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Obama Draws Line in the Sand with Republicans - Will Not Extend Bush Tax Cuts

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posted on Jun, 5 2011 @ 01:41 AM
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reply to post by Kitilani
 


thats hilarious that shows you know nothing about business why the hell would you give the government an interest free loan.

blah blah blah




posted on Jun, 5 2011 @ 10:42 AM
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reply to post by neo96
 


Man, when someone proves you to be that wrong, and you still can't face the reality that you posted something really stupid, you have really lost your grip. You get a 10M tax refund, you are a millionaire. End of story.

Investing in any business is only worth doing if you have customers to buy what ever you are selling in that business. Without paying customers, no business can survive. It doesn't matter how much money you have. If there are no paying customers, investing in capital to run a business is a waste of money.

If the average person only makes enough money to pay for the basics, then only businesses that provide the basics will survive. That is why China must sell the stuff they make to the U.S., even if that means loaning the U.S. lots of money, because the people in China can not afford to buy the stuff. The problem is that as the manufacturing moves out of the U.S. and into China, so do the jobs from which people earn money to buy stuff.

And people who are not making any money can not pay back those loans. This is what happened at the end of the twenties. Wages were low, so people borrowed to buy stuff. Eventually, their debts out ran their incomes, nobody had any money to buy anything, and the businesses all shut down. Thus the great depression was created.



posted on Jun, 5 2011 @ 10:49 AM
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reply to post by Kitilani
 


Oops, I responded to the wrong poster. Sorry, don't know how that happened.

Must have hit the wrong link.
edit on 5-6-2011 by poet1b because: typo



posted on Jun, 5 2011 @ 10:51 AM
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reply to post by incrediblelousminds
 


See S Korea.

Read U.S. history in the twentieth century. Learn how the economies of the sixties and seventies were built.

Educate thyself.

And by the way, I never said it was simple.



posted on Jun, 5 2011 @ 12:27 PM
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centurion, I'm sorry but that doesn't make any sense. If a business builds it's business strategy around a TEMPORARY tax cut, they are not a very smart business. If anything, they are looking at increased profits/revenue/capital now due to an extension of the Bush tax cut that never should've happened, IMO. Again, where are the jobs? Any business model/forecasting would've taken into consideration that the tax cut was TEMPORARY, and now it's been extended. This whole line of reasoning is bogus to begin with considering businesses have prospered in this country when taxes were much, much higher.

Both sides use scare tactics. Both sides are pretty close to being the same in a lot of ways. I'm definitely not a supporter of most of the Democrats in office, but you're kidding yourself if you're trying to tell me that Republicans aren't on TV everyday trying to drum up fear about medicare and other "entitlement" programs. Looks like people aren't falling for it, though.

edit on 5-6-2011 by origamiandurbanism because: (no reason given)



posted on Jun, 5 2011 @ 06:55 PM
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reply to post by jimnuggits
 


Hmm, who can make wealth? Government ? Nope they can print money which makes everybody's money worth less. Can they create a job that creates wealth ? Nope all they can do is take money away from folks and give it to others. Which is a crime if you do it.

Jobs that create wealth are jobs that create products that people will pay for. Right now those jobs belong to china, mexico, etc etc etc. Those jobs used to be american jobs. Why are they not now? You can blame a bunch of stuff, but the bottom line it is cheaper to make wealth where there are no regulations than you can here in america. To get those jobs back, you have make it more profitable to produce those goods here than overseas.

The way to do that, is not tax more - that will do the opposite. To get it to happen, you have to lower taxes to do business in the U.S. I am not talking about the folks that don't pay taxes now, I am talking about the companies that make clothing, toys, cars, building supplies etc.

Another way is to reduce the red tape on small businesses (leave it on big businesses they can afford it) exempt small business from the regulations. This will allow more small businesses to start up which is where our nations real wealth comes from and still comes from.
edit on 5-6-2011 by EssenceOfSilence because: spelling



posted on Jun, 6 2011 @ 10:14 AM
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What is obvious is Obama is spending too much time on the golf courses and hob-knobbing with the elite overseas to look at the reports of his own government.

All he knows is the rich has more money than he's got and he wants it.





Source



posted on Jun, 6 2011 @ 04:33 PM
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Originally posted by Intelearthling
What is obvious is Obama is spending too much time on the golf courses and hob-knobbing with the elite overseas to look at the reports of his own government.

All he knows is the rich has more money than he's got and he wants it.


Hmmmm. he spends 'all his time' with 'elites' but is jealous of rich people? Methinks your talking points are contradicting.



posted on Jun, 6 2011 @ 05:30 PM
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reply to post by EssenceOfSilence
 


Those jobs only exist in China and Mexico because they can sell the goods and services to the U.S..

As U.S. workers loose their jobs to cheap international workers, they will also loose their incomes to purchase foreign made goods and services.

Then no one will be able to afford to buy goods and services, and even the foreign manufacturers will go out of business, and no one will be making any money, no matter how cheap the labor is, or how loose the controls, with no one to buy goods and services, businesses can not survive.

What the stupid ICs have done, is exchange long term growth for short term gain.

The fractional reserve currency will collapse, once all credit has been used up, and then the stock market.

The only reason the system still functions is because the Fed Res is loaning money it really doesn't have.

In the mean time, China and Mexico are turning into ecological disasters. Which will have serious effects on their manufacturing industries.



posted on Jun, 6 2011 @ 05:36 PM
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reply to post by Intelearthling
 


It is the super rich who who get the sweet deal. What they get out of the fed gov is far greater than what they pay in taxes. The average person pays far more in taxes to the fed gov than they ever receive in services.

One in a hundred people are not rich. Your numbers are nonsense, unless they give figures for the top .01% of income earners. Last I checked, they own about 40% of the nations wealth, so they should be paying about 40% of the taxes.



posted on Jun, 6 2011 @ 07:07 PM
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reply to post by incrediblelousminds
 


I'm going against my better judgement and explain what I said. Remember when Obama ridiculed the rich and elite before he go into office? The only reason he talked smack about them is so the his supporters would've voted for him. Now he's like,"Look at me. I'm hanging with powerfully elite."

He's a scumbag. If he meant business, he's tell the rich to stick it.

reply to post by poet1b
 


What it looks like to me is that the top 1 percent already pays 37% of the total taxes. Close enough to 40% for you?



posted on Jun, 6 2011 @ 08:10 PM
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reply to post by poet1b
 


Well, my understanding is all of those examples happened in the wake of the US's unprecedented economic and military might after the second world war. Are you suggesting we carpet bomb the competitors again?

Perhaps if you offered a bit more specifics into what i am supposed to be looking at I could refine my search a bit? Your recommendations for my review are quite broad.



posted on Jun, 6 2011 @ 08:12 PM
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Originally posted by Intelearthling
reply to post by incrediblelousminds
 


I'm going against my better judgement and explain what I said. Remember when Obama ridiculed the rich and elite before he go into office? The only reason he talked smack about them is so the his supporters would've voted for him. Now he's like,"Look at me. I'm hanging with powerfully elite."

He's a scumbag. If he meant business, he's tell the rich to stick it.


So, wait, you want POTUS to leave the wealthy alone, or tell them to 'sick it'. You're drifting of message.



posted on Jun, 7 2011 @ 05:13 PM
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reply to post by Intelearthling
 


Um, you should have looked at my numbers a little closer.

When you break down the top 1%, you will find that 99% of the top 1% pay taxes for the top .01%.

Considering that about 80% of the U.S. budget goes to the top .01%, the tax system is extremely unfair to the middle class.



posted on Jun, 7 2011 @ 05:21 PM
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reply to post by incrediblelousminds
 


Then your understanding of history is completely flawed.

The best economic periods were after we helped our enemies rebuild. When we had a truly competitive global economy, we were all doing much better. The fraudulent business practices that have destroyed our economy as a direct result of deregulation, which you clearly support, has hurt everybody's economy.

I am trying to teach you to fish, rather than just giving you fish, but you only seem concerned with making smug distortions.



posted on Jun, 8 2011 @ 09:34 AM
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Originally posted by sweetliberty
reply to post by getreadyalready
 





So, I believe we should streamline the IRS, cut the staff by about 80%, do away with the complicated tax code and graduated brackets, and just tax everyone equally, no shelters, no loopholes, no deductions, no credits. Set a minimum poverty level of say $10k per single person and each dependent, and then make everyone pay 15% for every dime of gross income above that amount. No cap, no loopholes, nothing complicated.


I think this is a wonderful idea! It makes common sense and equalizes things more so I guess that why it hasn't been implemented which is a shame.
You, Poetb1 and Neo are sharing some great information/logic and I appreciate it.

edit on 4-6-2011 by sweetliberty because: (no reason given)



Under your system do i get a tax free status if i buy - Municipal Bonds -?
Do i have to pay taxes on - Dividends - i receive from my VZ - Verizon stock?
What if i move cash off shore to a Grand Cayman Island bank account?
----------------------------
You can change all the rules, laws and regulations you want to.
The richest 1% will simply adapt.

edit on 8-6-2011 by Eurisko2012 because: (no reason given)



posted on Jun, 8 2011 @ 10:41 AM
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reply to post by Eurisko2012
 


So what are you saying? All is lost, there is no hope, don't bother to try?

If the fat cats were so smart, we wouldn't be in our current economic mess. Their wealth is based on a long succession of con jobs, and the house of cards is about to collapse. What are they going to do when they go to get that money out of those off shore accounts, and find that it has disappeared.

Don't come crying to us.



posted on Jun, 8 2011 @ 10:59 AM
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reply to post by Eurisko2012
 


Pretty sad how Republican elitist RICH have brainwashed the middle class down to poor republicans that they pay too much in taxes. They've had the best tax breaks EVER for ten years now, where are those jobs they promised? They NEVER existed The facts speak for themselves republican voters have been duped into fascism and convinced Obama's a socialist by the richest people in the country. Read the truth about Obama & socialism THEN justify your ignorant vote!
www.cbsnews.com...

Thankfully, the rest of Americans see thru the Corporate/billionaire owned Republican Party and refuse to vote the rightwing fascist party. The 1% rule because of YOU!



posted on Jun, 8 2011 @ 11:25 AM
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Originally posted by poet1b
reply to post by Eurisko2012
 


So what are you saying? All is lost, there is no hope, don't bother to try?

If the fat cats were so smart, we wouldn't be in our current economic mess. Their wealth is based on a long succession of con jobs, and the house of cards is about to collapse. What are they going to do when they go to get that money out of those off shore accounts, and find that it has disappeared.

Don't come crying to us.



It's the golden rule.
Those who have the gold make the rules.
It has been that way for thousands of years.
Now you are going to arrive on the scene and change all of that?
---------------------------
Just be glad the millionaires and billionaires are here.
They are creating jobs as we speak.






posted on Jun, 8 2011 @ 11:32 AM
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reply to post by travisirius
 


Class envy will get you nowhere. Grow up.
-------------------------
The millionaires and billionaires will save America from the socialist in the White House.
Capitalism works!
Socialism and class envy does not work.
This point in history was necessary as an opportunity for growth.
- People will look back at this moment in history and say that America tried on a socialist suit
and it did not fit. -

Think 10 years ahead not 10 minutes ahead.




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