President Obama wants to lower taxes?

[Minte]

http://news.yahoo.com/obama-lay-jobs...164134471.html


WASHINGTON (AP) ? Seeking to jolt the economy, President Barack Obama will propose new ideas to create jobs and help the struggling poor and middle class in a major speech after Labor Day. And then he will try to seize political advantage by spending the fall pressuring Congress to act on his plan.

Obama's plan is likely to contain a mix of tax cuts, jobs-boosting construction projects and steps to help the long-term unemployed

I suspect he is trying to lose that socialist label.
But his buddies on the far left probably aren't thrilled.

[blackmonsters]

Don't get too excited :



I'm pretty sure this guy will pull another one of his :

"I'm-the-Leader-of-the-White-people-somebody-has-to-stand-up-to-this-nigga" acts.

[AzteK]

Don't get too excited :



I'm pretty sure this guy will pull another one of his :

"I'm-the-Leader-of-the-White-people-somebody-has-to-stand-up-to-this-nigga" acts.

I wouldn't put in those words. However, I get your point and you're right.

[Minte]

Don't get too excited :



I'm pretty sure this guy will pull another one of his :

"I'm-the-Leader-of-the-White-people-somebody-has-to-stand-up-to-this-nigga" acts.

President Obama's term has been a failure because he is black?

[Brad Mitchell]

What politicians are calling "middle class" these days isn't a wide enough range with what it costs to live and what a double income household earns. We can cross our fingers that they get smarter..

Brad

[12clicks]

President Obama's term has been a failure because he is black?

No, I think the narrative is that we *think* he's a failure because he's black.
We don't see his many successes because we're racist

[Minte]

No, I think the narrative is that we *think* he's a failure because he's black.
We don't see his many successes because we're racist

I might have missed something,but I am fairly sure he was black when he was elected.

[blackmonsters]

No, I think the narrative is that we *think* he's a failure because he's black.
We don't see his many successes because we're racist

Please don't flatter yourself with the term racist.
You are simply incurably stupid and have confused the two terms.

[marketsmart]

No, I think the narrative is that we *think* he's a failure because he's black.
We don't see his many successes because we're racist

I'm with you...

I don't want to pay any taxes because even though I work at McDonalds, I consider myself rich..

Although I hate you Ron, based on the current administration, I no longer feel a responsibility to help the recovery of this country by paying higher taxes..

Regardless of how much I make (or don't make according to you), I don't want to pay more in taxes per year so the government can throw my taxes into the toilet funding Joe the plumber who has no desire to find a job..

This post is probably too complex for you to understand, so in layman terms, I agree that I pay too much in taxes compared to what is fair...

So, in that sense I reluctantly agree with what you have been saying for the last few years...






.

[TheSquealer]

What politicians are calling "middle class" these days isn't a wide enough range with what it costs to live and what a double income household earns. We can cross our fingers that they get smarter..

Brad

I think that who they define as "middle class" these days, is most often the largest campaign contributors and majority of actual voters

[marketsmart]

I think that who they define as "middle class" these days, is most often the largest campaign contributors and majority of actual voters

maybe for the democrats and that is the problem...

democrats lose their voter base if they take away the freeloader programs and republicans lose their voter base if they do anything that hurts the rich or corporate america...

it's the old story of dr seuss and the sneetches...






.

[Matt 26z]

Taxes never should have been cut under Bush in the first place.

Clinton left Bush with a balanced budget and enough tax revenues to pay down the national debt in about 10 years. Bush and his "fiscal conservative" Republican cohorts blew the balanced budget and killed the government's tax revenues with his tax breaks.

Had Al Gore been awarded the presidency by the Supreme Court, the national debt would be "very manageable" at the worst. We wouldn't be stuck in these expensive wars that we can't win, either.

[k0nr4d]

Regardless of how much I make (or don't make according to you), I don't want to pay more in taxes per year so the government can throw my taxes into the toilet funding Joe the plumber who has no desire to find a job..

No one wants to pay for joe the plumber that doesn't want to work, however welfare programs ARE nessesary. Sometimes people get down on their luck and do need help. Alot of people do abuse this system...

What WOULD make sense, is to take these welfare people and put them to work on stuff like road construction, etc. Don't give them money, give them a low paying job that's unpleasant so they will be encouraged to find other work.

[12clicks]

its funny watching what trash quotes me just so I'll notice them.
kids, one day you're gonna wake up and realize that spending all your time pretending to be someone on GFY was a poor career choice.

[12clicks]

I might have missed something,but I am fairly sure he was black when he was elected.

yeah but he confused all of us with his hopey changey teleprompting abilities.

[Minte]

Taxes never should have been cut under Bush in the first place.

Clinton left Bush with a balanced budget and enough tax revenues to pay down the national debt in about 10 years. Bush and his "fiscal conservative" Republican cohorts blew the balanced budget and killed the government's tax revenues with his tax breaks.

Had Al Gore been awarded the presidency by the Supreme Court, the national debt would be "very manageable" at the worst. We wouldn't be stuck in these expensive wars that we can't win, either.

With all that history,what possible reason would Obama have to implement yet another tax cut?

[seeandsee]

[sperbonzo]

Taxes never should have been cut under Bush in the first place.

Clinton left Bush with a balanced budget and enough tax revenues to pay down the national debt in about 10 years. Bush and his "fiscal conservative" Republican cohorts blew the balanced budget and killed the government's tax revenues with his tax breaks.
.

With the popping of the .com bubble, and losses after 9/11, we were headed for a recession. Bush lowered taxes to stimulate the economy. (Unfortunately they also increased spending like crazy! :-( )

Obama knows that lowering taxes works. It always has. When the government taxes more and spends more, the money that the government puts into the economy is always used much less efficiently than when you let citizens use it the way they want to.

As for the "balanced budget". First of all it was crafted by Newt Gingrich and the Republicans in control of both houses for the first time since WWII, and secondly, it wasn't real anyway:

http://mises.org/freemarket_detail.a...Fraudmises.org


"There is no such thing as real accounting in government, of course, since there are no profit-and-loss statements, only budgets. Conse-quently, there is no way of ever knowing, in an accounting sense, whether government is adding value or destroying it. All we know is that the budget grew by a certain amount, for some ostensible purpose. And government is constantly lying to the public about how much of the public?s money is being spent and what it is being spent on.

As Gene Epstein has reported in Barron?s, during the Clinton administration, vast sums were transferred from the Social Security and Federal Highway Trust Funds to the budget so that Clinton and the Republican Congress could take ?credit? for balancing the budget. Any corporate CEO who raided his employees? pension fund and put the money in the company coffers so that the bottom line would look good and he could earn himself a fat bonus would end up in prison.

The federal government practices what it calls ?baseline budgeting,? whereby federal agencies announce that they wish to increase their budgets by, say, 10 percent a year, and if they only increase them by 5 percent that is called a 5 percent budget ?cut.? There can be no better example of accounting fraud than calling a budget increase a cut.

The General Accounting Office, Congressional Budget Office, and other federal agencies also use ?static analysis? when analyzing and reporting to the public on tax policy changes. That is, they assume that taxation has no effect whatsoever on economic behavior. So, if we have a $10 trillion economy, and impose a flat 75-percent income tax, these ?authoritative? sources will announce that the IRS expects to collect $7.5 trillion in revenues, each year, ignoring several hundred years of economic theory and practice.

Perhaps the biggest accounting scam perpetrated by the state has to do with various governmental ?off-budget enterprises.? As James Bennett and I wrote in our 1983 book, Underground Government: The Off-Budget Public Sector, for well over a century federal, state, and local governments have responded to citizen demands for tax, expenditure, and borrowing restraint by paying lip service to the demands while at the same time setting up the subterfuge of off-the-books government enterprises. "

[woj]

steps to help the long-term unemployed

Translation: we'll extend unemployment benefits to those who have been out of work 2 years already so they can stay on a paid vacation for another year... all paid by the "rich" who we need to raise taxes on...

[Vendzilla]

Government needs to cut spending before they do anything, failing to do so with the recent debt ceiling debate shows the government has only one agenda, to stay in office and run the numbers to see what will piss off their base the least.
With all the debate going on in the press, people are slowing waking up how fucked up the government is running the country, that's why we have the Tea Party. And why we have trolls against them, which is funny as to why anyone would be against a group that's complaining about the government in a peaceful manor. That I just don't get. Complaining about someone that's complaining, kinda makes them oxy morons?

[PornoMonster]

Government needs to cut spending before they do anything, failing to do so with the recent debt ceiling debate shows the government has only one agenda, to stay in office and run the numbers to see what will piss off their base the least.
With all the debate going on in the press, people are slowing waking up how fucked up the government is running the country, that's why we have the Tea Party. And why we have trolls against them, which is funny as to why anyone would be against a group that's complaining about the government in a peaceful manor. That I just don't get. Complaining about someone that's complaining, kinda makes them oxy morons?

I have notice a small pattern in the last week or so. It looks like to me, since everyone is talking about spending to stimulate the economy, the Gov said they will handle all spending. I just seen yesterday and today, that the left wants to get MORE people on food stamps, to help the economy.

[Minte]

I have notice a small pattern in the last week or so. It looks like to me, since everyone is talking about spending to stimulate the economy, the Gov said they will handle all spending. I just seen yesterday and today, that the left wants to get MORE people on food stamps, to help the economy.

They would do better if they gave them Harley's. Those still are made in the USA.

[stinkyfingers]

he wants to do a lot of things, all we get are speech after speech speech speech ... campaign ... speech , speech . I'm gonna, I wanna ... and everybody sucks it up

[Minte]

he wants to do a lot of things, all we get are speech after speech speech speech ... campaign ... speech , speech . I'm gonna, I wanna ... and everybody sucks it up

Watching NBC nightly news and his approval on the economy is at 28% so not as many people are buying it.

[TheSquealer]

Watching NBC nightly news and his approval on the economy is at 28% so not as many people are buying it.

Just proves its impossible to deliver on the promise of something as subjective as the concepts of "hope" and "change"

[phasic]

Haha I love it.

[Matt 26z]

Government needs to cut spending before they do anything

Spending actually needs to be heavily increased within the next few months. The private sector has failed to get the gears turning again. Ideally, we need about $3 Trillion injected into a very broad range of programs over a short period of time.

Home foreclosure proceedings have largely been stopped due to bullshit paperwork technicalities. Later this year the massive backlog of eviction notices are going to be sent out. Home values are going to plunge with all of this extra home inventory hitting the market all at once. This has the potential to set off a chain reaction that is disastrous for the US.

The only way to combat this is to inject serious money into local economies.

They would do better if they gave them Harley's. Those still are made in the USA.

Speaking of being made in the USA, it's amazing how America would rather buy the flimsy $2 product made in China instead of the $3 one made in USA. Everyone bitches about how corporations sent all of the jobs overseas. No, they didn't. Every American that loves cheap Chinese products sent those jobs there. Either buy American every chance you get or shut the fuck up about losing jobs to China.

[Vendzilla]

Spending actually needs to be heavily increased within the next few months. The private sector has failed to get the gears turning again. Ideally, we need about $3 Trillion injected into a very broad range of programs over a short period of time.
.

The only way to combat this is to inject serious money into local economies.

They tried that, didn't work

Speaking of being made in the USA, it's amazing how America would rather buy the flimsy $2 product made in China instead of the $3 one made in USA. Everyone bitches about how corporations sent all of the jobs overseas. No, they didn't. Every American that loves cheap Chinese products sent those jobs there. Either buy American every chance you get or shut the fuck up about losing jobs to China.

More like China has a preferred trade status they shouldn't have and get away with cooking the books on thier economy to keep the value of their money high.

[kane]

I was reading something by Mark Cuban the other day and it was actually kind of an interesting idea. He thought was that the last stimulus didn't work because it was a mess and just threw money in all directions hoping people would use it to create jobs. His thought is that they set up a system where a company could go directly tot he government and tell them how many people they would hire, what they would pay them and what they would do. The government then gives those companies that money and the money must be spent on those employees.

The idea is that if we do this for a few years many companies that want to expand but either don't have the capital or are unwilling to hire right now because of uncertainty could bring on new people and expand their business with very little risk. Hopefully in a few years these expansions will be profitable and those companies can then pay for those employees themselves.

It is a little crazy, but at least it puts money into a business owner's hands and it is used to create a job.

[Minte]

I was reading something by Mark Cuban the other day and it was actually kind of an interesting idea. He thought was that the last stimulus didn't work because it was a mess and just threw money in all directions hoping people would use it to create jobs. His thought is that they set up a system where a company could go directly tot he government and tell them how many people they would hire, what they would pay them and what they would do. The government then gives those companies that money and the money must be spent on those employees.

The idea is that if we do this for a few years many companies that want to expand but either don't have the capital or are unwilling to hire right now because of uncertainty could bring on new people and expand their business with very little risk. Hopefully in a few years these expansions will be profitable and those companies can then pay for those employees themselves.

It is a little crazy, but at least it puts money into a business owner's hands and it is used to create a job.

I can tell you from recent experience how difficult it actually is to even get a low interest loan from the SBA. We had qualified for an SBA504 loan to add a large addition to our main plant. After nearly 4 months and a mountain of P&L's,Proforma's,balance sheets,personal loan guarantees.etc,etc,etc we were told now we would start the next phase. I shit canned the plan and went directly to the bank. A 20 year loan at under 5% and the entire process took a few days over a month.

The really disappointing thing about the SBA was that they had recent bond issues and have several hundred million dollars that no one is using.

[looky_lou]

I can tell you from recent experience how difficult it actually is to even get a low interest loan from the SBA. We had qualified for an SBA504 loan to add a large addition to our main plant. After nearly 4 months and a mountain of P&L's,Proforma's,balance sheets,personal loan guarantees.etc,etc,etc we were told now we would start the next phase. I shit canned the plan and went directly to the bank. A 20 year loan at under 5% and the entire process took a few days over a month.

The really disappointing thing about the SBA was that they had recent bond issues and have several hundred million dollars that no one is using.

Looks like Government involvement really streamlines things huh?

[kane]

I can tell you from recent experience how difficult it actually is to even get a low interest loan from the SBA. We had qualified for an SBA504 loan to add a large addition to our main plant. After nearly 4 months and a mountain of P&L's,Proforma's,balance sheets,personal loan guarantees.etc,etc,etc we were told now we would start the next phase. I shit canned the plan and went directly to the bank. A 20 year loan at under 5% and the entire process took a few days over a month.

The really disappointing thing about the SBA was that they had recent bond issues and have several hundred million dollars that no one is using.

True, anything that involves the government seems to be bloated and filled with red tape so something like what I posted would have to be handled correctly to work.

BTW how is your offline business? Have you seen much of a downturn because of the economy?

[vdbucks]

Man, you guys are really putting too much thought into this...

All this is, and all it'll ever be is an election tactic. No one playing politics right now could give a shit about repairing anything. All they care about is trying to get elected next year. And that is a fact.

[NetHorse]

President Obama wants to get reelected?

[nostraludamus]

Man, you guys are really putting too much thought into this...

All this is, and all it'll ever be is an election tactic. No one playing politics right now could give a shit about repairing anything. All they care about is trying to get elected next year. And that is a fact.

I concur, the second they think something they say might not be popular they turn on their heels. Or "ass" of late one party just opposes the other like children. The problem is the goal of our Governments parties aren't inline with the goals of the people.

If one good idea manages to surface from the shitfest someone looking for "hill cred" will bash it down just because it came from blah blah blah who stands for blah blah blah...

[Minte]

True, anything that involves the government seems to be bloated and filled with red tape so something like what I posted would have to be handled correctly to work.

BTW how is your offline business? Have you seen much of a downturn because of the economy?

When the recession started late in 2007 we started to spend money on new equipment and a new product line. Then in Jan of 2010 we purchased a tire company. It turned out to be the right thing to do. We are still running 24/6 in plastics and 2 shifts in metal. 2011 has been a record year for us.

[kane]

When the recession started late in 2007 we started to spend money on new equipment and a new product line. Then in Jan of 2010 we purchased a tire company. It turned out to be the right thing to do. We are still running 24/6 in plastics and 2 shifts in metal. 2011 has been a record year for us.

That rocks! Glad to hear it.