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Thread: Obama to business owners: "You didn't build that." [W:417]

  1. #1321
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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by Romulus View Post
    John Maynard Keynes, The General Theory of Employment, Interest, and Money (Amherst, NY: Prometheus Books, 1997) 249-59.

    But we don't really disagree on this do we?



    Although you're correct about the resurgence of Keynes, the reanimation of his failed economics caused the dot com and housing bubbles. You are incorrect about the Keynesian model predicting stagflation.



    The question is how their homes became overpriced in the first place. Warping price signals by keeping interest rates artificially low and stimulating demand via quasi-government institutions like Fannie and Freddie is classic Keynesian economics and it failed, causing the current slump. What would Keynes do now?

    The right remedy for the trade cycle is not to be found in aboloshing booms and thus keeping us permanently in a semi-slump; but in abolishing slumps and thus keeping us in a quasi-boom.--Keynes, The General Theory, 322.

    Which is exactly what Bush/Obama/Bernanke/Greenspan have attempted to do, keep the bubble inflated. Deflation, at least in housing--is the only remedy. Propping up banks or propping up mortgages that aren't affordable to the owner, only perpetuates the next crash. Commodity inflation is at 11.5%--caused by QE cycles, monetizing the debt, subsidies to agriculture, plus ridiculous environmental and energy policies. Wouldn't it be nice for the poor and middle-class to see some deflation?
    Bam. That's the sound of the hammer hitting the nail on the head.

    These people who are clamoring for more government spending are crazy. Keynes himself would not be calling for more QE, or stimulus, after the central government had already pumped over $1Trillion into the economy.

    You may disagree, but Rush Limbaugh has it right when it comes to Obama's stimulus. The reason it didn't work is because a HUGE chunk of the stimulus didn't go to stimulate anything. It's a slushfund for his political cronies. Unions primarily. Green companies run a close second. Companies like Solyndra, where stimulus money was given to them through Grants and contracts, and they ended up going bankrupt, and when asked where the money went, the Solyndra execs couldn't say where it went!!!!

    You think for one second that Keynes supported the philosophy of setting up massive slush funds for political opponents? NO. Which is why I say that even the liberals of today would get a tongue lashing from Keynes himself. Liberals today seem content on maintaining the status quo of a government that wastes more money than it utilizes for the betterment of an economy. Get em out I say. Let someone with at least half a brain get in there and get something meaningful done.

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    Re: Obama to business owners: "You didn't build that."

    That = bridge.

    Bridge = that.

    That is all ye need to know.

  3. #1323
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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by hazlnut View Post
    That = bridge.

    Bridge = that.

    That is all ye need to know.
    Taxpayers aka the successful = paid for that bridge, road, etc.

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by Fishstyx View Post
    Taxpayers aka the successful = paid for that bridge, road, etc.
    Yes, taxpayers did, which covers just about everyone. Next to no one pays no tax.

    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 business owners: "You didn't build that."

    Quote Originally Posted by Boo Radley View Post
    Yes, taxpayers did, which covers just about everyone. Next to no one pays no tax.
    Next to no one. We're talking about federal income tax. And that is about 45% that don't pay any federal income tax.
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by Born Free View Post
    Next to no one. We're talking about federal income tax. And that is about 45% that don't pay any federal income tax.
    Why limit? Don't gas taxes pay for roads? Don't other types of taxes also contibute to the general welfare?

    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 business owners: "You didn't build that."

    Hussein Obama has said a lot of dumb things when he did not have a teleprompter in front of him but this one has to be the dumbest of all.....
    "God Bless Our Troops in Harms Way."

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by Navy Pride View Post
    Hussein Obama has said a lot of dumb things when he did not have a teleprompter in front of him but this one has to be the dumbest of all.....
    Do you have a teleprompter?

    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 business owners: "You didn't build that."

    Quote Originally Posted by Boo Radley View Post
    Yes, taxpayers did, which covers just about everyone. Next to no one pays no tax.
    Not really. We have a progressive tax structure. Those who are more successful pay more...right?

    And actually, there are quite a few people that not only pay nothing in federal income tax but actually get back more than what was withheld.

    But roads and such, everyone pays for them including those successful business owner that the president insulted with this "it always makes me laugh" bit about being so smart and hardworking. End of the day, thats the core of a business, what it owner did to make it successful.

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    Re: Obama to business owners: "You didn't build that."

    Quote Originally Posted by Fishstyx View Post
    Not really. We have a progressive tax structure. Those who are more successful pay more...right?

    And actually, there are quite a few people that not only pay nothing in federal income tax but actually get back more than what was withheld.

    But roads and such, everyone pays for them including those successful business owner that the president insulted with this "it always makes me laugh" bit about being so smart and hardworking. End of the day, thats the core of a business, what it owner did to make it successful.
    More? Sure. Not all. From gas tax to other federal and local taxes, we all pay part of the load. And frankly those with less likely feel it more than those with more. I hardly notice my taxes, and wouldn't notice a small increase at all.

    And there was no insult. I realize Romney needs a miricle and lying may well be all he has. But it is lying to try and make this more than it was.

    And I've been around a lot of success, and not one did it on their own totally. Most know this. It is so clear, that many consider it Obama's captian obvious moment. But there was no insult in it.

    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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