income but hidden taxes, surcharges etc etc suck that dry, cost of living is increasing and wages are stagnant, fuel costs are increasing, and just wait until Obamacare kicks in leaving a lot of families on the hook for $15k to $20k just to buy basic "bronze" health insurance plans.. No telling who much the silver, gold and platinum packages will cost.
Originally posted by BritofTexas
Raising the Household Income is, actually, quite simple.
Invest in the Infrastructure.
Roads, Bridges, The Electrical Grid all need fixing, rebuilding.
Make sure the construction contracts are not given to foreign companies and the aggregates are not imported. This will have a direct and snowball effect on employment. With more people employed the pool of un and under employed would be smaller. This would mean companies would have to offer higher wages to get people to work for them.
Less people on welfare would mean it wouldn't have to be cut.
Then when everybody is happily employed with a living wage and the deficit has been reduced due to a broader Tax base, we can begin to cut Taxes. Probably towards the end of Hillary's first term.