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More for mrplunkey - "Class Warfare"

$700B over ten years? Barry blew through $875B in a wasted stimulus in a single year.

You are making the incorrect assumption that you could even get to that 2.5% wealth. We tax income, not wealth.

And P.S.

Renunciations of US Citizenship
2008: 226
2009: 731
2010: 1485

I see a distinct trend.
 
mrplunkey said:
$700B over ten years? Barry blew through $875B in a wasted stimulus in a single year.

You are making the incorrect assumption that you could even get to that 2.5% wealth. We tax income, not wealth.

And P.S.

Renunciations of US Citizenship
2008: 226
2009: 731
2010: 1485

I see a distinct trend.
Click to expand...
Those stimulus packages were jokes, I don't know why anyone Bush, Obama, House, Senate, fell behind them so quickly, it just paid off the people responsible for f'ing up the situation in the first place.
 
so where do we go from here??

oilsand?? sell to china refined oil?? cause the fossil fuels to become radio active once the process is completed??

Sound crazy/?? not really..
 
Lestat said:
Those stimulus packages were jokes, I don't know why anyone Bush, Obama, House, Senate, fell behind them so quickly, it just paid off the people responsible for f'ing up the situation in the first place.
Click to expand...

So we agree on that.

We also know Barry signed the bill into law.

What do you do with a guy who spent almost a trillion dollars destroying a million private sector jobs? Why isn't this be biggest scandal that ever hit Washington?
 
mrplunkey said:
So we agree on that.

We also know Barry signed the bill into law.

What do you do with a guy who spent almost a trillion dollars destroying a million private sector jobs? Why isn't this be biggest scandal that ever hit Washington?
Click to expand...
I think that is a gross oversimplification. He inherited a huge nightmare, I am not pointing fingers at anyone in particular, but rolled in and had to make some quick decisions and relied on some of his people and people who had been there through the entire thing!

The biggest scandal that ever hit our country should be this.

Why did we allow our financial services industry to leverage mortgages 10 to 1 with Credit Default Swaps? Unregulated no less. If that never happened, we'd have no crisis. Plain and simple.
 
Lestat said:
I think that is a gross oversimplification. He inherited a huge nightmare, I am not pointing fingers at anyone in particular, but rolled in and had to make some quick decisions and relied on some of his people and people who had been there through the entire thing!

The biggest scandal that ever hit our country should be this.

Why did we allow our financial services industry to leverage mortgages 10 to 1 with Credit Default Swaps? Unregulated no less. If that never happened, we'd have no crisis. Plain and simple.
Click to expand...

Oh, that one is easy.

Because those really crappy mortgages were social engineering experiments created by Congress and implemented through Fannie and Freddie. And isn't it odd that the huge financial reform bill that's supposed to keep this from happening again doesn't mention Fannie and Freddie at all? And equally odd that Barny Frank is still riding high in Congress?
 
mrplunkey said:
Oh, that one is easy.

Because those really crappy mortgages were social engineering experiments created by Congress and implemented through Fannie and Freddie. And isn't it odd that the huge financial reform bill that's supposed to keep this from happening again doesn't mention Fannie and Freddie at all? And equally odd that Barny Frank is still riding high in Congress?
Click to expand...
What congress tried to do with getting lower income families in homes wouldn't have caused a dent in the economy and housing market on its own. Not a good move, but small and contained. Greed and fraud spiraled that shit out of control. Lets make sure we point the finger at the real culprits here, not scapegoats.
 
Lestat said:
What congress tried to do with getting lower income families in homes wouldn't have caused a dent in the economy and housing market on its own. Not a good move, but small and contained. Greed and fraud spiraled that shit out of control. Lets make sure we point the finger at the real culprits here, not scapegoats.
Click to expand...

Greedy people took advantage of GSE's by reselling them crappy mortgage, letting them guarantee it and sell it on to investors.

I don't blame them for taking advantage of a government program. If the government wants to setup a mechanism for getting screwed, then we shouldn't act shocked when the screwing actually happens.
 
We have lost 16% of the number of total millionaires in this country under Odumbo. 1 out of 6 pre-obama no longer have $1 million in total net worth.


Ironically, that totaled over 140 Billion less in federal tax income also.

We will soon be closing in on 1 in 4 people receive food stamps.
 
mrplunkey said:
$700B over ten years? Barry blew through $875B in a wasted stimulus in a single year..
Click to expand...
40+% of the stimulus was Tax cuts. So your saying tax cuts dont work to fix the economy? Humm?
And 750,000 jobs were being shed PER MONTH before the stimulus, It quickly stopped and started to decline after the stimulus.
So, it wasn't the stimulus it was Magic or Rick Perry's prayers being answered?
 
brownbrown said:
40+% of the stimulus was Tax cuts. So your saying tax cuts dont work to fix the economy? Humm?
And 750,000 jobs were being shed PER MONTH before the stimulus, It quickly stopped and started to decline after the stimulus.
So, it wasn't the stimulus it was Magic or Rick Perry's prayers being answered?
Click to expand...

Ohio State researchers showed that Barry's stimulus destroyed 1,000,000 private sector jobs.

He took a bad situation and managed to make it much, much worse. He's screwed-over a generation of people because a lot of those jobs are never coming back.
 
mrplunkey said:
Ohio State researchers showed that Barry's stimulus destroyed 1,000,000 private sector jobs.

He took a bad situation and managed to make it much, much worse. He's screwed-over a generation of people because a lot of those jobs are never coming back.
Click to expand...
Economist say that stimulus created 3 million jobs.

Economists agree: Stimulus created nearly 3 million jobs - USATODAY.com

So my favorite College is wrong. O H...IO
Nice not to address that fact that 750,000 jobs lost a month were being lost before the Stimulus.... Stimulus and it stopped ???
How did it happen? Magic?
 
gotmilk said:
We have lost 16% of the number of total millionaires in this country under Odumbo. 1 out of 6 pre-obama no longer have $1 million in total net worth.
Click to expand...

We dont think that had anything to do with that little recession we just went through?
 
brownbrown said:
Economist say that stimulus created 3 million jobs.

Economists agree: Stimulus created nearly 3 million jobs - USATODAY.com

So my favorite College is wrong. O H...IO
Nice not to address that fact that 750,000 jobs lost a month were being lost before the Stimulus.... Stimulus and it stopped ???
How did it happen? Magic?
Click to expand...

Well of course you can't sustain losing 750,000 jobs/month. Eventually the economy would completely bleed out. What isn't happening are new jobs being added back at a rate faster than new would-be employees are entering the marketplace. That's why good old Barry is stuck at 9+% unemployment (closer to 20% in practice).

Where's our vigorous recovery? It's not happening. Barry inherited a mess and managed to make it stagnate.
 
mrplunkey said:
He took a bad situation and managed to make it much, much worse. He's screwed-over a generation of people because a lot of those jobs are never coming back.
Click to expand...

lol

Lemme guess...it's because of the deficit that the above is true, right?

Double lol @ anybody thinking that, due to the cause and severity of this recession, that unemployment wouldnt rise to double digits and remain there for an extended period of time.

Save for the government pushing forward a massive jobs program (which the stimulus was not), this was going to happen no matter what was or wasnt done.
 
mrplunkey said:
Where's our vigorous recovery?
Click to expand...

You obviously need to go out to dinners more often. Preferably with some econ 101 professors along for the free sushi.
 
question.. how many jobs does one oil well create??

how many jobs at $80k year could the stimulus have been used for.. meaning.. if the money had just been handed to people at $80k yr how many people could it have employed..?? and for how many years??
 
mrplunkey said:
Well of course you can't sustain losing 750,000 jobs/month. Eventually the economy would completely bleed out. What isn't happening are new jobs being added back at a rate faster than new would-be employees are entering the marketplace. That's why good old Barry is stuck at 9+% unemployment (closer to 20% in practice).

Where's our vigorous recovery? It's not happening. Barry inherited a mess and managed to make it stagnate.
Click to expand...
Vigorous Recovery has been stifled by the GOP stopping ALL legislation proposed to to help the economy. This isnt new:

1925: top tax rate dropped from 61% to 25 %
1928 : Stock prices raise 40%
1929 : Stock market crashes
1930: unemployment rises from 3.2% to 8+%
1932: unemployment 13% to 23%
1933 : FDR passes Glass-Stegall, And recovery act. He tries his best to redistribute wealth from rich to poor.
1934: Unemployment drops from 25% to 21%
1936 : TOP TAX RATE IS RAISED FROM 25% TO 79%
UNEMPLOYMENT DROPS FROM 20% TO 16%.

1939: FDR loses some political power. Pressed by the GOP into Cutting the Budget 17% UNEMPLOYMENT RISES FROM 14% TO 19%.

Theres your history lesson. The GOP plan used now is NOT NEW. they have tricked millions into thinking that Cutting will cure the economy. But History tells us that it doesnt work and Stimulus is what turned the economy around.

But the GOP is bent on making Barry fail by using US as the pawns.

It's funny that people dont even notice the games the GOP is playing. So the Lemming fall in line.
History tells all..
 
SpyWizard said:
how many jobs at $80k year could the stimulus have been used for.. meaning.. if the money had just been handed to people at $80k yr how many people could it have employed..?? and for how many years??
Click to expand...

With that logic, why not just support a large public works project? High speed rail, natural gas drilling, the list goes on and on.

If the intended end result was to simply create as many jobs as possible, the closest you could come to guaranteeing that was accomplished is to simply have the government go on a hiring spree.

And no, plunk, that hasnt been done already despite what the Heritage Foundation emailed you this morning.
 
brownbrown said:
Vigorous Recovery has been stifled by the GOP stopping ALL legislation proposed to to help the economy. This isnt new:

1925: top tax rate dropped from 61% to 25 %
1928 : Stock prices raise 40%
1929 : Stock market crashes
1930: unemployment rises from 3.2% to 8+%
1932: unemployment 13% to 23%
1933 : FDR passes Glass-Stegall, And recovery act. He tries his best to redistribute wealth from rich to poor.
1934: Unemployment drops from 25% to 21%
1936 : TOP TAX RATE IS RAISED FROM 25% TO 79%
UNEMPLOYMENT DROPS FROM 20% TO 16%.

1939: FDR loses some political power. Pressed by the GOP into Cutting the Budget 17% UNEMPLOYMENT RISES FROM 14% TO 19%.

Theres your history lesson. The GOP plan used now is NOT NEW. they have tricked millions into thinking that Cutting will cure the economy. But History tells us that it doesnt work and Stimulus is what turned the economy around.

But the GOP is bent on making Barry fail by using US as the pawns.

It's funny that people dont even notice the games the GOP is playing. So the Lemming fall in line.
History tells all..
Click to expand...

The New Deal was something much more than a stimulus...it was a complete revamp of our society.

The stimuli passed in 08 (both Bush's and Obama's) were completely unnecessary. You cant compare The New Deal to the recent attempts to prop up our economy.
 
75th said:
With that logic, why not just support a large public works project? High speed rail, natural gas drilling, the list goes on and on.

If the intended end result was to simply create as many jobs as possible, the closest you could come to guaranteeing that was accomplished is to simply have the government go on a hiring spree.

And no, plunk, that hasnt been done already despite what the Heritage Foundation emailed you this morning.
Click to expand...

Yeah, but he read that email over breakfast. :confused:
 
miplank said:
Yeah, but he read that email over breakfast. :confused:
Click to expand...

Was the breakfast in a restaurant where at least 1 person who took an economics class in college was present?

If so then maybe he's right. :confused:
 
75th said:
The New Deal was something much more than a stimulus...it was a complete revamp of our society.

The stimuli passed in 08 (both Bush's and Obama's) were completely unnecessary. You cant compare The New Deal to the recent attempts to prop up our economy.
Click to expand...
touche.
barring the New Deal. GOP The Market de-regualtion,lowering top tax rates relation to Unemployment are near equal. (substance wise)
Along with the Cutting the Budget alone is the cure Rhetoric
 
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