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Thread: Obama: No Deal Without Tax Hikes

  1. #1991
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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by FilmFestGuy View Post
    Or if you really want to go back before WW2, you could go to Hoover's oh-so-wonderful 20% tax rate that led immediately to the collapse of our economy.

    Hoover cuts taxes, income inequality soars, economy collapses.

    Bush cuts taxes, income inequality soars, economy collapses.

    See a pattern here...
    The economic collapse? GDP growth from 9.9 trillion to 14.4 trillion is a collapse? The credit market collapsed but not the economy, it still grew. We seem to have a lot of very misinformed people here. Go to BEA.gov and see that economic collapse you are claiming happened.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Conservative View Post
    Good, veto it, defeat it in the Senate and let the people decide who is right.
    Why would anybody vote for a party that is intentionally putting political appeal ahead of their own policy agenda? What would you even be voting for? Nothing? Just a brand with no actual policy? That's bizarre.

    As for the nonsense about Obama, obviously you aren't paying close attention... For example, the number of new unemployment claims shot up every month for the last two years of Bush until it was around 700,000 new people unemployed every month. That number began falling immediately after Obama took office and more jobs have been created than lost each month for months now. Of course the economy doesn't turn around in just a year or two after the kind of devestation Bush created. it takes a long time. But all the numbers have been moving the right direction ever since Obama took office. The stock market, for example, is up 80% since he took office. 80 freaking percent. It was actually DOWN over Bush's ENTIRE TERM... And you guys want to go back to Bush? Come on.

  3. #1993
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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Conservative View Post
    No true tax cut is spending. Most of Obama's so called tax cuts were expenses thus weren't cuts. Calling it a tax cut doesn't make it one. The items highlighted in bold are tax cuts and that doesn't add up to 237 billion. All the items not in bold were funded by line items in the budget thus were expenses. Keep trying Pb

    Total: $237 billion
    $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
    $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
    $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
    $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
    $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
    $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
    $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit which provides money to low income workers for families with at least three children.
    $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
    $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.
    I'll grant you a tax credit is a give-a-way on the spending side because the tax filer has to "qualify" for the credit. As such, tax credits are the opposite of tax deductions which allow you to "reduce" the amount of your taxable income based on the amount of the deduction. Both have the same multiplier affect: they remove money from the Federal reserve. One gives it away, the other let's you keep more of what you earn, but both require you to "qualify" in order to get the benefit.

    Now, let's be fair if we can...

    If Republicans say that small business employ the most Americans AND you say unemployment is high AND you say that cost of living has increased, doesn't it makes since to use both taxing measures to help stimulate the economy since both methods put money back into the pockets of consumers since we are in a consumer-driven economy?

    Think it through, folks...

    Back to the thread topic...

    Seems the Senate is more willing to compromise on the President's secondary budget proposal - the one offerring $4 trillion in spending cuts. But I wouldn't count the House out yet. For, it seems Boehner's looking for that "Plan B".

    Meanwhile, those Tea Partiers are looking for GOP blood calling both Boehner and McConnell RINOs. This is gonna get ugly, folks. But hey! The GOP wanted hardnosed penny pinchers on their side. Well, looks like they got far more than you bargain for.
    Last edited by Objective Voice; 07-19-11 at 05:38 PM.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Conservative View Post
    Of course Bush is responsible for the debt on his term, 4.9 trillion in 8 years. Obama has generated 4 trillion in three. President's get a lot of help on the debt, they cannot spend a dime without Congressional approval. Congress was under Democrat control from January 2007-January 2011
    Obama hasn't "generated 4 trillion" debt, we have a revenue problem because of the downturn.


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    Re: Obama: No Deal Without Tax Hikes

    teamosil;1059666173]Why would anybody vote for a party that is intentionally putting political appeal ahead of their own policy agenda? What would you even be voting for? Nothing? Just a brand with no actual policy? That's bizarre.
    I don't and didn't vote for Obama, the guy who has created 4 trillion in debt in three years.

    As for the nonsense about Obama, obviously you aren't paying close attention... For example, the number of new unemployment claims shot up every month for the last two years of Bush until it was around 700,000 new people unemployed every month. That number began falling immediately after Obama took office and more jobs have been created than lost each month for months now. Of course the economy doesn't turn around in just a year or two after the kind of devestation Bush created. it takes a long time. But all the numbers have been moving the right direction ever since Obama took office. The stock market, for example, is up 80% since he took office. 80 freaking percent. It was actually DOWN over Bush's ENTIRE TERM... And you guys want to go back to Bush? Come on.
    There are more people unemployed today than when Obama took office and the total unemployment and underemployment number is over 24 million. There is a net job loss so I don't want to hear about any jobs created because they were offset by unemployment. Obama tells you part of the story and you buy it. Tell me how many months we had with 700,000 unemployed and where was the Democrat controlled Congress to prevent it?

    Glad the stock market is up, how about those evil corporations, now where are the jobs?

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Conservative View Post

    A continuing resolution isn't a budget.
    Uh, yeah, it is ...

    Congress Passes Budget for 2011, Sends to Obama for Signature
    Published April 14, 2011 | FoxNews.com

    Congress on Thursday passed a long-awaited budget funding the government for the rest of the fiscal year, though dozens of lawmakers on both sides of the aisle voted against the compromise proposal.

    It wasn't a full budget since we were roughly halfway through FY2011; all that was needed was budget coverage for the remainder of the fiscal year, hence the term, "continuing resolution."

    Quote Originally Posted by Conservative View Post

    I am really concerned about your total incompetence yet claims of brilliance.
    Spits the poster who just said Obama didn't submit the FY2011 budget ... followed saying by the FY2011 budget still isn't passed ... followed by saying the resolution passed wasn't a budget ...

    Quote Originally Posted by Conservative View Post

    I am really concerned about your total incompetence yet claims of brilliance.
    I appreciate that you think I'm brilliant, but that is a claim I have never made.

  7. #1997
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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by pbrauer View Post
    Obama hasn't "generated 4 trillion" debt, we have a revenue problem because of the downturn.
    I am done with you Pb, you don't read or comprehend anything posted to you. Your statement has been refuted and "your" President has done nothing to reverse the downtrend.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Conservative View Post
    I don't and didn't vote for Obama, the guy who has created 4 trillion in debt in three years.
    You're dodging the question. Why would you vote for a party that is turning down opportunities even to advance their own policy goals in favor of political theater like this? How is that defensible? Does the reality of policy matter to you less than the image of your party?

    Quote Originally Posted by Conservative View Post
    There are more people unemployed today than when Obama took office
    Yeah, that's true. We continued losing jobs for about 18 months after Obama took office, but we lost fewer and fewer each month until eventually we were gaining jobs:



    It isn't like the president has a switch on his desk that he can flip to "make jobs" and boom, the entire economy immediately reverses direction you realize. It's a long, slow process. First you stop the bleeding. That takes something like 12-24 months. Then you can start to heal the damage done. That takes a heck of a long time when the damage is that extensive.

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    Re: Obama: No Deal Without Tax Hikes

    unemployment is sposed to be 6.5% by now

    Romer and Bernstein on stimulus - NYTimes.com

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by teamosil View Post
    You're dodging the question. Why would you vote for a party that is turning down opportunities even to advance their own policy goals in favor of political theater like this? How is that defensible? Does the reality of policy matter to you less than the image of your party?



    Yeah, that's true. We continued losing jobs for about 18 months after Obama took office, but we lost fewer and fewer each month until eventually we were gaining jobs:



    It isn't like the president has a switch on his desk that he can flip to "make jobs" and boom, the entire economy immediately reverses direction you realize. It's a long, slow process. First you stop the bleeding. That takes something like 12-24 months. Then you can start to heal the damage done. That takes a heck of a long time when the damage is that extensive.
    Here we go again, different thread same misinformation. Jobs have been created and should have been created by spending over a trillion dollars. BLS shows the net affect is a job loss. there were 142.2 million people employed when Obama took office and there are 139.3 million now. Where are those jobs?

    When Obama took office there were 12.6 million unemployed and now there are 15.1 million, so where are the jobs?

    BLS.gov

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