60 minutes = $188 million in new debt

[Faldur]

Pretty disingenuous, spud, but here's the error of your ways. The 3 exceptions that get you past the 15% naximum rate are:

The capital gains discussion began when trish insinuated we were not taxing capital gains. "We agree. We should tax capital gains." I pointed out that currently all capital gains are taxed at differentiating rates. All that is except the lower tax brackets, 10% - 15%.

And it comes down to you insulting me because of the three exceptions? So you are pointing out that some long-term capital gains are actually taxed at a higher rate than I indicated? I really didn't think I needed to point out that info to you as it only bolstered my opinion.

[hippifried]

No. I'm insulting you because you're a compulsive liar, a parrot, & don't know what you're talking about. All your "LOLs" & other lame attempts at being snide &/or condescending don't change that, because you don't have what it takes to be a genuine snob. You're a wannabe. It's gotten to the point where your constant repitition of falsehood & misinformation is just tedius. Insipid might be a better word.

[Faldur]

No. I'm insulting you because you're a compulsive liar

Name a single instance.


In the arena of ideas Hippi you have an unloaded gun. You have no facts in which to defend your positions/statements and when cornered you resort to name calling. It's really all you have, in a way I feel sorry for you.

[yodajazz]

It appears for some Republicans there is a consderation to default on US debt. According to some this would be a great upheaval in the entire world economy.

http://in.reuters.com/article/2011/0...57573120110608

I suppose upheaving the world would be better than return to the terrible times of 2001, before 9/11. Note sarcasm.

However, a new article says taxes may be placed on the table.
http://news.yahoo.com/s/nm/ts_nm/us_usa_debt
In this article Republicans are still arguing that keeping the Bush tax cuts will create jobs, even though 8 million jobs were lost under that tax structure. The fact is employment and the government budget especially were in much better shape under the old tax code in 2001. And this was pre-wars. We still have not attemped to pay for the wars we were/are in. Doesnt this tie into fiscal responsiblity?

I will acknowledge that I had to do research to repsond to Faldur. I now believe that the child tax credit, which puts cash into the hands of many poor people should also be reduced from $1,000 per child, or eliminated also. But I still argue that money of the poor circulates at a greater rate in a local economy, whereas wealthy have more choice to invest in overseas economies. Wallstreet cited foreign investment as key to it's recent successes. They helping to create jobs and wealth outside the US. I read another article on world wealth, saying that the numbers millionaires worldwide, have increased by 12% around the world.
http://www.bloomberg.com/news/2011-05-31/world-s-wealthy-rose-by-12-on-market-gains.html

[Faldur]

Well Yoda, I am one who is all for letting the government default on its debt. I believe when you have spending that is so rampant and irresponsible its time to cut the spoiled brats credit line off. But thats just me.

I think tax increases have to be on the table, but I strongly believe that they need to be on all working americans. I think a big part of our problem is over half the working population have no ownership in their country.

Our country has $61.5 trillion in unfunded liabilities. Thats a stagering $560,000 per household. We cannot afford to keep spending at anywhere near the levels we are.

[yodajazz]

Well Yoda, I am one who is all for letting the government default on its debt. I believe when you have spending that is so rampant and irresponsible its time to cut the spoiled brats credit line off. But thats just me.

I think tax increases have to be on the table, but I strongly believe that they need to be on all working americans. I think a big part of our problem is over half the working population have no ownership in their country.

Our country has $61.5 trillion in unfunded liabilities. Thats a stagering $560,000 per household. We cannot afford to keep spending at anywhere near the levels we are.

Ownership in this country is more than paying income tax, period. The tax rate is set by the government. It's not individuals refusing to acknowledge the US as a nation, or refusing to participate. As long as a person is spending money within the US, they are all part of a circulatory money system. Take for example the cell phone systems here. Many people considered poor, these days have cell phones. Let's assume that, many are not making enough to pay income taxes. There are direct taxes related to the phone bill. And it contributes to a company that employs people, who make better salaries, enough to pay into the income tax system. If there were less people using cell phones, (we're talking about working poor people, as one example), I would bet that the price of cell phones would be more expensive, in order to reach their operating costs. And this is but one example.

The notion that poor people are only a drain on society, or have no ownership in the nation, is just not true.

[onmyknees]

Since you agree all the blame is on George W. Bush (who gave away a ten year surplus to the wealthy in tax cuts, then proceeded to engage in two war/nation-building projects in the Middle East while not even reporting the costs in the official budget and made deals with oil and lumber to give away our national resources without expectation of any return), the answer to your question is easy. Reverse all the Bush initiatives. Increase tax revenues, collect royalties again for our natural resources, plug up the tax loopholes, quit the wars and the nation-building and invest our money and effort domestically.

At least that's one approach. Another is cut taxes, let our fortune 500 billionaires (remember when they were just millionaires) to become trillionaires, cut medicaid, cut medicare, raid social security, let the elderly die and rot in the streets, strip, grab the shampoo and wait for the shower of gold to start trickling down from the illustrious ones who live above us.

Trish....Give it up....Not only is your continued reliance on "Blame Bush" in the absence of any substance.... lame, it's factually incorrect. I'm trying not to be patronizing here, but you are very keen on some matters, but monetary and fiscal policy does not appear to be your forte...just as it's obvious it's not Obamas. We all know Bush spent too much...but to compare his deficits to this guys is laughable. Bush couldn't make a pimple on this guys ass in terms of spending. When will you liberals understand that we have structural fiscal problems..and taxing the rich even at the old 75% rate isn't going to change that. Don't you read the SSI, Medicare, and Medicare actuarial reports? Don't you realize we're borrowing money from China to give to Greece? Don't you realize that Obama and Bernackie's pump priming and quantitative easing and devaluing the dollar is a colossal failure? Don't you realize that 40 years of liberal social engineering has brought us to the brink? Don't you realize Obama hasn't a clue about how to get us out of this mess...and has no growth agenda at all? Doesn't it occur to you that if Obama was serious about these issues he would have a plan, but why not let Paul Ryan go first, then sit back and demagogue??...why get bogged down in the details when there's an election to be won? His plan was like yours...tax the rich...then he caved on the Bush Tax cuts...now what's his plan????????
Don't you understand the root causes of the disaster we find ourselves in were the result of more liberal and governmental tinkering with the sub prime mortgage market and the belief that everyone should get a slice of the american housing dream...even lowlifes and pikers and scammers? Don't you realize that Obama's budget was defeated 97-0 and that the Democratically controlled Senate hasn't submitted a budget in 18 months? Don't you understand that right now every taxpayer is in hock for nearly 200K because of this spending? My gawd...it's all right there...the evidence is overwhelming...and there you go like some child of the 60's crying "tax the rich".....ok fine tax them...then what?? It may make you and Ed Shultz feel good, but it won't do a fucking thing to resolve the fundemental problems we face. You think any self respecting millionaire is going to sit by with his finger up his ass while the government takes 75% of his income? He'll move it to the Cayman's faster than you can cry "Blame Bush".

Our problem is not only financial Armageddon, it's a total and complete lack of leadership, and a basic understanding by this administration of how capitalism works. You don't learn that by studying civil rights law or community organizing...The fact of the matter is investors, businessmen, entrepreneurs all understand this guy is poison to a coherent monetary and growth policy so they're stuffing their money in their mattresses. Don't you think investors with capitol when seeing what Obama did to the secured bond holders of GM realized this guy was like a cancer to investment capitol ? The only capitalism this administration understands is crony capitalism, You and Paul Krugman's dream of Keynesian economics should be relegated to the dusty book shelves of academia.

[Faldur]

Ownership in this country is more than paying income tax, period. The tax rate is set by the government. It's not individuals refusing to acknowledge the US as a nation, or refusing to participate.

I agree that the 48% are not avoiding or dodging paying a fair share. Tax rates are set by politicians, who are in office to get re-elected. Hence the reason we have 48% of working americans not paying any federal income tax. I believe, that when someone is responsible for paying for something, be it a house, car or government. Pride and ownership occurs. People start to listen and make decisions on what is best for the government, not the individual.

OnMyKnees, Greece can you frickin believe that! The kid with the golden credit card offering to bail out the economy in Greece! I sure hope he checked with the Chinese before he made that statement.

As we continue to drop bombs in Libya, "were only going to be here days, not weeks", was the statement I remember. Where does months fit into that equation? And now we have military presence in Yemen? So lets start another war? Someone polish up this guys peace prize for him.

By the way, that picture is hilarious. But you do know you are now a racist, he has big ears.

[onmyknees]

I agree that the 48% are not avoiding or dodging paying a fair share. Tax rates are set by politicians, who are in office to get re-elected. Hence the reason we have 48% of working americans not paying any federal income tax. I believe, that when someone is responsible for paying for something, be it a house, car or government. Pride and ownership occurs. People start to listen and make decisions on what is best for the government, not the individual.

OnMyKnees, Greece can you frickin believe that! The kid with the golden credit card offering to bail out the economy in Greece! I sure hope he checked with the Chinese before he made that statement.

As we continue to drop bombs in Libya, "were only going to be here days, not weeks", was the statement I remember. Where does months fit into that equation? And now we have military presence in Yemen? So lets start another war? Someone polish up this guys peace prize for him.

By the way, that picture is hilarious. But you do know you are now a racist, he has big ears.

Yea....follow the bouncing ball....Let's borrow money from China who delibertly devalues thier currency to keep the trade decifict completely in thier favor....Let's pay 5% on that money and fall further into debt, and fuel thier economy with needed capitol so they can can continue to suck jobs away from American Industry...then let's take those dollars and hand them to the Greeks...European Socilaists ....so thier state run industries can continue to allow thier union workers 8 weeks vacation and early retirement. You couldn't make this shit up brother !

[Cuchulain]

Trish....Give it up....Not only is your continued reliance on "Blame Bush" in the absence of any substance.... lame, it's factually incorrect. I'm trying not to be patronizing here, but you are very keen on some matters, but monetary and fiscal policy does not appear to be your forte...just as it's obvious it's not Obamas. We all know Bush spent too much...but to compare his deficits to this guys is laughable. Bush couldn't make a pimple on this guys ass in terms of spending. When will you liberals understand that we have structural fiscal problems..and taxing the rich even at the old 75% rate isn't going to change that. Don't you read the SSI, Medicare, and Medicare actuarial reports? Don't you realize we're borrowing money from China to give to Greece? Don't you realize that Obama and Bernackie's pump priming and quantitative easing and devaluing the dollar is a colossal failure? Don't you realize that 40 years of liberal social engineering has brought us to the brink? Don't you realize Obama hasn't a clue about how to get us out of this mess...and has no growth agenda at all? Doesn't it occur to you that if Obama was serious about these issues he would have a plan, but why not let Paul Ryan go first, then sit back and demagogue??...why get bogged down in the details when there's an election to be won? His plan was like yours...tax the rich...then he caved on the Bush Tax cuts...now what's his plan????????
Don't you understand the root causes of the disaster we find ourselves in were the result of more liberal and governmental tinkering with the sub prime mortgage market and the belief that everyone should get a slice of the american housing dream...even lowlifes and pikers and scammers? Don't you realize that Obama's budget was defeated 97-0 and that the Democratically controlled Senate hasn't submitted a budget in 18 months? Don't you understand that right now every taxpayer is in hock for nearly 200K because of this spending? My gawd...it's all right there...the evidence is overwhelming...and there you go like some child of the 60's crying "tax the rich".....ok fine tax them...then what?? It may make you and Ed Shultz feel good, but it won't do a fucking thing to resolve the fundemental problems we face. You think any self respecting millionaire is going to sit by with his finger up his ass while the government takes 75% of his income? He'll move it to the Cayman's faster than you can cry "Blame Bush".

Our problem is not only financial Armageddon, it's a total and complete lack of leadership, and a basic understanding by this administration of how capitalism works. You don't learn that by studying civil rights law or community organizing...The fact of the matter is investors, businessmen, entrepreneurs all understand this guy is poison to a coherent monetary and growth policy so they're stuffing their money in their mattresses. Don't you think investors with capitol when seeing what Obama did to the secured bond holders of GM realized this guy was like a cancer to investment capitol ? The only capitalism this administration understands is crony capitalism, You and Paul Krugman's dream of Keynesian economics should be relegated to the dusty book shelves of academia.

Wow. So much CON horseshit stuffed into one little post.