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Thread: Obama to propose $1.5 trillion in new tax revenue

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Smokified View Post
    The government has been unable to bring stability to the economy therefore causing businesses to either not grow or fail entirely. This affects the prices of stocks and has much more of an effect on smaller less established investment funds. I am sure that you must be at least remotely aware of how many people have lost 401ks and other invesment accounts throughout this economical disaster caused by our ineffective government.
    So you're saying that it's government's job to create and maintain a sound economy? Was it government that caused the financial meltdown? What do you think that government should do to make it all better?

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by AdamT View Post
    So you're saying that it's government's job to create and maintain a sound economy? Was it government that caused the financial meltdown? What do you think that government should do to make it all better?
    Good point. It wasn't the government that caused the economic meltdown, nor is it the government that should get the credit when the economy is good.

    So, why is it that partisans argue over whether this is the "Obama recession" or the "Bush recession"?
    "The greatest enemy of knowledge is not ignorance. It is the illusion of knowledge" Stephen Hawking

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Dittohead not! View Post
    Good point. It wasn't the government that caused the economic meltdown, nor is it the government that should get the credit when the economy is good.

    So, why is it that partisans argue over whether this is the "Obama recession" or the "Bush recession"?
    Exactly. I keep saying no president or party can control the economy. Being their recession should mean nothing more than it happened during their tenure. And it happened during both's. But neither made it happen or had the power to fix it.

    The debt is a different issue. And both presidents, both parties in congress, and presidents and congresses goiong back for a long time all contributed to the debt.

    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: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    Exactly. I keep saying no president or party can control the economy. Being their recession should mean nothing more than it happened during their tenure. And it happened during both's. But neither made it happen or had the power to fix it.

    The debt is a different issue. And both presidents, both parties in congress, and presidents and congresses goiong back for a long time all contributed to the debt.
    yes, all the way back to that "arch conservative", RR.

    Of course the Republicans blamed the Democrat controlled Congress for the deficit at that time. I wondered what would happen when we had a Republican president and a Republican Congress, and still had a big deficit. When we elected Bush II and his Republican Congress, I found out: It was still the fault of "liberals."
    "The greatest enemy of knowledge is not ignorance. It is the illusion of knowledge" Stephen Hawking

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    Exactly. I keep saying no president or party can control the economy. Being their recession should mean nothing more than it happened during their tenure. And it happened during both's. But neither made it happen or had the power to fix it.

    The debt is a different issue. And both presidents, both parties in congress, and presidents and congresses goiong back for a long time all contributed to the debt.

    Control? No. Provide the stability for an economy to prosper? Absolutely! Please explain how anything Obama has done, promotes that...

    J-mac
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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by j-mac View Post
    Control? No. Provide the stability for an economy to prosper? Absolutely! Please explain how anything Obama has done, promotes that...

    J-mac
    Again, that would require government involvement, government control, socialism. A completely free market has little to nothing from the government. You really are arguing that government is the answer.

    But, I'll give you the benefit of the doubt, show what lack of government action provides stability.



    BTW, regulations that prevent disasters does promote stabilty. Not having a huge oil spill is much more stable than having one, for example. Not allowing predatory lenders to fleece the public crerates much more stability, for example. Slowing down the bleeding and keeping some jobs longer is more stable than simply letting everything crash, for example.

    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: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Boo Radley View Post
    Again, that would require government involvement, government control, socialism. A completely free market has little to nothing from the government. You really are arguing that government is the answer.

    But, I'll give you the benefit of the doubt, show what lack of government action provides stability.



    BTW, regulations that prevent disasters does promote stabilty. Not having a huge oil spill is much more stable than having one, for example. Not allowing predatory lenders to fleece the public crerates much more stability, for example. Slowing down the bleeding and keeping some jobs longer is more stable than simply letting everything crash, for example.
    My sense is a lot of people feel we do need some level of regulation. However there is a reasonable balance between too much and not enough.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by Dittohead not! View Post
    Good point. It wasn't the government that caused the economic meltdown, nor is it the government that should get the credit when the economy is good.

    So, why is it that partisans argue over whether this is the "Obama recession" or the "Bush recession"?
    I agree that partisans on both sides credit the government with too much power to influence the economy. That said, the government does have a *some* ability to push the economy in one direction or another and it is a problem if the government is pushing it in the wrong direction at the wrong time. A loose money supply, deregulation, and tax cuts contributed to the real estate bubble and subsequent meltdown. That was government pushing in the wrong direction at the wrong time. Obama's administration is pushing in the right direction (stimulus), but they've only pushed the boulder hard enough slow the it's momentum. It was a significant effort when a gargantuan effort was required.

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    Re: Obama to propose $1.5 trillion in new tax revenue

    What's next? Shoot everyone over 60? Probably, because then he could save even more, and don't bother burrying them, too costly...lets just shoot them and then burn them. After all, we wouldn't want him and his family to miss a vacation because we are broke!

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    Re: Obama to propose $1.5 trillion in new tax revenue

    Quote Originally Posted by AdamT View Post
    I agree that partisans on both sides credit the government with too much power to influence the economy. That said, the government does have a *some* ability to push the economy in one direction or another and it is a problem if the government is pushing it in the wrong direction at the wrong time. A loose money supply, deregulation, and tax cuts contributed to the real estate bubble and subsequent meltdown. That was government pushing in the wrong direction at the wrong time. Obama's administration is pushing in the right direction (stimulus), but they've only pushed the boulder hard enough slow the it's momentum. It was a significant effort when a gargantuan effort was required.
    but, how much debt would that gargantuan effort generate? The feds already owe more than the entire annual GDP.
    "The greatest enemy of knowledge is not ignorance. It is the illusion of knowledge" Stephen Hawking

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