Joined Nov 10, 2007
23,417 Blog Posts
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And down we go
Wall Street and everyone else wants to have our cake & eat it too, of course. We are all SO worried about the budget deficit. But we don’t want to pay more taxes to get the deficit down.
We want to bs ourselves & insist that the budget deficit will shrink if taxes on the rich get lower. That would be very convenient, but it just isn’t true.
Tax cuts for the rich do NOT help the economy
much, the Congressional Budget Office reports.
“Bush-era tax cuts will cost the U.S. $1 trillion over the next decade.”
http://www.huffingtonpost.com/2012/09/24/bush-era-tax-cuts-economic-growth_n_1910344.html
Right,
And everyone in a position of power fails to realize that those deficits, aka spending, winds up as income on the private sector side.
It’s literally the dumbest thing ever.
We could stand to have more infrastructure spending, especially for the Northeast, but that would not help the deficit in the short term.
Since when is spending needed dollars into a struggling economy a bad thing? The only thing that requires a balanced budget is a made up law by lawyers. All fed spending becomes private sector income. All dollars originate within the federal govt. The only way they get them out to all of us is to spend them.
yea cause we didnt build that, ..right.
How about slashing government spending and lowering taxes so the private sector can invest in business which would help generate job growth?
Hadn’t thought of that one, huh?
FXTRADEX6, that’s sarcasm, I hope. You’ve got it exactly backwards. While currency itself technically does originate with the federal government, its value originates only from activity in the private sector. Having Ben print out value-empty currency and distributing in the hope that it will subsequently somehow fill up with private sector value is ridiculous, it is simply economic suicide. Do you understand the dynamics of counterfeiting? Of a Ponzi scheme? We are forced to conclude that those responsible for this policy either have very sinister intentions, or suffer from ghastly levels of stupidity.
Again with the unbiased sources, eh? PuffHo? You have less credibility every time you post.
They cited the Congressional Budget Office which is non-partisan. I am not going to search the Net for hours coming up with sources that Tea Partiers feel comfortable with. Some things are facts no matter who says them.
Why on earth anyone wants the government to suck up the currency out of the private sector that they need to survive on a daily basis (Tea Party) is beyond me. Totally illogical.
Suck the curremcy out of the private sector? That’s what a tax is!
The same CBO that can’t make up its mind on Obamacare costs, er, savings, er costs, er ……..lol
CBO unbiased… ha ha ha now thats a funny ass joke.
keep believing everything they tell you, sheeple
The only way the US is practically able to deal with the defecit is to inflate it into nothingness.. The result will be what I have termed Dynamic Hyper Stagflation (DHS). An everchanging cyclical form of cost push inflation that will interrupt the supply chain in this country causing Sandy style dislocations in our commerce. This will cause a public revolt and help spur the inititiation of the new Global Currency Regime via an SDR which is becoming talked about more and more on a daily basis.. This is the only practical and plausable scenario with respect to the debt shit storm we are in.
Sierra Water
The inflation thing is myth. Total and utter myth.
Perhaps but hyperinflation is not.
FX, you should consider doing more research in life, especially if you consider yourself a trader. Inflation and HyperInflation or what I termed DHS, have nothing to do with one another. What will be occuring will develop over a very short period of time due to a currency event, which is yet to occur. This is not up for debate, this is mathematics. The question is more to do with when, not if. Regardless of what anyone says on this here board, the outcome is set in stone which will produce one of several potential global monetary systems that are already in the final stages of outline.
Idiot. The only reason there’s a deficit is because private central bankers have intentionally manipulated the political backroom to ensure they are lending to the US govt at high volume, paid for with interest (taxes on you and me).
The debt could be paid off in one minute by the US govt simply wiping the debt off the books and saying fuck you to the central bankers.
This doesn’t happen because the central bankers coordinate their activities through the Bank of International Settlements, and they literally control most govts and their militaries via the backdoor. No media outlet owned by them will ever report this.
Which is why you are in the dark.
Also, when people are given a list of major expenses & asked what they want to cut, the overall vote is to cut nothing. Each person does want to cut what benefits someone else but not what benefits them. So overall there is no majority wanting to cut any particular thing. Everyone is in favor of someone else making sacrifices in order to reduce the deficit.
How about cutting entitlements like SNAP cards, “emergency” medicaid for illegal immigrants and welfare? Do any of those make your list, Frog?
What are SNAP cards?
SNAP = Food stamp debit cards
Oh, I found it. It’s not a problem for you if children go hungry? Would you prefer to keep welfare for the rich corporations instead, like oil company subsidies? And to increase the budget deficit with extended tax cuts for the rich, because, after all, the rich are more deserving than hungry children?
Not to mention that food stamps are far less expensive, adding much much less to the deficit than welfare for the rich.
Yes, everyone wants to suck off of the government teat themselves, while blaming someone else for increasing the deficit.
That’s why we are in this mess. But this attitude is not going to get us out of it.
I have no problem with food stamps, have had family members use them. (no politics)
Those and various other programs are known as economic stabilizers. They do just that. Without them what do you think the economy would look like right now?
People far more intelligent than the average US citizen designed the system in place today, since 1970/71ish to be exact.
I’m not here advocating handouts and what not, but my god they do far more for the economy than most people give it credit for.
You’ve managed to address one of the 3 programs I mentioned. Congrats on your selectivity. And those programs are social stabilizers right up until the moment that they, along with other grotesque expenditures like inflated defense spending, drive a stake through the heart of the nation.
Can you cite some examples of welfare for the rich? Just curious what you come up with….
Welfare for the rich is:
Whenever someone who’s making a good living for themselves refuses to lie down and be treated like a cash dispensary for the latest hairbrained scheme coming out of Washington.
Bam! Fucking welfare, right there…
Since I’m obviously addressing a group of mostly low income earners, it’s fairly plain to see why so many of you are quick to want to pile on the “wealthy” while the low wage earners [read: you] continue to pay virtually nothing. Commence with “I could buy you, motherfucker” exhortations now.
Now I understand you’re not to blame for this decidedly un-democratic and non-egalitarian arrangement, but surely you can’t believe it fair that I should pay 40% while you pay nothing?
If you Statist Lefties really wanted to do the right thing (which you clearly do not), you would agitate for a consumption-based tax. In that way, those so-called impoverished non-payers I see who frequently manage to pay for such luxuries as 500 channels of cable TV, iPhone 5, 70″ LCD TVs and week-end trips to Cancun still pay their fair share. Amazing, so many are broke ass broke but still manage conspicuous consumption. But of course sucking off the teat is exactly what most of you long for.
People like myself who work hard, earn and pay MORE than my fair share (plus do not spend profligately and save a sizable amount) should not punished for being responsible but only taxed on their consumption. Same applies to all our impoverished friends in the lower tax brackets.
BINGO!
Dude, you are the first person these Obama Zombies are going to go after when they are allowed to pick your wallet dry, legally.
Perhaps people who can’t afford to feed their children shouldn’t have them in the first place.
What Personal responsibility?
If I hear the word conciliatory one more time…
conciliatory. conciliatory . conciliatory. conciliatory. conciliatory.
What you gonna do about it? Huh?
In the modern day that would be Angela Merkel holding up the head of Mario Draghi shouting;
“Ihr seid verfluchte hunde” (you are all cursed dogs”.
markets getting dangerous for bulls and bears..whipsaw city dead ahead
I Chinee rap star, most honorable weecomendation: short sale on contry star Taylor Slow
Time to talk about Fly’s friend who thinks the Dow is headed to 7.
Merlin has hypnotized The Bearded Clam.
WOW. To commemorate the obama win . Mcdonalds offers a new happy meal. You stand in line order your meal and the guy behind you pays for it.
The Happy Communitarian Meal.