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Banks lent to everyone because the credit agencies rated these mortgages as solid investment vehicles and they were apply to sell the mortgages. If they were rated properly and could not be sold the banks would not have written the mortgages.
So anyone in favor of a progressive tax system - which we've had for 100 years and which was much tougher on the rich in years past, like 75% top rate tougher - makes someone a socialist. It's amazing what passes for analysis on the far right nowadays.
Clinton - slightly higher top rate, booming economy. Bush - lower top rate, unfinanced wars (one just for fun), deregulation of housing and Wall Street = financial catastrophe.
Not a socialist, a communist. And I don't use the term pejoratively, but simply to correctly identify the philosophy. It's basic Marxism 101: "From each according to his ability, to each according to his need". The progressive tax system is evil at its core, and rests on the moral foundation that it is correct to take more from certain people simply because they have it. And to give to others simply because they need it. Of course the real idea is much more practical: to penalize those with talent and drive. After all, those without those two qualities usually don't have much property to steal.
The fact that we have been utilizing this atrocious concept for a 100 years, or a 1,000 years, is irrelevant. Since it rests on an evil premise, it is evil. France has just taken this system to new heights, close to it's logical conclusion in fact, by taxing it's most prolific earners at an astounding 75%. What will happen? They will flee of course. It's a basic reflex, slavery does that to a person.
So let's just be clear. The progressive tax system is wrong. It has no place in an American economy. It is a collectivist concept that rests on the Robin Hood premise that it is good to steal from the rich to give to the poor. We need to be rid of it. A flat and fair tax system would be the best way to correct this evil.
It's OBAMA's 5 Trillion of debt borrowed, not Bush's.
I'm no big Obama fan but to be fair the first 2 or 3 trillion was spent in an effort to get us out of falling into the abyss. Preventing AIG from defaulting on paying the insurance to the banks, bailing out the car companies(if they collapsed we would be in a depression), funding the 2 wars that he did not start but had to pay for with no prior arrangements made to fund them. I could go on and on. I'll give him a 2 year pass. After that no serious attempts have been made to stop the debt. If I was a professor giving grades Obama would get a C or a C-. Same grades apply to Bush.
I'm no big Obama fan but to be fair the first 2 or 3 trillion was spent in an effort to get us out of falling into the abyss. Preventing AIG from defaulting on paying the insurance to the banks, bailing out the car companies(if they collapsed we would be in a depression), funding the 2 wars that he did not start but had to pay for with no prior arrangements made to fund them. I could go on and on. I'll give him a 2 year pass. After that no serious attempts have been made to stop the debt. If I was a professor giving grades Obama would get a C or a C-. Same grades apply to Bush.
Both parties share equally. Both parties favor big government. Both parties favor the evil of a progressive tax system. Neither party is really advocating a balanced budget. Neither party is advocating basic responsibility. Both parties are willing to print money to enslave unnamed future generations.
The problem isn't the parties, the problem is the citizens. The citizens need to be dedicated to a rational basis for living life, based on the cardinal premise and supremacy of Freedom. Bad government follows from bad citizens. We can't escape the blame for an Obama. We are Obama. Or Clinton. Or Bush. All of whom offer the same basic political trash: collectivism, victimism, interventionism, cynicism.
The politicians we pick from are interchageable and largely irrelevant. Seriously, Obama vs Romney is rearranging the deck chairs on the Titanic. The ship eventually collides with Reality either way. We need to focus not on the trivia of which politician to choose, but which philosophy to choose. And I can tell you we have made the wrong choice and need to return to the drawing board.
Both parties share equally. Both parties favor big government. Both parties favor the evil of a progressive tax system. Neither party is really advocating a balanced budget. Neither party is advocating basic responsibility. Both parties are willing to print money to enslave unnamed future generations.
The problem isn't the parties, the problem is the citizens. The citizens need to be dedicated to a rational basis for living life, based on the cardinal premise and supremacy of Freedom. Bad government follows from bad citizens. We can't escape the blame for an Obama. We are Obama. Or Clinton. Or Bush. All of whom offer the same basic political trash: collectivism, victimism, interventionism, cynicism.
The politicians we pick from are interchageable and largely irrelevant. Seriously, Obama vs Romney is rearranging the deck chairs on the Titanic. The ship eventually collides with Reality either way. We need to focus not on the trivia of which politician to choose, but which philosophy to choose. And I can tell you we have made the wrong choice and need to return to the drawing board.
When it come to wacky people in this world you take the cake. I can only imagine how many nights you go off in your bathroom mirror telling yourself how enlightened you are. Funny but I actually feel bad for you in a weird way. Keep up the good work, it add some humor to my day.
What exactly about what Marc said is 'wacky', Bababula? Just about everything he said makes sense if you think about things. Do you realize that we are headed for 20 Trillion in debt if Obama is re-elected? He said he would half the debt in 4 years, instead it doubled. Sooner or later the bond markets are going to take notice of this and then the fun is really going to begin. The only way we could ever possibly pay back this debt is to inflate our way out. Not that I think Romney is a whole lot better but at least he does have private sector experience unlike the community orgnizer in chief. I think Romney can do what needs to be done --but he's not going to be honest about it because he would never get elected if he was.
We have become a nation of crybabies and dependents. And the longer the welfare system continues the worse it is going to get. We are indeed heading down the road of Greece. You and many others just refuse to see it!
We have become a nation of crybabies and dependents. And the longer the welfare system continues the worse it is going to get. We are indeed heading down the road of Greece. You and many others just refuse to see it!
Actually unemployment is down to early 2009 levels and the US is much better positioned now 4 years after the Dubya Great Recession than most Western democracies are. Since you get all of your useless information from Fox, you would never know this.
Actually unemployment is down to early 2009 levels and the US is much better positioned now 4 years after the Dubya Great Recession than most Western democracies are. Since you get all of your useless information from Fox, you would never know this.
I listen to Bloomberg Business Radio every day, and--as listeners are aware--that station interviews several stock market analysts/mutual fund managers/financial advisors every day. The one question that all of these folks are always asked is, "What investments do you suggest at this point for our listeners?".
Without fail, these people respond by advising that investors buy stock in US corporations that pay dividends, and that everyone should avoid investing in any companies based in Europe. Some of them do advise buying into emerging markets and/or investing in commercial real estate through REITs, in addition to investing heavily in US-based companies, but the common thread with all of them is..."Invest in American companies".
If the US was in such a dire position, why would these folks be firm in their common conviction that the US is the best economy in which to invest currently?
Last edited by Retriever; 10-17-2012 at 08:49 AM..
Hey EB -- haven't you figured out that the reason unemployment is down slightly is because they have stopped counting MILLIONS of people who have left the workforce, because they have given up looking for work? You really don't get it. The numbers are a scam.
Where do you get your info EB? MSNBC? Boy, that's an impartial channel!!!
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It's OBAMA's 5 Trillion of debt borrowed, not Bush's.
