Abolish the IRS Now

[NightHawkeye]

Who doesn't like Ted Cruz now?
Abolish the IRS Now - YouTube
What's not to like?

 

[SharonL]

He speaks common sense - the Washington clan cannot handle that.

 

[NightHawkeye]

He speaks common sense - the Washington clan cannot handle that.

Hopefully, those who can learn will learn ... and those who can't will go back home.

 

[Gumper]

What's not to like?

The idiocy of abolishing the IRS.

 

[DaisyDay]

It's a good idea if you want to see the deficit soar and our government crash.

 

[SnowCal]

It's a good idea if you want to see the deficit soar and our government crash.

Or you want to do a big fat tax hike on the middle class.

 

[NightHawkeye]

It's a good idea if you want to see the deficit soar and our government crash.

LOL ... deficit soar?

How much worse can it get before the balloon pops? That day is coming regardless of whether or not we abolish the IRS. One of the cardinal rules of economics is that bubbles burst.

 

[SnowCal]

LOL ... deficit soar?

How much worse can it get before the balloon pops? That day is coming regardless of whether or not we abolish the IRS. One of the cardinal rules of economics is that bubbles burst.

Ask Britain. You can run up a lot of debt and do fine. We're not even close to what they managed to do.

 

[cow451]

The idiocy of abolishing the IRS.

Replace it with what?????????

Making it more independent to prevent its use for political purposes is a good idea. But it, or something like it is a necessary evil unless we want to go to a tribal society like certain parts of Afghanistan and Pakistan.

 

[SnowCal]

I should add that CBO dropped its estimate for the 2013 deficit by $200 billion in its May revision this month. That's not because of courageous fights in Congress. It's because the economy is doing better, tax reciepts are up, and healthcare costs are rising slower than expected (as they have been for a few years).

Their forecast for 2015 is a deficit of 2% of GDP. That's great news. Debt/GDP will go down.

 

[NightHawkeye]

Ask Britain. You can run up a lot of debt and do fine. We're not even close to what they managed to do.

It is worth noting that Britain's debt run-up curiously coincided with its fall from being a dominating world power.

While large debt may be possible, it really doesn't work much better for sovereign nations than it does for individuals. The piper will be paid.

 

[SnowCal]

It is worth noting that Britain's debt run-up curiously coincided with its fall from being a dominating world power.

While large debt may be possible, it really doesn't work much better for sovereign nations than it does for individuals. The piper will be paid.

The largest debt increase in that period didn't coincide with Britain's fall as a global power. WW2 did, not WW1. Of course in WW2 the US debt grew to staggering levels as the US became the premier global superpower. The Ruskies competed for that status but never equaled us.

I actually wasn't talking about Britain's WW2 debt though but rather their 19th century debt. Britain in the 19th century had unparalleled debt, unparalleled growth, and unparalleled dominance. The sun never set on the British empire.

 

[DaisyDay]

It is worth noting that Britain's debt run-up curiously coincided with its fall from being a dominating world power.

While large debt may be possible, it really doesn't work much better for sovereign nations than it does for individuals. The piper will be paid.

It often works very well for individuals. Home ownership via a large debt (mortgage) is the primary method of capital accumulation for most middle class Americans.

However, abolishing the IRS does nothing to alleviate our national debt and everything to get rid of our revenue. It's a bad idea.

 

[Savior2006]

Who doesn't like Ted Cruz now?
Abolish the IRS Now - YouTube
What's not to like?

His social conservatism and the fact that he's a Tea Party Republican.

 

[NightHawkeye]

His social conservatism and the fact that he's a Tea Party Republican.

Good stuff.

 

[Savior2006]

Good stuff.

Yep, a good list of reason to not like him.

 

[Jeffwhosoever]

Let's go with a 15% flat tax, eliminating all deductions and exemptions, and we won't need an IRS.

 

[DaisyDay]

Let's go with a 15% flat tax, eliminating all deductions and exemptions, and we won't need an IRS.

Right, it will collect itself.

 

[Jeffwhosoever]

Right, it will collect itself.

It is called payroll deduction.

 

[TLK Valentine]

It is called payroll deduction.

of course we can trust the bosses to actually turn in the money they deduct, as opposed to pocketing it.