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

  1. #441
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    Re: United States loses its AAA Credit rating from S & P

    I was remembering how many times on this site that I have heard "No new taxes until the government can prove it can stop spending."

    As I was reflecting on this another though occurred to me. If cutting taxes creates jobs, then reinstate the tax and instead offer a tax incentive to those who actually create jobs. Not the Madghiqual Math that so often comes from the Hill, but real additional jobs. Adding 1200 jobs while sending 1200 overseas wouldn't qualify. Net gain is what I am talking about here.

    A nice level playing field.

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

    Quote Originally Posted by The Barbarian View Post
    In no way shape or form, if tax revenue was needed so drastically, then why was the Bush tax cuts extended past 2010? It was a democrat controlled house and senate, that sent the bill to a democrat sitting in the white house to sign to extend those tax cuts that were due to expire, and Obama signed that bill.

    Now 7 months later, you sit there and try to blame republicans for refusing to raise taxes? Nice try, but your bull sh*t ... is just that.
    That logic doesn't work. Politics played more of a role than doing what was right. Anyone thinking clearly would have to agree the best approach is to cut spending and raise taxes. But, as noted above, when the belief in tax cuts becomes like a religion, faith meaning more than actual evidence, politicians tend to appease the beast. It's wrong, for both parties, but that is what happened and not a sign of what proper to do concerning revenue.

    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.

  3. #443
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Thunder View Post
    cults tend to believe in extremism and refuse to compromise on their beliefs (increased tax-rates for the rich or simply closing tax-loopholes). they vehemently attack members who dare to stray from their extremist views (RINOs).

    so who exactly is the cult?
    What kind of compromise is that when you punish one group of people or class? You want revenue, 70 million Income earners are paying zero in Federal Income taxes. Are they paying their fair share?

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

    Quote Originally Posted by Conservative View Post
    What kind of compromise is that when you punish one group of people or class? You want revenue, 70 million Income earners are paying zero in Federal Income taxes. Are they paying their fair share?
    Such hyperbole. No one is being punished, least of all the wealthy.

    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 Tettsuo View Post
    So you agree that since the Republicans have controlled congress during this year they are responsible for the AA+ rating we've received?

    We just had an economic collapse on a global scale. I don't expect any president to fix it in one term or even 2. This will take at least a decade or more to fully recover from.
    Republicans controlled Congress? Wow, did you ever take a civics class? I expect the President to keep his promises and he hasn't. Not one of his economic predictions has come true.

    Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!

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

    Quote Originally Posted by Conservative View Post
    What kind of compromise is that when you punish one group of people or class? You want revenue, 70 million Income earners are paying zero in Federal Income taxes. Are they paying their fair share?
    closing tax-loopholes that allow people to not pay taxes that they should be paying, is a punishment?

    looks more like they are getting away with fraud and we need to stop them.

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

    Quote Originally Posted by AdamT View Post
    Reagan, or at least his economic team, was smart enough to realize that he went too far cutting taxes, which is why he subsequently raised taxes almost 10 times. Now the refusal to raise taxes has become a religion rather than an economic issue.
    So how much more are you sending into the govt. since you have a problem keeping more of what you earn? How is your income an expense to the govt?

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

    Quote Originally Posted by Thunder View Post
    closing tax-loopholes that allow people to not pay taxes that they should be paying, is a punishment?

    looks more like they are getting away with fraud and we need to stop them.
    You believe we have a revenue problem so are you sending in more than required from your paycheck? There are tens of millions of Americans making income that pay zero in FIT. Are they paying their fair share?

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

    Quote Originally Posted by Conservative View Post
    You believe we have a revenue problem so are you sending in more than required from your paycheck? There are tens of millions of Americans making income that pay zero in FIT. Are they paying their fair share?
    Not what he said.

    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
    You believe we have a revenue problem so are you sending in more than required from your paycheck? There are tens of millions of Americans making income that pay zero in FIT. Are they paying their fair share?
    everyone who is above the poverty line should pay some income taxes, IMHO.

    and anyone who gets away with not paying FIT that they should be paying due to tax-loopholes, should be required to pay such taxes.

    no free rides...especially for folks who don't need them.

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