Well, our Poor
- Thread starter ElectricalCock89
- Start date
Thats what happens when govt cash flow comes to a screeching halt!! Good times
Hopefully it’ll correct to 25-28k
Won't happen. Trump already called for the debt limit to be raised so he can keep spending.
Calling for rejection of spending bill. Shutdown the gov. Don’t give a inch
Inflation is once again on the rise and what does the Fed do…yep they stupidly cut rates a qtr point, which will only contribute to a rise in inflation. Trump’s Fiscal policy will do its part to tame inflation but it’s a tough task when the Fed’s Monetary policy is intent on increasing inflation.
I'm not so sure threatening or adding tariffs and increasing the debt is going to "tame inflation"- especially when Trump's history is one of complaining to the fed that they should cut rates more. Not 3 months ago he was saying the fed should wait until he's in office to cut rates- and then they should cut them a lot.
Also deporting members of the labor force results in a shortage of workers causing wages to go up. That is passed to consumers in higher prices. Also tax cuts put more money into circulation, which causes inflation (Economics 101). Powell is a Republican who was first appointed FED chair by Trump. Every President "owns" the economy under his watch. No excuses. I do like Trump's choice for Treasury Secretary. Will Trump listen to him???????????????????
It's honestly sad that the average voter just doesn't even realize what's happening with our government.
"President-elect Donald Trump called for abolishing the federal debt ceiling altogether on Thursday—offering to “lead the charge” on an idea championed in the past by some Democrats but fiercely opposed by the GOP."
www.mediaite.com
Trump Calls to Get Rid of Debt Ceiling Entirely, Backing Proposal from Democrats That Sparked GOP Revolt
Trump called for abolishing the federal debt ceiling altogether—offering to “lead the charge” on an idea championed by some Democrats but opposed by the GOP.
www.mediaite.com
Cry it out, Pocahontas. Y'all targeted the wrong guy this time. Most people don't have the means to go up against corrupt Dems and their machine, but he does. A clear FAFO if I've ever seen one.
You mean he has the resources to break the law and buy his way out of it?
It's wild to most reasonable people that you believe that's a good thing.
No, I didn't mean that, because they didn't do that. And if they did, they sure as hell wouldn't get pardoned for it and suffer zero consequences for their crimes like Hunter Biden.
The good news is treason can be charged on the state level if so desired along with state tax fraud etc. They could still lock him up if they wanted and not in a nice shiny federal prison.
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I am not sure.
Trump lied about 2 election workers in Georgia and said they committed a federal crime. They were accused of using thumb drives while they were at a table at the election precinct. (They were actually breath mints the mother and daughter liked to chew on) They received death threats and had to move as a result. A number of Trump supporters showed up at their front door to "encourage" them to say they committed fraud, including an Illinois pastor who drove all the way to Georga to confront them at their homes.
They committed no crime per the Republican Governor of Georgia and the republican state election officials after their investigation.
There was no accountability for him.
Rudy G spread Trump's lies about the 2 workers and was held accountable. Trump has very lucky in many ways.
He was very lucky that the Justice Department waited over 2 years to actually pursue anything against him, and lucky they slow-walked it when they did. In some ways, the department pursued it in a way that would give him many more options than he otherwise would have had.
Imagine your wife volunteered to work at a local precinct, and the President accused her of a crime when she did nothing wrong at all and followed all the rules and the increased attention caused you to have to sell your home and move because of the threats to your lives, I would guess (just a guess) you'd hope there was some serious legal accountability for that President (or person) - whoever it was...
Getting carried away. Treason isn't an issue.
Regarding tax fraud. the great majority of tax issues do not result in jail time, especially on the state level if the person has paid whatever they owed. Thanks to increased IRS enforcement in the law Biden signed back in 2022, those making over 1 million dollars a year have paid $1.3 billion dollars in unpaid taxes.
(This is also true in South Carolina. South Carolina almost never ever tries to put someone in jail for not paying taxes. There are people and businesses in South Carolina that owe tens of thousands of dollars in back taxes- including a few politicians).
None were sent to jail. Almost none are that pay what they owe.
The IRS said the $1.3 billion came from just those kinds of targets: “high-income, high-wealthy individuals who have not paid overdue tax debt or filed tax returns.”
Tax officials said that in the 4th quarter of 2024 alone, they found $120 million by using third-party data to spot people who were earning at least $400,000 but didn’t file returns at all.
On the criminal front, the agency said it seized $1.2 billion in assets and won court restitution judgments for an additional $1.7 billion in fiscal year 2024.
Now, Trump has promised to get rid of this increased enforcement effort. So I am not sure attacking people for not paying taxes has a lot of credibility when you are promising to get rid of enforcement that has went after millionaires that never pay their taxes at all and don't even file tax returns.
Trump got elected because of inflation. That was the major catalyst in the election. Inflation has been slowing for the past 2 1/2 years. Consumer prices were up 2.7% from the most recent 12-month period.2.7% is really insignificant. But people were wanting prices to go back to 2020 levels. That's not going to happen. I don't care who the President is. It would take an economic depression for prices to deflate. But that would wipe out the Republican party in elections. So, they should not want to go there. Just keep inflation at the 2-3% level. People should be happy with that.
Regarding the debt ceiling: I don't like it. But if it's a roadblock to increasing our debt, keep it. So I side with most Republicans on that. I do not want to see an extension of the Trump tax cuts. I believe that would be a big mistake. So if the debt ceiling can prevent that extension, keep the debt ceiling.
Apparently you are unfamiliar with tax law. What you say is not true. No one can be imprisoned for not paying taxes, unless they commit fraud. There is no "debtor's prison" in the US. The only thing that can result in prison terms regarding tax issues is committing fraud or tax evasion. If you file your tax return correctly and do not pay the tax owed, the IRS can put a lien on your property, garnish your wages, and confiscate your bank account, but they cannot put you in prison. Hunter did not commit a minor offense or make an honest error on his taxes. He was guilty of tax evasion which is a criminal offense. And yes most people who commit those crimes for that amount of money are sentenced to jail terms. I personally know of 5 people who have gone to jail due to tax avoidance schemes and for not nearly the amount of money Hunter scammed from the government.
They could lock up most of the bidens without breaking a sweat for a very long time. Probably don’t even need a prosecutor just let AI handle that.
Yep.
Trump has already said that in a few interviews that getting prices down will be difficult and couched comments that it might not happen.
We've known this a long time because the ecomomy is different now and the supply chains are a lot different than before Covid.
I don't see the debt ceiling going away either.
Just tonight Trump's proposal was voted down because 38 Republicans wouldn't go along with pausing or eliminating the debt ceiling and there is no way in the world the senate would go along with it- that's republicans and democrats.
Everything I said is true.
Debtor's prison and tax fraud/avoidance is not the same thing. I didn't say anything about filing a tax return incorrectly or making mistakes on your tax return. Damn dude. You make up a lot of stuff unnecessarily.
I also didn't say anything remotely related to Hunter Biden committing a minor offense. I didn't say it. I didn't even imply it. I don't believe it.
What I said above is very basic stuff, and not controversial.
"Tax fraud broadly encompasses all attempts by a taxpayer or entity to falsify information on a tax return or other document in order to reduce their tax liability. This can take the form of wrongly calculating the value of assets, using deductions and credits, or blatantly not reporting income. Tax fraud can also manifest as a deliberate failure to pay the taxes owed. Any of these acts or omissions can lead to fines, or prosecution."
But as I said above
- Regarding tax fraud. the great majority of tax issues do not result in jail time, especially on the state level if the person has paid whatever they owed. It does result in fines and penalties in most cases. if the fines and penalties are paid, prison is rarely involved.
(This is also true in South Carolina. South Carolina almost never ever tries to put someone in jail for not paying taxes. They will pursue them. They will hound them. They will try to get their money by going to court. But they almost never try to put them in jail. There are people and businesses in South Carolina that owe tens of thousands of dollars in back taxes- including a few politicians and no one says a word about it).
and no- despite who you know- most people that pay their tax fines and penalties do not go to jail. Some do. Most don't. That's because the IRS prefers to get the money and the penalties and not waste time and money fighting people in court to send them to jail.
That doesn't mean no one goes to jail. It means most people don't, as I correctly said above.
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LOL
I am reminded of what right wing attorney jonathan turley said in front of a Republican House committee after hearing their evidence- when he told them what he had heard wasn't impressive
“I do not believe that the current evidence would support articles of impeachment"
Then the House Committee led by James Comer famously completed their investigation into Biden, his brother, and Hunter and didn't recommend anything when it fizzled out with even some Republicans on the committee saying they hadn't seen anything worth pursuing.
“Comer is hoping Jesus comes so he can get out,” one of the GOP lawmakers who spoke to Comer told CBS news. “He is fed up and tired of it all. It's not going anywhere. He's known it for a long time and he doesn't have the votes to do anything, and I am talking about Republican votes. The evidence we saw was just was never there. Jim had plenty of time but couldn't produce anything."
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