Socialists hate Obama, say stim is a giveaway to the rich

[w¡n9Nµ7 §£@¥€r 123]

From the World Socialist Website:

The capitalist market and Obama’s stimulus plan

...

The overriding principle of Obama's plan is that nothing will be done that impinges on the wealth and prerogatives of America's financial elite. He made this clear in his inaugural address when he hailed the "free market," saying its "power to generate wealth and expand freedom is unmatched." Meanwhile, the new president has dropped any mention of his campaign pledge to rescind Bush's tax cuts for the wealthy.

...

A third of the package will be used to pay for tax cuts, half of which are for big business ... the Senate Finance Committee inserted a provision that would give companies tax relief on forgiven debt, a measure for which the US Chamber of Commerce and casino giant Harrah's Entertainment lobbied hard.

...

Less than a third of the proposal—including just $30 billion for roads and $10 billion for transit and rail—will be used for infrastructure repair, under conditions in which the American Society of Civil Engineers estimates that it would cost at least $1.6 trillion to bring the country's crumbling bridges, roads and schools back to "good condition." Robert Yaro, the president of the Regional Plan Association, which has guided civic projects in the New York metropolitan area since 1929, told the New York Times, the infrastructure proposal was a "drop in the bucket."

...

It is striking that the stimulus plan includes no measures to rebuild the shrunken industrial base of the country. This is one more indication of the degree to which it is tailored to the needs of the financial aristocracy. The financial elite has no interest in rebuilding basic industry because it can amass far higher profits from financial speculation than it can from investment in basic production.

...

What then are the motives behind the stimulus package?

The first is to stave off a complete collapse of consumer spending and avert a deflationary spiral that would lead to a full-scale depression.

The second is to provide at least the semblance of relief for those facing economic distress in order to contain growing social discontent over a disaster precipitated by the recklessness and avarice of the super-rich.

...

The stimulus package pales in comparison to $8 trillion already handed out in loans, grants and financial guarantees to the banks.

...

To assert their own interests working people will have to break with the Democrats and Republicans and mobilize their strength against the Obama administration. Only the creation of a workers' government and the establishment of real democratic rule by the majority can break the power of the financial aristocracy and make possible the reorganization of economic life to meet the needs of society as a whole.

http://www.wsws.org/articles/2009/jan2009/pers-j27.shtml

[one...two...tree 2,762]

It's not so much that the Fed is trying to reward the banks - we have to keep the flow of credit going.

[I AM NOT THAT GUY 5,715]

To assert their own interests working people will have to break with the Democrats and Republicans and mobilize their strength against the Obama administration. Only the creation of a workers' government and the establishment of real democratic rule by the majority can break the power of the financial aristocracy and make possible the reorganization of economic life to meet the needs of society as a whole.

Does this mean a riot?

Damn Commies! What happenned to you yesterday, A.J.?

Edited February 8, 2009 by Mister_Bill

[one...two...tree 2,762]

To assert their own interests working people will have to break with the Democrats and Republicans and mobilize their strength against the Obama administration. Only the creation of a workers' government and the establishment of real democratic rule by the majority can break the power of the financial aristocracy and make possible the reorganization of economic life to meet the needs of society as a whole.

Does this mean a riot?

Damn Commies! What happenned to you yesterday, A.J.?

He was at his monthly Socialist meeting.

[Jasman0717 9]

Lots of Obama hate posts lately

[w¡n9Nµ7 §£@¥€r 123]

Lots of Obama hate posts lately

He is the President.

[one...two...tree 2,762]

Lots of Obama hate posts lately

He is the President.

For a whole 18 days even.

[I AM NOT THAT GUY 5,715]

Lots of Obama hate posts lately

He is the President.

For a whole 18 days even.

It was his first quiz. His first report card comes in 82 days.

[Heracles 417]

A third of the package will be used to pay for tax cuts, half of which are for big business ... the Senate Finance Committee inserted a provision that would give companies tax relief on forgiven debt, a measure for which the US Chamber of Commerce and casino giant Harrah's Entertainment lobbied hard.

...

Less than a third of the proposal—including just $30 billion for roads and $10 billion for transit and rail—will be used for infrastructure repair, under conditions in which the American Society of Civil Engineers estimates that it would cost at least $1.6 trillion to bring the country's crumbling bridges, roads and schools back to "good condition." Robert Yaro, the president of the Regional Plan Association, which has guided civic projects in the New York metropolitan area since 1929, told the New York Times, the infrastructure proposal was a "drop in the bucket."

...

It is striking that the stimulus plan includes no measures to rebuild the shrunken industrial base of the country. This is one more indication of the degree to which it is tailored to the needs of the financial aristocracy. The financial elite has no interest in rebuilding basic industry because it can amass far higher profits from financial speculation than it can from investment in basic production.

...

What then are the motives behind the stimulus package?

The first is to stave off a complete collapse of consumer spending and avert a deflationary spiral that would lead to a full-scale depression.

The second is to provide at least the semblance of relief for those facing economic distress in order to contain growing social discontent over a disaster precipitated by the recklessness and avarice of the super-rich.

Republicans are starting to piss me off. They are either extremely misinformed or just down right corrupt. In a time of crisis, how the hell does giving businesses tax cuts help? The reason companies cut back in the first place is due to fallen demand. You could cut their tax rate to zero but they will not spend one dollar more unless the demand is there. Simple as that. Next thing they need to get over and out of their head is the Regan years. Different world, different era. What worked nearly 30 years ago will not work now. What also kills me is that Repubs hate socialism, fair enough, but love supporting the Military and at any price or cost. Ironically, the military is the biggest and most socialist organization of them all. 100% government run and tax payer funded.

The government needs to invest in projects that will generate short, medium and long term growth and value. In a time of crisis, tax cuts alone are not the answer. You need a booster shot to get the economy going again. Government spending on projects are the catalyst required to get the economic cycle going again. Given, this does not mean we start building roads in nobody areas just because they have traffic. We need to build infrastructure in parts of the country that will actually generate growth. We need to build for the long term, like modernizing infrastructure and building high speed rail throughout the country. Build where we want to head.

Lets also not forget the issue such as consuming too much yet not exporting enough which got us into this mess in the first place. what isn't imported anymore. Our trade deficit is simply ridiculous.

Edited February 8, 2009 by Aficionado

[I AM NOT THAT GUY 5,715]

This is the paradox I find in the whole "economic stimulus" arguement. Americans went on a spending spree with easy credit. When that credit was exhausted, they turned to their homes to liquify the equity in their homes to continue the spending spree. Now that real estate market has collasped, that equity is not existent, and Americans still have an even larger personal debt. So, now we are going to borrow even more money, collectively as a nation, to invest in an economy that is already debt laden,..but from who? And what collateral is still left to secure that debt?

I mean, Wide Screen Digital TV's from China are still the hottest item being sold at Walmart!

When are we going to stop with the Bush style bail outs? Where is that "change" I heard about? When do we stop filling the lake and fix the dam?

Edited February 8, 2009 by Mister_Bill

[dalegg 143]

A third of the package will be used to pay for tax cuts, half of which are for big business ... the Senate Finance Committee inserted a provision that would give companies tax relief on forgiven debt, a measure for which the US Chamber of Commerce and casino giant Harrah's Entertainment lobbied hard.

...

Less than a third of the proposal—including just $30 billion for roads and $10 billion for transit and rail—will be used for infrastructure repair, under conditions in which the American Society of Civil Engineers estimates that it would cost at least $1.6 trillion to bring the country's crumbling bridges, roads and schools back to "good condition." Robert Yaro, the president of the Regional Plan Association, which has guided civic projects in the New York metropolitan area since 1929, told the New York Times, the infrastructure proposal was a "drop in the bucket."

...

It is striking that the stimulus plan includes no measures to rebuild the shrunken industrial base of the country. This is one more indication of the degree to which it is tailored to the needs of the financial aristocracy. The financial elite has no interest in rebuilding basic industry because it can amass far higher profits from financial speculation than it can from investment in basic production.

...

What then are the motives behind the stimulus package?

The first is to stave off a complete collapse of consumer spending and avert a deflationary spiral that would lead to a full-scale depression.

The second is to provide at least the semblance of relief for those facing economic distress in order to contain growing social discontent over a disaster precipitated by the recklessness and avarice of the super-rich.

Republicans are starting to piss me off. They are either extremely misinformed or just down right corrupt. In a time of crisis, how the hell does giving businesses tax cuts help? The reason companies cut back in the first place is due to fallen demand. You could cut their tax rate to zero but they will not spend one dollar more unless the demand is there. Simple as that. Next thing they need to get over and out of their head is the Regan years. Different world, different era. What worked nearly 30 years ago will not work now. What also kills me is that Repubs hate socialism, fair enough, but love supporting the Military and at any price or cost. Ironically, the military is the biggest and most socialist organization of them all. 100% government run and tax payer funded.

The government needs to invest in projects that will generate short, medium and long term growth and value. In a time of crisis, tax cuts alone are not the answer. You need a booster shot to get the economy going again. Government spending on projects are the catalyst required to get the economic cycle going again. Given, this does not mean we start building roads in nobody areas just because they have traffic. We need to build infrastructure in parts of the country that will actually generate growth. We need to build for the long term, like modernizing infrastructure and building high speed rail throughout the country. Build where we want to head.

Lets also not forget the issue such as consuming too much yet not exporting enough which got us into this mess in the first place. what isn't imported anymore. Our trade deficit is simply ridiculous.

Military spending is stimulus.

[mawilson 2,133]

This is the paradox I find in the whole "economic stimulus" arguement. Americans went on a spending spree with easy credit. When that credit was exhausted, they turned to their homes to liquify the equity in their homes to continue the spending spree. Now that real estate market has collasped, that equity is not existent, and Americans still have an even larger personal debt. So, now we are going to borrow even more money, collectively as a nation, to invest in an economy that is already debt laden,..but from who? And what collateral is still left to secure that debt?

I mean, Wide Screen Digital TV's from China are still the hottest item being sold at Walmart!

When are we going to stop with the Bush style bail outs? Where is that "change" I heard about? When do we stop filling the lake and fix the dam?

[Heracles 417]

This is the paradox I find in the whole "economic stimulus" arguement. Americans went on a spending spree with easy credit. When that credit was exhausted, they turned to their homes to liquify the equity in their homes to continue the spending spree. Now that real estate market has collasped, that equity is not existent, and Americans still have an even larger personal debt. So, now we are going to borrow even more money, collectively as a nation, to invest in an economy that is already debt laden,..but from who? And what collateral is still left to secure that debt?

I mean, Wide Screen Digital TV's from China are still the hottest item being sold at Walmart!

When are we going to stop with the Bush style bail outs? Where is that "change" I heard about? When do we stop filling the lake and fix the dam?

Good point. The lake is ultimately being filled by other countries which in many cases are not even our friends.

The question is, what happens when the loan sharks decide to collect?

[luckytxn 2,265]

Lets ee if I remember the lie again.

Change!!! No more McSame!!!

Friggin sheep bought it all.

[Ban Hammer 13,678]

Lets ee if I remember the lie again.

Change!!! No more McSame!!!

Friggin sheep bought it all.