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Thread: GOP plan to extend tax cuts for rich adds $36 billion

  1. #401
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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Conservative View Post
    Do your own research, your link will provide you with enough information to prove that Clinton lied again. Apparently like all liberals you ignore that the National Debt is comprised of Public Debt and intergovt. holdings. Clinton paid down the public debt by using SS revenue from intergovt. holdings raising that debt so the combined is more each year and thus no pay down of the debt.

    Even your information refutes Clinton's statement. Let's see if you can figure out yet that Clinton and the Democrats have made a fool out of you?

    In other words what you posted is bull*** as usual…noted.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by donc View Post
    In other words what you posted is bull*** as usual…noted.
    If I posted bs so did you. Your site doesn't show a surplus and apparently you don't understand the debt and deficit. That is ok since most liberals don't understand it either. You can bait me all you want, doesn't work. Clinton lied, your site shows it and now you divert from it. Let's see you do creative math on the Obama 3 trillion deficits.

    By the way, you seem to not understand that the fiscal year of the U.S. is October to September, not January to January.

    Here is the link for the yearly debt both Public and Intergovt. holdings

    http://www.treasurydirect.gov/govt/r...ebt_histo4.htm

    http://www.treasurydirect.gov/govt/r...t/histdebt.htm


    Now are you going to admit that Clinton lied to you and the public?
    Last edited by Conservative; 08-22-10 at 10:08 PM. Reason: Added link

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by donc View Post
    Nah, you call and tell them that treasury direct (one of your links ) that they are posting wrong data. While you at it tell them that that the President of the United States is wrong as well, for telling CNN “that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.”

    September 27, 2000
    Web posted at: 4:51 p.m. EDT (2051 GMT)
    WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.
    Donc, show me the page number of the U.S. Treasury site or any other credible site that shows this surplus that Clinton claimed and you along with the other liberals including the media bought?

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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by Conservative View Post
    Oh, don't be so hard on yourself. The first step to a cure though is admitting you have a problem. I keep waiting for you to answer the question, why do you care how much the rich pay in taxes? Also noticed you didn't respond to the article I posted showing that 47% of the people don't pay any taxes yet no outrage on your part?
    What is the reason they paid no taxes. I did notice in that MS Excel worksheet that .2% of those people making $10 Million or more paid no income tax. I didn't mention it earlier.


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    Re: Dem vs Rep Tax Cut Plan in Graph form!

    Quote Originally Posted by TurtleDude View Post
    If you don't believe Obama appeals to class warfare you are ignorant.

    I don't know how you define rich and maybe you refer to someone like Bill Gates or the Waltons

    I refer to those who are going to bear the brunt of the Obama-Dem-CLinton tax hikes and that is people making 200k to 2 mllion a year. They are the ones who are -in most cases-going to have to make lifestyle changes if all these tax hikes take place.

    many of those people are going to see taxes go up 15-25% and if you are mainly getting your income from investments-your taxes could well double.
    Show me da numbers.


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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Conservative View Post
    If I posted bs so did you. Your site doesn't show a surplus and apparently you don't understand the debt and deficit. That is ok since most liberals don't understand it either. You can bait me all you want, doesn't work. Clinton lied, your site shows it and now you divert from it. Let's see you do creative math on the Obama 3 trillion deficits.

    By the way, you seem to not understand that the fiscal year of the U.S. is October to September, not January to January.

    Here is the link for the yearly debt both Public and Intergovt. holdings

    Government - Historical Debt Outstanding - Annual 1950 - 1999

    Government - Historical Debt Outstanding – Annual


    Now are you going to admit that Clinton lied to you and the public?
    I believe your explanation of total debt and intergovernmental holdings to be accurate and we can take the Treasury numbers as accurate too.
    What these charts tell me is that during the later Clinton years the debt increased little, almost flattened out, and that the budget was near balanced. Is this in dispute?
    Last edited by Opteron; 08-23-10 at 03:51 AM.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Opteron View Post
    I believe your explanation of total debt and intergovernmental holdings to be accurate and we can take the Treasury numbers as accurate too.
    What these charts tell me is that during the later Clinton years the debt increased little, almost flattened out, and that the budget was near balanced. Is this in dispute?
    Clinton had a GOP Congress so the question is did Clinton sign bills with higher or lower spending than he proposed? Clinton benefited from the dot.com bubble but when it burst the economy tumbled and he left us a recession.

    Now can I ask why we are reliving the Clinton/Bush Presidencies when the current President has added 3 trillion to the debt in two years and 4 million to the unemployment roles?
    Last edited by Conservative; 08-23-10 at 10:02 AM.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    The tax cuts for the wealthy must be extended. Rumor on the street has it that Obammer and the Dems are going to pass a major tax cut for the middle class in October. I'll bet you can figure out why.

    It wouldn't look good to delete the wealthy tax cut before granting the new one for the working people.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Mickey Shane View Post
    The tax cuts for the wealthy must be extended. Rumor on the street has it that Obammer and the Dems are going to pass a major tax cut for the middle class in October. I'll bet you can figure out why.

    It wouldn't look good to delete the wealthy tax cut before granting the new one for the working people.
    Now that isn't going to make a lot of liberals here very happy.

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    Re: GOP plan to extend tax cuts for rich adds $36 billion

    Quote Originally Posted by Opteron View Post
    I believe your explanation of total debt and intergovernmental holdings to be accurate and we can take the Treasury numbers as accurate too.
    What these charts tell me is that during the later Clinton years the debt increased little, almost flattened out, and that the budget was near balanced. Is this in dispute?
    It is literally impossible for debt held by the public to go down (as it did during the later clinton years) and to have a budget deficit. The government cannot borrow on behalf of itself. The intergovernmental holdings are debts to other programs. It basically takes money that has been garanteed to be used in that program (like SS) and puts it into the general fund for spending. This once again can only happan if the program (like SS for example) has a surplus in the first place.

    There was a budget surplus and as a result explicit debt went down. Implicit debt increased due largely to the nature of the SS trust fund.

    Debt held by the public:
    09/30/1998 3,733,864,472,163.53
    09/30/1999 3,636,104,594,501.81
    09/29/2000 3,405,303,490,221.20
    http://www.treasurydirect.gov/NP/NPGateway

    The largest driver of changes in intragovernmental holding is the SS Trust funds.
    Keep in mind my earlier comment about surpluses in SS and increases in intragovernmental
    holdings.

    SS Trust Fund Balance

    OASI Fund

    Calendar Total Total
    year receipts expenditures
    1998 424,848 332,324
    1999 457,040 339,874
    2000 490,513 358,339

    DI Fund

    Calendar Total Total
    year receipts expenditures
    1998 64,357 49,931
    1999 69,541 53,035
    2000 77,920 56,782

    Old-Age, Survivors, and Disability Insurance Trust Funds

    Calendar Total Total
    year receipts expenditures
    1998 489,204 382,255
    1999 526,582 392,908
    2000 568,433 415,121

    http://www.ssa.gov/OACT/STATS/index.html
    Last edited by drz-400; 08-23-10 at 08:20 PM.

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