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I juyst live how you leave Clinton out of the mix when he was responsible for more damage to the middle class of this country and the upper making more money than any other President in a long long time. Who do you think the Free Trade agreements helped and hurt? How about the repeal of Glass Steagall? The upper class benefits and the middle and lower classes suffer do to that.
By free trade agreement, do you mean NAFTA, a trading agreement between Canada, Mexico and the U.S. or something else?
The banking industry had been seeking the repeal of Glass- Steagall since the 80's. Greenspan gave the merger of Citibank and Travelers Insurance the Green light based on his interpretation of GL and then he got busy and went to work on Congress.
The Gramm-Leach- Bliley ( < all Republicans) Act repealed a portion of Glass Steagall. The vote was veto-proof:
Republicans 207-5 in favor
Democrats-155-51 in favor
Nothing within the repealed portion of GS would have prevented the housing bubble.
The tax rate on capital gains should be increased.
We need to drastically cut government spending, but there are way to many people, making way more money then is beneficial for the economy on capital gains alone.
I am in the David Cote camp. The only meaningful way out of debt is to reform Medicare and increase taxes. Reform includes pushing the eligibility age and means testing. Capital gains taxes, including the whole hedge fund/private equity managers thing. The financial industry has too much power over DC regardless of who is sitting the oval or which party holds a majority.
I am in the David Cote camp. The only meaningful way out of debt is to reform Medicare and increase taxes. Reform includes pushing the eligibility age and means testing. Capital gains taxes, including the whole hedge fund/private equity managers thing. The financial industry has too much power over DC regardless of who is sitting the oval or which party holds a majority.
Yes tax reform in particular the carried interest loophole used by hedge fun managers and let interest rates slowly rise to where they belong rather than supplying cheap money to speculators.
and you dont think that when reagan lowered tax rates on everybody and boosted the economy might have been a success story?
Reagan promised to balance the budget. He did not.
The debt ceiling was lifted a record 18 X during the Reagan years.
The nominal debt more than tripled during the Reagan years.
Payroll taxes were increased and promptly spent.
Clinton raised taxes and the economy flourished.
Bush reduced taxes and the economy had a better 2 year run ( bolstered by the bubble) before it hit the wall.
Economies seem to improve and decline regardless of the deal on income taxes.
I don't see a single thing noted here that would make the income inequality gap attributable in any way to the President.
A question: if companies are not hiring, how exactly does an employee leverage his/herself in such a way to get that increase in pay?
If the job you have is the only job you can get, you're pretty much out of luck, huh?
really? how about all the new regulations the current administration is putting in place? obamacare anyone? 20,000 pages of NEW regulations. new regulations on business, etc. when that happens business stops hiring people, and does more with what they have. last month there were 165,000 jobs added, sounds good right? unfortunately 312,000 people dropped OUT of the workforce. not good.
Quote:
Originally Posted by middle-aged mom
According to the U.S. Census, there were 49 million people in the U.S. ( about 16% of the population) who were without health insurance in 2011. I think the current number is now in excess of 50 million. The percentage of the population who are uninsured has been steadily increasing since the year 2000.
Last year, the CBO estimated that 26-27 million would likely remain uninsured under the ACA.
The number of uninsured is projected to decline by about 40%.
the CBO has been wrong many times before. but you dont think that employers dropping health care coverage, would mean that more people might end up without health insurance? despite what the CBO says?
Quote:
Originally Posted by timberline742
Except Reagan raised taxes before lowering them. Reagan's tax cutting is one of the greatest promoted frauds of the right (no, I'm no Democrat).
really? the top income tax rate during the carter years was 90%, reagan dropped that to 28%, along with all the other income tax rates. were there taxes increased? probably, but they were user based taxes.
Quote:
Originally Posted by middle-aged mom
Reagan promised to balance the budget. He did not.
The debt ceiling was lifted a record 18 X during the Reagan years.
The nominal debt more than tripled during the Reagan years.
Payroll taxes were increased and promptly spent.
Clinton raised taxes and the economy flourished.
Bush reduced taxes and the economy had a better 2 year run ( bolstered by the bubble) before it hit the wall.
Economies seem to improve and decline regardless of the deal on income taxes.
true, but there is also a thing that is more pervasive than taxes, and that is government regulation. increase them and it hurts business, decrease them and it helps business.
really? how about all the new regulations the current administration is putting in place? obamacare anyone? 20,000 pages of NEW regulations. new regulations on business, etc. when that happens business stops hiring people, and does more with what they have. last month there were 165,000 jobs added, sounds good right? unfortunately 312,000 people dropped OUT of the workforce. not good.
the CBO has been wrong many times before. but you dont think that employers dropping health care coverage, would mean that more people might end up without health insurance? despite what the CBO says?
really? the top income tax rate during the carter years was 90%, reagan dropped that to 28%, along with all the other income tax rates. were there taxes increased? probably, but they were user based taxes.
true, but there is also a thing that is more pervasive than taxes, and that is government regulation. increase them and it hurts business, decrease them and it helps business.
There are many smart people who would argue the exact opposite. That it is the lack of government regulation in the past decade that is leading us down the path of - the 1% keeping all of the wealth. For us a country - if that trend continues - we will fall.
It's Obama that preaches about income gap and redistribution. It's not as if he didn't admit it. His policies were geared towards it.
Obviously he failed....again.
Posted with TapaTalk
Income gap didn't just happen - it's been trending this direction for more than 20 years. While no one likes the word 'redistribution' ~ the fact remains that IF this trend continues ~ the US will fail. Will fail.
Well wealth sharing since the mid 60's has discouraged work so why would we not expect more to be at the bottom. There is no middle class on welfare; its the bottom no matter now much to raise it.Others will have to be paid more for working. that can contribute which is what pays for welfare programs.
Yes, if so many people have decided the dole is preferable to work, one would expect wages to increase for the remaining workers...but wages have been falling. What's up with that?
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