New Argentina President...cut government in half

[beach43ofus]

Originally Posted by UrbanQuest

Do people know that the majority of government spending goes to the private sector?

People making 150k are worrying about paying to much taxes, when all the tax cuts are designed for the rich, so that that salary might go up to 160k. All the while, now you gotta pay for grannies health bills of 20k per year. The rich then flood the country will masses of migrants so that your new and awesome 160k salary stays that way for 20 years instead of 10.

Let's drill down on that....

...51% of gov't spending goes to "transfers" which is mostly Social Security...which came from the private sector to begin with. The rest are entitlements, that came also come from the private sector...taxpayers.

So, the Feds are mostly giving our own $'s back to us after holding onto it for years, or playing Robin Hood.

Only 15% of gov't spending is purchases made from private sector contractors....mostly defense.

If Biden wasn't spending Trillions on wars & other stuff, we'd be in a recession...the 15% in purchases is masking recession, but causing inflation.

34% is payroll...parasites paying themselves 2.5x the median comp package paid in the private sector.

Gov't gets all of its $'s from the private sector, or it prints Monopoly money that dilutes the value of $'s held by citizens.

Lastly, only the 15% it spends on purchases grows GDP. 85% of the $'s it takes from the private sector doesn't grow GDP.

Investment by the private sector creates 85% of GDP growth. The more gov't takes, the less the private sector has to grow...thus anemic GDP growth.

The gov't is a parasite living off it citizen-hosts. The more $'s it consumes, the less GDP growth the private sector can create.

Gov't creates recessions, inflation, stagflation, bubbles, & wars. The less gov't we have, the better off we are.

Gov't consuming >50% of GDP is why we've had tiny real wage growth in ~70 yrs, 62% live paycheck to paycheck, & low GDP growth.

[wamer27]

Originally Posted by mattja

It needs to be done. Absolutely. And public sector unions need to be abolished. And the pensions as well, except perhaps for those in risky jobs like police and firemen. They should have 401ks like the rest of us.

The problem I see is the govt. has become a jobs program for many people who are unemployable in the private sector. Without their govt. job they'd be on welfare. And I mean this from a competence POV.

So, what to do with these people? The govt. does the taxpayers a disservice by hiring incompetent people, yet we don't want these people on welfare. Perhaps they can find work in fast-food?

My friend went from same private sector job to a city job doing the same thing two years ago. The city staff is all lifers. He pissed them all off badly first day when he did he normal private sector work pace. Since then he’s learned the government way pace. Though his bosses all prefer him for jobs now, he’s already their 1st call on emergencies purely because they like him via his work ethic. They are also getting him the correct schooling to be running the water department in the near future, and this a wealthy city here with a population of 53k. He said they are over staffed for the little work they actually do.

[webster]

Mieli campaigned on not doing business with communists and China is taking him up on his rhetoric. China has recalled their ambassador and the People's Bank of China has suspended $6.5 billion in financial support. Without this support, Argentina will need to renegotiate its debt and seek other funding sources, not easy to do given Argentina's history of default.

It remains to be seen how the Argentinian peso does. It has auctioned off $3.7billion, 10% of GDP and devalued the peso by 50%. What effect China's actions will have remains to be seen, but this week might see the Argentinian peso collapse.

[beach43ofus]

Originally Posted by webster

Mieli campaigned on not doing business with communists and China is taking him up on his rhetoric. China has recalled their ambassador and the People's Bank of China has suspended $6.5 billion in financial support. Without this support, Argentina will need to renegotiate its debt and seek other funding sources, not easy to do given Argentina's history of default.

It remains to be seen how the Argentinian peso does. It has auctioned off $3.7billion, 10% of GDP and devalued the peso by 50%. What effect China's actions will have remains to be seen, but this week might see the Argentinian peso collapse.

Can we merge with Argentina, and make Milei Trump's VP? We'll just convert them to the U.S. Dollar overnight, & prop them up by shifting the Billions we're sending to Ukraine to Argentina instead.

[beach43ofus]

Cutting down the size of gov't is working in Argentina...inflation is down to single digits for the first time in 6 months:

https://www.breitbart.com/latin-amer...time-6-months/

We need to do the same thing here...cut gov't spending/debt big time, says Jamie Dimon & the Feds Budget Director:

https://www.newsmax.com/finance/stre...15/id/1164816/

I propose across the board cuts of 5% for the next 5 years for everything except Social Security, but also phasing out SS for anyone who is under 40 years of age now...moving each persons funds into private accounts run by fiduciary's.

[serger]

Originally Posted by beach43ofus

Cutting down the size of gov't is working in Argentina...inflation is down to single digits for the first time in 6 months:

https://www.breitbart.com/latin-amer...time-6-months/

We need to do the same thing here...cut gov't spending/debt big time, says Jamie Dimon & the Feds Budget Director:

https://www.newsmax.com/finance/stre...15/id/1164816/

I propose across the board cuts of 5% for the next 5 years for everything except Social Security, but also phasing out SS for anyone who is under 40 years of age now...moving each persons funds into private accounts run by fiduciary's.

That's peanuts. I propose 50-75% cut to the "defense" related spending ( the total by now is probably $1.3-1.4 trillion ).

Private accounts? So that fudiciary makes money?