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sherkahn
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Pomona, Inland Empire, CA Today!
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Locked. No further comments permitted.US runs out of money.
Jul 8 2019 07:39PM more by sherkahn
Tags: Current Events

Looks like we will spend everything that the government has in the bank right now by the end of September, far ahead of what was projected.

Attached Links
Bye bye money.
      
There are 47 comments on this blog. This blog is locked and no further comments are permitted.
Facephuckker
Austin, TX
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Jul 8 2019 07:50PM     link to this

keep spending money taking care of illegals
TheRealGuido
Dana Point, OC, CA
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Jul 8 2019 08:34PM     link to this

Blah blah. Like none of read the news. This happens over and over and over again. Whoopie.

Got any advice on how we can fix it? Let your congressman know. Oh wait, no one in California would be able to help. They just know how to keep taxing the shit out of us for useless projects.

Never mind. You just proved again how boring your blogs are. Good thing is you have maintained your number uno bad blogger status (tips cap).
sherkahn
Diamond Bar, SGV, LA, CA
Pomona, Inland Empire, CA Today!
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Jul 8 2019 09:08PM     link to this

Wait, I thought I heard a someone try to say something intelligent, but came out like a wet fart.

If we did not remove the corporate taxes and taxes on the rich, economists say we would not be here.
Funding illegals is a small drop of the bu ket compared to what the rich are “saving” in taxes.
TheRealGuido
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Jul 8 2019 09:16PM     link to this

More blah blah blah. Always the republicans fault. No way those economists have an agenda, or are dems themselves, or paid by the dems. No way, not a chance.

Just like all other topics, you bring your guys, I will bring my guys. Out of 10 of them 5 will tell you one thing and 5 will tell you the other. Does not mean any of them are correct.

Just more blah blah blah.

Dude, you are worst than a broken record.
TheRealGuido
Dana Point, OC, CA
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Jul 8 2019 09:51PM     link to this

That bitch is the thirstiest chick ever.

Got to love all these newbies getting voted into office with some crazy ass agendas. Can't wait for them to get into power and all these Dems will wonder what the fuck happened. Cause they are going to let everyone from everywhere come here with no background checks, give them drivers licenses and a stipend. And if they cannot work, it's okay, they will cover you until you find employment. Unless finding employment is too stressful. In that case we will just pay your way.

Oh, and free healthcare. Cannot forget free healthcare.

And guess who will pay for it?
AFMadness
Inland Empire, CA
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Jul 8 2019 10:03PM     link to this

Yep those printing press' are still smoking.
jazz51
Laguna Hills/Woods, OC, CA
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Jul 9 2019 12:10AM     link to this

The top tax rate went from 39.6 to 37. You really believe that makes that huge difference you are saying. People making 82,500 up to 157,500 saw their rate go from 28% to 24%.
jazz51
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Jul 9 2019 12:17AM     link to this

Corporations don’t really pay taxes. They just pass through their operating cost to the price of goods and services. So raise their taxes and you and I feel the pain. People on the left have no understanding of that concept. The top 1% currently pay 25% of all income taxes. How much more should they pay? It is wonderful to think you work hard, invest wisely, take a financial risk starting a company and those jealous of your success want to take it from you.
Angler1
CA
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Jul 9 2019 12:33AM     link to this

OP is the biggest political whiner currently on HX....
Oh, there is that fish thing on here too...
Grumpy
Inland Empire, CA
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Jul 9 2019 05:24AM     link to this

Thank god i save all my empty Fotys. Money in the bank.
MO MONEY, MO MONEY, MO MONEY!
huuuge
CA
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Jul 9 2019 06:33AM     link to this

What kind of crane do you operate op🤔,

just wondering
huuuge
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Jul 9 2019 06:33AM     link to this

Ooops wrong blog
operaagent
OR
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Jul 9 2019 11:33AM     link to this

Just a reminder we have a progressive tax rate, being in the 24% tax bracket does not mean all of your income is taxed at 24%.


For 2018, a single person making $100,000.00 of taxable income (After all deductions)

On the first $9525 the tax rate is 10% so that comes to $95.25
Between $9,526 to $38,700 the rate is 12% so that comes to $3501.00
Between 38,701 to $82,500 the tax rate is 22% so that comes to $9636.00
Between 82,501 to $100,000 the tax rate is 24% so that comes to $4200.00

The 24% tax rate goes to $157,500.00

So a sing person making $100,000.00 a year will pay $17,435.25 for an effective tax rate of 17.4% on the taxable income, the percentage would be lower on the gross income whatever it may be.

There are many who would try and make the argument that this person would pay $24,000 in taxes.



Kmso
Long Beach, LA, CA
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Jul 9 2019 11:47AM     link to this

OP is the biggest idiot on HX!!!
TheRealGuido
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Jul 9 2019 12:17PM     link to this

Just to pile on, "they" are not sure it will happen in September.

Sheesh. If this happens then that may happen.

As stated previously, it all seems politically motivated to bash Trump. The sky is falling. Well maybe. But it could. But it may not. But it could. But it may not. But it could. But it may not.

First they say it could happen if the debt ceiling is not raised. Read next paragraph.

Then they say they can't pinpoint when it will happen, meaning they can be right on their projected numbers of October or November. And the debt ceiling would not need to be raised.

Another fluff piece shared to us by the fluffiest poster on the site.

Someone tell me if I am not reading the article correctly. I can take it.

Facephuckker
Austin, TX
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Jul 9 2019 12:32PM     link to this

guess i'm lucky, i don't pay any taxes
teeitup
Massachusetts
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Jul 9 2019 12:39PM     link to this

^^^Then why do you bitch so much...sheeeeeeeeeeeesh. How about crawling under your blankets and staying there til about 2PM? MAGA!
quarante.sept
Denver Metro, Colorado
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Jul 9 2019 12:48PM     link to this

MAGAsshats have been in control for nearly three years. In that time the National Debt has doubled. We go broke now, it's on them. Benito Trumpollini thinks he is the master of debt and he'll just put the country into bankruptcy. And then throw a parade. Hilarious.
Facephuckker
Austin, TX
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Jul 9 2019 12:58PM     link to this

the national debt doubled from obanana's 8 years, went from 10 trillion to 20 trillion
in the trump years its gone from there to almost 22 trillion
hardly doubling
jazz51
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Jul 9 2019 01:22PM     link to this

Face that is liberal math.
TheRealGuido
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Jul 9 2019 01:33PM     link to this

QS - can you send us evidence the debt has doubled while Trump has been in office? Like something legit? Not made up?

Or would you like to retract your comment?

Or did you just make it up? Or read it on CNN?
teeitup
Massachusetts
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Jul 9 2019 01:35PM     link to this

Check OMB's projections. Don't know the exact numbers but they be growing big time in a few yrs.

Can you say "fiscal conservatives...NOT"
jazz51
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Jul 9 2019 01:54PM     link to this

The Republicans have learned well from the Democrats....spend, spend, spend....give people stuff and they will vote for you.

None of these politicians want the fallout of budget cutting. Trump might do it after he gets reelected. Obama didn't even want to try. There is so much redundancy and waste in government but no one wants their 'easy money' taken away.
oldbaldy69
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Jul 9 2019 04:23PM     link to this

if Trump really had balls, he would veto anything congress passes to raise the debt ceiling and force them to balance the budget

and can anybody explain why we still give foreign aid when we are broke?
teeitup
Massachusetts
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Jul 9 2019 04:27PM     link to this

Cause we want to still have friends so Tramp can piss them off??? That's just a guess, so don't get your pantyhose in a bunch...thank you in advance
huuuge
CA
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Jul 9 2019 04:40PM     link to this

Trump did say he would run this country like his business........I guess he wasn't lying about that were broke as fuck and at odds with everything.



same thing happened when bush jr. Was on office.......
Grumpy
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Jul 9 2019 05:19PM     link to this

I run out of money every night.
Grumpy
Inland Empire, CA
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Jul 9 2019 05:20PM     link to this

You know, im still running WAMB meetings every Saturday morning.
sherkahn
Diamond Bar, SGV, LA, CA
Pomona, Inland Empire, CA Today!
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Jul 9 2019 05:34PM     link to this

@ oldbaldy!

I know, I know, I know the answer why we give foreign aide!

See my hand in the air, call on me! I’m the one raising the middlemfinger.

The answer is: we help other countries solve their immediate financial and economic problems so that those problems don’t multiply later into bigger and more expensive problems. Like car maintenance or dental work.
coolhotavi50
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Jul 9 2019 05:42PM     link to this

US out of money hmmmmmm

Can we get any Refund on the 250 million dollar drone Iran blew up last week with their third world missile system
Or 800 billion dollar defense budget ?
Angler1
CA
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Jul 9 2019 06:01PM     link to this

Illegal immigration is the number 1 problem. Way too much money spent

A lot more info in the link.


The Fiscal Burden of Illegal Immigration on United States Taxpayers

Report by Matt O'Brien and Spencer Raley | September 27, 2017 | View the Full Report (PDF)
Key Highlights

In 2017, the total cost of illegal immigration for the United States � at the federal, state, and local levels � was approximately $116 billion.

FAIR arrived at this number by subtracting the tax revenue paid by illegal aliens � about $19 billion � from the total economic impact of illegal migration, $134.9 billion.

In 2013, the estimated total cost of illegal migration was approximately $113 billion. So, in under four years, the cost has risen nearly $3 billion.

Evidence shows that the tax payments made by illegal aliens fail to cover the costs of the many services they consume.

A large percentage of illegal aliens who work in the underground economy frequently avoid paying any income tax at all.
Many illegal aliens actually receive a net cash profit through refundable tax credit programs.

Introduction

A continually growing population of illegal aliens, along with the federal government�s ineffective efforts to secure our borders, present significant national security and public safety threats to the United States. They also have a severely negative impact on the nation�s taxpayers at the local, state, and national levels. Illegal immigration costs Americans billions of dollars each year. Illegal aliens are net consumers of taxpayer-funded services and the limited taxes paid by some segments of the illegal alien population are, in no way, significant enough to offset the growing financial burdens imposed on U.S. taxpayers by massive numbers of uninvited guests. This study examines the fiscal impact of illegal aliens as reflected in both federal and state budgets.
The Number of Illegal Immigrants in the US

Estimating the fiscal burden of illegal immigration on the U.S. taxpayer depends on the size and characteristics of the illegal alien population. FAIR defines �illegal alien� as anyone who entered the United States without authorization and anyone who unlawfully remains once his/her authorization has expired. Unfortunately, the U.S. government has no central database containing information on the citizenship status of everyone lawfully present in the United States. The overall problem of estimating the illegal alien population is further complicated by the fact that the majority of available sources on immigration status rely on self-reported data. Given that illegal aliens have a motive to lie about their immigration status, in order to avoid discovery, the accuracy of these statistics is dubious, at best. All of the foregoing issues make it very difficult to assess the current illegal alien population of the United States.

However, FAIR now estimates that there are approximately 12.5 million illegal alien residents. This number uses FAIR�s previous estimates but adjusts for suspected changes in levels of unlawful migration, based on information available from the Department of Homeland Security, data available from other federal and state government agencies, and other research studies completed by reliable think tanks, universities, and other research organizations.
The Cost of Illegal Immigration to the United States

At the federal, state, and local levels, taxpayers shell out approximately $134.9 billion to cover the costs incurred by the presence of more than 12.5 million illegal aliens, and about 4.2 million citizen children of illegal aliens. That amounts to a tax burden of approximately $8,075 per illegal alien family member and a total of $115,894,597,664. The total cost of illegal immigration to U.S. taxpayers is both staggering and crippling. In 2013, FAIR estimated the total cost to be approximately $113 billion. So, in under four years, the cost has risen nearly $3 billion. This is a disturbing and unsustainable trend. The sections below will break down and further explain these numbers at the federal, state, and local levels.
Total Governmental Expenditures on Illegal Aliens
Total national costs of undocumented immigrants
Total Tax Contributions by Illegal Aliens
Total taxes paid by illegal immigrants
Total Economic Impact of Illegal Immigration
economic impact of illegal immigration


Federal

The Federal government spends a net amount of $45.8 billion on illegal aliens and their U.S.-born children. This amount includes expenditures for public education, medical care, justice enforcement initiatives, welfare programs and other miscellaneous costs. It also factors in the meager amount illegal aliens pay to the federal government in income, social security, Medicare and excise taxes.


Federal Spending

The approximately $46 billion in federal expenditures attributable to illegal aliens is staggering. Assuming an illegal alien population of approximately 12.5 million illegal aliens and 4.2 million U.S.-born children of illegal aliens, that amounts to roughly $2,746 per illegal alien, per year. For the sake of comparison, the average American college student receives only $4,800 in federal student loans each year.

FAIR maintains that every concerned American citizen should be asking our government why, in a time of increasing costs and shrinking resources, is it spending such large amounts of money on individuals who have no right, nor authorization, to be in the United States? This is an especially important question in view of the fact that the illegal alien beneficiaries of American taxpayer largess offset very little of the enormous costs of their presence by the payment of taxes. Meanwhile, average Americans pay approximately 30% of their income in taxes.
Federal Education - $1.6 Billion
Federal Medical Costs - $17.1 Billion
Federal Justice Expenditures - $13.1 Billion
Federal Welfare Programs - $5.8 Billion
Total Federal Expenditures - $45.8 Billion

Federal Taxes
As a result, illegal aliens actually profit from filing a tax return and, therefore, have a strong interest in doing so.
Federal Tax Receipts from Illegal Aliens - $22.1 Billion
Total Federal Economic Impact of Illegal Immigration
Net Federal Impact of Illegal Aliens - $30.4 Billion
State and Local

Even though the costs of illegal immigration borne by taxpayers at the federal level are staggering, they only pale in comparison to the fiscal burden shouldered by taxpayers at the state level. Most government taxes and fees remitted to government by Americans are paid in forms other than income taxes submitted to the IRS on April 15th. There are city and state income taxes, fuel surcharges, sales and property taxes, etc�. States and localities also bear the main burden for costs associated with public education, city and county infrastructure, and local courts and jails.

A further complication is the fact that, while barred from many federal benefits, state laws allow illegal aliens to access many state-funded social welfare programs. Because so little data is collected on the immigration status of individuals collecting benefits, it is difficult to determine the rate at which illegal aliens use welfare programs. However, based on the average income of illegal alien households, it appears they use these programs at a rate higher than lawfully present aliens or citizens.

State and Local Spending
The combined total of state and local government general expenditures on illegal aliens is $18,571,428,571 billion. The services referenced in this section are supported directly by the payment of city and state taxes and related fees. At the state level, examples of general expenditures would be the costs of general governance, fire departments, garbage collection, street cleaning and maintenance, etc. The state, county or municipality � or even a special taxing district in some situations � may provide some of these services. In most cases, localities offer more services than the state. By FAIR�s estimate, there is approximately a 65 percent to 35 percent cost share between local and state governments.

The estimate of general expenditure services received by illegal alien households, beyond the specific outlays mentioned in the sections above, excludes capital expenditures and debt servicing. The calculation for each state is based on the state�s annual operating budget, reduced by the amount covered by the federal government. That expenditure is then reduced further based on the relative size of the estimated population of illegal aliens and their U.S.-born minor children. As noted in our population estimate, this means states like California, Texas, Florida, New York, etc., with larger illegal alien cohorts, will bear larger shares of these costs.

Attached Links
https://www.fairus.org/issue/publications-resources/fiscal-burden-illegal-immigration-united-states-taxpayers
lookingla2013
LA, CA
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Jul 9 2019 06:03PM     link to this

better move to Venezuela ! that government has shit under control!
wcoastguy
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Jul 9 2019 06:57PM     link to this

MMT to the rescue lol!
Grumpy
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Jul 10 2019 07:04AM     link to this

Summa you fuckers have allot to say.
jimmmyz
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Jul 10 2019 07:25AM     link to this

I run out of money, I go bust.
US runs out of money, it points more.
jimmmyz
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Jul 10 2019 07:26AM     link to this

It prints more. Sorry
teeitup
Massachusetts
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Jul 10 2019 08:05AM     link to this

Jesus Angler, you trying to get this blog shut down? No one's gunna read your book, they just gunna automatically dock you for being off topic.

I think the Gettysburg Address was shorter than your windy bag (and it only freed the slaves).
is100
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Jul 10 2019 11:10AM     link to this

Countries that print their own currency can never run out of money...the only constrain is inflation which is very low nowadays. Now you can sleep well nite..thank you.
Angler1
CA
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Jul 10 2019 11:13AM     link to this

Blame OP. He whining about the USA being broke.
oldbaldy69
Inland Empire, CA
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Sep 15 2019 10:16AM     link to this

the Gettysburg Address freed the slaves?







the cool shit i learn here
Al_Most_Perfect
Bay Area, CA
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Sep 15 2019 10:26AM     link to this

The world's largest military budgets:

Japan $50 billion
Great Britain $53 billion
France $56 billion
India $58 billion
Russia $63 billion
Saudi Arabia $83 billion
China $168 billion
United States $700 billion
loucfirr1
LA, CA
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Sep 15 2019 10:28AM     link to this

Yet there is hostility from the left when Trump tries to get them to pay their share.
Al_Most_Perfect
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Sep 15 2019 10:36AM     link to this

Trump doesn't pay taxes.

He bragged about that during the 2016 debates.
ColossusJones
AL
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Sep 15 2019 10:52AM     link to this


Fascinating how the democrats are only worried about the deficit and debt when the republicans are in charge and republicans only when the Dems are in charge.

Meanwhile the rest of the country is like “Can you just get your shit straight!”

RicRulez
OC, CA
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Sep 15 2019 11:00AM     link to this

I’m not big into politics as I used to be. Now my belief is that the only way for this country great again is to make people great again (first).
RicRulez
OC, CA
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Sep 15 2019 11:02AM     link to this

Paying for performance - tell me, does it make sense to you to raise the pay of congressmen and senators who’ve been running “USA inc” at a loss of trillions of dollars for generations?
RicRulez
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Sep 15 2019 11:05AM     link to this

Guess who’s the stockholders of this country? It’s you! How do you feel about the performance of the executives and managers in your government?
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