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Old 08-24-2015, 11:46 AM
 
79,556 posts, read 33,708,686 times
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Quote:
Originally Posted by dv1033 View Post
LOL. Does Obama or Congress hold the purse strings?
Obama held the power over who would lead the Fed.
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Old 08-24-2015, 11:47 AM
 
79,556 posts, read 33,708,686 times
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Quote:
Originally Posted by Ferd View Post
sorry. you asked a question unrelated to the post you quoted.

the post you quoted is related to Qualitative Easing and actions by the fed.

Your question is budgetary in nature.


congress (the house actually) does initiate all federal spending and all tax related law.

Congress has zero impact on Fed policy. The President has little. however the President does appoint the Fed Chair with Senate approval. The current Fed Chair is Mr. Obamas pick.
As was Bernanke. The same guy who had just oversaw an epic failure on the part of the Fed.
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Old 08-24-2015, 01:43 PM
 
20,976 posts, read 16,282,976 times
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Hmmmm.......I just watched a commercial touting the benefits of moving your business to New York state TAX FREE!

Last time I looked, New York is run by a democrat governor......low taxes equal growth.
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Old 08-24-2015, 01:47 PM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,364 posts, read 14,070,534 times
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Quote:
Originally Posted by alphamale View Post
Hmmmm.......I just watched a commercial touting the benefits of moving your business to New York state TAX FREE!

Last time I looked, New York is run by a democrat governor......low taxes equal growth.
NY just started this to try to bring back some business to NY...NY has more taxes than you can shake a stick at....


as soon as I retire, I'm getting out of NY before its too late
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Old 08-24-2015, 01:52 PM
 
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Quote:
Originally Posted by workingclasshero View Post
NY just started this to try to bring back some business to NY...NY has more taxes than you can shake a stick at....


as soon as I retire, I'm getting out of NY before its too late
That was my point. They're hoping that by inviting businesses to come in tax free, the benefit will "trickle down" into the overall economy in the form of jobs. It's not rocket science.
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Old 08-24-2015, 01:57 PM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,364 posts, read 14,070,534 times
Reputation: 6524
Quote:
Originally Posted by alphamale View Post
That was my point. They're hoping that by inviting businesses to come in tax free, the benefit will "trickle down" into the overall economy in the form of jobs. It's not rocket science.
but businesses are not going to come...at least not a lot of them....

NY has too many taxes...and especially property tax is EXTREMELY high
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Old 08-24-2015, 03:28 PM
 
29,539 posts, read 15,487,988 times
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Quote:
Originally Posted by LexusNexus View Post
Because "trickle down" is the most absurd economic concept in history. It has never worked for the benefit of all and never will.
Actually, it constantly demonstrates how well it works.

All you have to do is look at our poor now compared to our poor 100 years ago.
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Old 08-24-2015, 03:34 PM
 
Location: ATX-HOU
10,218 posts, read 6,804,926 times
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Quote:
Originally Posted by pknopp View Post
Obama held the power over who would lead the Fed.
There's monetary policy which is the Fed and there's fiscal policy which is controlled by congress. Obama didn't get the fiscal policy he wanted from congress. Lasts, Obama just appoints the Fed like the Supreme Court. They don't report and are independent of the president.
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Old 08-24-2015, 03:36 PM
 
Location: ATX-HOU
10,218 posts, read 6,804,926 times
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Quote:
Originally Posted by PedroMartinez View Post
Actually, it constantly demonstrates how well it works.

All you have to do is look at our poor now compared to our poor 100 years ago.
100 years ago communism was being talked about in response to wealth inequality of the Industrial Age.
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Old 08-24-2015, 03:40 PM
 
79,556 posts, read 33,708,686 times
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Quote:
Originally Posted by dv1033 View Post
There's monetary policy which is the Fed and there's fiscal policy which is controlled by congress. Obama didn't get the fiscal policy he wanted from congress. Lasts, Obama just appoints the Fed like the Supreme Court. They don't report and are independent of the president.
He knows their positions and what they are likely to do before he ever appoints them. Besides, Bernanke had already been an epic failure at the job.

Obama DID NOT have to extend Bush's tax cuts either.
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