My point was - is - and remains - that the "poor" not only do not pay net taxes, but they get money directly from the government in the form of things like the EITC. If you deny this you are simply denying reality...If you wish to continue your class warfare, you will have to choose another line of attack if you are actually in search of the truth. Because the truth is the poor don't pay taxes...Case closed.

What you are doing are looking at taxes paid and not net taxes. This is intentionally deceptive on your part.

Single person earns $10,294. This figure is exactly the poverty threshold which was defined by the U.S. Census Bureau in 2006. This year, that amount would be taxed by the Federal government in the amount of $117.

...2 full time jobs, while in school, with two majors and a minor.

...but because I had worked part-time internships that were related to my field throughout graduate school (in addition to my other jobs).

It seems like it will get much worse before it gets any better, and that will have to be with massive overthrow of these blood sucking Vampires called zionist, trilateral group etc.

By 2006 a point was reached where debt service grew to exceed operating income or the ability of many homeowners to carry – especially when interest rates jumped. The Fed’s bailout idea is to lend debtors enough to pay their bankers and other creditors, subsidizing their insolvency with enough to keep current on obligations they cannot otherwise afford. The alternative is negative equity: the sale of homes, office buildings and companies pledged as collateral and sold at prices below the mortgage or loan value. Such subsidy merely buys time for the debt problem to become even more deeply engrained.

The reality is that the existing level of debts cannot be paid. The problem is by no means confined to the bottom of the economic pyramid, but is concentrated at the top. The U.S. Government itself turns out to be the world’s largest subprime debtor. Its $2.5 trillion debt to foreign central banks – and even larger private-sector debt to other foreigners – cannot be paid, given the nation’s heavy military and trade deficits. Recognition of this political fact at the core of the international financial system has led foreign governments and investors to dump dollar-denominated bonds and stock. This has driven down the dollar’s exchange rate, raising dollarized prices for oil and other raw materials.

The larger the U.S. trade deficits and foreign military spending grow, the more of these dollars are turned over to foreign central banks by foreign exporters and other recipients of U.S. funds. Central banks then find themselves with little to spend their money on, except to buy U.S. Treasury securities. They have bought so many that Americans have not had to bear the cost the U.S. federal budget deficit by buying the bonds to finance it. Foreigners have bought them. In effect they have loaned the U.S. Government the dollars and foreign exchange to wage its war in the Near East – a war that most foreign voters do not support. To fund the U.S. payments deficit and federal budget deficit is to subsidize this war.

The bailout is designed to enable banks to lend money to support asset prices and preserve the market price of collateral pledged to back their mortgage loans and lending to highly leveraged companies and hedge funds. In bailing out banks to increase their loans to achieve these ends, the Fed has become an active player in a financial war to indebt real estate, labor and industry all the more.

The result is an unprecedented intrusion of Big Government, not in a socialist manner but one that uses the public purse to protect finance and property at the top of the economic pyramid. This is done by leading down a uniquely financial road to serfdom, by promoting a regime of debt peonage. Via the Federal Reserve system, the government is “solving” the ending of the Bubble Economy by providing enough loans to indebt industry and agriculture, labor and tangible capital as it borrows the money to pay debt service on loans that otherwise would fall into default.

But as noted above, the most problematic debt is foreign debt, and the major subprime international debtor is the U.S. Government. It is now indebted to foreign governments (via their central bank holdings of $2.5 trillion in dollar reserves) and to private investors (another few trillion) beyond the nation’s ability to pay, not to mention beyond its political willingness to do so. That is why foreigners no longer are accepting the dollars being thrown off by U.S. consumers, U.S. investors buying foreign enterprises, and the U.S. military extending its bases abroad.

The only way to stop this hemorrhaging is to negotiate a debt writeoff, starting with the U.S. Treasury bonds held by foreign central banks. But what does the United States have to offer? To ask foreign governments to make an economic sacrifice of this magnitude cannot be negotiated without the U.S. Government negotiating a grand global bargain. Having little quid pro quo to offer, the most promising way to get foreign countries to voluntarily give up their financial claims on the U.S. economy must include the one thing America can offer – the military dimension

Besides artificially propping up the markets, Obama’s NIRB, as an initiation of the Rohatyn/Rudman infrastructure investment model, opens the door to the privatization of public assets. International predators and asset-strippers want to buy up public highways and impose cutthroat tolls, as they are already doing in many states. Then they run the turnpikes into the ground as cash cows while they mercilessly bilk the users. Privatization is a key goal of the Anglo-American financiers behind this scheme. Both the NIC and NIRB rely on the new darling of the markets, PPPs, known as public private partnerships. PPPs are the means by which market forces will dictate, and that is the word, the implementation of these projects. The argument is that the PPP will keep costs down, but in reality only because the private corporations, now controlling the public sector, will own the assets of what is being constructed. The PPP model is none other than the model implemented by Mussolini in his fascist corporate state

Do not be fooled! Barak Obama’s call for National Infrastructure Reinvestment Bank (NIRB) does not signal the return of the Democratic Party to the values of FDR and a revival of the Constitutional prerogative to ‘promote the general welfare’, but would rather provide more welfare for Wall Street and worse. Obama’s plan is nothing more than the direct means of instituting the Rohatyn-Rudman National Investment Corporation (NIC) plan called for in 2005, which in essence is a revival of Mussolini’s methods of corporatist control of the state in a politically correct post modern fashion..

Sure the NIRB will create some low-wage jobs, but the PPP arrangement will make certain that organized labor does not get assertive about living wages and benefits, all the while private companies welcome a work force of illegal immigrants who will do much of the work for virtual slave wages as is already the case.

Originally posted by pacificwind
The regular doom and gloom oracles on here can predict that the end is nigh all they want. It's not going to happen. A recession? Maybe, jury still isn't in, but that isn't the economic disaster so many are praying for.

Originally posted by pacificwind
It is so much easier to throw out insane red herrings like this than actually talk about the issues at hand.

Originally posted by pacificwind
In your self righteous hatred