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Actually I would say the credit bubble is due to the average American not having the self control to only buy what he/she can afford...
So you expect impoverished rabble with a 3rd grade education on meth fueled binges; or heroine addicts that look like they eat roasted porcupine over those burning trash barrels on the beach; or bourbon stew bums mellowing past closing time on the benches in the public parks to be the responsible party? That it? Willy da Stench Wilson was entrusted with a bank charter ?
If Willy, da Stench, Wilson brings his own dirty razor for some vascular surgery, the licensed medical doctor isn't gonna use it. Yet, you think anyone who needs a shot of insulin can feel around for a prick in a medical waste bag if they don't got no needle since the cranker says so.
Oh yeah, even if we increased the income taxes on the top 1%, by 20%, we would bring in about $50 billion a year. Since 0bama is spending about $120 billion in deficits each month.... I hope you see how laughable taxing the income of the rich would be, when attempting to pay down the debt.
BTW, after a few years of federal tax rates of over 50% on the top 1%, we would have a whole lot fewer rich people in America - cuz they would leave the country, or give up trying.
The war would get cheaper in a hurry bub.
The sooner the rentier class leaves, the better.
Old money is like royalty and they don't make squat so I don't buy into that neo-liberal rubbish that pretends them to be business men when they are nothing but feudal lords.
Ask what they produce not what they consume.
Oh and I forgot. No taxes on industrial capital or income taxes of any kind. The producer will love to stay.
Just a reminder, Mortgage credit is a big contributor, BUT, When the democratic congress forced the minimum wage increase up, prices went up, unemployment went up, and everything else fell into the toilet.
If you look at all economic figures closely, you will see, that as the minimum wage increases went into effect, unemployment went up, prices went up, following that, incomes went down.
When you increase the minimum wage, without equally increasing the wages of those making more than minimum wage equally, you depreciate their income to the degree prices for goods and services go up because of the minimum wage increase. When you deflate their wages, they have less to spend on non essentials, since those essential items, goods/services/food, is now more costly, without a change in their income. Less money for non essentials, means less money being spent, which further erodes the economy.
If you want to thank someone for this debacle, thank Barney Frank for declaring that there were no problems with Fannie Mae and Freddie Mac, and that the republicans were trying to be alarmist, and you can additionally thank the democrat congress who raised the minimum wage to a level that increased unemployment, artificially deflated everyone else's incomes, and help put us in this situation!
someone needs to tell you that it was gop policies during the clinton years? not, everyone profited during clinton because everyone was taking part in the economy, not intentionally withholding their participation to screw america to make obama look worse.
Someone need to tell you that congress has been run by democrats for 4+ years? someone needs to tell you the house is controlled by the right and the senate is filibuster proof
Someone need to tell you that the senate is sitting on nearly 300 bills, and the senate is democratic? see above
Someone need to tell you democrats have yet to pass a budget?the right controls the house where finance bills originate
Someone need to tell you that it was a democratic stimulus bill, designed to lower the gdp beginning in 2015? facts to back that up?
Someone need to tell you that allowing people to keep more money, is in no way harmful to the economy? it is "who" you let keep the money, the wealthy just add it to the piles they have already, the working poor and middle class use it, putting it right back into the economy
Someone needs to explain to you that cutting social security money puts the program in danger of insolvency? funny, isn't that exactly what the wing nuts want to destroy ss and medicare? Did they care that their unfunded part d would destroy medicare?
Someone needs to tell you that the effective tax rate on the top 1% actually increased during the bush years, not decreased? bs, it has done the exact opposite, effective taxation of the top 1% has been lowered during bush
Quote:
the 2010 economic report of the president included a table that showed "that the effective tax rates that applied to high-income taxpayers reached their lowest levels in at least half a century in 2008." the table (labeled table 5-8) had data running back to 1960 and for both taxpayers earning at least $250,000 and taxpayers earning over $2 million. The table mirrors the piketty-saez data in that the 2008 levels are at or near lows for the period, with only the early 1990s coming close.
Someone needs to tell you that the current economy is a result of democratic policies?
Are you embarassed yet? I doubt it, but that doesnt mean you shouldnt be.
Last edited by buzzards27; 12-13-2011 at 11:38 AM..
Come on, admit it. Look what's going on out there. There are many jobs that used to pay $75k-$90k during the Clinton era that now pay only $50k! It's a corporate paradise -- Republicans do not want to pass the social security payroll tax cut because it doesn't help millionaires as much as it helps the middle class... they know that it's starting to work... And it will work to boost demand... And we know that republicans want unemployment as high as possible and the economy in the chitter so Obama doesn't get reelected.
This economy is demand-driven, like everything else in the world. It's like pulling on a string...you gotta put more money in the working/middle class peoples' pockets to really get a recovery going. Every idea the republicans come up with are essentially 'pushing on a string' ... tax cuts for millionaires and billionaires??! Really? The unjustifiable 15% taxes on capital gains?
All republican policies are doing is the following:
-Keeping unemployment as high as possible = labor costs for corporations as low as possible
-Pandering to the defense industry, the military industrial complex
-Creating inflation that the working/middle class has to try to deal with
-Pouring money into multi-national corporations, foreign investments in China and the BRIC countries,
-Building up multi-millionaires' positions in hedge funds, that are driving up oil, gas and other commodity prices that we all end up paying for in the end.
This country sucks.
The only exception might be Ron Paul.
If this doesn't show how stupid liberals are, nothing does. Damn I am so sick of their BS it's not funny. If only they had an idea what they were talking about. Get a clue.
I don't know about the republocrats but who is running dollar carry trades? That can certainly create a perverse incentive from Wall Street to keep our economy in the tank.
You figured us out. The guys who own all the businesses are purposely killing the economy and destroying our own wealth in the process just to make ourselves look better.
Can you believe how stupid these *******s are ? Who would even think something like that?
So you expect impoverished rabble with a 3rd grade education on meth fueled binges; or heroine addicts that look like they eat roasted porcupine over those burning trash barrels on the beach; or bourbon stew bums mellowing past closing time on the benches in the public parks to be the responsible party? That it? Willy da Stench Wilson was entrusted with a bank charter ?
If Willy, da Stench, Wilson brings his own dirty razor for some vascular surgery, the licensed medical doctor isn't gonna use it. Yet, you think anyone who needs a shot of insulin can feel around for a prick in a medical waste bag if they don't got no needle since the cranker says so.
Why don't we start with expecting the middle class family making $75k/yr to buy a home that is reasonable to pay off instead of stretching themselves to a breaking point so they can have a 2,500sqft house? Or why don't we start by expecting a family of four to not take a vacation overseas every year while racking up credit card debt?
Do you always start with the most extreme cases, or are you capable of having a conversation like an adult?
Come on, admit it. Look what's going on out there. There are many jobs that used to pay $75k-$90k during the Clinton era that now pay only $50k! It's a corporate paradise -- Republicans do not want to pass the social security payroll tax cut because it doesn't help millionaires as much as it helps the middle class... they know that it's starting to work... And it will work to boost demand... And we know that republicans want unemployment as high as possible and the economy in the chitter so Obama doesn't get reelected.
This economy is demand-driven, like everything else in the world. It's like pulling on a string...you gotta put more money in the working/middle class peoples' pockets to really get a recovery going. Every idea the republicans come up with are essentially 'pushing on a string' ... tax cuts for millionaires and billionaires??! Really? The unjustifiable 15% taxes on capital gains?
All republican policies are doing is the following:
-Keeping unemployment as high as possible = labor costs for corporations as low as possible
-Pandering to the defense industry, the military industrial complex
-Creating inflation that the working/middle class has to try to deal with
-Pouring money into multi-national corporations, foreign investments in China and the BRIC countries,
-Building up multi-millionaires' positions in hedge funds, that are driving up oil, gas and other commodity prices that we all end up paying for in the end.
Why don't we start with expecting the middle class family making $75k/yr to buy a home that is reasonable to pay off instead of stretching themselves to a breaking point so they can have a 2,500sqft house? Or why don't we start by expecting a family of four to not take a vacation overseas every year while racking up credit card debt?
Do you always start with the most extreme cases, or are you capable of having a conversation like an adult?
Why should I start with that when I can start with the people who are supposed to be the professionals? Are you capable of understanding that in every other profession it is the person who is paid for their service that is supposed to be the expert? Will I be expected to drive the bus when I buy a ticket?
The median expected salary for a typical Bus Driver in the United States is $19,122. This basic market pricing report was prepared using our Certified Compensation Professionals' analysis of survey data collected from thousands of HR departments at employers of all sizes, industries and geographies.
So basically one of the highest paid professions in country is the one field that expects their customer to be the expert.
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