11-16-2012, 06:16 AM
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A B User
Industry Role:
Join Date: Dec 2007
Posts: 256
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Quote:
Originally Posted by EonBlue
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If this was a not a political fluff piece from the Opinions and Editorials, the OC Register would win a nice award for inaccurate journalism.
The Governments Fiscal Calendar runs from October 1st to September 30th. Fiscal 2009 begins October 1st, 2008. The 2009 budget was written and submitted to Congress by the Bush Administration. Then we tacked on the Bank Bailouts, the AIG Bailout and the Auto Bailout.
Seriously, the nations biggest problem is not the poor. It is the greed of the rich who pay lower tax rates than the middle class and our continuous Corporate Welfare. Corporate Welfare comes in the form of Tax breaks, Subsidies and Bailouts.
Still, conservatives run around bitching about people living off the Government when we spent three times as much on AIG in 2009 than we did on Welfare. And over 30% of that AIG money was paid out to European banks to keep them from collapsing.
Your welcome Europe. All those Euro's flooding into our housing market were part of the cause of the over inflation of housing prices. Serious investors know that Real Estate is only profitable at 9.5 to 10 times annual rents. Thanks to the rest of the world, my house went up to 35 times annual rents - before dropping back to 10 times. Yep. The U.S. Taxpayers picked up the tab for both our and your bankers shitty investments.
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There is no excuse for ignorance, yet it still remains a powerful force.
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