Investors lose a trillion dollars in one day

[joeydb]

Originally Posted by Riot

What is your tax bracket? The facts are, your taxes have never been lower.

If you want to pay zero, and are angry you think other people are getting something you are not, I suggest you move to another country. This is a society where we all contribute to our common good through income tax.

Alot of that 47% btw, as opposed to the Faux News screaming about welfare queens (left over from the Reagan years) are very, very wealthy people, who pay far less a percentage than you.

Why are you not mad at them? It makes no sense to me.



Yes, Joey, we have no trouble paying our bills. Yes, we have to curb spending.

But this has been two months of false, ginned-up Republican electoral rage about nothing. It's pure political theatre, meant to harm Obama.

We should have raised the debt ceiling routinely as we always do - as we have 79 times before - two months ago, then congress could have spent all the time they wanted on cutting things out of future spending. Congress didn't do that. The Republicans chose political theatre over helping this country. They are toast.



Our rating went down because the Republicans spent two months in Kabuki theatre, and that's exactly what S & P said in their press release announcing it.



Then I suggest we raise our revenues back up to where they were before Bush gave it away. Because that's when we could spend less than what we took in. Bush decimated our income - that's the fact of it, and that alone with his wars s responsible for 1/2 our current debt.

You do the math - we cannot "cut" our way to prosperity. The math doesn't work. It's impossible. We need to have the income we had before Bush gave it away. Only a small portion of that is due to the recession.

No that's the point - we don't ALL contribute. Half do nothing. The other half pays twice as much as it should. That's absurd - and it wasn't the conservatives that brought that situation into existence.

So you admit that "no trouble paying our bills" amounts to interest-only payments on a $14.5T debt. And those interest payments have and will continue to increase as a proportion of GDP. That is the mechanism for real default, real bankruptcy and ruin. Case closed.

Again with the talking points. Why can't you just say "taxes" instead of "revenues" and cease referring to the tax cuts as "giving away revenue"? It's as if you think the government has the right to all of everyone's money, and whatever pittance we're left with is due to their good graces. Your selection of words, how you use revenue, income, and give aways indicates that you are for government first and citizens a distant second.

[Antitrust32]

If Riot would have been around in the 1700's I believe she would have sided with the Brits.

tax tax tax tax

[Riot]

Originally Posted by Antitrust32

If Riot would have been around in the 1700's I believe she would have sided with the Brits.

tax tax tax tax

Really? Why? What have I ever said about taxing for no reason? What a made-up, nonsensical ad hominem attack. Stick to debating the opinions.

[Riot]

Originally Posted by joeydb

No that's the point - we don't ALL contribute. Half do nothing. The other half pays twice as much as it should.

No, they don't pay "twice as much as they should", they pay the regular amount, their taxes have not gone up, they have gone down.
But our income has gone down because some people pay less than others.

And I am not worried about poverty-line people paying taxes. They should not. I am worried if you are in the 28% bracket, and Warren Buffet only pays 16% (as he has said he does) due to loopholes.

That's absurd - and it wasn't the conservatives that brought that situation into existence.

Actually yes, it was.

So you admit that "no trouble paying our bills" amounts to interest-only payments on a $14.5T debt. And those interest payments have and will continue to increase as a proportion of GDP. That is the mechanism for real default, real bankruptcy and ruin. Case closed.

Nope. Case closed only if one is simplistic and ignoring more than half the truth. We have no trouble paying our debt. Even yesterday, American treasuries were considered the safest haven in the world. The world is throwing money at us, at marginal low interest rates, begging us to borrow, as we are so reliable and safe.

Half the AAA rated countries by S & P have greater debt to GDP ratios than us. That is not the problem. The current problem resulting in the credit rating downgrade is due to the obstructive politicians in Washington - which is the Tea Party and the GOP who refuses to raise revenue (specifically outlined by S & P in their press release).

Bush cut our income markedly. We need that back.

If you want your taxes lowered, then I suggest you support removing loopholes from the wealthy, so everyone pays a relatively equal percentage, and the tax base is expanded.

Again with the talking points. Why can't you just say "taxes" instead of "revenues" and cease referring to the tax cuts as "giving away revenue"?

Adults, in the financial world use the word "revenue" to describe income. We get our income, as a country, from taxes. It's not a talking point, it's just the correct word to use.

You can increase revenue without raising the tax rates, but by closing loopholes. That's only a tax increase to the dogmatic narrow-minded Grover adherants. Which is primarily 2/3 of the Republican party.

It's as if you think the government has the right to all of everyone's money, and whatever pittance we're left with is due to their good graces.

Baloney. That is no where near what I think. What I think is that we live in a cooperative society, and our Constitution said our government has the power to tax for the common good. And we do, to make all our lives better.

Your selection of words, how you use revenue, income, and give aways indicates that you are for government first and citizens a distant second

No. It means you stick to the strict talking points you've been told to use.