What caused the national debt?

[Cuyo]

Well, today the rich can just take their marbles and go to another country.

We did have an economic boom earlier in the decade. What we have now is a bunch of companies that probably have the resources to expand, but why in God's name would they want to do it here when Obama and his boys keep adding more regulations and mandates?

Especially when you can go to a country like China or Malaysia, where they work cheap, don't regulate what you are doing and you can make a profit?

Yep. They're upset. Quick! Give them whatever they want! All beholden to the rich job creators! We've got to get them back to laying golden job eggs before it's too late!

We are beholden to the rich job creators unless we are self employed. Are you suggest that taxing them more will have no consequences other than to increase revenue ?

Sure. Why not have the government provide them with free buildings and utilities? After all, that would free up revenue for job creation, would it not?

Look, right now we're beholden to an economy where it's cheaper and beneficial in nearly every way for large companies to outsource labor. In addition to the tangible savings ($1 an hour is a lot cheaper than $16), big biz loves a flooded labor pool, to keep the costs of domestic payroll lower for the stuff they can't outsource - eg, truck drivers. Further easing taxes will not reverse this trend. Tariffs will. The only thing that will cause companies to keep jobs in the US is when it is cheaper to keep them here, period.

Taxes are not nearly as big an item on a corporations books as payroll is - Not even in the ballpark. What's more, payroll is 100% tax deductable. The tax rate a company is subject to does not even come into the equation until after payroll. The entire premise of the argument is fundamentally flawed.

 

[Mr. Jones]

Why we have a national debt...

Because borrowing money is the path of least resistance.

People want government to do a bunch of stuff, and they don't want to pay for it.

Guys like Rightwinger think you can soak the rich to pay for stuff, but at the end of the day, the Rich just pass on the costs to the rest of us.

If we had a balanced budget amendment and actually paid for the government we got (like most of the states do) we'd probably see government shrink.

No...I don't think you can just soak the rich to pay for stuff

I do think that you need a sensible tax base to pay for stuff. I do think that our current debt is linked to irresponsible tax cuts and runaway spending. I do think that if you go to war, you don't cut taxes to pay for it.

The tax rate on the wealthy is at it's lowest in history. It has not resulted in an economic boom, it has not added more jobs and it has not raised the overall standard of living.......except for the super wealthy

The tax rate on the wealthy was 7% in 1913 and 28% in 1988.

I'm pretty sure both those rates are less than the current 35% rate.

Boo frickin hoo, cry me a river. The inequality in this country is vast.

In fact, there is absolutely no evidence in the economic history of the last century that tax cuts for the rich increase economic growth. But there is evidence that they actually hurt prospects for economic growth -- both in the short and long run.

And just in case you hear someone say that a dollar spent on tax cuts to the rich is a good way to stimulate the economy, here's a fact from Mark Zandi, chief economist for Moody's.com, who was also an economic adviser to John McCain:

For every dollar spent on making the Bush tax cuts permanent, you get $.29 of increase in the GDP. For every dollar spent to extend unemployment benefits you get $1.64 increase in the GDP. In other words, a dollar spent on unemployment compensation gets 5.6 times more boost to the GDP than a tax cut for the rich.

Robert Creamer: Economic History Shows Clearly That Tax Cuts for Rich Hurt the Economy

Would it not make sense to just loot and hoard what they can, and get away from the US dollar and possibly exchange it for other currency's, or tangible assets, because they know the end of the dollar is near. After all, it is being devalued. Wouldn't that make sense??

 

[Toddsterpatriot]

No...I don't think you can just soak the rich to pay for stuff

I do think that you need a sensible tax base to pay for stuff. I do think that our current debt is linked to irresponsible tax cuts and runaway spending. I do think that if you go to war, you don't cut taxes to pay for it.

The tax rate on the wealthy is at it's lowest in history. It has not resulted in an economic boom, it has not added more jobs and it has not raised the overall standard of living.......except for the super wealthy

The tax rate on the wealthy was 7% in 1913 and 28% in 1988.

I'm pretty sure both those rates are less than the current 35% rate.

Boo frickin hoo, cry me a river. The inequality in this country is vast.

Lots of stupid people out there.

In fact, there is absolutely no evidence in the economic history of the last century that tax cuts for the rich increase economic growth. But there is evidence that they actually hurt prospects for economic growth -- both in the short and long run.

And just in case you hear someone say that a dollar spent on tax cuts to the rich is a good way to stimulate the economy, here's a fact from Mark Zandi, chief economist for Moody's.com, who was also an economic adviser to John McCain:

For every dollar spent on making the Bush tax cuts permanent, you get $.29 of increase in the GDP. For every dollar spent to extend unemployment benefits you get $1.64 increase in the GDP. In other words, a dollar spent on unemployment compensation gets 5.6 times more boost to the GDP than a tax cut for the rich.

Robert Creamer: Economic History Shows Clearly That Tax Cuts for Rich Hurt the Economy

LOL! That's hilarious! I guess the government should send everyone unemployment checks, think of all the growth we'll have.

Would it not make sense to just loot and hoard what they can, and get away from the US dollar and possibly exchange it for other currency's, or tangible assets, because they know the end of the dollar is near. After all, it is being devalued. Wouldn't that make sense??

Yes, you are confused.

 

[rightwinger]

Anyone who says there are "few regulations" obviously has never worked in the private sector.

How did deregulation of the financial sector work out? How did deregulating environmental protection work out? How about deregulating worker safety in coal mines?

Yes...we have to let business make money without government interference

The financial sector was deregulated?
On what planet?
Cause it sure wasn't here.

Did you somehow miss the Great Recession of 2007-2008?

 

[rightwinger]

Well, today the rich can just take their marbles and go to another country.

We did have an economic boom earlier in the decade. What we have now is a bunch of companies that probably have the resources to expand, but why in God's name would they want to do it here when Obama and his boys keep adding more regulations and mandates?

Especially when you can go to a country like China or Malaysia, where they work cheap, don't regulate what you are doing and you can make a profit?

Yep. They're upset. Quick! Give them whatever they want! All beholden to the rich job creators! We've got to get them back to laying golden job eggs before it's too late!

We are beholden to the rich job creators unless we are self employed. Are you suggest that taxing them more will have no consequences other than to increase revenue ?

We are not beholden to job creators. They are not giving you a gift. You give them labor and they make a substantial profit off of your labor.

 

[Cuyo]

How did deregulation of the financial sector work out? How did deregulating environmental protection work out? How about deregulating worker safety in coal mines?

Yes...we have to let business make money without government interference

The financial sector was deregulated?
On what planet?
Cause it sure wasn't here.

Did you somehow miss the Great Recession of 2007-2008?

Don't sweat it winger, just another idiot. When did "Patriot" become synonymous with "Idiot?" that's what I'd like to know.

 

[Kiki Cannoli]

How did deregulation of the financial sector work out? How did deregulating environmental protection work out? How about deregulating worker safety in coal mines?

Yes...we have to let business make money without government interference

The financial sector was deregulated?
On what planet?
Cause it sure wasn't here.

Did you somehow miss the Great Recession of 2007-2008?

I thought the deregulation began under Reagan. It was Clinton's adminsitration that sought agreement with Republicans to finish the job in 1999.

 

[Toddsterpatriot]

How did deregulation of the financial sector work out? How did deregulating environmental protection work out? How about deregulating worker safety in coal mines?

Yes...we have to let business make money without government interference

The financial sector was deregulated?
On what planet?
Cause it sure wasn't here.

Did you somehow miss the Great Recession of 2007-2008?

Was that caused by the imaginary deregulation?

 

[Chris]

Why we have a national debt...

Because borrowing money is the path of least resistance.

People want government to do a bunch of stuff, and they don't want to pay for it.

Guys like Rightwinger think you can soak the rich to pay for stuff, but at the end of the day, the Rich just pass on the costs to the rest of us.

If we had a balanced budget amendment and actually paid for the government we got (like most of the states do) we'd probably see government shrink.

That's bullshit.

The rich pay taxes at a lower rate than we do....about 17%.

How is that fair?

 

[Chris]

The financial sector was deregulated?
On what planet?
Cause it sure wasn't here.

Did you somehow miss the Great Recession of 2007-2008?

I thought the deregulation began under Reagan. It was Clinton's adminsitration that sought agreement with Republicans to finish the job in 1999.

No actually Sen. Phil Gramm snuck an amendment into a spending bill on the day before Christmas recess 1999 to deregulate the finance industry.

 

[elvis]

Did you somehow miss the Great Recession of 2007-2008?

I thought the deregulation began under Reagan. It was Clinton's adminsitration that sought agreement with Republicans to finish the job in 1999.

No actually Sen. Phil Gramm snuck an amendment into a spending bill on the day before Christmas recess 1999 to deregulate the finance industry.

You tell him, Monica.

 

[C_Clayton_Jones]

Did you somehow miss the Great Recession of 2007-2008?

That would be the December 2007 recession that started January 20, 2009 at 12:00 PM EST. It was in all the papers.

 

[Liability]

Did you somehow miss the Great Recession of 2007-2008?

That would be the December 2007 recession that started January 20, 2009 at 12:00 PM EST. It was in all the papers.

Actually, on January 20, 2009, most rational Americans found themselves start of a massive depression that hasn't let up yet ... for some reason.

 

[Chris]

Did you somehow miss the Great Recession of 2007-2008?

That would be the December 2007 recession that started January 20, 2009 at 12:00 PM EST. It was in all the papers.

Actually, on January 20, 2009, most rational Americans found themselves start of a massive depression that hasn't let up yet ... for some reason.

There is plenty of money in the country.

It's just concentrated in too few hands.

There is $2 trillion dollars parked in treasuries.

 

[JoeB131]

How did deregulation of the financial sector work out? How did deregulating environmental protection work out? How about deregulating worker safety in coal mines?

Yes...we have to let business make money without government interference

The financial sector was deregulated?
On what planet?
Cause it sure wasn't here.

Did you somehow miss the Great Recession of 2007-2008?

Yeah, actually, funny enough, I DO miss it.

Because compared to the OBAMA DEPRESSION OF 2009-2013, that big bad recession doesn't seem so bad. Man, I wish we had 6% unemployment again.

But to the point, guy, how many Wall Street Crooks have Obama and Holder brought to trial for their complicity in the collapse of the economy. I think they prosecuted Bernie Madoff and that was about it.

Where are the indictments? Where are the big bankers being frog marched out of their offices?

Oh, wait. What's that? Obama continued the bailouts, even let them pay themselves bonuses out of TARP funds?

 

[rightwinger]

The financial sector was deregulated?
On what planet?
Cause it sure wasn't here.

Did you somehow miss the Great Recession of 2007-2008?

Yeah, actually, funny enough, I DO miss it.

Because compared to the OBAMA DEPRESSION OF 2009-2013, that big bad recession doesn't seem so bad. Man, I wish we had 6% unemployment again.

But to the point, guy, how many Wall Street Crooks have Obama and Holder brought to trial for their complicity in the collapse of the economy. I think they prosecuted Bernie Madoff and that was about it.

Where are the indictments? Where are the big bankers being frog marched out of their offices?

Oh, wait. What's that? Obama continued the bailouts, even let them pay themselves bonuses out of TARP funds?

Depression?

A depression requires a negative GDP

Just like we had under BOOOOOOOOOSH

Looks like the Republicans may have killed 6% unemployment for good. Losing 700,000 jobs a month will do that

 

[Lovebears65]

Its just not one side. BOTH REP and DEMS have put us into this mess. They need to quit pointing fingers and figure out what is going to get out of this mess instead of kicking it down the road !

 

[Si modo]

Its just not one side. BOTH REP and DEMS have put us into this mess. They need to quit pointing fingers and figure out what is going to get out of this mess instead of kicking it down the road !

Indeed.

 

[JoeB131]

Did you somehow miss the Great Recession of 2007-2008?

Yeah, actually, funny enough, I DO miss it.

Because compared to the OBAMA DEPRESSION OF 2009-2013, that big bad recession doesn't seem so bad. Man, I wish we had 6% unemployment again.

But to the point, guy, how many Wall Street Crooks have Obama and Holder brought to trial for their complicity in the collapse of the economy. I think they prosecuted Bernie Madoff and that was about it.

Where are the indictments? Where are the big bankers being frog marched out of their offices?

Oh, wait. What's that? Obama continued the bailouts, even let them pay themselves bonuses out of TARP funds?

Depression?

A depression requires a negative GDP

Just like we had under BOOOOOOOOOSH

Looks like the Republicans may have killed 6% unemployment for good. Losing 700,000 jobs a month will do that

Get a grip. The Economy destroys 13 million jobs a year even when things are going well. The good news is that when times are good, when you have a president who does things to encourage growth, it creates 15 million replacement jobs.

Sadly, your boy Obama isn't doing that, and even Democratic CEO like Wynn and the Home Depot guy have said as much.

Went to Borders' Books today. You know, closing 400 stores, laying off 11,000 people. That's all on Obama's watch, buddy.

Time For Obama to pull up his big-boy pants and stop blaming the guy who left three years ago.


Oh, DULY NOTED you avoided my question. Why hasn't Obama put any of the Wall Street Crooks in prison?

 

[rightwinger]

Yeah, actually, funny enough, I DO miss it.

Because compared to the OBAMA DEPRESSION OF 2009-2013, that big bad recession doesn't seem so bad. Man, I wish we had 6% unemployment again.

But to the point, guy, how many Wall Street Crooks have Obama and Holder brought to trial for their complicity in the collapse of the economy. I think they prosecuted Bernie Madoff and that was about it.

Where are the indictments? Where are the big bankers being frog marched out of their offices?

Oh, wait. What's that? Obama continued the bailouts, even let them pay themselves bonuses out of TARP funds?

Depression?

A depression requires a negative GDP

Just like we had under BOOOOOOOOOSH

Looks like the Republicans may have killed 6% unemployment for good. Losing 700,000 jobs a month will do that

Get a grip. The Economy destroys 13 million jobs a year even when things are going well. The good news is that when times are good, when you have a president who does things to encourage growth, it creates 15 million replacement jobs.

Sadly, your boy Obama isn't doing that, and even Democratic CEO like Wynn and the Home Depot guy have said as much.

Went to Borders' Books today. You know, closing 400 stores, laying off 11,000 people. That's all on Obama's watch, buddy.

Time For Obama to pull up his big-boy pants and stop blaming the guy who left three years ago.


Oh, DULY NOTED you avoided my question. Why hasn't Obama put any of the Wall Street Crooks in prison?

LOL

So now Obama is responsible for Borders inability to anticipate eBooks