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Thread: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

  1. #371
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    Quote Originally Posted by Catawba View Post
    It won't if we cut it, that's my point.
    DoD expenditures should decrease significantly in times of peace compared to times of war. But this difference does not result in cash in the pocket we can then use to employ people for the sake of employing them. In other words, cutting an expenditure or department is not a pay-for, because of how deeply we're already deficit
    spending.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Neomalthusian View Post
    DoD expenditures should decrease significantly in times of peace compared to times of war. But this difference does not result in cash in the pocket we can then use to employ people for the sake of employing them. In other words, cutting an expenditure or department is not a pay-for, because of how deeply we're already deficit
    spending.

    Less wasteful spending together with increased revenues is what will be required to reduce our debt.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  3. #373
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Catawba View Post
    Less wasteful spending together with increased revenues is what will be required to reduce our debt.
    I think we'll have to wait a few quarters before increase in revenues (by means of taxing) can be realized. Maybe even after the election - assuming he does get reelected. If we were to continuing following Keynesian economics, right now would be the wrong time to raise taxes, though it would be a good time to cut frivolous spending and invest that extra money into stimuli for the economy. Then, after stabilization, taxes and spending cuts can go into place. Right now, it appears Obama is doing the right thing as far as the economy goes, though some would and have argued that he hasn't spent enough.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Neomalthusian View Post
    We already budgeted $1.6 trillion above what we can afford this year, which ended up giving lots of people government jobs to do. You nonetheless want to "put people to work." Doing what?
    We have lots of roads, bridges, schools, water and wastewater systems that need to be upgraded. I prefer paying people to work then giving them welfare until there is enough consumer demand again for increased production by the private market. The Democrats have put up a jobs plan that does not increase our debt.


    So you mean government jobs then. That's what I figured, just making sure.
    Government jobs are better than no jobs, which will create more consumers which create more demand for private market production.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by whysoserious View Post
    I think we'll have to wait a few quarters before increase in revenues (by means of taxing) can be realized. Maybe even after the election - assuming he does get reelected. If we were to continuing following Keynesian economics, right now would be the wrong time to raise taxes, though it would be a good time to cut frivolous spending and invest that extra money into stimuli for the economy. Then, after stabilization, taxes and spending cuts can go into place. Right now, it appears Obama is doing the right thing as far as the economy goes, though some would and have argued that he hasn't spent enough.
    Good points. I was outlining what our 30 year plan needs to be. I would disagree however that increasing the taxes a few percentage points on the most wealthy would hurt us now. I don't know how we can not afford to eliminate right away the tax breaks for companies that outsource US jobs.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Free For All View Post
    So the rich are to blame for the government's irresponsible spending?
    Their tax cuts generated debt?
    That doesn't make sense.
    When those tax cuts are paired with starting two wars, yes - they did generate debt.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Neomalthusian View Post
    You didn't answer. It was a yes/no question, not a request for wikipedia regurgitation.
    Oh you wanted a yes or no answer to a meaningless question?

    What does it matter whether Bush came up with the subprime scheme? It was his lack of leadership and lame policies that exacerbated the crisis.

    From his earliest days in office, Bush paired his belief that Americans do best when they own their own homes with his conviction that markets do best when left alone. Bush pushed hard to expand home ownership, especially among minority groups, an initiative that dovetailed with both his ambition to expand Republican appeal and the business interests of some of his biggest donors. But his housing policies and hands-off approach to regulation encouraged lax lending standards.
    Bush did foresee the danger posed by Fannie Mae and Freddie Mac, the government-sponsored mortgage finance giants. The president spent years pushing a recalcitrant Congress to toughen regulation of the companies, but was unwilling to compromise when his former Treasury secretary wanted to cut a deal. And the regulator Bush chose to oversee them - an old school buddy - pronounced the companies sound even as they headed toward insolvency.

    Bush drive for home ownership fueled housing bubble - The New York Times



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by whysoserious View Post
    I think we'll have to wait a few quarters before increase in revenues (by means of taxing) can be realized. Maybe even after the election - assuming he does get reelected. If we were to continuing following Keynesian economics, right now would be the wrong time to raise taxes, though it would be a good time to cut frivolous spending and invest that extra money into stimuli for the economy. Then, after stabilization, taxes and spending cuts can go into place. Right now, it appears Obama is doing the right thing as far as the economy goes, though some would and have argued that he hasn't spent enough.
    I think we're about to see a major shake-up with this Super Debt Committee (SDC). More and more Republicans are starting to question the validity of the Norquist anti-tax pledge. Many are saying they only signed the pledge once years ago and did NOT intend for their 1-time committment to be a "lifetime committment". Already, we've seen a willingness on the part of Republicans on the Super Debt Committee to put some tax revenue on the table and atleast one Democrat is giving Republicans credit for their effort. Mind you, their revenue raisers all stem from the elimination of some tax subsidies, but the amount proposed falls way short of what the President has requested to fund his jobs bill. Still, the lack of real effort mostly on the part of Republicans to find a balanced approach to long-term deficit reduction with short-term investments in infrastructer projects, etc., is starting to have a negative impact on Republicans already viewed by most Americans as a party more willing to protect millionaires and billionaires in upholding their anti-tax pledge over upholding their primary duty - to uphold the Constitution and do what is right for the sake of the nation. This article from the Hill.com puts the "protect the wealthy" perception by Republicans in perspective.

    Now, granted if the Super Debt Committee fails, there's liable to be backlash across the board for everyone involved - the committee, Republicans, Democrats and quite possibly the President himself. If one side of the political divide shows less willingness to put elements of their party ideology on the table (i.e., Dems with entitlement programs, Reps with tax increases or enough revenue to pay for the President's jobs plan), said party may never recover from the failed negotiations. Moreover, if the debt triggers do go into effect and the $1.5 trillion across the board spending cuts take place as Rep. Hensarling mentioned on the Sunday talkshow circuit, it could really spell disaster for the Republican party.

    The country has already had its credit rating lowered once. If the SDC fails to reach a meaningful agreement on deficit reduction that also allows for paying for initiatives to spur job growth, I fear this country will face another credit downgrade and the austerity measures we're seeing play out in Greece and Italy will happen right here. And if you thought scenes from some of the Occupy protests happening across the country are bad now...
    Last edited by Objective Voice; 11-14-11 at 02:11 PM.

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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by mertex View Post
    It's confounding - Faux New's millionaires feed this crap to their viewers, tell them that Libs (who just happen to be the richest in America) are envious of the rich (themselves) and the mentally deficient buy it hook, line and sinker. They repeat the asinine statements they have been led to believe and think that the rest of us are going to believe it too, too funny!

    I'll tell you what is truly confounding, and that is that someone can come in here and tag themselves a "moderate", and proceed to regurgitate the most vile, insulting, and ill informed crap they can spew and not one person has a honest moment to say to themselves that maybe, just maybe they should start telling the truth, and start with their own lean.

    This post is reprehensible.

    j-mac
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    Re: ABC's "20/20 - Lessons from Billionaires: Tax ME to create jobs IN AMERICA!"

    Quote Originally Posted by Catawba View Post
    Less wasteful spending together with increased revenues is what will be required to reduce our debt.
    Because of the lack of action early on this road to ruin, I am actually beginning to agree somewhat with this. However, because of past dishonesty in matter such as this meme, I would say that at this time, before one damned red cent is raised in taxes, the spending cuts have to come first and be verified as in place.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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