Monday, December 6, 2010
Obama Turnaround
WOW is it only me or has anyone else enjoyed seeing how Obama has turned his program around, and the only reason is that he got his clock cleaned in the recent election. Believe me if the Dem's still held the majority in the house his agenda would still be in full force...watch out boys this guy will run the picked fence on you in a heart beat.
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9 comments:
If he can buy off the Republicans with a brief extension of a 5% marginal rate; the joke is on them. Let them have it; It takes all the wind out of their sails.
Why buy your wife a house when all she is complaining about is her car? Buy the car and make her happy. It's a Win-Win.
When she asks for more later, just point at the car.
I think it is interesting that the GOP turned down making the tax cuts permanent on <$250K income and accepted a mere two-year extension for all levels. It shows where their loyalties reside.
Obviously, they plan on making it a 2012 campaign issue. I welcome that fight - especially when we remind the electorate of the first paragraph above.
Finally - I welcome the 35% estate tax - I think it should start at $1mm max, rather than $5mm - $10mm. I expect the House may have something to say about that. I have no problem taxing the dead or their heirs who did not lift a finger for the proceeds.
What right does the government have to tax your estate...you have paid tax's all the way along and they think it is OK to tax you again when you die...give me a fing break
Al -
I favor the living over the dead every time. I also favor people who work for their money - who earn it - over heirs that did nothing to produce said bounty.
The first part of your statement was mistaken. A very large portion of an estate may have avoided or deferred taxes into the future. At death, there must be a reckoning. I suggest that the estate be taxed the capital gains rate assuming all assets were sold on the day of death. There would be no exemptions.
Then - quite separately - I would have an inheritance tax, same rate as ordinary income to be paid by recipients. I would allow an exception on the first $100,000, and thats it.
You would see a huge amount of money find its way to the Treasury. I recommend that it be off budget, used exclusively to retire our debt that the generation of the deceased was responsible for running up. Hows that, AL? Justice? Or just solid fiscal policy...
Hey Eric...how short is your friggen memory...Remember your man standing up and saying how the GOP ran the car in the ditch with the Bush Tax Plan, and how America does not want the car to stay in the ditch and all the rest of the BS this guys tells you that is total BS...now that he has apparently found Jesus all the left is pissed off. And I still stand by my statement of what right does anyone have to take more of your assets when you die...families have to sell business, farms, homes etc to pay estate tax's and that is BS...and if you think we should have more tax's how much additional dollars will you be sending in this year. By the way government only success stories is spending more than they have..that is why we have a 13 trillion dollar problem. They can't even get the right person in the right grave at Arlington National and you think they should run health care
Al -
Obama compromised. He is not reborn. He hates the tax cuts for the rich and he says so. The tax cuts for everyone else were held hostage by the GOP, so Obama conceded the point. Nothing more, nothing less. The left is pissed because they feel that Obama did a poor job of negotiating. I think a fair argument can be made by Obama and the House Democratic caucus.
We have $13T of debt because of Reagan and Bush. Don't try to spread the blame around. It is entirely on your side (or 90%+) - you and those who vote like you.
So, you & I can work hard for our money, risk capital, etc, and pay taxes. But if some Lucky Sperm Club member inherits similar money, it should be tax free? Sacrosanct? How screwed up is that?
I want to reward hard work, thrift and industry, not good fortune or blood lines. Power to the people!
Rich we will never agree on this..stimulus did not work...tarp did not work fannie and fredie lied through there teeth, and we are still bailing them out..took the lid off the box on SS to pay for other social programs..unemployment not working because people will sit on their butts and collect...it is my understanding that around 1/3 of the people on unemployment benefits find a job within 30 days of the benefits stopping...maybe we can work on it a 1/3 at a time. anyway have a Merry Christmas
Al -
We are entitled to our own opinions, not our own FACTS.
TARP (thanks to George W Bush) was a SUCCESS. It helped avoid Great Depression II and it has EARNED $30B for the Treasury. John Boehner (R) literally cried on the House floor appealing for the passage of TARP. Thanks to the House Democrats and some GOP including Boehner, it passed. It would be a different world today if it hadn't.
Before Stimulus Bill (which was 35% tax cuts) economy was dropping 6.5% annually and we were shedding 700,000 +/- jobs per month. After Stimulus Bill the economy is growing as are jobs. And it didn't work? What then do you credit on the turn around? The Jobs Fairy? The Good Witch of GDP? What planet are these complainers from?
With respect to unemployment insurance, you & I probably agree during normal economic times. Not so now. If there are plenty of jobs and Americans are simply too lazy to work, you are right. If people want to work but there simply are not enough jobs right now, you are wrong.
WOW is it only me or has anyone else enjoyed seeing how Obama has turned his program around, and the only reason is that he got his clock cleaned in the recent election. Believe me if the Dem's still held the majority in the house his agenda would still be in full force...watch out boys this guy will run the picked fence on you in a heart beat.
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