"Anybody that believes spending will go down with Obama, really should visit his website and learn how he will spend us into prosperity."
Anyone who believes spending will go down with EITHER party should go take a look at the history of spending. It goes up regardless of who is in the White House or who is in control of Congress. The only thing that changes is the other side of the ledger - Republicans cut revenues and borrow to pay for their increased spending (i.e. they are passing the bill on to our kids) while Dems pay for their increased spending with tax revenue.
GIBSON: All right. You have, however, said you would favor an increase in the capital gains tax. As a matter of fact, you said on CNBC, and I quote, "I certainly would not go above what existed under Bill Clinton," which was 28 percent. It's now 15 percent. That's almost a doubling, if you went to 28 percent.
But actually, Bill Clinton, in 1997, signed legislation that dropped the capital gains tax to 20 percent. OBAMA: Right. GIBSON: And George Bush has taken it down to 15 percent. OBAMA: Right. GIBSON: And in each instance, when the rate dropped, revenues from the tax increased; the government took in more money. And in the 1980s, when the tax was increased to 28 percent, the revenues went down.
So why raise it at all, especially given the fact that 100 million people in this country own stock and would be affected? OBAMA: Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness.
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind - To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
"Anybody that believes spending will go down with Obama, really should visit his website and learn how he will spend us into prosperity."
Anyone who believes spending will go down with EITHER party should go take a look at the history of spending. It goes up regardless of who is in the White House or who is in control of Congress. The only thing that changes is the other side of the ledger - Republicans cut revenues and borrow to pay for their increased spending (i.e. they are passing the bill on to our kids) while Dems pay for their increased spending with tax revenue.
Sck,
I do love it when you talk crap. It's so easy to refute.
Look up Blue Dog democrats, or Pay-Go.
That's the 110th congresses (this one, the democrats) promising no new spending without being able to pay for it. That's the promise they got elected on.
See how long it actually lasted
Less than 30 days, when they had to make the first vote and just COULD not fit the increases in because they KNEW they could not just magically raise revenues.
Lemon's only got so much juice dude. Squeeze too hard it stops growing.
How many charts, graphs and facts do you have to have shoved in your face before you finally understand how tax rates and revenue work?
Here's a nice little video, looks like it's going viral by the view count. I wish he had also included Greenspan's comments in here. Everyone with any economic brains called this one in 2004.
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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. John USYacht 27 "Cora Lee"
I wanted to see the unedited version so I've been trying to get into cspan's video library of the above hearing, but it seems that their server is a little busy. Go figure.
I think that the american public is wise to this kind crap and there are politicians who will pay.
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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. John USYacht 27 "Cora Lee"
Amazingly, though the MSM uncovered Todd Palin's 22 year old DUI, they have been unable to find any of this stuff and continue to act as if Fanny and Freddie have no role in the current economic "crisis". (I use crisis reservedly, as the situation is not so dire Congress couldn't take a couple of days off)
They not only allow Obama, with direct financial ties and through his work as a community organizer, to demaogue the issue as being one of Republian malefeansce, they go along with it in their reporting.
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind - To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Thankfully the boneheads of both parties tend to keep each other in check as the founding fathers envisioned...
The divide between rich and poor has grown as good jobs have gone to cheaper workers overseas while the captains of industry have sat on their fannies and rewarded conservative thinking like building ton's of SUV's while the world has changed dramatically. We can get alot of good jobs back if we invest heavily in alternative energy and re-building the countries roads and infrastructure but the incentives have to be from both the private and government sectors. We need some imagination, and bold thinking...there are more than a few good minds already at work on these problems but they need assisitance and not nay-sayers who are still stuck in the old thinking of the 1950's like Bush and Cheney.We have to re-invent this country instead of continuing to sit on the long dead laurels of the past 50 years which bloomed with the end of WWII and its massive re-tooling/spending programs and the back to work programs of the FDR years. They continued to bloom up until a few years ago as our economy was able to exploit the almost bronze-age cheap economies that inhabitated the rest of the world while ours evolved into a space age one.Those blooms are now dead and had been shriveling for awhile frankly..It's time to propagate a whole bunch of new and fresh root stock....why not new technology?...think alternative energy and efficient automobile and housing/commercial structure design...to hell with the oil dinosaurs and the small-minded, status quo plutocrats. Cant' they all go retire with their yachts and cheesy-named Italian restaurants in some fancy planned gated community in Nicaruagua where there's no income tax?
Last edited by souljour2000; 09-30-2008 at 05:19 PM.
Reason: typo
Here's a nice excerpt from the OFHEO's report. The payout table didn't copy and paste very well, but Obama's buddies Johnson and Raines are at the top.
Quote:
Fannie Mae adopted EPS thresholds for annual bonuses in 1995 partly to bring that short-term, performance-based compensation measure into conformity with their long-term compensation plan, which was already EPS-based.24
For the year-ended 1998, the size of the annual bonus payout pool was linked to specific EPS targets, as follows: 25
Earnings Per Share (EPS) Range for 1998 AIP Corporate Goals
$3.13 Minimum Payout
$3.18 Target Payout
$3.23 Maximum Payout
For Fannie Mae to pay out the maximum amount in AIP awards in 1998 (approximately $27.1 million), the Earnings Per Share would have to be $3.23. If EPS was below the $3.13 minimum payout threshold, no AIP payout would occur. Remarkably, the 1998 EPS number turned out to be $3.2309, a result that meant that Fannie Mae met the EPS maximum payout goal right down to the penny.
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