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Posted by: Blackacereturn 1 year, 9 months ago
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Blackacereturn1 year, 9 months ago
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All this does is serving as evidence that the RIGHT of this nation has lost their collective minds. We are staving off a depression and recession but we shouldn't increase the taxes, are you kidding me?
Tell me please where will the money come from, are we going to borrow more from China?
I am so glad this is the last time I will have to endure this idiot, and I hope that our nation comes to their senses and make it the last time we have to endure the republican congress person that aided and abided Bush in this destruction of our nation.
They don't get it, they were awful, terrible, the worse ever, and they were barley better than a dictator in a third world country. Hugo Chavez out governed these idiots...Look you know things are bad when you have to ask if Rove stills works for the president, he has been in hiding!
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amazed1 year, 9 months ago
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cosmogenium1 year, 9 months ago
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We wouldn't be in a recession if your party hadn't caused it by borrowing like crazy in the first place.
And I remember a full-page add in the NYT taken out by 12 nobel-laureate economists saying that the Bush tax-cuts were the wrong thing to do.
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StarLord1 year, 9 months ago
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Normally, a tax-cut is not a bad thing. However, there are three reasons for this recession (that may exist - quarterly figures aren't out yet for successive quarters of recession):
1. Injudicious tax cuts. Fiscal policy is a good lever to use to prevent an overheated (and inflationary) economy, and thus as a recession preventative. Bush's tax cuts abrogated this vital economic function of the government.
2. Insufficient regulation. The sub-prime crisis (credit crisis) has been caused by lack of regulation on lending bodies, which has allowed them to greedily lend sums of money which could not be repaid by the borrowers. The borrowers are hardly blameless, but it is easier to regulate corporations than individuals. Also, a little regulation regarding wages and working conditions wouldn't go astray.
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StarLord1 year, 9 months ago
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3. "Trickle-down" economics doesn't work. Any healthy economy is fueled by healthy consumption patterns at the lower end of the spectrum (i.e, the lower-paid people). Giving the rich money simply ensures that they will invest it overseas, where it can't be taxed. This fails to benefit the economy. Perhaps, in the days prior to globalisation taking hold, the theory might have worked. But not now. Allowing employers to squeeze every last penny out of the working poor to pay bigger dividends to the rich doesn't help the fabric of your economy. Too many people have forgotten that economics is a cross between commerce and social science. The economy is not, in the final analysis, a set of abstact numbers - it is a living, breathing entity.
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Blackacereturn1 year, 9 months ago
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Look, Clinton fixed it and he did so by raising taxes. Here is where clinton went in the correct direction he also cut spending...Under clinton we had the lease amount of money ever spent on defence by a present day president. Before you say it, we were still the strongest army in the world,
it was during this time the Europeans estimate that if all of europe came up against the US they would lose in an all out war. And Clinton spent 50 billion a year on the armforces.
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