Obama economic disaster continues

**Codger_64** · 08-08-2011, 03:37 PM

Originally Posted by jdm61

How about making the 50% of people that aren't paying any income taxes and using most of the services kick in a little?

SUre! Increasing taxes on those in poverty is a great idea! Heck, we could also come up with a way to charge income tax on the billions of dollars earned by the 20 million illegal aliens too! And... export duties on all the money they Western Union every week to Mexico, Guatamala, El Salvadore and other home countries!

**jdm61** · 08-08-2011, 03:40 PM

Are you saying that 50% of the people in the US live below the poverty line? Leftist organizations say that the US actually has the MOST progressive income taxation system in the world. But, they also say that those who actually do pay taxes should pay more. People who say they want the US to be like some of the European countries really need to check out what kind of taxes EVERYONE pays over there. They might just change their minds. If you are a middel class small business owner in Germany, you had better count on sending at least 50% of everything you earn after your legitimate business expenses to Berlin every year. and that is before you pay 19% in VAT on many of the things that you buy and 60%+ of the pump price every liter of gas you put into your car in taxes.

Originally Posted by Codger_64

SUre! Increasing taxes on those in poverty is a great idea! Heck, we could also come up with a way to charge income tax on the billions of dollars earned by the 20 million illegal aliens too! And... export duties on all the money they Western Union every week to Mexico, Guatamala, El Salvadore and other home countries!

**Codger_64** · 08-08-2011, 03:43 PM

Are you saying that the giant multinational corporation, GE is living below the poverty line?

**Triton** · 08-08-2011, 04:14 PM

Originally Posted by jdm61

How about making the 50% of people that aren't paying any income taxes and using most of the services kick in a little?

Oh haven't you heard? If they don't get as much of other people's money that IS them kicking in a little.

**jdm61** · 08-08-2011, 04:18 PM

No, but they are sure taxed at a much lower rate in most other industrialized countries where they do business. Another Euro style program that I am sure many companies would like.

Originally Posted by Codger_64

Are you saying that the giant multinational corporation, GE is living below the poverty line?

**Codger_64** · 08-08-2011, 04:45 PM

Originally Posted by jdm61

No, but they are sure taxed at a much lower rate in most other industrialized countries where they do business. Another Euro style program that I am sure many companies would like.

Well, that explains why they are investing their money in overseas factories with overseas workers.

**Triton** · 08-08-2011, 10:41 PM

Originally Posted by Codger_64

Well, that explains why they are investing their money in overseas factories with overseas workers.

Yes it does. Again, we need to subsidize the behavior we want. If we don't want large multinational companies in this country we are headed in the right direction. All we have to do is continue to attack them via regulation and punitive tax policy and eventually we can drive them right out of the country. I'm sure that will help our economy.

Personally I'm a big fan of the fair tax, but failing that I suggest a flat tax that EVERYONE pays no loopholes. We can set the rate at whatever we decide. You never know, if everyone is paying taxes they may be far less enamored of them. Of course this would have the effect of effectively killing the democratic party but somehow I doubt many people will see that as a loss at that point.

**jdm61** · 08-08-2011, 11:05 PM

After reading what the President said in his speech today about America still being AAA even though S&P downgraded us and the markets are tanking, I can take comfort in tha fact that since he has decided to go all Nero on us and fiddle while Rome burns, at least he can have his choice of at least 4 really bad ass Stadivarius's that he can borrow from the Library Of Congress collection. Go big or go home!!!!

**Triton** · 08-09-2011, 08:26 AM

Originally Posted by jdm61

After reading what the President said in his speech today about America still being AAA even though S&P downgraded us and the markets are tanking, I can take comfort in tha fact that since he has decided to go all Nero on us and fiddle while Rome burns, at least he can have his choice of at least 4 really bad ass Stadivarius's that he can borrow from the Library Of Congress collection. Go big or go home!!!!

I'm glad I'm not the only one that got that impression. It sure seems like he's simply sticking his fingers in his ears and saying "lalalalalalala I caaaan't heeear youuuu!" This seems to be even more the case when he talks about doubling down on his failed stimulus policies. The thought process seems to go something like this: "What? We got our rating cut because we are spending way more than we are taking in? Okay, I know the solution, let's spend MORE money." I'm sure this makes sense somewhere...

**Codger_64** · 08-09-2011, 09:24 AM

Well, the public works projects he mentions wanting to fund will create more temporary construction jobs. Is it too soon to call for another census?

**Triton** · 08-09-2011, 10:08 AM

Originally Posted by Codger_64

Well, the public works projects he mentions wanting to fund will create more temporary construction jobs. Is it too soon to call for another census?

We already tried that? It didn't work before I don't see any reason that it will work now.

**jhakken** · 08-09-2011, 10:35 AM

Originally Posted by Triton

We already tried that? It didn't work before I don't see any reason that it will work now.

I hadn't realized that our infrastructure hasn't worked. Highways and bridges contribute to the economy with more than just construction jobs.

**Triton** · 08-09-2011, 10:48 AM

Originally Posted by jhakken

I hadn't realized that our infrastructure hasn't worked. Highways and bridges contribute to the economy with more than just construction jobs.

Really? See an economic boom around you just now?

**giant1** · 08-09-2011, 04:39 PM

Originally Posted by jdm61

After reading what the President said in his speech today about America still being AAA even though S&P downgraded us and the markets are tanking, I can take comfort in tha fact that since he has decided to go all Nero on us and fiddle while Rome burns, at least he can have his choice of at least 4 really bad ass Stadivarius's that he can borrow from the Library Of Congress collection. Go big or go home!!!!

Originally Posted by Triton

I'm glad I'm not the only one that got that impression. It sure seems like he's simply sticking his fingers in his ears and saying "lalalalalalala I caaaan't heeear youuuu!" This seems to be even more the case when he talks about doubling down on his failed stimulus policies. The thought process seems to go something like this: "What? We got our rating cut because we are spending way more than we are taking in? Okay, I know the solution, let's spend MORE money." I'm sure this makes sense somewhere...

Your President is in good company. A couple of days ago Greenspan was heard in an interview saying that "America will have no trouble paying it's debts because it can always print more money"

The guy sitting next to him looked like he was going to fall off his chair.............

**Triton** · 08-09-2011, 11:13 PM

Originally Posted by giant1

Your President is in good company. A couple of days ago Greenspan was heard in an interview saying that "America will have no trouble paying it's debts because it can always print more money"

The guy sitting next to him looked like he was going to fall off his chair.............

Yes, I heard about that. It's truly perplexing.

**jdm61** · 08-10-2011, 12:12 AM

Well, if you think about it, that's kinda true. Our current debt is valued in dollars regardless of what their actual value on the international market might be at the time.

Originally Posted by giant1

Your President is in good company. A couple of days ago Greenspan was heard in an interview saying that "America will have no trouble paying it's debts because it can always print more money"

The guy sitting next to him looked like he was going to fall off his chair.............

**giant1** · 08-10-2011, 12:54 AM

Originally Posted by jdm61

Well, if you think about it, that's kinda true. Our current debt is valued in dollars regardless of what their actual value on the international market might be at the time.

Still does not make it right.

As the value of a nations currency goes down against that of other nations the cost of imports becomes higher, on the flip side your exports (if you have any) become more attractive to other nations. This is the basic real impact to the average guy on the street (there are others of course, the major one being that what ever money you have saved in the bank loses buying power each time they print more money).

These may sound fairly innocuous except for the fact that the banksters and pollies are hiding their total lack of ability and moral fibre by simply printing money to get out of trouble and at the same time shifting the problem onto the poor citizens through tax increases which WILL come as well as a decreasing any benefits that they can get their hands on.

**quietmike** · 08-10-2011, 01:01 PM

Teetering at the brink:

http://www.telegraph.co.uk/finance/c...ce-dollar.html

If the dollar is replaced as the world currency, the Great depression will be fondly remembered as "the good ol' days".