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Thread: Over 90% of the income gains in the first year of the recovery went to the top 1%

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    I've read the budget plans, and the Ryan plan cuts revenues so much more than spending the deficit is larger that projected if we do nothing. Basically what is does is throw seniors under the bus to give the rich bigger tax cuts, so it adds to the deficit rather than reducing it,
    Wrong. Nothing changes for people over 55 right now. People under 55 will need to change their retirement plans to allocate a lesser amount of it from social security. I know I have, I dont expect it to be there at all when I retire.
    If you add in Romney's pledge to increase spending on the military, that creates a trillion dollars more in deficit spending over the next decade.
    Increased spending in readiness and technology will still equal less spending than in an active shooting conflict, which we will not be engaged in after 2014? 2013?

    Regarding Glass Steagel, unfortunately, the horse is out of the barn there. Reversing the financial instruments and processes is like a gordian knot now, there is almost no way to do it. I agree with tightening regulation but I dont agree with how Dodd/Frank went about it. The regulation should not be so independent that it is beyond congressional review. There are ways to pass regulation that requires the President to make final decisions and sign an executive order to a final action. Pushing it off to a appointed panel, even with Senate review is ludicrous. We have too much of that sort of responsibility dodging already.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    That's more than you've posted to back up your claims that the Ryan budget would lower the deficit?

    I've told you I've looked at the numbers and agree with the experts, Ryan's budget proposal increases the deficit due to the tax cuts to the rich.
    I didn’t post any data as I thought you could view it on your own. I also hoped you would take a comparative analysis of the two plans as I suggested, but since you want to ‘believe’ the ‘experts’ let me help you out. Per NYT:

    Deficit in 2016
    BHO plan - $529b
    PTP - $241b

    Debt accumulated in 2022
    BHO plan - $6.4t
    PTP - $3.1t

    Balances the budget
    BHO plan - NO
    PTP – by 2040

    New revenues
    BHO plan – 1.5t over 10 years
    PTP - NO

    Comparing Party Budget Plans - Graphic - NYTimes.com

    So the BHO plan projects TWICE the increase in 2016 deficit, TWICE the increase in debt in 10yrs and NEVER balances the budget and you ‘looked at the numbers’ and like this plan better…that cool-aid is STRONG! I hope they don’t run out…for their sake.

    And Romney's pledge to increase military spending increases the deficit even more.

    And unlike you, I have enough confidence in my position, and that enough of my fellow citizens agree, to bet that Romney loses in November.
    Again, this discussion is not about Romney…why do you continue to divert?

  3. #293
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by OpportunityCost View Post
    Wrong. Nothing changes for people over 55 right now. People under 55 will need to change their retirement plans to allocate a lesser amount of it from social security. I know I have, I dont expect it to be there at all when I retire.
    So you are thinking seniors will happily vote to be thrown under the bus in ten years from now to enable more government spending and even bigger tax cuts for the rich???
    Paying $14,000 a year may not be a burden to you but it sure as hell would be for most seniors.

    Increased spending in readiness and technology will still equal less spending than in an active shooting conflict, which we will not be engaged in after 2014? 2013?
    We can increase readiness and technology by cutting other wasteful and no longer needed areas as the president has ordered, or we can increase our deficit by more spending on the military just as we did under Bush, as Romney has pledged. No thanks!

    Regarding Glass Steagel, unfortunately, the horse is out of the barn there. Reversing the financial instruments and processes is like a gordian knot now, there is almost no way to do it. I agree with tightening regulation but I dont agree with how Dodd/Frank went about it. The regulation should not be so independent that it is beyond congressional review. There are ways to pass regulation that requires the President to make final decisions and sign an executive order to a final action. Pushing it off to a appointed panel, even with Senate review is ludicrous. We have too much of that sort of responsibility dodging already.
    The "horse was out of the barn" after the Great Depression when they separated investment banks and commercial banks the first time. HR 1489 does it again, and has 53 co-sponsors. Its time to dismantle the banks too big to fail that require government bailouts to prevent world wide economic depression.
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    That's more than you've posted to back up your claims that the Ryan budget would lower the deficit?

    I've told you I've looked at the numbers and agree with the experts, Ryan's budget proposal increases the deficit due to the tax cuts to the rich.

    And Romney's pledge to increase military spending increases the deficit even more.

    And unlike you, I have enough confidence in my position, and that enough of my fellow citizens agree, to bet that Romney loses in November.
    do you support more and more taxes on the rich if you thought it could pay down the deficit?

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    do you support more and more taxes on the rich if you thought it could pay down the deficit?
    I know that I support more taxes on all income earners to help pay our bills. That has been my long standing position. And that includes my taxes as well.
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by haymarket View Post
    I know that I support more taxes on all income earners to help pay our bills. That has been my long standing position. And that includes my taxes as well.
    your plans would mean those who pay too much pay far far more while those who don't pay enough often still do not pay enough to teach them the cost of too much government

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    your plans would mean those who pay too much pay far far more while those who don't pay enough often still do not pay enough to teach them the cost of too much government
    We all can bitch and whine about the other guy not paying enough. Lets stop the whining and bitching and all pitch in for heavens sake. Our grandkids will thank us for it.
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Dickieboy View Post
    I didn’t post any data as I thought you could view it on your own. I also hoped you would take a comparative analysis of the two plans as I suggested, but since you want to ‘believe’ the ‘experts’ let me help you out. Per NYT:

    Deficit in 2016
    BHO plan - $529b
    PTP - $241b

    Debt accumulated in 2022
    BHO plan - $6.4t
    PTP - $3.1t

    Balances the budget
    BHO plan - NO
    PTP – by 2040

    New revenues
    BHO plan – 1.5t over 10 years
    PTP - NO

    Comparing Party Budget Plans - Graphic - NYTimes.com

    So the BHO plan projects TWICE the increase in 2016 deficit, TWICE the increase in debt in 10yrs and NEVER balances the budget and you ‘looked at the numbers’ and like this plan better…that cool-aid is STRONG! I hope they don’t run out…for their sake.


    Again, this discussion is not about Romney…why do you continue to divert?

    From your source:

    "But by 2016, the deficit would fall to $241 billion by Republican estimates."

    You go with the Republican estimates if you wish, and I'll go with the analysis by the CBO that shows that Ryan's budget increases the deficit above what is projected.

    The Republicans in the Bush administration also estimated they could increase spending on the military and cut taxes for the rich. That just produced more debt. No thanks!

    Additionally, the GOP plan would end Medicare as we know it, and seniors would be faced with spending over $14,000 a year for health care.

    "The House Budget Committee blueprint for spending and taxation over the next decade would reshape Medicare into a system of private insurance plans, shrink programs for the poor and turn them over to state governments."

    That's not solving the health care problem that is just throwing seniors to the wolves.

    While you article correctly points out this won't pass Congress, it is going to make for incredibly powerful ad for the general election campaign. And for that, I thank Paul Ryan and any Republican stupid enough to expose his intentions against seniors before the election.

    "CBO states Paul Ryan's budget would actually increase deficit in first ten years

    Continue reading on Examiner.com CBO states Paul Ryan's budget would actually increase deficit in first ten years - National Political Buzz | Examiner.com CBO states Paul Ryan's budget would actually increase deficit in first ten years - National Political Buzz | Examiner.com
    Last edited by Catawba; 03-25-12 at 08:48 PM.
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by haymarket View Post
    We all can bitch and whine about the other guy not paying enough. Lets stop the whining and bitching and all pitch in for heavens sake. Our grandkids will thank us for it.
    I already pay more federal income taxes than millions and millions of people who demand more government. I want less government. when those who want more start paying their fair share maybe I can see your point

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    do you support more and more taxes on the rich if you thought it could pay down the deficit?
    No, all we need to do is return to the progressive tax rates of the 90s, cut our military spending, increase the cap on SS, and upgrade our health care system as the rest of the industrialized world has done.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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