Moody's Predicts Democrat Landslide

[Roudy]

No problem, the wealthier are indeed paying more than their fair share of taxes.

So you demand more out of those who have the least to give

That's the way of the nobility! They take all and demand more from the serfs.

Total misrepresentation and lie. Nobody on the republican side has proposed a tax increase for the poor. The Democrats have not only raised taxes on those that make less, but made life a lot more difficult for them.

02/13/12

House GOP leaders drop demand that payroll tax cut be offset

House Republicans said Monday that they would offer a measure to extend the current payroll tax cut for the rest of the year, dropping a previous demand that the tax break be offset.

House GOP leaders drop demand that payroll tax cut be offset

THE TAX ON THE BOTTOM 98% OF US, WHERE WAS THE OFFSET DEMANDS FOR BUSH TAX CUTS? lol


August 24, 2011

The GOP demand for higher middle-class taxes


President Obama has been increasingly vocal in recent months about his support for an extension of the payroll tax break approved late last year, hoping that it would help boost economic demand. Congressional Republicans have also been increasingly vocal about their opposition — in effect, the GOP is pushing for a middle-class tax increase to kick in early next year.

I argued the other day that Republicans are probably bluffing — they want the same cut as Obama, but will only approve it if they can trade it for something else. I was promptly told by a variety of people that I’m wrong, and that the GOP is genuinely hostile to any tax breaks that don’t benefit the wealthy almost exclusively. I’m beginning to think those who called me out on this have a compelling point.

Harold Meyerson has a good take today on the larger context.

America’s presumably anti-tax party wants to raise your taxes. Come January, the Republicans plan to raise the taxes of anyone who earns $50,000 a year by $1,000, and anyone who makes $100,000 by $2,000.

Their tax hike doesn’t apply to income from investments. It doesn’t apply to any wage income in excess of $106,800 a year. It’s the payroll tax that they want to raise — to 6.2 percent from 4.2 percent of your paycheck, a level established for one year in December’s budget deal at Democrats’ insistence. Unlike the capital gains tax, or the low tax rates for the rich included in the Bush tax cuts, or the carried interest tax for hedge fund operators (which is just 15 percent), the payroll tax chiefly hits the middle class and the working poor.


And when taxes come chiefly from the middle class and the poor, all those anti-tax right-wingers have no problem raising them.

Do you consider these as "tax breaks"...i.e. "loopholes"?

View attachment 49390

What about that gigantic tax deduction "loophole" that allows employers to deduct the health insurance premiums? $171 billion!
Maybe drop that onerous deduction employers take for pension contributions? $138 billion
Definitely mortgage interest deduction that will slap those evil corporations! $87 billion
OH and let's do away with the deductions to charities! People don't need no sticking charity deductions! $33 billion!
Right let's do away with the SS benefits paid to retired workers! $26 billion
Child Credit? My goodness why are we allowing parents to deduct the payments made to take care of kids? $24 billion!
And of course most middle class people they don't need those sticking deductions for capitals when they sell their home! $16 billion!

Over $495 billion in evil, ugly tax deductions, LOOPHOLES ! All that totally benefit the "MIDDLE" class and "POOR"! YEA do away with them all!
NO LOOPHOLES!


The Top 20 Tax Expenditures - Business Insider

But don't forget, Obama and the democrats are all about helping the middle class. And what a magnificent job they've done so far. Ha ha ha.

 

[Dad2three]

No problem, the wealthier are indeed paying more than their fair share of taxes.

So you demand more out of those who have the least to give

That's the way of the nobility! They take all and demand more from the serfs.

Total misrepresentation and lie. Nobody on the republican side has proposed a tax increase for the poor. The Democrats have not only raised taxes on those that make less, but made life a lot more difficult for them.

02/13/12

House GOP leaders drop demand that payroll tax cut be offset

House Republicans said Monday that they would offer a measure to extend the current payroll tax cut for the rest of the year, dropping a previous demand that the tax break be offset.

House GOP leaders drop demand that payroll tax cut be offset

THE TAX ON THE BOTTOM 98% OF US, WHERE WAS THE OFFSET DEMANDS FOR BUSH TAX CUTS? lol


August 24, 2011

The GOP demand for higher middle-class taxes


President Obama has been increasingly vocal in recent months about his support for an extension of the payroll tax break approved late last year, hoping that it would help boost economic demand. Congressional Republicans have also been increasingly vocal about their opposition — in effect, the GOP is pushing for a middle-class tax increase to kick in early next year.

I argued the other day that Republicans are probably bluffing — they want the same cut as Obama, but will only approve it if they can trade it for something else. I was promptly told by a variety of people that I’m wrong, and that the GOP is genuinely hostile to any tax breaks that don’t benefit the wealthy almost exclusively. I’m beginning to think those who called me out on this have a compelling point.

Harold Meyerson has a good take today on the larger context.

America’s presumably anti-tax party wants to raise your taxes. Come January, the Republicans plan to raise the taxes of anyone who earns $50,000 a year by $1,000, and anyone who makes $100,000 by $2,000.

Their tax hike doesn’t apply to income from investments. It doesn’t apply to any wage income in excess of $106,800 a year. It’s the payroll tax that they want to raise — to 6.2 percent from 4.2 percent of your paycheck, a level established for one year in December’s budget deal at Democrats’ insistence. Unlike the capital gains tax, or the low tax rates for the rich included in the Bush tax cuts, or the carried interest tax for hedge fund operators (which is just 15 percent), the payroll tax chiefly hits the middle class and the working poor.


And when taxes come chiefly from the middle class and the poor, all those anti-tax right-wingers have no problem raising them.

Do you consider these as "tax breaks"...i.e. "loopholes"?

View attachment 49390

What about that gigantic tax deduction "loophole" that allows employers to deduct the health insurance premiums? $171 billion!
Maybe drop that onerous deduction employers take for pension contributions? $138 billion
Definitely mortgage interest deduction that will slap those evil corporations! $87 billion
OH and let's do away with the deductions to charities! People don't need no sticking charity deductions! $33 billion!
Right let's do away with the SS benefits paid to retired workers! $26 billion
Child Credit? My goodness why are we allowing parents to deduct the payments made to take care of kids? $24 billion!
And of course most middle class people they don't need those sticking deductions for capitals when they sell their home! $16 billion!

Over $495 billion in evil, ugly tax deductions, LOOPHOLES ! All that totally benefit the "MIDDLE" class and "POOR"! YEA do away with them all!
NO LOOPHOLES!


The Top 20 Tax Expenditures - Business Insider

Benefit the middle class/Poor? lol

Over half of cap gains/dividends go to the top 1/10th of 1%, middle class? lol

Oh right they ONLY "gave" those things BECAUSE they are generous right dummy?

 

[Dad2three]

So you demand more out of those who have the least to give

Is the solution to take more and more? The rich are usually driven, successful, innovative, educated people who worked hard to get there. And they create future generations of educated, innovative successful people. With exception of a few who are born with silver spoons up their anuses. Instead of celebrating and emulating success, the left under Obama has become a party that wants to criminalize success or wealth. They will not be happy until they tax 98% of anything people earn over a certain number they feel is "acceptable" ie $50,000. Marxism didn't work.

The rich abide by the Golden Rule...he who has the gold, makes the rules

They have duped the American people with supply side myth and bogus titles like "job creator"

Meanwhile, the middle class is disappearing and the American Dream is all but gone

I don't think so, the wealthy people I know have made it the hard way. And they still work like dogs to Maintain their standard of living.

If they make under $2 million a year, they are working hard subsidizing the Rich. Rich people making over $2 million a year are not working hard. They riding on subsidy & tax avoidance while portraying a work illusion that you fell for hook line & sinker.

Right. All the people making over 2 million a year are sitting in their asses living off the "poor". Damn! Do you even listen to your warped logic? So all those people making from like 500,000 to two million aren't rich? Aren't they also successful people who are working hard in high paying professions or have successful businesses trying to maintain their lifestyle that THEY created for themselves.

But according to you Obama cool aid drinkers, "they didn't build that" remember? So let's demonize and criminalize a whole class of people, tax the fuck out of them, and take away everything they have achieved, in order to create more voters for the Democrat socialist party.

 

[Dad2three]

So you demand more out of those who have the least to give

Is the solution to take more and more? The rich are usually driven, successful, innovative, educated people who worked hard to get there. And they create future generations of educated, innovative successful people. With exception of a few who are born with silver spoons up their anuses. Instead of celebrating and emulating success, the left under Obama has become a party that wants to criminalize success or wealth. They will not be happy until they tax 98% of anything people earn over a certain number they feel is "acceptable" ie $50,000. Marxism didn't work.

The rich abide by the Golden Rule...he who has the gold, makes the rules

They have duped the American people with supply side myth and bogus titles like "job creator"

Meanwhile, the middle class is disappearing and the American Dream is all but gone

I don't think so, the wealthy people I know have made it the hard way. And they still work like dogs to Maintain their standard of living.

So do poor people.....only they are meagerly compensated for their labor

Look that's life, you can't blame someone who works hard, gets an education, or finds a way to become successful. There will always be more poor people than rich. Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work? The same people that leftist radicals like Obama claim to be looking out for are the ones that are suffering the most because of their ideology.

 

[EriktheRed]

Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work?

Back up that "create" part.

 

[healthmyths]

boo-hoo! Those meanie rich koch brothers and all those evil capitalists wealthy 1%!

 

[rightwinger]

So you demand more out of those who have the least to give

Is the solution to take more and more? The rich are usually driven, successful, innovative, educated people who worked hard to get there. And they create future generations of educated, innovative successful people. With exception of a few who are born with silver spoons up their anuses. Instead of celebrating and emulating success, the left under Obama has become a party that wants to criminalize success or wealth. They will not be happy until they tax 98% of anything people earn over a certain number they feel is "acceptable" ie $50,000. Marxism didn't work.

The rich abide by the Golden Rule...he who has the gold, makes the rules

They have duped the American people with supply side myth and bogus titles like "job creator"

Meanwhile, the middle class is disappearing and the American Dream is all but gone

I don't think so, the wealthy people I know have made it the hard way. And they still work like dogs to Maintain their standard of living.

So do poor people.....only they are meagerly compensated for their labor

Look that's life, you can't blame someone who works hard, gets an education, or finds a way to become successful. There will always be more poor people than rich. Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work? The same people that leftist radicals like Obama claim to be looking out for are the ones that are suffering the most because of their ideology.

Supply side economics created a perfect vehicle to starve the poor and freeze the middle class. Keep workers hungry, make them worry about their jobs, make it clear they can be replaced in an instant

Best way to ensure the rich get richer and stay that way

 

[Roudy]

Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work?

Back up that "create" part.

Probably the most anti business anti capitalist president we've had. No need to elaborate.

 

[Synthaholic]

1/2 the country pays no taxes

Liar. Everyone pays taxes when they buy something. Everyone pays taxes on their telephone service, internet connection, auto registration and plates, sanitation service, property (or it's built into the rent), and many other.

Maybe you're just willfully ignorant.

 

[Synthaholic]

Whatever! It wasn't Bush.

Certainly was. It was his policies that pushed people toward an "ownership society" His words

And then his administration changed lending rules and encouraged the writing of mortgages through tax and minimum standards changes.

Bush owns it totally.

 

[Roudy]

Is the solution to take more and more? The rich are usually driven, successful, innovative, educated people who worked hard to get there. And they create future generations of educated, innovative successful people. With exception of a few who are born with silver spoons up their anuses. Instead of celebrating and emulating success, the left under Obama has become a party that wants to criminalize success or wealth. They will not be happy until they tax 98% of anything people earn over a certain number they feel is "acceptable" ie $50,000. Marxism didn't work.

The rich abide by the Golden Rule...he who has the gold, makes the rules

They have duped the American people with supply side myth and bogus titles like "job creator"

Meanwhile, the middle class is disappearing and the American Dream is all but gone

I don't think so, the wealthy people I know have made it the hard way. And they still work like dogs to Maintain their standard of living.

So do poor people.....only they are meagerly compensated for their labor

Look that's life, you can't blame someone who works hard, gets an education, or finds a way to become successful. There will always be more poor people than rich. Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work? The same people that leftist radicals like Obama claim to be looking out for are the ones that are suffering the most because of their ideology.

Supply side economics created a perfect vehicle to starve the poor and freeze the middle class. Keep workers hungry, make them worry about their jobs, make it clear they can be replaced in an instant

Best way to ensure the rich get richer and stay that way

And what has Obama's taxing the hell out of people and attacking businesses and over regulation brought us? His policies have affected back people the worst, highest up black unemployment, highest crime, etc.

Going from extreme right to extreme left isn't going to do it.

 

[Roudy]

Whatever! It wasn't Bush.

Certainly was. It was his policies that pushed people toward an "ownership society" His words

And then his administration changed lending rules and encouraged the writing of mortgages through tax and minimum standards changes.

Bush owns it totally.

Keep up, it was democrats and their policies that forced banks to give out shady loans to people who weren't qualified. I showed you who the responsible parties were.

 

[EriktheRed]

Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work?

Back up that "create" part.

Probably the most anti business anti capitalist president we've had. No need to elaborate.

IOW, you can't back it up.

 

[Roudy]

boo-hoo! Those meanie rich koch brothers and all those evil capitalists wealthy 1%!

LOL. Democrats have made an industry out of attacking billionaires and changing the definition of "rich". They do this with everything. They can't use the word Islamist or terrorist either. An Islamist is an extremist and a terrorist is an "activist". Ha ha ha.

 

[EriktheRed]

The rich abide by the Golden Rule...he who has the gold, makes the rules

They have duped the American people with supply side myth and bogus titles like "job creator"

Meanwhile, the middle class is disappearing and the American Dream is all but gone

I don't think so, the wealthy people I know have made it the hard way. And they still work like dogs to Maintain their standard of living.

So do poor people.....only they are meagerly compensated for their labor

Look that's life, you can't blame someone who works hard, gets an education, or finds a way to become successful. There will always be more poor people than rich. Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work? The same people that leftist radicals like Obama claim to be looking out for are the ones that are suffering the most because of their ideology.

Supply side economics created a perfect vehicle to starve the poor and freeze the middle class. Keep workers hungry, make them worry about their jobs, make it clear they can be replaced in an instant

Best way to ensure the rich get richer and stay that way

And what has Obama's taxing the hell out of people and attacking businesses and over regulation brought us? His policies have affected back people the worst, highest up black unemployment, highest crime, etc.

Going from extreme right to extreme left isn't going to do it.

More shit you just throw out, but can't actually back up.

 

[Roudy]

Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work?

Back up that "create" part.

Probably the most anti business anti capitalist president we've had. No need to elaborate.

IOW, you can't back it up.

Oh sorry my bad business just loves Obama.

One entity demonized about as much as the police by Obama, and that's businesses.

 

[EriktheRed]

Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work?

Back up that "create" part.

Probably the most anti business anti capitalist president we've had. No need to elaborate.

IOW, you can't back it up.

Oh sorry my bad business just love Obama.

One entity demonized about as much as the police by Obama, and that's businesses.

 

[Roudy]

Is the solution to take more and more? The rich are usually driven, successful, innovative, educated people who worked hard to get there. And they create future generations of educated, innovative successful people. With exception of a few who are born with silver spoons up their anuses. Instead of celebrating and emulating success, the left under Obama has become a party that wants to criminalize success or wealth. They will not be happy until they tax 98% of anything people earn over a certain number they feel is "acceptable" ie $50,000. Marxism didn't work.

The rich abide by the Golden Rule...he who has the gold, makes the rules

They have duped the American people with supply side myth and bogus titles like "job creator"

Meanwhile, the middle class is disappearing and the American Dream is all but gone

I don't think so, the wealthy people I know have made it the hard way. And they still work like dogs to Maintain their standard of living.

If they make under $2 million a year, they are working hard subsidizing the Rich. Rich people making over $2 million a year are not working hard. They riding on subsidy & tax avoidance while portraying a work illusion that you fell for hook line & sinker.

Right. All the people making over 2 million a year are sitting in their asses living off the "poor". Damn! Do you even listen to your warped logic? So all those people making from like 500,000 to two million aren't rich? Aren't they also successful people who are working hard in high paying professions or have successful businesses trying to maintain their lifestyle that THEY created for themselves.

But according to you Obama cool aid drinkers, "they didn't build that" remember? So let's demonize and criminalize a whole class of people, tax the fuck out of them, and take away everything they have achieved, in order to create more voters for the Democrat socialist party.

 

[Synthaholic]

You see the low point on the right side of the map? The bar that says '07 under it? That's when Democrats started to control Congress.....

Remind us again who Barney Frank was and the role he played?

Frank's fingerprints are all over the financial fiasco - The Boston Globe

Frank's fingerprints are all over the financial fiasco
'THE PRIVATE SECTOR got us into this mess. The government has to get us out of it."

That's Barney Frank's story, and he's sticking to it. As the Massachusetts Democrat has explained it in recent days, the current financial crisis is the spawn of the free market run amok, with the political class guilty only of failing to rein the capitalists in. The Wall Street meltdown was caused by "bad decisions that were made by people in the private sector," Frank said; the country is in dire straits today "thanks to a conservative philosophy that says the market knows best." And that philosophy goes "back to Ronald Reagan, when at his inauguration he said, 'Government is not the answer to our problems; government is the problem.' "

In fact, that isn't what Reagan said. His actual words were: "In this present crisis, government is not the solution to our problem; government is the problem." Were he president today, he would be saying much the same thing.

Because while the mortgage crisis convulsing Wall Street has its share of private-sector culprits -- many of whom have been learning lately just how pitiless the private sector’s discipline can be -- they weren't the ones who "got us into this mess." Barney Frank's talking points notwithstanding, mortgage lenders didn't wake up one fine day deciding to junk long-held standards of creditworthiness in order to make ill-advised loans to unqualified borrowers. It would be closer to the truth to say they woke up to find the government twisting their arms and demanding that they do so - or else.

The roots of this crisis go back to the Carter administration. That was when government officials, egged on by left-wing activists, began accusing mortgage lenders of racism and "redlining" because urban blacks were being denied mortgages at a higher rate than suburban whites.

The pressure to make more loans to minorities (read: to borrowers with weak credit histories) became relentless. Congress passed the Community Reinvestment Act, empowering regulators to punish banks that failed to "meet the credit needs" of "low-income, minority, and distressed neighborhoods." Lenders responded by loosening their underwriting standards and making increasingly shoddy loans. The two government-chartered mortgage finance firms, Fannie Mae and Freddie Mac, encouraged this "subprime" lending by authorizing ever more "flexible" criteria by which high-risk borrowers could be qualified for home loans, and then buying up the questionable mortgages that ensued.

All this was justified as a means of increasing homeownership among minorities and the poor. Affirmative-action policies trumped sound business practices. A manual issued by the Federal Reserve Bank of Boston advised mortgage lenders to disregard financial common sense. "Lack of credit history should not be seen as a negative factor," the Fed's guidelinesinstructed. Lenders were directed to accept welfare payments and unemployment benefits as "valid income sources" to qualify for a mortgage. Failure to comply could mean a lawsuit.

As long as housing prices kept rising, the illusion that all this was good public policy could be sustained. But it didn't take a financial whiz to recognize that a day of reckoning would come. "What does it mean when Boston banks start making many more loans to minorities?" I asked in this space in 1995. "Most likely, that they are knowingly approving risky loans in order to get the feds and the activists off their backs . . . When the coming wave of foreclosures rolls through the inner city, which of today's self-congratulating bankers, politicians, and regulators plans to take the credit?"

Frank doesn't. But his fingerprints are all over this fiasco. Time and time again, Frank insisted that Fannie Mae and Freddie Mac were in good shape. Five years ago, for example, when the Bush administration proposed much tighter regulation of the two companies, Frank was adamant that "these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis." When the White House warned of "systemic risk for our financial system" unless the mortgage giants were curbed, Frank complained that the administration was more concerned about financial safety than about housing.

Now that the bubble has burst and the "systemic risk" is apparent to all, Frank blithely declares: "The private sector got us into this mess." Well, give the congressman points for gall. Wall Street and private lenders have plenty to answer for, but it was Washington and the political class that derailed this train. If Frank is looking for a culprit to blame, he can find one suspect in the nearest mirror.

Financial Crisis Inquiry Commission: Fannie And Freddie "Followed Rather Than Led Wall Street And Other Lenders In The Rush For Fool's Gold."

McClatchy: During Bubble Years, "Private Investment Banks -- Not Fannie And Freddie -- Dominated The Mortgage Loans That Were Packaged And Sold."

McClatchy: "Federal Housing Data Reveal That Charges" Against Fannie And Freddie "Aren't True."


Investor Barry Ritholz: Narrative That Fannie/Freddie Caused The Crisis Is "The Big Lie" Of Financial Crisis.

Wall Street has its own version: Its Big Lie is that banks and investment houses are merely victims of the crash. You see, the entire boom and bust was caused by misguided government policies. It was not irresponsible lending or derivative or excess leverage or misguided compensation packages, but rather long-standing housing policies that were at fault.

Indeed, the arguments these folks make fail to withstand even casual scrutiny. But that has not stopped people who should know better from repeating them.

[...]

Congress did radically deregulate the financial sector, doing away with many of the protections that had worked for decades. Congress allowed Wall Street to self-regulate, and the Fed the turned a blind eye to bank abuses.

The previous Big Lie -- the discredited belief that free markets require no adult supervision -- is the reason people have created a new false narrative.


What caused the financial crisis? The Big Lie goes viral

Whatever! It wasn't Bush.

Wow! Racist AND homophobic!

 

[Roudy]

Has Obama helped the poor by creating an environment where you have record number on govt subsidies and out of work and no longer looking for work?

Back up that "create" part.

Probably the most anti business anti capitalist president we've had. No need to elaborate.

IOW, you can't back it up.

Oh sorry my bad business just love Obama.

One entity demonized about as much as the police by Obama, and that's businesses.