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u/LikeASomeBoooodie 19h ago
It was an offhand remark to a reporter about incentives, nothing as significant as the post makes out
He’s right though, politicians are incentivised to borrow to pay for the promises they make so long as the bill doesn’t come due within their term.
3
u/StHamster 6h ago
You are kinda right but ironically the promises they borrow for are to payoff billionaires and corporations like Warren Buffet so the real solution is to make it impossible for billionaires like him to exist.
29
u/Cranialscrewtop 17h ago
"We don't mind paying taxes at Berkshire and we are paying a 21% federal rate. If we send in a check like we sent in last year, we sent in over $5 billion dollars to the US federal government and if 800 other companies had done the same thing, no other person in the United States would have had to pay a dime of federal taxes, whether income taxes, No social security taxes no estate taxes, all down the line."
4
u/thingerish 20h ago
I do believe people respond to incentives. The other side of that is to be careful what is really being encouraged.
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u/ProfessorPrudent2822 20h ago
3% of GDP as reported by whom? This idea incentivizes manipulating the data.
16
u/WTFudge52 18h ago
If it makes you feel any better core inflation is up 167% since 2015. Not the 4% trump is claiming
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u/findMyNudesSomewhere 13h ago
Up 167% and 4% can both be true mate. 1.5% has been US inflation for a while. 4% is 167% up from 1.5%.
Not saying Trump has done a good job, having a 167% increase in inflation directly shows that tariffs were a shitfest.
1
u/WTFudge52 8h ago
Would you me prefer to say the dollar as been devalued so much that zinc a formally worthless metal like zinc is 3¢ on the penny. Or that nickel in a "Nickel" is pushing nearly 13¢ on a 5¢ piece.
1
u/kickinwood 17h ago
Well he was just kind of spitting shit if I remember right. Top of the dome stuff. But there's something there.
1
u/tfsh-alto 18h ago
Just make the structure independent of the government.
The UK central bank (The Bank of England) for instance has operational independence over monetary policy, sets the inflation rate, etc, (sometimes in opposition of the governments wishes), though it is still owned by the UK government.
And this is a relatively new thing, around the late 90s was when they were spun out.
1
u/Crazy__Donkey 14h ago
The 80s and 90s were wild monetary era that resulalted in huge inflations.
Same happend in israel mid 80s.
Central bank has its independence, but eventually with long enough reign of controll by one man/ party (like whats happening with us with fkn bibi's decades of control) they can replace the 2nd/3rd chaine of command, which eventually one of the replace the head of the bank, and with it the loyalty to the country.
Politics is a dirty business.
8
u/pewpewtopeepee 19h ago
There will be times when the country has to run a deficit eg Covid was a prime example. What we have right now is the wealth and owner class have been getting tax cuts since Reagan that have exploded the deficit and screwed wage earners. Wanna fix the deficit? Return to pre Reagan marginal tax rates, lift the cap on social security and Medicare taxes, bar most if all tax breaks, and institute a wealth tax of 5% on all fungible assets held worth over $50 million with exit taxes on all wealth.
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u/SpiritualSuccotash35 9h ago
Spending is the real problem not revenue.
1
0
u/pewpewtopeepee 9h ago
Just not true.
-1
u/SpiritualSuccotash35 8h ago
All politicians do is spend. They get more revenue and they spend more so they need even higher taxes. Spending is the problem.
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u/GreasedUPDoggo 20h ago
This is intended for teenagers who have no idea what they believe. Billionaires by far have the advantage when turnover is every 2-4 years.
1
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u/No-Boysenberry-3420 19h ago
Says the guy who says he should pay more in taxes...as he shields his billions from death taxes...by giving it to his kids' charities.
Fucking hypocrite.
2
1
u/noticingEnjoyer 17h ago
So the power brokers that put congress in power just find new obedient pawns?
1
u/carlos5577 17h ago
I think a better incentive structure is to pay politicians in government assets tied to the debt. Pay them a baseline like 1mil and then tie the bonus like an extra 5mil if they manage to get a surplus.
1
1
u/Mr3iron 10h ago
National Sales Tax as well.
If we have a deficit or one over a few years - then a national sales tax should occur to help offset it.
We should automate these things vs rely on idiots to vote for everything. The government shouldn’t shut down because they let it.
I agree to term limits as well. I don’t want career politicians. If they want to do that - then run for local office, governor, etc.
1
0
u/IndyBananaJones4eva 12h ago
Billionaires getting to choose a whole new crop of lackeys whenever they'd like presumably.
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u/Ok-Mathematician8461 13h ago
Sorry America - it’s time to stop blaming your admittedly terrible political class for your problems. They are just the result of your horrible system. You make voting mandatory, on a Saturday, with no gerrymanders and use rank choice voting and your politicians will get better. It’s not rocket science - its proven in other countries.
1
u/Sleepy_Potato2 12h ago
use rank choice voting
I'd say single transferable vote (multi-member version of ranked-choice voting). Single-member districts mean you can't avoid safe districts where some voters won't matter, in a more proportional system, you can do so in most states (those with more than 1 seat), so every vote will matter, since voters have a chance to elect someone they agree at least somewhat with
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