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08/10/2011 01:54:32 PM · #226 |
Originally posted by DrAchoo:
Who wants to bet the automatic cuts take effect because no agreement can be reached? |
I bet if those automatic cuts included salary and benefits for congress and staff we'd get some action ... |
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08/10/2011 03:50:44 PM · #227 |
I got this sent to me on Facebook. It is friggin awesome!
Dylan Ratigan loses it on air over the deficit |
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11/18/2011 04:26:52 PM · #228 |
Originally posted by GeneralE:
Originally posted by DrAchoo:
Who wants to bet the automatic cuts take effect because no agreement can be reached? |
I bet if those automatic cuts included salary and benefits for congress and staff we'd get some action ... |
Probably should have been that way Paul...
News flash: Congress is populated by spineless morons.
Realize the required 1.2 trillion cut is really only about a 10% cut in the budget over 10 years and about 10x that would be required to balance the budget. And they can't even agree on THAT! It's hopeless. Absolutely hopeless.
I saw a blog on the "do nothing" plan which is basically to send congress packing and allow things to expire. It would actually almost balance the budget in 7 years but would, of course, be very painful including in my own profession with 30% cuts in Medicare payments.
Message edited by author 2011-11-18 16:27:38. |
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11/18/2011 04:34:58 PM · #229 |
Perhaps more people should "lose it". |
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11/18/2011 04:40:02 PM · #230 |
Originally posted by DrAchoo:
We should start a pool on whether or not we are going to get this thing done. Frankly it's a bit scary because all I hear are games and posturing and covering your tail by both sides. Where are the consensus builders? Where are the people who care about our country?
The Republicans make me so frustrated when they seem to think negotiation involves deciding whether we are going to do it their way now or later. The Dems aren't much better and Pelosi can go jump out a window for all I care. I honestly think Obama is trying to build some consensus, but he's a bit too much mild-mannered parent trying to calm the third-grade classroom after punch and cupcakes. "Please behave children. Johnny, you shouldn't do that to Ashley. Ok, who took the juice?"
Whew. Sorry, I just had to vent. I'm trying to decide whether to pull all my money out of the market in anticipation of Armageddon. Somehow I still suspect there's going to be a last minute deal of no substance... |
omg i'm gonna agree with you.....exactly what are we paying them for at this point, and yes i think obama is trying but he's the parent who never had to beat his kid's ass. well sometimes life calls for an ass whoopin. there should be a way to fire all the politicians when things like this happen
Message edited by author 2011-11-18 16:42:27. |
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11/18/2011 04:59:05 PM · #231 |
| Wonder if anybody on the supercommittee will take note that Big Banks (the "job creators" currently making billions) announced 75,000 job CUTS today despite the Bush tax cuts. I'm gonna bet no. |
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11/18/2011 05:01:39 PM · #232 |
Originally posted by scalvert:
Wonder if anybody on the supercommittee will take note that Big Banks (the "job creators" currently making billions) announced 75,000 job CUTS today despite the Bush tax cuts. I'm gonna bet no. |
I think the logic, if there is one, is the Bush tax cuts have already been pocketed used up and so more tax cuts are needed. |
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11/18/2011 08:18:25 PM · #233 |
Originally posted by yanko:
I think the logic, if there is one, is the Bush tax cuts have already been pocketed used up and so more tax cuts are needed. |
To do what exactly? No successful businessman, even with vast piles of excess cash, invents in more business unless there's demand. And when there IS demand, that same person will gladly invest his own money (we are talking about people making millions, after all) or get a loan to take advantage of that opportunity regardless of the marginal tax rate. Warren Buffet said as much on national TV earlier this week. Cutting taxes on the rich while cutting social spending has the direct effect of reducing revenue and increasing the need for social support. It creates mass uncertainty at the consumer level, thus slashing demand and discouraging investment. The last thing in the world the people with the most money need is a tax cut. What they need is a reason to invest it in something other than the stock paying the highest dividend.
The top tax rate was slashed from 73% in 1921 down to 25% in the mid-to-late 1920's, and that didn't work out so well for job creation. Now we've gone from 70% in 1980 (already the lowest rate since 1936) down to 35% and expect different results? Spineless morons indeed... although some are probably more evil than stupid. |
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11/18/2011 08:27:35 PM · #234 |
Originally posted by scalvert:
Originally posted by yanko:
I think the logic, if there is one, is the Bush tax cuts have already been pocketed used up and so more tax cuts are needed. |
To do what exactly? No successful businessman, even with vast piles of excess cash, invents in more business unless there's demand. And when there IS demand, that same person will gladly invest his own money (we are talking about people making millions, after all) or get a loan to take advantage of that opportunity regardless of the marginal tax rate. Warren Buffet said as much on national TV earlier this week. Cutting taxes on the rich while cutting social spending has the direct effect of reducing revenue and increasing the need for social support. It creates mass uncertainty at the consumer level, thus slashing demand and discouraging investment. The last thing in the world the people with the most money need is a tax cut. What they need is a reason to invest it in something other than the stock paying the highest dividend.
The top tax rate was slashed from 73% in 1921 down to 25% in the mid-to-late 1920's, and that didn't work out so well for job creation. Now we've gone from 70% in 1980 (already the lowest rate since 1936) down to 35% and expect different results? Spineless morons indeed... although some are probably more evil than stupid. |
ROFL! I literally just finished watching HP & the Deathly Hallows part II. |
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11/19/2011 02:39:32 AM · #235 |
Originally posted by scalvert:
Originally posted by yanko:
I think the logic, if there is one, is the Bush tax cuts have already been pocketed used up and so more tax cuts are needed. |
To do what exactly? No successful businessman, even with vast piles of excess cash, invents in more business unless there's demand. And when there IS demand, that same person will gladly invest his own money (we are talking about people making millions, after all) or get a loan to take advantage of that opportunity regardless of the marginal tax rate. Warren Buffet said as much on national TV earlier this week. Cutting taxes on the rich while cutting social spending has the direct effect of reducing revenue and increasing the need for social support. It creates mass uncertainty at the consumer level, thus slashing demand and discouraging investment. The last thing in the world the people with the most money need is a tax cut. What they need is a reason to invest it in something other than the stock paying the highest dividend.
The top tax rate was slashed from 73% in 1921 down to 25% in the mid-to-late 1920's, and that didn't work out so well for job creation. Now we've gone from 70% in 1980 (already the lowest rate since 1936) down to 35% and expect different results? Spineless morons indeed... although some are probably more evil than stupid. |
You're preaching to the choir. You're right, tax cuts don't create jobs. Well, unless it's a job in congress. |
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