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Thread: Canadians Now Richer Than Americans

  1. #41
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    Re: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by James Cessna View Post
    No, you are mistaken.

    Here is why the banks failed.


    Democrats were WARNED of Financial crisis in 2003 and 2005 and did NOTHING

    the video isnt off but its missing many holes.

    first off republicans tried to regulate fannie and freddie(mandated to issue subprime loans under the 95 revision of the cra)in 01,before bush even called for it.the problem stems backs to clinton,under 95 the democrats had pushed for and made happen the revision of the comunity reinvestment act,which made it law for fannie and freddie to issue and buy subprime loans since they were a gse.in 99 sen gramm tried to repeal the glass steagall regs,the repeal was set for filibuster by the democrats,however the democrats caved in under the condition that the repeal would also include loosening regs even further on the housing market and subprime loans to guarantee their support.

    in 2000 sen gramm also slips some more deregulation for the financial sector into bill clintons last signed budget,or the first budget used under bush.the problem was expanded by bush trying to expand coverage of the cra even further,even though accounting problems that caused the housing market to crash were evident in 97.bush tried to expand it and also increase regulation.

    the problem arose when republicans tried to regulate it,even before bush called for it.each time the bill never made it to a vote because there wasnt a single democrat to support it,meaning it would be filibustered and blocked from vote(kinda the same thing dsemocrats accuse repubs of doing now)so it never made it.the bill failed in 01 and 03,and was re introduced in 05,where it stood stale due to the fact it wouldnt pass a democrat filibuster.john mcain didnt co sponsor the bill until 06,after he had already planned to run for president.

    the bill was re introduced in 07,but didnt pass until 08,when it was far too late to stop the bleeding.afterwards in 08 the democrats still defended the cra,most specifically harry reid and barny frank and nacy peloci,who all claimed forcing the big two to buy subprime loans didnt cause them to fail,only a republican mismanagement of the program,yet it was showing signs of failure in 97,a whole decade before.


    now the housing problem combined with the repeal of glass steagall,led to a horrible collapse.and yes barrack obama was the lead lawyer pushing for and enforcing the cra's expansion to destructive levels.but then again when bush said it should have strict regulations,he should have stopped pushing it.

    when clinton heard of the accounting fraud and the problems in 07,he should have regulated or reversed the 95 expansion,rather than looking the other way at impending recession.
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

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    Re: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by Your Star View Post
    3? I'm thinking more along the lines of 4 or 5.
    Sure, or 9 or 10, there still has to be more than a few people that buy into their platform.
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    Re: Canadians Now Richer Than Americans

    Quote Originally Posted by cpwill View Post
    Also worth noting is that Canada scores higher than we do on the economic freedom index, and has been slashing their corporate income tax down to less than half of ours.




    Gosh, I wonder how they got better than they used to be.
    Hey, they didn't do that, someone else made that happen.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Canadians Now Richer Than Americans

    Quote Originally Posted by Hatuey View Post
    The average salary in Canada is $46K. The average house in Canada ranges from 150K in Fredericton, NB to $700K in Vancouver. I've been to NB. Fredericton is in butt**** nowhere and there are few things out there outside of drinking and going to university.
    It may be that we share the same feelings about Mexico, the culture there, the people, the climate. New Brunswick, Canada I haven't been to. I like much of Canada, but in a lot of Canada there ain't nobody there. Can you get good Mexican food in Fredericton?
    Last edited by Risky Thicket; 07-18-12 at 10:25 PM.

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    Re: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by James Cessna View Post
    This is indeed Obama's fault.

    Liberals forget how much of a fiscal conservative GWB was.

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    Re: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by johnny_rebson View Post
    Liberals forget how much of a fiscal conservative GWB was.
    gwb was keynesian not fiscal conservative,look up military keynesian politics and compare it to gwb and obamas politics.
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    Re: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by johnny_rebson View Post
    Liberals forget how much of a fiscal conservative GWB was.
    We must have been confused by his doubling of military spending to equal almost as much as the rest of the world combined and his never vetoing a spending bill, two simultaneous optional wars while giving the rich even bigger tax cuts.
    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: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by Catawba View Post
    We must have been confused by his doubling of military spending to equal almost as much as the rest of the world combined and his never vetoing a spending bill, two simultaneous optional wars while giving the rich even bigger tax cuts.
    giving the rich tax cuts isnt opposed by fiscal conservatism or keynesian economics,even though keynesians frown upon it its not against any policies.


    plus lets not forget the bush tax cut was 85% towards middle class and poor

    ABUSHTAXCUTS_g1_full_600.jpg

    even cbo's horrible failure to account for variables shows bush tax cuts went mostly towards middle class and poor,not rich.
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

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    Re: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by beerftw View Post
    giving the rich tax cuts isnt opposed by fiscal conservatism or keynesian economics,even though keynesians frown upon it its not against any policies.
    "The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory." He wrote, "Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: 'If you feed the horse enough oats, some will pass through to the road for the sparrows.'" Galbraith claimed that the horse and sparrow theory was partly to blame for the Panic of 1896.[15] In 1896, Democratic Presidential candidate William Jennings Bryan made reference to trickle-down theory in his famous "Cross of Gold" speech:

    There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.[16]
    Proponents of Keynesian economics and related theories often criticize tax rate cuts for the wealthy as being "trickle down," arguing tax cuts directly targeting those with less income would be more economically stimulative. Keynesians generally argue for broad fiscal policies that are directed across the entire economy, not toward one specific group."
    Trickle-down economics - Wikipedia, the free encyclopedia


    plus lets not forget the bush tax cut was 85% towards middle class and poor
    To believe that tax rates were not cut more for the rich, you would have to ignore:

    "the reduction of tax rates on capital gains, corporate income, and higher individual incomes, along with the reduction or elimination of various excise taxes. David Stockman, who as Reagan's budget director championed these cuts at first but then became skeptical of them, told journalist William Greider that the term "supply-side economics" was used to promote a trickle-down idea."
    Trickle-down economics - Wikipedia, the free encyclopedia
    Last edited by Catawba; 07-18-12 at 11:22 PM.
    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: For the First Time, Canadians Now Richer Than Americans. Thanks, Obama!

    Quote Originally Posted by Catawba View Post
    "The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory." He wrote, "Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: 'If you feed the horse enough oats, some will pass through to the road for the sparrows.'" Galbraith claimed that the horse and sparrow theory was partly to blame for the Panic of 1896.[15] In 1896, Democratic Presidential candidate William Jennings Bryan made reference to trickle-down theory in his famous "Cross of Gold" speech:

    There are two ideas of government. There are those who believe that if you just legislate to make the well-to-do prosperous, that their prosperity will leak through on those below. The Democratic idea has been that if you legislate to make the masses prosperous their prosperity will find its way up and through every class that rests upon it.[16]
    Proponents of Keynesian economics and related theories often criticize tax rate cuts for the wealthy as being "trickle down," arguing tax cuts directly targeting those with less income would be more economically stimulative. Keynesians generally argue for broad fiscal policies that are directed across the entire economy, not toward one specific group."
    Trickle-down economics - Wikipedia, the free encyclopedia



    by your own claim saying any tax cut forthe rich means trickle down economics not keynesian economics,which leads me to believe you dont know the difference between the two or whats interchangeable between the two.

    To believe that tax rates were not cut more for the rich, you would have to ignore:

    "the reduction of tax rates on capital gains, corporate income, and higher individual incomes, along with the reduction or elimination of various excise taxes. David Stockman, who as Reagan's budget director championed these cuts at first but then became skeptical of them, told journalist William Greider that the term "supply-side economics" was used to promote a trickle-down idea."
    Trickle-down economics - Wikipedia, the free encyclopedia

    wow no dispute of my claim at all.

    read keynes theary,not butchered versions by wannabe economists theories.keynes called taxe cuts for the rich politically motivated.but in no way made keynesian economics invalid.

    and the part where it says keynesians believe targeting those with less income favors more for tax cuts,explain 85% of the bush tax cuts going to poor and middle class,you cant.

    your democrat masters have already told you the snarl words to use and you have failed to verify if they are even true,you just blindly believe their words and skewed statistics.
    Last edited by beerftw; 07-18-12 at 11:47 PM.
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

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