4 ms·

I love calculators. What I haven't seen yet is a calculator that shows you where the money originated from. How much of my tax deduction is new debt, vs money s

I love calculators. What I haven't seen yet is a calculator that shows you where the money originated from. How much of my tax deduction is new debt, vs money stripped from Medicare, Social Security, College Graduate deductions, etc. It's not enough to know how much more I am getting, but where the money originated from.

sowbug 9y ago
Is that mostly a matter of curiosity? I don't understand how that would help a taxpayer make financial decisions.
- deleted 9y ago
  [deleted]
jpadkins 9y ago
money is fungible. You can't trace it to a specific origin.
- Afforess 9y ago
  That's pure pessimism. You can compare the previous-year government budget and next-year government budget and work out the gaps. Sure, the money might have all sloshed together in the general fund, but the average values are all matter for analysis on an individual level.
dv_dt 9y ago
I think the best you could get is a comparison of the per-capita debt incurred under some economic models, vs tax change realized individually, and possibly who/what accrues the benefits of the difference between those numbers.
deleted 9y ago
[deleted]
sjg007 9y ago
It doesn't matter and for the most part will all be newly issued debt. To explain: For the first few years it will be approx 100% new debt... You can exclude college graduate deductions since that's basically a small amount compared overall spending on medicare and social security etc... THEN wait a few years for the republicans to gut SS, medicare/medicaid etc.. under the guise of shrinking the debt/deficit with maybe a balanced budget argument. At that point you could argue that they've paid for these tax cuts by making those spending cuts. However, the republicans actually really like to issue debt when it pays their backers so you won't necessarily hear the balanced budget argument unless the democrats make substantial gains (e.g. take the House or the Senate).. They may try to push spending cuts through in 2018 but they may very well wait until after the election because as an election issue it might be polarizing. 2018 will be the year of campaigns that say "hey we cut your taxes", "we stuck it to the coastal and academic liberals". We also fixed Obama care as we removed the individual mandate (which is really all that non-wealthy people hurt by the ACA care about)... so vote for us!!! And without that mandate ACA costs will rise b/c insurance co's get paid on the backend to make up the shortfalls already, so that will just increase and need to be "funded", most likely by new debt. For all of these plans, if Trump is impeached it won't matter as Pence (or Ryan if it's a 2 for 1) will continue similarly. I only see one way out of this and that's that we need to appeal to Trump to save us. Since he desperately wants to be loved and respected by the people. The only issue is that Trump has to play ball with the Republicans or else they will impeach him, at least until Russia is out of the way. The only way to prevent that is to take back seats in the 2018 election.. but this is a tough task due to all of the gerrymandering that's gone on. If Pence or Ryan are President after the 2018 election with a democratic house basically nothing will happen. If Trump is in there might be a small chance of saving democracy. He'd have to go nuclear on the remaining republicans and may convert his base over to the more liberal populist platform to get re-elected. That's a stretch but not unimaginable.
Redoubts 9y ago
> How much of my tax deduction is new debt, vs money stripped from Medicare, Social Security, College Graduate deductions, etc. We don't know that yet, that discussion will happen next year.

sowbug 9y ago

Is that mostly a matter of curiosity? I don't understand how that would help a taxpayer make financial decisions.

deleted 9y ago
[deleted]

jpadkins 9y ago

money is fungible. You can't trace it to a specific origin.

Afforess 9y ago
That's pure pessimism. You can compare the previous-year government budget and next-year government budget and work out the gaps. Sure, the money might have all sloshed together in the general fund, but the average values are all matter for analysis on an individual level.

dv_dt 9y ago

I think the best you could get is a comparison of the per-capita debt incurred under some economic models, vs tax change realized individually, and possibly who/what accrues the benefits of the difference between those numbers.

deleted 9y ago

[deleted]

sjg007 9y ago

It doesn't matter and for the most part will all be newly issued debt. To explain: For the first few years it will be approx 100% new debt... You can exclude college graduate deductions since that's basically a small amount compared overall spending on medicare and social security etc... THEN wait a few years for the republicans to gut SS, medicare/medicaid etc.. under the guise of shrinking the debt/deficit with maybe a balanced budget argument. At that point you could argue that they've paid for these tax cuts by making those spending cuts. However, the republicans actually really like to issue debt when it pays their backers so you won't necessarily hear the balanced budget argument unless the democrats make substantial gains (e.g. take the House or the Senate).. They may try to push spending cuts through in 2018 but they may very well wait until after the election because as an election issue it might be polarizing. 2018 will be the year of campaigns that say "hey we cut your taxes", "we stuck it to the coastal and academic liberals". We also fixed Obama care as we removed the individual mandate (which is really all that non-wealthy people hurt by the ACA care about)... so vote for us!!! And without that mandate ACA costs will rise b/c insurance co's get paid on the backend to make up the shortfalls already, so that will just increase and need to be "funded", most likely by new debt. For all of these plans, if Trump is impeached it won't matter as Pence (or Ryan if it's a 2 for 1) will continue similarly. I only see one way out of this and that's that we need to appeal to Trump to save us. Since he desperately wants to be loved and respected by the people. The only issue is that Trump has to play ball with the Republicans or else they will impeach him, at least until Russia is out of the way. The only way to prevent that is to take back seats in the 2018 election.. but this is a tough task due to all of the gerrymandering that's gone on. If Pence or Ryan are President after the 2018 election with a democratic house basically nothing will happen. If Trump is in there might be a small chance of saving democracy. He'd have to go nuclear on the remaining republicans and may convert his base over to the more liberal populist platform to get re-elected. That's a stretch but not unimaginable.

Redoubts 9y ago

> How much of my tax deduction is new debt, vs money stripped from Medicare, Social Security, College Graduate deductions, etc. We don't know that yet, that discussion will happen next year.