10 Disturbing Facts About Our Economy

[james&olya 1,121]

because it's a smokescreen by some to mask what the real problem is in this country - out of control spending - and the rich are scapegoats for a gullible public.

And where is all that excess spending by the Obama administration? The big numbers there have to do with the wars that were started by Bush and paid for with the credit card from the Chinese! How did Bush plan to pay for it? He gave the rich tax cuts! In WWII the taxes on the rich went up so that they would contribute to their ability. What is really going on is that the right has always had its sights on social programs like social security and medicare. Their approach for a number of years has been a 'starve the beast' philosophy and they have accordingly used every excuse in the book to sell tax cuts to an all too willing and gullible general population. Now we are nearing that point of the government starving and the last thing they want is for the population to wake up and realize the fraud being perpetrated.

No, the rich are not scapegoats. They will still have far more wealth than they can use even if tax rates go back to Clinton or Reagan era levels!

[james&olya 1,121]

when revenue decreases, so does spending. at least, that's what prudent people do.

When hard times hit it is sometimes wise to take out a loan to invest in the future. You don't sacrifice your income generating potential when you decide where to cut. The american people are the greatest resource for this enterprise called the USA. Education, job training, investing in the technologies of the future is how you grow your way out of recession. The last thing you want is to take what resources you have and give them to those who will stash them away for their own personal future use! The prudent thing now is to raise taxes on those that can most easily sustain those increases.

[I AM NOT THAT GUY 5,715]

Prudent people tend to do both really, attempt to raise revenue while cutting spending. To be honest I think I almost want the Fiscal Cliff to occur...its better than any compromise we'll get.

I agree. We need to drastically cut both entitlement and defense spending. This would be but a small down payment on what needs to be done.

[Ban Hammer 13,340]

And where is all that excess spending by the Obama administration? The big numbers there have to do with the wars that were started by Bush and paid for with the credit card from the Chinese! How did Bush plan to pay for it? He gave the rich tax cuts! In WWII the taxes on the rich went up so that they would contribute to their ability. What is really going on is that the right has always had its sights on social programs like social security and medicare. Their approach for a number of years has been a 'starve the beast' philosophy and they have accordingly used every excuse in the book to sell tax cuts to an all too willing and gullible general population. Now we are nearing that point of the government starving and the last thing they want is for the population to wake up and realize the fraud being perpetrated.

No, the rich are not scapegoats. They will still have far more wealth than they can use even if tax rates go back to Clinton or Reagan era levels!

it's not just obama that's doing the excess. it's become sop amongst politicians - yes, even bush. but bush isn't the only one guilty of this. need i point out that those wars are still ongoing? and we even went to libya?

yeah, there's a lot of fraud going on - we need to mind our own business and stop being the world police.

[Ban Hammer 13,340]

The prudent thing now is to raise taxes on those that can most easily sustain those increases.

why not make it "fair" and raise them on everyone?

[I AM NOT THAT GUY 5,715]

When the economy sucks, the government needs to reduce spending. Keynesian economics is foolhardy, as has been demonstrated over and over again.

[james&olya 1,121]

why not make it "fair" and raise them on everyone?

Because reducing income for those already struggling is cruel!

Because reducing spendable income for the lower and middle class worsens a recession!

Because many of the middle class are actually already paying a higher percent of their income in taxes than are the rich!

Edited November 30, 2012 by james&olya

[Ban Hammer 13,340]

Because reducing income for those already struggling is cruel!

Because reducing spendable income for the lower and middle class worsens a recession!

Because many of the middle class are actually already paying a higher percent of their income in taxes than are the rich!

one can raise taxes across the board - nothing says it has to be at the same percentage rate across the board.

i see "fair" only works when it's applied to the rich exclusively though.

[james&olya 1,121]

one can raise taxes across the board - nothing says it has to be at the same percentage rate across the board.

i see "fair" only works when it's applied to the rich exclusively though.

Very little in life is "fair"!

[Ban Hammer 13,340]

Very little in life is "fair"!

exactly why taxes should be raised across the board.

[james&olya 1,121]

exactly why taxes should be raised across the board.

In the short term you then still have to find a way to stimulate the economy. The only way you have left is for the government to do all the increased spending. Is that what you advocate?

[Ban Hammer 13,340]

In the short term you then still have to find a way to stimulate the economy. The only way you have left is for the government to do all the increased spending. Is that what you advocate?

i have a suspicion that curtailed spending and the influx of tax dollars into federal coffers (i.e. an effort to have a balanced budget or even a surplus) would do more for the consumer and business confidence than always running towards a fiscal cliff.

[james&olya 1,121]

i have a suspicion that curtailed spending and the influx of tax dollars into federal coffers (i.e. an effort to have a balanced budget or even a surplus) would do more for the consumer and business confidence than always running towards a fiscal cliff.

And if this happens both right-wingers and left-wingers would claim vindication of their policies!

What is remarkable to me is the long shelf-life of the GOP's trickle down theories. Despite their close correlation with economic hard-times, they are still believed by a large number of the most harmed (and gullible) parts of society!