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Just for shits, show us all how much raising taxes on the rich will pay down that deficit... You don't even have to show cause and effect with loss of investment and jobs due to raising taxes, you can pretend if you have 80% unavoidable taxes that people would just love to pay it if you like.
All I want is a number on how much taxes have to be raised, on who and how much revenue that pulls in to pay down the deficit. This should be easy for a smart guy like yourself who never just blurts out stupid talking points with no information to back their shit up.
OK, I'll give you an honest answer
The rich are taxed at the lowest rate in 50 years. While increasing their taxes to previous rates will not erase the debt immediately, it will do so over the next 50 years.
They will not take out their modest tax increase on their employees, they did not do so under Clinton and the economy boomed.
During the Republican debates, the candidates were asked if they would raise taxes by one dollar if it were accompanied by ten dollars in spending cuts
Not one of them raised their hand
The rich are taxed at the lowest rate in 50 years.
No they aren't. Back in 1988 the top income tax rate was 28%.
During the Republican debates, the candidates were asked if they would raise taxes by one dollar if it were accompanied by ten dollars in spending cuts
Not one of them raised their hand
Democrats have lied about spending cuts in the past in order to raise taxes.
They then increase spending and we're stuck with the higher rates. No thanks.
Lets make major spending cuts for the next 10 years, then we'll think about tax hikes.
Oh. I see you don't know shit about shit. (Again)
Here go, fucknut. Watch this and try to keep up:
Money, Power and Wall Street | FRONTLINE | PBS
You want me to watch a video that you feel says government debt was rebundled as a derivative? That's funny!
Why don't you watch the video and post the proof in your own words?
I'll wait. Good luck!
Here. Let me google that for you.
Goldman Secret Greece Loan Shows Two Sinners as Client Unravels - Bloomberg
On the day the 2001 deal was struck, the government owed the bank about 600 million euros ($793 million) more than the 2.8 billion euros it borrowed, said Spyros Papanicolaou, who took over the countrys debt-management agency in 2005. By then, the price of the transaction, a derivative that disguised the loan and that Goldman Sachs persuaded Greece not to test with competitors, had almost doubled to 5.1 billion euros, he said.
Goldman Sachs details 2001 Greek derivative trades | Reuters
Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt - SPIEGEL ONLINE
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all
BBC News - How Goldman Sachs helped mask Greece's debt
Goldman Sachs Shorted Greek Debt After It Arranged Those Shady Swaps - Business Insider
I wipe my dick clean of thee.
You want me to watch a video that you feel says government debt was rebundled as a derivative? That's funny!
Why don't you watch the video and post the proof in your own words?
I'll wait. Good luck!
Here. Let me google that for you.
Goldman Secret Greece Loan Shows Two Sinners as Client Unravels - Bloomberg
On the day the 2001 deal was struck, the government owed the bank about 600 million euros ($793 million) more than the 2.8 billion euros it borrowed, said Spyros Papanicolaou, who took over the countrys debt-management agency in 2005. By then, the price of the transaction, a derivative that disguised the loan and that Goldman Sachs persuaded Greece not to test with competitors, had almost doubled to 5.1 billion euros, he said.
Goldman Sachs details 2001 Greek derivative trades | Reuters
Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt - SPIEGEL ONLINE
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all
BBC News - How Goldman Sachs helped mask Greece's debt
Goldman Sachs Shorted Greek Debt After It Arranged Those Shady Swaps - Business Insider
I wipe my dick clean of thee.
You're whining about Greek debt? What does that have to do with the housing smash? LOL!
By then, the price of the transaction, a derivative that disguised the loan
OMG! Debt disguised as a derivative, not bundled and sold as a derivative. Thanks for demonstrating your ignorance, more than usual.
Stick your dick back in your mouth.
Here. Let me google that for you.
Goldman Secret Greece Loan Shows Two Sinners as Client Unravels - Bloomberg
Goldman Sachs details 2001 Greek derivative trades | Reuters
Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt - SPIEGEL ONLINE
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all
BBC News - How Goldman Sachs helped mask Greece's debt
Goldman Sachs Shorted Greek Debt After It Arranged Those Shady Swaps - Business Insider
I wipe my dick clean of thee.
You're whining about Greek debt? What does that have to do with the housing smash? LOL!
By then, the price of the transaction, a derivative that disguised the loan
OMG! Debt disguised as a derivative, not bundled and sold as a derivative. Thanks for demonstrating your ignorance, more than usual.
Stick your dick back in your mouth.
Oh, you don't understand how the entire fiscal meltdown we had across the globe was tied together then. I see. Yeah, you should really watch that Frontline documentary then.
They didn't just do those derivative debt swaps in Greece or Europe either, numbnuts. They suckered domestic municipalities into doing them too.
Derivatives - The Unregulated Global Casino for Banks
Derivatives: The $600 Trillion Time Bomb That's Set to Explode - Money Morning
Also, I wiped my dick clean of you.
You're whining about Greek debt? What does that have to do with the housing smash? LOL!
By then, the price of the transaction, a derivative that disguised the loan
OMG! Debt disguised as a derivative, not bundled and sold as a derivative. Thanks for demonstrating your ignorance, more than usual.
Stick your dick back in your mouth.
Oh, you don't understand how the entire fiscal meltdown we had across the globe was tied together then. I see. Yeah, you should really watch that Frontline documentary then.
They didn't just do those derivative debt swaps in Greece or Europe either, numbnuts. They suckered domestic municipalities into doing them too.
Derivatives - The Unregulated Global Casino for Banks
Derivatives: The $600 Trillion Time Bomb That's Set to Explode - Money Morning
Also, I wiped my dick clean of you.
Government bonds aren't derivatives, they're bonds.
Also, I wiped my dick clean of you.
OMG! Debt disguised as a derivative, not bundled and sold as a derivative.
If anyone has an honest desire to learn how Wall Street can help a client hide debt and help companies avoid regulations and reporting rules with derivatives, start with this book: Traders, Guns & Money: Knowns and unknowns in the dazzling world of derivatives
It is well worth the time and effort.
Government bonds aren't derivatives, they're bonds.
Government bonds aren't derivatives, they're bonds.
But a cross currency swap is a derivative. And that is one way a debt, which is all a bond issuance is, can be hidden.
Government bonds aren't derivatives, they're bonds.
But a cross currency swap is a derivative. And that is one way a debt, which is all a bond issuance is, can be hidden.
Exactly. I learned that watching the PBS Frontline. I definitely learned a lot that I had no clue about when it comes to the fiscal meltdown of the last few years.
Let me ask you this, since you seem to be up on the dangers of derivatives, do you support reinstalling Glass-Steagall?
But a cross currency swap is a derivative. And that is one way a debt, which is all a bond issuance is, can be hidden.
Exactly. I learned that watching the PBS Frontline. I definitely learned a lot that I had no clue about when it comes to the fiscal meltdown of the last few years.
Let me ask you this, since you seem to be up on the dangers of derivatives, do you support reinstalling Glass-Steagall?
I just gave a public speech not one hour ago calling for, among other things, the repeal of the CFMA and the FSMA.
The FSMA (a.k.a. Gramm-Leach-Bliley) repealed Glass-Steagall. So repealing the FSMA would repeal the repeal of Glass-Steagall.
Are these 40 economists part of that group of economists that never seem to get it right. The weatherman is more accurate.
Excellent! Man, why do I have a feeling we might be closer on the political spectrum than either of us think...is abortion your only major social issue you're Conservative on?
Are these 40 economists part of that group of economists that never seem to get it right. The weatherman is more accurate.
They seem to be the same experts who currently contend that cutting current tax rates will result in greater tax revenues in five years.
But I'm sure they're all left wing hacks.
Excellent! Man, why do I have a feeling we might be closer on the political spectrum than either of us think...is abortion your only major social issue you're Conservative on?
I am fiscally conservative on most things, and socially conservative on most things, with a few exceptions like gay marraige.
The global derivatives bubble was a team effort. And letting the flat-out criminals get away with fraud was achieved with the full cooperation of the government. This was organized crime in every sense of the word. And a D or an R after a politician's name is not a reliable indicator of which way that politician will come down.
Everyone should be in favor of jailing crooks. Everyone.
"Wall Street" is not criminal, per se, but it is overrun with them. And small fines with no admission of wrongdoing has led to more crime. When you don't weed your garden, the weeds multiply and grow bigger and stronger.
Now they are bringing down cities, countries, and continents, and have gone so far as to tinker with the very DNA of our economic system (LIBOR).
Just as an aside, it is mathematically impossible that Barclay's was the sole manipulator of LIBOR.
Excellent! Man, why do I have a feeling we might be closer on the political spectrum than either of us think...is abortion your only major social issue you're Conservative on?
I am fiscally conservative on most things, and socially conservative on most things, with a few exceptions like gay marraige.
The global derivatives bubble was a team effort. And letting the flat-out criminals get away with fraud was achieved with the full cooperation of the government. This was organized crime in every sense of the word. And a D or an R after a politician's name is not a reliable indicator of which way that politician will come down.
Everyone should be in favor of jailing crooks. Everyone.
"Wall Street" is not criminal, per se, but it is overrun with them. And small fines with no admission of wrongdoing has led to more crime. When you don't weed your garden, the weeds multiply and grow bigger and stronger.
Now they are bringing down cities, countries, and continents, and have gone so far as to tinker with the very DNA of our economic system (LIBOR).
Just as an aside, it is mathematically impossible that Barclay's was the sole manipulator of LIBOR.
I find that really encouraging, actually, that you and I who are very clearly on polar opposites on just about every issue can agree on this point. I definitely feel that when we look back on this 30 years, we'll see even more clearly just how badly the banks were the ones fucking us over, and of course Wall Street too. Everyone should be LIVID about the derivative shenanigans, and LIBOR is fraud of the worst degree.
Interestingly, I also hold Democrats responsible for bailing the banks and Wall Street out too, but I think it had to be done to save the country from an even bigger disaster. However, no doubt the one who are the guiltiest of gambling with our futures should be held accountable, totally agreed.
And what's really funny is that this makes me want to vote for Obama, not because he has a squeaky-clean record with Wall Street, but because he's obviously going to be much less willing to to let Wall Street skate, and he'd definitely sign Glass-Steagall back into law.
Honestly, I don't think Republicans by and large have the country's best interests in mind when it comes to fiscal policy right now. It ALL bends towards Wall Street, doesn't it?
I am fiscally conservative on most things, and socially conservative on most things, with a few exceptions like gay marraige.
The global derivatives bubble was a team effort. And letting the flat-out criminals get away with fraud was achieved with the full cooperation of the government. This was organized crime in every sense of the word. And a D or an R after a politician's name is not a reliable indicator of which way that politician will come down.
Everyone should be in favor of jailing crooks. Everyone.
"Wall Street" is not criminal, per se, but it is overrun with them. And small fines with no admission of wrongdoing has led to more crime. When you don't weed your garden, the weeds multiply and grow bigger and stronger.
Now they are bringing down cities, countries, and continents, and have gone so far as to tinker with the very DNA of our economic system (LIBOR).
Just as an aside, it is mathematically impossible that Barclay's was the sole manipulator of LIBOR.
I find that really encouraging, actually, that you and I who are very clearly on polar opposites on just about every issue can agree on this point. I definitely feel that when we look back on this 30 years, we'll see even more clearly just how badly the banks were the ones fucking us over, and of course Wall Street too. Everyone should be LIVID about the derivative shenanigans, and LIBOR is fraud of the worst degree.
Interestingly, I also hold Democrats responsible for bailing the banks and Wall Street out too, but I think it had to be done to save the country from an even bigger disaster. However, no doubt the one who are the guiltiest of gambling with our futures should be held accountable, totally agreed.
And what's really funny is that this makes me want to vote for Obama, not because he has a squeaky-clean record with Wall Street, but because he's obviously going to be much less willing to to let Wall Street skate, and he'd definitely sign Glass-Steagall back into law.
Honestly, I don't think Republicans by and large have the country's best interests in mind when it comes to fiscal policy right now. It ALL bends towards Wall Street, doesn't it?
nope, it doesnt bend towards wall street. Big govenement and big business are friends....I have to say that less regulation and government interferance would be nice. Lets get the government out of the way so that when a business goes down, it's all them. no more putting regulations on say mortgages to loan to people who cant pay and then be shocked they dont pay it back.....GEEEEEE
Forty Progressive Economists? And they speak for all those other fourteen thousands of economists who are neither conservative nor "progressive (liberal)"?40 Economists Say The GOP Has Abandoned Economic Reality | ThinkProgress
Before the Conservadopes scream "HATE SITE" and plug their fingers, note the first fucking sentence in the article:
So now economists are starting to see the same things as everyone else outside the Limbaugh/Beck/Faux News bubble. And I think even Republicans in Congress are starting to wake up to reality. Boehner pretty much told the GOP members of Congress that told him to SHUT THE GOVERNMENT DOWN over Obamacare to fuck off recently too. Orin Hatch wants to compromise on the tax issue.
Grover and the Tea Party's days of power are quickly coming to an end because after two years, America's independent voters are starting to see how off their tits the GOP is.
wow... 40 whole economists. Out of 14,600 in the US alone. How many people are currently employed as a Economists in the United States?
Do the math, dumb ass.
.002% of active US economists hold that opinion.
Oh. So you don't get how surveys work either, Hall Monitor Jones? Sucks for you to not get advanced concepts.
