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Thread: Census finds record gap between rich and poor

  1. #1231
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by winston53660 View Post
    Does it really make any difference either way? The Feds still made a profit.
    Is that the way you run your business? Think about it, according to all sources Freddie and Fannie are still losing money and requiring more taxpayer bailouts so instead of paying a dividend and then asking for more money use that dividend to require less taxpayer money.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Is that the way you run your business? Think about it, according to all sources Freddie and Fannie are still losing money and requiring more taxpayer bailouts so instead of paying a dividend and then asking for more money use that dividend to require less taxpayer money.

    Meh I think how the deal is made is working out pretty well. Fannie and Freddie get to stay in business some people get to stay in their homes, some value remains the real estate market and the Feds get to make a profit against the bailout.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by winston53660 View Post
    Meh I think how the deal is made is working out pretty well. Fannie and Freddie get to stay in business some people get to stay in their homes, some value remains the real estate market and the Feds get to make a profit against the bailout.
    Why does Fannie and Freddie have to stay in business when both continue to cost the taxpayers billions? Interesting how little logic liberals apply to almost every issue.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Why does Fannie and Freddie have to stay in business when both continue to cost the taxpayers billions? Interesting how little logic liberals apply to almost every issue.

    uhh profit 1.1 billion...your sophistry really knows no bounds.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by winston53660 View Post
    uhh profit 1.1 billion...your sophistry really knows no bounds.
    this is nothing more than a vicious circle, govt. bails out Freddie and Fannie, gets paid a dividend so they can pump that money back into more bailouts for Freddie and Fannie. That is liberal logic.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Do you work for the govt, or are you in school and don't pay any taxes at all? Only in the liberal world are tax cuts an expense to the Federal Govt. Tax rate cuts have only happened three times in modern history, JFK, Reagan, and Bush and during all three Administrations GDP Grew as did Govt. revenue.
    WRONG!!! The debt tripled during Reagan's term. Then after the Cold War ended, the debt went down during Clinton's term. Then when Bush took office, the debt skyrocketed to over $10 TRILLION.

    The CBO for some reason has credibility but only when it makes claims that you support.
    NOPE!!! You are the one denying the CBO data because it doesn't support YOUR claims. That is why you are trying to use Treasury Dept data instead of the CBO.

    The Treasury shows where the money was spent and somehow in your world that isn't accurate. Where it is supposed to be spent and where it WAS spent are two different things. There was an increase in debt every year of Bill Clinton thus no surplus.
    PURE RUBBISH. You asked why the Treasury reports didn't include Clinton's surplus and I told you why. And now like a typical conservative, you're trying to avoid admitting you were wrong.

    The Treasury Dept. shows where the money was spent and that is all that matters, money spent and revenue collected. Clinton added 1.3 trillion to the debt and no year during his Administration did the dbet go down.
    Really? Because I checked the Treasury Dept website and guess what? It says you're WRONG.....

    Bureau of the Public Debt: Our History

    "The buildup to World War II brought the debt up another order of magnitude from $51 billion in 1940 to $260 billion following the war. After this period, the debt's growth closely matched the rate of inflation until the 1980s, when it again began to increase rapidly.
    Between 1980 and 1990, the debt more than tripled. The debt shrank briefly after the end of the Cold War, but by the end of FY 2008, the gross national debt had reached $10.3 trillion, about 10 times its 1980 level.


    Tax rate cuts=higher consumer spending=greater demand=more jobs=more govt. revenue. Why the passion for higher taxes and no apparent concern over how the money is spent?
    Sorry, but the Treasury Department says you've lost the debate.

    Tax cuts didn't create the debt, spending and the recession caused by the financial bubble bursting did.
    See the Treasury Dept. chart above. Clinton reduced spending and raised taxes on the wealthy and the national debt turned into a budget surplus. Then Bush came into office, increased spending and cut taxes and the budget surplus quickly turned into a $10.3 trillion national debt. There is no way that reduced revenue will reduce the national debt. Only an idiot would think it does.

    I prefer to base my reality on actual results, not rhetoric or partisan policy that ignores spending and promotes taking more money from the American people
    Well good, because the reality is you've lost the debate.

    Last edited by Moot; 11-06-10 at 11:48 PM.

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    Re: Census finds record gap between rich and poor

    Moot;1059087015]WRONG!!! The debt tripled during Reagan's term. Then after the Cold War ended, the debt went down during Clinton's term. Then when Bush took office, the debt skyrocketed to over $10 TRILLION.
    You are nuts, the debt never went down during the Clinton years, it went from 4.4 trillion to 5.7 trillion according to the U.S. Treasury Dept and they should know. Reagan debt grew 1.7 trillion in 8years and Obama has increased the debt 3 trillion in two years. What purpose does it serve to relive the past and ignore the present?

    You are the one denying the CBO data because it doesn't support YOUR claims. That is why you are trying to use Treasury Dept data instead of the CBO
    .

    CBO is the CONGRESSIONAL BUDGET OFFICE and reports to the Congress, The U.S. Treasury is the checkbook of the United States. That is like saying your bank really doesn't have an accurate accounting of your finances so we should pay more attention to an agency that makes predictions. There is quite a bit of ignorance here regarding CBO. Better check out their accuracy.


    You asked why the Treasury reports didn't include Clinton's surplus and I told you why. And now like a typical conservative, you're trying to avoid admitting you were wrong.
    Yes, you did because in your world Intergovt. holdings aren't really debt, but in the real world public debt and intergovt. debt added together is what we pay debt service on. Only in the liberal world can you borrow (steal) from SS and make the public debt look better. That would get you thrown in jail in the real world.


    Really? Because I checked the Treasury Dept website and guess what? It says you're a liar....

    Bureau of the Public Debt: Our History
    That is a personal attack, I am done with you. The fact is as I stated public debt and intergovt. holdings make up the U.S. debt and that is why debt went up during the Clinton years. The numbers don't make me a liar but do show how ignorant you are to the facts.
    Last edited by Conservative; 11-06-10 at 11:57 PM.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    You are nuts, the debt never went down during the Clinton years, it went from 4.4 trillion to 5.7 trillion according to the U.S. Treasury Dept and they should know. Reagan debt grew 1.7 trillion in 8years and Obama has increased the debt 3 trillion in two years. What purpose does it serve to relive the past and ignore the present?

    .

    CBO is the CONGRESSIONAL BUDGET OFFICE and reports to the Congress, The U.S. Treasury is the checkbook of the United States. That is like saying your bank really doesn't have an accurate accounting of your finances so we should pay more attention to an agency that makes predictions. There is quite a bit of ignorance here regarding CBO. Better check out their accuracy.




    Yes, you did because in your world Intergovt. holdings aren't really debt, but in the real world public debt and intergovt. debt added together is what we pay debt service on. Only in the liberal world can you borrow (steal) from SS and make the public debt look better. That would get you thrown in jail in the real world.




    That is a personal attack, I am done with you
    LOL MOot's the one who claimed that the rich should pay all of the estate taxes because they own all the land.

    why stop conversing with someone like that when you can have so much fun?



  9. #1239
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by TurtleDude View Post
    LOL MOot's the one who claimed that the rich should pay all of the estate taxes because they own all the land.

    why stop conversing with someone like that when you can have so much fun?
    You are probably right, the liar comment got me for a moment but I am over it. Moot does provide some good entertainment.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    You are probably right, the liar comment got me for a moment but I am over it. Moot does provide some good entertainment.
    Fiscal
    Year Year

    Ending National Debt Deficit

    FY1993 09/30/1993 $4.411488 trillion
    FY1994 09/30/1994 $4.692749 trillion $281.26 billion
    FY1995 09/29/1995 $4.973982 trillion $281.23 billion
    FY1996 09/30/1996 $5.224810 trillion $250.83 billion
    FY1997 09/30/1997 $5.413146 trillion $188.34 billion
    FY1998 09/30/1998 $5.526193 trillion $113.05 billion
    FY1999 09/30/1999 $5.656270 trillion $130.08 billion
    FY2000 09/29/2000 $5.674178 trillion $17.91 billion
    FY2001 09/28/2001 $5.807463 trillion $133.29 billion


    http://www.treasurydirect.gov/NP/BPD...application=np
    Last edited by Conservative; 11-07-10 at 12:17 AM. Reason: Added Treasury Link

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