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Thread: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by independent_thinker2002 View Post
    Correct. We could have lost more.
    LMAO!!!!!!!!!!!!!!!!

    That lame ass argument? You have all your Obama talking points on post-it notes all around your monitor, don't you?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by haymarket View Post
    its the wrong people Dude... the freakin wrong people.

    But then, you knew that already.
    The wrong people?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by TurtleDude View Post
    yeah the thought of other people making money seems to really bother lots on the left these days
    how is the market going up benefiting him? same argument i've had with conservative, just because the stock market is up, doesnt mean any jobs are being created....how do you define a recession ending? personally, i'd say it is when businesses are adding people to payroll, and the unemployment rate coming down, and people spending more, not just a set of numbers going up, and stockholders getting paid dividends.

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by randel View Post
    how is the market going up benefiting him? same argument i've had with conservative, just because the stock market is up, doesnt mean any jobs are being created....how do you define a recession ending? personally, i'd say it is when businesses are adding people to payroll, and the unemployment rate coming down, and people spending more, not just a set of numbers going up, and stockholders getting paid dividends.
    I believe that I read somewhere that 5% unemployment is considered acceptable to our economic system, so once we get there, the recession should be over. BUT, there will be lingering effects. A lot of people got really burned this time, losing jobs AND savings, housing, investments, and they will be more careful next time a "golden opportunity" presents itself. We are retired and doing well, but I credit my paranoia for being OK. We know several people who worked in the financial industries who mistakenly kept most, if not all, their investments in their employers stock. The company stock value tanked, and left these people broke.

    Where my sister lives in Houston, there use to be a lot of Enron employees. When Enron crashed, a lot of people got hurt. Houses in my sister's neighborhood are still cheap....

    Wall Street workers jobs may be the last to recover....
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by UtahBill View Post
    I believe that I read somewhere that 5% unemployment is considered acceptable to our economic system, so once we get there, the recession should be over. BUT, there will be lingering effects. A lot of people got really burned this time, losing jobs AND savings, housing, investments, and they will be more careful next time a "golden opportunity" presents itself. We are retired and doing well, but I credit my paranoia for being OK. We know several people who worked in the financial industries who mistakenly kept most, if not all, their investments in their employers stock. The company stock value tanked, and left these people broke.

    Where my sister lives in Houston, there use to be a lot of Enron employees. When Enron crashed, a lot of people got hurt. Houses in my sister's neighborhood are still cheap....

    Wall Street workers jobs may be the last to recover....
    you are correct, 5% unemployment rate is considered 'full employment' in our system.....the arguement with conservative, he constantly says 'recession ended last spring' and 'how long should we pay unemployment benefits'....my response to him was the one i gave turtle, who decided the recession was over? stockholders? are we considering it over just because the stock market , the dow jones industrial average, has been going up? sure the hell isnt over for those still looking for work.

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by Conservative View Post
    Does your bank account show revenue or revenue before inflation? Does it matter today?

    Let me ask you how do tax cuts affect you? Do you have more or less take home pay after tax cuts? Then what?

    The tax cuts legislated in 2001 were the same as Obama's rebate checks, the withholding cuts came in July 2003 AFTER the GOP Took Congress, notice the revenue change?

    If you are for extending cuts for 80% of the people and based upon your concern for the deficit how much does that add to the deficit vs. raising taxes on the 3 million or so that are so called rich? The 80% amount to millions more.
    The economy grows/declines each year. You can't just equate 100bn from 2001 with 100bn with 2009, because in terms of 2009 dollars 100bn from 2001 is actually $121,413,973,630. Is a MASSIVE increase in revenue when unaccounted for inflation in Zimbabwe proof of insanely good tax policy? No, it's a proof that they print money like there's no tomorrow, and it devalues the dollar at a much higher rate than over here. This is an extreme example, but the principle is the same.

    If you have less taxes then you take home more money. Then you have a choice to either spend or save it. Given that those in the top 20% spend significantly less than they earn, we can only assume that they save it. I posted some stats on expenditure earlier.

    I have a concern for the deficit, but as I have said numerous times before, I'm willing to sacrifice some of the deficit for faster economic revival, given that we pay it back.


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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by Erod View Post
    Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts - FoxNews.com



    Notably, unemployment benefits will be extended by 13 months (taking it to 3+ years), and social security taxes will be reduced from 6.2 percent to 4.2 percent, giving everyone a few extra bucks in their next paycheck.

    From a business perspective, not only will the Bush tax cuts be extended, small businesses will now be able to deduct 100 percent of their capital improvements/investments in their company (up from 50 percent before).

    This is more proof that Democrats like Obama run on these platitudes to get votes, but they know the only way to truly stimulate the economy is to put the money in our hands. The recent elections, and the real world, left him no choice but to go the GOP way and then engage in spin control.

    The problem for Obama is that, because he didn't extend the cuts for more years, the debate will rage on for the next two years until the issue comes back, just in time for the 2012 presidential election. And what far left liberals are going to trust him now.

    I will say this: I'm grateful that he capitulated, although extending the benefits to over two years seems like a bad message. Many Americans are licking their chops at free money for no work for three years. We all know a few folks like that.
    Your entire post could have been, "He did something that not even a conservative president would have done but **** him anyways that's why."
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by randel View Post
    you are correct, 5% unemployment rate is considered 'full employment' in our system.....the arguement with conservative, he constantly says 'recession ended last spring' and 'how long should we pay unemployment benefits'....my response to him was the one i gave turtle, who decided the recession was over? stockholders? are we considering it over just because the stock market , the dow jones industrial average, has been going up? sure the hell isnt over for those still looking for work.
    The National Bureau of Economic Research

    Last Four Recessions and their Durations
    12/07 - 6/09 18 months
    3/01 - 11/01 8 months
    7/90 - 3/91 8 months
    7/81 - 11/82 16 months

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by SirPwn4lot View Post
    The economy grows/declines each year. You can't just equate 100bn from 2001 with 100bn with 2009, because in terms of 2009 dollars 100bn from 2001 is actually $121,413,973,630. Is a MASSIVE increase in revenue when unaccounted for inflation in Zimbabwe proof of insanely good tax policy? No, it's a proof that they print money like there's no tomorrow, and it devalues the dollar at a much higher rate than over here. This is an extreme example, but the principle is the same.

    If you have less taxes then you take home more money. Then you have a choice to either spend or save it. Given that those in the top 20% spend significantly less than they earn, we can only assume that they save it. I posted some stats on expenditure earlier.

    I have a concern for the deficit, but as I have said numerous times before, I'm willing to sacrifice some of the deficit for faster economic revival, given that we pay it back.

    How do you know what the rich do with their money as you continue to buy what this Administration tells you.

    Have you ever seen the Federal Govt. taking more revenue and taking that revenue to pay down the deficit or debt?

    Right now there are 16 million unemployed Americans so tell me how raising the taxes on anyone puts these people back to work paying taxes? What far too many ignore is that lowering taxes stimulates economic activity including job hiring. More money in your hands and the hands of other taxpayers means more demand and higher unemployment.

    Better be careful what you buy from this Administration that hasn't been accurate on any prediction. It is a slippery slope when anyone buys the rhetoric that taking money from someone else to redistribute it to others is good economic policy and ignores the basic principle that it is the tax payers money FIRST. I prefer you keeping more of what you earn and decising how to spend it. Check out charitable giving during periods of lower taxes?

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by haymarket View Post
    its the wrong people Dude... the freakin wrong people.

    But then, you knew that already.
    Oh, so now you want to pick who gets to make money and who doesn't?

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