How Obama's tax assault will wreck the economy

Discussion in 'Politics' started by B_starinvestor, Jul 8, 2010.

  1. B_starinvestor

    B_starinvestor New Member

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    On Jan. 1, 2011, federal, state and local taxes are scheduled to rise sharply.

    W. Bush's tax cuts expire on that date, meaning the highest federal personal income tax rate will go from 35% to 39.6%, capital gains will rise from 15% to 20%, highest dividend rate will go from 15% to 39.6% and the estate tax will go from zero to 55%.

    Several other changes will occur as a result of the tax cut expiration.

    Payroll taxes will be increased, AMT taxes increase and even penetrating middle America. Tax on Cadillac Health Care plans.

    And oh by the way, ALL of the stimulus money will have been spent by the end of 2010.

    The result will be that spending will dry up like a prune, tax reciepts will actually fall despite all the tax hikes, simply because personal income will be way down -- and as the economy is coming to a halt, we have absolutely no more weapons to stimulate the economy. No more stimulus money. Cannot cut interest rates any more.

    Prepare for horrendous increases in unemployment, a double-dip recession which will be worse than the initial in 2008, and national debt that is skyrocketing by the minute.

    Attaboy, Obama.

    Look what happened to auto sales after the cash for clunkers program ended. Look what happened to home sales after the homebuyer tax credit expired.

    Doesn't take a rocket scientist to see what will happen when these taxes increase dramatically on Jan. 1.

    If you tax people to work, and pay people not to work, you are doomed.
     
  2. B_New End

    B_New End New Member

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    NAFTA, the bailouts and useless wars wrecked the economy. Everything else is just death spasms.

    And plus, who cares. Fuck America.
     
  3. bananaclubcock

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    Dude (starinvestor, that is), that is quite the narrative. How familiar are you with the counterfactuals to your narrative?

    I just have to ask since I work with investments...
     
  4. TomCat84

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    starinvestor- you want the wars, but you don't want to have to pay for them?
     
  5. SilverTrain

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    OR

    You want the wars, and then you want to cast the issue of the payment therefor, as a "Democrat Problem".

    Sure we had an unfunded war, but don't dare raise taxes! The economy is in the dumper! Don't raise taxes! The economy is in the dumper! Don't raise taxes!...............ad infinitum, until election day.
     
  6. ColoradoGuy

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    What's the deal, starinvestor? You refuse to be debate a subject, so once you're countered, you just go off and start another inappropriately titled (but remarkably similar) thread? Where is your sense of decency and self-respect? If you can't defend your arguments, stop making them.

    I'm afraid you've gone the way of the recently departed Trinity and I will now have to urge people "DTTB".



    *Don't Take the Bait is an effective and time-honored way of addressing trolls for those readers who are unfamiliar with it.
     
  7. B_Marius567

    B_Marius567 New Member

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    He needs money To give to the poor :(
     
  8. B_New End

    B_New End New Member

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    LoL!
     
  9. ColoradoGuy

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    I think a lot of people care. I think you care, otherwise, why would you bother to post anything here at all? Your inexcusable and juvenile condemnation of America is, of course, protected speech... but it betrays your own self-loathing. Get help -- since you live in a great country like America, you can easily find counseling specialists in your Yellow Pages or online. Good luck with that.
     
  10. B_starinvestor

    B_starinvestor New Member

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    What counterfactuals?

    The taxes are going up. Fact.

    Stimulus money is gone 12/31/10. Fact.

    Or are you suggesting that increased taxes won't impact spending and income?
     
  11. B_starinvestor

    B_starinvestor New Member

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    No, i don't want wars. Sometimes they are unavoidable. We had an absolute consensus on going to war with Afghanistan.

    You don't pay for them by spending trillions and trillions more over and above the war on entitlements and (non)stimulus.
     
  12. B_starinvestor

    B_starinvestor New Member

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    Ah, the thread I started about Obama and America was hijacked and turned into a thread about Bush. I'm not here to debate the same shit that was thrashed around here 3 years ago.
     
  13. B_New End

    B_New End New Member

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    I just post to let people like Starinvestor know why his country is going to collapse.

    It's because for too long we've been dragged by kncukledraggers like him screeaming about "saving" America... but the only America we end up saving is one that give money to banksters and corporations, and kills as many brown people around the world as possible. They always want us to stand united... for their imperialist bloodthirsty version.

    That ain't my America, that's starinvestor's America. That's Obama and Bush and Clinton's America. That's stupid middle class TV brain America.

    And every time somebody wants to remind me how nifty it is to live in America, I can only say, I agree, living in America is great... because we are the ones holding the gun... the rest of the world has to live on the other end of the barrel.
     
  14. TomCat84

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    Trillions on entitlements? No, that is NOT a fact. Your kind didn't want to pay for the wars when they started- the Republican Congress refused to lift the Bush tax cuts, or institute a payroll tax surcharge. As for the stimulus, most economists agree it wasnt nearly enough in the first place.
     
  15. B_New End

    B_New End New Member

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    yeah, cuz countries rise and fall based only on what happened the month before.

    History!? Bailouts? wars those are never the ends of nations!!

    :rolleyes:
    You were a cheerleader for the bailouts. you are all for big bank entitlements, but god forbid anything else, eh? You are a real man of the people. Give trillions to the bankster crooks on wallstreet... but god forbid the little guy get anything... that would just ruin your elitist version of America.

    Just.. go back to your little country club and try to peddle your bullshit there... where the other elitists can agree with your inane logic.
     
    #15 B_New End, Jul 8, 2010
    Last edited: Jul 8, 2010
  16. bananaclubcock

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    Taxes are going up a little. To get all dramatic like you have denies the history of US tax rates.

    Yes, the 2009 Stimulus Package runs out soon. Noting the political climate, the Democrats won't likely try to pass another and the Republicans would probably fight tooth and nail against it anyway. Whatever happens next fiscally is likey TBD by the next Congress.

    One thought you might want to entertain is that the WH/Congress is putting the screws on Helicopter Ben and his gang. Maybe Helicopter Ben will live up to his name? Tricks like that might piss some people off, but they might just bail most others out.

    And just because I am nice: always make a list of counterfactuals when trying to forecast complex economic/financial phenomenon. You'll frequently save your ass, especially from my HF buddies. I actually have a lot sympathy for your view that things are unfolding very badly. But I think you are a little too caught up in the Obama hatred to see that the serious stumbling blocks to a healthier economy might just lie elsewhere.
     
  17. mikeyh9in

    mikeyh9in Active Member

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    StarInvestor's America is dieing, and I say good.

    StarInvestor's America, where corporations are valued higher and have more rights than citizens.

    StarInvestor's America, where the weathy pay significantly less in taxes than the working poor.

    StarInvestor's America, where healthcare is given based on your ability to pay.

    StarInvestor's America, where if you are brown, you can be legally stopped and required to prove citizenship.

    StarInvestor's America, where LGBT citizens are less equal than others.

    StarInvestor... your America is dieing, but what is great about America is its ability to destroy and rebuild itself.

    I'm sure somewhere there will survive StarInvestor's America -- probably somewhere in Arizona, or the deep South... it will be like an Amusement Park where only white people can get in.

     
  18. B_New End

    B_New End New Member

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    Uh oh.. be prepared for a bunch of people telling you how the rich pay a higher rate in federal taxes than the poor.

    (but ignoring every other of the hundreds of nickle and dime tax that drains middle and lower class discretionary and sometimes even survival income, not to mention that the rich just pass the taxes on to their consumers anyways)

    oh.. and of course.. the rich can afford accountants to spend weeks finding every single loophole and deduction.

    Yes... America... the land of nightmares for the rich... according to starivestor.

    Please, everyone! We must stop the exploitation and subjugation of the rich in America! If you care for justice, you will rise up to defend them! How much longer can the rich stand all the oppression they get in America!? Who has ever suffered more than the rich?
     
  19. sargon20

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    Another drive-by shitting just occurred :eek: The huge loss of Trinity has left only StarI and FaceQ to push the lies and propaganda. They will now have to pick up the slack. Expect daily bouts of diarrhea :Flush:
     
  20. HazelGod

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    Seriously.

    "Obama's tax assault...?" :rolleyes:

    Why are we still seeing this sort of shit?
     
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