opalbeauty: Indy, the money the rich are getting is a freebie. It is not being used as it was intended
The bulk of the tax cuts went to the wealthy, or the very wealthy, people who already had everything developed in investment strategies, with a spread of risk. When these people then received their tax cuts, they didn’t put the money into low-risk investments – they put it into high-risk investments, because it was essentially found money. The government doesn’t actually track hedge funds (the subject of a future post…), but hedge fund industry sources suggest that close to a trillion dollars have gone into hedge funds during the Bush presidency. Moreover, the hedge funds had to find a place to put the money, bets to make. Again, no firm numbers are available, but anecdotally it seems probable that hundreds of billions of that money was used to speculate on energy futures. Hedge funds bet that oil prices would go up, and because there was suddenly more money chasing oil futures, they did go up. This is how bubbles work – too much speculative money chases a given economic activity or output, causing the prices to spike upward.
Oh my god! This Opal Lady makes me feel like Dancing in deed
Back to the subject at hand....HERE IS THE REAL QUESTION!!!
20% of the nations population (The wealthy) are paying 63.5% of the nations federal taxes.
80% of the nations population (The middle and lower income classes) are paying 36.5% of the nations federal taxes.
This seems more than fair to the middle and lower income taxpayer(s) Granted, taxes, finance, etc... are complicated and this article. Perhaps I am missing something.
I do agree with the idea that the wealthy should contribute more but at the same time, I think they are already doing a lot more than a majorty of the nation is. At what point is it enough?
63.5 percent they are paying! At what point is it enough????
If you look at only recent history (1980 - Present) You'll see that unemployment rates have been fairly consistant. Beginning in Jan 1980 the rate was 6.9%. As of May 2008 the rate is 5.2%.
During all this time, regardless of what party was in power or currently is in power, the rates have fluctuated between 4.1% and 7.3%. With the exception of 1982/82 where it went up as high as 11%. Ironically, Bush and Clinton both reached the low 4.1%. Bush's high has been 6.5 % in June 2003 and Clintons was 7.3 in 1994. This by itself only says people are emplyed and doesn't say how much they are making on average. Fortunately, the labor department has facts and figures for that as well. Together, they nullify the claim that lack of job creation and out sourcing are causing unemployment problems in the US.
Creating jobs is however an issue that needs to be addressed. There are lots of possible reasons why this isn't happening or why they are outsourcing jobs to overseas companies. I tend to think the truth is somewhere in the middle of the greed theory and the difficulty brought on by governemnt regulation. I'm sure if we looked at this an agreement could be reached by you and me but I seriously doubt the people in our government will so easily give up their resolve to always be right and to get, keep and/or maintain power. Politics itself is not much more than a business and think how high the unemployment rates would be if those guys and gals didn't have anything to do
Dude, I doubt very seriously that if he were that much of a loose cannon he would have been able to maintian his position all these years. Just as I doubt the republicans who are "in the know" would have allowed him to become a candidate.
opalbeauty: My opinion is the tax cut income was suppose to trickle down and create jobs. Obviously, it hasn't worked, we are in a recession. And the government just can't keep making money we don't have. All this money that is being made for tax cuts and war will have to be paid back.
It's true the government can't keep making money and we are going to have to pay these bills but it still doesn't answer the question. How much is enough?
Maybe we should go to a flat tax. An 18 - 20% VAT on every thing we buy would put things in perspective for all of us and maybe it would make people a little more attentive to what uncle Sam was doing with their money.
Hot_Single_Dude: Fences .....like you know......net....finemesh nets around each one or around the whole area so birda can not get throught. Beside there is a suytem used in some aorports sending ultra sound so birds gettign scared and not coming too near the airplanes. that kind of fences I mean!
If the will and the investment is there, there will be environmental friendly storage systems aviable as well! In Scandinavia we solve it by getting enrgy from others when we have too little and giving it to others when we have too much and the system works very good as a matter of fact.
Indyfella: I scoured the last 4 pages...I didn't see that quote anywhere? Please direct me?
Wish4 knows what I am talking about Indy.....it was when she brought that manuplated quote from Obama after attacks of 9/11! Maybe it is in the last number 11 thread.....yes I guesss it is there. My oponion about Wish4 meassage was that she thought Obamas concern about Muslims in America was unamercian or some thing, and we had a conversation about that one! But its past....
Sparky55: It's true the government can't keep making money and we are going to have to pay these bills but it still doesn't answer the question. How much is enough?
Maybe we should go to a flat tax. An 18 - 20% VAT on every thing we buy would put things in perspective for all of us and maybe it would make people a little more attentive to what uncle Sam was doing with their money.
That's the BIGGEST question. They keep taking and taking and where is it going?
Hot_Single_Dude: Wish4 knows what I am talking about Indy.....it was when she brought that manuplated quote from Obama after attacks of 9/11! Maybe it is in the last number 11 thread.....yes I guesss it is there. My oponion about Wish4 meassage was that she thought Obamas concern about Muslims in America was unamercian or some thing, and we had a conversation about that one! But its past....
Dude, as I said, I was only quoting thepost above me. And according to Opal, the only misquote was the inclusion of the word "Black". And you know what? Even without that word the damn quote scares me. this is America, buddy, and we have a big problem with religious extremists right now. No., I don't want a president who will side with the Muslims at the moment. I want him to side with AMERICA at al costs.
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Dude, read the posts first.