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Author | Topic: The Biden Presidency | |||||||||||||||||||||||||||||||||||||||||||
anglagard Member (Idle past 1094 days) Posts: 2339 From: Socorro, New Mexico USA Joined: |
I am already enjoying life more under the Communist regime with its Socialist policies implemented by notorious Marxist Joe Biden than I ever did under Trump's Kakocracy.
The problem with knowing everything is learning nothing. If you don't know what you're doing, find someone who does, and do what they do. Republican = death
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Phat Member Posts: 18651 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
It all boils down to money. You simply cant hand it out if you don't generate any.
"A lie can travel half way around the world while the truth is putting on its shoes." ~Mark Twain " *** far from science having buried God, not only do the results of science point towards his existence, but the scientific enterprise itself is validated by his existence.- Dr.John Lennox The whole war between the atheist and the theist comes down to this: the atheist believes a 'what' created the universe; the theist believes a 'who' created the universe.- Criss Jami, Killo The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him. Leo Tolstoy, The Kingdom of God is Within You(1894).
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anglagard Member (Idle past 1094 days) Posts: 2339 From: Socorro, New Mexico USA Joined:
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Yeah, you're right. A joke is not as funny when you have to explain it.
The problem with knowing everything is learning nothing. If you don't know what you're doing, find someone who does, and do what they do. Republican = death
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AnswersInGenitals Member (Idle past 408 days) Posts: 673 Joined: |
I buy a $30,000 car on Friday and give the dealership a $30,000 check. Problem is that I only have $100 in my checking account. But I know it will take several days for the check to clear my bank. So I run around and borrow as much money as I can from every friend and source I can find and deposit it in the bank in time to clear the check. This is how our federal government works.
An interesting aspect of this process is that I write IOU’s for the money I borrow and these IOU’s state: Pay to the bearer on (some date) the following amount. The person who lent me the money could possibly use this IOU in exchange for goods or services (if the goods/service provider is wiling). I. e., I have printed MONEY! The IOU’s the government prints (which they call BONDs) are our country’s second form of money, because it is legal tender, whose total amount is not controlled.
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Percy Member Posts: 22953 From: New Hampshire Joined: Member Rating: 6.9 |
AnswersInGenitals writes: The IOU’s the government prints (which they call BONDs) are our country’s second form of money, because it is legal tender, whose total amount is not controlled. The finances of the federal government are complicated. Even attempts at simplified descriptions, at least by me, are bound to have errors and omissions, but anyway... Appropriations and the debt limit are under the control of Congress, though of course the signature of the president is required. The debt limit controls the total amount of government IOUs that can be issued (in the form of bonds), but the debt can increase beyond the debt limit for appropriated items because while Treasury cannot issue payment, the government will be billed thereby increasing the debt. The bills will go unpaid until the debt limit is increased, though Treasury does have some extraordinary measures at its disposal to pay at least some bills. --Percy
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Taq Member Posts: 10302 Joined: Member Rating: 7.1 |
Phat writes: It all boils down to money. You simply cant hand it out if you don't generate any. Governments can. If a government controls their own currency they can print as much of it as they want. They risk inflation, of course, but they can do it. In the modern world, you don't even have to spend the effort of physically printing it.
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ramoss Member (Idle past 869 days) Posts: 3228 Joined: |
The stimulus check has income limits.
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Percy Member Posts: 22953 From: New Hampshire Joined: Member Rating: 6.9 |
For the second stimulus check, the $600 one, for a married couple filing jointly the total stimulus check amount is $1200, but it begins diminishing at $150,000 and reaches zero at $175,000.
For the proposed third stimulus check, the $1400 Biden one, I think the limits are the same. The limits seem generous, but aside from that what I'd really like to see is the bulk of the stimulus going to unemployed and needy people. People who have kept their jobs have much less need for stimulus checks. --Percy
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Phat Member Posts: 18651 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
Percy writes: perhaps this is theoretically so, but the cutoff should not be simply at having a job versus not having a job. Some jobs barely pa1y the bills...and we need a stimulus too. The bills have piled up this past year. The limits seem generous, but aside from that what I'd really like to see is the bulk of the stimulus going to unemployed and needy people. People who have kept their jobs have much less need for stimulus checks."A lie can travel half way around the world while the truth is putting on its shoes." ~Mark Twain " *** far from science having buried God, not only do the results of science point towards his existence, but the scientific enterprise itself is validated by his existence.- Dr.John Lennox The whole war between the atheist and the theist comes down to this: the atheist believes a 'what' created the universe; the theist believes a 'who' created the universe.- Criss Jami, Killo The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him. Leo Tolstoy, The Kingdom of God is Within You(1894).
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xongsmith Member Posts: 2620 From: massachusetts US Joined: |
Phat writes:
having a job versus not having a job. do you make $150,000 or more? No? then you will get a full stimulus."I'm the Grim Reaper now, Mitch. Step aside." - xongsmith, 5.7d
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Percy Member Posts: 22953 From: New Hampshire Joined: Member Rating: 6.9
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Phat writes: perhaps this is theoretically so, but the cutoff should not be simply at having a job versus not having a job. Some jobs barely pa1y the bills...and we need a stimulus too. The bills have piled up this past year. Everything being said cannot appear in every single sentence. It simply isn't possible. The first sentence you quoted said, "unemployed and needy people." The next sentence went on to stress that those still employed have less need for stimulus checks because I see that as the least rational part of the program, but it did not represent a retraction of the previous sentence, that the emphasis for stimulus should be on the unemployed and needy, nor a rejection of the earlier criticism of the high limits. Comment or criticism cannot limit itself to one sentence (or paragraph or section or post of a thread or a body of work) while ignoring the context of what surrounds it or has gone before, otherwise it's akin to quote mining. --Percy
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Percy Member Posts: 22953 From: New Hampshire Joined: Member Rating: 6.9
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xongsmith writes: Phat writes: having a job versus not having a job.
do you make $150,000 or more? No? then you will get a full stimulus. I think Phat is single, so his limit is $75,000. --Percy
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Phat Member Posts: 18651 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
I think you bring up some good points regarding my reasoning process on this issue. I think that I consciously or unconsciously view myself as a needy person in regards to stimulus checks. The buck can stop at some point, but I feel it should always be right above me.
I know that you have a decent lifestyle yet I also realize that you likely have some hefty expenses. Your property taxes likely are not cheap. That being said, I see no reason why everyone should not qualify for either a stimulus check or good unemployment insurance. The real issue is government debt and how far it can realistiucally increase. I have always said that in Biden's term, we will see inflation...and possible abandonment of the US dollar if things get too far out of hand. The dollar coupled with our ability to create more of them with the stroke of a pen gives the US citizens an advantage which the world may not soon tolerate. Which worries me. Edited by Phat, : No reason given."A lie can travel half way around the world while the truth is putting on its shoes." ~Mark Twain " *** far from science having buried God, not only do the results of science point towards his existence, but the scientific enterprise itself is validated by his existence.- Dr.John Lennox The whole war between the atheist and the theist comes down to this: the atheist believes a 'what' created the universe; the theist believes a 'who' created the universe.- Criss Jami, Killo The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him. Leo Tolstoy, The Kingdom of God is Within You(1894).
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xongsmith Member Posts: 2620 From: massachusetts US Joined:
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Phat writes:
The real issue is government debt and how far it can realistiucally increase. Well, if Biden & the Dems can undo all of the criminally egregious tax break the Trump administration hung on our backs, it'll go a long ways towards pushing that issue onto a back burner. Those in that bracket should pay even more than they were before the tax cut. Today I saw that Biden wants to end the 40 Billions subsidy to the Oil Industry. Hoooray! About time."I'm the Grim Reaper now, Mitch. Step aside." - xongsmith, 5.7d
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Phat Member Posts: 18651 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
Here is the thing though. The top 10% of the wealthy can always find ways to avoid paying US taxes. They can live elsewhere and make sure that their holdings are diversified out of Uncle Sams reach.
It irritates me, but I honestly think we cant force them to pay. Isnt it true that they (top10%) dont actually pay that much on wealth but only on income?"A lie can travel half way around the world while the truth is putting on its shoes." ~Mark Twain " *** far from science having buried God, not only do the results of science point towards his existence, but the scientific enterprise itself is validated by his existence.- Dr.John Lennox The whole war between the atheist and the theist comes down to this: the atheist believes a 'what' created the universe; the theist believes a 'who' created the universe.- Criss Jami, Killo The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him. Leo Tolstoy, The Kingdom of God is Within You(1894).
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