The Obama Budget: A Return to Equality »
Posted By Radiofreeeuropa 8 months, 1 week ago in Political NewsThe Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government.
-- Patrick Henry
The beginning of fairness and, the end of "voodoo economics".
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Radiofreeeuropa
All progress comes from unreasonable people.
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Radiofreeeuropa8 months, 1 week ago
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Reagan's own David Stockman admitted he was surprised anyone bought the whole supply side barnacle, and that it was a Trojan horse. There are simply a contingent that worships blind authoritarianism, If some clown with sand between his ears drools on his navel authoritatively, they follow like lemmings.
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"A shoe, A shoe, drool on the shoe...it's a sign!"-
libsRfunnyComment removed: Hard Banned4 Replies
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CHAM8 months, 1 week ago
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A most interesting article. And the graph of the income inequality is so graphically telling.
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PR I have been writing about income inequality, I often refer to it as wealth distribution, and write of the train wreck it will and is causing.
The Right spell that Republicans who were enamored of Bush and everything Republican refuse to do any research and look at the damage caused by Bush and his predecessors.
But if they will just take a look at the graph and take notice of what has occurred when the inequality got beyond a threshold, maybe then they might decide to be American first and party supporter somewhere down the line.
The distribution is now in the 5/95 range and trending worse. When it passed thru the 10/90 point every one should have become alarmed. However, you have to give the Right credit, their PR machine is powerful and most damaging - convincing to their faithful. -
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Radiofreeeuropa8 months, 1 week ago
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Even though 95% of the citizens have lost ground in favor of the 5% gaining dramatically. The spin machine will claim returning to a fair approach is "communist", The truth is they have unlimited wealth to blow buying up media to convince you to fight against your own interests. Don't be fooled.
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These people are complaining about the "right" to cheat. To use their marked cards and loaded dice. Nothing more.-
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beavith18 months, 1 week ago
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thing is, 'wealth' is not unlimited. its an integral part of the aggregate economy.
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we, as a people, can tax, fee or otherwise confiscate the work of the fortunate/hard working/smarter members of our society.
we do that at our collective peril.
when being lucky, committed, more intelligent gets 'special treatment,' that is get stuck working for or paying more than the people around them, that's when they'll start playing games.
you and the left can go on commenting on how unfair life is, but its a fact OF life.
Ayn Rand is right. in both senses of the word.
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slate8 months, 1 week ago
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Ah trickle up poverty will work? Let's see 2% of Americans already pay 50% of the taxes, yeah those are the people we need to go after so their numbers dwindle so they can then claim the rest of us are wealthy and tax us out of existence as the next step to have a country comprised of only serfs.
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quackpot8 months, 1 week ago
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It is sad when things have gotten to the point where just 2% of Americans control so much of the wealth that they are just about the only ones left that can afford to pay taxes.
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The poor have no money with which to pay taxes, and Regan/Bush/Bush have so decimated the middle class that there aren't many left to contribute. -
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rimbaud8 months, 1 week ago
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When you give money to poor people, all they do is spend it and they are back where they started (and so are you... money wasted). When you give money to rich people, they invest it and create jobs for poor people. It's not necessary for those poor people to be employed in the USA, though... wherever those investments pay off, the profits come home to the "ownership society" (those smart-enough or rich-enough to invest). In fact, most rich people would rather have Mexican construction workers than lazy ass American union members, who feel entitled to health and retirement benefits from their employers, and they would rather have Indian technical workers and Asian laborers.
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frctm58 months, 1 week ago
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If 2% can afford to pay 50% and still be the top 2%, some how I think we should not worry about them. I think they're doing just fine. If anything, your argument only reinforces the idea that we should have a more progressive income tax.
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libsRfunnyComment removed: Hard Banned7 Replies
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UncontrollableScaldingDiarrhea8 months, 1 week ago
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A return to equality? This budget is like handing an anchor to someone in need of a life preserver.
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ObamaCo's numbers take into account the most rosy projections. If those projections don't materialize, we will be even further in the hole than Obama is telling you about.
Wake up, America.-
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nostalgia8 months, 1 week ago
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Have you looked at the actual predictions in the Obama budget?
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The budget projects an economic contraction of 1.2% in calendar 2009 and growth of 3.2% in 2010.
The plan anticipates an acceleration of growth to 4.0% in 2011 and 4.6% in 2012.
The assumptions are more optimistic than the projection of the Congressional Budget Office (CBO) of a 2.2% decline in gross domestic product in 2009 and 1.5% growth in 2010.
http://www.businessday.com.au/business/world-busin...
The GDP predictions for later years are even more bizarre - it assumes growth rates of more than 5 and 6% in 2011 and 2012 -
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MisterX8 months, 1 week ago
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Within the next two years everybody is going to pay higher taxes. If they keep to their plan, only those making $240k+ will pay more "income" tax. Everybody will pay more taxes on food, transportation, utilities, you name it. Oh yeah, how about the carbon taxes and contributions pledged to the UN to assist underdeveloped and poor countries (I think .07% of the GNP)? Are these being considered as well?
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Those making $240+ are usually businesses that contribute to the livelihoods of others.
Not to go conspiracy theory, but 9/11 happened just a few months after Dubbya began draining the government surplus through massive tax rebate checks to the people. All that money could have been a security blanket for us, such as savings would be to a family.
You can't fill a bath tub by running the spigot and keeping the drain open at the same time!
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amazed8 months, 1 week ago
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((But just remember, it was 30 years of lower taxes on the rich -- and fewer regulations on their financial shenanigans -- that got us into this mess in the first place. The only thing that will get us out of it will be tax breaks targeted to and investments in the things that help the other 95% of the population. As the song says, This Land Is Your Land!))
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That's one take on it -- but, there's also the argument that the lower taxes didn't do the deed, but many government policies that rewarded avarice, as well as rewarding those who concentrated on their short term results and gains at the expense of long term soundness of policy, and especially the outright protection of large investors and capitalist types from the consequences of their actions -- the "too big to fail" doctrine that started with the LAST financial meltdown -- remember the S many years ago?
And for about the 5,689th time, under Bush's tax cuts, the lowest earners were removed from the income tax rolls completely -- a 100% tax cut, the lowest bracket was changed from 15%-10% and adusted upward (significantly) a tax cut of AT LEAST 50%, those in the highest bracket had their marginal rate cut from 39% to 34% (a 5% cut) while most of the deductions that they could previously take -- personal exemptions, child credits (oops, they weren't there before Bush either) are phased out, and of course there is the good old AMT.
But, yeah, tax cuts for the wealthiest are the entire cause of this latest debacle. -
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lloydm658 months, 1 week ago
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You poor sad little people you just don't understand,the federal government doesn't have any money,so where can you get a check on Friday except from employers.You are right,capitalism is an unequal distribution of wealth,at the same time socialism is the equal distribution of poverty.lord help the stupid people who drink Obama's kool ade
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frctm58 months, 1 week ago
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Here's the funny thing about the supply siders. During Bush's presidency, wages for middle class Americans remained flat or declined. Tax cuts did not benefit them. The only thing which insulated the middle class from their lack of vertical mobility was their rising home values and stock portfolios. So, if we blame the Democrats for the housing bubble than we must acknowledge there was no recovery under Bush for working Americans since it was based upon inflated equity and easy credit. In other words, the middle class was already in decline, they just didn't know it yet. Now you can't possibly defend Bush's economy and blame the housing crisis for our current ruin without contradicting yourself. If the housing crisis caused the collapse of the economy, than the economy was already screwed up and it was just a matter of time before the illusion was destroyed.
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