Correct, it encourages spending. Of course, other than eliminating redundancies and jaiing the corrupt, very little seems to discourage congress and the WH from spending (Not their) money...
How abt bring back manufactturing home and increase the number of people employed, keep tax rates unchanged, cut down on spending. Divest Assets if any to private players. Worst case scenario.. revalue the Dollar
Medicare/medicaid make up a quarter of federal spending. If we can have healthier adults, we would spend less on healthcare. Maybe we can all eat healthier and exercise and stop smoking.
@@bobbyboucher6316 The world. The only way we survive is because they buy our debt. Once they figure out the US is a Ponzi scheme and they stop buying, it's over.
No one in the federal government shoud get paid until the budget is balanced. If you are spending more than you make, you didn't actually earn an income.
You have this exactly backwards. Public spending is private income. If you "balance" the budget you create an economic depression of the the private sector.
balancing the budget is absolutely absurd. The budget is used in various ways to support downturns in the economy. If you were going to balance it it would create an economic crash, the likes of which we have never seen. Of course, trying to go after the military budget, which is our biggest wasteful non-economic thing we do, always brings out calls of treason.
if 50% across the board, how will the elderly in your family do when you tell them you will cut SS and Medicare by 50%? Honest question. That is the dilemma. Cut military spending, excellent idea. Stop funding genocide in Israel, excellent idea. Cut grandma's SS check, bad idea.
YES Im with you comrade!!!! Raise taxes on the 200k and over, and cut all the spending yes. but do NOT cut disability or raise medicaid rates. those are sacred.
@@MAchannel2024that doesnt have to be what he means (even if he meant that). If you take the overall budget , that entire number, then CUT IT IN HALF, preserving disability and social security and medicare and ACA as is- youd be able to cut military, foreign aid, corrupt dollars and all the administrative garbage in the fake social services that dont work in the U.S. INSTEAD.
It's the spending. 50% of our spending are transfer payments. Transfer Payments are spent on Social Security, Medicare, Medicaid, unemployment insurance, veterans benefits, and other forms of income assistance, meaning recipients typically use these funds to cover basic needs like healthcare, food, housing, and everyday living expenses, often contributing to local economies where they reside.
Your little brain couldn't fathom the consequences if we actually stopped. But, you are another low iq citizen who has zero knowledge on economics. Get back to your sad 9-5
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
*Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advsor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.*
*TRUDY ELIZABETH STOUFFER* . .. has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
When has increasing taxes fixed anything other than congress' itch to wastefully spend taxpayer money in order to fulfill the wants and needs of those that put them in office???
@@ireneduffy3014 It absolutely is true. I don't give a fig about his contrived tax tables that ignore cause and effect. And don't assume I haven't looked at them.
This is 100% accurate. Raising taxes without reigning in spending does absolutely nothing, it just makes government an even larger business than they already are.
We are starting to tic off another trillion dollars in interest every hundred days. Broke left town a long time ago. I think we should be longing for the days when we were just broke.
@@drewm217 If managed properly, no. Goverment can fund infrastructure projects,that can boost economy with this extra income. Check again the graph with the lowest debt/gdp ratio , look at the times where this ratio is at its lowest.
We do not have. an under-tax problem. We have an overspending problem. Why do liberals refuse to understand that tax cuts when combined with reduce spending result in economic growth that results in increased tax revenues to the government? Happened every time... JFK, Ronald Reagan, Bill Clinton, Trump.
Becoming a good trader takes time and patience. When I first got into trading I was liquidated twice and I lost my entire mortgage deposit. I could have given up. But I decided to learn how to tradei put it to practice. I'm glad I made that decision today.
The process of trading can be complicated when you have limited knowledge. However with the right strategy and setup, you can be successful. That's the whole point of investing. I got into the market 10k and up to 76k in a short period of time. I was able to build a business from my returns
Jones is a billionaire. He is immune to everything he's proposing. 1. $35 trillion in debt means America is already broke. 2. WRONG: Raising taxes does not work. It's been proven, the higher the tax rate, the lower the tax receipts. Jones should know this. When you raise taxes on people, they will not pay if they need that money to live. Raise taxes on business and it slows hiring and economic growth when too large of a percentage of gross income is paid in taxes and other related employment expenses rather than spent on hiring employees and expansion. Jones should know this too. 3. Expenses must be cut at the federal and state levels. Redundant and unnecessary federal & state employees must be furloughed, federal programs must be cancelled or dramatically reduced, any non-national security related grants must be cancelled, and that includes cancelling hundreds of billions paid out to support millions of illegal aliens, NGO's must be defunded, Federal agencies must be closed, merged or take severe budgets cuts and reduction in their missions and staffing levels, that includes military, especially overseas wars, military personnel support, munitions, etc. US can't continue being the world police when doing so creates additional national debt and thus threatens US national security. After listening to his statements, it is plainly obvious Jones has an agenda that aligns more with the WEF than the citizens of America.
I agree with all the points that you’ve made, except the last one about Paul and the WEF. I think he was mentioning the tax increases only as a means to keep up with the ballooning deficit and the interest payments. I think what he would prefer is what you have proposed above.
The Ryan tax cuts. The Congressional Budget Office (CBO) estimated in 2018 that the 2017 law would cost $1.9 trillion over ten years. Together with the 2001 and 2003 tax cuts enacted under President Bush (most of which were made permanent in 2012), the law has severely eroded our country’s revenue base. Revenue as a share of GDP has fallen from about 19.5 percent in the years immediately preceding the Bush tax cuts to just 16.3 percent in the years immediately following the Trump tax cuts. Trump administration officials claimed their centerpiece corporate tax rate cut would “very conservatively” lead to a $4,000 boost in household income. Research shows that workers who earned less than $114,000 on average in 2016 saw “no change in earnings” from the corporate tax rate cut, while top executive salaries increased sharply. The best way to explain trickle down economics they pee on your back and tell you raining.
" Were gonna be broke really quickly " , they have been saying the deficit was going to break us for the last 50 years , I recall as a child this was always the talk !
You’re right but here’s the kicker. If we would have dealt with it 50 years ago we wouldn’t be facing such a dire circumstance today. The fact that we’ve kicked the can down the road for 50 years is just going to made the collapse catastrophic.
Well, it will be kicked 4 years further down the road, the markets will hold no matter who wins. Now, worry about the Elections in 2028, nobody will want the job.
Exactly, 50 years of wreck-less monetary policy is the reason we are finally seeing the massive inflationary impact by a huge lagging effect. Now the chickens have come home to roost.
@@vitbing Where households can only outspend their income for years, governments can do it for generations. I honestly don’t think we have long at the pace of today’s multi trillion annual deficits. We’ll see but it’s gonna be ugly once it finally happens.
Yes, historically gov has corruptly inflated away the problem - doesn’t make it right and it winds up further impoverishing the very people that have the least. Billionaires will will be fine - everyone else loses. Massive spending cuts and short term major pain is needed. Inflating the problem away has also historically also lead to hyperinflation/fascism and communism. Paul left that part out….
@@ckchong8858 weimar Republic is a lesson from time, but I get it this is the same mentality the left has and many of the right, just print print print but it doesn't work that way, we are no longer the worlds reserve currency, China and Russia are soon to take that away completely and you think inflation is bad now......get your wheel barrel ready
@@ckchong8858 the worlds reserve currency is no longer the dollar....this is the way the left thinks....print print print....tell me sir can you buy more goods and services today with 100k than you could 4 years ago? The answer is unequivocally NO
Paul wants to raise taxes so we all have less money to spend. And then he wants to “inflate” our way out of the debt-so everything we buy requires more of our smaller income. True wisdom from a billionaire.
We have to address the spending deficit at some point. This is the only analyst I’ve seen speak on a potential solution for the deficit. It’s concerning that neither candidate has a plan to address the deficit issue.
Make every department pass an audit or they have compounded cut in budget 10% annually. This starts day 1 in office and needs to have an official audit report submitted by August 15th. If DOD can’t pass an audit by that time, then its budget is cut 10%. You’ll see a robust amount of money showing up all the sudden. I’d also cap increases in spending at 1% annually for the next 10 years. The government needs to learn how to do what they do without more spending. Cut taxes for all brackets, cut taxes on business, and leverage tariffs on industry/countries that you won’t to bring back home.
Inflation ends up being a flat percentage rate tax that the Fed can crank up and down without congress. The inflation that started during covid till now essentially taxed every dollar about 20%. Where does the value of the that 20% go? It goes to people and other entities that owe money. It's a transfer of wealth from cash holders to everyone who is in debt- including the Federal government. Inflating your way out of debt works, but it's very inefficient and tends to make anyone who owes money and owns assets wealthier in the process- which tends to be people who already have a crapload of wealth.
Deficit spending is good for the economy. It stimulates the economy and increases sovereign credit. It’s not a PNL sheet. The main check is the debt to GDP ratio, and the US is still lower than Japan. Japan has been redlining it since the 1980s and their economy is stable. It’s not booming, but that has to do with the middle income gap problem, not debt.
We have been broke for decades but we conned the world into letting us operate the printing press. No one lent the US $35 trillion worth of anything real.
You must also look at assets relative to debt. The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP). If Debt rises more slowly than value of assets (value of stock market, real estate, etc...) then that is Good because Equity (asset-liability) rises.
I’m sorry…..i dont understand. If i have too much debt at home, and it keeps growing, my response is not go out and find another job and earn more money. I guess it could be but then I’m exhausted….no I think what i should do is cut spending. Oh yah, that old trick.
We are bankrupt beyond comprehension. The debt based monetary system requires that debt be created in perpetuity. Exponential growth of debt is the only way to keep the system running until debt spikes parabolically to infinity, and we are getting very close, perhaps around 2030 to 2033.
Check his appearence from a year ago,dead against equity investment which has gone straght up,these guys were in the right place at the right time with funding and connections and all the breaks they are no smarter or better than average at calling markets
The problem with all these solutions is politicians will just increase spending proportionately as well in order to buy votes so you won’t solve the problem but will be worse off as government is now that much bigger.
Thanks for the analysis! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
Tax hikes would only encourage more spending by congess. They've proven again and again that they will spend as much as possible, always. Interesting that nobody asks WHY medicare and medicaid take up half of the entire budget, and are continuously increasing way above GDP growth.
IRS atutomated, Get rid of Dept of Education and move to state, Dept of transportation move to the state. Military put on Performance Based Logistics. Privatize prison at all levels. Privatize medicare. Stop taking the Social Security into the government and move the money into Gold and Bitcoin.
Any US government program that has been in effect for over 1 year should be evaluated for performance, and IF the program has delivered on its intended goal or demonstrated progress. The program should continue to be funded. If no progress has been demonstrated or there has been bad spending habits identified. The program should be SHUTDOWN and money re-allocated to the next program or to existing successful programs.
I will make it easy for some of you to understand how bad our dept is. If we paid 1 billion each day to pay our debt.....it would take 35 thousand days or 100 years to just pay off our current debt.....this would not count what debt we incur as we are paying the current one off.
😂😂😂😂😂 . When the smartest becomes the fool. Why will you want to pay of all of the dept when you clearly know that dept is peg with money. To make it easy for you. Money is dept . The only different money is fix but dept compounds . If dept was to be paid of no money would exist in the circulation. If the us government wants to rely reduce their debt they should just quote there interest rates below the inflation rate. Or they should just propose negative interest rates instead. If you do your math large percentage of dept is interest not the principal.
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"Inflated away their debts" - most important thing he said. All roads lead to high inflation.
Raising taxes doesnt fix spending
Agreed cutting spending fixes cutting spending. We need to choke off the private sector tap to the government.
Fixing spending does not remove debt... or interest, we are taking about a math problem of how to eliminate debt, not to compare it's elements.
Correct, it encourages spending. Of course, other than eliminating redundancies and jaiing the corrupt, very little seems to discourage congress and the WH from spending (Not their) money...
How abt bring back manufactturing home and increase the number of people employed, keep tax rates unchanged, cut down on spending. Divest Assets if any to private players.
Worst case scenario.. revalue the Dollar
😂😂😂😂how about proposing negative interest rates.
Federal government is a big fat pig - stop spending, balance the budget
Cry little boy, cry
This is balancing the budget. Did you not watch the video? This is his idea for actually reducing the debt.
Pass a balanced budget law, simple.
Medicare/medicaid make up a quarter of federal spending. If we can have healthier adults, we would spend less on healthcare. Maybe we can all eat healthier and exercise and stop smoking.
So is your wife, so who cares
We're going to be broke really quickly? Aren't we broke now? When you owe $35,000,000,000,000, you're broke.
Amen
This country was broke far earlier than the 35 trillion-dollar mark. By the way, the USA is currently closer to 36 trillion than 35 trillion.
Who do we owe it too ?
@@bobbyboucher6316 The world. The only way we survive is because they buy our debt. Once they figure out the US is a Ponzi scheme and they stop buying, it's over.
@@bobbyboucher6316 The pension fund and the institution many more bond holders
No one in the federal government shoud get paid until the budget is balanced. If you are spending more than you make, you didn't actually earn an income.
Low iq comment
You have this exactly backwards. Public spending is private income. If you "balance" the budget you create an economic depression of the the private sector.
Thats literally insane...Clinton's balanced it for a short time and there was no depression..
balancing the budget is absolutely absurd. The budget is used in various ways to support downturns in the economy. If you were going to balance it it would create an economic crash, the likes of which we have never seen. Of course, trying to go after the military budget, which is our biggest wasteful non-economic thing we do, always brings out calls of treason.
The USA can't tax its way out of this mess.... Spending has to be reduced...
We simply cannot afford this government its size and waste.
And corruption
Need trump go in and mow the weeds from the swamp
so cut military budget in half? got it
CUT SPENDING. 50% across the board
if 50% across the board, how will the elderly in your family do when you tell them you will cut SS and Medicare by 50%?
Honest question. That is the dilemma.
Cut military spending, excellent idea. Stop funding genocide in Israel, excellent idea.
Cut grandma's SS check, bad idea.
Unrealistic and ridiculous go buy trumps bible
YES Im with you comrade!!!! Raise taxes on the 200k and over, and cut all the spending yes. but do NOT cut disability or raise medicaid rates. those are sacred.
@@MAchannel2024that doesnt have to be what he means (even if he meant that). If you take the overall budget , that entire number, then CUT IT IN HALF, preserving disability and social security and medicare and ACA as is- youd be able to cut military, foreign aid, corrupt dollars and all the administrative garbage in the fake social services that dont work in the U.S. INSTEAD.
@@MAchannel2024 Why does your elderly in your family rely on Government?
It's the spending. 50% of our spending are transfer payments. Transfer Payments are spent on Social Security, Medicare, Medicaid, unemployment insurance, veterans benefits, and other forms of income assistance, meaning recipients typically use these funds to cover basic needs like healthcare, food, housing, and everyday living expenses, often contributing to local economies where they reside.
Thank you for speaking truth to power Paul
Number one option - STOP PRINTING MONEY.... WE ARE BROKE.
Your little brain couldn't fathom the consequences if we actually stopped. But, you are another low iq citizen who has zero knowledge on economics. Get back to your sad 9-5
Spend less on stupid things like subsidizing illegal immigration, funding wars, bureaucracy... and not raise tax on the PEOPLE!
America must start to slow down the debt growth and then begin to start paying off the insane debt.
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
If you lack knowledge about market investing tactics, get advice from a financial counselor.
*Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advsor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.*
I could really use the expertise of this advsors.
*TRUDY ELIZABETH STOUFFER* . .. has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
When has increasing taxes fixed anything other than congress' itch to wastefully spend taxpayer money in order to fulfill the wants and needs of those that put them in office???
Corporations need to pay more tax. At 25%, corporations would still NOT be paying their fair share.
Either way the debt will go up and our tax dollars will go to waste
Raising taxes only punishes the producers and doesn't fix spending. It also stifles growth.
That is not true at all. Please look at the historical tax tables.
@@ireneduffy3014 It absolutely is true. I don't give a fig about his contrived tax tables that ignore cause and effect. And don't assume I haven't looked at them.
This is 100% accurate. Raising taxes without reigning in spending does absolutely nothing, it just makes government an even larger business than they already are.
Get real
We are starting to tic off another trillion dollars in interest every hundred days. Broke left town a long time ago. I think we should be longing for the days when we were just broke.
notice, absolutely no cut in spending from this guy
he mentioned it in the first part of the interview
Why not reduce spending. Why is the solution always to raise taxes
Recession
Massive job loss. You think taking a few trillion $ out of the economy won’t be a catastrophe?
@@drewm217 If managed properly, no. Goverment can fund infrastructure projects,that can boost economy with this extra income. Check again the graph with the lowest debt/gdp ratio , look at the times where this ratio is at its lowest.
@@aggelosvasilis7457 if that’s the case then why not spend all the money on infrastructure projects? Government projects are managed so well.
@@aggelosvasilis7457 study the mid-late 1930s for an example of decreased govt spending after a few years of massive spending
We do not have. an under-tax problem.
We have an overspending problem.
Why do liberals refuse to understand that tax cuts when combined with reduce spending result in economic growth that results in increased tax revenues to the government? Happened every time... JFK, Ronald Reagan, Bill Clinton, Trump.
Yet Republicans governments almost always run higher deficits.
there was no growth with trump. He increased the deficit... lol.
You call Trump's record a reduction in spending?!
🤔
@@DodgyJŦrum And what about the Trump Tax Cuts?
Bill Clinton ran a surplus. What a G. And not meaning big government by G.
We work for years to earn £1million on our retirement while some people put thousands of dollars in bitcoin and they become millionaires
I came here to learn how to trade after listening to this video I'm still confused, I'm a newbie and I'm open to ideas.
Becoming a good trader takes time and patience. When I first got into trading I was liquidated twice and I lost my entire mortgage deposit. I could have given up. But I decided to learn how to tradei put it to practice. I'm glad I made that decision today.
The process of trading can be complicated when you have limited knowledge. However with the right strategy and setup, you can be successful. That's the whole point of investing. I got into the market 10k and up to 76k in a short period of time. I was able to build a business from my returns
Trading,,,,without any guilde is so risky you need a good Mentor like Charles Tyson strategy to guide your trades,,,,,
Please how do I get in touch with Charles Tyson , i would love to trade with him
Jones is a billionaire. He is immune to everything he's proposing. 1. $35 trillion in debt means America is already broke. 2. WRONG: Raising taxes does not work. It's been proven, the higher the tax rate, the lower the tax receipts. Jones should know this. When you raise taxes on people, they will not pay if they need that money to live. Raise taxes on business and it slows hiring and economic growth when too large of a percentage of gross income is paid in taxes and other related employment expenses rather than spent on hiring employees and expansion. Jones should know this too. 3. Expenses must be cut at the federal and state levels. Redundant and unnecessary federal & state employees must be furloughed, federal programs must be cancelled or dramatically reduced, any non-national security related grants must be cancelled, and that includes cancelling hundreds of billions paid out to support millions of illegal aliens, NGO's must be defunded, Federal agencies must be closed, merged or take severe budgets cuts and reduction in their missions and staffing levels, that includes military, especially overseas wars, military personnel support, munitions, etc. US can't continue being the world police when doing so creates additional national debt and thus threatens US national security. After listening to his statements, it is plainly obvious Jones has an agenda that aligns more with the WEF than the citizens of America.
US has all this benfenits that they have by being the police of the world. If you stop doing that ,people wont buy your bonds...
I agree with all the points that you’ve made, except the last one about Paul and the WEF. I think he was mentioning the tax increases only as a means to keep up with the ballooning deficit and the interest payments. I think what he would prefer is what you have proposed above.
Glad someone like you isn't making decisions lmao
He's telling us the cure. A very painful treatment plan.
Allowing people rather than government to keep more of their money, is not a "spending problem".
We have a serious lack of leadership in this country.
Surely spending cuts are the way - you can’t have half the economy being government
The Ryan tax cuts. The Congressional Budget Office (CBO) estimated in 2018 that the 2017 law would cost $1.9 trillion over ten years. Together with the 2001 and 2003 tax cuts enacted under President Bush (most of which were made permanent in 2012), the law has severely eroded our country’s revenue base. Revenue as a share of GDP has fallen from about 19.5 percent in the years immediately preceding the Bush tax cuts to just 16.3 percent in the years immediately following the Trump tax cuts. Trump administration officials claimed their centerpiece corporate tax rate cut would “very conservatively” lead to a $4,000 boost in household income. Research shows that workers who earned less than $114,000 on average in 2016 saw “no change in earnings” from the corporate tax rate cut, while top executive salaries increased sharply. The best way to explain trickle down economics they pee on your back and tell you raining.
I'd also reduce Defense spending. $800 billion per year is ridiculous.
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They gotta get rid of Sorkin…Or somebody in upper management needs to sit his butt down and teach him how to interview people👎😑🤦♂️
" Were gonna be broke really quickly " , they have been saying the deficit was going to break us for the last 50 years , I recall as a child this was always the talk !
You’re right but here’s the kicker. If we would have dealt with it 50 years ago we wouldn’t be facing such a dire circumstance today. The fact that we’ve kicked the can down the road for 50 years is just going to made the collapse catastrophic.
Well, it will be kicked 4 years further down the road, the markets will hold no matter who wins. Now, worry about the Elections in 2028, nobody will want the job.
Exactly, 50 years of wreck-less monetary policy is the reason we are finally seeing the massive inflationary impact by a huge lagging effect. Now the chickens have come home to roost.
@@vitbing
Where households can only outspend their income for years, governments can do it for generations. I honestly don’t think we have long at the pace of today’s multi trillion annual deficits. We’ll see but it’s gonna be ugly once it finally happens.
gee tax cuts must go but we can’t stop spending
Yes, historically gov has corruptly inflated away the problem - doesn’t make it right and it winds up further impoverishing the very people that have the least. Billionaires will will be fine - everyone else loses. Massive spending cuts and short term major pain is needed. Inflating the problem away has also historically also lead to hyperinflation/fascism and communism. Paul left that part out….
Take the crack pipe of “spending” away from the Federal Government and everything else will fall in line
You won't be broke if you have the money printer!
$390 billion went to Ukraine, cut that
Sir you must not know of the weimar Republic....
@@brianoneal2547 This is the USA, too big to fail country. Too many countries depend on USA. Weimar Republic story doesn’t apply.
@@ckchong8858 weimar Republic is a lesson from time, but I get it this is the same mentality the left has and many of the right, just print print print but it doesn't work that way, we are no longer the worlds reserve currency, China and Russia are soon to take that away completely and you think inflation is bad now......get your wheel barrel ready
@@ckchong8858 the worlds reserve currency is no longer the dollar....this is the way the left thinks....print print print....tell me sir can you buy more goods and services today with 100k than you could 4 years ago? The answer is unequivocally NO
Paul wants to raise taxes so we all have less money to spend. And then he wants to “inflate” our way out of the debt-so everything we buy requires more of our smaller income. True wisdom from a billionaire.
Oh please Paul! The ship sailed. We're Zimbabwe. Buy your beans, rice and toilet paper while you can still pay for it.
...and bitcoin
Thanks Paul, but our politicians only care about themselves and their party staying in control. None of you suggestions will happen, unfortunately!
I agree with Tudor but at the same time we must cut spending or this is all a waste
Nothing stops this train.
I fully support major spending cuts in our budget. Let's start with the military budget.
Buy Gold, Silver, Bitcoin
I'm good on all those until 2026.
Maybe we shouldn't of given 600 Billon to Ukraine after all.
80% was equipment which went back to US jobs making new materials. You aren't very bright are ya kid?
^ of which defense contractors execs and ceos made a nice bonus :) Thats where your money is going. Straight to the rich, the usual with the US.
@@TheSlimjim13579 War profiteering is disgusting.. And it's sick to think that's a good thing. Lord have mercy
@@leagueplays2100 Exactly, that's why the rich elite's went all in on the war.
@@fkrr5 You aren't very bright are ya lol
This guy lives in my town🙌🏽🙏🏽
Government spending is the root cause of (the upcoming) inflation
Raising taxes and fixing spending. Both are equally valid. I have heard cut spending all of my life.
So... Our country is totally been mismanaged for so long.
We have to address the spending deficit at some point. This is the only analyst I’ve seen speak on a potential solution for the deficit. It’s concerning that neither candidate has a plan to address the deficit issue.
Make every department pass an audit or they have compounded cut in budget 10% annually. This starts day 1 in office and needs to have an official audit report submitted by August 15th. If DOD can’t pass an audit by that time, then its budget is cut 10%. You’ll see a robust amount of money showing up all the sudden. I’d also cap increases in spending at 1% annually for the next 10 years. The government needs to learn how to do what they do without more spending. Cut taxes for all brackets, cut taxes on business, and leverage tariffs on industry/countries that you won’t to bring back home.
The problem with raising taxes is that it produces less revenue.
You are absolutely correct! Haven’t these people heard of the Laffer curve, sheesh.
No, the problem with raising them is the government still has to use the money better.
Inflation ends up being a flat percentage rate tax that the Fed can crank up and down without congress. The inflation that started during covid till now essentially taxed every dollar about 20%. Where does the value of the that 20% go? It goes to people and other entities that owe money. It's a transfer of wealth from cash holders to everyone who is in debt- including the Federal government. Inflating your way out of debt works, but it's very inefficient and tends to make anyone who owes money and owns assets wealthier in the process- which tends to be people who already have a crapload of wealth.
Not forgiving over $175 billion in student load debt might have helped...
News flash!
We are already bankrupt
We passed broke a long time ago
The elephant in the room is social security
Deficit spending is good for the economy. It stimulates the economy and increases sovereign credit. It’s not a PNL sheet. The main check is the debt to GDP ratio, and the US is still lower than Japan. Japan has been redlining it since the 1980s and their economy is stable. It’s not booming, but that has to do with the middle income gap problem, not debt.
We have been broke for decades but we conned the world into letting us operate the printing press. No one lent the US $35 trillion worth of anything real.
Everyone over 200 grand? After all this flipping inflation? This has been the worst 4 years in history.
Damn you're still that poor? Maybe get off RUclips and get your life together. Crying little weak man
Read some recent economic book, it was only 40 years ago the interest rates were 10%~20%. So stop being dramatic, you are showing your ignorance.
@ speaking of ignorance, you know the difference between taxation and inflation, right?
$20 says they'll force deflation so the can lower rates on debt instead
You must also look at assets relative to debt. The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP). If Debt rises more slowly than value of assets (value of stock market, real estate, etc...) then that is Good because Equity (asset-liability) rises.
That is what I have been trying to say.
doesn't matter nobody will be buying bonds
Budget Line item veto would be a way to help, if we could get that back.
Woah check out his eye at 1:04, 1:54, 3:22. That's not a digital distortion. Every time we see his left-eye it's like that.
I’m sorry…..i dont understand. If i have too much debt at home, and it keeps growing, my response is not go out and find another job and earn more money. I guess it could be but then I’m exhausted….no I think what i should do is cut spending. Oh yah, that old trick.
Make Elon Musk the head of the Dept of Government Efficiency. You'll see how fast these problems get sorted out.
How about we spend less on Ukraine and keep the tax cuts?
You realize 80% of that was equipment right? Or are you too stupid to know that information
How would the government fund the US industrial complex then?
Grow the economy to lessen debt. More employment = more income taxes, and SS taxes, and medicare taxes.
The root cause of this problem is finding a politician who believes this is a problem and wants to take action. Until that happens this is all noise
We are bankrupt beyond comprehension. The debt based monetary system requires that debt be created in perpetuity. Exponential growth of debt is the only way to keep the system running until debt spikes parabolically to infinity, and we are getting very close, perhaps around 2030 to 2033.
We need to Start producing a lot of oil and sell it internationally. That will help a lot
Check his appearence from a year ago,dead against equity investment which has gone straght up,these guys were in the right place at the right time with funding and connections and all the breaks they are no smarter or better than average at calling markets
The problem with all these solutions is politicians will just increase spending proportionately as well in order to buy votes so you won’t solve the problem but will be worse off as government is now that much bigger.
Laffer Curve.....Our financial situation is a dynamic, not static. I think this story ends with tortured explanations of what defaulting isn't.
what a tiresome interviewer. let him speak.
Or increase production. We cannot tax ourselves into prosperity.
Does anyone know the website that PTJ is referring to where you can mess around with the govt spending and tax plans?
we are broke yet we are rich
Thanks for the analysis! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
One key assumption to inflate out of the debt is that the whole world are still willing to use the dollar. What if they don't?
Cut the government in half to start with.
Discretionary spending makes up 1/3 of the federal budget. Start there.
What is the website he referenced that allows you to do a scenario analysis
National Debt is crippling USA
We need national security and build roads - the rest can be cut
lmao
We are already broke, have been for awhile now. HEELLLLOOOO
Tax hikes would only encourage more spending by congess. They've proven again and again that they will spend as much as possible, always. Interesting that nobody asks WHY medicare and medicaid take up half of the entire budget, and are continuously increasing way above GDP growth.
@ 3:31 hey Sorkin... ha ha ha ha ha
IRS atutomated, Get rid of Dept of Education and move to state, Dept of transportation move to the state. Military put on Performance Based Logistics. Privatize prison at all levels. Privatize medicare. Stop taking the Social Security into the government and move the money into Gold and Bitcoin.
Anyone know what website he's referring to around the 2 minute mark?
The working people have to be taxed much more to fix this mess. No thanks
Any US government program that has been in effect for over 1 year should be evaluated for performance, and IF the program has delivered on its intended goal or demonstrated progress. The program should continue to be funded. If no progress has been demonstrated or there has been bad spending habits identified. The program should be SHUTDOWN and money re-allocated to the next program or to existing successful programs.
"I don't think we can really cut spending" AFUERA .
Trump is smarter than thus dude.
Interesting how the way he gets paid (capital gains) tax doesn’t need to change….
Audit expenses ASAP. Then CUT asap. No wait, JUST CUT
How about the government stops spending money on stupid things?!?!?
Truth on CMSNBC? Shocking.
anyone know the website he references?
I will make it easy for some of you to understand how bad our dept is.
If we paid 1 billion each day to pay our debt.....it would take 35 thousand days or 100 years to just pay off our current debt.....this would not count what debt we incur as we are paying the current one off.
😂😂😂😂😂 .
When the smartest becomes the fool.
Why will you want to pay of all of the dept when you clearly know that dept is peg with money.
To make it easy for you.
Money is dept . The only different money is fix but dept compounds .
If dept was to be paid of no money would exist in the circulation.
If the us government wants to rely reduce their debt they should just quote there interest rates below the inflation rate.
Or they should just propose negative interest rates instead.
If you do your math large percentage of dept is interest not the principal.
Not to worry - Fed will print more money - and the asset bubble will grow. There is no other way.
Pay attention “we clearly are going to have a contraction” how about cut spending 1st