Tax Cut for the Wealthiest Will Cost America $700B

Jermyn Davidson · #1 09-12-2010, 04:24 PM

Extend the tax cut for the wealthiest, America loses 700 Billion.

"As Henry and I discuss in the accompanying clip, Obama faces a "da--ed if you do, da--ed if you don't" situation: If he tries to do more to stimulate the economy (or even use the word "stimulus") he's labeled a big-spending Democrat with Socialist leanings. But if he focuses on austerity and bringing down the deficit, many economists fear he'll trigger another big downturn and concerns about the banking system, as is occurring in Europe."

Read story and view video below.

http://finance.yahoo.com/tech-ticker...tt_535411.html

Jason B · #2 09-12-2010, 04:31 PM

BeenThinkin · #3 09-12-2010, 04:33 PM

Just think what it has cost America electing Obama president!

Jermyn Davidson · #4 09-12-2010, 04:54 PM

Quote:

Originally Posted by BeenThinkin

Just think what it has cost America electing Obama president!

So what do you have to say about the quote and the link I provided?

coadie · #5 09-12-2010, 05:02 PM

Quote:

Originally Posted by Jermyn Davidson

So what do you have to say about the quote and the link I provided?

Gotta to play up class warfare. Liberals want to punish success and get their greedy hands on money they did not earn.

Government workers are really after money from people that work and invested instead of spending.

RevDWW · #6 09-12-2010, 05:17 PM

You do understand that the "wealthy" start business' and employee people. There money is not stuffed in their mattress or in a vault. It's invested in the economy.

coadie · #7 09-12-2010, 05:44 PM

Quote:

Originally Posted by RevDWW

You do understand that the "wealthy" start business' and employee people. There money is not stuffed in their mattress or in a vault. It's invested in the economy.

I have a neighbor. She lived next door and her office was next door in the office tower I moved to. Lets tax her. She has a couple hundred million in the bank. She drives 2 cars over 5 years old. The bank is stressed. If she takes out 100 million for taxes on her dividends, the bank has 100 million less to loan to customers and is even more stressed.
Jerym and Barack have not taken econ classess. They think it is popular to nail rich people. If the bank has less money to loan, less businesses start. Investment capital is part of economic growth. Obama wants to shrivel capital more than it already has. My estimate is the total value of equities in America under Bush was around 58 trilliion. Under Obama the value of equitiies fell to nearly 40 trillion. Lets tax these people even more and send more business to China.

Obama really pumps people up to covet money from the neighbor. Tax the wealthy. people that saved money instead of binge spending.

Bowas · #8 09-12-2010, 07:24 PM

Quote:

Originally Posted by RevDWW

You do understand that the "wealthy" start business' and employee people. There money is not stuffed in their mattress or in a vault. It's invested in the economy.

You beat me to it. I was going to ask the question, What do you think the wealthy would do or do with the money that is not taxed? Yes, you guessed it. They invest it and in turn that gives the smaller guys jobs and in turn gets them off welfare/unemployment or whatever.
Tax the rich, lose your job.
The rich at least produce and or give something back by way of jobs and taxes. I think we need to go after the greatest consumer of the peoples income and that is the government. They take and cannot give what they have not first taken.

Esther · #9 09-13-2010, 01:11 PM

Quote:

Originally Posted by RevDWW

You do understand that the "wealthy" start business' and employee people. There money is not stuffed in their mattress or in a vault. It's invested in the economy.

BeenThinkin · #10 09-12-2010, 05:21 PM

Quote:

Originally Posted by Jermyn Davidson

So what do you have to say about the quote and the link I provided?

Interesting! I think he's "damned" because sometimes he does and sometimes he doesn't!

How can you believe anything (and that's a broad brush) that the man says. He's been proven wrong on so many things, and most have been posted on AFF in the past.

Have the "wealthy" contributed anything to America? It's not the poor that create jobs, it's the wealthy. How many jobs do you suppose Microsoft has created or provided to America?

How many jobs has Apple provided?

And the list could go on.

If Obama wants to deal with what caused so much of this present financial crisis why doesn't he deal with the Freddie Mac, Fannie Mae whealer-dealers?

One more question... Is there any previous examples of where taxes were cut for everyone and the economy turned around?

BT