Im saying that I am a loyal follower of Rush, Hannity, Beck, Olberman(before he bit it), Matthews and Maddow. The truth is always somewhere in the middle, and yes, I did write that to get ur attention. We have to let go of the two party system, it is there to divide and conquer. I finally realized it after Obama. Who is president is irrelevant, the nation will continue to be advanced in a direction until we take a greater interest in our original charter.
The bailout had to happen, the banks had seized up after lehman fell. They were in survival mode. They control the money, and we have to have it. No credit, and it is fubar for all. We should not have let Lehman fall. That was an error. The Captain is stating what needs to be stated, the banks need regulation, the GOP will not do it. Do you seriously think that granting risky loans and then selling them to the greater fool is good? If so, ask Iceland how that worked out for them. If the Royal Bank of Scotland had fallen this last recession would look like a girl scout meeting. But yet, no one wants to talk about that. If we do not do something about that, then it will happen again. We got damn lucky. But our children might not be.
We can do both, now. Trickle down is a fallacy. Programs are being cut for the poor, so taxes can be increased for the wealthy. Don't worry, it won't impact you.
777 Ive been rethinking this trickle down thing. I live in a very hard hit state, and they just raised taxes on us again. Now, if they tax the rich( which is pretty much any professional), then what is to stop the rich from simply moving? Eventually, there comes a threshold for pain. We have lost programs for the poor, the mentally ill, and the addicted because we have to support this giant elephant north of I-80. At some point, we have to tell the elephant to fend for itself.
What is going to stop the rich (not the working class rich) from moving their money offshore and free from taxation? Are they going to move for a 2% increase? I'm just saying that we need to attack the problem on every level, don't you think? Taxes have been too low for a long time. The Bush tax cuts didn't trickle down into the economy. Bush tax cuts didn't strengthen the middle class. Tax cuts on dividends didn't do squat for the average American who doesn't own dividend producing stocks or other investment vehicles. That lost revenue just contributed to the debt. We need to entirely rethink our military budget...and cut it by at least a third. There is so much waste in that area. I'm not saying the debt problem is a sole function of tax cuts, but it is a contributing factor, and those whose lifestyles won't change by an increase in their taxes by 2 to 5% won't even feel it. I remain steadfast that the #1 and most important thing America can do, is to put development of energy (including a push to develop alternatives---push solar panels on the roofs of all office buildings, government buildings, all homes, etc.) in the same way we approached the space race in the 60's, or WWII. It is a fight for survival going forward, as imported energy is just going to get more and more costly. We need to act collectively, as if our future collectively depends on it. We also need to focus on developing methods to ensure that the cost of water is not going out of sight. We need to stop immediately the ridiculous ethanol program, that was only put in place to placate and subsidize corn farmers. Just a joke when bio-diesel and other materials can be used, which do not raise the cost of corn and other related food items. Debt is debt, and if the dollar does slide the way some think, our existing debt will be paid off in inflated dollars. Our problem is that we need an emerging industry...something actually necessary that everyone needs to purchase. IPads are not necessary...but cheaper electricity and energy is necessary.
In Illinois, there are wind farms going up left and right, it has not abated out debt burden. Let me give u an example, If the the state taxed CAT anymore than it already does, CAT will move. This will not only decimate Peoria, but it will hurt the surrounding counties. Most manufacturers here support CAT in one form or another. I am too lazy to look it up, but I wonder if revenues have gone up in states that increases taxes, I would tend to doubt it. The solution is to slash taxes, and entice business here. They will create jobs immediately. When we speak of taxing the rich, we seem to think of the idle rich, and I can assure you, they will move over 2%.
They consume. It is what drives our economy. Consumption. They are also likely to invest. Which helps as well. But primarily, they consume.
What exactly do they consume? The idle rich that you know of, are they really consuming in proportion to their wealth? Yes, they are likely to invest...but are those investments going to something that creates new technology, new industry in our own country?