Obama keeps ONE promise with new budget

[mirage62 0]

No health care or many of the other promises but I see that he is still sticking to his guns to "tax the wealthy"

I like the talk that "we aren't raising taxes we are just going BACK to the old tax rate"

We can't tax our way out of the mess that BOTH parties have gotten us into, we have to watch our spending (Defense included) and grow the economy.

Here's hoping that Obama's budget goes the way of his health care.

Oh yeah raise capital gains tax....there's another winner............. jeez

I'd bitch more but Ihave to go to work

Kevin Keenan is my hero, a double FUP, he does so much with so little

[hwt 0]

Read what this progressive professor has to say about him , and this guy is a liberal democrat? .
http://www.counterpunch.org/green12212009.html

[rushmc 23]

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Read what this progressive professor has to say about him , and this guy is a liberal democrat? .
http://www.counterpunch.org/green12212009.html

Now this article gives me hope

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[champu 1]

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We can't tax our way out of the mess that BOTH parties have gotten us into, we have to watch our spending (Defense included) and grow the economy.

our spending.

What I take away from that is our government has simply become a victim of its own size. The more large rectangles you start to see on plots like that, and the larger they become, the more it guarantees that any failure or shortcoming in that area is catastrophic to our deficit/debt/economy.

United we stand, divided we fall. Yeah, well... united (by large government programs) we can also fall... only from much higher.

[kallend 2,148]

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No health care or many of the other promises but I see that he is still sticking to his guns to "tax the wealthy"

Won't affect you then, Fortson.

...

The only sure way to survive a canopy collision is not to have one.

[Bolas 5]

We have to raise taxes to keep from hemorrhaging even more money while determining which programs need to be cut back or eliminated. Even if programs don't get cut this is still better long term than cutting taxes and increasing spending as we've done in the past.

Basic economics: when in debt, cut spending and try to increase income.

Stupidity if left untreated is self-correcting
If ya can't be good, look good, if that fails, make 'em laugh.

[rehmwa 2]

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Basic economics: when in debt, cut spending and try to increase income.

absoutely -

cut spending - you do that by cutting spending - obtuse

increase income is more subtle right? - for governments it's not like household or business income in that the gov leaches from the people and doesn't actually create anything of profit - so increasing income could be triggered by either cutting taxes or increasing taxes, it depends on the current economy and business environment on which action "nets" more income -

one thought on raising taxes, however, is it will always shrink the productivity of a country long term, so even when it temporarily increases income, the long term effect is damaging if it becomes regular policy - even though it may benefit many individuals by letting them keep their incumbency....



anyway - the easy lever is one to act on always

first - cut spending and cut hard
2nd - look at the environment hard and cut or increase taxes as appropriate to improve the net bottom line - long term outlook is cutting

today - our debt is huge - so that long term outlook to cut permanently is pretty far off - but temporary increases have to be balanced by occasional overall cuts as well as to not strangle the economy's potential for growth

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that, or just roll the dice and cut or increase as the voters ask and the economy doesn't really care either way



I'm good with either theory

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[rehmwa 2]

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so increasing income could be triggered by either cutting taxes or increasing taxes, it depends on the current economy and business environment on which action "nets" more income

the really neat thing about this, is that people that passionately argue for cutting or increasing taxes have no interest at all in balancing the budget, so the point is really moot - they are just interested in political hay

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Bolas 5]

The problem with tax cuts to stimulate growth is you need a inverse percentage of increase just to break even.

IE: Cutting taxes by 50% requires double the increase before any gain is realized.

In this uncertain economy, counting on any gain to offset losses just seems foolish to me.

Stupidity if left untreated is self-correcting
If ya can't be good, look good, if that fails, make 'em laugh.

[mirage62 0]

No health care or many of the other promises but I see that he is still sticking to his guns to "tax the wealthy"

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Won't affect you then, Fortson.

LOL, you right John it won't. It will effect the warehouse employee who won't get hired and some of the raises that won't be given.

I admire people like John that don't mind paying a bit more so our gov can spend a bit more on programs. John (I believe) thinks that the gov can fix the problem. I'm not bsing here I admire him - but I'm not him. I do not believe the gov needs more money they need to spend wisely what they are already getting.

My standard of living won't go down with new taxes. I'll pass them along to my customers just like everyone else. But I am feel nervous so I'll be a little more careful about hiring raises and such.

Kevin Keenan is my hero, a double FUP, he does so much with so little

[Bolas 5]

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I do not believe the gov needs more money they need to spend wisely what they are already getting.

Were this attitude adopted 10-15 years ago it may have been enough.

Now we need to do both.

Stupidity if left untreated is self-correcting
If ya can't be good, look good, if that fails, make 'em laugh.