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Thread: Volcker: Taxes likely to rise eventually to tame deficit

  1. #31
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by liblady View Post
    no, that's not waht happened. washington did not force anyone to make bad loans.
    That's what your political masters tell you to think. Good to see you follow without question.

    Here you go, some reading to open your eyes.

    The thousands of mortgage defaults and foreclosures in the "subprime" housing market (i.e., mortgage holders with poor credit ratings) is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. The policy in question is the 1977 Community Reinvestment Act (CRA), which compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria.

    The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from. These included various "neighborhood organizations," as they like to call themselves, such as "ACORN" (Association of Community Organizations for Reform Now). These organizations claim that over $1 trillion in CRA loans have been made, although no one seems to know the magnitude with much certainty. A U.S. Senate Banking Committee staffer told me about ten years ago that at least $100 billion in such loans had been made in the first twenty years of the Act.
    The Government-Created Subprime Mortgage Meltdown by Thomas DiLorenzo

    It's merely a starting point to get you to see that YES, government decree made the housing crisis. YES lenders figured out how to game the system... but guess what dear? They wouldn't have had the "Game" had the Gov. not created the conditions IN THE FIRST PLACE!
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  2. #32
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by MrVicchio View Post
    Why not... cut those programs? Oh damn, what a concept. It's called WE CANNOT AFFORD THEM.

    Not, "Can we raise tazes enough to maybe cover them". We flat out cannot afford these entitlement programs anymore. We couldn't to begin with, SS, Medicade, Medicare, now Obamacare... all PONZI SCHEMES.

    There is a reason such are illegal, CAUSE THEY ALWAYS FAIL.
    Yet you ignore my previous statement just to rant.

    As beneficial as it would be to the long term budget, cutting SS, Medicare and unemployment benefits is political suicide. A more realistic approach is a combination of the two (for the sake of feasibility).
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  3. #33
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by MrVicchio View Post
    Now, the mess we're in now was caused by WASHINGTON dictating to lenders who to give homeloans too. Freddie Mac and Fannie Mae are the culprits, not wall street.
    Dishonesty, lack of ethics, etc. abound on Wall St. Finaciers seeking to make it on the Forbes list of filthy rich are a major part of the problem. Once we have new rules that minimize the chance of the latest fiasco happening again, the assholes on Wall St. will just look for another way to fleece the public.
    Oracle of Utah
    Truth rings hollow in empty heads.

  4. #34
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by Goldenboy219 View Post
    Yet you ignore my previous statement just to rant.

    As beneficial as it would be to the long term budget, cutting SS, Medicare and unemployment benefits is political suicide. A more realistic approach is a combination of the two (for the sake of feasibility).
    Political suicide? So what's good for the long term feasibility and continuation of the USA is secondary to political careers. Got it.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  5. #35
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by UtahBill View Post
    Dishonesty, lack of ethics, etc. abound on Wall St. Finaciers seeking to make it on the Forbes list of filthy rich are a major part of the problem. Once we have new rules that minimize the chance of the latest fiasco happening again, the assholes on Wall St. will just look for another way to fleece the public.


    Ah, you're one of those "Rich people are evil types". Hard to have an honest discussion with someone that is bigoted.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  6. #36
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by MrVicchio View Post
    Ah, you're one of those "Rich people are evil types". Hard to have an honest discussion with someone that is bigoted.
    It's like blaming every loss on the referees. Sometimes, the other team is just works harder and smarter than you.

  7. #37
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by MrVicchio View Post
    Ah, you're one of those "Rich people are evil types". Hard to have an honest discussion with someone that is bigoted.
    Calling me names? here is one for you, STUPID....

    Between me and the wife, our net worth in cash and property is almost a million bucks. Our retirement income is just over the 6 figure mark. We didn't get that way by accident, since both of us were raised poor.
    I never said the rich are evil. Clearly, if you learn to read, you will find that I said those who got rich in an unethical way are criminals.
    Betrayal of the public trust happens in government and in publicly traded companies. Congress doesn't make nice laws for the public unless it somehows benefits Wall Street....
    Oracle of Utah
    Truth rings hollow in empty heads.

  8. #38
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by UtahBill View Post
    Calling me names? here is one for you, STUPID....

    Between me and the wife, our net worth in cash and property is almost a million bucks. Our retirement income is just over the 6 figure mark. We didn't get that way by accident, since both of us were raised poor.
    I never said the rich are evil. Clearly, if you learn to read, you will find that I said those who got rich in an unethical way are criminals.
    Betrayal of the public trust happens in government and in publicly traded companies. Congress doesn't make nice laws for the public unless it somehows benefits Wall Street....
    Clearly, if you learn to read, you will find that I said those who got rich in an unethical way are criminals.
    Dishonesty, lack of ethics, etc. abound on Wall St. Finaciers seeking to make it on the Forbes list of filthy rich are a major part of the problem.
    I.E. anyone on wall street is just a greedy unethical **** and are a major part of the problem... in your view.

    Sad, wealth envy is the source of so much ignorance in
    America
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  9. #39
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by MrVicchio View Post
    I.E. anyone on wall street is just a greedy unethical **** and are a major part of the problem... in your view.

    Sad, wealth envy is the source of so much ignorance in
    America
    Do you often make things up when you attack people?

    When did he say anyone in the context of everyone?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  10. #40
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    Re: Volcker: Taxes likely to rise eventually to tame deficit

    Quote Originally Posted by Goldenboy219 View Post
    Do you often make things up when you attack people?

    When did he say anyone in the context of everyone?
    Mr. V knows a little bit about something related to weather and climate and then supposes he also knows a lot about everything else. He shames himself often in threads. Not likely he will ever get rich, he is too busy being a legend in his own mind.....
    Oracle of Utah
    Truth rings hollow in empty heads.

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