US tax revenue chart

[Truthmatters]

Yet NONE of you great economic seers saw the crash coming huh?

 

[boedicca]

We are only going to extract 18% or so out of the economy in taxes.

We are a tad shy of that right now, so there is indeed room for the working classes to once again start paying their fair share of the burden.

Permit them to freeload, and they vote Democrat.

Bingo. No matter what the tax rates, that is the mean around which federal receipts fall.

Combined with state and local taxes, the goal should be a total tax burden on the economy of no more than 30% (the rate medieval serfs paid, btw).

 

[Truthmatters]

Prove you claims with FACTS

 

[boedicca]

Yet NONE of you great economic profits saw the crash coming huh?

Are you kidding? We warned about the impacts of reckless, uncontrolled spending - and back when Fannie Mae and Freddie Mac started buying up subprime markets, I recall quite vividly warning folks on my board at the time that it was going end "very ugly".

The reality is that morons like you ignored the obvious trajectory towards disaster that such profligacy sends the economy.

 

[boedicca]

Prove you claims with FACTS

I'm not bothering as you ignore all FACTS anyone posts.

 

[Soggy in NOLA]

Government Tax and Revenue Chart: United States 1902-2015 - Federal State Local Data


The Bush tax cuts did NOT bring in more revenue did it.

Now look at the Clinton years and realise we never really got back to that nice steady growth because of the idiot policies of the right under Bush

The CRA was a Bush thang? Who knew?

 

[Truthmatters]

Yet NONE of you great economic profits saw the crash coming huh?

Are you kidding? We warned about the impacts of reckless, uncontrolled spending - and back when Fannie Mae and Freddie Mac started buying up subprime markets, I recall quite vividly warning folks on my board at the time that it was going end "very ugly".

The reality is that morons like you ignored the obvious trajectory towards disaster that such profligacy sends the economy.

really you did.

can you prove you did?

 

[Yurt]

Yet NONE of you great economic seers saw the crash coming huh?

sure they did. i knew it was coming a few years prior.

 

[Truthmatters]

Prove you claims with FACTS

I'm not bothering as you ignore all FACTS anyone posts.

I think that is because you think facts are what fox news tells you

 

[boedicca]

Dear TMN: Prove you aren't a blithering idiot, first.

 

[kwc57]

Oh my God, not this stupid shit again.

Consider the source. She is paid a penny a post and it's her only income.

 

[Truthmatters]

Yet NONE of you great economic seers saw the crash coming huh?

sure they did. i knew it was coming a few years prior.

becausse me and uscitizen told you about it and you denied it was going to happen

 

[boedicca]

Prove you claims with FACTS

I'm not bothering as you ignore all FACTS anyone posts.

I think that is because you think facts are what fox news tells you

I call shenanigans. Whatever chemical reactions occur in your grey matter, it most certainly is not Thinking.

 

[Truthmatters]

and they revert right into "your a poopy pants mode" with NO offer of facts.

gee so surprizing

 

[Truthmatters]

The tax revenue charts do NOT confirm the right wings crazy claims of the laffer curve

 

[Yurt]

here is a clearer chart and it shows TM has no clue what she is talking about

 

[Yurt]

Yet NONE of you great economic seers saw the crash coming huh?

sure they did. i knew it was coming a few years prior.

becausse me and uscitizen told you about it and you denied it was going to happen

liar. you didn't tell me shit. neither did USC. you didn't even join here until 2007. i didn't know you in 04'.

you're such a dumbass liar.

 

[Truthmatters]

from 1950 to 1963 the top tax rate was over 90%.


why no big crash in the revenue flow like you smucks claim would happen?

 

[Truthmatters]

Gee after those rates were raised in 1950 we had a upswing

 

[boedicca]

Poor TMN, wouldn't recognize a FACT if it slapped her on the ass (does she really weight 380 pounds - cuz that would be quite a slap!) and called her Judy.

Back in 2003, even the Bush administration recognized that Fannie Mae and Freddie Mac were headed towards disaster. The Dems in Congress prevented action to curtail their reckless mortgage purchases.

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

The plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac -- which together have issued more than $1.5 trillion in outstanding debt -- is broken. A report by outside investigators in July concluded that Freddie Mac manipulated its accounting to mislead investors, and critics have said Fannie Mae does not adequately hedge against rising interest rates....

(snip)

Significant details must still be worked out before Congress can approve a bill. Among the groups denouncing the proposal today were the National Association of Home Builders and Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

New Agency Proposed to Oversee Freddie Mac and Fannie Mae - NYTimes.com