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Thread: Republicans are acting like vandals

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    Re: Republicans are acting like vandals

    Quote Originally Posted by obvious Child View Post
    Yet they've basically agreed to $2 trillion in cuts over 10 years. Your inability to even read the news is disturbing.
    $200B y/r. 1.5T deficit. Leaves $1.3T deficit. Over 10 years, that adds $13T to the debt rather than $15T.
    Obama, our savior.


    Furthermore, anyone who argues this can be done solely with spending cuts is absolutely delusional and does not understand basic math.
    On the contrary - it is perfectly possible to reduce federal spending by $1.5T in the next fiscal year -- all you need to do is pass a budget to that effect.

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    Re: Republicans are acting like vandals

    Quote Originally Posted by upsideguy View Post
    When are the wackadoos of the right going to understand that tax policy, at least income taxes, has very little to do with economic growth or recovery
    Explain to us why then The Obama forced the Democrats to renew GWB's tax cuts.

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    Re: Republicans are acting like vandals

    Quote Originally Posted by PzKfW IVe View Post
    $200B y/r. 1.5T deficit. Leaves $1.3T deficit. Over 10 years, that adds $13T to the debt rather than $15T.
    Obama, our savior.



    On the contrary - it is perfectly possible to reduce federal spending by $1.5T in the next fiscal year -- all you need to do is pass a budget to that effect.
    I am reminded of a classmate in grade school who claimed he had a bad case of diaharrea and wanted to go home. The teacher told him to "think solid".
    __________________________________________________ _
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    Re: Republicans are acting like vandals

    Quote Originally Posted by cpwill View Post
    I do and I read the news on this rather obsessively. but the fact is that we have seen only one plan - it came from Senatorial Democrats and it suggested $2 Trillion in cuts and $2 Trillion in Taxes. Hilariously, I understand that they also included some new spending in the form of a Third Stimulus Package - raising questions on whether or not they have ever heard of the famous definition of insanity.

    Everything else is leaks and conjecture and hints and rumors and we have non complete picture.
    Oh. So - when you told me no such thing had ever happened and I should contact the media, because apparently I was privy to insider information, you already knew the truth of the matter??

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    Re: Republicans are acting like vandals

    No Boop, hes saying no one is on the record and its "unsubstantiated sources" or "insiders". If no one is on the record, its hearsay at best, unsourced and usually "leaked" intentionally to the news to affect negotiations.

    Don't take it as gospel truth, because it probably isn't.

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    Re: Republicans are acting like vandals

    Quote Originally Posted by PzKfW IVe View Post
    Explain to us why then The Obama forced the Democrats to renew GWB's tax cuts.
    of

    It was an exercise in compromise, a political method of giving in on something you do not like to get something even more important to you. This method had been routinely practiced by the US Executive and Legislative branches during the 18th, 19th and 20th centuries. However, it has largely been out of the Regressive playbook since about 2000, so when rare sightings occur, people often fail to recognize it often mistaking it for political weakness.

    If you recall, Obama was never in favor of extending tax cuts on the $250K+ crowd. He gave in to get the extension of the payroll based tax cuts for lower wage earners (the ones that will actually spend the money), and more importantly an extension of unemployment benefits, which Republicans detested (but apparently less than they detested having the idea of having the tax cuts expire on the high wage earners.)

    The logic that infers that Obama was in favor of extending the tax cuts on high wage earners because it would help (or not hurt) the economy would also have you conclude that the Republican leadership was in favor of extending unemployment benefits. Its bad logic.

    The act of endorsing a bill or voting in its favor should not be construed to mean they endorse all aspects of the bill or even like it. The art of politics is compromise, which means sometimes having to say "your sorry".
    Last edited by upsideguy; 07-10-11 at 06:26 PM.

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    Re: Republicans are acting like vandals

    Quote Originally Posted by Badmutha View Post
    You said tax increases had minimal impact.........and now your admitting they do have a substantial impact......please tell us what the cut-off point is.

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    To clarify, increasing taxes on the ones most benefiting from this economy (those that right now are making very good money) will have minimal impact on economic recovery but can have a substantial impact on deficit reduction. It is minimal pain for maximum gain. On the contrary, taxing those that are currently struggling or removing expenditures that might go to the middle class will have maximum pain on the economic recovery and will likely contribute little to deficit reduction (and may even make it worse.)

    Remember, if you take a $1 of expenditure out of the market with a multiplier of 1.6, that will come back in taxes at 30%... call that $.50. Hence, for every dollar you reduce expenditure, you are really only getting a $.50 debt reduction impact. OTH, a big part of the current deficit is revenue short fall.

    The slowing of the economy in 2008 took $400B out of government tax receipts and then unemployment benefit payments went up $100B, hence, 1/3 of the current deficit run rate is the recession itself. You fix the recession and you go a long way to fixing the deficit..... and expenditures are a much better way to fix the deficit.

    BTW, Obama did not triple the running deficit. The running deficit under Bush was $700B.... then Bush added $500B (as per above) by handing over a severely recessed economy. The running deficit when Obama took office was just under $1.2T. Obama's great sin is not that he caused the problem (he did not), he just hasn't been able to fix it.
    Last edited by upsideguy; 07-10-11 at 06:42 PM.

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    Re: Republicans are acting like vandals

    Quote Originally Posted by PzKfW IVe View Post
    $200B y/r. 1.5T deficit. Leaves $1.3T deficit. Over 10 years, that adds $13T to the debt rather than $15T.
    Obama, our savior.



    On the contrary - it is perfectly possible to reduce federal spending by $1.5T in the next fiscal year -- all you need to do is pass a budget to that effect.
    Actually, that is not possible. Reducing expenditures also leads to revenue reduction. You can not spend cut your way out of a deficit and you certainly can not do it with out causing a very deep recession / depression (which, of course IS revenue reduction)

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    Re: Republicans are acting like vandals

    Quote Originally Posted by upsideguy View Post
    To clarify, increasing taxes on the ones most benefiting from this economy (those that right now are making very good money) will have minimal impact on economic recovery but can have a substantial impact on deficit reduction. It is minimal pain for maximum gain. On the contrary, taxing those that are currently struggling or removing expenditures that might go to the middle class will have maximum pain on the economic recovery and will likely contribute little to deficit reduction (and may even make it worse.)
    So increasing taxes on struggling business owners and employers will have no impact whatsoever.........

    Remember, if you take a $1 of expenditure out of the market with a multiplier of 1.6, that will come back in taxes at 30%... call that $.50. Hence, for every dollar you reduce expenditure, you are really only getting a $.50 debt reduction impact. OTH, a big part of the current deficit is revenue short fall.
    And if that had a grain of truth.....The Soviet Union would have been the most prosperous nation the world had ever seen.....

    The slowing of the economy in 2008 took $400B out of government tax receipts and then unemployment benefit payments went up $100B, hence, 1/3 of the current deficit run rate is the recession itself. You fix the recession and you go a long way to fixing the deficit..... and expenditures are a much better way to fix the deficit.
    Right.....a bloated and out of control liberal government spending MORE MONEY.....will surely fix our debt and deficit......

    BTW, Obama did not triple the running deficit. The running deficit under Bush was $700B.... then Bush added $500B (as per above) by handing over a severely recessed economy. The running deficit when Obama took office was just under $1.2T. Obama's great sin is not that he caused the problem (he did not), he just hasn't been able to fix it.
    If you say so.........




    The Largets Budget in World History......
    The Largest Spending Bill in World History.....
    The Largest Omnibus Bill in World History.....
    The Largest Entitlement Program in World History........

    ....evntually they start adding up......

    ............Barack HusSame Obama--The Most Expensive President in World History.
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    .

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    Re: Republicans are acting like vandals

    Quote Originally Posted by upsideguy View Post
    If you recall, Obama was never in favor of extending tax cuts on the $250K+ crowd. He gave in to get the extension of the payroll based tax cuts for lower wage earners (the ones that will actually spend the money), and more importantly an extension of unemployment benefits, which Republicans detested (but apparently less than they detested having the idea of having the tax cuts expire on the high wage earners.)
    Wait... GWB cut taxes for someone other than the rich, and those tax cuts have a positive effect on the economy?
    Say it ain't so.

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