Obama Taxes

[pjsnyc]

...I view inflation as just another form of tax, and my understanding is that it is closely related to a combination of formal tax rates and government spending. It probably isn't technically a tax by definition, but I lump everything that takes away the spending power of my paycheck as a tax...

Let's not forget inflation is also a result of credit cards and bank loans (basically creating money out of nothing with the promise of paying it back with interest). Aaaand we all know whats going on in the banking industry right now.

[americanfighter]

I know we need to reduce taxes right now not increase.


According to John Keynes who wrote the guide book for macroeconomics when in a recession we need to increase the money supply not decrease it. Thats Why we need more tax cuts.

[Q.Q.Quillume]

I know we need to reduce taxes right now not increase.

According to "W" we are not in a recession.

"...a reporter asked President Bush “how deep and how long will the economic recession be in the United States?” “First of all, we’re not in a recession,” Bush replied,..."

[Cizzle]

According to "W" we are not in a recession.

Maybe you should learn what a recession is. We are not in a recession right now. Kinda sad people just throw words around, and have no idea what they're talking about.

[blackxpress]

I am so sick of all this anti-Obama hysteria. Most of it is fueled by propaganda from the right. Obama is not a socialist and, even if he was, he could not single-handedly turn America into Canada. The president is not a dictator. As far as I can ascertain, Obama's tax plan in its current form would give us tax rates that would still be lower than they were under Ronald Reagan, and he was certainly no socialist. I still remember how all the Chicken Littles on the right told us the same thing about Clinton. A Clinton presidency was going to be the end of America as we know it. He was a socialist and a commie sympathizer who protested his country in the former Soviet Union. Remember all that noise? I don't know about you guys but I'd trade the current economy for the Clinton economy in a New York minute. That so-called conservative president we have now has expanded the role and scope of gov't far beyond anything Clinton ever dreamed of. And, while it's true that W cut my taxes, I did a whole lot better under Clinton. The cost of living was much lower.

And one more thing. No one has mentioned the national debt. Bush has done exactly what the Democrats predicted when they opposed his tax cuts in the first place. He presided over the greatest wave of deficit spending in U.S. history. If you cut taxes while at the same time increasing spending, you have no choice but to borrow the money. America is now the greatest debtor nation in the world. The national debt has more than doubled under President W. It's now over 11 trillion dollars and growing. If somebody doesn't balance the budget real soon, taxes will be the least of our worries.

[americanfighter]

I am not going on any propaganda all I know is that in the situation our economy is in now we don't need that tax plan as I have said before we need to increase the money supply not decrease it. Look every president has a time where they would be best and obama may be good when are economy is in a good situation where his taxes would keep us from burning out.

[Chilli Dipper]

I am not going on any propaganda all I know is that in the situation our economy is in now we don't need that tax plan as I have said before we need to increase the money supply not decrease it. Look every president has a time where they would be best and obama may be good when are economy is in a good situation where his taxes would keep us from burning out.

Your original post makes it very clear that you are going on a propaganda trip, throwing out loaded, incendiary labels that you obviously don't have a good grasp for.

[erwintrace08]

Maybe you should learn what a recession is. We are not in a recession right now. Kinda sad people just throw words around, and have no idea what they're talking about.

I don't even understand how we can be in the "Worst time since the Great Depression" (per analysts on CNBC) if we are not in a recession.

My take, not towards anyone's comments here (just in general), is that the banks have never offered so many risky loans before. 8/10 deals out there were stated income (low down payment, state your income/assets). This sparked the biggest housing boom ever. You take that away (most likely forever) due to 1) the FED now over regulating 2) Banks never again getting burned like this or sticking their necks out = no spark in the housing market for a very, very, very long time. People cannot refinance because they do not qualify for loans (which they shouldn't have in the first place) = people aren't spending = businesses and manufacturing/service companies are downsizing = GDP declines & Oil and commodities get more expensive = Dollar weakens = Trade Deficit increases = Recession. I'm definitely an optimist, but a realist at the same time. The biggest cost out of every American's pocket per month is into their mortgage, credit card bills, golf clubs and green fees. All on credit. Secondary market investors pulling out = banks getting stuck with bad loans = no money to lend. Everything is linked. I just don't see how the market can recover quickly. Historically, experts say a recession lasts 10-18 months. At the same time, in the 60s, 70s, 80s, 90s, financial analysts never compared those times to the Great Depression which they are doing right now. I pray we can find a way out of this mess fast, but I think it will take a long time as you can see in the market. Dow crashes 777, goes back up 900+, goes back down again... Just shows how it's not going to be that easy. The next president won't be able to make a change in the economy that fast, but will hopefully put the wheels on it to get it rolling. Just my humble opinion and my 8 cents... e