The People's Budget

[georgephillip]

Irrelvance stacked on top of irrelevance does not make the irrelevant relevant.

Besides, GE is a big time friend of the current regime....Best not get on Boiking's enemies list!

Are jobs more relevant than profits in your world?

Fourth quarter profits at US businesses were up 29.2 % their fastest growth in more than 60 years.

"Collectively, American corporations logged profits at an annual rate of $1.678 trillion. And to add insult to injury, the top executives, who seem unable or unwilling to create jobs or adequately reward their workers, have increased their own compensation by a whopping 12 percent over the previous year, setting the median pay at $9.6 million per year for those in control of the leading 200 companies.

"The Times adds that 'C.E.O. pay is also on the rise again at companies like Capital One and Goldman Sachs, which survived the economic storm with the help of all of those taxpayer-financed bailouts.'”

Where would the rich be without the US taxpayers?

The False Debate on the Debt | Common Dreams

 

[georgephillip]

How about no?

No to Social Security? Medicare and Medicaid? K-12 education or heating oil assistance to low income families and student loans?

Yes to GE and Goldman Sachs?

I say NO to it all. Let's let the country just stop and after the leeches have died off because they don't know how to do anything but cash a check and smoke pot or drink, we can clean the mess up and start over with a clean slate. Just like Jefferson advocated.

What do you say to this?

"Schakowsky millionaire tax rates proposal (adding 45%, 46%, 47%, 48%, and 49% top rates)
The Schakowsky plan creates five additional income tax brackets, starting at 45 percent for married
couples making over $1 million dollars a year and increasing to 49 percent for people making $1
billion and over. The current top tax rate is 35 percent for people making $379,150 a year or more.

Any reason Jefferson would support billionaires?

http://grijalva.house.gov/uploads/The%20CPC%20FY2012%20Budget.pdf

 

[georgephillip]

Nice try at changing the subject.....NOT!

Face it, that pinko bullshit "People's Budget" is DOA.

Face it.

When 90% of Americans discover there's a class war going on, they won't be among the DOA.

Face it, you really suck at trying to change the subject.

Face it.

You're a fascist in denial of its own impending demise.

Maybe you should learn Mandarin?

 

[Quantum Windbag]

Ah the "50% don't pay taxes" myth...

If you work, you pay taxes, period. Income taxes are just one part of the pie, and everybody with a job pays employment taxes.

If you work you pay taxes, and less than half the population works.

More Americans leaving the workforce - USATODAY.com

You loose.

And approximately 80% of those who don't work are either retired or are too young to work or are still in school. Those who are retired have paid their taxes, and if they still have investment income, then they pay taxes on that. In the end, that leaves somewhere around 10% of the population that doesn't work that could be working.

The argument here is about Willow telling 50% of people to STFU because they don't pay any taxes. It's an untrue statement. Your point that we have a problem because fewer people working is noted. And that is just another reason we need to raise the retirement age. People need to get used to the fact that they are going to have to work longer.

Did you even read the link I posted? Those statistics are not based on workforce participation, not total population. Feel free to ignore reality though.

 

[Oddball]

Face it.

When 90% of Americans discover there's a class war going on, they won't be among the DOA.

Face it, you really suck at trying to change the subject.

Face it.

You're a fascist in denial of its own impending demise.

Maybe you should learn Mandarin?

So, you can't change the subject and that makes me a fascist?

Nope...That makes you a douchebag.

 

[georgephillip]

See if you can respond to this with SNORTING like a stupid sow:

"Defense Savings
• End overseas contingency operations emergency supplementals starting in Fiscal Year 2013,
providing $170 billion in FY2012 to fund redeployment, while saving more than $1.8 trillion
from current law spending levels over ten years.
• Reduce baseline defense spending by reducing strategic capabilities, conventional forces,
procurement, and R&D programs"

Or, if that's too threatening, try your usual "class war" deflection.

It's what shit like you do best.

 

[georgephillip]

George,
The top 1% of this country pay 38% of the taxes.

38% of all taxes or 38% of all income taxes collected?

Why does Warren Buffett pay taxes at a 17.7% rate while his secretary pays a 32% rate?

Why do billionaires pay taxes at 15%?

Are you claiming the richest 1% currently pay too much in taxes?

People that make 380,000.00 and up pay 38%

The latest numbers from the IRS -- based on 2008 tax returns -- show that the top 1% of income earners paid 38.02% of individual income taxes paid. That's a lot, but it's actually a smaller share of the total tax bill than the top 1% paid in 2007. That year they paid 40.42%. We also learn from the IRS that, in 2008, the richest 1% of Americans made 20% of all the adjusted gross income reported. That's almost twice the 12.75% of total income earned collectively by the lowest-earning 50% of workers. Yes, 1.4 million taxpayers earn 20% of all income reported while 70 million share just 12.75%.

But get this: When it comes to taxes paid, an even wider discrepancy shows itself -- in reverse. Compared with that 38% of taxes paid by the top 1% of earners, the bottom 50% pay just 2.7% of the taxes collected.

If the rich pay more like Obama wants, that is going to bring in 100 Billion. That will not help much of anything when we borrow 1.3 Trillion every year.
It really won't bring in that amount when you consider that the rich can move to anywhere they want and you can bet it would be to a lower income taxed country.
Quite a few are moving to asian countries already.

We need to get rid of the IRS and get a straight sales tax.
It's the middle class that is getting soaked.

http://l.yimg.com/a/p/fi/34/81/63.jpg

The US middle class is being systematically destroyed for the benefit of the richest Americans.

The latest example was the $13 trillion bailout of Wall Street that left the debt overhead in place for 98% of Americans while increasing the lucky 2%'s share of returns to wealth (rent, dividends, interest and capital gains) by nearly 100% compared to a generation earlier.

Some of those making $380,000/year may pay income taxes at 38%; however, most of the richest pay between 15% to 20%, if that.

imho, it doesn't matter as much if the richest 1% of income earner paid 38.02% of individual income taxes collected in 2008 if they have also increased their share of national wealth by nearly 2% during the last two years.

Finally, I don't think Obama has any interest in taxing the rich.

Everything he's done (and hasn't done) so far indicates he wants Wall Street's support in 2012 even more than in 2008. He may understand that continued tax cuts for the one percent of the population that controls 40% of the nation's wealth will do nothing to restore the confidence of the other 99% of Americans, but it is virtually guaranteed he will ignore his better instincts (again?) and follow Wall Street's lead.

 

[GHook93]

The self proclaimed never made more than minimum wage former bum endorses a plan to make money! LOL, tossing out numbers is good and all, especially with no plan to hit them.

Interesting the so-called Progressives didn't mention ending the war in Libya or tackling illegal immigration that costs the hospitals, entitlements (welfare, Section 8 and food stamps), schools, prisons, police force billions of dollars!

From the Congressional Progressive Caucus

"Our Budget’s Bottom Line
• Deficit reduction of $5.6 trillion
• Primary spending cuts of $869 billion
• Net interest savings of $856 billion
• Total spending cuts of $1.7 trillion
• Revenue increase of $3.9 trillion
• Public investment of $1.7 trillion
• Budget surplus of $30.7 billion in 2021, debt at 64.1% of GDP."

Ends the wars in Afghanistan and Iraq.
Starts the "Make it in America" jobs program.
Saves the social safety net.

http://grijalva.house.gov/uploads/The%20CPC%20FY2012%20Budget.pdf

 

[georgephillip]

In one of his recent books Wesley Clark recounts a conversation he had at the Pentagon in November of 2001 with a staff officer who told Wes we were still "on track" for going into Iraq, and Iraq was one of seven Arab states slated for takeover in the next five years.

Libya, Iran, Sudan and Somalia and Yemen were also mentioned.

Apparently the goal is to bring 60% of the planet's oil and gas reserves under direct control of western corporations.

Guess who is paying for that?

Don't forget to count the illegal immigrants in search of citizenship who will pay with their lives.

 

[sparky]

worse than paying for it would be if it's workin' out at all>

US Keeps Quiet over Repression | Common Dreams

 

[georgephillip]

"'Things are getting worse, both quantitatively and qualitatively,' according to Toby Jones, an expert on the Gulf states at Rutgers University. 'It seems that across the board – from allegations of torture to reports of sweeping arrests – the regime has not just continued its crackdown, but intensified it.'

"'And while it has justified it as restoring law and order, what it seems to be doing is pursuing a vendetta; that's the only way to explain the severity of the situation,' he added.

"At the White House, however, silence has prevailed, suggesting to many observers that Obama is effectively acquiescing in, if not condoning, what is taking place."

US Keeps Quiet over Repression | Common Dreams

Obama will not turn on the rich in places like Bahrain and Saudi Arabia. Both of these Arab states have done nothing to defy global bankers in the way Saddam Hussein and Gaddafi did by boycotting the US dollar when selling their oil.

Ellen Brown on Libya...

"Several writers have noted the odd fact that the Libyan rebels took time out from their rebellion in March to create their own central bank - this before they even had a government.

"Robert Wenzel wrote in the Economic Policy Journal:

"'I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising. This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences."

Libya: All About Oil, or All About Banking? | Truthout