Obama Lays-Out $1.5T in New Taxes

[javaguru]

I don't think that it creates an entitlement culture in the same fashion that I don't see the mass advertising create the consumerism culture. Hells bells! I could start blaming the fat kids on McDonald's and the lending on the banks (vs the ones taking the bad loans), no?



It's a sad state of affairs when the heads are SO polarized where anything that is cut causes people to say that XXX (insert blame group) is the devil / Nazis / terrorists.

Getting a government check that is guaranteed is very different than someone spending their money on a product they were convinced to buy...My ex-wife didn't buy a coach bag until she got a promotion at UPS. I can go down to the central bus station tomorrow and get .50 cents on the dollar for a welfare card..great benefit for me but the person I bought it from is probably going to use the money to buy illegal drugs, cigarettes and alcohol...

 

[mrplunkey]

Returning to the same tax rates as the last time America was still prosperous? How is that a problem?

You cite this like a broken record and I can't tell if you don't understand it, or you are just sticking to your talking points.

Let's try it one more time.

Yes, tax rates were 39%. And we were also experiencing the ramp-up of a world-changing technology (the Internet). And on top of that, there was an additional $5T of fake, speculative money that didn't really exist caught-up in the Internet bubble.

Context matters. If it didn't, I could solve the entire unemployment problem with one big idea:

The last time we spent 36% of our GDP on defense and had only 1.1% unemployment. Why don't we just raise defense spending so we'll practically have no unemployment? Oh yeah, it was during 1943. Was anything else happening back then?

 

[75th]

shareholders are the american people so yeah actually it would be a pretty good fuckin idea.

also just a thought, how is increasing the deficit going to help anyone? i mean i never understood this, im sure some keynesiest can step in and explain how increasing agregate expenditure artificially through infrastructure spending actually helps people?


when clearly investment and growth via savings are imperative to growth....

i mean, spending isnt everything... especialyl on things that the gov forces the spending on? only to cause a bubble and have it collapse, yeah that makes fucking sense, in canada up here, we are becoming more business savy, and its helping everyone, mixing socialism with liberty doesnt fucking work, infact it makes the liberty look like it doesnt work!

its an infectious culture that is killing your economy, look at europe.. socialism doesnt FUCKING WORK. its finally caught up to the older generations, they are the ones to blame.


rant over.

When did I claim raising the deficit was a good idea? It's not something I look forward to, but one only has to look at the events of the past 6 months to prove to themselves that our financial situation isnt nearly as dire as it's been made out to be. What are the interest rates on Treasury bonds again? Exactly.

 

[75th]

He should have just cut the social spending, deplete the military, and kept healthcare and medicaid; but that would not likely happen because there are special interest groups tied to each one of those things.

Funny thing is - you get us out of Iraq and Afghanistan and get unemployment back down to 4.5% and you'll see that deficit erode pretty quickly.

Although I dont agree with the jobs bill (or much Keynesian spending at all), I see where Obama's head is at. And if it is going to go through, Id rather the wealthy pay a 25% effective tax rate to make it happen as opposed to the middle class getting hammered.

 

[Whiskey]

Under which president were taxes the highest? F-it, I say lets take it back to those levels, but only as long as some programs are cut back. I'm tired of hearing about people around here getting 3-400 a month on thier link card for groceries when they don't need it

Whiskey

 

[musclemom]

Under which president were taxes the highest? F-it, I say lets take it back to those levels, but only as long as some programs are cut back. I'm tired of hearing about people around here getting 3-400 a month on thier link card for groceries when they don't need it

Whiskey

OMG, where do you live! The letter my stepdaughter got back from public welfare said that she qualifies for no aid other than medical assitance:
1. Because everyone in the household was not a seasonal or migrant worker.
2. Because the household has more than $100 cash and all monthly income before expenses was more than $150 (and they don't count car payments or insurance, groceries or any expenses OTHER than mortgage/rent, physicians/prescription meds, and utilities as expenses).
3. The total household income before expenses (and see what they don't count) is equal to or more than monthly shelter expenses.

 

[Whiskey]

MM, sadly smack dab in the middle of IL. I swear if it wasn't for the low cost of living and a good job my arse would be outta here

Whiskey

 

[mrplunkey]

When did I claim raising the deficit was a good idea? It's not something I look forward to, but one only has to look at the events of the past 6 months to prove to themselves that our financial situation isnt nearly as dire as it's been made out to be. What are the interest rates on Treasury bonds again? Exactly.

Treasury rates remain low because even as much as we suck, Europe sucks even harder. They've made many of the same terrible decisions we have (and continue to make) -- they're just a little ahead of us.

It's like being the thin person at the All-You-Can-Eat Great American Buffet. I'm not sure that's much of an achievement.

 

[75th]

People could have poured their money into Australian or Swiss debt. Remember how an S&P downgrade would make Treasury rates shoot up to 10%?

Despite the rhetoric, were still the wealthiest country in the world and the safest bet in town. The bond market tells no lies.

 

[bren565]

People could have poured their money into Australian or Swiss debt. Remember how an S&P downgrade would make Treasury rates shoot up to 10%?

Despite the rhetoric, were still the wealthiest country in the world and the safest bet in town. The bond market tells no lies.

your right.. the us % is like 2 on a ayield andsome europe bonds are 35 + (something outrageous)

but this cant last forever there needs to be some kind of plan to get things back to a reasonable level.