• Madison320's Avatar
    Yesterday, 02:15 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    As a libertarian I don't care how much a person makes thru voluntary exchange. The important thing is how much is stolen. And I'm pretty sure Jeff Bezos has had more stolen from him than most humans in history.
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    10-01-2024, 04:50 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    You don't need an equation, you just have to understand the logical concept of diminishing returns. So what's your point? That 17 year olds pay taxes? The fact is that the rich pay virtually all the tax at much higher rates than the rest of the population. You said you want higher taxes to have the effect of reducing spending. To do that you need to raise taxes on the majority of voters. And that's going to be at the lower income levels since the majority of voters are in low income brackets.
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    10-01-2024, 02:50 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    I agree that spending is the real tax but the different tax rates are not always minor shifts in who foots the bill. I'm pretty sure if we raised CaptUSA's rate to 95% you wouldn't feel it was a minor shift. Spending is the true TOTAL tax but the taxes can hit certain groups more. I despise progressive taxation. Rates should be the same for everyone as much as possible. We should have equal treatment under the law.
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    10-01-2024, 02:42 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    You're missing the point. You only have to be in the neighborhood of the peak to know that cutting tax rates is a great trade off. The curve is very shallow anywhere near the peak which means a big change in tax rates makes very little difference in tax revenue. You have any evidence? https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/#:~:text=In%202021%2C%20the%20bottom%20half,of%20all%20federal%20income%20taxes. According to this link the bottom 50% of taxpayers as in people who have filed taxes, not retirees and children. The number of total taxpayers is about 150 million which makes sense since there's around 330 million us citizens in total.
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    10-01-2024, 12:39 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    I agree but that's why we need some sort of flat tax. Either a flat rate on income or sales or tariffs. Something like 50% of the population are not paying any income tax at all.
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    10-01-2024, 12:34 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    70% is a joke, especially for high income earners and corporations. No entrepreneur would ever risk capital for that rate. We don't know exactly what it is but we know that we're in the ballpark where it's not even close to being proportional. By that I mean a 10% increase in rates is going to produce much less than a 10% increase in revenue. So you get a lot more freedom by cutting tax rates when you're close to the peak of the laffer curve.
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    10-01-2024, 12:26 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    The laffer curve is just an economic fact, it's not something to hate. 100% tax rates would not be a good thing comrade. Whether lower tax revenue is a good thing is complicated. It can be a bad thing if it gets replaced with inflation. Like now. If it forces government cuts it's a good thing. You could say that lower tax revenue will lead to hyperinflation faster, which may lead to cuts in government faster.
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    10-01-2024, 09:51 AM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    Its not an exact number, probably around 30% from what I remember. It also depends on who you're taxing. It's probably higher for lower incomes, since they can't avoid the tax. That's why countries like Sweden have a high rate on the poor but a low corporate rate for example.
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    09-30-2024, 12:55 PM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    Although tax revenue is not always going up when you factor in inflation. Anyway there's a point where tax rates get too high and tax revenues fall. If you disagree tell me what tax revenues would be if the rate was 100%. Lowering tax rates down to at least the peak of the laffer curve is as close to a free lunch in economics as you're going to get. Supporting the idiotic war in Ukraine may not make you a full blown neocon but it sure is a good start.
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    09-29-2024, 08:53 AM
    Madison320 replied to a thread Trump tells Reason Mag he plans to grow his way out of the debt in U.S. Political News
    Tax revenues have gone up many times following tax rate cuts. It depends on where you are on the laffer curve. True. The increased tax revenue from cutting rates doesn't come close to closing the deficits caused by spending. I'm confused about why you're complaining about it since you're in the neocon camp.
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    09-21-2024, 08:06 AM
    Madison320 replied to a thread The Fed Hits the Panic Button and Slashes the Fed Funds Rate in Economy & Markets
    This time is different because they're cutting rates when the threat of price inflation is at an all time high. Previously they had room to cut because inflation pressure was much lower than it is now.
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    09-21-2024, 07:58 AM
    Madison320 replied to a thread Rand Introduces Six Penny Plan to Balance the Federal Budget in Five Years in Rand Paul Forum
    I agree. At some point we're going to get high to hyperinflation from the debt and the debt will be the big story. That's when the guys who were warning about the debt will have a chance to win. Until then we'll continue to live in a fantasy world. I never actually looked up the meaning of "the great reset" but in my mind it's when the west goes bankrupt and has to live within its means. I think in 20 years they'll be studying it. And then in another 50 they'll be ignoring it.
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    09-19-2024, 12:19 PM
    Madison320 replied to a thread The Fed Hits the Panic Button and Slashes the Fed Funds Rate in Economy & Markets
    I think they timed it pretty good for Harris (I should say, The Machine). The market will get an immediate bump but prices won't start skyrocketing until after the election. I think whoever gets elected is going to be dealing with an economic disaster. If you thought price inflation was high in 2021, just wait.
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    09-17-2024, 02:37 PM
    Madison320 replied to a thread How are you streaming football? in Open Discussion
    Ok, so I had a setback to my plan. Everything was going well until monday night football last night. It turns out that ESPN Plus does not carry games that are on ESPN! WTF? You would think ESPN "Plus" would include ESPN "Plus" other stuff but it doesn't. It's a separate unrelated service. The only way you can get ESPN is thru another service like fubo, youtubetv, dish, etc. So eff them. I'll just watch the games that are not on ESPN (or ABC I think). Apparently the cheapest option for espn is sling orange at 40 a month. So that's 56 a month in total but I don't think I get abc.
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    09-16-2024, 04:36 PM
    Madison320 replied to a thread FL-Second assassination attempt on Trump fails at his Palm Beach golf course in U.S. Political News
    "tone things down" must be secret code for "support all wars".
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    09-11-2024, 12:38 PM
    Madison320 replied to a thread The oficially **official** Trump vs. Harris "debate" thread in U.S. Political News
    I didn't watch the debate but I saw a clip where harris strung together about 5 blatant lies and the moderators never even questioned her about them. I think after the dust has settled the main takeaway of the debate is going to be the blatant bias of the media, not any actual content of the debate. And that's probably going to help trump.
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  • Madison320's Avatar
    09-11-2024, 09:46 AM
    Madison320 replied to a thread How are you streaming football? in Open Discussion
    I never watch any of the "in-between" stuff. There's too much politics inserted into everything. I usually use commercials and pregame and halftime to do stuff around the house. You can get a lot done that way.
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    09-11-2024, 09:03 AM
    Madison320 started a thread How are you streaming football? in Open Discussion
    I was using fubo to stream football but it was expensive (about $75 a month), then I moved and now it's over $100, partly because there's a regional sports fee in my area ($15). Anyway that's way too much considering I only use fubo to watch football. The other major live tv services are about the same (hulu,youtubetv,directtv) I'm out of range of antenna channels so what I ended up doing is getting each major channel separately using roku. Fox sports was free, peacock(nbc) was $8 a month, epsn plus (I think covers abc) was $11. I haven't signed up for paramount (cbs) yet but I probably will. It's $8 a month. So that's $27 a month plus those channels come with a lot of extra stuff like movies. So far so good.
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  • Madison320's Avatar
    09-09-2024, 12:18 PM
    Madison320 replied to a thread Babylon Bee lampoons January 6th lolz (VIDEO) in U.S. Political News
    Jan 6 was pretty violent and I was one of the few here to say it was wrong, but the BLM protests were orders of magnitude worse. I was living in the suburbs of nashville and we had curfews on several nights! WTF? I think a couple dozen people were killed nationwide. And the victims were innocent private citizens at their homes and businesses. Jan 6 was stupid but at least they were targeting a government building and not going after private citizens.
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  • Madison320's Avatar
    09-04-2024, 06:08 PM
    Madison320 replied to a thread Trump and Harris Ignore a Great Danger Facing America in Ron Paul Forum
    My "theory" is that the interest payments on the debt is the mathematical brick wall. Interest payments over the last 12 months is over 900 billion and consumes over 18% of our tax revenue (according to the debt clock). It just flew past military spending. We're getting close to a debt death spiral where we have to print to pay the interest, which drives up rates, which drives up the interest payments, which causes us to have to print even more leading to hyperinflation. I'm guessing about 40% is the point of no return but I have no historical data to back that up.
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    09-04-2024, 08:19 AM
    Madison320 replied to a thread Trump threatens Zuckerberg with life in prison in U.S. Political News
    Just quit using it.
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    09-04-2024, 07:24 AM
    Madison320 replied to a thread Trump threatens Zuckerberg with life in prison in U.S. Political News
    I agree. That's how it's supposed to work. Just quit using facebook. Don't use the government to "get even" with facebook.
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