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

  1. #211
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by AdamT View Post
    So we had a straw man argument and now we have a slippery slope argument. Can ad hominem be far behind?
    How about a factual argument: Obama believes in social justice and wealth redistribution.

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

    Quote Originally Posted by Sheik Yerbuti View Post
    Yeah, those tax rates during the Clinton administration sure did crush the economy.
    You are thinking short term. The bankers are not. They know that there is too much opposition to the left's plan to raise taxes on us up to ridiculous levels. Back to Clinton era levels, we might be able to get there, but that won't be nearly enough. Plus, the Clinton era taxes were higher across the board, not just on the higher levels. No way in hell, are we going to be able to finance the coming deficits with taxes on the "rich" alone.

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

    Quote Originally Posted by apdst View Post
    How about a factual argument: Obama believes in social justice and wealth redistribution.
    Of course he does. So has every president we've ever had. We have always had a progressive tax system, i.e., wealth redistribution.

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

    Quote Originally Posted by RStringfield View Post
    You are thinking short term. The bankers are not. They know that there is too much opposition to the left's plan to raise taxes on us up to ridiculous levels. Back to Clinton era levels, we might be able to get there, but that won't be nearly enough. Plus, the Clinton era taxes were higher across the board, not just on the higher levels. No way in hell, are we going to be able to finance the coming deficits with taxes on the "rich" alone.
    That is just factually inaccurate. Raising taxes to Clinton-era levels would halt the growth of the deficit in its tracks, relative to GDP. Add responsible spending cuts and we can start reducing the debt as a percentage of GDP to sustainable levels.

    What you cannot do is fix the problem with spending cuts alone.

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

    Quote Originally Posted by AdamT View Post
    The bankers just pointed out what we knew already: one of our political parties -- the one that starts with an R -- is completely fixated on thumbing its nose at the President and could not care less if it harms the country in the process.

    No one is suggesting that we raise taxes to "crushing levels". That is a straw man argument. The blindingly obvious solution to our problem is to add short-term stimulus and do significant cutting and modest tax increases in the mid/long term. Eliminating the Bush tax cuts, i.e., going back the Clinton rates that allowed the economy to flourish, would stop the growth of the debt in and of itself.
    It's not a strawman because I did not attribute the argument to you or anyone (at least not currently, it would be the argument in the long term from the left as they would refuse to admit failure when Clinton era levels proved to not be enough).

    Clinton era rates on the "rich" are not going to be able to finance the looming deficits in SS and Medicare. You are delusional, uninformed or lying if you suggest it will.

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

    It's all part of the plan in disaster capitalism. You can almost bet on another false flag event this fall. My money is on Israel and Iran. Whatever it is it will happen in the next few months and as a result there will be new restrictions on Americans: fuel consumption limits (likely imposed by higher taxes), ATM transactions; further budget raids of the People's money (more social solutions to private debt) and so forth. All this will be for "the public good as we fight (the newest manufactured enemy) to preserve our freedoms and our American way of life." <hit the puke button hard here>

    It's over people. Some of us know it. None of us want it, unless you are, of course, fabulously wealthy. Everyone else is a pawn or soon will be.










    "When Faith preaches Hate, Blessed are the Doubters." - Amin Maalouf

    When trouble arises and things look bad, there is always one individual who perceives a solution and is willing to take command. Very often, that person is crazy. ~Dave Barry



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

    Quote Originally Posted by AdamT View Post
    That is just factually inaccurate. Raising taxes to Clinton-era levels would halt the growth of the deficit in its tracks, relative to GDP. Add responsible spending cuts and we can start reducing the debt as a percentage of GDP to sustainable levels.

    What you cannot do is fix the problem with spending cuts alone.
    LOL. Okay, whatever you say. The short term appeal of the ostrich approach is going to dramatically decline relatively soon.

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

    Quote Originally Posted by AdamT View Post

    That is just factually inaccurate. Raising taxes to Clinton-era levels would halt the growth of the deficit in its tracks, relative to GDP. Add responsible spending cuts and we can start reducing the debt as a percentage of GDP to sustainable levels.

    What you cannot do is fix the problem with spending cuts alone.
    The Republican party of "No" got what they wanted. They damaged Obama. It doesn't matter to them that they also hurt the country, but then party over country has always been the Republican meme.

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

    Quote Originally Posted by Mr. Invisible View Post
    That is actually completely false. The Dems were willing to compromise. The Republicans said our way or the highway, thus turning the debt ceiling deal into a major issue, when in reality it shouldn't have been.
    You can spin it anyway you want to but BOTH parties AGREED and SIGNED the BILL. Again... it took TWO to tango.
    Catch me if you can.

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

    Quote Originally Posted by Sheik Yerbuti View Post
    The Republican party of "No" got what they wanted. They damaged Obama. It doesn't matter to them that they also hurt the country, but then party over country has always been the Republican meme.
    Obama has been damaging his own self, since January of 2009.

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