Harry Reids tax grab

Obama to Insist on Tax Increase for the Wealthy : Videos

Romney To Obama: Saying Ill Cut Wealthys Taxes Like Lies Of My Five Boys Romney To Obama: Saying Ill Cut Wealthys Taxes Like Lies Of My Five Boys During Wednesday night's first presidential debate, Mitt Romney challenged an assessment made by President Barack Obama that his tax plan ... Rated: 4.3846154     Duration: 80 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 03 Oct 2012 18:56:24 PDT	Supporters of Tax Increase on Rich Dont Know What Rich Are Currently Paying MRCTV 07112012 Supporters of Tax Increase on Rich Dont Know What Rich Are Currently Paying MRCTV 07112012 Courtesy of MRCTVone "While Barack Obama and others insist that the rich should pay their "fair share" in taxes, it seems that even ... Rated: 5     Duration: 275 seconds     Video type: YouTube     Hosted by: www.youtube.com on Fri, 13 Jul 2012 05:02:01 PDT	LIVE: John Boehner: Taxes on Wealthy Slow Economy - Fiscal Cliff Must be Averted Nov. 9, 2012 LIVE: John Boehner: Taxes on Wealthy Slow Economy - Fiscal Cliff Must be Averted Nov. 9, 2012 Boehner Hopes 2013 will finally be the year for a grand bargain on spending and debt. House Speaker John Boehner on Friday dug in on not raising ... Rated: 2     Duration: 652 seconds     Video type: YouTube     Hosted by: www.youtube.com on Fri, 09 Nov 2012 08:54:12 PST	The Obama Files: Spreading the Wealth Through Taxes The Obama Files: Spreading the Wealth Through Taxes As a skilled rhetorical magician, Obama presents himself as a tax-cutter. Even though hes voted dozens of times to raise taxes, he assures ... Rated: 2.7446809     Duration: 113 seconds     Video type: YouTube     Hosted by: www.youtube.com on Tue, 21 Oct 2008 07:21:56 PDT
Supporters of Tax Hikes on Rich Dont Know What The Rich Are Paying Supporters of Tax Hikes on Rich Dont Know What The Rich Are Paying Supporters of Tax Increase on Rich Don't Know What Rich Are Currently Paying While Barack Obama and others insist that the rich should pay ... Rated: 5     Duration: 252 seconds     Video type: YouTube     Hosted by: www.youtube.com on Sun, 15 Jul 2012 09:01:35 PDT	Obama: Dont Extend Tax Breaks for Wealthiest Obama: Dont Extend Tax Breaks for Wealthiest Politically weakened but refusing to bend, President Barack Obama insisted Wednesday that Bush-era tax cuts be cut off for the wealthiest ... Rated: 3.8571429     Duration: 128 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 08 Sep 2010 14:55:29 PDT	Debt Ceiling Crisis is a Sham, According to Yves Smith Debt Ceiling Crisis is a Sham, According to Yves Smith Republicans want to cut benefits for the elderly and poor, while insisting on a huge cut in the top marginal tax rate. Apparently, the deficit ... Rated: -1     Duration: 507 seconds     Video type: YouTube     Hosted by: www.youtube.com on Sun, 24 Jul 2011 23:06:37 PDT	Obama Hits GOP On Taxes But... Obama Hits GOP On Taxes But... New TYT Network channels: www.youtube.com www.youtube.com New TYT Facebook Page(!): www.facebook.com Subscribe to the FREE Video Podcast on iTunes ... Rated: 4.8905983     Duration: 365 seconds     Video type: YouTube     Hosted by: www.youtube.com on Fri, 10 Sep 2010 19:38:07 PDT
President Obama on Tax Cuts and Unemployment Extension President Obama on Tax Cuts and Unemployment Extension The President makes a statement to the press after reaching an agreement with Congress to extend tax cuts for all Americans while also extending ... Rated: 3.9106028     Duration: 584 seconds     Video type: YouTube     Hosted by: www.youtube.com on Mon, 06 Dec 2010 17:13:58 PST	Grover Norquist| Puppet President| Mitt Romney| Paul Ryan| President 2012| Obama Grover Norquist| Puppet President| Mitt Romney| Paul Ryan| President 2012| Obama walv.in At a time when taxes are at 50 year lows and the country at large is suffering. After decades when the wealthy have seen their incomes ... Rated: 4     Duration: 115 seconds     Video type: YouTube     Hosted by: www.youtube.com on Thu, 18 Oct 2012 17:49:24 PDT	Obama signs 858 Billion Dollar tax deal Friday December 2010 Obama signs 858 Billion Dollar tax deal Friday December 2010 President Barack Obama plans to sign an $858 billion tax deal into law on Friday afternoon. The House of Representatives gave final approval late ... Rated: 3     Duration: 294 seconds     Video type: YouTube     Hosted by: www.youtube.com on Fri, 17 Dec 2010 07:31:02 PST	Morning Meltdown 7-11-11 Morning Meltdown 7-11-11 couldn't move ahead with a $4 trillion deal because President Obama was insisting on a $1 trillion tax increase, and the White House quickly ... Rated: 4.25     Duration: 369 seconds     Video type: YouTube     Hosted by: www.youtube.com on Mon, 11 Jul 2011 09:11:02 PDT
9 things the rich dont want you to know about taxes; Is 30 years of failure enough? 9 things the rich dont want you to know about taxes; Is 30 years of failure enough? www.blogtalkradio.com www.platformforthefuture.com.main http The Stench of Truth (433).mp4 Thanks to Christopher Knowles for clueing me to this ... Rated: 4.5657144     Duration: 1101 seconds     Video type: YouTube     Hosted by: www.youtube.com on Thu, 14 Apr 2011 16:31:04 PDT	Rep Levin on Tax Reform Rep Levin on Tax Reform Yesterday, Speaker Boehner put forward what he calls "a two-step approach to hold President Obama accountable." Under that proposal, the ... Rated: 5     Duration: 167 seconds     Video type: YouTube     Hosted by: www.youtube.com on Tue, 26 Jul 2011 09:28:32 PDT	Taxes Higher Under Reagan Or Obama? Taxes Higher Under Reagan Or Obama? Cenk Uygur explains how taxes were actually much higher under president Ronald Reagan compared to today under president Barack Obama. On Facebook ... Rated: 4.8273382     Duration: 454 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 01 Jun 2011 21:58:38 PDT	President Obama Speaks on Middle Class Tax Cuts President Obama Speaks on Middle Class Tax Cuts President Obama urges Congress to get to work on extending and expanding the payroll tax cut, which will help put more money in the pockets of ... Rated: 2.7276595     Duration: 460 seconds     Video type: YouTube     Hosted by: www.youtube.com on Mon, 05 Dec 2011 12:08:21 PST
Warren Buffet: Raise My Taxes, Im Rich! Warren Buffet: Raise My Taxes, Im Rich! Warren Buffet, one the richest men in the world, wrote a New York Times piece where he argues that the rich need to pay more taxes. Cenk Uygur ... Rated: 4.935524     Duration: 608 seconds     Video type: YouTube     Hosted by: www.youtube.com on Mon, 15 Aug 2011 21:55:29 PDT	Obama Uncensored: Rightwing Centrist Tax Cut Plan? Obama Uncensored: Rightwing Centrist Tax Cut Plan? "In an astounding interview with the Des Moines Register this week, President Obama suggested that if re-elected, he will move sharply to the ... Rated: 4.8628974     Duration: 413 seconds     Video type: YouTube     Hosted by: www.youtube.com on Thu, 25 Oct 2012 20:45:33 PDT	Paying income tax in America is Voluntary Paying income tax in America is Voluntary When you can't dazzle them with brilliance, baffle them with bullshit. Idiot Harry Reid maintains that paying income tax is voluntary in the ... Rated: 4.7801075     Duration: 271 seconds     Video type: YouTube     Hosted by: www.youtube.com on Tue, 01 Apr 2008 10:23:20 PDT	Video 3 Mitt Romney and Barack Obama Presidential Debate President Video 3 Mitt Romney and Barack Obama Presidential Debate President Mitt Romney, at the first presidential debate Wednesday night, adamantly rejected President Obama's repeated charge that he wants to implement ... Rated: 4.5     Duration: 718 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 03 Oct 2012 19:15:43 PDT
Video 5 Mitt Romney and Barack Obama Presidential Debate Video 5 Mitt Romney and Barack Obama Presidential Debate Mitt Romney, at the first presidential debate Wednesday night, adamantly rejected President Obama's repeated charge that he wants to implement ... Rated: 4.4285712     Duration: 307 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 03 Oct 2012 19:36:23 PDT	Video 1 : Debate Between Mitt Romney and Barack Obama DEFICIT Video 1 : Debate Between Mitt Romney and Barack Obama DEFICIT Debate Between Mitt Romney and Barack Obama deficit Mitt Romney, at the first presidential debate Wednesday night, adamantly rejected President ... Rated: 4.3882351     Duration: 883 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 03 Oct 2012 18:49:25 PDT	Video 2 : Medicare: First Presidential Debate Mitt Romney and Barack Obama Video 2 : Medicare: First Presidential Debate Mitt Romney and Barack Obama Mitt Romney, at the first presidential debate Wednesday night, adamantly rejected President Obama's repeated charge that he wants to implement ... Rated: 4.6363635     Duration: 839 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 03 Oct 2012 19:05:43 PDT	Video 4 Mitt Romney and Barack Obama Presidential Debate Video 4 Mitt Romney and Barack Obama Presidential Debate Mitt Romney and Barack Obama Debate # 4 Mitt Romney, at the first presidential debate Wednesday night, adamantly rejected President Obama's ... Rated: 4.2     Duration: 862 seconds     Video type: YouTube     Hosted by: www.youtube.com on Wed, 03 Oct 2012 19:31:21 PDT

Obama to Insist on Tax Increase for the Wealthy : Photo Gallery

Obama insists on tax hike for rich as part of fiscal deal ... Obama insists on tax hike for rich as part of fiscal deal ... Obama insists on tax hike for	The reality of class warfare in America - Worldnews. The reality of class warfare in America - Worldnews. Supporters of Tax Increase on	Debt Super Committee | Fox News Insider Debt Super Committee | Fox News Insider President Obama reassured	Barack Obama insists on tax hike for rich as part of fiscal deal ... Barack Obama insists on tax hike for rich as part of fiscal deal ... insisted a tax increase
With His Deficit And Tax Plan, Obama Pleases Critics On Left | The ... With His Deficit And Tax Plan, Obama Pleases Critics On Left | The ... By insisting on tax increases	Breaking News, Business News, Financial and Investing News & More ... Breaking News, Business News, Financial and Investing News & More ... Obama insists on tax hike for	Business News - Indian Stock Market, Stock Market News, Business ... Business News - Indian Stock Market, Stock Market News, Business ... Obama insists on tax hike for	MRCTV Originals | MRCTV MRCTV Originals | MRCTV Supporters of Tax Increase on
Tax Hike Ultimatums Sink The Super Committee | Liberty Works Tax Hike Ultimatums Sink The Super Committee | Liberty Works They continue to insist on	2012-11-09T201928Z_2_CBRE8A81 ... 2012-11-09T201928Z_2_CBRE8A81 ... Obama insists on tax hike for	Obama says tax hike on rich should be part of fiscal deal - AM 590 ... Obama says tax hike on rich should be part of fiscal deal - AM 590 ... Obama says tax hike on rich	Time to get back to work, rich need to pay more tax: Barack Obama ... Time to get back to work, rich need to pay more tax: Barack Obama ... insisted a tax increase
Obama sticks to guns on tax increase for wealthiest Americans ... Obama sticks to guns on tax increase for wealthiest Americans ... Obama and the Democrats go	Obama Insists He Wants Debt Deal That Includes Tax Hikes… | Weasel ... Obama Insists He Wants Debt Deal That Includes Tax Hikes… | Weasel ... left out tax increases.	Barack Obama's delusions—Rich Lowry - NYPOST. Barack Obama's delusions—Rich Lowry - NYPOST. Instead, Republicans insist on	The Democrats' Big Lie About Taxing the Wealthy - The Daily Beast The Democrats' Big Lie About Taxing the Wealthy - The Daily Beast “Why should the rich object to
I THINK HE MEANS ALL OF US........NO EXCEPTIONS .... I THINK HE MEANS ALL OF US........NO EXCEPTIONS .... I THINK HE MEANS ALL OF US........NO EXCEPTIONS ....	Peter Max: John Lindsay in the Ken C. Arnold Art Collection, signed by artist 1970 Peter Max: John Lindsay in the Ken C. Arnold Art Collection, signed by artist 1970 Peter Max: John Lindsay in the Ken C. Arnold Art Collection, signed by artist 1970	The election of Obama would, at a stroke, refresh our countrys spirit The election of Obama would, at a stroke, refresh our countrys spirit The election of Obama would, at a stroke, refresh our countrys spirit	Obama insists on tax hike for rich as part of fiscal deal Obama insists on tax hike for rich as part of fiscal deal WASHINGTON (Reuters) - President Barack Obama said on Friday he was prepared to compromise with Republicans to avert a looming U.S. fiscal calamity, but insisted a tax increase for the rich must be part of any bargain. Obama, who was re-elected on ...
Obama insists on higher taxes for US richest as part of avoiding looming ... Obama insists on higher taxes for US richest as part of avoiding looming ... Republicans want the approach to avoiding the fiscal cliff to rely on spending cuts, but Obama insists that higher taxes for the wealthy must be part of the solution. "We can't just cut our way to prosperity," the president said. Obama reminded his ...	Blunt, Republicans sound firm on blocking tax hike for wealthy Blunt, Republicans sound firm on blocking tax hike for wealthy Victorious President Barack Obama stuck to his guns this afternoon, asserting at the White House that he will insist on pressing for “the wealthiest Americans to pay a little more in taxes." “On Tuesday night," the president added, "we found out that ...	Obama: Compromise_ but not on tax cuts for rich Obama: Compromise_ but not on tax cuts for rich WASHINGTON (AP) — An economic calamity looming, President Barack Obama on Friday signaled willingness to compromise with Republicans, declaring he was not "wedded to every detail" of his tax-and-spending approach to prevent deep and widespread pain in ...	Today's Buzz: Who can save us from the fiscal cliff? Today's Buzz: Who can save us from the fiscal cliff? The fiscal cliff is a reference to spending cuts and tax increases that will automatically go into effect at the beginning of the year unless Congress and the president take action. Obama has insisted any deal must include tax increases on the wealthy ...
wistv.com - Columbia, South Carolina |Obama: Compromise_ but not on tax cuts ... wistv.com - Columbia, South Carolina |Obama: Compromise_ but not on tax cuts ... wistv.com - Columbia, South Carolina |Obama: Compromise_ but not on tax cuts for rich. SITE SEARCH WEB SEARCH BY Google ..... About 60 percent of voters said in exit polls Tuesday that taxes should increase, either for everyone or those making over ...	Obama calls for wealthy to pay more in taxes, says election showed nation ... Obama calls for wealthy to pay more in taxes, says election showed nation ... President Barack Obama, laying down his marker for grueling budget and tax negotiations, said Friday he won't accept any approach to deficit reduction that doesn't ask the wealthy to pay more in taxes. (Nov. ... Speaker John Boehner insisted that ...	Ryan to middle class: Obama tax hike coming to you Ryan to middle class: Obama tax hike coming to you Vice President Joe Biden says the only way to pay for Romney's plan is to raise middle-class taxes. He says Republicans insist on needless tax cuts for the rich and are holding hostage middle-class tax cuts that Obama wants to make permanent. end of ...	Obama sets White House meeting on fiscal cliff Obama sets White House meeting on fiscal cliff WASHINGTON (WLS) - President Obama invited Congressional Republicans and Democrats to the White House next week to begin talks to resolve the country's impending fiscal crisis, but he insisted on raising taxes on the wealthiest. "I'm not wedded to ...
CBO lays out options on fiscal cliff CBO lays out options on fiscal cliff The CBO warning comes as President Obama, Senate Democrats and House Republicans are girding for a huge negotiation over spending and tax policy in the coming lame-duck session of Congress. Pressure on Washington ... Boehner reiterated his stance in an ...	PRECIOUS-Gold posts weekly gain on US fiscal crisis concern PRECIOUS-Gold posts weekly gain on US fiscal crisis concern The metal erased early gains on Friday after U.S. President Barack Obama's insisted that tax hike for the very rich must be part of the bargain to prevent a fiscal crisis, as some investors worried such tax increase would hurt the overall economy ...	Harry Reid's tax grab Harry Reid's tax grab Because on Wednesday he insisted that President Obama's narrow victory proves Americans favor tax hikes, particularly on the “wealthy,” as part of any plan to address massive US deficits. Taxes on “the wealthy” are the first refuge of Democratic ...	CEOs back Obama's tax increase plan to help lower deficit CEOs back Obama's tax increase plan to help lower deficit A coalition of corporate chieftains has delivered a tacit endorsement of President Barack Obama's call for tax increases to fix the deficit, repudiating Republican nominee Mitt Romney's assertion that the U.S. fiscal mess can be solved without new ...
Fiscal cliff: Impasse on tax rates is big hurdle Fiscal cliff: Impasse on tax rates is big hurdle WASHINGTON (AP) — House Republicans' hard line against higher tax rates for upper-income earners leaves re-elected President Barack Obama with a tough, core decision: Does he pick a fight and risk falling off a "fiscal cliff" or does he rush to ...	Will Taxes Be Sticking Point in Debate Over How to Tackle Federal Budget? Will Taxes Be Sticking Point in Debate Over How to Tackle Federal Budget? But he and House Speaker John Boehner both insisted they'd hold firm on whether or not to raise taxes on the wealthy. Here are excerpts from the ... Business will know that consumers, they're not going to see a big tax increase. They'll know that most ...	Election behind him, Obama to talk "fiscal cliff" Election behind him, Obama to talk "fiscal cliff" The CBO analysis says the cliff -- a combination of automatic tax increases and spending cuts -- would cut the deficit by $503 billion through next September, but that the fiscal austerity would cause the economy to shrink by 0.5 percent next year and ...

Obama to Insist on Tax Increase for the Wealthy : Latest News, Information, Answers and Websites

Economy Could Tip Back Into Recession on Washington Impasse, Budget Office Says

WASHINGTON -- The economy could relapse into a recession if President Obama and Congress remain at an impasse and allow several big tax increases and spending cuts to take effect at the start of 2013, the Congressional Budget Office reported on Tuesday. The nonpartisan budget office analyzed the impact of what has come to be called the year-end - Congressional Budget Office reports that the economy could relapse into a recession if Pres Obama and Congress remain at an impasse and allow several big tax increases and spending cuts to take effect at the start of 2013. (M)l - By JACKIE CALMES

Obama takes key battlegrounds to win re-election - CNN.com

2 days ago ... President Barack Obama rode a wave of broad support from minorities, women ... insist on at least the wealthy paying a higher income tax rate.

Do republicans really believe that slashing welfare while eliminating taxes on the wealthy will fix the USA?

Answer: There is no plan to eliminate taxes for the wealthy. That is just left wing distortion of the truth. The truth is, Reagan cut taxes for everyone and then Bill Clinton passed the largest tax increase in US history, (not counting Obamacare, which is even bigger). George Bush cut taxes back to more reasonable levels but Democrats insisted that the cuts be temporary. They are now scheduled to expire at the end of this year. Obama wants to renew these Bush tax cuts but only for those making less than 250,000/year. Republicans want to extend the Bush tax cuts for everyone. If this happens, the rich will pay the same as before. There is no proposed new tax cut for the rich. Republicans believe that allowing the Bush tax cuts to expire for the rich will further damage the economy while handing more money to the government. If this is not true then we need to hear your proof that it is false. We also need to hear your argument as to how giving more money to the government is a good idea. Please hurry up and explain these things. I really want to know.
Category: Politics

What are the presidential candidate platforms in a nutshell?

Like what are the biggest things in each platform of each candidate?
Answer: Obama has proposed a program of infrastructure projects to provide employment and stimulate the economy. This is pure Keynesian economics along the line of the New Deal programs in the 1930s under Franklin Delano Roosevelt and the Interstate Highway program of Dwight Eisenhower. He proposes to pay for this as well as reducing the deficit by increasing income taxes for higher income brackets and removing the exemption for capital gains. He has dealt with foreign policy issues by trying to convince the rest of the world we are not trigger happy cowboys while carefully disengaging from the wars we cannot afford to pay for. He supports public health care reform. Romney wants the government to do nothing about the economy but remove taxes from corporate profits and private investment income. He insists that when the wealthy have more money to spend they will create jobs while doing it, the tricle down effect. He also opposes any government regulation of the market. Romney also supports overturning Roe v. Wade and outlawing abortion for any reason. He has supported efforts to defund Planned Parenthood because they provide birth control services as well as preventive tests for thirty five percent of American women. Romney has supported state initiatives to redefine life as the moment of conception, which would outlaw the birth control pill that is taken by ninety percent of American women at some point in their life. Romney has supported the union busting legislation in Wisconsin and Indiana. He is opposed to the health care reforms that were based on a law he wrote himself. Basically his campaign amounts to, "I am extremely wealthy and that means I am smarter than Obama".
Category: Elections

NEWS ANALYSIS; Coming: Taxmageddon

WASHINGTON ON Jan. 1 of next year, the federal tax bill for a typical middle-class household -- making in the neighborhood of $50,000 -- is scheduled to rise by about $1,750. This increase, which would come from the expiration of both the Bush tax cuts and the Obama stimulus, would follow a decade of little to no income growth for many people. As a - News analysis; expiration of the Bush tax cuts, the end of the Obama stimulus and mandated spending cuts will make January 1, 2013, an economic nightmare for middle-class families; they could see their inflation-adjusted after-tax income fall to 1998 levels unless a lame-duck Congress and Pres Obama, either re-elected or defeated, can agree on an alternative. Charts, Drawing (L) - The Washington bureau chief of The New York Times. - By DAVID LEONHARDT

Obama says budget deal must include higher taxes on the wealthy ...

7 hours ago ... WASHINGTON – President Obama said Friday he was open to compromise with Republicans to prevent automatic tax increases and spending ... to insist on a resolution that includes higher taxes for the wealthiest Americans.

How did FDR help failing companies?

Which of FDRs alphabet programs helped failing companies?
Answer: It is not widely taught that Herbert Hoover launched the impulse that would slowly turn around the Great Depression (why do we have the Hoover Dam, for example?). FDR expanded the initiative. With respect to failing businesses, the Reconstruction Finance Corporation, resuscitated by Hoover, played a central role in rescuing banks and private companies. See http://en.wikipedia.org/wiki/Reconstruction_Finance_Corporation: "The Reconstruction Finance Corporation spent $1.5 billion in 1932, $1.8 billion in 1933, and $1.8 billion in 1934...The total loaned or otherwise disbursed by the RFC from 1932 through 1941 was $9.465 billion.[1] ... Hoover's reasons for his surprising reorganization of the RFC included:...the failure of banks to perform their duties to their clientele or to aid American industry...(Shriver 1982) The RFC was bogged down in bureaucracy and failed to disburse much of its funds. It failed to reverse the growth of mass unemployment before 1933. Butkiewicz (1995) shows that the RFC initially succeeded in reducing bank failures, but the publication of the names of the recipients of loans beginning in August 1932 (at the demand of Congress) significantly reduced the effectiveness of its loans to banks because it appeared that political considerations had motivated certain loans. Partisan politics thwarted the RFC's efforts, though in 1932 monetary conditions improved because the RFC slowed the decline in the money supply. Starting in 1933, Franklin Delano Roosevelt kept the agency, increased the funding, streamlined the bureaucracy, and used it to help restore business prosperity, especially in banking and railroads. He appointed Texas banker Jesse Jones as head, and Jones turned RFC into an empire with loans made in every state. (Olson 1988) The RFC also had a division that gave the states loans for emergency relief needs. In a case study of Mississippi, Vogt (1985) examined two areas of RFC funding: aid to banking, which helped many Mississippi banks survive the economic crisis, and work relief, which Roosevelt used to pump money into the state's relief program by extending loans to businesses and local government projects...the agency made positive contributions and established a federal agency in local communities which provided a reservoir of experienced personnel to implement expanding New Deal programs." Investment must be in human capital, productivity, and--geographically--in the US. Bailing out banks and other funds that specialize in speculation and outsourcing is doomed to failure from the perspective of all but the wealthiest Americans responsible for the economic collapse. To the extent that the portfolios of such banks, funds, etc., consist of assets essential to the health of the company, the bailout money should be directed to people capable of repaying their loans. For instance, the recent bailouts under GWB and Obama, had they benefited directly the people who were underwater in their loans but still capable of paying them once out of the crisis, would have rescued the loan holders from the default of the mortgagors and prevented millions of foreclosures. The collapse in home ownership and home values would not have been nearly as severe had people been able to keep their homes. Similar logic won the day under Hoover and FDR,. However, the duration of the Great Depression and the time it took to rebuild our economy (greatly accelerated by defense spending in WWII and by the dependence on us of countries that had to rebuild after the war) is a warning to those who still insist not that investment in our own infrastructure and human capital but that cutting spending on the needs of people in great suffering (while increasing debt through tax cuts and subsidies to the wealthy) is the solution.
Category: Government

what does this article mean?

**sorry for the long article...could you just tell me what its saying? Washington (CNN) -- A consensus may be forming on President Barack Obamas plan to extend Bush-era tax cuts to everyone but the nations richest people. On Sunday talk shows, Obamas economic advisers touted the idea while the top Republican in the U.S. House said he would vote for it if no other option existed. The Bush tax cuts enacted in 2001 and 2003 cover all taxpayers and are scheduled to expire at the end of the year. Obama and congressional Democrats want to keep in place those tax cuts that apply to Americans earning less than $250,000 a year. People earning more than that would have their rates restored to higher levels in place before the tax cuts were enacted. Speaking on "CNNs Fareed Zakaria GPS," former Obama budget director Peter Orszag said the tax cuts have to go at some point in order to balance the federal budget. "We, unfortunately, cant afford the tax cuts over the medium and long-term," Orszag said. Ending all of the Bush-era tax cuts would "pretty much" solve the deficit problem in the medium term, he added. Video: Obama pushes for tax relief RELATED TOPICS Barack Obama Economic Policy John Boehner Tax Policy Republicans and some Democrats oppose the plan, saying that what amounts to a tax increase in a weak economy would deter economic growth by hindering investment and spending by wealthy Americans and small businesses. House Minority Leader John Boehner, R-Ohio, told the CBS program "Face the Nation" that he wanted the tax cuts extended to all Americans, not just those earning less than $250,000 a year. However, if Obama and congressional Democrats push through their plan, Boehner said he would vote for it. "If the only option I have is to vote for those at $250,000 and below, of course Im going to do that," Boehner said. "But Im going to do everything I can to fight to make sure that we extend the current tax rates for all Americans." White House Press Secretary Robert Gibbs later reacted to Boehners comment with a dose of caution. "We welcome John Boehners change in position and support for the middle class tax cuts, but time will tell if his actions will be anything but continued support for the failed policies that got us into this mess," Gibbs said in a statement. Austan Goolsbee, the new head of Obamas Council of Economic Advisers, said Boehners comment showed a growing realization that action is needed on the issue of whether to extend the tax cuts. "If hes truly saying that we can, as the president called for, get a broad consensus to extend the middle-class tax cuts, we should do it," Goolsbee said on the ABC program "This Week." A broad consensus exists for a "middle ground" approach "that Democrats and Republicans, business people and workers can agree on to get ... the economy growing faster," Goolsbee said. At the same time, Goolsbee insisted Obama was not open to an extensive negotiation over the tax cut extension issue. "He said we will be open for discussion," Goolsbee said of Obama, noting "it was literally in a sentence where he said we should all be able to agree that what would give some certainty to the economy now would be extending the middle class tax cuts permanently." Boehner argued that extending the tax cuts would inspire confidence among businesses and consumers to spur investment and spending. At the same time, he said, cutting government spending will help narrow the budget deficit. "If we cut spending, we will help our economy, we will send signals to the markets, we will send signals to the business community, that Washingtons attempting to get its fiscal house in order," Boehner said. To David Axelrod, Obamas senior adviser, such GOP policies were what got America into the worst recession since the Great Depression in the first place. "That agenda was a disaster," Axelrod said on the NBC program "Meet the Press," later adding: "We dont want to go back to the same practices and the same policies that drove our economy into a ditch."
Answer: i really doubt anyone is going to read this, sorry.
Category: Current Events

Would this improve the job development picture in the US?

The Republicans continue to push for the wealthy at a high cost to the average American. Even the most wealthy in our nation support added taxes on the wealthy. Why does the Republicans insist we can not increase taxes on the Wealthy, What if Obama repealed only half of the Bush tax cuts on the most wealthy with a warning that if jobs are not created by the first of 2012 he will repeal the other half - would that push the Republicans and wealthiest Americans to start investing in job creating ventures?
Answer: Trickle down economics is a scam that conservatives never seem to catch on to..Bush tax cuts produced ZERO net jobs under Bush, so the republicans told Obama last december- "we promise if extend them, they will create jobs" so he did, and they didnt...now they say.."we cant create jobs because of too much regulation" another 10 years will go by before conservatives figure out THAT lie
Category: Politics

Obama: 'Open to compromise' but firm on tax increases for wealthiest

President says he is not 'wedded to every detail of my plan' but insists he wants to raise taxes for wealthiest Americans. Barack Obama used his first public appearance since his return to the White House to issue a challenge ...

A MEASURE OF CHANGE; Obamas Deficit Dilemma

WASHINGTON -- President Obama was backstage at an auditorium at George Washington University last April preparing to give a major speech, when William M. Daley, then his chief of staff, spied an unexpected guest in the audience: Representative Paul D. Ryan, the Republican chairman of the House Budget Committee, whose budget plan Mr. Obama was about - Pres Obama opted not to endorse proposals of the Simpson-Bowles commission, a panel he created, but later adopted many of them in a modified form, a sign of his larger struggle with the politics of deficit reduction; story of how Obama dealt with deficit commission shows how those struggles have curbed his ambitions and forced him to confront the limits of his persuasive powers (Series: A Measure of Change). Chart, Photos (L) - By JACKIE CALMES

Obama sticks to guns on tax increase for wealthiest Americans ...

8 hours ago ... But he insisted that tax increases on the wealthiest Americans must be part ... In a statement at the White House, Obama indicated he will meet ...

Obama, (and his supporters) will you accept this offer from McCain?

McCain has just invited Obama to travel around the US to have townhall meetings. The WAY TO GO towards national unity and healing? I think so. Sometimes McCain surprises even me. Pleasantly, I have to add. Hey Left Avenger: Considering that I have had that face for close to 3 years, I think I got there first. (This is my 3rd account) BTW, I look a tad more thoughtful and intelligent than you. Lol!
Answer: McCain surprises me too: •Like the way he slams Obama by saying he wants to negotiate with Hamas, when two years ago McCain himself proposed and advocated the idea. •The way he has flipped on telecom immunity. •The way he was for normalization of relations with Cuba but now says he never had that stance. •The way he proposed divesting from Iran like it was his idea last night, but last year he voted against legislation proposing the same thing authored by Obama and Brownback. •How in 1998, he championed raising cigarette taxes to fund programs to cut underage smoking, insisting that it would prevent illnesses and provide resources for public health programs. Now, McCain opposes a $0.61-per-pack tax increase, won’t commit to supporting a regulation bill he’s co-sponsoring, and has hired Philip Morris’ former lobbyist as his senior campaign adviser. •How his campaign unveiled a Social Security policy that the senator would implement if elected, which did not include a Bush-like privatization scheme. In March 2008, McCain denounced his own campaign’s policy. •In February 2008, McCain reversed course on prohibiting waterboarding. •McCain was a co-sponsor of the DREAM Act, which would grant legal status to illegal immigrants’ kids who graduate from high school. Now he’s against it. •McCain used to champion the Law of the Sea convention, even volunteering to testify on the treaty’s behalf before a Senate committee. Now he opposes it. •McCain went from saying he would not support repeal of Roe v. Wade to saying the exact opposite. •McCain went from saying gay marriage should be allowed, to saying gay marriage shouldn’t be allowed. •McCain criticized TV preacher Jerry Falwell as “an agent of intolerance” in 2002, but then decided to cozy up to the man who said Americans “deserved” the 9/11 attacks. •McCain used to oppose Bush’s tax cuts for the very wealthy, but he reversed course in February. He said in 2005 that he opposed the tax cuts because they were “too tilted to the wealthy.” By 2007, he denied ever having said this. •McCain supported a major campaign-finance reform measure that bore his name. In June 2007, he abandoned his own legislation. •To hear John McCain tell it, Barack Obama is irresponsible for his willingness to engage a state sponsor of terror like Iran. But, as it turns out, McCain supported engagement with Syria, despite his belief that the country is a state sponsor of terroris. •John McCain, still hoping to shore up the Republican Party’s far-right base, spoke to the National Rifle Association of America’s annual meeting in Kentucky. Earlier in his career he had this to say about the NRA: “The NRA is entitled to their advocacy. I don’t think they help the Republican Party at all, but I don’t think they should in any way play a major role in the Republican Party’s policy making.” And yet, McCain now feels comfortable pretending to be a champion of the Second Amendment, and a long-lost friend of the National Rifle Association. • “I would seek to establish an international repository for spent nuclear fuel that could collect and safely store materials overseas that might otherwise be reprocessed to acquire bomb-grade materials. It is even possible that such an international center could make it unnecessary to open the proposed spent nuclear fuel storage facility at Yucca Mountain in Nevada.” - John McCain, 5/27/08. Except, three weeks earlier McCain “supports the Yucca Mountain storage facility and believes opposition to it is harmful to U.S. interests.” “The political opposition to the Yucca Mountain storage facility is harmful to the U.S. interest and the facility should be completed, opened and utilized.” When will the media point out all of these missteps? McCain's campaign is so confused they don't know which way is up. First they try to pander to the hard core neocons and religious right then they do an about face and try to court independent voters, contradicting themselves the entire time. And all the while they paint McCain as a straight talking maverick candidate who stands firmly in his beliefs and doesn't shift with the winds like other politicians....
Category: Elections

LETTERS; Reviews of the Presidents Big Night

To the Editor: Re Character, Not Audacity (column, Sept. 7): David Brooks suggests that the speakers at the Democratic National Convention offered no audacious new and big ideas. Are immigration reform, the Dream Act, investment in infrastructure, investment in public education standards and teachers, investment in research, a balanced

Are citizens getting another stimulus check in 2010?

Ive only heard a RUMOR(and from one person I might add.) that citizens will be receiving a stimulus check for 2010 like we did in I think 2008. Can anyone confirm?
Answer: Not every American citizen received a stimulus check in 2009. Instead, 95% of working Americans received a TAX CUT for their salaries if they made less than $250,000 a year, effective April 1, 2009. The only Recovery and Reinvestment Act of 2009 "stimulus" check was for $250, and this money was sent to senior citizens and disabled veterans in order to encourage spending as a way of getting the economy to grow from the ground up (demand-side economics to reverse the shrinkage caused by the disasterous supply-side/"trickle-down" of the GOP). There was zero inflation (upon which increases in Social Security or VA Disability payments are based) because Fed Chairman Bernanke has kept national interest rates at near zero to prevent any inflation while the extra dollars are beginning to circulate, so neither seniors or disabled veterans received a cost-of-living increase for 2010. President Obama asked Congress to consider a one-time-only distribution of another $250 check to these two groups from the remaining half (around $390 billion) of the original $787 billion appropriated, set for later this year, but so far no final decision has been made. Our deficit is down 8% under the Obama administration (Reuters, Washington Post, April 2010) after paybacks from 14 of the 400 bailed out banks that netted a return of $181 BILLION by December (bankers didn't like having their salaries and bonuses limited as the Democrats had set into place...lol). Also, GM has paid back another $8.1 BILLION a full five years earlier than planned---also dollars to be deducted from our nation's deficit. If this trend continues and our economy continues to expand from measures already in place thanks to President Obama and the Democrats, use of the second half of the Recovery dollars (the $390 BILLION) may not even be necessary, at least not in full, so these monies will also be returned to Treasury. However, if job growth remains sluggish, then the remaining Recovery Act dollars may be put to use (i.e,. with a $250 payment to seniors and disabled veterans) to further stimulate sustained growth. When Bush/Cheney issued their "stimulus" in 2008 to attempt to curtail the financial fiasco, this was NOT paid for and merely added to the other unfunded mandates (Medicare Part D, tax cuts for the wealthy, reduced-to-0-tax on derivatives which bankrupted some states but let Wall Street and banks make HUGE OBSCENE gains, and the "No Child Left Behind" mess). President Obama has insisted on a "Pay-Go" rule for bills passed that Democrats in the House and Senate all supported without ONE Republican vote), which means any appropriated dollars (i.e., for a Bush/Cheney-type "stimulus") must be fully paid for by OFFSETS elsewhere in the budget), so my guess is that unless the second half of the 2009 Recovery Act dollars already appropriated is used, NO stimulus check is forthcoming other than the targeted one cited above.
Category: Government

Why does Big Media continue to insist that America is "center-right" when in reality ?

the American public is more progressive than publics of other nations... "On foreign policy, on economic policy, on social policy, on just about everything, its the progressive position that is more popular. The median voter in 2008 is pro-choice, supports civil unions for gay Americans (a position that seemed insanely radical only a decade ago), rejects the Bush foreign policy, supported the recent increase in the minimum wage, wants strong environmental protections, favors reasonable restrictions on gun sales, thinks the wealthy and corporations dont pay their fair share of taxes, and wants the government to guarantee universal health coverage." Paul Waldman Media Matters " As Democratic Landslide Looms, Big Media Try to Peddle More Right-Wing Nation B.S." Does this sound conservative to you? http://www.alternet.org/election08/104001/as_democratic_landslide_looms%2C_big_media_try_to_peddle_more_%27right-wing_nation%27_b.s./
Answer: It is well within the interests of the media to have people both within the Conservative heartland and also outside the US thinking that they public is far more conservative than we really are. They get great benefits from trickle down economics, loose regulations on content and licensing and free range on advertising products and services which are far from good for the public - alcohol and junk food for example!! It is within their interests to keep the most conservative government possible in power at all times. Small government equals big media. Who would you rather have controlling your information? People you elect? Or Rupert Murdoch et. al.?? But to be honest the "liberal" US public is very much to blame. You get the government you deserve, most of the time (Karl Rove notwithstanding) If only 25% of Americans bother to vote in most elections, if only 50% of Americans have ever voted!!! Well what standard of true representation is there? And what did we expect? In many other civilized nations voting is compulsory.In almost all countries it is considered a privilege not to be squandered. This means that ALL levels of society have to aquaint themselves with at least the basic tenets of their political landcsape once every three or four years. It might be a start here too!! At least Obama has galvanized a large section of that self-disenfranchised mass. But how many do you know who will be staying home on Nov 4th...esp if the weather is bad??? Perhaps we have had the right to vote too long to truly appreciate it. Funny how we are so willing to kill for the right of Iraqis and Afghans to vote....but so many can't be bothered to do it at home.
Category: Elections

Should Obama insist on half revenues increases and half spending cuts?

Answer: Well, he has, but that would cut into profits for Exxon and GE Electric and no one in America wants that, the thought that some hedge fund manager who makes over five billion dollars a year having to limit himself to, for example, six opulent mansions rather than a limitless number, that just goes counter to all of the teachings of Compassionate Christian Conservatism. Bear in mind that Jesus himself (supposedly) said, "you poor meek m---r f-rs are garbage, trash, pure sh^t, don't ya know you need to kneel down before the wealthy and the powerful." Actually by the REAL definition of Financial Conservatism, TAX INCREASES are mandatory, the only pure source of revenue increases and that means taxing everyone not just shifting the tax burden on the poorest of citizens. FINANCIAL CONSERVATIVES during the 1950s pushes tax rates to around 50 % (which I think is excessive) in order to raise revenue. Peace/////////////////\\\\\\\\\\\\\\\\\
Category: Politics

Back in December, when Obama agreed that it was a bad Idea to raise taxes on job creators, and agreed to a?

Two year continuation, did he not see this debt limit crisis coming then? Is he THAT incompetent? I will remind you that this all happened BEFORE the Republicans had control of anything.
Answer: Back in December Obama didn't want to even utter the words RAISE THE DEBT CEILING because it had already been raised 3 times in his first full year, this despite the fact that the ceiling was raised in the October before he took office so we had 4 increases in a span of 15 months. If you want to go back 18 months then you will find that the ceiling has been raised 5 times by the spend happy democrats, 6 times since they took control of congress 9/29/2007 --------- 110-91------------H.J.RES.43 (Start of 18 month period) 7/30/2008 --------- 110-289----------HR3221 Title III section 3083 10/30/2008 --------110-343----------H.R. 1424 (Raises while Obama was in office) 2/13/2009 ---------- 111-5------------HR1 Subtitle G section 1601 12/4/2009 ---------- 111-123---------H.R.4314 1/28/2010 ---------- 111-139---------H.J.RES.45 Now the bastard in chief wants to raise the debt ceiling for a 4th time. Dr Killpatient, like most of the liberals is completly ignorant of who got what in tax cuts. They insist that the cuts were for the rich when in FACT the top class fell into the middle of the pack in terms of percentage of tax savings. http://justgetitright.weebly.com/tax-cuts.html Margaritavilan seems to think that Obama has the power to simply invoke his own increase to the national debt limit. I would recommend that they read Article 1 Section 7 and 8 of the Constitution. ck4829 seems to think that a tax cut from 10 years ago will still be creating jobs, it might help in sustaining jobs but nothing will help after 4 years and $5.4 trillion of additional debt added during the 4 years that democrats controlled congress. Uhlan almost has a reasonable answer. I say almost because that middle class person that he is talking about that sees a need and acts on it. Well he needs money to start his business. Where exactly does the money come from? A bank, whose money is sitting in a bank that is then made available for lending purposes? How about a venture capitalist, are these ordinary middle class people or are they the wealthy that have the incentive to take risks because they have a slightly lower risk based on tax breaks. Thus far only Capitalism is Evil has come up with a reasonable response.
Category: Politics

Obama insists on tax hike for rich as part of fiscal deal – Reuters ...

CTV News Obama insists on tax hike for rich as part of fiscal deal Reuters Obama's first term – in his own words. Barack Obama's first term, won on a promise of hope and change, featured four years of sobering challenges ...

why do people blame Obama for the bad economy when it is the Tea Party that is responsible?

Joe the tornado Biden has made it OFFICIAL, its the Tea Partys fault that the economy is bad http://www.weeklystandard.com/blogs/biden-i-have-beautiful-home-you-pay-me-lot-money_645760.html
Answer: The economy was bad before Obama came around and the Tea Party isn't helping. People run around saying Obama increased the national debt to $16 trillion conveniently forgetting Bush left behind 10 trillion of it. And no money to spend so every dime spent has been a borrowed dime and the interest sure as hell is racking up..That is contributing further to the national debt. Meanwhile the Tea Party insists they are taxed enough as they line up for free emergency room visits, an overpriced military and medicare as well as roads and all the services they can get their hands on on. Without paying for any of it. I love when people say taxes take money away from the private sector. Do they think the public sector sits on it? A postal worker when he/she gets paid spends it like everyone else Doesn't that end up back in the private sector when they buy gas, groceries and other commodities? What the hell, government workers don't eat, shop or need a place to live? Republicans are hell bent on shrinking government to the point it can drown in a bathtub and then wonder why no one is buying anything. How is an unemployed postal worker or any unemployed public worker able to buy anything and drive the economy with no job or money? Fine the wealthy have tax cuts but it's obvious they're not helping unemployment. If it did the unemployment rate wouldn't be over 8%. It's obvious to all, the 1% lack the buying power to make a difference. There is but so much an individual can buy. So they bank the tax cuts getting wealthier. As for the middle income individuals still working. They can only buy but so much with the limited resources on hand. Of course all unemployed government workers and others are not buying anything at all. So you have a stalled or sluggish economy. With unemployment at 8% and a huge deficit as people line up at the emergency room for free treatment, an overpriced military and all the thing Americans don't want to pay for or government lack the resources to do so. Corporations are reporting record profits. In 2011 Exxon had a $41 billion profit. That's some trick considering people swear Obama is just so anti-business. Also taxes haven't been this low in decades. They can blame Obama all they want but it doesn't make it true.
Category: Politics

POLITICAL MEMO; Romney Facing Risks Left and Right

MANCHESTER, N.H. -- On the campaign trail, Mitt Romney casts himself as the guardian of American opportunity, who would stop President Obamas attempt to replace our merit-based society with an entitlement society. Mr. Romney draws inspiration from the countrys founders, he argues, while Mr. Obama seeks a European-style welfare state to - Political Memo; Mitt Romneys suggestion that he draws inspiration from the countrys founders while President Obama seeks a European-style welfare state, among other things, could be a risky comparison. Photo (M) - By JOHN HARWOOD

Why dont people realize both Reaganomics and Obamanomics are both garbage economic theories?

Instead of following the economic policies of all of his predecessors, which virtually remained unchanged, Reagan decided to try something new. 1981 Reagan signed legislation that would drastically reduce taxes for the wealthy and corporations. Following the tax cut, the deficit soared from 2.5 percent of GDP to over 6 percent, alarming financial markets, sending interest rates sky high, and culminating in the worst recession since the 1930s. He would not rescind the income tax cut, but other taxes were acceptable. In 1982, taxes were raised on gasoline and cigarettes, but the deficit hardly budged. In 1983, the president signed the biggest tax rise on payrolls, promising to create a surplus in the Social Security system, while knowing all along that the new revenue would be used to finance the deficit. Reagan dipped into Social Security funds extensively and now that system is nearly bankrupt. On the other extreme, there is Obama, who thinks he can tax everyone sky high and simultaneously spend hundreds of billions of dollars to somehow bring this country back intro prosperity. He wants the money to flow from the wealthy to the poor, while poor people do not spend money, so that money will not be going into investing in the economy. His theory is just as bad as Reagans. Why cant Obama try using Dwight D. Eisenhowers economic philosophy (rich are taxed higher than most other people, but at an amount that they can easily afford to pay and does not make them feel like they are being punished for being wealthy), for example, or virtually most of his predecessors besides Reagan, Bush 41, Clinton, and Bush 43? The four clowns we had before Obama all had pretty poor economic philosophies, so that is why I said they should be excluded. Well, I am not a Marxist, and not anywhere close (I am a moderate Republican). I think that being a Republican doesnt mean you have to support supply-side economics.
Answer: EVERY president starting with Carter has failed utterly to address the root cause of our economic decline. The USA was prosperous before Carter because we had a trade surplus. We were even a creditor nation before Carter. The USA lost its trade surplus to foreign competition in 1980, during the Carter years. That's what caused the "stagflation" and "economic malaise" of the Carter years. In fact, our prosperity had been winding down throughout the 1970's as our trade surplus diminished. Carter had no clue what to do, and the trade deficit escalated alarmingly. Reagan failed to act because he was from the generation that was permanently shellshocked by the Smoot Hawley tariff of 1930. Reagan TEMPORARILY boosted the economy with borrowed money, making the USA a debtor nation by 1988. But the hoped for recovery didn't last, and the mounting debt dragged us down like lions taking down a water buffalo. After Reagan, supply side economics mutated into the abomination of free trade. Bill Clitnon signed NAFTA and ushered in the "giant sucking sound" of jobs leaving the country. Bush did nothing to address the problem, like father like son. During the 2008 campaign, Obama specifically cited free trade as a cause of our unsustainable economy, and he blamed Republicans for it. But now that he is the president he is doing NOTHING about it. WE MUST END FREE TRADE NOW or we will become a third world nation. http://finance.yahoo.com/tech-ticker/the-u.s.-middle-class-is-being-wiped-out-here%27s-the-stats-to-prove-it-520657.html?tickers=^DJI,^GSPC,SPY,MCD,WMT,XRT,DIA The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it "the globalism and "free trade" that our politicians and business leaders insisted would be so good for us have had some rather nasty side effects. It turns out that they didn't tell us that the "global economy" would mean that middle class American workers would eventually have to directly compete for jobs with people on the other side of the world where there is no minimum wage and very few regulations. The big global corporations have greatly benefited by exploiting third world labor pools over the last several decades, but middle class American workers have increasingly found things to be very tough. Here are the statistics to prove it: • 83 percent of all U.S. stocks are in the hands of 1 percent of the people. • 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007. • 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans. • 36 percent of Americans say that they don't contribute anything to retirement savings. • A staggering 43 percent of Americans have less than $10,000 saved up for retirement. • 24 percent of American workers say that they have postponed their planned retirement age in the past year. • Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008. • Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975. • For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together. • In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one. • As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets. • The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth. • Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008. • In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector. • The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago. • In America today, the average time needed to find a job has risen to a record 35.2 weeks. • More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying. • or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011. • This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour. • Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years. • Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009. • The top 10 percent of Americans now earn around 50 percent of our national income. Giant Sucking Sound The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker 10 times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new "global" labor pool. "
Category: Politics

Why is Obama flip flopping on tax increases during a deep recession?

Obama is insisting on a trillion dollar tax increase, which will hit small businesses, low and middle class income as well as the wealthy before he makes a deal with the Republicans on the debt ceiling. In 2009 in an interview with NBC’s Chuck Todd Obama when he was asked "Explain how raising taxes on anyone during a deep recession is going to help with the economy.” To which Obama responded "Normally, you don’t raise taxes in a recession, which is why we haven’t and why we’ve instead cut taxes. You don’t raise taxes in a recession. We haven’t raised taxes in a recession.” Todd then reminded Obama that he had promised to raise taxes on “some of the wealthiest” Americans. “We have not proposed a tax hike for the wealthy that would take effect in the middle of a recession. Even the proposals that have come out of Congress – which by the way were different from the proposals I put forward – still wouldn’t kick in until after the recession was over. The last thing you want to do is raise taxes in the middle of a recession because that would just suck up – take more demand out of the economy and put business further in a hole.” So in 2009 raising taxes during a recession in bad but in 2011 its ok. Why is Obama flip flopping on tax increases during a deep recession? http://www.weeklystandard.com/blogs/obama-vs-obama_576524.html
Answer: It’s amazing to me that liberals don’t seem to understand that a tax increase on the wealthy will impact everybody. The wealthy provide jobs and are responsible for the majority of funds being invested in the Stock Market. If anybody thinks that raising taxes on the rich drastically like Obama is proposing will somehow benefit themselves or the economy, is delusional.
Category: Politics

LETTER FROM WASHINGTON; Republicans Ideology Dooms Deal on U.S. Debt

WASHINGTON -- Vice President Joseph R. Biden Jr., in the heat of the high-level budget deliberations, told Republicans that their intransigence over taxes was a matter of ideology, not economics. Its also about coalitions and contributors. Congressional Republicans rejected a grand-bargain deficit reduction plan that would have slashed spending, - By ALBERT R. HUNT | BLOOMBERG NEWS

Obama insists on tax hike for rich as part of fiscal deal | USWebDaily ...

4 hours ago ... WASHINGTON (Reuters) - Newly re-elected President Barack Obama said on Friday he was prepared to compromise with Republicans to avert ...

Obama insists on tax hike for rich as part of ... - Channels Television

Newly re-elected President Barack Obama said on Friday he was prepared to compromise with Republicans to avert a looming U.S. fiscal calamity but insisted a tax increase for the rich must be part of any bargain. Obama ...

Obama insists on higher taxes for US richest | Lansing State Journal ...

6 hours ago ... Obama insists on higher taxes for US richest ... combination of automatic tax increases and spending cuts would cut the massive U.S. deficit by ...

Do you hope President Obama succeeds in restoring slightly higher taxes on the very rich?

In his State of the Union address this year, and on other occasions, Obama has indicated hes willing to make some deep cuts in federal social spending on the poor, the middle class and the very young -- but at the same time, hes insisted that meaningful deficit reduction is impossible without some increases in the income tax rates for the richest 2.5% of Americans. Do you agree with Obama on this point, or disagree? And why do you feel as you do?
Answer: Yes. I agree with Reagan's ex-Budget Director David Stockman that the Bush tax cuts did not pay for themselves. I also agree with the CBO that extending the tax cuts on the wealthiest Americans is a very poor investment, bring in forty cents in revenue per dollar of tax cut. *** "We don't have a tax problem. We have a spending problem". We have both. (Great answer, "Ohhhbother").
Category: Politics

Can any of you real Obama supporters give me real and honest reasons why you support him and his policies? ?

I really am looking for a real answer. If there any any true supports of him, there should be at least one of you who can give a true and honest answer. Or is it that you are all following him blindly. For those who answered honestly, thank you.
Answer: Taxes: McCain's tax cuts will benefit everyone, but will benefit the wealthiest the most. Obama will increase taxes on anyone making over $250,000 a year, but increase tax cuts for the middle and lower class- sognificantly more so than McCain would. All those campaign ads about how Obama would raise taxes for EVERYBODY? Lies, and McCain insists on continuing to run them. Both tax cuts will lead to large increases in the national debt, but Obama less so than McCain. Veteran's Issues: McCain, despite being a vet himself, has a much poorer voting record on veteran's issues than Obama. Not everyone can be the son and grandson of admirals and marry a beer heiress. (source: Project VoteSmart). Women's Issues: McCain did not support an equal pay for equal work bill. Obama did. McCain has also shifted right to support overturning Roe v. Wade. Obama does not support overturning Roe v. Wade. I support a woman's right to choose. Therefore, I support Obama. Energy: McCain's all of the above energy policy? So far just seems to be increased drilling. McCain and Obama’s positions on energy are not too different. Both support clean coal, both support increased nuclear, and both support more clean technology and renewable and alternative sources of energy. Yet, Obama is the candidate who has come out in support of a bipartisan energy plan that would allow for some coastal states to have the option to drill while also repealing tax breaks for oil companies, creating a “broad package of tax credits for renewable energy”, and ramp up the investment in cleaner-burning vehicles and coal-to-liquid fueled plants. McCain, on the other hand, is coyly “waiting to see legislative language before taking a position.” (The Hill) Drilling won’t solve every problem, but it may solve even less than you think. The Energy Information Administration’s analysis says the expansion of offshore drilling in the lower 48 (note: that does exclude Alaska) will not have any significant effect on the amount of oil on the market. The US Department of Mineral Management estimates that 86 billion barrels of oil remain undiscovered offshore, of that, 79% is estimated to be in areas where there are no restrictions on drilling. The remaining 21% estimated to be off limits would constitute 18 billion barrels of oil, 2.4 years worth at current American consumption rates. (Note: US Dept of Mineral Mgmt’s estimate includes Alaska.) There is nothing to ensure that the 2.4 years worth of oil would even remain in America to be used. According to a UK Reuters analysis: “A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department. The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling.” Europeans pay much more for oil than Americans do, so, sensibly, American oil companies want to export oil to Europe. But it does not make sense for America to encourage an environmentally dangerous practice that will take years to fully implement and will result in very limited benefits. Obama is the candidate most willing to work towards compromise on this very important issue, and, to me, also has the more comprehensive energy plan. Also, McCain has come out as being the much stronger advocate for nuclear power. That's great; I like nuclear. However, this fiscal conservative neglects to mention that nuclear power plants cost ten billion dollars each. The total money he could expecto save a year from cutting out all earmarks (not really a smart idea, see here: http://www.slate.com/id/2199757/) 16 billion a year. Yeah. That's gonna work. Note also that the president does not have, and McCain would be unlikely to get, the line item veto necessary to carving out every earmark in the budget. The Supreme Court ruled a presidential line item veto unconstitutonal in 1998, and, unless McCain truly intends to completely gridlock Washington and further expand the already overexpanded powers of the executive, he's not gonna follow through on all his earmark reform rhetoric. Obama also has the more intelligent foreign policy and education plans. He also picked a veep that could actually do the job, unlike McCain whose Palin pick was extremely cynical and dangerous. I also supprt Obama's position on gay rights and civil rights. McCain has also increasingly shown himself to be a liar and an opportunist- even for a politician. Unfortunately, there seems to be a character limit. So I can't talk about all that.
Category: Elections

Obama insists on tax hike for rich as part of fiscal deal – Reuters

Obama insists on tax hike for rich as part of fiscal deal. Reuters Obama's first term – in his own words. Barack Obama's first term, won on a promise of hope and change, featured four years of sobering challenges including the ...

why does everyone always say obama is going to raise taxes on everyone?

because most of you are going to be getting a larger tax cut from him than even mccain would give
Answer: Where do you think the money is going to come from for all his programs? He never stated most would be getting a larger tax cut. He stated that people making over $250k a year and above would be taxed more, and people under that, their taxes would not be increased and MAY be a little lower. I don't understand why everyone insists they will be lower, when that is not what was said. I also don't understand why people think it is ok to tax those making over $250k a year, more. Anyone making $250k a year is comfortable, certainly not wealthy, and the truly wealthy people already pay over 50% of the taxes so why should they be hit even more. ***
Category: Elections

Obama insists on tax hike for rich as part of fiscal deal | Reuters

3 hours ago ... WASHINGTON (Reuters) - President Barack Obama said on Friday he was prepared to compromise with Republicans to avert a looming U.S. ...

UPDATE 6-Obama insists on tax hike for rich as part of fiscal deal ...

Obama says approach is supported by Tuesday's election. * Says he's “not wedded to every detail” of his own plan. * Republican leader Boehner urges Obama to lead. By Mark Felsenthal and David Lawder. WASHINGTON ...

Obama calls on House to pass tax hikes for wealthy - Ohio High Forums

obama insists on tax increases for the wealthy. His conciliatory tone lasted 24 hours, then the radical community activist re-remerged.

Editorial: Cut a deal to dodge 'fiscal cliff - The Orange County Register

Before the election, the Republican majority in the U.S. House of Representatives insisted on no new taxes. But President Barack Obama and the Democratic majority in the Senate demanded tax increases on the "wealthy" ...

LETTER FROM WASHINGTON; Skimping on Budget Specifics

WASHINGTON -- You wouldnt hire a C.E.O. to run a troubled company if they wont tell you how theyre going to fix the major problem, says Maya MacGuineas , president of the Committee for a Responsible Federal Budget. Yet that is exactly whats occurring with the most important chief executive job in the world: U.S. president. Either Barack - By ALBERT R. HUNT | BLOOMBERG NEWS

Obama says taxes on the wealthy must rise - tonight Newspaper

T.O.night Newspaper reports Obama, flush with victory, says taxes on wealthy Americans must be hiked. ... But he insisted that tax increases on the wealthiest Americans must be part of any deal. He also wants to reach a ...

G.O.P. Lawmakers And Romney Face A Delicate Tango

WASHINGTON -- If Mitt Romney is considering a quick pivot to the center as he heads into the general election, he will find an imposing impediment: fellow Republicans in the House. As Congress was set to reconvene on Monday, House Republicans said Mr. Romney could go his own way on smaller issues that may help define him as separate from his - Mitt Romney and House Republicans diverge on some legislative issues, and Republican lawmakers have said that they will tolerate differences on more minor issues as long as Romney understands that they are driving the partys policy agenda; Romneys campaign has set up meetings with House members in order to ensure that the party acts in lock-step to defeat Pres Obama. Photos (M) - By JONATHAN WEISMAN and JENNIFER STEINHAUER

Fiscal cliff diving | Keith Hennessey

But aside from this statement, he does not insist that tax rates on the rich pay more. He also ... Obama: higher taxes on the rich + spending cuts + spending increases ==> faster economic growth + higher revenues from the rich ...

Boehner Wants to 'Come to Grips' With Deficit in 2013 - ABC News

9 hours ago... same no tax increase for the wealthy the Republican Party has insisted on ... Boehner's statement comes hours before President Obama is ...

Parties See Few Barriers To Extending Cut in Tax

WASHINGTON -- With both parties largely in agreement on a yearlong extension of President Obamas payroll tax cut, the fight in Congress over the coming weeks will boil down to how to pay for it, and Democrats appeared to hold the advantage as members of the House returned to Washington on Tuesday. Senior Democratic aides say they are entering the - Both parties have given ground in Congresss fight over a yearlong payroll tax deal, but how to pay for it remains a thorny question; finding more than $160 billion in savings may prove more troublesome than leaders let on, and that might be only a starting point. Chart (M) - By JONATHAN WEISMAN

Obama Grasping Centrist Banner In Debt Impasse

WASHINGTON -- President Obama made no apparent headway on Monday in his attempt to forge a crisis-averting budget deal, but he put on full display his effort to position himself as a pragmatic centrist willing to confront both parties and address intractable problems. At a news conference preceding the latest round of debt-reduction talks with - Pres Obama makes no apparent headway in his attempt to forge crisis-averting budget deal; puts on full display his effort to position himself as pragmatic centrist willing to confront both parties and address intractable problems; says he will not accept temporary agreement to kick problem down the road a few weeks or months; photo (M) - By JACKIE CALMES

Obama to Insist on Tax Increase for the Wealthy - New York Times: Globe and MailObama to Insist on Tax Increase ... http://t.co/mxGEGlRP
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