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December Home sales down 17%. The largest monthly drop in 40yrs. All that Tax Payer cash given to the corrupt Corporate Bankers and this is what we have to show for it. Yikes!
The next two paragraphs are excerpted from the article. Just these two proposals show that Obama lacks understanding of how to fix this economy.
***************************************************
The initiatives also focus on savings, requiring employers that don't offer work-based retirement plans to enroll their employees in a direct deposit retirement account, unless the employee opts out. The cost to employers would be offset by new tax credits, and the administration says the smallest firms would be exempt.
Obama will also call for caps on some student loans, limiting a borrower's payments to 10 percent of his or her income, and forgiving all remaining debt after 10 years of payment for those in public service work _ and 20 years for all others.
Obama to announce new initiatives for middle class - Road Runner
So once again Obama is saying that the people are irresponsible and need to have things set up for them to be responsible.
People are too irresponsible to read a credit card contract before signing. so now it is the responsibility of the credit card company.
People were too irresponsible to report their accurate incomes on the NINJA loan apps, so now the banks need to cover for them.
People are too irresponsible to save on their own, so the employers need to set it up for them.
Whatever happened to personal responsibility?
Yes, hindsight sucks. All those dumb people made their beds with no nudging from outside interests eager to make a buck off their ignorance. They shoulda known, dammit.
Seriously, what's the alternative? People living on the street and seeking government aid to feed their children and house them? It's still GOVERNMENT MONEY. At least there's some incentive in those programs for more people to take that personal responsibility that you say is lacking, and to which I agree. We've GOT to have more Americans educated, and student loans are choking them once they graduate. Doctors are more incentivized to go into consulting for Wall Street businesses where they can earn five times what they can actually practicing medicine. And that looks awfully good when someone is looking at tens of thousands in student loans (in many cases initiated by big banks at high interest rates, by the way).
The devil is in the details, and he is giving a freebie to his buds in civil service and making the private sector pull up the slack.
And cutting corporate taxes will do this.
Most corporations pay no taxes.
Study says most corporations pay no U.S. income taxes | Reuters
I think tax cuts are a good thing.
As far as I can tell none of the tax cuts are geared to creating jobs.
Obama to announce new initiatives for middle class - Road Runner
It seems that he is just trying to buy off the american people.
It looks like Obama is beginning to go in the right direction. He will probably pull a Bill Clinton pretty soon....
I knew all of our hollering would whip this guy into shape.
Nothing is going to whip this guy into shape, he is clueless about how the economy works.
Bill Clinton inherited a great economy that's why he recovered from his health care plan, he also did not promise everyone the moon when he campaigned. Clinton was more of a centrist, Obama is so far left he could be considered a commie. There's your difference.
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Bill Clinton inherited a great economy that's why he recovered from his health care plan, he also did not promise everyone the moon when he campaigned. Clinton was more of a centrist, Obama is so far left he could be considered a commie. There's your difference.
Bill Clinton inherited what?
Bill Clinton showed you that you could have a good economy and still pay the bills.
And signing the republican budgets was the way to do it.
The next two paragraphs are excerpted from the article. Just these two proposals show that Obama lacks understanding of how to fix this economy.
***************************************************
The initiatives also focus on savings, requiring employers that don't offer work-based retirement plans to enroll their employees in a direct deposit retirement account, unless the employee opts out. The cost to employers would be offset by new tax credits, and the administration says the smallest firms would be exempt.
Obama will also call for caps on some student loans, limiting a borrower's payments to 10 percent of his or her income, and forgiving all remaining debt after 10 years of payment for those in public service work _ and 20 years for all others.
Obama to announce new initiatives for middle class - Road Runner
So once again Obama is saying that the people are irresponsible and need to have things set up for them to be responsible.
People are too irresponsible to read a credit card contract before signing. so now it is the responsibility of the credit card company.
People were too irresponsible to report their accurate incomes on the NINJA loan apps, so now the banks need to cover for them.
People are too irresponsible to save on their own, so the employers need to set it up for them.
Whatever happened to personal responsibility?
Yes, hindsight sucks. All those dumb people made their beds with no nudging from outside interests eager to make a buck off their ignorance. They shoulda known, dammit.
Seriously, what's the alternative? People living on the street and seeking government aid to feed their children and house them? It's still GOVERNMENT MONEY. At least there's some incentive in those programs for more people to take that personal responsibility that you say is lacking, and to which I agree. We've GOT to have more Americans educated, and student loans are choking them once they graduate. Doctors are more incentivized to go into consulting for Wall Street businesses where they can earn five times what they can actually practicing medicine. And that looks awfully good when someone is looking at tens of thousands in student loans (in many cases initiated by big banks at high interest rates, by the way).
The Republican controlled Congress forced Clinton to balance the budget. That would not have happened if the Republicans didn't control Congress. Bill Clinton still runs around claiming all the credit for that but it really wouldn't have happened without a Republican controlled Congress. He can keep taking all the credit though because that is his prerogative. Presidents get blamed for everything when things go wrong so i guess it's ok for them to take all the credit for things when they go well. The reality is that the Republicans will have to gain some power back and force this President to get it together. I guess we'll see though.
Yup. The Reagan tax cuts created the longest economic expansion in American history and at the same time the federal government collected nearly double the revenue.
I think tax cuts are a good thing.
As far as I can tell none of the tax cuts are geared to creating jobs.
Obama to announce new initiatives for middle class - Road Runner
It seems that he is just trying to buy off the american people.
It looks like Obama is beginning to go in the right direction. He will probably pull a Bill Clinton pretty soon....
I knew all of our hollering would whip this guy into shape.
Nothing is going to whip this sock puppet into shape. He shows he still DOES NOT GET IT.
Tax cuts are simply taking money from one group and giving it to another. The only way the gov't can give a tax break to one group is to tax another group more.
None of his "tax cuts" will change people's behavior towards working harder, saving more, or investing more. In fact they will do the opposite.
"Tax cuts" in and of themselves are useless as a policy tool. They are effective ONLY when they are used to influence behavior to make people work harder etc. But Obama thinks that "tax cuts" are what people want.
This boy is going down hard.
The Republican controlled Congress forced Clinton to balance the budget. That would not have happened if the Republicans didn't control Congress. Bill Clinton still runs around claiming all the credit for that but it really wouldn't have happened without a Republican controlled Congress. He can keep taking all the credit though because that is his prerogative. Presidents get blamed for everything when things go wrong so i guess it's ok for them to take all the credit for things when they go well. The reality is that the Republicans will have to gain some power back and force this President to get it together. I guess we'll see though.
Oh please. Republicans LOVE to take credit for the boom years under Clinton, but it all came down to compromise, compromise, compromise.
In proposing a plan to cut the deficit, Clinton submitted a budget that would cut the deficit by $500 billion over five years by reducing $255 billion of spending and raising taxes on the wealthiest 1.2% of Americans.[27] It also imposed a new energy tax on all Americans and subjected about a quarter of those receiving Social Security payments to higher taxes on their benefits.[28]
Republican Congressional leaders launched an aggressive opposition against the bill, claiming that the tax increase would only make matters worse. Republicans were united in this opposition, as it were, and every Republican in both houses of Congress voted against the proposal. In fact, it took Vice President Gore's tie-breaking vote in the Senate to pass the bill.[29] After extensive lobbying by the Clinton Administration, the House narrowly voted in favor of the bill by a vote of 218 to 216.[30] The budget package expanded the Earned Income Tax Credit (EITC) as relief to low-income families. It reduced the amount they paid in federal income and Federal Insurance Contributions Act tax (FICA), providing $21 billion in relief for 15 million low-income families. Improved economic conditions and policies served to encourage investors in the bond market, leading to a decline in long-term interest rates. The bill contributed to dramatic decline of the budget deficit in the years following its enactment–in 1998, for the first time since 1969, the nation achieved a budget surplus.[31] The surplus money was used to pay down the national debt[citation needed], which had risen to $5.4 trillion by 1997. The economy continued to grow, and in February 2000 it broke the record for the longest uninterrupted economic expansion in U.S. history—lasting ten years.[32] In the year 2000, the nation was on track to be debt free for the first time since 1835.
After Republicans won control of Congress in 1994, Clinton vehemently fought their proposed tax cuts, believing that they favored the wealthy and would weaken economic growth. In August 1997, however, Clinton and Congressional Republicans were finally able to reach a compromise on a bill that reduced capital gain and estate taxes and gave taxpayers a credit of $500 per child and tax credits for college tuition and expenses. The bill also called for a new individual retirement account (IRA) called the Roth IRA to allow people to invest taxed income for retirement without having to pay taxes upon withdrawal. Additionally, the law raised the national minimum for cigarette taxes. The next year, Congress approved Clinton’s proposal to make college more affordable by expanding federal student financial aid through Pell Grants, and lowering interest rates on student loans.
Clinton also battled Congress nearly every session on the federal budget, in an attempt to secure spending on education, government entitlements, the environment, and AmeriCorps–the national service program that was passed by the Democratic Congress in the early days of the Clinton administration. The two sides, however, could not find a compromise and the budget battle came to a stalemate in 1995 over proposed cuts in Medicare, Medicaid, education, and the environment. After Clinton vetoed numerous Republican spending bills, Republicans in Congress twice refused to pass temporary spending authorizations, forcing the federal government to partially shut down because agencies had no budget on which to operate.[33]
In April 1996 Clinton and Congress finally agreed on a budget that provided money for government agencies until the end of the fiscal year in October. The budget included some of the spending cuts that the Republicans supported (decreasing the cost of cultural, labor, and housing programs) but also preserved many programs that Clinton wanted, including educational and environmental ones.
Yup. The Reagan tax cuts created the longest economic expansion in American history and at the same time the federal government collected nearly double the revenue.
That's a joke, right?
Some of you seem to forget that 2/3 of our economy is consumer spending. Anything the puts more money in the pockets of people who are going to spend it, will, create and save jobs at the places they spend their 'new' money.
well said....they should have taken the 14 trillion they blew on the banks and auto dealers and cut each us citizen a check for 20k....that would have stimulated the economy....
I think tax cuts are a good thing.
As far as I can tell none of the tax cuts are geared to creating jobs.
Obama to announce new initiatives for middle class - Road Runner
It seems that he is just trying to buy off the american people.
So once again Obama is saying that the people are irresponsible and need to have things set up for them to be responsible.
People are too irresponsible to read a credit card contract before signing. so now it is the responsibility of the credit card company.
People were too irresponsible to report their accurate incomes on the NINJA loan apps, so now the banks need to cover for them.
People are too irresponsible to save on their own, so the employers need to set it up for them.
Whatever happened to personal responsibility?
Yes, hindsight sucks. All those dumb people made their beds with no nudging from outside interests eager to make a buck off their ignorance. They shoulda known, dammit.
Seriously, what's the alternative? People living on the street and seeking government aid to feed their children and house them? It's still GOVERNMENT MONEY. At least there's some incentive in those programs for more people to take that personal responsibility that you say is lacking, and to which I agree. We've GOT to have more Americans educated, and student loans are choking them once they graduate. Doctors are more incentivized to go into consulting for Wall Street businesses where they can earn five times what they can actually practicing medicine. And that looks awfully good when someone is looking at tens of thousands in student loans (in many cases initiated by big banks at high interest rates, by the way).
No it's not government money, it's TAXPAYER's money
And cutting corporate taxes will do this.
Most corporations pay no taxes.
Study says most corporations pay no U.S. income taxes | Reuters
From your link- again they are talking sales NOT earnings or PROFIT. Profit- ie earnings are what corporations have left over after they have PAID all their bills, their employee's salaries, benefits, suppliers, etc. It's what's left over that they are taxed on and it's the 2nd highest in the world around 37%.
From your link:
During that time corporate sales in the United States totaled $2.5 trillion, according to Democratic Sens. Carl Levin of Michigan and Byron Dorgan of North Dakota, who requested the GAO study.
The report did not name any companies. The GAO said corporations escaped paying federal income taxes for a variety of reasons including operating losses, tax credits and an ability to use transactions within the company to shift income to low tax countries.
Note- some corporations don't show any profit or very little because there is none. Also from the last paragraph- " tax credits and an ability to use transactions within the company to shift income to LOW tax countries." If we were a low tax country there would be no reason for them to do this.
So once again Obama is saying that the people are irresponsible and need to have things set up for them to be responsible.
People are too irresponsible to read a credit card contract before signing. so now it is the responsibility of the credit card company.
People were too irresponsible to report their accurate incomes on the NINJA loan apps, so now the banks need to cover for them.
People are too irresponsible to save on their own, so the employers need to set it up for them.
Whatever happened to personal responsibility?
Yes, hindsight sucks. All those dumb people made their beds with no nudging from outside interests eager to make a buck off their ignorance. They shoulda known, dammit.
Seriously, what's the alternative? People living on the street and seeking government aid to feed their children and house them? It's still GOVERNMENT MONEY. At least there's some incentive in those programs for more people to take that personal responsibility that you say is lacking, and to which I agree. We've GOT to have more Americans educated, and student loans are choking them once they graduate. Doctors are more incentivized to go into consulting for Wall Street businesses where they can earn five times what they can actually practicing medicine. And that looks awfully good when someone is looking at tens of thousands in student loans (in many cases initiated by big banks at high interest rates, by the way).
You gotta be kiddin me, " GOVERNMENT MONEY"???????? Where the HELL do you think they get GOVERNMENT MONEY FROM????? The GOVERNMENT MONEY TREE that grows out on the front lawn of the WH??????????????
IT'S THE TAXPAYER'S MONEY!!!!!!!! GOOD GRIEF!!!! Where do you libs get your ideas.
No, it's called reality.
The Republican controlled Congress forced Clinton to balance the budget. That would not have happened if the Republicans didn't control Congress. Bill Clinton still runs around claiming all the credit for that but it really wouldn't have happened without a Republican controlled Congress. He can keep taking all the credit though because that is his prerogative. Presidents get blamed for everything when things go wrong so i guess it's ok for them to take all the credit for things when they go well. The reality is that the Republicans will have to gain some power back and force this President to get it together. I guess we'll see though.
Oh please. Republicans LOVE to take credit for the boom years under Clinton, but it all came down to compromise, compromise, compromise.
In proposing a plan to cut the deficit, Clinton submitted a budget that would cut the deficit by $500 billion over five years by reducing $255 billion of spending and raising taxes on the wealthiest 1.2% of Americans.[27] It also imposed a new energy tax on all Americans and subjected about a quarter of those receiving Social Security payments to higher taxes on their benefits.[28]
Republican Congressional leaders launched an aggressive opposition against the bill, claiming that the tax increase would only make matters worse. Republicans were united in this opposition, as it were, and every Republican in both houses of Congress voted against the proposal. In fact, it took Vice President Gore's tie-breaking vote in the Senate to pass the bill.[29] After extensive lobbying by the Clinton Administration, the House narrowly voted in favor of the bill by a vote of 218 to 216.[30] The budget package expanded the Earned Income Tax Credit (EITC) as relief to low-income families. It reduced the amount they paid in federal income and Federal Insurance Contributions Act tax (FICA), providing $21 billion in relief for 15 million low-income families. Improved economic conditions and policies served to encourage investors in the bond market, leading to a decline in long-term interest rates. The bill contributed to dramatic decline of the budget deficit in the years following its enactmentin 1998, for the first time since 1969, the nation achieved a budget surplus.[31] The surplus money was used to pay down the national debt[citation needed], which had risen to $5.4 trillion by 1997. The economy continued to grow, and in February 2000 it broke the record for the longest uninterrupted economic expansion in U.S. historylasting ten years.[32] In the year 2000, the nation was on track to be debt free for the first time since 1835.
After Republicans won control of Congress in 1994, Clinton vehemently fought their proposed tax cuts, believing that they favored the wealthy and would weaken economic growth. In August 1997, however, Clinton and Congressional Republicans were finally able to reach a compromise on a bill that reduced capital gain and estate taxes and gave taxpayers a credit of $500 per child and tax credits for college tuition and expenses. The bill also called for a new individual retirement account (IRA) called the Roth IRA to allow people to invest taxed income for retirement without having to pay taxes upon withdrawal. Additionally, the law raised the national minimum for cigarette taxes. The next year, Congress approved Clintons proposal to make college more affordable by expanding federal student financial aid through Pell Grants, and lowering interest rates on student loans.
Clinton also battled Congress nearly every session on the federal budget, in an attempt to secure spending on education, government entitlements, the environment, and AmeriCorpsthe national service program that was passed by the Democratic Congress in the early days of the Clinton administration. The two sides, however, could not find a compromise and the budget battle came to a stalemate in 1995 over proposed cuts in Medicare, Medicaid, education, and the environment. After Clinton vetoed numerous Republican spending bills, Republicans in Congress twice refused to pass temporary spending authorizations, forcing the federal government to partially shut down because agencies had no budget on which to operate.[33]
In April 1996 Clinton and Congress finally agreed on a budget that provided money for government agencies until the end of the fiscal year in October. The budget included some of the spending cuts that the Republicans supported (decreasing the cost of cultural, labor, and housing programs) but also preserved many programs that Clinton wanted, including educational and environmental ones.
They had a Newt Gingrich conservative congress during 1996 that dragged Clinton screaming and kicking to a balanced budget. See the elections of 1994 and again the conservative tsnami that took place then. Of course, that tsnami is gonna look like a small wave to the one that is coming in Nov 2010.
BTW- Clinton inherited a strong economy from the 2 terms of Ronald Reagan.
