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Pump a tremendous amount of money into bond markets and of course it's going to flow to the rich; QE played a huge role in increasing capital gains in the last few years and that flows right to the top.
Really? Then why is it that our retirement is invested in mostly bonds, but is earning only about 5% of what it was before OB??????
One of the reasons the top 10% are rising they are paying far less taxes then ever before. While the lower classes are getting hit with 20-30% taxes not including all the other taxes we pay for.
Who the hello is paying 20-30% effective federal tax rate in the U.S.?
Don't worry, the wealth is going to trickle down any day now. We just need to give Reagan's policies some time to work. It's only been 35 years.
Obama agrees.
Obama has done more trickle down than Reagan himself.
Sure, on the campaign trail Obama will blast Trickle Down to the cheers of his fans, but we are talking about a man who will not only lie about the circumstances of his own mother's death, but a man who will repeat that lie even after getting caught in it.
Obama's FED has started QE after he won in 2008 and continued it forward. QE is a variation of Trickle Down.
Every single Fed pick by Obama for chairman, regional governors, etc has been to a Trickle Down QE supporter. If Obama did not support QE Trickle Down he would not pick a QE Trickle Down supporter EVERY SINGLE TIME.
Democrats can no longer complain about Reagan and Trickle Down. They are either too stupid or corrupt to mention Obama doing MORE Trickle Down than Reagan.
Let's not forget Greenspan who retired from " public service" in 2006. He referred to the housing bubble as a bit of froth in the market. Housing peaked 2005/6, depending on geo area.
Greenspan should have left tar and feathered.
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Greenspan was the champion of eliminating portions of Glass Steagal going back to the Reagan years. He worked Congress and approved the merger of Citi and Travelers, before Congress approved " too big to fail".
Greenspan was a moron BUT nothing changed the last 8 years either.
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As an aside, there was a global housing bubble. Several markets throughout the world were more inflated than the U.S. If memory serves, South Africa experienced the greatest housing inflation, well in excess of anything in the U.S.
Odd that houses in my neighborhood changed in value through all of this very little.
And...President Bush was sending orders to the Dem-majority of House and Senate to get their butts in gear and address the mortgage problems of Fannie Mae, Freddy Mac and the nonsense law of congress to "force" mortgage entities to loan $'s to people to buy homes that they could not afford. Let's put the blame where it belongs! I refer any non-believer to the archived files of C-SPAN coverage of the House and Senate which record the Dems spouting out speeches that "all is well...Bush is wrong." The whole crash of late 2008 could have been stopped before it started if the Dems who were in charge of House and Senate since 2006 would have listened and corrected the problem that they caused in the first place.
He was doing that in the same way Obama is trying to close Gitmo.
Who the hello is paying 20-30% effective federal tax rate in the U.S.?
Small to mid-size pass-through S Corp business owners, otherwise known collectively as the nation's biggest employers. I'm retired now, but that's what I paid, and my still working brother pays that, as well. They're overtaxed, so jobs are eliminated.
Bernanke had nothing to do with the Mortgage mess. Bush did need Congress to change laws that forced the money-lends to finance low-income people who should never and could never afford a mortgage for buying a house.
B.S. All Bernanke had to do was raise rates and it all stops.
We are all free to move to states without state taxes.
Some properties in wealthy metro areas have annual tax bills in excess of $100,000/ year.
No one is forced to own property in areas that impose very high property taxes.
Choices have consequences.
Who the hello is paying 20-30% effective federal tax rate in the U.S.?
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Originally Posted by InformedConsent
Small to mid-size pass-through S Corp business owners, otherwise known collectively as the nation's biggest employers. I'm retired now, but that's what I paid, and my still working brother pays that, as well. They're overtaxed, so jobs are eliminated.
Yep, Because of the propaganda and because people don't understand the basics they don't realize they are supporting a government that is hurting small business, it is NOT hurting the big companies. Because they are able to get the support of people to funnel more money to the government, government is happy that our population is a bunch of financial illiterates.
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