Mortdooley wrote on Sep 27
th, 2024 at 9:07pm:
Quote:I know nothing about your tax system, Mort, but do you know?
Even I know taxing home owners is fabricated deranged hysteria. Why?
Because a house is not capital, you silly old thing. You don't get taxed on things you don't buy or sell.
Good idea about spending less than you take in though. Your DL's promised to continue spending, lower taxes and take in more revenue. How?
It's comp-licated, he says. Still, he says he's going to pay off the entire US deficit by 2028.
Imagine, even you, with your taxing home owners ruse, know that one's bullshit. And yet, you'll forgive and forget.
2028 will come along, you'll be up to your neck in debt, and you won't say a thing. You'll make excuse after excuse. How do we know?
He said exactly the same thing in 2016. By 2019, he spent more of your money than any other prez in your history - long before covid.
So please spare the Biden hysteria, Mort. If you were sincere about low-spending governments, you wouldn't be supporting the guy who's wasted more of your money than any prez ever.
I would have thought something as simple as taxing any asset could be understood by all. Each year the dollar is worth a little less which turns home equity into an
unrealized capital gain for the purpose of the Harris tax proposal.
The family home is capital. On any balance sheet of net worth the family home is usually the most valuable asset.
I know it seems to go contrary to liberal thinking but lowering taxes actually increases the amount of tax collected as people spend their own money better than the government spends it.
By up to my neck in debt I suppose you don't actually mean
me personally because I haven't had personal debt for over 20 years.
Until we have line item veto you can't blame the President for keeping the government running over a bad budget when the Congress is willing to shut the government down to get their pork.
Oh? You mean the government hasn't taxed your home as a profit-generating
business asset? How strange.
No, by debt I mean your valuable government coffers which you keep saying the leftards are frittering away, drowning your country in debt.
The thing is, you just don't give a hoot if your DL puts you in
more debt.
You know this. Your DL could default, lower the US' credit rating, send you into recession, blow the bank.
You wouldn't bat an eye, Mort. You'd have nothing but praise.
The idea that lowering tax revenue raises more money was thoroughly debunked during the Bush administration. It took Obama to get you out of that mess, and it took Biden to get you out of covid.
These are cold, hard facts which you probably know already.