CBS 60 Minutes POLL - What Would You Do FIRST To Balance The Budget?
The poll is still active. Vote now. The exact question asked is:
- "What would you do first to balance the budget?"
And as of right now 74% say 'increase taxes on the wealthy' up from 61% when the article was written.
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Thoughts on the Obama tax bill from April...
I would have no objection to the 2-year extension had it been paid for - balanced by commensurate cuts in federal spending. The Pentagon would be a good place to start. But there were no spending cuts. Congress couldn't find the guts. So the tax cuts should have been allowed to expire.
The 2-year increase to the deficit because of the extension will be approximately $700 billion, about the price of TARP. The easy fix, that won't hurt anyone but the military, is to cut the Defense budget by 50% over the next 5 years.
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Thoughts on the Obama tax deal are here...
Excerpt:
It's an $858 billion, 2-year pop to the deficit, mostly from the tax cuts not expiring. You want tax cuts? Then cut spending. Make the Pentagon war machine your first target. The deficit is completely out of control, the national debt just hit $14 trillion, and borrowing costs are headed higher. The Helicopter was grounded after the deal was announced, as the blades were straight busted. Bond vigilantes went nuts. Treasuries were annihilated. Russia, China and Japan were likely heavy sellers. B-52 noticed and freaked out silently for hours in his secret room at the Fed, where he keeps the chronic for the really bad moments. Think about it. Everything Bernanke had gained from QE2 in terms of lower rates was wiped away in 4 short days.
Who is the Ben Ber-Nank to think he can predict the sovereign debt tipping point. It'll just appear one day, and he'll be rightly screwed. Ask Greece, Portugal, and Spain if they saw it coming. Yeah, we print our own money. So what. The world is already on Zimbabwe watch and Ben shot his load last month. My mom is on Zimbabwe watch, for chrissakes. She's 71 and paying attention because of all the money printing she's been hearing about during commercials for Dancing With Palin. Wise up fools, $100 billion per month of Treasury suckage won't do jack against pissed-off bond vigilantes. When they're done pounding the Eurozone, we're the next target. Bernanke and his legacy will be swept away by an avalanche of selling, leaving him 30 feet under, with his helicopter out of commish, buried next to his 'I am not a money-printer' ass.
Jul 31, 2011 at 11:02 AM
Reader Comments (20)
http://dailybail.com/home/deficit-giveaways-turn-obama-gop-tax-cut-bill-into-christmas.html
http://dailybail.com/home/bernie-sanders-on-tavis-smiley-bush-tax-cuts.html
http://dailybail.com/home/video-bill-clinton-returns-to-white-house-stage-and-wont-lea.html
read this one...there's a lot in here...
http://dailybail.com/home/the-15-senators-who-had-the-guts-to-vote-no-on-bankrupting-a.html
http://dailybail.com/home/poll-americans-want-deficit-cut-entitlements-secured.html
I think you should check out this video of Michael Hudson:
http://www.therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=6000
He makes perfect sense to me.
You gotta love the spin on this. "If we tax the rich, it will ruin EVERYTHING."
Hmmmmm.....I just got see that to believe it myself.
Job creators, my ass. These are the fuckers who outsource us every chance they get! Tax them into oblivion!
curmudgeon99 January 5th, 2011 12:33 pm
We knew we were in in trouble when the following stories did not raise an eyebrow or comment.
No Surprise !
Anyone in Silicon Valley's venture funding world makes no bones about requiring candidates for investment to move at least 50% of their production offshore before they will be considered for any financing.
I almost forgot to remind folks that the Chamber is big supporter of USAID
As in:
http://www.informationweek.com/news/storage/disaster_recovery/showArticle.jhtml?articleID=226600094
Now It's Armenia: USAID Funds IT In Eurasia
After pledging millions to bolster outsourcing in South Asia, federal agency extends largesse to a new recipient.
By Paul McDougall, InformationWeek
Aug. 5, 2010
URL: http://www.informationweek.com/story/showArticle.jhtml?articleID=226600094
Even as controversy mounts over its funding of IT outsourcers in South Asia, the U.S. Agency for International Development has announced a program under which it will partner with the government of Armenia—a nation anxious to lure computer work from American shores--to promote the development of the country's information technology industry.
Jonathan Hale, USAID deputy assistant administrator for Europe & Eurasia, is on a four-day trip to Armenia to meet with government and private industry leaders in the country. On his agenda is a meeting with Armenian economic minister Nerses Yeritsyan.
"We look forward to partnering with USAID on the IT sector, which has great potential as Armenia has an advantage in this sector," Yeritsyan said in a statement released by USAID. "We want companies to come to Armenia and create their innovative environments," Yeritsyan said.
Among other things, Armenia is looking to establish itself as a center for low-cost IT and engineering work outsourced from the U.S. and other Western countries.
USAID, a taxpayer-funded federal agency, did not disclose how much it's contributing to Armenia's efforts to become a global IT competitor. Among the U.S. companies participating in the project is Oracle's Sun Microsystems unit.
Word of USAID's mission to Armenia comes a day after InformationWeek disclosed that the agency is contributing millions of dollars to an effort that aims to help Sri Lanka establish itself as a player on the international outsourcing stage.
Under director Rajiv Shah, whom President Obama appointed to run the agency in January, USAID will partner with private outsourcers in Sri Lanka to teach workers there advanced IT skills like Enterprise Java (Java EE) programming, as well as skills in business process outsourcing and call center support.
USAID will also help the trainees brush up on their English language proficiency. USAID is contributing about $10 million directly to the $36 million project.
USAID's efforts to help build up IT and outsourcing industries in Europe and Asia would seem to run counter to Obama's public pledges to keep more hi-tech jobs in the U.S., where unemployment in the technology industry continues to run high.
"This action is contradictory to Obama’s commitment to create jobs and revitalize the American economy," said Rennie Sawade, a spokesperson for WashTech, a Communications Workers of America affiliate that represents IT professionals. "Any taxpayer money that is appropriated to train workers to take American jobs should, without question, be directed toward the unemployed and the underemployed in this country," said Sawade.
USAID officials did not respond to requests for comment.
One should not be RICH when things go BAD.
http://www.bostonherald.com/news/regional/view.bg?articleid=1307656&srvc=rss
That sounds very "progressive" of you. Lets cut out medical treatment for veterans as well. You can save lots of money then.
The Two Step Plan to National Economic Reform and Recovery
1. Directs the Treasury Department to issue U.S. Notes (like Lincoln’s Greenbacks; can also be in electronic deposit format) to pay off the National debt.
2. Increases the reserve ratio private banks are required to maintain from 10% to 100%, thereby terminating their ability to create money, while simultaneously absorbing the funds created to retire the national debt.
These two relatively simple steps, which Congress has the power to enact, would extinguish the national debt, without inflation or deflation, and end the unjust practice of private banks creating money as loans (i.e., fractional reserve banking). Paying off the national debt would wipe out the $400+ billion annual interest payments and thereby balance the budget. This Act would stabilize the economy and end the boom-bust economic cycles caused by fractional reserve banking.
http://www.themoneymasters.com/monetary-reform-act/
Send the European slave traders back to Europe where they belong.
“The purpose of this financial crisis is to take down the U.S. dollar as the stable datum of planetary finance and, in the midst of the resulting confusion, put in its place a Global Monetary Authority [GMA - run directly by international bankers freed of any government control -a planetary financial control organization”
Bruce Wiseman
http://www.youtube.com/watch?v=1h0bQxKWq2A
"...to issue U.S. Notes...to pay off the National debt."
"Increases the reserve ratio private banks are required to maintain from 10% to 100%...while simultaneously absorbing the funds created to retire the national debt."
"...would extinguish the national debt, without inflation or deflation, and end the unjust practice of private banks creating money as loans..."
Wow. I'm almost speachless. This clown is wallowing in the quagmire of his own ineptitude.
The "rich" you're referring to and the "rich" that are opposing this are two different classes of people. You're lumping "rich" as the bank and corporate CEOs and the like, and that's not who the "rich" are in America. The "rich" that create jobs, produce, etc., are the middle class, the small business owner.
The "rich" that you're concerned about don't give a damn if you raise taxes or not, they keep their money invested, take loans for major purchases, and pay back the loans tax-free with legal loopholes that are already bought and paid for thanks to our bullsh*t IRS system of "income tax".
Raising the taxes on the other "rich" WILL result in them ultimately stop taking risks, will shut down their businesses, or just stop producing, since there is no value in doing so. These are the people that are your neighbors...
The only way to fix the deficit is to CUT SPENDING. Quit entitling everyone to everything on this green earth, quit bailing everyone out... increasing taxes will do nothing if they don't cut spending.
“The government should create, issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers..... The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity. By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government. Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power." Abraham Lincoln Senate document 23, Page 91. 1865
The Europeans recognized the danger to their financial cartels when the London times published in 1865 this piece regarding our government printing its own currency as Lincoln wished to do:
"If this mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe." - Hazard Circular - London Times 1865.
Long live the King EHT, Long live the King!
Who are we deceiving?
@mike...i've answered you elsewhere regarding the size of gov't...