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Thread: Lloyds Bank hit by Obama tax purge

  1. #31
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by tlmorg02 View Post
    Production of manufactured goods in this country is a thing of the past. Services and technology may still be within the sphere of the U.S., but with children doing ever poorer in science and mathmatics, and less entering into the fields, we will most certainly lose these areas of economic growth as well. Ultimately, machines will produce goods rather than people, therefore innovation is needed to grow our economy and to find new jobs.
    Machines have always pushed out jobs. They make us more productive so we can make more and better things. With all those machines though, you need people who know how to fix and run them. There will still be a ton of manufacturing jobs.

    I think at this point, without a war or some other catstrophy, China is on course to be the next economic leader of the world. The U.S. is falling behind and I do not see how we shall retake the throne anytime soon.
    Very true, they have handled their economy much better than the US because they have handled it less.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  2. #32
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by Frodly View Post
    Yes, if you have millions of dollars, and yet you still work as hard as you can to avoid taxes, you are an immoral person. Your priorities are WAY out of whack. My grandfather has millions, and he is miserable old prick. My father is a construction worker, and he is one of the best men in the entire world. I have no desire to be rich rich rich one day. All I desire is to be a decent human being!!
    I don't agree with this. I think it is natural to work within the rules to avoid paying as much in taxes as you can. I don't find that immoral. However, I also have no problem with closing those loopholes.

  3. #33
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by tlmorg02 View Post
    I only care that people who are "affluent," follow the same rules as everyone else.
    So you support a flat tax?

  4. #34
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by Dav View Post
    So you support a flat tax?
    Yes I do, with a much smaller government.

  5. #35
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by tlmorg02 View Post
    The nerve of the president! Telling rich people that they have to pay their taxes!!! This never would have happened under George W.
    I detested George too - but did he appoint a tax evader as Secretary of the Treasury?

  6. #36
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by azura28 View Post
    I detested George too - but did he appoint a tax evader as Secretary of the Treasury?
    Who knows what Paulson is guilty of. Economists hailed him as the person to handle the economic crisis, yet when he was CEO of Goldman Sachs, Paulson directly lobbied for the weakening of the regulatory bodies that allowed the economic meltdown to occur.

  7. #37
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by tlmorg02 View Post
    Who knows what Paulson is guilty of. Economists hailed him as the person to handle the economic crisis, yet when he was CEO of Goldman Sachs, Paulson directly lobbied for the weakening of the regulatory bodies that allowed the economic meltdown to occur.
    Yet he didn't argue against the Fed's obscenely low interest rates. That caused the problem more than deregulatoin.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  8. #38
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by phattonez View Post
    Yet he didn't argue against the Fed's obscenely low interest rates. That caused the problem more than deregulatoin.
    Of course not, cheap money leads to more money for business. The problem was that the lack of oversight created the environment for the pitiful lending practices that brought the whole cheap credit, house of cards down.

  9. #39
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    Re: Lloyds Bank hit by Obama tax purge

    Quote Originally Posted by tlmorg02 View Post
    Of course not, cheap money leads to more money for business. The problem was that the lack of oversight created the environment for the pitiful lending practices that brought the whole cheap credit, house of cards down.
    Cheap money is artificial though. It makes everyone think that they have more wealth then they really do and causes malinvestment.

    In a free market, with little savings, you'd have high interest rates. This would mean that companies would invest in today's production instead of investing for the future. Good thing too since people aren't saving for that future. It works vice versa too. However, right now, we have the Fed artificially lowering interest rates despite almost 0 savings. This means that we are still investing in a future that we have no money for and are we don't have the capital to back those loans. It's a terrible method since it always creates a bubble. We want sustainable growth, not business cycle growth.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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