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Thread: Worst day since 2008 financial crisis

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by AdamT View Post
    Seriously, give it up. It was a payroll tax cut of $400 per individual and $800 per family. Technically it was a rebate, but witholdings were adjusted to account for the rebates, so the cut was paid out over the course of the year.

    The Making Work Pay Tax Credit
    Which means it wasn't a payroll tax cut as I cut and pasted. That obviously was wrong but the fact remains it was a rebate check of taxes you already paid and was paid out over time giving the govt. the use of your money. The results speak for themselves but results that you ignore. Withholding rates were reduced and amounted to a very small increase in your take home pay thus the limited results. Once the rebate was gone so was your so called tax cuts.

    Obama: Stimulus tax cuts will be felt by April 1 - USATODAY.com

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Helix View Post
    I agree with a lot of this.

    Not sure how wall street thought we could recover without putting people back to work. People without discretionary income cannot effectively participate in the economy. The "recovery" without jobs is a castle made of sand.
    Boehner said if cuts lead to job loses, so be it.

    I think the GOP is barking up the wrong tree. They are really concerned about the government and making cuts, but after passing that debt ceiling bill full of cuts this is happening anyway. Cutting government spending and taxation isn't going to fix the recession the people are feeling. The spending need cut, but the deficit and recession are two different problems. Fixing the recession requires that the people have jobs and have needed money and money to spend. The growing gap between rich and poor isn't going to sustain us in the long run. If America's economy hits the bricks, the entire global economy will shrink again too. America has been the most irresponsible in this whole mess. America started a global recession as far as I am concerned.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by liblady View Post
    jobs won't be created as long as consumers don't buy. it's CONSUMERS who create jobs, not the wealthy. when will people wake the **** up?
    The middle class is the backbone. The emergence of the middle class is what made capitalism so great.

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    Re: Worst day since 2008 financial crisis

    Wow, two deep recessions in half a presidential term?

    This president is impressive.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Conservative View Post
    Right, the Tea Party wants to crash the govt. by forcing them to cut spending which they didn't do. Noticed that you ignored that more Democrats than Tea Party members voted for the debt deal and democrats today support that bill more than Republicans. this isn't about destroying the Govt. which liberals are doing but instead cutting spending and being more fiscally responsible.

    I think the American people are getting it as 40% now approve of Obama Job Performance. Most seem to understand that Obama economic policies are a failure and that liberalism in general has failed. Today we got the job numbers and the focus is on the jobs created but NOT on the people that dropped out of the labor force. In July over 1.1 million people dropped out of the labor force because they couldn't find a job. Seems that the majority now understand the lies of this Administration and the only hope is to embrace fiscal responsibility promoted by the Tea Party.
    All the TP is is a bunch of ideologues with little intelligence backing up their actions. They are more about hyperbole and focus on government spending only.. They are also usually social conservatives. Basically they are anti GWB republicans promising to spend less this time, but the problem is, this recession isn't about the GOP or their principles or refinding them. This mess is going to take people working together and being honest in debate. The TP isn't capable of that. The TP is a one trick pony and that trick is to look like they care about deficit, because dem is in office.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Conservative View Post
    Which means it wasn't a payroll tax cut as I cut and pasted. That obviously was wrong but the fact remains it was a rebate check of taxes you already paid and was paid out over time giving the govt. the use of your money. The results speak for themselves but results that you ignore. Withholding rates were reduced and amounted to a very small increase in your take home pay thus the limited results. Once the rebate was gone so was your so called tax cuts.

    Obama: Stimulus tax cuts will be felt by April 1 - USATODAY.com
    Yes, it was a temporary cut. I never said any different. That's why it was in the stimulus bill.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by SheWolf View Post
    All the TP is is a bunch of ideologues with little intelligence backing up their actions. They are more about hyperbole and focus on government spending only.. They are also usually social conservatives. Basically they are anti GWB republicans promising to spend less this time, but the problem is, this recession isn't about the GOP or their principles or refinding them. This mess is going to take people working together and being honest in debate. The TP isn't capable of that. The TP is a one trick pony and that trick is to look like they care about deficit, because dem is in office.
    Compared to the liberal elite and their "supposed" intelligence I will take the TP. Are you telling me that we need 3.7 trillion dollars in spending yearly? Obama has record spending that has generated terrible results yet the answer from liberals is spend more. That make sense to you?

    By the way, this country was built by Tea Party members.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Erod View Post
    Wow, two deep recessions in half a presidential term?

    This president is impressive.
    Hmm, he inherited one from Bush, and that's the only one I know of.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by AdamT View Post
    Yes, it was a temporary cut. I never said any different. That's why it was in the stimulus bill.
    As you look at those tax cuts it it pretty easy to see why they stimulated nothing. Most were funded by expense items in the Federal Budget which in addition to rebates of revenue also created expense debt. The results speak for themselves and yet the liberal attitude today is spend more money. Where are you going to get it? Typical liberal arrogance, spend more! Never cut anything and certainly never focus on creating personal responsibility.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by AdamT View Post
    Hmm, he inherited one from Bush, and that's the only one I know of.
    Did you ever figure out when the GDP downturn begin?

    2001 10286.20
    2002 10642.30
    2003 11142.10
    2004 11867.80
    2005 12638.40
    2006 13398.90
    2007 14077.60
    2008 14441.40
    2009 14256.30

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