Well if you believe Paul Krugman we can all breathe a sigh of relief.
http://www.nytimes.com/2010/05/14/op...rugman.html?hp
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Well if you believe Paul Krugman we can all breathe a sigh of relief.
http://www.nytimes.com/2010/05/14/op...rugman.html?hp
Of course, we are too big to fail.Quote:
Originally Posted by Havakasha
Lost me right here, "We’d be better positioned to deal with the current emergency if so much money hadn’t been squandered on tax cuts for the rich"Quote:
Originally Posted by Havakasha
Regardless of the truth, it's the whiney anthem of the left. After hearing it forever, it turns into an immediate "stop".
Tax cuts for the rich is not the only problem, that is for sure. The actual problem is that WE ALL got tax cuts and that really hurts the overall economy in the long run.Quote:
Originally Posted by SiriuslyLong
Government spending is too high for the amount of income that the government brings in. That's the problem!
Political leaders from both parties have called for tax cut after tax cut, without ever offering up cuts to the budget that matched the tax cuts.
It's not a left or right problem. It's an American problem.
If we want our freedoms defended. If we want our children educated. If we want clean air and water. If we want our retired citizens to be cared for. If we want the poor and disabled to be cared for.....and on and on. We have to pay for it.
Greece wanted those things and borrowed the money to do them. We want those things and we borrow the money to them. We're both wrong and that makes us very similar!
Well done Candleman. I agree "Government spending is too high for the amount of income that the government brings in. That's the problem!", and would add that "leakage" or "efficiency" is also part of the problem. I doubt we get $0.80 of goods and services from each tax dollar. That's what burns my ass - even as it relates to stimulus.Quote:
Originally Posted by candleman
I know I've stated this before, but if you give me $1 of stimulus I will either spend it or save it - 100% use of it. Spending is good as it stimulates the local economy PLUS taxes are generated on sales (heck, might even buy some candles -- nice smelly ones that would put my old lady in the mood). If I save it, it creates liquidity in the banks PLUS I pay tax on any interest earned. Do this x 100,000,000 and you're creating something.
This has to be far more effective than Obama handing out money at the Federal level only to have it get "stepped on" at each level.
Let me know if the candles work....LOL
I have never felt good about tax rebates or stimulus of any kind. Unless it is a distribution of surplus funds that the government doesn't need. But, as long as the Federal Government is running any kind of a deficit, OR is in debt of any kind, we shouldn't be giving anything away in the form of stimulus, credits, rebates or whatever. Bush, Obama, they are both the same. They both gave money back to the tax payers and the non tax payers that the government didn't have. On that count, I think they are both wrong.
I know that it's never popular to enact tax increases. But, I think that is the only answer right now. I'm not sure if it's accurate. But, it has been said lately that over 40% of American adults do not pay Federal Income Tax. That's just wrong.
I don't care who you are or what your income level is. We are ALL responsible for our country and it's needs. And we should all be paying the bill.
I'm sure that sounds crazy to both the left and the right. To both Conservatives and Liberals. But, it just makes sense as far as I'm concerned. That's why I hate labels. If we could drop the name calling and actually work on solving the deficits. We would have a stronger country a decade or two from now.
Quote:
Originally Posted by SiriuslyLong
[QUOTE=candleman;62183]Let me know if the candles work....LOL
I have never felt good about tax rebates or stimulus of any kind. Unless it is a distribution of surplus funds that the government doesn't need. But, as long as the Federal Government is running any kind of a deficit, OR is in debt of any kind, we shouldn't be giving anything away in the form of stimulus, credits, rebates or whatever. Bush, Obama, they are both the same. They both gave money back to the tax payers and the non tax payers that the government didn't have. On that count, I think they are both wrong.
[QUOTE]
Spoken like a man who runs a business!!
As for taxes, I think everyone agrees that taxes are the price of democracy. But now we have a new price due to what you cite above.
And by the way, of course candles work!!! I get these lavender scented ones from Bed Bath and Beyond. Now mind you, I'm no sissy boy (quite the opposite actually), but when it comes to the lady, you gotta do what you gotta do.
"Reckless spending continues. America's debt explodes." Tag line on Fox Business News right now.
$13,000,000,000,000 by next week. $42,035 per person.
You think Obama would tone it down a little.
Oil is down to $73. Bad sign?
42 thousand for each one of us. That just flips me out!
I remember when I heard it was 35 thousand a person at some point in the Clinton era, and I was shocked at that.....
It's funny that you mention the price of oil.
70 bucks or so may not be a bad thing for the economy. When it went to 140 or so was when the recession really kicked into high gear.
And I think oil and Greece are tied together in a way. I think a lot of tanker ships come out of Greece for some reason. So, as the world economy faltered and we slowed down our use of oil. That had to have a small impact on the Greece economy and the shipping industry there.
Quote:
Originally Posted by SiriuslyLong
http://imarketnews.com/?q=node/13460
Maybe, just maybe we are not Greece, but damn close!!
IMF released its Fiscal Monitor Report, and the US is far from healthy.
Will we lose our coveted credit rating?
Very funny! Not being sarcastic.:)Quote:
Originally Posted by SiriuslyLong