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Thread: United States loses its AAA Credit rating from S & P

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    Re: United States loses its AAA Credit rating from S & P

    How did the S&P rate the toxic investments that caused the 2008 financial meltdown and the debt situation we are in today? If the toxic investments were rated AAA, answers are in order. Right?
    James - 100% love this country but things could be better.
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by sangha View Post
    Says the guy posting on the govt created internet with his computer technology initially developed by the govt
    There is no point having any discussion with you. You are a statist. Statists cannot be reasoned with. Statists must be defeated.
    Last edited by Misterveritis; 08-18-11 at 08:56 PM.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by retirein10years View Post
    How did the S&P rate the toxic investments that caused the 2008 financial meltdown and the debt situation we are in today? If the toxic investments were rated AAA, answers are in order. Right?
    Exactly however the question should be asked why question that today and not in 2009. We certainly know that liberals aren't vindictive.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Exactly however the question should be asked why question that today and not in 2009. We certainly know that liberals aren't vindictive.
    Right, only liberals are vindictive. Well, at least we know you're nto partisan.

    Anyhow, should they be held accountable if they've done wrong?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Nice spin, income taxes were to fund the govt. and to get people to pay for the services provided by that govt. Right now 47% are earning income and not paying for those services. That in the liberal world is what you call fair? Still waiting for what that fair share is for the upper income since paying 38% of all income taxes isn't it but zero for millions is?
    Tax burden is tax burden.... splitting hairs on the source and use is an academic exercise irrelevant to most tax payers. The "spin" is to continue this misguided notion that somehow a large percentage of the population pay no tax. Moreover, its a "spin" you often partake in yourself as you keep relying on payroll taxes each time you try to tell us that revenues went up after tax cuts. In particular, after the so-called Bush tax cuts, tax revenue did increase, as you often point out, but ONLY because payroll tax receipt increases covered up for decreases in income tax receipts. Sorry, but your party continues to co-mingle these taxes (including using payroll taxes to cover-up/pay for income tax decreases) as it happened early last decade.

    Also, has it has been pointed out to you, its nice to speak about non-taxed income, but the design of income taxation is to go after discretionary income, not total income. This is why we have personal exemptions, child credits and standardized deductions. The fact of the matter is that 50% of our population (and increasing) lives hand to mouth, without discretionary income. All in, the wealthiest in the country are not paying their fair share.... their taxes are falling and their wealth increasing.
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by upsideguy View Post
    The fact of the matter is that 50% of our population (and increasing) lives hand to mouth, without discretionary income. All in, the wealthiest in the country are not paying their fair share.... their taxes are falling and their wealth increasing.
    Thank you for pointing this out, as it is mostly ignored. The widing gap between the have and the have nots is what caused this growth in numbers. And now we have the wealthy and their, what, supporters complaining, bemouning those who fall on the poorer side of the gap.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: United States loses its AAA Credit rating from S & P

    ...and the facts behind the graph: tables from the actual budget. I draw your attention to table 2.1, which shows tax receipts by source..... note that income tax receipts (personal and corporate) dropped 20% between 2000 and 2005, though payroll tax receipts climbed year over year.

    http://www.gpoaccess.gov/usbudget/fy10/pdf/hist.pdf

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    The problem for liberals is that the tax rate cuts saw an increase in revenue after fully implemented and liberals cannot explain it. Liberals always ignore human behavior and the benefit to the taxpayer and the economy from those tax cuts. I see no valid point in discussing lost revenue that didn't happen.
    I think this has been well explained to you. I'm not sure why I bother to restate as you are so busy robo-posting the same old tired stuff I doubt you have would take the time to ponder it, but to to be succinct: Your wrong!

    Income tax receipts did drop by almost 20% after the tax cuts of last decade (see table 2.1 per the link below). The receipts increased because payroll tax receipts increase year over year due to an increasing work force and the cap raising each year. In fact, this is such a predictable increase that payroll tax receipts even increased 2009 over 2008 as the general economy collapsed and income tax receipts were in free fall.

    http://www.gpoaccess.gov/usbudget/fy10/pdf/hist.pdf
    Last edited by upsideguy; 08-19-11 at 03:38 AM.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Boo Radley View Post
    Right, only liberals are vindictive. Well, at least we know you're nto partisan.

    Anyhow, should they be held accountable if they've done wrong?

    When do liberals, and Obama ever get held accountable....That is a nice word isn't it, but only when you are speaking of the other guy.....


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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by j-mac View Post
    When do liberals, and Obama ever get held accountable....That is a nice word isn't it, but only when you are speaking of the other guy.....


    j-mac
    Well according to you, at least by some of your rhetoric, you make it out like liberals and Obama are dictators, telling you what to do and no one can stop them and they'll never be held accountable.

    But then you praise november 2010 as the greatest thing since you first discovered masterbation.

    So tell me, if Obama has truly pissed off the entire nation, do you not feel he'll be held accountable by the ballot box next year?

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