“Warren Buffett has said he expects the US government to increase taxes rather than reduce spending as the country struggles with its mounting national debt. [depends on the next election, I think]

The declaration, delivered Saturday, comes as the US is hard-pressed to address widening fiscal deficits, and as the national debt recently topped $34 trillion - an amount nearly as big as the entire US economy.

More concerning is the fact the Fed and other money-minded officials have no plan in sight, paving the way for the Berkshire Hathaway boss's unsettling prediction. …”

More in this DailyMail article:
https://mol.im/a/13386205

I'd be willing to pay more taxes if they could get our budget under control and not in a deficit. What we are doing to the future generations of this country is immoral.

The gov't. will never reduce spending, ever. And even if they did, it would only be discretionary spending. Entitlement spending it what will ruin us. You could eliminate all discretionary spending tomorrow and it wouldn't save us. Besides, keeping an enormous debt on the books is always a good boogey man for calling for tax hikes.

I will never ever support more taxes. Billions going to illegals, liberal universities, Ukraine, corrupt politicians, people that hate this country, 87,000 more armed IRS agents...fuck that!

I wonder how much the tax rate would have to be increased, to balance the budget. Not that it would matter, because they’ll just continue to spend more than they take in, no matter how much they raise taxes.

quote:

Originally posted by Skull Leader:
I'd be willing to pay more taxes if they could get our budget under control and not in a deficit.

If only it was possible, but they would NEVER do it, only take your money to spend as they please.

I talked about this in the IRS audits thread...

The big problem is people who pay nothing but expect more and more out of government.
If you eliminate the EIC that would be considered a "tax increase" on the poor but all it would do is take them up to a ZERO% rate.

It's a system that is encouraging envy which only leads to destruction. This class warfare demonizing of the rich (especially by super-rich liberals who want to exempt themselves) only leads to destruction. Is it somehow more noble to pay nothing, get welfare, and live off of other people's work? Fully half of the people in this country pay no federal income tax.


Biden Wants The Wealthy To Pay Their "Fair Share", What Percentage Is That?

https://www.zerohedge.com/mark...hare-what-percentage

D.C. politicians have proven they will renege on any deal, so I will never trust a promise to reduce spending in exchange for a tax hike.

I do expect fedgov to increase taxes. It is how governments always deal with their fiscal problems. Buffet is merely stating the obvious, not promoting it as wise.

D.C. are in a bad situation. They buy votes with essentially no net taxes on half the country. They buy votes with profligate deficit spending. Inflation is on a knife edge, ready to explode, which calls for higher interest rates, but the national debt is so big that higher rates will spiral us into government default.

After raising taxes the economy will get much worse. The only option left is to inflate away the debt (and citizens' savings), and/or renounce the national debt.

I'd pay twice as many taxes , if !
They would spend it on the stuff I want to spend it on

quote:

Originally posted by ruger357:
I will never ever support more taxes. Billions going to illegals, liberal universities, Ukraine, corrupt politicians, people that hate this country, 87,000 more armed IRS agents...fuck that!

^^^^ This.