Economics

Discussion in 'Congress' started by mdjgirl7, Oct 30, 2008.

  1. mdjgirl7
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    mdjgirl7 Active Member

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    Give a starving man a fish he eats for a day. Teach a starving man how to fish and he can feed himself for the rest of his life.

    Obama wants to spread the wealth give you a fish for the day.

    McCain wants to create opportunity jobs so you can eat for the rest of your life.


    Simple
     
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  2. Life_Long_Dem!
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    Life_Long_Dem! Member

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    simple economics says that in the economic struggles we are in now tax hikes HAVE to happen, its inevitable,Obama is at least being open and honest with the public and saying I will raise taxes....on the wealthiest Americans that have gotten huge breaks over the last 8 years of Bush/Cheney. McCain saying that he wont raise taxes at all but pay for all these programs he is planning is ludicris! either he is a complete moron and knows nothing about economics or he is lying just to get elected, I say IF he wins he will be Bush senior all over again...remember the famous "Read my lips...NO new taxes"
     
  3. 9 Volt
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    9 Volt Shaking You Violently

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    McCain wants to spread the wealth. UP the chain. Why can't anyone see where your tax dollars go under Republican leadership? They go to the various PRIVATE companies that have been created to do the job of the government. The worse part: Our elected and appointed officials OWN huge equity stakes in these companies. Ever research how much PERSONAL wealth Cheney, Rumsfeld, Bakker, Schultz and other made ofo of 9/11?...and Obama is just as much a Capitalist as McCain, but it's a different means to the same end, at least Obama's plan will empower DOMESTIC interests through a societal economy. but we'll see.
     
  4. PoliticalChic
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    PoliticalChic Diamond Member

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    Do you remember the last time a democrat promised a middle class tax cut and then went back on his word, and instead gave one of the hugest tax increases? Do you remember Bubba? AKA Bill Clinton.
     
  5. DiamondDave
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    DiamondDave Army Vet

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    Still waiting for that Clinton middle class tax cut..
     
  6. Redneck
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    Redneck Member

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    Dem give a tax cut? NEVER..
     
  7. Truthmatters
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    Sometimes you have to give a man a fish while you teach him to fish so he doesnt starve before he learns how to fish.

    Cons always like simple short answers which keep them from having to fire up the brain cells and actually thinking a problem through.

    This is why they think idiots like Bush and Palin are great.


    Its time for the thinking people who actually look at all the aspects of the problem and truely solve it.

    America is tired of stupid sayings instead of real policy.
     
    Last edited: Oct 30, 2008
  8. Navy1960
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    Navy1960 Senior Member

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    The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93 Pub.L. 103-66, 107 Stat. 312, enacted 1993-08-10) was passed by the 103rd United States Congress and signed into law by President Bill Clinton. It has also been referred to as the Deficit Reduction Act of 1993. Part XIII, which dealt with taxes, is also called the Revenue Reconciliation Act of 1993.


    Specifics
    It created 36 percent and 39.6 income tax rates for individuals.
    It created a 35 percent income tax rate for corporations.
    The cap on Medicare taxes was repealed.
    Transportation fuels taxes were hiked by 4.3 cents per gallon.
    The taxable portion of Social Security benefits was raised.
    The phase-out of the personal exemption and limit on itemized deductions were permanently extended.


    The bill, which both raised taxes and cut government spending, has been credited as the major cause behind the deficit reduction and eventual surpluses during the 1990s, by sources such as the non-partisan Congressional Budget Office. [1] The theory holds that federal budget deficits increase both inflation and interest rates. These two phenomena are widely known to cause economic stagnation. Indeed, when inflation increases, often the Federal Reserve will raise interest rates to contain the inflation.

    The fact is and still remains you do not increase spending in a massive scale, then raise taxes on a select group to offer a tax cut for the middle class without reducing the deficit. To use the Clinton era tax increase as an example of how the Obama plan will work is a completely false comparison. One more thing to consider , when the Clinton tax plan was put into place the US economy had by that time experienced 8 quarters of continued growth. The economic environment we are in today is one of slow growth and no growth. The Barack Obama tax plan while appealing to the average income earner on the surface in the end will hurt not only the Middle class that Obama intends to help, but also the economy as a whole.
     
  9. Ravi
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    Ravi Diamond Member

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    So the bailout is channeling tax payer's money directly to the stockholders and CEO's of the companies that are in trouble.

    And somehow you people want me to believe that on top of these people GETTING taxpayer money they shouldn't have to pay taxes on it.

    Well, excuse me for thinking you are full of shit.
     
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  10. Truthmatters
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    Yeah that bill worked wonderfully.

    It was also written and past without one single republican vote. Gore had to come to the senate and vote to break the tie.

    When we have a Dem president and a Dem congress we will get some great budget control once more.
     

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