View Poll Results: Obama Tax Supporters=What is more Important to You

Voters
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  • Saving the tax cuts for yourself (and the rich)

    1 6.25%
  • Sticking it to the rich with a tax hike for everyone

    15 93.75%
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Thread: Obama Tax supporters=what is more important to you

  1. #191
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by Catawba View Post
    Cite where wasteful military spending is authorized in the Constitution?





    That is an opinion only held by the far right. The majority of the country and its rule of law have determined that SS and Medicare are Constitutional.

    But don't let the rule of law get in the way, only lawyers and those concerned with upholding the law need concern themselves with the rule of law.
    the majority are pawns of rich elitists of both parties. the dems tend to manipulate them better because rich dems have less principles-such as whining about the rich in order to become rich through the government

    as to your first point-military spending is authorized

    welfare socialism is not

  2. #192
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by Neomalthusian View Post
    Knew those were first on your list. So, what's next?
    Naturally, as they are the most wasteful. Next I would re-institute the Glass-Steagall Act to prevent future bailouts of banks too big to fail, then I would upgrade our health care system to UHC thereby cutting future health care costs in half, then I would increase the FICA Cap from $106,000 to $180,000 fixing social security for the long term. Then I would look at increasing minimum wage to a living wage as an alternative to welfare for all those except the disabled.
    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

  3. #193
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by Aberration View Post
    Commodities Futures Modernization Act 2000
    Financial Services Modernization Act of 1999
    That's part of the financial deregulation over the last 30 years, here is the rest:

    "1978, Marquette vs. First of Omaha – Supreme Court allows banks to export the usury
    laws of their home state nationwide and sets off a competitive wave of deregulation,
    resulting in the complete elimination of usury rate ceilings in South Dakota and Delaware,
    among others.

    1980, Depository Institutions Deregulation and Monetary Control Act – Legislation
    increases deposit insurance from $40,000 to $100,000, authorizes new authority to thrift
    institutions, and calls for the complete phase-out of interest rate ceilings on deposit
    accounts.

    1982, Garn-St. Germain Depository Institutions Act – Bill deregulates thrifts almost
    entirely, allowing commercial lending and providing for a new account to compete with
    money market mutual funds. This was a Reagan administration initiative that passed with
    strong bi-partisan support.

    1987, FSLIC Insolvency – GAO declares the deposit insurance fund of the savings and
    loan industry to be insolvent as a result of mounting institutional failures.

    1989, Financial Institutions Reform and Recovery Act – Act abolishes the Federal Home
    Loan Bank Board and FSLIC, transferring them to OTS and the FDIC, respectively. The
    plan also creates the Resolution Trust Corporation to resolve failed thrifts.

    1994, Riegle-Neal Interstate Banking and Branching Efficiency Act – This bill
    eliminated previous restrictions on interstate banking and branching. It passed with broad bi-
    partisan support.

    1996, Fed Reinterprets Glass-Steagall – Federal Reserve reinterprets the Glass-Steagall
    Act several times, eventually allowing bank holding companies to earn up to 25 percent of
    their revenues in investment banking.

    1998, Citicorp-Travelers Merger – Citigroup, Inc. merges a commercial bank with an
    insurance company that owns an investment bank to form the world’s largest financial
    services company.

    1999, Gramm-Leach-Bliley Act – With support from Fed Chairman Greenspan, Treasury
    Secretary Rubin and his successor Lawrence Summers, the bill repeals the Glass-Steagall Act
    completely.

    2000, Commodity Futures Modernization Act – Passed with support from the Clinton
    Administration, including Treasury Secretary Lawrence Summers, and bi-partisan support in
    Congress. The bill prevented the Commodity Futures Trading Commission from regulating
    most over-the-counter derivative contracts, including credit default swaps.

    2004, Voluntary Regulation – The SEC proposes a system of voluntary regulation under
    the Consolidated Supervised Entities program, allowing investment banks to hold less capital
    in reserve and increase leverage.

    2007, Subprime Mortgage Crisis – Defaults on subprime loans send shockwaves
    throughout the secondary mortgage market and the entire financial system.

    December 2007, Term Auction Facility – Special liquidity facility of the Federal Reserve
    lends to depository institutions. Unlike lending through the discount window, there is no
    public disclosure on loans made through this facility.

    March 2008, Bear Stearns Collapse – The investment bank is sold to JP Morgan Chase
    with assistance from the Federal Reserve.

    March 2008, Primary Dealer Facilities – Special lending facilities open the discount
    window to investment banks, accepting a broad range of asset-backed securities as collateral.

    July 2008, Housing and Economic Recovery Act – Provides guarantees on new
    mortgages to subprime borrowers and authorizes a new federal agency, the FHFA, which
    eventually places Fannie Mae and Freddie Mac into conservatorship.

    September 2008, Lehman Brothers Collapse – Investment bank files for Chapter 11
    bankruptcy.

    October 2008, Emergency Economic Stabilization Act – Bill authorizes the Treasury to
    establish the Troubled Asset Relief Program to purchase distressed mortgage-backed
    securities and inject capital into the nation’s banking system. Also increases deposit
    insurance from $100,000 to $250,000.

    Late 2008, Money Market Liquidity Facilities – Federal Reserve facilities created to
    facilitate the purchase of various money market instruments.

    March 2009, Public-Private Investment Program – Treasury Secretary Timothy Geithner
    introduces his plan to subsidize the purchase of toxic assets with government guarantees."

    https://docs.google.com/viewer?a=v&q...6rfWQaVZCdB-dQ
    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

  4. #194
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by TurtleDude View Post
    the majority are pawns of rich elitists of both parties. the dems tend to manipulate them better because rich dems have less principles-such as whining about the rich in order to become rich through the government

    as to your first point-military spending is authorized

    welfare socialism is not
    You failed to cite where wasteful military spending is authorized under the Constitution as you previously claimed. Please try again!
    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

  5. #195
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by Catawba View Post
    You failed to cite where wasteful military spending is authorized under the Constitution as you previously claimed. Please try again!


    the constitution does not specify and you know it

    but military spending is allowed

  6. #196
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by TurtleDude View Post
    the constitution does not specify and you know it

    but military spending is allowed
    Defense spending only is allowed, there is nothing that allows wasteful spending by the military to increase world hegemony for the benefit of the wealthy, as you suggest it does.
    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

  7. #197
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by Catawba View Post
    Defense spending only is allowed, there is nothing that allows wasteful spending by the military to increase world hegemony for the benefit of the wealthy, as you suggest it does.
    you have any citations supporting that idiocy and who decides if it is wasteful?

  8. #198
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by TurtleDude View Post
    you have any citations supporting that idiocy and who decides if it is wasteful?
    the GOP is notorious for pushing through money for DOD projects that the DOD itself doesn't want and considers to be a waste.

  9. #199
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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by Thunder View Post
    the GOP is notorious for pushing through money for DOD projects that the DOD itself doesn't want and considers to be a waste.
    there is some truth to that-some of it involves paying off contractors of powerful politicians

    but its not near the waste that the stuff that has no proper constitutional basis racks up

  10. #200
    Sage

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    Re: Obama Tax supporters=what is more important to you

    Quote Originally Posted by TurtleDude View Post
    I will try to explain it to you so you can understand

    what drives the deficit? it is too much spending
    One would have thought that a fancy Ivy league institution would have had access to books where they explained that a budget had two sides. An imbalance in that budget could then be attributed to both sides.

    Perhaps Yale is not quite cracked up to what it claims to be?
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