A Bold Plan Sweeps Away Reagan Ideas

A Bold Plan Sweeps Away Reagan Ideas

www.nytimes.com

The budget that President Obama proposed on Thursday is nothing less than an attempt to end a three-decade era of economic policy dominated by the ideas of Ronald Reagan and his supporters.

he Obama budget — a bold, even radical departure from recent history, wrapped in bureaucratic formality and statistical tables — would sharply raise taxes on the rich, beyond where Bill Clinton had raised them. It would reduce taxes for everyone else, to a lower point than they were under either Mr. Clinton or George W. Bush. And it would lay the groundwork for sweeping changes in health care and education, among other areas.

(visit the link for the full news article)



[edit on 28-2-2009 by HunkaHunka]

Mod edit: Fixed title and link.

[edit on 2/28/2009 by Hal9000]

This seems like something you either like or you don't.

All I can say is that this is indeed the type of change I voted for.

More than anything else, the proposals seek to reverse the rapid increase in economic inequality over the last 30 years. They do so first by rewriting the tax code and, over the longer term, by trying to solve some big causes of the middle-class income slowdown, like high medical costs and slowing educational gains.

www.nytimes.com
(visit the link for the full news article)

[edit on 28-2-2009 by HunkaHunka]

Mod edit: Fixed title and link.

[edit on 2/28/2009 by Hal9000]

And not a moment too soon. The sooner Obama's Ghostbusters can send the specters of Reagan and Nixon and their ilk back to the fiery pits from whence they crawled, the better off we'll all be.

Too bad there's still so many who've been fooled by the Right Wing Noise Machine into thinking those policies that help the vast majority of Americans, usually themselves included, are somehow "bad" for the country despite all historical data to the contrary.

Guess you can't teach a dog that don't want to be taught.

How about retracting the rapid, ramped, rabbid rabbitesque exponential growth of Government?

I was reading my states 2008 Comprehensive Annual Financial Report earlier and as I concluded, the revenues grew at ..well here's an excerpt:

General Fund-State revenues are forecasted to grow at a 5.0 percent rate in the 2009-11 Biennium, compared
to the 3.1 percent increase in the 2007-09 Biennium, and the 18.7 percent pace in the 2005-07 Biennium. A
portion of the slow growth in the 2007-09 Biennium is due to economic changes in the tax system that were
scheduled to take full effect in the 2007-09 Biennium, including aerospace industry tax credits. The slowing
economy and slumping housing markets have also had a negative effect on revenue growth. Particularly hard
hit have been retail sales and real estate excise taxes.

Key words...
real estate excise taxes and 2005-07 biennium increase of state revenues at 18.7 percent.

Just when the housing bubble was bloating, the 3X overvalued properties were shoveling tax revenue to the states general fund as if a steam locomotive's fireman was shoveling coal at a rate worthy of a Comcast high-speed broadband comercial.

It also notes that the revenues came from attributable to gains in both wage and nonwage income. I.E./AKA equity from cashing out homes at 3X purchased values.
Along with the increased tax base, the new-found spendable income from the instant equity was also slowly milked back to the state through consumption (what a grande plan).

And with Bushes administration along with Congress, the S&L scandal of the 80's Bushes was but a speck of sand for what they had in store for us this last time around. It took..about 17 years to repay the S&L robbery. This is a thousand fold worse so what, 17,000 years to pay off the last pilfering?
If there is a hell in the afterlife, it will give a new meaning to the "burning Bush".

Not only all this muck and quicksand, but now the Gov. is still throwing dollars at a Mel's Hole, in a Darwinistic attempt to create life from zombie banks, thrifts and financial institutions.

(I prefer the earned title, "Mafia And Governmental Opressors Group" or MAGOG.
D.B.A. Mafia And Governmental Goals Of Treason, or MAGGOT.)

While tossing millions to Sporting Associations, Billions to Auto Manufacturers, and Trillions to Zombie Banks, we labor onward to pay for these illegitimate debts.

Now, the "too big to fail" asset-less Lending Gods, so much like the free meal, they are returning for seconds.

Democrates, Republicans, and other worthless arrogant creatures alike.

They need more funding to continue - (whatever the heck they are needing to continue doing. It surely is not to save the middle class, it is to immortalize an infinite distance between themselves, the Haves and Have-mores, from us, the have-nots and never-will-have-agains.

So, as they re-wrap their lips of suction around the soon to be milkless tits the sheeple are unknowingly still exposing for their greedy psychopathic pleasures, I remembered another report I had read earlier and pondered.

According to the data found HERE

showing assets of these Zombie Necromancers; (displayed in thousands)

Rank Institution Name (RSSD ID) Location Total Assets 12/31/2008 Total Assets 09/30/2008
1 JPMORGAN CHASE & CO. (1039502) NEW YORK, NY $2,175,052,000 $2,251,469,000
2 CITIGROUP INC. (1951350) NEW YORK, NY $1,947,439,000 $2,050,131,000
3 BANK OF AMERICA CORPORATION (1073757) CHARLOTTE, NC $1,822,068,028 $1,836,452,425
4 TAUNUS CORPORATION (2816906) NEW YORK, NY $396,659,000 $624,162,000
5 WELLS FARGO & COMPANY (1120754) SAN FRANCISCO, CA $1,309,639,000 $622,361,000

(it was a chart so may not transfer properly but, lets just take #1;
JPMORGAN CHASE & CO.
Total assets as of 31-12-2008
$2,175,052,000

Oops...I forgot this is displayed in thousands. Let me correct the numbers into laymen's terms.
$2,175,052,000,000.00

That's a more accurate presentation.

Let's see. I haven't counted these numbers since Mathematics but It looks to me like two months ago, their assets were...

$two trillion one hundred seventy-five billion fifty-two million dollars.

Yep, March is around the corner, they be needin' some more financial aid.

I only wish I could look twelve of you in the eyes and end with:
The Prosecution Rests!

That's all I really wanted to say.

reply to post by HunkaHunka


Amen!
Here's to the end of Reaganomics and all the backward, racist policies it promulgated. Cheers!

Originally posted by HunkaHunka

This seems like something you either like or you don't.

All I can say is that this is indeed the type of change I voted for.

[edit on 28-2-2009 by HunkaHunka]

Really? Wow, I've read so many of your posts and each one makes my head spin. I think you've drank too much tap water or had a government education.

Do you realize that the 'rich' employ over 75% of the work force? Don't you think that imposing higher taxes common peoples employers will just lead to more job loss?

I know it will, even the filthy dirty lowlife rich are hurting financially right now. The ones I know aren't living the high life they used to. The economic problems we have right now stem up and down. The lack of purchasing and business effects the people at the top. And when you tax the hell out of them, it will effect the bottom.

This is exactly the change we need to eclipse the great depression.

I am not a Republican, so don't point a finger at me and say, "well your a republican, so of course you disagree with everything Obaaammaaa does."

reply to post by xstealth


"Do you realize that the 'rich' employ over 75% of the work force? Don't you think that imposing higher taxes common peoples employers will just lead to more job loss?"



Maybe It's time for a long needed reform for the work force to ditch those "rich" employers then?

Wouldn't it be better if the work force united themselves and started employing themselves with their own production? and work for themselves?

Wouldn't it be nice if all the workers owned the means of their production without the "rich" middle-hands!

Sounds like a great idea. Bring on the socialism! Lets spread the misery around to everyone!

Goodbye America. We've been robbed by the banks, the auto industry, etc... The fact that people actually think this is "change" for the better is laughable. The worst is yet to come, thanks to our new Prez. His success depends upon making it as bad as possible first, so the sheep will let him do whatever he wants. He is actually making it worse than Bush could have, and I can't stand Bush.

Say goodbye to Amercia. What ever happened to "We The People", oh yeah, even in Obama's world he is doing nothing for "the people". All I say is an amazing orator with too much power, who cares more about "looking good" than "doing good".

And as I have come to expect when I dare impugn his name, the old "Well, we can tell you're a Republican", is just not true. I am a registered Democrat and Obama scares me.

He is no different than any Democrat or Republican before him. They're ALL in it for themselves, their special interests and their pals, and Obama is NO different. They just robbed our children's futures, and their children's futures with OUR money.

Hmm, the author of this article seems to have a different definition of 'change' than I do. Here's what I would consider 'change':

- Elimination of all federal taxes
- Establishing appropriately protectionist trade tariffs
- Returning to apportionment for federal funding

I know, how very 1800's of me.

Good Riddance to the biggest 3 Card Monty game in the world!

The cards Tech Bubble, Housing Bubble, Federal Reserve

With the media shills urging the suckers on.

What many people don't realize is that it is not the rich that make this country go. It is the majority of the people who earn less than $30,000/year that make this country go. We are a consumerist society, when you buy something you are keeping the machine oiled and fueled up. But over the past couple of decades and recently with the billions of bailout money that has vanished the rich have become astronomically richer.

The thing you have to truly understand and the thing that this Capitalists nation refuses to accept is that if the "less fortunate" people don't have money we cant buy anything and if we cant buy things, the consumerist economy grinds to a halt.

Face it, the wealth gap in the US is wider than it ever has been before and is growing by leaps and bounds and a large wealth gap is a huge gapping gangrenous sore on the economy of the US. Maybe a 100% capitalist nation cant work. Maybe a more socialist nation would be better. There HAS to be something better than this crap we are going through which was caused by pure unrestrained greed.


What it comes down to is the Majority has to earn a little more and the minority has to earn a little less. "90% of the wealth is held by 10% of the people." is rediculous. I hate communism, I DO know what it is all about and I am not head over heels with total socialism, but things do need to change with how much money is held by who.



For those of you screaming about how this will be the "End of America" ... where have you been the last 8 years? The American dream died a few years ago.





[edit on 28-2-2009 by A NeWorlDisorder]

Ronald Reagans favorite saying was, "A rising tide lifts all boats."

My only problem with that is I didn't own a boat. I really didn't know anyone that owned a boat either. If you weren't wealthy enough to own a boat you were screwed.

Clinton raised taxes on the rich and lowered them for the poor and we still saw an economic expansion during his term.

I say let Obama try what he wants to try. He has no place to go but up.

I wasn't around exactly during Reagan's presidency but my first impression was that he really help the economy, but later I read a lot about the problems with it. The deregulation of media, the economy, ect. really does nothing but give more power (and wealth) to those that already have too much. And I think, like many, trickle down economics is a joke.

Originally posted by ghaleon12
I wasn't around exactly during Reagan's presidency but my first impression was that he really help the economy, but later I read a lot about the problems with it. The deregulation of media, the economy, ect. really does nothing but give more power (and wealth) to those that already have too much. And I think, like many, trickle down economics is a joke.

It is a joke. What they really mean by "trickle-down economics" is, it's legal for the rich to urinate on the rest of us at their leisure.

Originally posted by mrwupy
Ronald Reagans favorite saying was, "A rising tide lifts all boats."

My only problem with that is I didn't own a boat. I really didn't know anyone that owned a boat either. If you weren't wealthy enough to own a boat you were screwed.

Give this man a HELL YEAH!!

Someone who gets it.

Clinton raised taxes on the rich and lowered them for the poor and we still saw an economic expansion during his term.

And the reason is, when the rich are taxed at higher rates, in order to avoid paying taxes they keep their money in their businesses rather than take it as personal income. That means the money is being used to pay good salaries, purchase and maintain infrastructure, hire more workers, pay better benefits, etc. rather than being lost in gambling and high-risk ventures, paying for high-class hookers and drugs, etc.

No one's saying you can't be rich. Just that there's a level where you've gone from "rich" to "irresponsibly greedy".

And for all who lament the current economic situation, you can thank Reagan, Bush I and II, and yes, Clinton for all of this. Their gutting/refusal to enforce the Sherman Anti-Trust Act led us directly to this point. Had it been enforced, the companies we're now spending billions bailing out would never have gotten "too big to fail" in the first place.

Originally posted by Chevalerous

Maybe It's time for a long needed reform for the work force to ditch those "rich" employers then?

Wouldn't it be better if the work force united themselves and started employing themselves with their own production? and work for themselves?

Wouldn't it be nice if all the workers owned the means of their production without the "rich" middle-hands!

Thats all well and good for your dream world, but unrealistic.

We live in a monkey see monkey do society. Most people are taught, go to school get out go back to school and get a good job for some company. Thats what most people do.

Most people aren't entrepreneurs and can not employ themselves. They don't want to take the risk, and they don't want the responsibility.

No one is keeping the common worker from doing the same, they just chose not to.

Most rich are entrepreneurs, they are risk takers. All the ones I know paid their dues, risking their homes and credits, and worked a low salary to become successful. The rich aren't the middle hands, they are the providers to the sheep that can't think or have no drive of their own.

Taxing the rich also punishes the successful and lowers goals. Im not looking forward to the day I say, "I want to be rich so I can be taxed to death and become middle class again"


You're logic is nearly communist.

Originally posted by The Nighthawk
And not a moment too soon. The sooner Obama's Ghostbusters can send the specters of Reagan and Nixon and their ilk back to the fiery pits from whence they crawled, the better off we'll all be.

Too bad there's still so many who've been fooled by the Right Wing Noise Machine into thinking those policies that help the vast majority of Americans, usually themselves included, are somehow "bad" for the country despite all historical data to the contrary.

Guess you can't teach a dog that don't want to be taught.

same can be said for you looney liberals.

Originally posted by xstealth

Originally posted by HunkaHunka

This seems like something you either like or you don't.

All I can say is that this is indeed the type of change I voted for.

[edit on 28-2-2009 by HunkaHunka]

Really? Wow, I've read so many of your posts and each one makes my head spin. I think you've drank too much tap water or had a government education.

Wow... so you don't like my opinion so you attempt to disparage me?

That did LOADS for your stance..believe me...

Update: And then, I see you foed me... for posting a thread?



[edit on 28-2-2009 by HunkaHunka]

Originally posted by xstealth

Do you realize that the 'rich' employ over 75% of the work force? Don't you think that imposing higher taxes common peoples employers will just lead to more job loss?

That's not true at all!! That's the "rich" propaganda to try and get away form paying their fair share of taxes. Propaganda by their mouth pieces Rush and Sean. No real thinking person falls for that ****. And you fell for it.

Real rich people don't hire people and they have never done an honest days work in their lives. Their money is inherited, stashed in off shore accounts, invested in banking and their shielded accounts will always be a secret. And are the direct recipients of the bail outs.

The Federal Govt. is the largest employer in America. Not rich people.

www.bls.gov...

www.informationclearinghouse.info...


[edit on 28-2-2009 by whaaa]

Originally posted by HunkaHunka

Wow... so you don't like my opinion so you attempt to disparage me?

That did LOADS for your stance..believe me...

Update: And then, I see you foed me... for posting a thread?

[edit on 28-2-2009 by HunkaHunka]

Sorry there is only so much Obama nut hugging garbage I can read before I lose respect for anything someone says. Think for yourself and not your party, this guy in office is no better then the last.

The first thing he did was screw us over in another 'stimulus' plan that most people were against.

They aren't working for you anymore - they don't care what you want, and yet you want them to have more power? Bigger government, something has to be wrong with this picture.

Lets keep this thread on topic please