Tax cuts for the rich a mistake

[Mr Natural]

i used to do that, until 4 years ago when i tried to buy a new car and realized my credit sucked, so i closed off 50% of cards and payed them down and now my credit is close to 800...oh and it helps buying a house too

i dont' understand why governments get a pass on this kind of budgeting, not just federal, but most states...and i'm not just for cutting spending on entitlement programs, but all across the board

Cutting spending is a foreign concept to Americans.

Have you noticed the size of the houses they build or the cars we drive?

Everybody thniks they need to live like rock stars and ballplayers.

true. i didn't realize how far out of my means i lived until i met some rich democrats who are multimillionaires, yet drive 7 year old cars all worth under 30K, live in modest homes and one guy, who could have retired from work and never worked again golfed with 12 year old non name brand golf clubs, he finally broke down and bought some new ones for $1500....this guy is worth a hundred times more than most people...

so now i do my best to live under my means, it was hard, but you get used to it...

It's easy once you realize that satisfaction and fulfillment do not come through material possessions.

 

[JScott]

WASHINGTON (CNNMoney.com) -- Treasury Secretary Tim Geithner is expected Wednesday to back the idea of letting tax cuts for the wealthiest Americans lapse as a step toward getting the nation's fiscal house in order.

"Borrowing to finance tax cuts for the top 2% would be a $700 billion fiscal mistake," Geithner is expected to say, according to released excerpts of his prepared remarks before the Center for American Progress in Washington. "It's not the prescription the economy needs right now, and the country can't afford it."

Geithner backs letting tax cuts for wealthiest lapse - Aug. 4, 2010

Fuck em.

 

[PLYMCO_PILGRIM]

To hell with deficits and the national debt!

Cut taxes even more!

funny...when my budget sucks, i cut spending

You might be one of the responsible few.

Most people just whip out one of their many credit cards and carry on.

Not me I hold zero debt and have for almost 5 years now.

 

[PLYMCO_PILGRIM]

WASHINGTON (CNNMoney.com) -- Treasury Secretary Tim Geithner is expected Wednesday to back the idea of letting tax cuts for the wealthiest Americans lapse as a step toward getting the nation's fiscal house in order.

"Borrowing to finance tax cuts for the top 2% would be a $700 billion fiscal mistake," Geithner is expected to say, according to released excerpts of his prepared remarks before the Center for American Progress in Washington. "It's not the prescription the economy needs right now, and the country can't afford it."

Geithner backs letting tax cuts for wealthiest lapse - Aug. 4, 2010

Fuck em.

Do you make under $100,000/year? Just curious because if you do your going to get hit with a tax increase after they expire too. If you make $35,000/year you will have to pay the feds an additional $1000/year when they expire.

 

[Big Fitz]

Cutting spending is a foreign concept to Americans.

Have you noticed the size of the houses they build or the cars we drive?

Everybody thniks they need to live like rock stars and ballplayers.

The boomers have never been forced to sacrifice as a group in their lives. They taught their kids that never happens.

But the laws of economics say they will very soon have to cut spending and live on less. They're going to have a very cold October-December of their lives.

Uhh... what?????????

As compared to their parents who suffered through the great depression... or their great grandparents who had to deal with occasional bank panics and the new unregulated industrial age, rife with abuse and corruption in both private and public sector. The guilded age was a hard age to live in as compared to the Atomic and Information ages, economically speaking.