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  1. #13
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    Re: Presidential Candidate Q & A on Recreational Fishing

    Of the aproximate 15 trilion in national debt that we have, the chinks only own about 8 percent of it. two thirds is owned domestically by either entities of the fed. govt like the social security admin. or individual investors.

    Hell no and it aint over now.......

  2. #14
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    Re: Presidential Candidate Q & A on Recreational Fishing

    TT,
    Thanks for the info, i know a lil about money ..but dude yer like light years ahead of me.Although i believe i am correct on the other things i mentioned.


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    Re: Presidential Candidate Q & A on Recreational Fishing

    Quote Originally Posted by Lonewolve View Post
    TT,
    Thanks for the info, i know a lil about money ..but dude yer like light years ahead of me.Although i believe i am correct on the other things i mentioned.
    Vigilance should always be welcomed in our republic!!

    Hell no and it aint over now.......

  4. #16
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    Re: Presidential Candidate Q & A on Recreational Fishing

    Quote Originally Posted by Trouser Trout View Post
    Reality check...... the chinks can't "call in the debt" it is in the form of treasury bills, bonds and notes which have no call provision, quite frankly they are nuts for pruchasing it because of its unbelievable low interst rate, and the overwhelming amount of our debt is owed to ourselves.
    So your saying... America is in debt to itself?? Very interesting..

    "Life's hard. It's even harder when you're stupid."
    -John Wayne

  5. #17
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    Re: Presidential Candidate Q & A on Recreational Fishing

    This is a great thread. The ND is 16 trillion but if you include State County and Local government debt on top of that, it closer to 20. Last year I kept a record of tax expenses that I paid in a spread sheet (Income, sales, property and tax surcharges for energy and telephone.) So I basically calculated “True tax” At the end of the year I hit the summation command in excel and I was astonished. It came to 40% of my gross income. Think about it 40%. I worked from January through May for the Government in some form. There is some irony in these numbers. After you pay the federal and state income tax. You pay the other taxes on income that you have already paid taxes on. So 40% and the government still has massive debt. How much do they actually need 50 60 70% ? At what point does you personal income become irrelevant? No wonder so many Americans are underwater. The banks are not he biggest fleecier of you income they are second #1 go to the Government. I do not think this is what the founders envisioned.

    "Hatchery fish have the same colors, but they always seem muted like bad reproductions of great art." Bill Barich

  6. The Following User Says Thank You to tomfly For This Useful Post:

    Lonewolve (09-24-2012)

  7. #18
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    All our economic woes can be blamed on the private bank called the federal reserve that controls out monetary policy. Our country has been hijacked. Well it happened a long time ago, but we damn sure aint at the wheel.

    Get your facts first, then you can distort them as you please.
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    Lonewolve (10-20-2012)

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    Re: Presidential Candidate Q & A on Recreational Fishing

    The national debt really isn't the major financial catastrophe facing our country. It's the unfunded obligations for our entitlement programs needed to fund the retiring baby boomer population over the next 20 years. The estimates range from 60-70 trillion dollars owed and not one dime of it in the bank. In fact the bank is already empty and filled with IOUs. This brings us to a harsh reality and it's one no one wants to admit to on tbe left. Entitlements as we know it will have to be changed. Government will have to cut spending, and eventually taxes will be raised on everyone. Have a nice weekend.

    "Angling is extremely time consuming. That's sort of the whole point." - Thomas McGuane

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    lightenup (10-19-2012)

  11. #20
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    Re: Presidential Candidate Q & A on Recreational Fishing

    Quote Originally Posted by tomfly View Post
    This is a great thread. The ND is 16 trillion but if you include State County and Local government debt on top of that, it closer to 20. Last year I kept a record of tax expenses that I paid in a spread sheet (Income, sales, property and tax surcharges for energy and telephone.) So I basically calculated “True tax” At the end of the year I hit the summation command in excel and I was astonished. It came to 40% of my gross income. Think about it 40%. I worked from January through May for the Government in some form. There is some irony in these numbers. After you pay the federal and state income tax. You pay the other taxes on income that you have already paid taxes on. So 40% and the government still has massive debt. How much do they actually need 50 60 70% ? At what point does you personal income become irrelevant? No wonder so many Americans are underwater. The banks are not he biggest fleecier of you income they are second #1 go to the Government. I do not think this is what the founders envisioned.
    I posted this before Mitt stated that the small businesses man is paying 50% of this income in taxes. Last year the federal government received $6,418,934,570,000 in tax revenue for 2011 ( IRS website for data) and still needed to borrow 1,000,000,000,000 That Is 16.7% more then they take in.
    This is a huge problem.
    So we would all have to pay 17% more taxes to remove the deficit just to the federal government. This does not include state, county and local.
    I don’t know about you but I can not afford that.

    "Hatchery fish have the same colors, but they always seem muted like bad reproductions of great art." Bill Barich

  12. #21
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    Re: Presidential Candidate Q & A on Recreational Fishing

    Quote Originally Posted by MACFLY View Post
    The national debt really isn't the major financial catastrophe facing our country. It's the unfunded obligations for our entitlement programs needed to fund the retiring baby boomer population over the next 20 years. The estimates range from 60-70 trillion dollars owed and not one dime of it in the bank. In fact the bank is already empty and filled with IOUs. This brings us to a harsh reality and it's one no one wants to admit to on tbe left. Entitlements as we know it will have to be changed. Government will have to cut spending, and eventually taxes will be raised on everyone. Have a nice weekend.
    Not sure about the fiscal prudency of raising taxes to increase revenue. Cutting taxes has also proven to increase tax revenue by stimulating growth and creating more taxable dollars.

    Hell no and it aint over now.......

  13. #22
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    Re: Presidential Candidate Q & A on Recreational Fishing

    Quote Originally Posted by Trouser Trout View Post
    Not sure about the fiscal prudency of raising taxes to increase revenue. Cutting taxes has also proven to increase tax revenue by stimulating growth and creating more taxable dollars.
    You and I both know that the level of on book and off book debt means we can't grow our way out of this alone. Clearly not stating taxes should be raised yet but they will need to be raised if we are serious about paying off the debt. Now the question remains will the govt use those taxes to retire debt or just spend it.

    "Angling is extremely time consuming. That's sort of the whole point." - Thomas McGuane

  14. #23
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    Re: Presidential Candidate Q & A on Recreational Fishing

    Quote Originally Posted by MACFLY View Post
    You and I both know that the level of on book and off book debt means we can't grow our way out of this alone. Clearly not stating taxes should be raised yet but they will need to be raised if we are serious about paying off the debt. Now the question remains will the govt use those taxes to retire debt or just spend it.
    Their record would suggests the latter.

    "Hatchery fish have the same colors, but they always seem muted like bad reproductions of great art." Bill Barich

  15. #24
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    We all need to work harder so all of Beetle's kids parents can stay at home and get high.

    Get your facts first, then you can distort them as you please.
    Mark Twain

    http://www.savebristolbay.org/

    REAL FRIENDS DON'T LET FRIENDS SPOON FEED

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    http://www.glsteelheadco.com




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    Lonewolve (10-24-2012)

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