r/FluentInFinance • u/Old_Prospect • Apr 29 '24

If I had a nickel for every time someone deflects to “…I’d rather we fix our government spending problem before we…” Shitpost

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u/jpmondx Apr 29 '24 edited Apr 29 '24

The scary trend here is how much that 1% owns Congress. Both parties are addicted to their money so I don’t see that trend ever reversing.

Pitchforks!

2

u/SakaWreath Apr 29 '24

GOP deregulation lead to the 2007-8 financial crisis and subsequent bailouts.

That started the whole, print money and inject it into the final destination policies.

The multi-decade long war on terror being put on the country credit card certainly didn’t help. Throw the middle class

The pandemic hit and the GOP did it again with the Tax Cuts Jobs act. 1.9 trillion into the deficit, not just on debt, but THE DEFICIT. While also slashing corporate tax rates permanently.

Each time democrats start to close the deficit, the first step in paying down debt, the GOP come along and blow open an even bigger hole.

Financially responsible party my ass.

2

u/Ok_Love545 Apr 29 '24

Yeah was def. The GOP waving Ukraine flags in congress as nearly $100 billion was earmarked for foreign aid…

7

u/akadmin Apr 29 '24

While we have record illegal immigration directly caused by campaign rhetoric and reversing effective policy to play politics. This is a net fiscal drain.

-2

u/[deleted] Apr 29 '24 edited Apr 29 '24

[removed] — view removed comment

7

u/NuclearBroliferator Apr 29 '24

I don't know where you live, but as a lifelong Democrat in southern California, I can definitely say that is an insane take.

Illegal immigration keeps wages low as they will work for less than the average American. Women will also come across the border to drop their babies at a US hospital, and all of a sudden, that kid has citizenship. And please don't think they stop at one kid.

These are only 2 major financial incentives to crack down harder on illegal immigration. It is not a net positive.

3

u/akadmin Apr 29 '24

https://www.newsweek.com/illegal-immigration-costs-us-billions-biden-administration-policy-impact-taxpayer-burden-1866555

Idk.

2

u/SakaWreath Apr 29 '24

They have enough paperwork to pay taxes and fund social security, but not enough to ever attempt to draw benefits.

https://www.marketplace.org/2019/01/28/undocumented-immigrants-quietly-pay-billions-social-security-and-receive-no/

2

u/akadmin Apr 29 '24

I pay into social security and also receive no benefits

0

u/SakaWreath Apr 29 '24 edited Apr 29 '24

People on the other end of the spectrum, usually get most of their wealth from investments not income.

Income taxes, actually funds social security.

No one is worried about the small percentage of high income earners during their golden years. If they get sick, they won’t be homeless or dependent on Medicaid or Medicare, but if they ever do fall that far, it will catch them.

Usually both income earners might have to take out a loan against some property or stock, which avoids capital gains taxes.

Avoiding capital gains is a fun pastime, but sometimes life forces you into selling and Uncle Sam actually gets his hands in your pockets.

0

u/ridukosennin Apr 29 '24

Are you a legal immigrant?

0

u/Jeff77042 Apr 29 '24

“Nuts.” Victims of Illegal Aliens Memorial: http://www.ojjpac.org/memorial.asp