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Thread: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

  1. #911
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by TurtleDude View Post
    weaning people off of handouts tends to make them into adults.
    Right, they aren't going to get handouts in this state the are going to work for it and when they do, the benefit from their labors, no state income taxes, part time legislature leading to a pro business economic policy.

  2. #912
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    talk to the times

    The State of Illinois is still paying off billions in bills that it got from schools and social service providers last year. Arizona recently stopped paying for certain organ transplants for people in its Medicaid program. States are releasing prisoners early, more to cut expenses than to reward good behavior. And in Newark, the city laid off 13 percent of its police officers last week.

    While next year could be even worse, there are bigger, longer-term risks, financial analysts say. Their fear is that even when the economy recovers, the shortfalls will not disappear, because many state and local governments have so much debt — several trillion dollars’ worth, with much of it off the books and largely hidden from view — that it could overwhelm them in the next few years.

    Some of the same people who warned of the looming subprime crisis two years ago are ringing alarm bells again. Their message: Not just small towns or dying Rust Belt cities, but also large states like Illinois and California are increasingly at risk.

    Municipal bankruptcies or defaults have been extremely rare — no state has defaulted since the Great Depression, and only a handful of cities have declared bankruptcy or are considering doing so.

    But the finances of some state and local governments are so distressed that some analysts say they are reminded of the run-up to the subprime mortgage meltdown or of the debt crisis hitting nations in Europe.

    Analysts fear that at some point — no one knows when — investors could balk at lending to the weakest states, setting off a crisis that could spread to the stronger ones, much as the turmoil in Europe has spread from

    As the downturn has ground on, some of the worst-hit cities and states have resorted to fiscal sleight of hand to stay afloat, helping them close yawning budget gaps each year, but often at great future cost.

    Few workers with neglected 401(k) retirement accounts would risk taking out second mortgages to invest in stocks, gambling that the investment gains would be enough to build bigger nest eggs and repay the loans.

    But that is just what Illinois, which has been failing to make the required annual payments to its pension funds for years, is doing. It borrowed $10 billion in 2003 and used the money to invest in its pension funds. The recession sent their investment returns below their target, but the state must repay the bonds, with interest. The solution? Illinois sold an additional $3.5 billion worth of pension bonds this year and is planning to borrow $3.7 billion more for its pension funds.

    It is the long-term problems of a handful of states, including California, Illinois, New Jersey and New York, that financial analysts worry about most, fearing that their problems might precipitate a crisis that could hurt other states by driving up their borrowing costs.
    http://www.nytimes.com/2010/12/05/us.../05states.html

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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by The Prof View Post
    Prof, your posts are amazing, thanks for all the documented links and effort you have put into these threads. You make a lot of people look foolish.

  4. #914
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by WeAreReborn View Post
    I think one can be proud of their achievements and recognize their success, but can still stay humble. While treating others who many not be as successful with as much respect as they would treat someone in a better position. So if your nephew isn't egotistical and thinks he deserves more then anyone else I wouldn't call him an elitist.
    not an elitist but elite.

    striving to be elite is good

    we need to encourage more people to strive to be the best they can be-rather then creating the opiate of state sponsored mediocrity



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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by Conservative View Post
    You make a lot of people look foolish.
    they do it to themselves

    they don't know what's going on, too busy arguing their narcissistic talking points, products of ego, like plato in his cave

    it's hard to debate a link

  6. #916
    I invented Human Nature
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by The Prof View Post
    they do it to themselves

    they don't know what's going on, too busy arguing their narcissistic talking points, products of ego, like plato in his cave

    it's hard to debate a link
    OMG THE ALLEGORY OF THE CAVE! truely you are the almighty!!!
    Don't tread on me= Don't tread on my corporate masters

  7. #917
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    thumbnail sketches of socrates, plato and aristotle, most all you need to know in 2 or 3 minutes of reading, fyi

    http://www.debatepolitics.com/off-to...aristotle.html

  8. #918
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Quote Originally Posted by The Prof View Post
    thumbnail sketches of socrates, plato and aristotle, most all you need to know in 2 or 3 minutes of reading, fyi

    http://www.debatepolitics.com/off-to...aristotle.html
    Your knowledge of aristotle is pretty vague. Your coverage of all of these is missing:

    Common good, spoudaois, ideal regime, distributive and commutative justice, noetic faculties, slaves by nature/slaves by law etc
    Last edited by Z3n; 12-12-10 at 12:19 AM.
    Don't tread on me= Don't tread on my corporate masters

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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    your coverage of the topic lacks appreciation of the emphasis of narcissistic contemplation above LINKS

    as in:

    Republicans Win House Majority, Make Senate Gains in Wave Election - FoxNews.com

    Unemployment Rate Hits 9.8% as Job Growth Slows - CBS News

    Obama Caves on Tax Cuts, Endorses 'Bush-McCain Philosophy' | The Nation

    are you familiar with ms vanden heuvel?

  10. #920
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    Re: House Passes Middle-Class Tax Cut as Dems, GOP Try to Reach Compromise

    Yes I have heard of her, why?
    Don't tread on me= Don't tread on my corporate masters

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