Krugman nails it!

Discussion in 'Economy' started by taichiliberal, Nov 14, 2010.

  1. taichiliberal
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    taichiliberal BANNED

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    Paul Krugman is not someone that I agree with all the time, but even he sees the error of the National Commission on Fiscal Responsibility and Reform that Obama approved of. It's one of the reasons why he's lost a lot of confidence and support from the people that elected him:

    The Hijacked Commission
    By PAUL KRUGMAN
    Published: November 11, 2010

    http://www.nytimes.com/2010/11/12/op...n.html?_r=2&hp

    Actually, though, what the co-chairmen are proposing is a mixture of tax cuts and tax increases — tax cuts for the wealthy, tax increases for the middle class. They suggest eliminating tax breaks that, whatever you think of them, matter a lot to middle-class Americans — the deductibility of health benefits and mortgage interest — and using much of the revenue gained thereby, not to reduce the deficit, but to allow sharp reductions in both the top marginal tax rate and in the corporate tax rate.
     
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  2. uscitizen
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    uscitizen Senior Member

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    Obama is a tool of the corporatists.
    He is one of those who thinks if it is good for wall street it is good for America.

    Krugman has it about 1/4 figured out which puts him ahead of most of the economic "experts".
     
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  3. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    All this talk of tax cuts is just more bullshit. The US Government doesn't have a revenue problem, it has a spending problem.
     
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  4. loosecannon
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    loosecannon Senior Member

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    here is a link to the actual article:

    Paul Krugman: There’s nothing to like about deficit panel report | Viewpoints, Outlook | Chron.com - Houston Chronicle
     
  5. elvis
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    elvis BANNED Supporting Member

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    But he won a Nobel Prize. Oh wait, we just found out how significant that feat is.
     
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  6. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Krugman is a foaming at the mouth rabid moonbat.

    Just frelling stating the obvious.
     
  7. B. Kidd
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    B. Kidd Gold Member

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    Peter G. Peterson, founder of the the Foundation (founded only in 2008) of the same name is a prime mover behind the extra-legislative budget commission.
    Who is Peter G. Peterson?
    Billionaire former head of a private equity company called the Blackstone Group. He sold his shares to the public just before the economic crash. Peter Peterson is also a major player behind the Concord Coalition which is a leading deficit-hawk organization.

    Should social security ever be privatized, it would be a massive source of new profits for him and other Wall St. financial firms.
    Deficit hawks are not necessarily our(Main St.) friends.
    Krugman knows this.
     
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  8. B. Kidd
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    B. Kidd Gold Member

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    Also, alot of those new pro-deficit reduction commercials starting to hit the national airwaves this week are financed by the Peter G. Peterson Foundation (read the small print at the bottom of the commercials).
     
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  9. taichiliberal
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    taichiliberal BANNED

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    I wouldn't go as far as "tool", but he needs to get his head out of his ass by thinking his "right of center" policy is going to properly deal with the mess we are in.
     
  10. taichiliberal
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    taichiliberal BANNED

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    The government has a LACK of revenue because of LACK of proper taxing. Major corporations that are NOT paying their full share of income tax....tax breaks for folk WHO WOULD STILL BE RICH WITHOUT THOSE TAX BREAKS. And lets not forget that for 8 years you had an illegal invasion/occupation that was kept OFF THE BOOKS....a major spending problem that the GOP just don't want to deal with.
     
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