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Read My Purple Lips: No New Taxes

Mike

Well-known member
Some of you fell for it..........Some of us didn't..................

Are you ready to start paying your $668,221.00 portion of each household's indebtedness back yet? It will be due in just a few years.................... :lol:

2 Obama officials: No guarantee taxes won't go up
AP | August 2, 2009 | Philip Elliott


WASHINGTON (AP) - President Barack Obama's treasury secretary said Sunday he cannot rule out higher taxes to help tame an exploding budget deficit, and his chief economic adviser would not dismiss raising them on middle-class Americans as part of a health care overhaul.

As the White House sought to balance campaign rhetoric with governing, officials appeared willing to extend unemployment benefits. With former Federal Reserve Chairman Alan Greenspan saying he is "pretty sure we've already seen the bottom" of the recession, Obama aides sought to defend the economic stimulus and calm a jittery public.

Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers both sidestepped questions on Obama's intentions about taxes. Geithner said the White House was not ready to rule out a tax hike to lower the federal deficit; Summers said Obama's proposed health care overhaul needs funding from somewhere.

"There is a lot that can happen over time," Summers said, adding that the administration believes "it is never a good idea to absolutely rule things out, no matter what."

During his presidential campaign, Obama repeatedly vowed "you will not see any of your taxes increase one single dime." But the simple reality remains that his ambitious overhaul of how Americans receive health care—promised without increasing the federal deficit—must be paid for.
 

don

Well-known member
why wouldn't taxes go up? most countries have been iving beyond their means for decades. time to pay down the credit card.
 

Mike

Well-known member
Tax rates do not have to go up to balance the budget.............

Spend less and grow businesses to increase gov't income.

Spending more and putting the burden on business is exactly the opposite way to increase Treasury coffers.

Balancing trade would keep more money at home. Not saying specifically to decrease imports.............but increasing exports would go a long ways.

JFK proved that dropping tax rates worked.
 

Tam

Well-known member
don said:
why wouldn't taxes go up? most countries have been iving beyond their means for decades. time to pay down the credit card.
http://www.youtube.com/watch?v=BqGkpuvKBr4

Listen why don :wink:
 

hypocritexposer

Well-known member
not to change the topic but...

don said:
why wouldn't taxes go up? most countries have been iving beyond their means for decades. time to pay down the credit card.

your comment could be used in the argument for energy independence.

if your increases in "green energy", are only accounting for growth in energy needs, are you reducing your dependence on foreign oil?

Is it possible that new taxes will only cover the new social spending and expenses, and not touch the debt?

I do agree with you Don though. Who could have been so believing of "no new taxes", while also believing that there would be such an expansion of social programs etc.?

Did they actually think that you could only tax the top 5%, to pay for all this?
 

don

Well-known member
did americans think china was going to subsidize the american standard of living forever? what will you cut to balance the budget or at least cut the deficit? stand back and look at it and you'll see all americans were spending money they didn't have (either directly or through their governments) and taking on debt the american economy couldn't pay off. i don't think many people realize it isn't business as usual. the usa (and other countries) is bankrupt. cut education, health care, welfare, the military, whatever but in doing so you'll just further weaken the economy and bring on stagflation.
 

MsSage

Well-known member
cash for clunkers is expensive.
Stimluas package is expensive.
National Health Care is expensive.


Come on reduce government spending is the answer. You cant tax and spend your way into a thriving economy :roll:
 

don

Well-known member
i don't think it matters what the american govt. does - the economy is screwed. it's going to need quite the colonic to flush out the crap that's built up over the last thirty years. h w was right about voodoo economics that reagan pushed.
 

MsSage

Well-known member
Might as well just spend all you have plus sinc it doesnt matter?

Don if you truck has a loud clunking noise do you keep driving or do you stop turn it off and find the problem?
 

don

Well-known member
as usual you don't understand. america has outspent its capacity to generate revenue by so much over the past three decades that the debt is of such huge scale that cutting back won't make a dent in it. as a business entity the american govt does not have the assets to cover its liabilities. if spending was cut enough to generate a surplus to make debt payments your economy would be so crippled it would cease to function.
 

aplusmnt

Well-known member
reader (the Second) said:
8 years of two wars is expensive... don is right ... who pays for that? not China :roll: :roll:

Them wars were like a cheap trip to McDonald's for dinner in comparison to the money Obama is spending. Obama has spent so much more in 6 months than it took for them 8 years of fighting Terrorist!
 

hypocritexposer

Well-known member
Obama has made comittments for the next 10 years that are equal to the debt of the the last 200 years, what part of this does anybody not understand?
 

Broke Cowboy

Well-known member
The US of A has been doing fairly well until the debt was increased immeasurably (IMO) just recently.

When a major political, military and financial power has to go to the world markets for money to simply maintain operating capability early in a year makes most of us who have minimal financial knowledge very nervous.

In my opinion - and that of many family who reside in the US of A - you guys are in serious trouble due to irresponsible fiscal managment - most of which has taken place within the past six months.

Your population and business growth is simply unable to keep up with the taxable demands that are coming.

The light at the end of the tunnel truly is a train - and it is coming a lot faster than many realize.

BC
 
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