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View Full Version : Paul Ryan's Budget Plan



AUTaxMan
03-20-2012, 01:02 PM
http://online.wsj.com/article/SB10001424052702304636404577291221193908272.html?m od=WSJ_Opinion_LEADTop

Should be required reading. It's past time to get serious about this stuff.

pghin08
03-20-2012, 02:43 PM
100000000000% agree with you and Paul Ryan. Time to make some tough, unpopular decisions.

freethrowtommy
03-21-2012, 05:36 PM
Oh, I seen how this works. Let us cut social safety net program dollars to save money. Fair enough. Oh what's that? No cuts to military spending. Okay.

So you mean that all that extra cash we save is going to go to pay off the deficit? No? You are going to hand out tax cuts? Oh, I see...

This "proposal" is a joke. It takes the money out of programs that people rely on and puts it back into the pockets of people who don't need the money. If you aren't touching military spending in a budget plan, it shouldn't be taken seriously, AT ALL.

For me this is the crux. These people don't want to cut the budget. In fact they're politicians not to help the people but to help themselves and their clique. It's a smash and grab raid.

And this isn't required reading... it is an OPINION piece by the man who's name is on the bill.

cbuskstwar
03-21-2012, 05:45 PM
Oh, I seen how this works. Let us cut social safety net program dollars to save money. Fair enough. Oh what's that? No cuts to military spending. Okay.

So you mean that all that extra cash we save is going to go to pay off the deficit? No? You are going to hand out tax cuts? Oh, I see...

This "proposal" is a joke. It takes the money out of programs that people rely on and puts it back into the pockets of people who don't need the money. If you aren't touching military spending in a budget plan, it shouldn't be taken seriously, AT ALL.

For me this is the crux. These people don't want to cut the budget. In fact they're politicians not to help the people but to help themselves and their clique. It's a smash and grab raid.

As a person who spent 11 years protecting this country I take offense to this statement. You would rather cut money from our kids over there fighting so people can keep getting welfare checks?

shrewsbury
03-21-2012, 05:50 PM
so we should cut jobs in the military? you realize that these people will need jobs too, and that either we will end up funding some type of job placement for them, or they will take the few jobs that are out there, leaving the economy still weak.

we can't close down jobs, we need to create them. tax breaks to people or business' that create jobs is a must, those that don't should pay equal taxes.

tax the rich?

well let us look at the "rich"


Who is the prototypical American millionaire? What would he tell you about himself?(*)

* I am a fifty-seven-year-old male, married with three children. About 70 percent of us earn 80 percent or more of our household's income.

* About one in five of us is retired. About two-thirds of us who are working are self-employed. Interestingly, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires. Also, three out of four of us who are self-employed consider ourselves to be entrepreneurs. Most of the others are self-employed professionals, such as doctors and accountants.

* Many of the types of businesses we are in could be classified as dullnormal. We are welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, and paving contractors.

* About half of our wives do not work outside the home. The number-one occupation for those wives who do work is teacher.

* Our household's total annual realized (taxable) income is $131,000 (median, or 50th percentile), while our average income is $247,000. Note that those of us who have incomes in the $500,000 to $999,999 category (8 percent) and the $1 million or more category (5 percent) skew the average upward.

* We have an average household net worth of $3.7 million. Of course, some of our cohorts have accumulated much more. Nearly 6 percent have a net worth of over $10 million. Again, these people skew our average upward. The typical (median, or 50th percentile) millionaire household has a net worth of $1.6 million.

* On average, our total annual realized income is less than 7 percent of our wealth. In other words, we live on less than 7 percent of our wealth.

* Most of us (97 percent) are homeowners. We live in homes currently valued at an average of $320,000. About half of us have occupied the same home for more than twenty years. Thus, we have enjoyed significant increases in the value of our homes.

* Most of us have never felt at a disadvantage because we did not receive any inheritance. About 80 percent of us are first-generation affluent.

* We live well below our means. We wear inexpensive suits and drive American-made cars. Only a minority of us drive the current-model-year automobile. Only a minority ever lease our motor vehicles.

* Most of our wives are planners and meticulous budgeters. In fact, only 18 percent of us disagreed with the statement "Charity begins at home." Most of us will tell you that our wives are a lot more conservative with money than we are.

* We have a "go-to-hell fund." In other words, we have accumulated enough wealth to live without working for ten or more years. Thus, those of us with a net worth of $1.6 million could live comfortably for more than twelve years. Actually, we could live longer than that, since we save at least 15 percent of our earned income.

* We have more than six and one-half times the level of wealth of our nonmillionaire neighbors, but, in our neighborhood, these nonmillionaires outnumber us better than three to one. Could it be that they have chosen to trade wealth for acquiring high-status material possessions?

* As a group, we are fairly well educated. Only about one in five are not college graduates. Many of us hold advanced degrees. Eighteen percent have master's degrees, 8 percent law degrees, 6 percent medical degrees, and 6 percent Ph.D.s.

* Only 17 percent of us or our spouses ever attended a private elementary or private high school. But 55 percent of our children are currently attending or have attended private schools.

* As a group, we believe that education is extremely important for ourselves, our children, and our grandchildren. We spend heavily for the educations of our offspring.

* About two-thirds of us work between forty-five and fifty-five hours per week.

* We are fastidious investors. On average, we invest nearly 20 percent of our household realized income each year. Most of us invest at least 15 percent. Seventy-nine percent of us have at least one account with a brokerage company. But we make our own investment decisions.

* We hold nearly 20 percent of our household's wealth in transaction securities such as publicly traded stocks and mutual funds. But we rarely sell our equity investments. We hold even more in our pension plans. On average, 21 percent of our household's wealth is in our private businesses.

* As a group, we feel that our daughters are financially handicapped in comparison to our sons. Men seem to make much more money even within the same occupational categories. That is why most of us would not hesitate to share some of our wealth with our daughters. Our sons, and men in general, have the deck of economic cards stacked in their favor. They should not need subsidies from their parents.

* What would be the ideal occupations for our sons and daughters? There are about 3.5 millionaire households like ours. Our numbers are growing much faster than the general population. Our kids should consider providing affluent people with some valuable service. Overall, our most trusted financial advisors are our accountants. Our attorneys are also very important. So we recommend accounting and law to our children. Tax advisors and estate-planning experts will be in big demand over the next fifteen years.

* I am a tightwad. That's one of the main reasons I completed a long questionnaire for a crispy $1 bill. Why else would I spend two or three hours being personally interviewed by these authors? They paid me $100, $200, or $250. Oh, they made me another offer--to donate in my name the money I earned for my interview to my favorite charity. But I told them, "I am my favorite charity."

freethrowtommy
03-21-2012, 05:52 PM
As a person who spent 11 years protecting this country I take offense to this statement. You would rather cut money from our kids over there fighting so people can keep getting welfare checks?

That is a HUGE simplification of a much bigger issue. We spend 43% of the entire WORLD budget on the military. Making budget cuts doesn't mean putting people in harms way. We don't need to have troops all over the world fighting unnecessary wars. Bring troops home and how about we work on our own infrastructure with that saved money. We can create a ton of jobs with hammers rather than guns. We don't need to be, nor should we be, the world police.
http://en.wikipedia.org/wiki/Military_spending

And where did I say welfare checks? You do realize that the are LEGIT claims for welfare, right? Not everyone is out to steal your money.

mrveggieman
03-22-2012, 09:07 AM
When it comes to budget cuts everyone must stomach the cuts. If the military is too good for budget cuts then education should not be cut either. If education is not cut then the next program should not be cut either. Pretty soon we will not have any budget cuts and we will be right back where we started.

MadMan1978
03-27-2012, 05:31 PM
Ok so what tough choices must we make?

I will get back to this with a full comment after a few people have posted

shrewsbury
03-27-2012, 09:39 PM
i don't think it is as easy as making cuts all over the place. a budget has priorities, wants, and goals

so first you must know your goals, prioritize, then figure in your needs, and hopefully get a few of your wants.

having the best military, education, and economy would be my goals, without these a society will not prosper, grow, or even last.