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Tell me what economic policies took place from 2002-2006 which was to blame for the economic disaster in 2007?
Here's a nice little cartoon. Aside from failing to distinguish between subprime lending and abuse of subprime credit markets, it does a pretty good job of laying out how this mess built up and then was allowed to bowl us over...
Here's a nice little cartoon. Aside from failing to distinguish between subprime lending and abuse of subprime credit markets, it does a pretty good job of laying out how this mess built up abd was allowed to bowl us over...
The video ignores
1) Funds were able to mix FDIC insured funds with non-FDIC insured funds to invest. This took place well before Bush
2) The liquidation crisis was caused by excessive overnight borrowing, which was a policy which has existed, well before Bush
3) The mortgage backed securities wouldnt have had AAA credit if it wasnt backed by the federal government. Again, a policy which took place well before Bush.
4) Leverage existed WELL before Bush, and still continues today.
I asked you what policies were created by BUSH, during the 2002-2006, the period you claimed caused the collapse. Your response, a cartoon..
btw, 5:21 into the "cartoon", saying money goes into the "safe" box first as mortgages are paid off. Complete fabrication. Money goes into the box where it was taken out of.. Even your cartoons are wrong..
5:53 into the video, claims that bad credit mortgages were unrated, and mid credit ratings were assiged BBB. Wrong, they were ALL assigned AAA credit because they had CDS's sold against them as a guarantee..
6:10 into the video says they were able to sell individual mortgages to different investors based upon credit worthyness.. Again, complete fabrication, they ALL had the same credit rating assigned to them.. AAA.. This is the just of the SEC case against GS..
Quote:
Originally Posted by saganista
Yes. It was pretty much all wrapped up in the word "anemic".
Or more likely that you just picked and chosen individual ones while ignoring others in order to LIE about when individual taxes kick in...
Well, the tanning tax kicks in this July. I know a lot of people have been living in dread of that.
Quote:
Originally Posted by pghquest
So they are imaginary tax increases? btw, the budgets go one year ahead of time, and you know this..
No, they're real taxes that don't happen NOW, and I was able to take advantage of the fact that the dates the taxes go into effect are in the legislation.
Quote:
Originally Posted by pghquest
Wrong again. Reagan went from a 70% tax rate to 50% maximum tax rate.. Individuals earning $85,600 seen their rates drop from 59% to 50%... Only in lala land does tax cuts = tax increases.
Ahh, everything is Bushs fault!! Sorry but Obama is NOW in charge.. Its Obamas budgets.. Dont blame Bush for the lack of Obama to take action!!
LOL. It's Bush's tax law. Who do you think wrote it and then rammed it down our throats under reconciliation? Why should Obama be responsible for 2011 tax increases that Bush wrote into law years ago?
1981: TAX CUT
1982: TAX INCREASE LIE - He cut maximum tax rates from 70% to 50%
1983: TAX INCREASE LIE - He cut tax rate for those earning $85,600 from 50% to 48% while maintaining the status quo for those earning $109,400 or more.
1984: TAX INCREASE LIE - He cut taxes again for those earning $85,600 from 48% to 45%, cut taxes for those earning $109,400 from 50% to 48%, and maintained the status quo for those earning $162,400 or more.
1985: TAX INCREASE LIE - Those earning $85,600 had their taxes cut from 45% to 42%, and those cut the income from $162,400 from 50%, to 49%
1986: TAX INCREASE LIE - Those earning $169,020 seen their taxes drop again from 50% to 49% and so on down the line..
1987: TAX INCREASE LIE - Those earning anything over $49,420 had their taxes cut from 38% to 35%, and everyone over $90K a year income, had their taxes dropped again from 49% to 38.5%..
1988: NOTHING NEW LIE - hell you couldnt even get this one right. Individuals from $90K had their taxes drop from 38.5% to 33%, and everyone over $149,250 had their taxes drop to 28%
If you are going to lie about something, cant it be atleast something not so easily provable wrong? http://www.taxfoundation.org/files/fed_individual_rate_history-20091231.pdf (broken link)
Quote:
Originally Posted by saganista
LOL. It's Bush's tax law. Who do you think wrote it and then rammed it down our throats under reconciliation? Why should Obama be responsible for 2011 tax increases that Bush wrote into law years ago?
Are you this dishonest in your personal life as well?
Really, I'm done listening to your bs. You seem to not want to discuss items with facts, and surely dont mind lying about such obvious information. Hell, if you cant get this correct, then what on gods earth should have us believe you have a clue about somethign like "clintons pretend surpluses?
You can now have the last word.. I'm through listening to your lying..
Of course it didn;'t ehlp. Its was sold as a massive infrstruture bill with shovel rady projects that would keep unemployemnt under 8% and was in the end a speail interest bill. If the GM and Chrylsert were not union do you believe they would ahve been saved? ook at the haircut give in the forced bankrupsy terms to other investors csuch as pesion plans and then look at how the UAW was given preferrance over others ahead in a normal bnakrupsy.
No the stimulus didn't work. We still have 9.7% unemployment and millions have given up looking. Just go over the unemployment forum and you will find people who have been receiving benefits for two years and are needing more benefits because they can't find a job. It is very sad.
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