Originally posted by David9176
"Now, it would be nice if we could keep every tax break, but we can't afford them," Obama said in his weekly radio and Internet address.
"Because if we choose to keep those tax breaks for millionaires and billionaires, or for hedge fund managers and corporate jet owners, or for oil and
gas companies pulling in huge profits without our help - then we'll have to make even deeper cuts somewhere else."
"We've got to say to a student, 'You don't get a college scholarship.' We have to say to a medical researcher, 'You can't do that cancer
research.' We might have to tell seniors, 'You have to pay more for Medicare,'" he said.
"That isn't right, and it isn't smart. We've got to cut the deficit, but we can do that while making investments in education, research and
technology that actually create jobs."
It's about damn time!!!! I don't know how this can even be so difficult to stand for when the majority of Americans think the wealthy should pay
more in taxes, especially in a time of record corporate profits and exploding wealth disparity. To expect the working middle class, the poor, and
unemployed to take all the pain is ridiculous.
edit on 2-7-2011 by David9176 because: (no reason given)
It would be nice if it worked out they way we would imagine it to be. I can see this having 2 scenarios.
1- The wealthy will shut up, pay their taxes and learn to be model companies/individuals.
2- The 'targets' of this plan relocate to another country leaving us high and dry, and holding the bill - including their share of delinquent taxes.
Or their US accounts will be moved offshore.
He is right that we need to invest in our future, but his idea of jobs and our idea of jobs are vastly different. His paradigm of 'growth' is to go
deeper in debt to fund overweight banks and loan loan loan to smaller banks, who will HAVE to loan loan loan in order to maintain asset/profit
projections. In their ideology, it is more of a global consolidation of UN resources and law. I mentioned in another thread about Obama's last act of
futility of 'green jobs and renewable energy' where our prospect of wind turbine energy was outsourced to China. It just happened again with the San
Francisco bridge. China is building it in modules to be assembled here. Again, the money/jobs were sent overseas. Why? Because we (Cali) could not
afford it from scratch? Oh that's right, we jumped through our asses to strip down the WTC wreckage and get it to China asap. So we get to buy it
back at a higher cost. But we're saving money right?
I did electrical work at an international engineering firm that built modular petrochemical & pharmaceutical plants in shippable modules, to be re
assembled at another location. Basically turn-key. Most of those projects ended up in other locations outside this country. Puerto Rico mainly. They
paid us well to build them, but since they are assembled in another country, they pay no taxes.
Presidents have been talking about tax cuts for decades, but in the end, the lobbyists/PACs/SIGs always get their way, since they sponsor our puppet
presidents and congressmen. The rich continue to dodge taxes and hide in tax loopholes, and we get to bail them out. Any future intent to raise the
debt ceiling would be greatly detrimental to positive healthy financial growth. Their concept of credit is based on leveraging debt and synthetic
assets using the Fractional Reserve Banking (or Money Mechanics). For them to increase the debt ceiling by $1T dollars, they would leverage over $10T
in vapor credit and ethereal assets, backed by 'dark pools of liquidity'.
Sorry so long winded, but I have zero faith in our govt 'doing the right thing'. They've become patsies to global financial institutions and
capitalist corporations with ugly distorted selfish agendas. I don't think Obama is the primary liar, but I do think he's a loyal mouthpiece for
chocolate starfish like Soros and Govt Sachs.