The Real Budget Dedit in America This Year.

Discussion in 'General Discussion' started by CharlesBHoff, Aug 22, 2006.

Remove all ads!
Support Terra-Arcanum:

GOG.com

PayPal - The safer, easier way to pay online!
  1. CharlesBHoff

    CharlesBHoff New Member

    Messages:
    1,328
    Likes Received:
    0
    Joined:
    Sep 10, 2001
    The secret which Congress and president donot want the public to know US budget is 3.5 trillion dollar in the red this year, it the government have to follow the same accounting laws and rules BIG CORPORATION have to follow.
    This figure include Social Security payment to retire or diable people, VA penion and Medicare and VA health cost and other expensive of the government.
     
  2. Grossenschwamm

    Grossenschwamm Well-Known Member

    Messages:
    7,630
    Likes Received:
    4
    Joined:
    Feb 21, 2006
    Who didn't already know that? It's so stupid, though; This is all money we owe to other countries. I honestly don't know how our money is worth anything right now.
    It only confirms what every person under 65 already knows; All of the money put into Social Security will eventually be dissolved, and no one outside of the government will be able to collect on the money.
     
  3. CharlesBHoff

    CharlesBHoff New Member

    Messages:
    1,328
    Likes Received:
    0
    Joined:
    Sep 10, 2001
    Was printed in USA Today. There are a group of Elite Accountant who want to reform the Government budget meothod. To balance any budget you needed real number not smoke and mirror polical people like. Second unpopular action will be needed to correct this . Third there is no quick fix to this.

    First the Income Tax Rate needed to be raise with closeing of all tax shelter and loophole in tax laws.

    Second Government Military sending must be cut by 50% or more. No more Star War Missile Defense System, no more Supercarrier for the navy, no more attack sub either. No more new fighter,bomber for all servicer, no new tanks either. You cannot balance the budget by cutting social program only.

    The Government will end they cash in cash out accounting way which by IRS and SEC rules only Mon and Pop bussienes can use, not GM, Ford,or Microsoft cannot legality use this accounting methord.
     
  4. Maximus

    Maximus New Member

    Messages:
    1,306
    Likes Received:
    0
    Joined:
    Mar 1, 2006
    First off, America paid off its debt once, and our dollar lost all value. National debt is how countries maintain value of their currencies, not to mention it acts as a deterrent to hostile countries who you owe lots of money to. If they attack and defeat you, all that debt is gone, so a country actually loses billions if it wins a war. Iraq is a perfect example of this. The US 'defeat' Iraq, but lost billions in debt that we'll never see, and thats not counting the billions more we use to fund their economy and rebuild their infrastructure.

    On a personal level, think about when you want to get a car loan, what does the bank do? They check your credit, which is based on the amount of money you owe other people. If you have no debt history, your credit value is 0. To the bank, this means you're a risky investment, and they probably wont trust you with their money.

    You also have to take into account that other countries owe us billions too. If you do some research, you'll see that China for instance owes us billions in a number of different loans, but we also owe them in return. Often times countries wont even spend the money, but hold it as a hedge to maintain the value of their own money. If the Yen or Rubel or whatever starts to slide in value, they spend a lot of the dollars held to flood the market with USD, and well as buying their own goods to boost their economy.

    Without debt, our economy would have no security, and could easily plunge back into a major depression.


    And Social Security will be gone within twenty five years, guaranteed.
     
  5. Blinky969

    Blinky969 Active Member

    Messages:
    4,132
    Likes Received:
    0
    Joined:
    Jul 8, 2003
    You know what's funny about Social Security. Everyone talks about how its in the red, but that's not actually ture, at least not completely. Social Security is running in the green, there's actually a giant surplus each year. That money gets 'borrowed' by Congress and the President to pay for expenses like shiny new cars and helicopters and keeping the rose garden looking perfect. That 'borrowed' money is never paid back. And that's why there isn't any of it left for the rest of us.
     
  6. CharlesBHoff

    CharlesBHoff New Member

    Messages:
    1,328
    Likes Received:
    0
    Joined:
    Sep 10, 2001
    Borrowing too much money bank worry too, and it borrow too much money and donot make payment you are worst off than if you have no debt. The reason the value of the dollar went down after paying off the civil war debt was congress print all the money needed to pay off the debt.
    If the federal court ruleing that allow corporation to pick and chosee which accounting methord they can use to report to IRS and stockholder where ending IRS can collect than other 1.5 trillion dollar in corport income tax.
    Too many corporation use one methorod of accounting to report to the IRS
    they lost 5 billion dollar while at the same time useing than other accounting methorod to tell Stockholder they make 5 billion dollar in net income. That 5 billion dollar tax at 35% will give the government 1.75 billion dollar in taxes.

    Our National debet is over 70 trillton dollar and closeing. It China or Saudic
    want to harm us they can refuse to buy anymore of our debt or demand that we right way pay it off in gold and other assets .
     
  7. Blinky969

    Blinky969 Active Member

    Messages:
    4,132
    Likes Received:
    0
    Joined:
    Jul 8, 2003
    If they demanded it right away we would demand our debt right away. Plus we'ld probably invade them. Only in the case of China would that be a problem, and they aren't yet in a position where we couldn't beat them, although I'ld feel very bad for the people who did the fighting, and anyone caught in between.
     
  8. Maximus

    Maximus New Member

    Messages:
    1,306
    Likes Received:
    0
    Joined:
    Mar 1, 2006
    Its called 'fuzzy math' and it derives from not fully disclosing all the numbers to the public. If you lay out all the numbers, like when you report taxes, you'll find they did indeed register a net loss. It might be after adding in tax breaks, deductions, and depreciating business assets, but the net loss is still there on paper.

    When they go to their stockholders and report a profit, its always the gross profit, which is minus those deductions and many of the operating costs. Amazon.com, the biggest internet company has yet to post in the black, and has officially never made a profit, but mysteriously still is able to stay in business.
    Most of that 'profit' is owned by the stockholders in the form of dividends and stock prices, which the government taxes at a hefty price. Many taxpayers do the same thing, minus the public reporting.

    Now if they're doing something illegal, like Enron, we might eventually find out and send them all to prison. It might be a posh country-club prison like what Martha stayed at, but hey, its the idea that counts.
     
  9. CharlesBHoff

    CharlesBHoff New Member

    Messages:
    1,328
    Likes Received:
    0
    Joined:
    Sep 10, 2001
    On Corporate tax form they use than diffint way of figure depreaction of asset like machinery, oils and gases they use than doudle % decline rate like it lose 20% of it value each year, while they use than straight line one for they storkholder like let say the machinary will be good for 20 year those the divide the value of the asset by 20 years.
     
  10. DarkFool

    DarkFool Nemesis of the Ancients

    Messages:
    4,006
    Likes Received:
    5
    Joined:
    Jan 28, 2005
    And it is corporate corruption that will be the undoing of our country long before our president is.
     
  11. Maximus

    Maximus New Member

    Messages:
    1,306
    Likes Received:
    0
    Joined:
    Mar 1, 2006
    I may be misunderstanding you, but it sounds like your talking about tax fraud rather than standard depreciation. You get a set amount of depreciation you can take on equipment based on its value and what it is, and its set by the IRS. Gas is set at $0.41 per mile (unless its changed?) but thats only applied as a tax credit to offset what you owe.
    Stockholders on the other hand are told the full amount of the value of the equipment to be reported as net value of the company. Its all the same stuff, just different ways of reporting and looking at it.
     
  12. CharlesBHoff

    CharlesBHoff New Member

    Messages:
    1,328
    Likes Received:
    0
    Joined:
    Sep 10, 2001
    The America Government use the old Cash in cash out bookkeeping, all corporation are happy they arenot allow to use this methord. Tnan manger of than branch decide to borrow 100 million dollar an doesnot tell corporate headquater an it doesnot show up on cash out bookkeeping( as only payment due this year record), on the cash in side he can lie about the scorce of cash from in, an in some cash in cash out system does need
    to record it as borrow money untril the year it being paid off.
     
  13. bryant1380

    bryant1380 New Member

    Messages:
    2,247
    Likes Received:
    0
    Joined:
    Nov 7, 2001
    Sorry, I just thought this was hilarious.

    Maximus, I haven't been around for a while, but you guys do know how crazy CharlesBHuffin'Fumes is, don't you?

    Hey, Charlie, tell them about the time that you wrote a letter to the CIA and helped avert a nuclear attack on U.S. soil....
     
  14. TONGSyaBASS

    TONGSyaBASS Member

    Messages:
    772
    Likes Received:
    0
    Joined:
    Apr 19, 2005
    Yes, yes it is.
    http://thebots.net/FuzzyMathVideo.htm

    Actually Bush is combating corporate corruption by simply giving them everything they want. What's the point in being corrupt if you get endless cash handouts anyway?

    In Iraq all the companies are paid in cash. Just think about that for a second. Billions of dollars of American and Iraqi money being converted into cash (dollars). Why this need for a lack of a paper trail?

    A law was passed to make these companies unaccountable under American law and under Iraqi law. These companies are regularly breaking the law. The people in charge know this but they can't do a thing about it as the companies have been made untouchable.
    e.g. Stealing abandoned Iraqi government vehicles and then charging the American administration full price for them as if they were bought new. Then after a few days / weeks the vehicles are written off as worn out. Then they can be sold to the administration all over again.

    What's even worse is that when the hand over to Iraqi authorities was due, the Americans splurged as much cash as possible so that they didn't have to hand it over to the Iraqis. They spent a fortune having money with Saddam's face on it destroyed and reprinted whilst babies were dying because no one had bothered to buy small needles for drips. The reason being that "100,000 needles" doesn't look impressive in the papers back home but "state of the art CAT scanner" does.
    They also sacked all of the senior Iraqi doctors. The logic went something like this: Saddam puts his supporters in power = If you are in power you must be a Saddam supporter = Saddam supporters are all evil comic book villains = We must sack them all
    So they were / are trying to run hospitals where all the senior staff have been fired without any charges apart from a woolly idea that they are somehow linked to the Baath party.

    Wandering a bit off topic but just thinking of it makes me genuinely angry.

    So yay for getting rid of Saddam.
    Boo to almost everything else that has been done after that.

    Oh and of course the corporations that made the most money out of Iraq just happened to be owned by pals of Bush.
    So what happens when one of these mega-corporations, with their foot in the door of the white house, decide that they need another source of oil?
    Regime change starts at home...
     
  15. Blinky969

    Blinky969 Active Member

    Messages:
    4,132
    Likes Received:
    0
    Joined:
    Jul 8, 2003
    It's good to have you back Retard, finally, someone other than me who appreciates Charles... Charlie-ness.

    Preach on Shiek Charles, Allah hearts typos.
     
  16. Maximus

    Maximus New Member

    Messages:
    1,306
    Likes Received:
    0
    Joined:
    Mar 1, 2006
    One-sided PETA propaganda.


    Partially true, if your thinking of the airlines bailout. That was approved by both the Republicans and Democrats.
    Because they dont take credit cards there. That, and thats how you get things done in countries like that, especially when nobody trusts anybody. Go to any third world country and try to get something done at a governmental level, and if you dont use cash to 'expedite' your requests, dont even waste your time.
    Thats because we didn't want to reinstall another hardline muslim government, which is whats going to happen after the civil war anyways.
    How else do you stop massive counterfeiting? We also dont like his shifty-eyed face looking at us for the next ten years.
    Actually, the US didn't take a drop of Iraqi crude as plunder, or even sell it to ourselves for a $1.00 a barrel. No, we pay inflated costs so we can build up their crappy infrastructure better than it was before we blew it to hell. WTF?! Do you know how much Americans pay for gas now days? If it was up to me, I'd drive my 1 MPG SUV up to the oil wells of Iraq and fill 'er up. But no, we're all touchy-feely 'dont piss off the pissed off arabs'. Nuke 'em all, for all I care, damn labor-party communist sympathisers.

    Yeah, but what can you do? He's either a deranged su!side b0mbr or some Friggin weirdo who's had a BIt to much to drink. Either way, I cant help but try to reason with the unreasonable.
     
  17. Blinky969

    Blinky969 Active Member

    Messages:
    4,132
    Likes Received:
    0
    Joined:
    Jul 8, 2003
    We don't pay inflated costs for any reason Maximus, don't kid yourself. We pay money to Exxon, or BP, or whatever fucking gas company services your area. And define how we haven't taken things as plunder. You seem to be giving A LOT of credit to the U.S. government, and if you actually buy any of the bullshit you just wrote, you're stupidiously fucking retarded.
     
  18. DarkFool

    DarkFool Nemesis of the Ancients

    Messages:
    4,006
    Likes Received:
    5
    Joined:
    Jan 28, 2005
    I think we need to do a giant, counter clock-wise circle of nuking. Let's do it in this order:
    Mosul
    Beruit
    Damascus
    Amman
    Medina
    Jiddah
    Mecca
    Manama
    Kuwait City
    Basrah
    Teran

    Oh, and Jerusalem. It's like when two kids fight over a toy, what do you? take away the toy! :)
     
Our Host!