IF higher taxes will create jobs, why did the stimulus fail?

[JRK]

Job loss occurred because there is a business cycle and we reached the top.
Had we done nothing, we would have been far better off, with a more robust recovery that would have brought many more jobs to this country.
Instead we have a grossly expensive mess that is riddled with fraud and abuse. People screamed about FEMA after Katrina and how much waste there was. That was nothing compared to the stimulus, which of course the MSM hasn't really reported.

It is that simple
If people never stop making there house payments
this event never happens
If the banker does not leverage his place of employment way to much
this event never occurs
Lets not forget the hedge funds turning these mortgages into "paper' that can be trade/shorted so on so forth
your really right
even without the bubble we were do due for one of these

 

[Mr.Nick]

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

can you list the "crazy job killing legislation" they passed between Jan of 2007 (six months after the housing bubble burst) and December of 2007, when the recession started?

I can answer that
No
But let me also add there was no legislation passed from 07-10 that helped create any jobs either

Yeah. collectively spending 2 trillion dollars doesn't help either. Then you got the 111th in which Obama gave the leftist congress anything they wanted including the stimulus(s)..

In 2007 the national debt was 9 trillion - now its 13 trillion - 4 trillion spike.

In 8 years of Bush it went from 6 to 9 trillion..

Democrats reward those who put them into office with lavish kickbacks.

Then they legislate welfare nonsense for their loyal shit supporters at the very bottom (the liberal voting base).

 

[The Rabbi]

There is always a cycle. And that cycle always involves banks lending money to people who have no business having it for purposes that should never be funded. Whether it is the S&Ls, or Latin American debt, or petro-dollars, or whatever. In the last phase of expansion there is crap all over the system with businesses buying assets at inflated prices they will never come out on.
The crash phase should get rid of all that, washing out those assets for pennies on the dollar to new owners, who will form the basis of the next expansion.

But that didnt happen under Obama (and Bush as well). Instead the stupid and greedy got rewarded with bailouts instead of the liquidation they deserved. The real entrepreneurs, who would put those assets to good use, got screwed out of opportunity. And the rest of us footed the bill.

 

[Mr.Nick]

There is always a cycle. And that cycle always involves banks lending money to people who have no business having it for purposes that should never be funded. Whether it is the S&Ls, or Latin American debt, or petro-dollars, or whatever. In the last phase of expansion there is crap all over the system with businesses buying assets at inflated prices they will never come out on.
The crash phase should get rid of all that, washing out those assets for pennies on the dollar to new owners, who will form the basis of the next expansion.

But that didnt happen under Obama (and Bush as well). Instead the stupid and greedy got rewarded with bailouts instead of the liquidation they deserved. The real entrepreneurs, who would put those assets to good use, got screwed out of opportunity. And the rest of us footed the bill.

Community Reinvestment Act - Wikipedia, the free encyclopedia

Democrat tyrant Bill Clinton and Jesse Jackson's idea^^^

You know because its all racist...

Troubled Asset Relief Program - Wikipedia, the free encyclopedia

Oh and then you have TARP...

Can we connect the dots???

 

[Mr.Nick]

And it only took 6 years for assholes to charge up a storm because credit was a right - according to the liberals..

 

[auditor0007]

If cutting taxes for the rich creates jobs why is unemployment still where it is?

Because we didn't cut taxes enough. Didn't you know that if we just exempted anyone making over $100,000 per year from paying any taxes, then there would be plenty of jobs, the economy would be great, and tax revenues would be bursting at the seams.

 

[8537]

8537...the stimulus saved some public secotr jobs...yes....that is a given.....but it did nothing for the private sector.

I disagree. I can give a list of numerous private contractors in my area alone who benefitted from ARRA funding from a host of projects.

 

[8537]

8537 to start with I wish you had more respect for our president
How can you claim a job has been created when that same job was lost?
were not even close to being where we where in 2008


You surely are not trying to claim that a 6 million job deficit can be ignored just because BHO has a 1 trillion dollar failed stimulus attached to him?
No, No way

So you're holding Obama responsible for jobs lost before he took office? I remember when you claimed the president wasn't responsible for the economy - but we were talking about Clinton, so you needed a good excuse.

GOD
its about the 1 trillion dollars
hell no I dont blame him for those jobs lost
I blame him for those jobs not coming back
Look in Canada oil shale is a big deal. they have become our #1 supplier in crude
Crude Oil and Total Petroleum Imports Top 15 Countries
United States Oil Shale Deposits | Map, Geology & Resources
to extract
to refine
to deliver
to sale

Jobs jobs jobs

Power generating facilities

Do you know how many people 1 trillion dollars will pay in 2 years @ 40,000 a year?

So, you think that if we had more oil shale drilling we'd be more like Canada and....better off?

 

[8537]

No, I hold the liberal super majority in congress responsible.

They're the ones that were writing an passing crazy ass job killing legislation.

can you list the "crazy job killing legislation" they passed between Jan of 2007 (six months after the housing bubble burst) and December of 2007, when the recession started?

List it???

They only passed like 3,000 bills, most of which were either spending bills or HR or SR's..

THOMAS (Library of Congress)

There you go, indulge your self with the 110th and 111ths lunacy.

They were either spending money, regulating or passing retarded resolutions...

Nancy Pelosi is one of the most delusional crackpots ever to hold public office.

So you can't name any specific legislation between 2007 and Jan 2009 that caused the economic slowdown created by a housing bubble that popped in 2006?

I see.

 

[8537]

There is always a cycle. And that cycle always involves banks lending money to people who have no business having it for purposes that should never be funded. Whether it is the S&Ls, or Latin American debt, or petro-dollars, or whatever. In the last phase of expansion there is crap all over the system with businesses buying assets at inflated prices they will never come out on.
The crash phase should get rid of all that, washing out those assets for pennies on the dollar to new owners, who will form the basis of the next expansion.

But that didnt happen under Obama (and Bush as well). Instead the stupid and greedy got rewarded with bailouts instead of the liquidation they deserved. The real entrepreneurs, who would put those assets to good use, got screwed out of opportunity. And the rest of us footed the bill.

Community Reinvestment Act - Wikipedia, the free encyclopedia

Democrat tyrant Bill Clinton and Jesse Jackson's idea^^^

You know because its all racist...

Troubled Asset Relief Program - Wikipedia, the free encyclopedia

Oh and then you have TARP...

Can we connect the dots???

I see we have a new village idiot! You should get to know Rabbi - just make sure you're wearing white.

The CRA was passed a decade and a half before Clinton took office. about 80% of failed subprime mortgages were issued by institutions outside of CRA regulation.

 

[8537]

There is always a cycle. And that cycle always involves banks lending money to people who have no business having it for purposes that should never be funded. Whether it is the S&Ls, or Latin American debt, or petro-dollars, or whatever. In the last phase of expansion there is crap all over the system with businesses buying assets at inflated prices they will never come out on.
The crash phase should get rid of all that, washing out those assets for pennies on the dollar to new owners, who will form the basis of the next expansion.

But that didnt happen under Obama (and Bush as well). Instead the stupid and greedy got rewarded with bailouts instead of the liquidation they deserved. The real entrepreneurs, who would put those assets to good use, got screwed out of opportunity. And the rest of us footed the bill.

How'd we have such a severe double-dip recession under Reagan? Was that just a great big lending bubble followed by liquidation?

 

[hellofromwarsaw]

The refusal of bought off pubs to pass ANY jobs bills or raise taxes on the bloated mega rich have slowed the recovery, along with all the gloom and doom fear mongering and needless austerity measures. Just like the tory spending cuts have crippled the UK recovery.

 

[rdean]

Why does anyone think the stimulus failed? Was it because almost half was "tax cuts"?

 

[PLYMCO_PILGRIM]

Why does anyone think the stimulus failed? Was it because almost half was "tax cuts"?

because you cant fix the economy, the budget, and create jobs by borrowing money and spending it.

 

[The Rabbi]

can you list the "crazy job killing legislation" they passed between Jan of 2007 (six months after the housing bubble burst) and December of 2007, when the recession started?

List it???

They only passed like 3,000 bills, most of which were either spending bills or HR or SR's..

THOMAS (Library of Congress)

There you go, indulge your self with the 110th and 111ths lunacy.

They were either spending money, regulating or passing retarded resolutions...

Nancy Pelosi is one of the most delusional crackpots ever to hold public office.

So you can't name any specific legislation between 2007 and Jan 2009 that caused the economic slowdown created by a housing bubble that popped in 2006?

I see.

Enacted
Main article: Acts of the 111th United States Congress

* January 29, 2009: Lilly Ledbetter Fair Pay Act of 2009, Pub.L. 111-2
* February 4, 2009: Children's Health Insurance Program Reauthorization Act (SCHIP), Pub.L. 111-3
* February 17, 2009: American Recovery and Reinvestment Act of 2009 (ARRA), Pub.L. 111-5
* March 11, 2009: Omnibus Appropriations Act, 2009, Pub.L. 111-8
* March 30, 2009: Omnibus Public Land Management Act of 2009, Pub.L. 111-11
* April 21, 2009: Edward M. Kennedy Serve America Act, Pub.L. 111-13
* May 20, 2009: Fraud Enforcement and Recovery Act of 2009, Pub.L. 111-21
* May 20, 2009: Helping Families Save Their Homes Act of 2009, Pub.L. 111-22
* May 22, 2009: Weapon Systems Acquisition Reform Act of 2009, Pub.L. 111-23
* May 22, 2009: Credit CARD Act of 2009, Pub.L. 111-24
* June 22, 2009: Family Smoking Prevention and Tobacco Control Act, as Division A of Pub.L. 111-31
* June 24, 2009: Supplemental Appropriations Act of 2009 including the Car Allowance Rebate System (Cash for Clunkers), Pub.L. 111-32
* October 28, 2009: National Defense Authorization Act for Fiscal Year 2010, including the Matthew Shepard and James Byrd, Jr. Hate Crimes Prevention Act, Pub.L. 111-84
* November 6, 2009: Worker, Homeownership, and Business Assistance Act of 2009, Pub.L. 111-92
* December 16, 2009: Consolidated Appropriations Act, 2010, Pub.L. 111-117
* February 12, 2010: Statutory Pay-As-You-Go Act, as Title I of Pub.L. 111-139
* March 4, 2010: Travel Promotion Act of 2009, as Section 9 of Pub.L. 111-145
* March 18, 2010: Hiring Incentives to Restore Employment Act, Pub.L. 111-147
* March 23, 2010: Patient Protection and Affordable Care Act, Pub.L. 111-148
* March 30, 2010: Health Care and Education Reconciliation Act of 2010, including the Student Aid and Fiscal Responsibility Act, Pub.L. 111-152
* May 5, 2010: Caregivers and Veterans Omnibus Health Services Act of 2010, Pub.L. 111-163
* July 1, 2010: Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, Pub.L. 111-195
* July 21, 2010: Dodd–Frank Wall Street Reform and Consumer Protection Act, Pub.L. 111-203
* August 3, 2010: Fair Sentencing Act of 2010, Pub.L. 111-220
* August 10, 2010: SPEECH Act of 2010, Pub.L. 111-223
* September 27, 2010: Small Business Jobs and Credit Act of 2010, Pub.L. 111-240
* December 8, 2010: Claims Resolution Act of 2010, Pub.L. 111-291
* December 13, 2010: Healthy, Hunger-Free Kids Act of 2010, Pub.L. 111-296
* December 17, 2010: Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub.L. 111-312, H.R. 4853
* December 22, 2010: Don't Ask, Don't Tell Repeal Act of 2010, Pub.L. 111-321, H.R. 2965
* January 2, 2011: James Zadroga 9/11 Health and Compensation Act of 2010, Pub.L. 111-347, H.R. 847
* January 4, 2011: Shark Conservation Act, Pub.L. 111-348, H.R. 81
* January 4, 2011: Food Safety and Modernization Act, Pub.L. 111-353, H.R. 2751

[edit] Health care reform

 

[The Rabbi]

There is always a cycle. And that cycle always involves banks lending money to people who have no business having it for purposes that should never be funded. Whether it is the S&Ls, or Latin American debt, or petro-dollars, or whatever. In the last phase of expansion there is crap all over the system with businesses buying assets at inflated prices they will never come out on.
The crash phase should get rid of all that, washing out those assets for pennies on the dollar to new owners, who will form the basis of the next expansion.

But that didnt happen under Obama (and Bush as well). Instead the stupid and greedy got rewarded with bailouts instead of the liquidation they deserved. The real entrepreneurs, who would put those assets to good use, got screwed out of opportunity. And the rest of us footed the bill.

How'd we have such a severe double-dip recession under Reagan? Was that just a great big lending bubble followed by liquidation?

We're not discussing Reagan, chowderhead.
http://en.wikipedia.org/wiki/Petrodollar_recycling

 

[8537]

So - as you'll see - Rabbi can't list any legislation passed by the dems between Jan of 2007 and Jan of 2009 that brought on a recession caused by a housing bubble that popped in 2006.

Credit to him, he DOES attempt to blame an equal-pay-for-women piece of legislation that just barely meets the aforementioned criteria.

Oh...and the weapons system acquisition reform act!

You don't carry other people's water very well, Rabbi.

 

[Mr.Nick]

Why does anyone think the stimulus failed? Was it because almost half was "tax cuts"?

Do you know what a payoff is??

You scratch my back and I'll scratch yours???

 

[8537]

There is always a cycle. And that cycle always involves banks lending money to people who have no business having it for purposes that should never be funded. Whether it is the S&Ls, or Latin American debt, or petro-dollars, or whatever. In the last phase of expansion there is crap all over the system with businesses buying assets at inflated prices they will never come out on.
The crash phase should get rid of all that, washing out those assets for pennies on the dollar to new owners, who will form the basis of the next expansion.

But that didnt happen under Obama (and Bush as well). Instead the stupid and greedy got rewarded with bailouts instead of the liquidation they deserved. The real entrepreneurs, who would put those assets to good use, got screwed out of opportunity. And the rest of us footed the bill.

How'd we have such a severe double-dip recession under Reagan? Was that just a great big lending bubble followed by liquidation?

We're not discussing Reagan, chowderhead.
Petrodollar recycling - Wikipedia, the free encyclopedia

You gave a grand (if absurdly simplistic theory of all recessions. I asked you if it applied to the dual Reagan recessions.

So I apologize for bringin...no wait, you brought it up. And then ran like a baby.

How did a falling price per barrel of oil between 1980 and 1983 cause a double dip recession?

 

[Mr.Nick]

List it???

They only passed like 3,000 bills, most of which were either spending bills or HR or SR's..

THOMAS (Library of Congress)

There you go, indulge your self with the 110th and 111ths lunacy.

They were either spending money, regulating or passing retarded resolutions...

Nancy Pelosi is one of the most delusional crackpots ever to hold public office.

So you can't name any specific legislation between 2007 and Jan 2009 that caused the economic slowdown created by a housing bubble that popped in 2006?

I see.

Enacted
Main article: Acts of the 111th United States Congress

* January 29, 2009: Lilly Ledbetter Fair Pay Act of 2009, Pub.L. 111-2
* February 4, 2009: Children's Health Insurance Program Reauthorization Act (SCHIP), Pub.L. 111-3
* February 17, 2009: American Recovery and Reinvestment Act of 2009 (ARRA), Pub.L. 111-5
* March 11, 2009: Omnibus Appropriations Act, 2009, Pub.L. 111-8
* March 30, 2009: Omnibus Public Land Management Act of 2009, Pub.L. 111-11
* April 21, 2009: Edward M. Kennedy Serve America Act, Pub.L. 111-13
* May 20, 2009: Fraud Enforcement and Recovery Act of 2009, Pub.L. 111-21
* May 20, 2009: Helping Families Save Their Homes Act of 2009, Pub.L. 111-22
* May 22, 2009: Weapon Systems Acquisition Reform Act of 2009, Pub.L. 111-23
* May 22, 2009: Credit CARD Act of 2009, Pub.L. 111-24
* June 22, 2009: Family Smoking Prevention and Tobacco Control Act, as Division A of Pub.L. 111-31
* June 24, 2009: Supplemental Appropriations Act of 2009 including the Car Allowance Rebate System (Cash for Clunkers), Pub.L. 111-32
* October 28, 2009: National Defense Authorization Act for Fiscal Year 2010, including the Matthew Shepard and James Byrd, Jr. Hate Crimes Prevention Act, Pub.L. 111-84
* November 6, 2009: Worker, Homeownership, and Business Assistance Act of 2009, Pub.L. 111-92
* December 16, 2009: Consolidated Appropriations Act, 2010, Pub.L. 111-117
* February 12, 2010: Statutory Pay-As-You-Go Act, as Title I of Pub.L. 111-139
* March 4, 2010: Travel Promotion Act of 2009, as Section 9 of Pub.L. 111-145
* March 18, 2010: Hiring Incentives to Restore Employment Act, Pub.L. 111-147
* March 23, 2010: Patient Protection and Affordable Care Act, Pub.L. 111-148
* March 30, 2010: Health Care and Education Reconciliation Act of 2010, including the Student Aid and Fiscal Responsibility Act, Pub.L. 111-152
* May 5, 2010: Caregivers and Veterans Omnibus Health Services Act of 2010, Pub.L. 111-163
* July 1, 2010: Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, Pub.L. 111-195
* July 21, 2010: Dodd–Frank Wall Street Reform and Consumer Protection Act, Pub.L. 111-203
* August 3, 2010: Fair Sentencing Act of 2010, Pub.L. 111-220
* August 10, 2010: SPEECH Act of 2010, Pub.L. 111-223
* September 27, 2010: Small Business Jobs and Credit Act of 2010, Pub.L. 111-240
* December 8, 2010: Claims Resolution Act of 2010, Pub.L. 111-291
* December 13, 2010: Healthy, Hunger-Free Kids Act of 2010, Pub.L. 111-296
* December 17, 2010: Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Pub.L. 111-312, H.R. 4853
* December 22, 2010: Don't Ask, Don't Tell Repeal Act of 2010, Pub.L. 111-321, H.R. 2965
* January 2, 2011: James Zadroga 9/11 Health and Compensation Act of 2010, Pub.L. 111-347, H.R. 847
* January 4, 2011: Shark Conservation Act, Pub.L. 111-348, H.R. 81
* January 4, 2011: Food Safety and Modernization Act, Pub.L. 111-353, H.R. 2751

[edit] Health care reform

You went through that nonsense??

Kudos for you buddy..

Thomas is like a sea of insanity....