Obama's Speech Today Was SPOT ON!!

[boedicca]

What am I missing here?
According to the CBO we ran a deficit of 1.3 trillion in 2010 alone. Is cutting 4 trillion over twelve years steering the U.S.S. Titanic clear of icebergs?
Obamabots celebrate taxing the rich. Then why did the market close up today? Common sense would dictate the market should have closed on the downside if the rich was gonna get heavily taxed.
What am I missing here?

Here's what I wonder about:

Obama presented his budget in February. That one was supposedly his plan to get the economy on track. Is he now admitting that he was "just kidding"? And why should we believe him now?

 

[LibocalypseNow]

Typical bloated Government reaction. Blame the Taxpayers for them spending $15 Trillion more than they took in. How is that the Taxpayers' fault? Maybe i'm missing something? Yikes!

 

[Toro]

The speech wasn't spot on.

I applaud Obama for saying that we can't say we are going to cut foreign aid and wate to solve this. However the CBO estimates that the extension of the Bush tax cuts will cost the Treasury $3.5 trillion over the next decade. Obama's plan will reduce the debt by $4 trillion over that time, offsetting the cost of the Bush tax cuts. We will still tack on another $5-6 trillion in debt during that time. Thus both Obama's and Ryan's plan are not enough.

But at least we are talking about it. We can't solve it untill we acknowledge it.

 

[Avorysuds]

Good point really..

When are we going to stand up and say "We have been in these wars for ten years now and can no longer afford it"

These wars are luxuries when you have $14 trillion in debt

Get out NOW

RW, if it were not for the fact that I know you then yes, I'd agree. However, knowing you fully supported the Libya war and plan to vote for Obama who went out of his way to expand Afghanistan and 'pretend" Iraq is over and done with tells me you honestly don't give a shit.

You should really give that video a watch, I know it can't possibly change your mind and to be outright honest I dono if that video is accurate. However, lets say it's at least close, that's you getting everything you want or could hope for and it still fails.

Whereas I won’t watch Obama Speeches anymore as it takes seconds for him to prove he is full of shit (just like Bush was for me) I’m sure it was wonderful. Obama has now assured millions of poor people that taxing the rich will solve everything or at least make a big enough difference despite the fact that taxing the rich even at 90% we would still be running a fucking massively huge, overwhelming and ever growing deficit that is not being paid down. But hay, I guess before inflation hits and we have riots in the street for food Obama can say “I taxed the rich more, and that is fair.”

Libya is a minor excursion with limited US involvement. Give it time and I will see if we have overextended our stay

Afghanistan is 9 years, Iraq 7 years

Both cost big dollars that we are taking away from American people. I would rather pull out than cut peoples Medicare

I'd agree we should just get out and even before we cut Mcare Mcaide, however even ending those 2 wars and the Libya war won't stop the deficit from growing. As the video shows, even ending all wars, taxing 100%, selling all rich people’s homes cars and wtf else ever will not compensate for how fast the deficit is growing. The video also shows that after doing all of that to "rich people" (anyone over 250K) you have not managed to balance the budget for a single year, meaning the deficit is STILL GROWING.

I could understand the argument of “tax rich *lots* more” if this was the first time we have grown the deficit but 2 facts remain. One we have done this before and it does not work, it just passes the buck and secondly that this is only adding to an already bloated deficit meaning later you would still have to cut HUGE amounts of spending *trillions* at home.

Fact is RW, 100% tax rate on all rich people even if they still worked for 10 years and paid 100% taxes would not put a dent in the deficit and that’s what you’re supporting. It’s fucking crazy and illogical, the numbers just DON’T add up, not even come close.

 

[EriktheRed]

The speech wasn't spot on.

I applaud Obama for saying that we can't say we are going to cut foreign aid and wate to solve this. However the CBO estimates that the extension of the Bush tax cuts will cost the Treasury $3.5 trillion over the next decade. Obama's plan will reduce the debt by $4 trillion over that time, offsetting the cost of the Bush tax cuts. We will still tack on another $5-6 trillion in debt during that time. Thus both Obama's and Ryan's plan are not enough.

this is why I never thought the other stuff that got done during the lame duck session last year was worth caving on the Bush tax cuts extension.

 

[DiamondDave]

We're NOT going to tax those of us who are most vulnerable and are going to ask those of us who have PROFITED the most from the system to PAY THEIR FAIR SHARE.

It's all about SHARED SACRIFICE.

Remember that Republicans?

Kudos Obama...way to win back your support.

And the "fair share" of the ~48% that pay no income taxes??

Your subjective "fairness" is goddamn disgusting... I'll take equal treatment by government over your subjective emotional "fairness" any day of the week

 

[LibocalypseNow]

Why don't they stop bombing Libya? Could probably save a few Bucks there no? Why is it always the Taxpayers' fault with this President & Democrats? The Taxpayers didn't spend us $15 Trillion into Debt. The Government did that. Taxpayers just sent their hard-earned money in and then the Government went on to spend $15 Trillion more than they took in. It's time to stop blaming the Taxpayers. It's time to blame the Government.

 

[Toro]

What am I missing here?
According to the CBO we ran a deficit of 1.3 trillion in 2010 alone. Is cutting 4 trillion over twelve years steering the U.S.S. Titanic clear of icebergs?
Obamabots celebrate taxing the rich. Then why did the market close up today? Common sense would dictate the market should have closed on the downside if the rich was gonna get heavily taxed.
What am I missing here?

1. Contrary to popular opininion, deficits are supportive of markets and cutting deficits put a headwind on the market in the near-term.
2. Market reactions are all about expectations. If the market thinks something is going to be really bad and it's just bad, the market will rise.
3. Markets have their rythyms away from politics. Political people put too much stock in politics when trying to gauge the market.

 

[Seawytch]

Representatives are supposed to be representing the people right? Guess what the people want?

Most Americans say tax rich to balance budget

Let's try for Eisenhower tax rates and then bargain down to Reagan tax rates.

 

[DiamondDave]

Umm "those of us who are most vulnerable" Pay no Federal Taxes WOW ya that was spot on

Massive deductions sure do have a way of taking those tax liabilities down to nothing, don't they?

get rid of deductions, loopholes, complex formulas, and complicated laws around it all... no argument from me there... have everyone paying an equal % share...

Your massive deduction to zero income tax liability for a vast number of citizens, is the disgusting one

 

[The T]

Oh goody! Another campaign speech where Obama has announced stepping up Class Warfare.

Will it be shock and awe?

 

[The Rabbi]

Representatives are supposed to be representing the people right? Guess what the people want?

Most Americans say tax rich to balance budget

Let's try for Eisenhower tax rates and then bargain down to Reagan tax rates.

Let's put you up against the wall and pull the trigger.
In fact the wealthy's (which is a misnomer but anyway) share of the tax burden has gone up every year.

What we see here is what Franklin (or someone) predicted: The have-nots being more numerous would grab what they could from the haves, eventually destroying the system.

 

[kwc57]

Glenn Reynolds of Instapundit has a great idea for Shared Sacrifice:

Anybody who works for the government should pay a big tax surcharge if he or she takes a high paying job in the private sector for a five year period after leaving the government. Taxpayers have "invested" in that person's marketability, and deserve a return.

Here's how it would work:

- Gubmint worker's federal salary was $150K per year.
- Gubmint worker's compensation at Wall St. bank or lobbying firm is $1M.
- Gubmitn worker pays "windfall compensation tax" of 50%, or even better 90% on the $850K of additional comp above his federal salary.

Thats the way they used to do it in the Soviet Union

They thought they owned you

As opposed to the US where liberals think the gubmint is a big old teat to feed off of? Shouldn't most Americans be weaned by now?

 

[Avatar4321]

The debt is too large for gimmicks

ALL Areas must be up for scrutiny including taxes, social security, the military, entitlements.....

GOP wants to balance the budget on Medicare, Planned Parenthood and Public TV

All areas are up for scrutiny.

 

[The T]

Representatives are supposed to be representing the people right? Guess what the people want?

Most Americans say tax rich to balance budget

Let's try for Eisenhower tax rates and then bargain down to Reagan tax rates.

Let's put you up against the wall and pull the trigger.
In fact the wealthy's (which is a misnomer but anyway) share of the tax burden has gone up every year.

What we see here is what Franklin (or someone) predicted: The have-nots being more numerous would grab what they could from the haves, eventually destroying the system.

And what Obama seems to ignore (as do most Statists), is that government cannot spend this nation into prosperity. The best thing they can do is get out of the way.

 

[Soggy in NOLA]

Today's speech was disgraceful, partisan demagoguing to his whackaloon base.

Obama is a disgrace... 2012 can't come soon enough.

 

[WillowTree]

We're NOT going to tax those of us who are most vulnerable and are going to ask those of us who have PROFITED the most from the system to PAY THEIR FAIR SHARE.

It's all about SHARED SACRIFICE.

Remember that Republicans?

Kudos Obama...way to win back your support.

Well, I have a question. If you aren't paying anything what part of sacrifice are your contributions?? It's hard word to take other people's money and call it a sacrifice huh?? What a load of shit.

 

[The Rabbi]

We're NOT going to tax those of us who are most vulnerable and are going to ask those of us who have PROFITED the most from the system to PAY THEIR FAIR SHARE.

What is this "those of us who are the most vulnerable" shit? You would be hard pressed to find someone more privileged than the Obamas. He has a hell of a nerve presenting himself as being on their side. What has Obama done for the black community in two years?

 

[boedicca]

We're NOT going to tax those of us who are most vulnerable and are going to ask those of us who have PROFITED the most from the system to PAY THEIR FAIR SHARE.

What is this "those of us who are the most vulnerable" shit? You would be hard pressed to find someone more privileged than the Obamas. He has a hell of a nerve presenting himself as being on their side. What has Obama done for the black community in two years?

You mean besides eroding their purchasing power by making food and gasoline more expensive?

 

[Soggy in NOLA]

We're NOT going to tax those of us who are most vulnerable and are going to ask those of us who have PROFITED the most from the system to PAY THEIR FAIR SHARE.

What is this "those of us who are the most vulnerable" shit? You would be hard pressed to find someone more privileged than the Obamas. He has a hell of a nerve presenting himself as being on their side. What has Obama done for the black community in two years?

WTF? The man's never worked a day in his life! Obama is a prime example of the privileged class that he so routinely dismisses. What a fucking joke. What imbecile is buying any of this?

Oh, MarcATL is... my bad.