State of the Economy

[Flying Scotsman]

Interesting thread, my father tought me you make your own way in life and do not depend on others to help you out in a cash crunch problem. The world has gone to pot and Greece and other European countries are in dire trouble. Our goverments are all surviving on borrowed money....my dad would not be happy if he was alive today.

Douggie

[T.S.Davis]

and corporations are taxed at the same ratio of income to taxation.

http://www.bea.gov/newsreleases/regi...ewsrelease.htm

Inidividuals pay a higher "ratio" the more they make. They also spend a lot of money. Not just buying yachts. Usually the cost of running some business. Paying a diiferent rate never made any sense to me. Work hard, put in 60 hours a week+, hire a bunch of people maybe, put food on their tables too. Let's not forget all the taxes those employees pay. Those taxes don't get paid if rich guy doesn't pay them to perform some task. So go like mad, live a stress filled life, and die young. Be sure to make lots of money though.......so you can send even more in to the gov't. The rich guy doesn't cost the gov't more money. He makes money for the gov't by putting people to work. For that effort they want him to give a higher percentage of the rewards to "others"? Really Inspiring.

If "government" were a product you would buy at a store, when you asked the clerk how much and he said "how much you got?" you would walk right back out the door. Now if you were a corporation and you asked "how much to do business in the US?" and the answer is "how much you got?".........where do you suppose you're going to set up shop? Probably any where else.

Corporations write off everything. That's how they get around taxes. Same thing with the really rich. They're trying to find a way to avoid being punished for working hard and putting people to work. They're portrayed as corporate scum for it but honestly if I had to give 39.6% of my income to "others" I would likely be looking for deductions to my taxable income.

I liked Forbes flat rate idea. Only I want ZERO deductions for individuals or corporations. Everybody pays the same percentage. Something sane.

[Steven Vaccaro]

Inidividuals pay a higher "ratio" the more they make. They also spend a lot of money. Not just buying yachts. Usually the cost of running some business. Paying a diiferent rate never made any sense to me. Work hard, put in 60 hours a week+, hire a bunch of people maybe, put food on their tables too. Let's not forget all the taxes those employees pay. Those taxes don't get paid if rich guy doesn't pay them to perform some task. So go like mad, live a stress filled life, and die young. Be sure t make lots of money though.......so you can send even more in to the gov't. The rich guy doesn't cost the gov't more money. He makes money for the gov't by putting people to work. For that effort they want him to give a higher percentage of the rewards to "others"? Really Inspiring.If "government" were a product you would buy at a store, when you asked the clerk how much and he said "how much you got?" you would walk right back out the door. Now if you were a corporation and you asked "how much to do business in the US?" and the answer is "how much you got?".........where do you suppose you're going to set up shop? Probably any where else. Corporations write off everything. That's how they get around taxes. Same thing with the really rich. They're trying to find a way to avoid being punished for working hard and putting people to work. They're portrayed as corporate scum for it but honestly if I had to give 39.6% of my income to "others" I would likely be looking for deductions to my taxable income.I liked Forbes flat rate idea. Only I want ZERO deductions for individuals or corporations. Everybody pays the same percentage. Something sane.

well said. I can say I know quite a few of these people Obama calls "rich". With basic single family homes costing $300k around here and houses in good towns costing $600k, $250k gets eaten up pretty quick. Especially when you are paying the state and Feds take $90k right off the top. Then pay the town another 5-10k in real estate taxes. Most of these families have both parents working. The fall is near.

[Peregrine]

We are living in a time of the lowest interest rates in nearly half a century, real estate prices have depressed more rapidly than at any time since WW 2. Foreclosures are at an all time high. Obama The Destroyer is well on his way to accomplishing his goal of destroying the U.S. economy and strapping us with more debt than the next 5 generations could ever pay.

If the interest rates were to climb to 6% or 7% as they very well should, our government would need to use 65%+ of its TOTAL income just to service its debt responsibilities. Leaving a whopping 20-some percent for everything else.

The government funds more lazy, do nothing, breed more children so they get more money losers than EVER. We now pay more in welfare then it used to cost to run the whole government!! So somebody explain to me why people on welfare can't be put to work to earn that money? Cleaning up our country, mowing public land, cleaning public buildings?

There is more Medicare / Medicaid fraud every year than the budget of some states! When we catch these thieves we can't get the money back they stole why?

Our government spent 900 Million on a stealth ship 5 years ago, now decided they don't need it, so they are scrapping it!! They spend nearly 1 BILLION per copy for aircraft that we need like we need a second *&^hole!!

When will it stop? Not until the Uber rich have stolen everything you own! Look to history, how many examples of deficit spending leading to hyper-inflation do we need before we learn? All I can say is, you might want to have some food and water socked away soon.

[Steven Vaccaro]

The government funds more lazy, do nothing, breed more children so they get more money losers than EVER. We now pay more in welfare then it used to cost to run the whole government!! So somebody explain to me why people on welfare can't be put to work to earn that money? Cleaning up our country, mowing public land, cleaning public buildings?

I've been asking myself this for years.

[drwayne]

We are living in a time of the lowest interest rates in nearly half a century, real estate prices have depressed more rapidly than at any time since WW 2. Foreclosures are at an all time high. Obama The Destroyer is well on his way to accomplishing his goal of destroying the U.S. economy and strapping us with more debt than the next 5 generations could ever pay.
.

Osama bin laden ... he traumatized America.
Obama's sin laden ...he traumatizes America
how ironic ....

[sundog]

DrWayne, don't you live in Austrailia? Why are you dissing my President? - because it's the popular thing to do? We have our problems, but we'll come up with solutions. And they won't include you. Steven, you might interject here, this may get ugly.

[drwayne]

DrWayne, don't you live in Austrailia? Why are you dissing my President? - because it's the popular thing to do? We have our problems, but we'll come up with solutions. And they won't include you. Steven, you might interject here, this may get ugly.

@Sundog, Im 45+, have logged 32 yrs living on/off in Au.

Correctly so, Americans generally take great pride contributing assistance to other countries with 'issues' , offering financial guidance, medical aid, education, diplomatic restructuring, and sometimes military support against common foes.
With astounding clarity the world now sees this great America crashing with issues, yet she closes her doors against countries of good standing who offer support and considered opinion.

Our global push for America to care for her own is ridiculed by your popular elected minority as 'financially irresponsible'..

Go figure.

Censoring the truth is a political thing, mate.

Wayne

Enjoy your thread, ppls !
Im going back to work.

[Phaleronic]

DrWayne, don't you live in Austrailia? Why are you dissing my President? - because it's the popular thing to do? We have our problems, but we'll come up with solutions. And they won't include you. Steven, you might interject here, this may get ugly.

I'm not keen on blaming one president or one party, but if it comes down to it I will blame both bushies and the hypocrisy of the republican party. "Recall the situation in 2003. The Bush administration was already projecting the largest deficit in American history--$475 billion in fiscal year 2004, according to the July 2003 mid-session budget review. But a big election was coming up that Bush and his party were desperately fearful of losing. So they decided to win it by buying the votes of America's seniors by giving them an expensive new program to pay for their prescription drugs. Recall, too, that Medicare was already broke in every meaningful sense of the term. According to the 2003 Medicare trustees report, spending for Medicare was projected to rise much more rapidly than the payroll tax as the baby boomers retired. Consequently, the rational thing for Congress to do would have been to find ways of cutting its costs. Instead, Republicans voted to vastly increase them--and the federal deficit--by $395 billion between 2004 and 2013."

If you read any economic journals you would understand that many of them believe that the stimulus package wasn't BIG enough, and that the only way to pull out of this economic sinkhole is to inject capital AND raise taxes, but this is incapable of happening with a republican party as a majority in the house (they refuse to raise taxes at all-especially on the wealthy).

[ron1950]

obama says the millioneers and billioneers must pay more taxes......exceopt his plan starts at anyone makeing 200k a year....as soon as he learn a millioneer makes 1,000,000 dollars and not 200.000 dollars we may be better off......i dont care who is in charge why dont they just stop spending on any new porjects and go home for a year.......

[Phaleronic]

It's a mess.

Of the $1.1 trillion in deficit savings that Obama is projecting over the next 10 years, two-thirds would come from spending cuts including $400 billion in savings from a five-year freeze on domestic programs that account for one-tenth of the budget. The other one-third of deficit savings would come from tax increases such as limiting the tax deductions taken by high income taxpayers, a proposal that Obama put forward last year only to have it rejected by Congress. Obama also proposes raising taxes on energy companies.
The president's projected $1.65 trillion deficit for the current year would be the highest dollar amount ever, surpassing the $1.41 trillion deficit hit in 2009. It would also represent 10.8 percent of the total economy, the highest level since the deficit stood at 21.5 percent of gross domestic product in 1945, reflecting heavy borrowing to fight World War II.

[ray schrauwen]

Think thtas bad, look at this man!>>>

http://www.youtube.com/watch?v=B8T3QBJvLy0&feature=feedu

[ray schrauwen]

It's a mess.

Yes it is but, I don't buy it that it was you and i the commoner's that caused this mess. I place blame on people like the Rockefeller's etc. that hide their trillions and whoever owns these: http://www.freepress.net/ownership/chart/main

[Phaleronic]

Yes it is but, I don't buy it that it was you and i the commoner's that caused this mess. I place blame on people like the Rockefeller's etc. that hide their trillions and whoever owns these: http://www.freepress.net/ownership/chart/main

I agree %100.

[detox]

Utterly pathetic! The lady we let go couldn't even type up a Letter of Transmittal without screwing up addresses and multiple typos. As a nation, on SO many levels, we are in a real hurt locker...

How did this lady get hired to begin with? Sounds like your hiring department also failed.


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