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Thread: Census finds record gap between rich and poor

  1. #1241
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    When you get a job you will understand take home pay and know that tax cuts allow you to take home more of your pay. People today that are working are benefiting from the Bush tax cuts as their take home pay is higher.
    As a middle-class person, yes that is true, but if you are wealthy it only means you get more money to "save".

    Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.

    Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody’s Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.

    The findings may weaken arguments by Republicans and some Democrats in Congress who say allowing the Bush-era tax cuts for the wealthiest Americans to lapse will prompt them to reduce their spending, harming the economy.

    Rich Americans Save Tax Cuts Instead of Spending, Moody's Says - Bloomberg

    They aren't getting benefits from the Obama tax cut any more.
    The Bush tax cuts are still in effect. So, I don't know what you mean.

    Tax Cuts for the Middle Class equal Tax Cuts for Rich

    Tax revenue is lower because of high unemployment, something Obama has done nothing to reduce and in fact has made it more expensive to hire.
    Another Republican/conservative lie. The bail out of the auto industry saved many jobs. Jobs that would have added to the unemployment. The Stimulus also saved many jobs, as well as kept us from going into depression.

    While the ARRA did not achieve its initial goals, many, including President Obama, consider it a major success. It has been credited for the large change in GDP growth that occurred between the first quarter of 2009, when GDP declined at more than a 6% annualized rate, and the second quarter, when GDP was roughly unchanged. More broadly, the Administration and others argue that the ARRA has saved up to 2 million jobs and prevented an economic meltdown similar to the Great Depression.

    Did Stimulus Create Any Jobs? - Forbes.com

    We had an election Tuesday that you have missed when the American people spoke in historic fashion.
    How did I miss it? It was predicted and is considered a normal occurrence for mid-term. That your party got the house is admirable, but whether that is a good thing for the country is yet to be seen. People's votes are mostly a reaction to all the lies the Republicans have been spreading and continue to spread. They have found a way to gain votes and that is through lying and it seems to be working well. However, the truth is bound to come out sooner or later, and then what will your party have?

    You probably ought to take the partisan hat off and figure out why there are 4 million more unemployed since Obama took office and on a month to month basis unemployment is higher this year than last year and it only cost the debt 3 trillion dollars.
    Perhaps you need to remove your tin-foil hat, it seems to be cutting the blood circulation and impairing your thinking. Reps/cons want Obama to fix in 2 years what took Bush 8 years to accomplish. Perhaps if Bush hadn't committed us to a useless war where we have wasted so much money, our economy wouldn't be in such bad shape. But, Reps/cons are so sure that now that they have gained control of the House, they are going to make everything rosy - I can hardly wait. Let's see how much of what they promised they are able to deliver.



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
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  2. #1242
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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?
    And yet, the Treasury Department says the debt TRIPLED under Reagan, went DOWN under Clinton, and went UP TO 10 TRILLION Under Bush. So how do you explain the major discrepancy between what you're saying and what the Treasury Department is saying, Con?

    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.
    In the real world, the public and government debt is the National debt and the Treasury Department which BTW you insisted on referencing, said the National Dept TRIPLED under Reagan, went DOWN under Clinton and went up to $10.3 TRILLION under Bush. So why can't you admit you were wrong, Con?

    That is a personal attack, I am done with you....
    Oh really, and after all the smarmy insults you've been engaging in? Please...

    Quote Originally Posted by Conservative View Post
    You are nuts...
    Quote Originally Posted by Conservative View Post
    Interesting how little logic liberals apply to almost every issue.
    Quote Originally Posted by Conservative View Post
    You are indeed confused,..... I suggest that instead of spending so much time here that you do some studying of history.
    Quote Originally Posted by Conservative View Post
    ... Facts seem to get lost in the liberal world of pure fantasy and social engineering.
    Quote Originally Posted by Conservative View Post
    ...You don't seem to have a basic understanding of how our govt. works. Please take a civics class.
    .....you look foolish.
    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
    The fact is, you said no such thing and are now just trying to weasel out of admitting you were wrong. So lets recap shall we? Here's what you originally said....
    Quote Originally Posted by Conservative View Post
    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......

    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.
    Well now, since the Treasury Department is all that matters in your little world, here once again is what Treasury Department said and they don't agree with you....

    Bureau of the Public Debt: Our History
    "....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.
    Bureau of the Public Debt: Our History
    Yeah, you're real big on insulting Liberals, but when the favor is returned and you're proven wrong, you don't have an ounce of intergrity, courage or character to admit it or concede. Yup, you're a typical Conservative alright.

  3. #1243
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by TurtleDude View Post
    Buffett is a hypocrite and complains about paying lower tax rates (due to the CG tax rate) because he played games and made his earned income abnormally low so as to ingratiate himself with people who feel as you do
    That is the lamest reason I've ever heard about why a wealthy person as Buffett would complain about paying lower taxes!

    "Because he wants to ingratiate himself with people who don't want the rich to pay lower taxes?"

    Ha,ha, that is such a stupid comment, I can't believe anyone would even come up with something like that!



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
    --Adlai Stevenson, Politician





  4. #1244
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by TurtleDude View Post
    The neverending lie-tax cuts cause a deficit. NO ITS SPENDING THAT CAUSES A DEFICIT
    You think tax-cuts pay for themselves?
    Contrary to popular belief, discretionary spending on social entitlement programs such as health care, unemployment benefits and Social Security is nowhere close to the leading cause of the exploding deficits over this past decade. The true culprit is the Bush tax cuts , which accounted for 48 percent of the deficit increase;
    TheDartmouth.com | Deficit Danger


    Besides, there are good reasons to let the tax cuts for the wealthy expire.

    President Bush and a Republican-controlled Congress passed a series of massive tax cuts from 2001 to 2006. Their cuts lowered everyone’s taxes, but they were skewed heavily to the wealthy. More than half of the total benefit from the Bush tax cuts this year alone will accrue solely to the richest 5 percent of Americans while the middle 20 percent of Americans will reap only 7 percent of the benefit.

    All of these tax cuts were passed with a “sunset” provision that will cause them to expire at the end of 2010. Virtually everyone in Congress agrees with the Obama administration that we should make permanent all of the reduced taxes for those who make less than $250,000—that’s 98 percent of Americans. The disagreement is limited to those cuts that affect the richest 2 percent of Americans—with conservatives demanding that the wealthiest Americans continue to benefit from the Bush administration’s largess.

    There are lots of good reasons to let the Bush tax cuts for the rich expire. Here are just three.

    1. Billions of dollars in tax breaks for the wealthy is just about the least efficient use of that money
    2.The Bush tax cuts didn’t deliver what they promised
    3.The tax cuts for nearly all Americans and American small businesses would stay in place
    ttp://www.americanprogress.org/issues/2010/07/let_cuts_expire.html


    constantly whining that the rich need to pay more only buys dems the votes of people who are envious
    And coddling the rich buys the Reps votes from the wealthy and all the loonies who are still under the impression that some of their money is going to trickle down to them. George H.W.Bush himself called it voodoo economics!

    it doesn't solve the deficit
    It will help pay off a chunk as opposed to adding:

    GOP plan to extend tax cuts for rich adds $36 billion to deficit, panel finds



    "I have been thinking that I would make a proposition to my Republican friends... that if they will stop telling lies about the Democrats, we will stop telling the truth about them."
    --Adlai Stevenson, Politician





  5. #1245
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by mertex View Post
    As a middle-class person, yes that is true, but if you are wealthy it only means you get more money to "save".

    Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.

    Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody’s Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.

    The findings may weaken arguments by Republicans and some Democrats in Congress who say allowing the Bush-era tax cuts for the wealthiest Americans to lapse will prompt them to reduce their spending, harming the economy.

    Rich Americans Save Tax Cuts Instead of Spending, Moody's Says - Bloomberg


    The Bush tax cuts are still in effect. So, I don't know what you mean.

    Tax Cuts for the Middle Class equal Tax Cuts for Rich


    Another Republican/conservative lie. The bail out of the auto industry saved many jobs. Jobs that would have added to the unemployment. The Stimulus also saved many jobs, as well as kept us from going into depression.

    While the ARRA did not achieve its initial goals, many, including President Obama, consider it a major success. It has been credited for the large change in GDP growth that occurred between the first quarter of 2009, when GDP declined at more than a 6% annualized rate, and the second quarter, when GDP was roughly unchanged. More broadly, the Administration and others argue that the ARRA has saved up to 2 million jobs and prevented an economic meltdown similar to the Great Depression.

    Did Stimulus Create Any Jobs? - Forbes.com


    How did I miss it? It was predicted and is considered a normal occurrence for mid-term. That your party got the house is admirable, but whether that is a good thing for the country is yet to be seen. People's votes are mostly a reaction to all the lies the Republicans have been spreading and continue to spread. They have found a way to gain votes and that is through lying and it seems to be working well. However, the truth is bound to come out sooner or later, and then what will your party have?


    Perhaps you need to remove your tin-foil hat, it seems to be cutting the blood circulation and impairing your thinking. Reps/cons want Obama to fix in 2 years what took Bush 8 years to accomplish. Perhaps if Bush hadn't committed us to a useless war where we have wasted so much money, our economy wouldn't be in such bad shape. But, Reps/cons are so sure that now that they have gained control of the House, they are going to make everything rosy - I can hardly wait. Let's see how much of what they promised they are able to deliver.
    Never in my life have I seen so many people obsessed with what someone else pays in taxes and so naive when it comes to how the govt. spends the tax dollars. For some reason you believe that an increase in taxes on the rich is going to increase revenue to the Federal Govt. Whether or not it does is irrelevant, it is wrong to penalize one group of people and to continue to promote class warfare.

    What happened on Tuesday was historic, 682 GOP State Legilators were elected along with 65 House members. You can continue to ignore it but that doesn't change the reality.

    Obama for some reason has you brainwashed. What exactly did he do while a Senator in Congress to prevent Bush from "creating" this mess and what exactly did the Democrats do after taking over in January 2007 to prevent this mess from occurring? The tinfoil hat is one that liberals wear so that they can get zapped by something that helps with the brainwashing.
    Last edited by Conservative; 11-07-10 at 09:30 AM. Reason: spelling

  6. #1246
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Moot View Post
    And yet, the Treasury Department says the debt TRIPLED under Reagan, went DOWN under Clinton, and went UP TO 10 TRILLION Under Bush. So how do you explain the major discrepancy between what you're saying and what the Treasury Department is saying, Con?


    In the real world, the public and government debt is the National debt and the Treasury Department which BTW you insisted on referencing, said the National Dept TRIPLED under Reagan, went DOWN under Clinton and went up to $10.3 TRILLION under Bush. So why can't you admit you were wrong, Con?

    Oh really, and after all the smarmy insults you've been engaging in? Please...







    The fact is, you said no such thing and are now just trying to weasel out of admitting you were wrong. So lets recap shall we? Here's what you originally said....


    Well now, since the Treasury Department is all that matters in your little world, here once again is what Treasury Department said and they don't agree with you....

    Bureau of the Public Debt: Our History


    Yeah, you're real big on insulting Liberals, but when the favor is returned and you're proven wrong, you don't have an ounce of intergrity, courage or character to admit it or concede. Yup, you're a typical Conservative alright.
    History of PUBLIC DEBT? Stealing money from the SS fund to show lower public debt doesn't make the TOTAL Debt lower. Creative accounting like that would get you fired in the private sector

  7. #1247
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by mertex View Post
    You think tax-cuts pay for themselves?
    Contrary to popular belief, discretionary spending on social entitlement programs such as health care, unemployment benefits and Social Security is nowhere close to the leading cause of the exploding deficits over this past decade. The true culprit is the Bush tax cuts , which accounted for 48 percent of the deficit increase;
    TheDartmouth.com | Deficit Danger


    Besides, there are good reasons to let the tax cuts for the wealthy expire.

    President Bush and a Republican-controlled Congress passed a series of massive tax cuts from 2001 to 2006. Their cuts lowered everyone’s taxes, but they were skewed heavily to the wealthy. More than half of the total benefit from the Bush tax cuts this year alone will accrue solely to the richest 5 percent of Americans while the middle 20 percent of Americans will reap only 7 percent of the benefit.

    All of these tax cuts were passed with a “sunset” provision that will cause them to expire at the end of 2010. Virtually everyone in Congress agrees with the Obama administration that we should make permanent all of the reduced taxes for those who make less than $250,000—that’s 98 percent of Americans. The disagreement is limited to those cuts that affect the richest 2 percent of Americans—with conservatives demanding that the wealthiest Americans continue to benefit from the Bush administration’s largess.

    There are lots of good reasons to let the Bush tax cuts for the rich expire. Here are just three.

    1. Billions of dollars in tax breaks for the wealthy is just about the least efficient use of that money
    2.The Bush tax cuts didn’t deliver what they promised
    3.The tax cuts for nearly all Americans and American small businesses would stay in place
    ttp://www.americanprogress.org/issues/2010/07/let_cuts_expire.html



    And coddling the rich buys the Reps votes from the wealthy and all the loonies who are still under the impression that some of their money is going to trickle down to them. George H.W.Bush himself called it voodoo economics!


    It will help pay off a chunk as opposed to adding:

    GOP plan to extend tax cuts for rich adds $36 billion to deficit, panel finds
    Whether or not tax increases to the rich increase govt. revenue or not remains to be seen. regardless it is wrong to panalize one group of people over another and there is no evidence that tax increases will reduce the deficit because Congress continues to spend all the money they get. If it is 36 billion dollars great, you just lowered the deficit from 1.3 trillion to 1.264 trillion and you penalized job producers. That is liberal logic?

  8. #1248
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    Re: Census finds record gap between rich and poor

    For those that continue to ignore the U.S. Treasury data here are the Budget items for line items in that budget. Notice that entitlement spending (SS and Medicare) is on budget and thus responsible for much of the deficit. Also notice the actual line item and you tell me how much in that budget is duplicated at the state and local levels.

    2009 Budget vs. 2008 Budget

    Defense 662.8 616.1
    International Affairs 38.6 28.9
    Gen. Science, Space 29.9 27.8
    Energy 4.6 ..5
    Natural resources/env 45.7 31.9
    Agriculture 14.0 18.4
    Commerce 292.5 277.0
    Transportation 84.4 77.6
    Community Dev 26.2 23.9
    Education/Train/Social 78.2 90.9
    Health 334.3 280.7
    Medicare 430.1 390.8
    Income Security 533.9 427.4
    Social Security 683.0 617.0
    Veterans Benefits 95.5 84.6
    Justice 53.4 47.1
    General Govt. 17.6 20.3
    Net Interest 190.9 252.8


    Total 3615.6 3063.9

    2009 Budget 3615.6 trillion
    2008 Budget 3313.6 trillion
    Last edited by Conservative; 11-07-10 at 10:34 AM.

  9. #1249
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    History of PUBLIC DEBT? Stealing money from the SS fund to show lower public debt doesn't make the TOTAL Debt lower. Creative accounting like that would get you fired in the private sector
    Um, the Bureau of Public Debt is a branch of the Treasury Department the same as your source, TreasuryDirect. Helloooooo. So if the Bureau of Public debt is using creative accounting methods, then so is your source, TreasuryDirect, since the two are interconnected.

    One of our primary responsibilities is to account for the U.S. public debt. We update this number daily at TreasuryDirect.gov
    Bureau of the Public Debt: Homepage

    You lose again.
    Last edited by Moot; 11-07-10 at 05:35 PM.

  10. #1250
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Moot View Post
    Um, the Bureau of Public Debt is a branch of the Treasury Department the same as your source, TreasuryDirect. Helloooooo. So if the Bureau of Public debt is using creative accounting methods, then so is your source, TreasuryDirect, since the two are interconnected.

    Bureau of the Public Debt: Homepage

    You lose again.
    Yes, it sure is and reports ONE PART OF THE DEBT not the TOTAL DEBT which went up. Looks to me like you are the one losing. Let's see if you have the maturity to admit when wrong?

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