Rekna

quoted for truth

dc_dux

McCain's rhetoric about significant savings through cutting earmarks is just that...empty rhetoric. Earmarks represent about 1% of the federal budget.

His claim to cut 20% in discretionary spending is dubious since more than half of discretionary spending is DoD and "terrorism response" (DHS, State and related). The next biggest discretionary spending is VA and HHS...the rest is insignificant.

He either significantly cuts war funding, anti-terrorism funding, vets funding (which is expected to increase for years to come in order to care for Iraq vets) or funding for health/welfare programs....to reach that 20% mark.

So who do you think might bear the burden if he were to follow through with his promise? My guess would be the working poor and middle class who benefit most from HHS spending. Not gonna happen.

Maybe he could start with restoring the $billions lost in lease payments by big oil companies that Bush/Republican Congress waived in the 05 energy bill

IMO, the best approach is get out of Iraq ($10 billion/month) by 2010 along with reasonable (low impact) spending cuts (or freezes) across the board AND restoring the pre-2000 tax rates (particularly on top bracket) to generate significantly increased revenue.
-----Added 27/8/2008 at 03 : 55 : 32-----
added:

Charles Barkley for Secretary of Treasury?

YouTube - Barkley says he'll be happy to pay more in taxes

YouTube - Barkley says he'll be happy to pay more in taxes

BLITZER: If Obama has his way, you would spend another $701,885 in taxes. $700,000 above and beyond – you pay a lot of taxes right now if you’re making millions of dollars a year as you are. How do you feel about that?

BARKLEY: Well, I think that if you’re rich — I thank God I’ve been very successful — if you’re rich, you’re always going to be rich. If we pay more in taxes, I got no problem with that. If you’re making that kind of money, a couple hundred thousand dollars here or there are not going to change your life.

Let’s be realistic. I’ve been very fortunate and blessed. I did a great job of saving my money. But I got no problem if I’m making that type of money, paying more in taxes to be honest with you.

Despite Blitzer putting up on the screen only a portion of the comparison of the Obama/McCain plans...not showing the savings for the lower brackets...cheap shot!

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guy44

Hey, I don't think anyone posted this yet. But it's a really damn easy (admittedly quick and dirty) method for figuring out the difference you will receive in tax cuts between McCain's plan and Obama's plan.

Check it out.

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aceventura3

The hand off to Clinton from Republican administrations was pretty sweet. Reagan absorbed the pain of correcting the debacle of stagflation caused by an ineffective Jimmy Carter. The economy was put on the right track.

If you recall when Reagan took office there was no economic growth, interest rates were in double digits, Iran was out of control, and we were in the Cold War with Russia. The man had some work to do, he did it and set the table for economic growth and stability.

While Clinton was in office, after the fact, we find that we had "irrational exuberance" in the stock market with uncontrolled speculation which artificially bolstered tax revenues. And this gave false readings of economic growth. We had the roots of major corporate scandals, like Enron and World Com. We also had irrational speculation in real estate take root under the Clinton administration. This lead to people using home equity like credit card accounts, it also gave false readings of economic growth and helped bolster tax revenues. And we had the ME extremist planning attacks on our nation.

So, Bush takes office and the economy goes into recession, the stock market bubble had burst, we have 9/11, we go to war, we have the real estate market correct, we have major financial institutions fail and write off billions in losses.

But, after all of that Bush got us out of the recession, we improved national security, we withstood the stock market decline, we are holding our own with the real estate and financial market crisis, and (this is big) the economy is still growing. Imagine that.

Oh, and he cut taxes but tax revenues are up.

Oh, and he cut taxes on the "rich" but the "rich" now pay a bigger percentage of taxes than they did before.

So again we have a Republican President who had some work to do, did what needed to be done so that the next President will have an easier road. Obama should thank Bush.

Republican's have not been fiscally responsible, but Democrats have not been either. To think a Democratic President and a Democratic Congress are going to employ longterm policy to insure economic growth and reduce spending is laughable, in my opinion. I predict taxes will go up, economic growth will slow, middle class Americans will pick up a bigger burden of taxes paid, government entitlement will expand with fewer working American citizens to support these programs, inflation will increase (inflation is a central government's magic wand getting rid of or reducing debt - pay the debt with deflated currency), employment growth will slow, crime will increase, education standards will get worse, more major corporations doing business in the US will be based in other nations, and global warming will continue.

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Rekna

Sorry to say it but we are still in a recession. Also when saying how much taxes the rich pay percentages mean squat. How much overall did they pay then vs now (adjusted for inflation).

aceventura3

Do you actually think Barkley or anyone else making the kind of money he makes is just going to accept a $700,000+ tax bill without putting any effort into reducing that bill? I know you don't like responding to my questions, but I normally think I know how you and most people would actually respond. But, now I am getting concerned because the same issue keeps coming up. Warren Buffet the richest man on the planet does tax planning and does not pay more in taxes than he needs to, do you really, really think a "rich" guy will get a call from his accountant where the accountant says your taxes went up $700,000 this year, and the "rich" guy won't say what did you do to reduce it to $700,000? And then if the accountant says - I did not do anything. How long would it take for the accountant to be fired?

P.S. Don't take financial or gambling advise from Charles Barkley.

The Wynn sues Barkley, claims $400,000 gambling debts unpaid - Las Vegas Sun

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"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."

Cynthetiq

can you please link somethings that show recession? I'm not able to find any such thing.

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aceventura3

I remember someone saying something like "Don't let facts get in the way of a good sob story", I don't remember who but it applies here. In spite of what Democrats say, the economy has not gone into recession.

Free Preview - WSJ.com

__________________
"Democracy is two wolves and a sheep voting on lunch."
"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."

dc_dux

I understand that there are policy differences among TFP members and I have no problem discussion our differences
.
But blammg Carter and Clinton for everything gone wrong in the last 30 years! Gimme a fucking break!

The defense of the Repubilcans as the fiscally responsible party in recent years is not only so factually innacurate but utterly laughable.

I'm done now.

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Baraka_Guru

There is no recession. There is merely the possibility.

reportonbusiness.com: U.S. GDP may allay recession fears

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Humankind cannot bear very much reality.
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Rekna

Well my comment about the recession was due to him saying that Bush got us out of a recession. So I took his assumption that we were in a recession and the fact that the economy has not gotten better. If you want to argue that we were/are not in a recession thats fine. I'll accept that we aren't in a recession as long as we admit the economy is not well off and has not gotten better.

aceventura3

I was pretty specific and certainly did not blame "everything gone wrong" on Carter and Clinton.

Is this an example of one of those mischaracterizations or comments taken out of context that you get so upset about?

Is it o.k. for "everything gone wrong" to be blamed on Bush?

We have heard that before. I will cut to the chase - I apologize if I hurt your feelings. I apologize for being so extreme that my comments are not worthy of being responded to. I apologize for being an ass. I apologize for "cherry picking"? I apologize for not agreeing with you? I apologize for not giving facts. I apologize for reading non-credible publications like the WSJ and IBD. I apologize for apologizing.
-----Added 28/8/2008 at 12 : 40 : 56-----
It is interesting how at a level where a family would owe no tax, they get a "tax cut" under Obama. And that although a family would get one of those "tax cuts" under McCain's plan (just not as much) they actually say McCain would tax you $xxxx dollars MORE than Obama. Then if the McCain tax plan gives a bigger cut than the Obama tax plan they don't even show the results of the McCain tax plan.

I think the intent is to be a bit misleading, and of course there is the solicitation for donations to Obama. In a situation where a family owes no tax, but gets a "tax cut" it would be more honest if both candidates clearly stated that their plans include re-distribution of wealth.

__________________
"Democracy is two wolves and a sheep voting on lunch."
"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."