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Re: Obama's fiscal responsiblity summit
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On top of that, the taxes put on the sale of tobacco produce an insane ammount of money every year for the government, and in all honesty, it looks Obama is going to need that... So, because it would be opposed by the other side it's better to be slipped in to something being promoted as "saving the nation." Sounds pretty sneaky to me. And sounds like betrayal of the American people to me. You want to pass legislature such as this, pass it in plain sight, let the general American people know exactly what your doing. Don't put ribbons and bows on it and hide it in a "stimulus package." Quote:
You sir, are ignorant. The slightest raise in taxes can, in essence take thousands, if not millions from most major American corporations. We're talking about multi-billion dollar corporations. 1% of a billion dollars is a prolific CEO, or about 20 floor workers. You don't think any tax raise will affect business, then you have no idea how the American business cycle works. If for nothing else, it gives them a reason to make cuts and expand their bottom line. Raising taxes, in any percentage, is crippling to the American economy, especially in a time of crisis such as now. |
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Re: Obama's fiscal responsiblity summit
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Re: Obama's fiscal responsiblity summit
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As for the taxes, you are overstating the case again and you are fear mongering. It will absolutely positively not have the effect you mentioned. |
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Re: Obama's fiscal responsiblity summit
Why does everyone ignore the fact that most of those 250K are small businesses and not Wall Street fat cats ?
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Socialism doesn't create a rising tide that lifts all boats. It drains the lake and teaches the boat riders not to help themselves by rowing. Jesus loves you, allah wants you dead "Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others." Ayn Rand |
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Re: Obama's fiscal responsiblity summit
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An increase in taxes always slows the economy, but in a recession its negative impact is increased. Removing money from the private sector and giving it to Washington at a time when assets are falling in value across the board is not an example of economic policy - it is an example of left-wing ideology applied to the economy. In addition to the direct negative impact, it sends a clear message to the world: the US is not addressing the recession with pragmatic policy but with anti-growth ideology.
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My good blade carves the casques of men, My tough lance thrusteth sure, My strength is as the strength of ten, Because my heart is pure. "Sir Galahad," by Alfred, Lord Tennyson (1834) |
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Re: Obama's fiscal responsiblity summit
After analyzing all of the economic geniuses in the White House, and their new proposed policies, one might be drawn to a conclusion that someone ELSE is in charge. How could the White House make so many errors in judgment on accident? Impossible!
Hypocrites! And they know that the main stream media will cover them until it is all too late. Insanity. Give him a chance! What? Until it's too late? Think about how many FUNDAMENTAL NATIONAL CHANGES are taking place in a matter of 40 days. If you cannot see your freedom dying off, then I am afraid you are a bit blind in ideology.
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We need REAL accountability, NOW. |
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Re: Obama's fiscal responsiblity summit
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![]() This is entirely false. The reality is exactly the opposite of this. Roosevelt pushed through enormous tax increases and smashed the fragile recovery of the mid 1930s with a battering ram. The economy was sent spiraling downward into the second half of the depression. GDP contracted by 5% in 1938 alone. The plunge began in the fall of 1937. That was eight years after the Great Depression started Amd what "old formula" are you talking about? The 1930s are the great historical example of the disastrous impact of tax increases in the middle of an economic downturn.
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My good blade carves the casques of men, My tough lance thrusteth sure, My strength is as the strength of ten, Because my heart is pure. "Sir Galahad," by Alfred, Lord Tennyson (1834) |
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Re: Obama's fiscal responsiblity summit
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"To take from one, because it is thought his own industry and that of his father has acquired too much, in order to spare to others who (or whose fathers) have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, "to guarantee to everyone a free exercise of his industry and the fruits acquired by it." -Thomas Jefferson |
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Re: Obama's fiscal responsiblity summit
Here's the deal as I know it. A trillion dollars does not just fall out of the sky whenever Obama signs his name.
Now that the stimulus package is signed, our government has to decide how to fund it. Four choices come to mind: 1. Print it and flirt with inflation 2. Tax it and negate the spending (Kinda defeats the purpose) 3. Sell treasurys to whomever can afford to buy them and (this is key) trusts that they will realize a return on investment, (that's our tax money that will have to be collected from us and our kids and our employers at some future date to pay off the treasury notes when they mature, so it's still tax, just not right now) Suppose we are in no better shape then to pay those taxes in the future then we are today, that's my concern if I am China. 4. Cut wastefull spending. Obviously we'll do some of each of the first three. We'll push the envelope of inflation with as much seigniorage as we can get away with, tax whatever entities appear to have cash laying around (idle capital only as taxing away anything that is slated to fund new production would be counterproductive)yea right... and finally sell treasurys to China and Japan, but they have to believe we are going to be fiscally responsible (hence tonight's speech and the flip flop from January "now is no time to worry about the defecit" rhetoric) or they might not be interested in the risk. I'm not sure how much money they have to spend anyway both their economies are hurting now too. The fourth option will get no play. We could cut wasteful spending. I'd drop the war on drugs before the war in Afghanistan. Hell, if pot and opium were legal, Afghanistan might become a good trading partner. Trading partners are friendly. So, as opposed to spending billions on the futile effort to stop mutually beneficial exchanges between consenting adults, we could tax the shit and make money. What do you suppose is the swing between the red ink and the green? According to Jeffery Miron a Harvard economist, roughly 80 Billion per year.
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Re: Obama's fiscal responsiblity summit
Michelle Malkin Priceless video: “Bailout Prize Patrol” confronts AIG, Geithner, Sen. Snowe
This is a GREAT video It shows how insane this bailout and spending bonanza actually is...
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http://www.BHOCOUNTDOWN.com Obama is a man who could deliver a snap judgment about a Boston police officer who arrested an "obstreperous" Harvard professor-friend, but would warn Americans against "jumping to conclusions" about a mass murderer at Fort Hood who shouted "Allahu Akbar." |
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Re: Obama's fiscal responsiblity summit
Awesome video. Hilarious and true.
0:30 and 0:40 are priceless. A nice "before and after" reaction. *Large crowd chants* CSA... CSA... CSA... CSA... Si se puede!
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We need REAL accountability, NOW. |
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Re: Obama's fiscal responsiblity summit
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Re: Obama's fiscal responsiblity summit
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ahh yes and goverment knows how to run their show eh? Uhm hello Freddie fannie, social security, medciare.....? ![]() Quote:
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this is no. 4.......care to give it a go?
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"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose." |
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