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Thread: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by iguanaman View Post
    Revenue is at 15% of GDP and spending is at 24%. We need to meet near the middle and a first step is ending those cuts for those who don't need them.
    But we know that spending will just increase under this President. There is no intent to cut anything and there only will be more "stimulus" spending under this president with further crony capitalism. That's what this is all about. And because of a compliant media it's become almost impossible to follow the money trail anymore.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Grant View Post
    That's your source??

    It's an opinion piece!

    Here's another more realistic source.

    Bill Whittle Benighted Comment
    It's an "opinion" by David Stockton, Reagans Budget Director and coauthor of the Reagan tax cuts and trickle down economics. He was the "brains" behind your hero and now you don't like him? How fickle can you get and who the hell is Bill Whittle?

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Catawba View Post
    Neither party is very much concerned with the National debt, or they would not have voted last week for $650 billion in military spending.

    The major difference in the parties is that one wants to walk away from the $2.6 trillion dollars owed to SS by keeping the tax cuts for the wealthy, and the other party believes we have an obligation to repay our debts.
    What are they going to pay SS with? Will they borrow more? Tax more? Print more money?

    My bet is on the last alternative and eventually greater inflation. We have already seen the signs in fact.
    Last edited by Grant; 12-10-12 at 01:45 AM.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by iguanaman View Post
    t's an "opinion" by David Stockton, Reagans Budget Director and coauthor of the Reagan tax cuts and trickle down economics. He was the "brains" behind your hero and now you don't like him? How fickle can you get?
    I know who he is and it's an opinion piece, and a dated one at that.

    Are you now a convert to Reaganomics and how a budget should be managed?

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Grant View Post
    A good thing for whom?
    A good thing for the economy. That's how a consumer economy works!
    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: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Grant View Post
    A good thing for whom?
    For America, you still know that name don't you? Or is it ALL about you?

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Sheik Yerbuti View Post
    Then everybody's taxes return to pre-2001 levels.
    As long as the spending returns to pre-2001 levels also, I'm ok with that.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Grant View Post
    Do you seriously believe that the 2% will reduce the deficit, or even that Barrack Obama will use whatever money he gets to pay down the deficit? That's a remarkable statement, given Obama's history.
    Yes and yes.

    Quote Originally Posted by Grant View Post

    Bush inherited a $5.8 trillion dollar debt and a recession. You can look it up.
    Good thing I looked it up ... there was no recession when Bush took office ...

    http://www.nber.org/cycles.html

    Also, what I said was not how much debt Bush inherited -- I pointed out that it was growing at the slowest level than it had been in many years. In the year leading up to Bush's inauguration, debt increased a meager $22 billion; compared to the year leading up to Obama's inauguration when the debt increased $1.4 trillion.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Catawba View Post
    A good thing for the economy. That's how a consumer economy works!
    A consumer economy works by "pulling cash out of hedge funds, investment banks, etc. and puts it back into our consumer economy"?

    Do the owners of those hedge funds have a say in the matter?

    This partly explains why people are pulling their money out of the US and putting it in paces like the Cayman Islands or Swiss banks. At one time people used to want to put their money in the United States but that's become a rather risky investment.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Jerry View Post
    As long as the spending returns to pre-2001 levels also, I'm ok with that.
    Given inflation, that's not possible.

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