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The Public Policy
The Obama Tax Hike Machete
Innovation and entrepreneurship take the bloodiest hits.
In his deficit reduction “vision” speech on Wednesday, President Obama tried to distinguish his plan from that of House Budget Committee Chairman Paul Ryan by using a rather crude analogy. The president said, “We have to use a scalpel and not a machete to reduce the deficit.”
But when it comes to tax hikes — to extend the analogy — the Obama administration’s 2012 budget is charging at business partnerships of all sizes with what could be described as a Texas-size guillotine.
The blunt instrument in Obama’s proposed fiscal year budget unveiled last February — a budget that he referenced on Wednesday as the blueprint for his deficit plan — is a proposal to tax much of the capital gains of a partnership as ordinary income as well as subject them to hefty payroll taxes for Medicare and Social Security. This would more than triple taxes in many cases from the current top capital gains rate of 15 percent to the top personal income tax rate of 35 percent. Or actually 39.6 percent, since Obama would let the Bush tax rates expire too.
The contrast in Obama’s approaches to spending and taxes could not be clearer. Obama insisted Wednesday that he would not pursue spending cuts that “sacrifice the core investments we need to grow and create jobs.” Whether the spending he wants to preserve actually does “grow or create jobs” — and most of it does not — is one thing.
But Obama shows no such care or precision when it comes to making sure his tax policies do not “sacrifice the core investments” of the private sector. The carried interest tax is a direct attack on the structure of partnerships that are used by innovative businesses — from small firms to venture capital and “angel investor” groups — that take risks and make an outsized contribution to economic growth and job creation.
Proponents of the “carried interest” want you to believe that this will only hit big hedge funds. Not that there is anything wrong with hedge funds per se, even though George Soros runs one. As I have written, they are one of the best forces to hold public company CEOs accountable to all shareholders.
But the tax, as put forward in the Obama budget and by legislation last year from the Democrat-controlled Congress, would actually have a much broader reach to virtually all partnerships. There is no asset or income threshold, so firms from venture capital houses to doctors’ offices to family farms, all of which are often structured as partnerships, could be negatively affected. According to a new study by the accounting firm Ernst & Young, “flow-through businesses” such as partnerships and limited liability companies “employ more than one-half of the private sector workforce in every state except for Delaware and Hawaii.”
And a report by the accounting firm KPMG on the Democrats’ “American Jobs and Closing Tax Loopholes Act of 2010,” which passed the House last year and came three votes short of the 60 needed to clear the Senate, found that the bill “could apply to partnerships in virtually any kind of business and could fundamentally change how partnerships are taxed.”
In a partnership — from hedge funds to venture capital to small business — the partners are taxed on a business’s earnings at individual tax rates, instead of the business itself being taxed at corporate rates and then doubly taxed on any dividends it pays out. In many partnerships, some partners get bigger stakes in the company because of the services they perform, in addition to the capital they have contributed. This is called the “carried interest.”
The individual with the “carried interest” is taxed at the rates of ordinary income for his or her everyday salary and for much of the business’s activities. But these partners pay the individual capital gains rate when the other partners receive capital gains for sales of such assets as stock and real estate. The president’s budget would drastically change this, taxing these gains as ordinary income and subjecting them to payroll taxes. This would more than triple the rate of taxation in many cases.
Even if there were an asset threshold for partnerships, this tax hike should still be rejected because of its devastating effects on the job creators. Although their investment strategies differ, large venture capital partnerships are organizationally structured in the same manner as hedge funds. According to the National Venture Capital Association, “By more than doubling the taxes paid by venture capitalists on carried interest, Congress would be upending the risk/reward balance and creating serious economic consequences for very little revenue.”
Ironically, by stifling venture capital and innovative partnerships, Obama’s carried interest tax hike would also be cutting the lifeline of some of the very types of businesses he champions, such as “green energy.” Folks peddling windmills and biofuels are getting tons of funding from venture capital and angel investors, as well as arguably more deserving entrepreneurs.
In short, Obama’s tax hikes on innovation and entrepreneurship are a recipe for, to borrow his phrasing, losing the future.
About the Author
John Berlau is Senior Fellow for Finance and Access to Capital at the Competitive Enterprise Institute and blogs at OpenMarket.org.
Letter to the Editor View all comments (156) | Leave a comment
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Bill Hussein O'Stalin| 4.14.11 @ 6:10AM
Obama's presentation was not a speech. It was simply a simple minded teleprompter event which recycled some cliched class warfare and accounting gimmicks which have never worked, like the fail safe trigger. What a joke, the fail safe straight out of Dr. Strangelove. The only thing missing was Dr. Strangelove raising his arm and exclaiming, “My Fuehrer!”
The reason it was not a speech is that political speeches define courage, speeches define the future, speeches define and encourage enthusiasm. All Obama encouraged was more class warfare, in fact he insisted on it. In that sense he was not the President he was Robbing Hood.
The presentation was full of misrepresentation and that can be expected in some political environments.
But our country faces tumultuous trouble with out of control government spending and few if any politicians have the integrity and courage to take it on and tame it. They would rather fill the airwaves with political blather while serious problems go begging for solutions.
What we have is a President who feels that threatening many Americans with higher confiscatory rates would give everyone that warm fuzzy feeling. It appeared to have that effect on Joe Biden who was taped sleeping during the speech. Apparently that assignment to work out the spending cuts of 14 billion was very taxing on Joe. Either that or having a government subsidized train station named after you is more strenuous then we have been led to believe.
In another strange twist Turbo Tax Timmy who didn't pay his taxes was shown in the audience with a big beaming smile while Obama bragged about raising taxes. You can't make this up!
If you could get by those awful face grimaces that Obama is now prone to making, there wasn't much of a message other then we're in real trouble and most of that trouble stems from the fact we have no leadership in the White House or the Congress.
One of the highlights of his speech oft quoted in the press occurred when he said wealthier Americans should pay higher taxes as a matter of fairness.
"As a country that values fairness, wealthier individuals have traditionally born a greater share of this burden than the middle class or those less fortunate....It is a basic reflection of our belief that those who have benefited most from our way of life can afford to give a bit more back," he said in his prepared remarks.
And what was the real message? The real message could just as easily been stated, “We want your money and we're coming to get it and sooner then you think and if you don't like it, screw you.”
One of the sillier parts of the presentation was the so called fail safe trigger, that would would kick in by 2014, if budget projections show that the ratio of the country's debt-to-GDP hasn't stabilized and begun declining. The Republicans would have to be absolute fools to agree to that but that hasn't stopped them before.
In fact, it doesn't appear to be stopping them now when it comes to the debt limit. Here's three card Monte Boehner claiming we have no choice but to raise the debt ceiling. After a meeting with Obama in the White House prior to the Obama teleprompter event, Boehner stated, “Not meeting our obligations, our debt obligations, is a very bad idea" Stating political non sequiters is a very bad idea too, but the Republicans and the Democrats keep them coming.
In fact, according to an article in CNS news there is no way the deal the Republicans made with Obama could preclude raising the debt ceiling so it appears the House leadership already sold out on that.
And that appears to be the theme unfolding here. Since the alleged 38 billion dollar deal was announced the public has discovered that the whole plan was a big lie. The actual savings were 14 billion, barely 4 days interest on the debt. Frankly it wasn't worth discussing.
Further proof of that was found when the CBO released a report stating that the actual non-emergency savings are $325 million. That's right! So we went from 100 billion to 60 to 38 to 14 to maybe $325 million dollar and that's why the deal was falling apart in the final days this week.
With the apparent behind the scenes deal on the debt limit already in place the public should now face the obvious.
The Democrats and the Republicans have no intention of any serious cutting. The public will have to rise up next year and throw these incompetent bums out of the U.S. Congress and the White House.
They are practiced at the art of deception and little else. What this indicates is that the dollar will continue its devaluation which will make many commodities more expensive and you can see it clearly in the price of a barrel of oil. In essence, they professional politicians don't feel your pain, they encourage it with their lack of vision and continual reliance on political cliches.
Similar to the Dr. Strangelove movie plot, there is a financial H-Bomb going off in America and the political class dithers as it moves past any point of recall.
The second phase of this deception will kick in when inflation hits and believe it. It's coming.
In the meantime, expect no justice, fairness or truthfulness from either party. They are totally corrupt and there isn't anyway that can be fixed before the next election cycle.
The Bishop| 4.14.11 @ 7:11AM
Bill, I always enjoy your analyses. If you ever get to northern Indiana (South Bend), I'd love to take you to dinner and chat. Good analysis of the Lincoln/Roosevelt/Reagan/Obama landmark address. What President stages an address regarding historic dangers to the country at a college campus at 1:30 in the afternoon? What a complete fraud!
Ned| 4.14.11 @ 1:01PM
Why a college campus? Barry Bull$hit was talking directly to his base (in addition to 98% of all black voters)... the young and the stupid, who are already reliably indoctrinated and unable to think critically, who know nothing of history and therefore aren't alarmed by the greatest threat to our republic in 199 years..
Frisbee| 4.14.11 @ 2:15PM
Government is the new idol. It needs a little surgery with a nice clean scalpel now and then. Your wallets will be confiscated and your arms severed with a machete, to pay service to the idol. Obama is the high priest of the new idolatry.
old white guy| 4.14.11 @ 3:20PM
sooner or later americans are going to have to kick the ballot box over and forceably remove the criminals that are in control of the country.
Fredrick Ward| 4.14.11 @ 3:21PM
Sadly, that is exactly the truth. We are screwed with these people running the country. I'm getting the feeling that they want the United States to fall into a Third World era.
Nunya| 4.14.11 @ 6:30PM
Bill, excellent post and analysis. Unfortunately, you are absolutely right on target.
We've been sold out by Boehner and the rest of the Ruling Class R's. I'm just waiting to hear "Let them eat cake"...
Susan Mays| 4.15.11 @ 1:38AM
I am going insane! People mix up "then & "than" so often I am beginning to think I learned wrong in all my years of private Catholic Schooling.
Larry| 4.14.11 @ 6:38AM
It's simple. Do you want to be a slave or do you want to live free?
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are institutioned among Men, derviving their just powers from the consent of the governed. That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most liekly to effect their Safety and Happiness.
Great words indeed and words that need to be strongly considered given what governements- local, state and federal have become.
USSAlabama| 4.14.11 @ 9:31AM
Well, what else do you expect from someone who is moving you down the road to a two class system?
In social/commun-ism you have the 'Elite' and the poor.
Thus this step on the path of the Dreamer's dream.
Dreams for You.
Frisbee| 4.14.11 @ 2:16PM
Two classes: government workers, racist rubes.
ggoblue| 4.14.11 @ 6:57AM
yesterday the president declared ownership over all wealth and all labor. your take home pay is actually a gift and a form of federal spending.
communism plain and simple
why did biden fall asleep? because he considers communism a given and not at all controversial. the subject is a 'given' and therefore does not require his attention.
oldfart| 4.14.11 @ 8:20AM
A more likely reason is the the VP is a stupid old fool who should be in a retirement home for the mentally infirm.
wbheff| 4.15.11 @ 1:13PM
And the substitute that we have for a president shoudl be in gaol!
Larry| 4.14.11 @ 7:03AM
Unfortunately, a signifcant part of the population will vote for this wanna-be dictator in 2012, no matter what he does. Beauty is only skin deep.
The Bishop| 4.14.11 @ 7:13AM
But authoritarian socialism goes all the way to the bone. And this guy is a real bonehead.
Larry| 4.14.11 @ 7:22AM
He's not nearly as smart as the lamestram media makes him out to be. In fact, he doesn't strike me as being particularly smart at all. The mistake that too many people are making, particuarly on our side is that his failed policies are the result of his incompetence and stupidity. This would imply that he's at least trying to create jobs, priovide for national security, revive the economy, etc. Not true at all. Things are working out exactly as he wants. He hates this country and it has always been his intention to destroy. Of course "destroy" is a word that he'd never use. He simply veiled under "change". How many morons who now have buyer's remorse are kicking themselves for not asking "What change? What's he going to change?" Well, we now see. The captain of the ship is steering us directly toward the rocks.
Immortal 600| 4.14.11 @ 1:54PM
Larry,
You have just about summed it up perfectly. I pray that the 10 million voter deficit that we need to make up, happens. This guy is a class A fraud.
Frisbee| 4.14.11 @ 2:20PM
Larry wrote: "The captain of the ship is steering us directly toward the rocks."
You see how smart he is. That is precisely his strategy. In order to replace the old order, it is easier if you first destroy it.
Ken (Old Texican)| 4.14.11 @ 7:34AM
John,
thank you for that.
For nearly three years here, I have been unapologetically describing Obama and crew as communists, (pardon the shorthand).
At first, I was chided a lot for that blunt assesment. I am fascinated that an increasing number of well known columnists are using the term...along with the term "socialist" these days.
I'm an old fart. I grew up when "communist" translated into "duck and cover" (under my flimsy school desk once a week for nuclear air-raid drills, and stories of mass murder and gulags.
There is NO question in my mind that Obama and crew would engage in those precise actions if they thought for one minute that they could get away with it.
I haven't been telling scarey bed-time stories, John.
In fact, I have carefully thought through the placement of my "canaries in the coal mine".
I just completed and released my newest novel, hopefully to help lots of other folks place their own "canaries" carefully.
Most of the long time TAS readers have bought the book already. It pleases me no end that many columnists have picked up on my "fictional what ifs" and brought them into non-fiction discussions.
I hope you will drop by the web-site and read the reviews and excerpt. www.americaalonesaidno.com
PJ| 4.14.11 @ 9:59AM
There's quite a few of us over by me who also knows that Obama is a communist ever since he was elected to the US Senate.
But this time I am going to 1 up on you. There's quite are a few of us who believe he is evil & heartless, especially since he has so blatantly stated his views on babies & partial-birth abortion! Even Pelosi, who I also detest isn't that bad, although very close!
Truth is King| 4.14.11 @ 5:01PM
What's to one-up? Communism IS evil & heartless.
The arrogant Obama is serving his evil master, his father the Devil.
Immortal 600| 4.14.11 @ 2:00PM
Add to this, the fact that he IS a closet Muslim. I firmly believe that. His time in a "Christian" church was a sham. He does what he can to abide by Muslim doctrine. The not wearing of jewelry for the beginning of Ramadan for example. His belief that the call to evening prayer is the most beautiful sound on earth. How else to explain it????
Intelligent Design| 4.14.11 @ 7:57AM
Obama is ignorant and incompetent concerning: the federal budget and national debt; taxation; economics; executive management; business; medical care; foreign policy; the war on terror; upholding the law; energy policy; and as commander-in-chief. He thinks that all he needs to do is give a speech; but he stinks at that too. How did this moron ever get by Professor Kingsfield at Harvard Law?
Larry| 4.14.11 @ 8:05AM
Affirmative action.
Al Adab| 4.14.11 @ 11:50AM
The problem guys is that he is not ignorant or incompetent. He is pursuing the agenda he spelled out during the election campaign. "We are going to fundamentally transform America". What that means is to develop the Social Utopia The Left so desires. Remember to them it is a matter of Faith that central planning is preferable to free markets and that the self-annointed elites and Mandarin class of bureaucrats know best what is in all of our best interest. Nothing could be more antithetical to a free society than that. This battle is literally for the future not only of America but of the very concept of Freedom for the world. Future generations will either laud us for our fight or curse our names for delivering them into another thousand year dark age of tyranny. The stakes could not be higher.
Albert| 4.14.11 @ 12:29PM
I'm afraid I must agree with the "ignorant and stupid" analysis of President Bozo. True, he spelled out his "agenda" during the campaign, but that does not mean he is that agenda's true author (even his books were ghost written). President Bozo is quite frankly, the stupidest man ever to set foot in the White House. He knows nothing, has experience in nothing, is capable of nothing, and creates nothing, not even his own policies. All that is done for him by his puppeteers, the internatinal socialists who bought and paid for this guy, and groomed him for this job. All Bozo does is read the teleprompter and sign where told to. Why anyone, let alone the House Leadership, would listen to a lecture from this ignorant, disrespectful goon is beyond me.
Al Adab| 4.14.11 @ 12:42PM
Albert:
In the sense that he is the face of others and is their "chosen candidate" you are correct. He is totally captive to the Faith of the Left and is the personification of the empty suit. The problem is that he is bright, likeable and devious as well. This is a recipe for disaster.
Albert| 4.14.11 @ 1:39PM
I would disagree that he is bright and likeable. He impresses me as rather dim witted and annoying. I would not enjoy "a spot of tea" with this person.
Grzmlyk| 4.14.11 @ 2:07PM
Al Adab, please don't take this too personally, but I really have to ask you, what is likeable about him?
He struck me from the moment I first saw him as a churlish, scolding, puerile, ignorant, contemptuous, condescending, elitist, lazy, vengeance-seeking, vain, cold, ideologically blinkered, petulant, angry, jealous, resentful, adolescent.
I'm not joking or trying to be flip - I used to hear people say he was likeable and I just scratched my head. Are they kidding? Likeable? Who the hell are they looking at? Because the putz I am looking at is obnoxious and insufferable and someone who, if I worked in an office with him and saw him get into an elevator, I'd wait for the next elevator rather than be stuck with that preening prig.
Seriously, I want to know what is likeable about him. The fact that he can affect a sort of hipster, authentically black, off-the-cuff, casual sort of insoucience? It's phony; the guy doesn't have a genuine bone in his body, and he has not one iota of compassion or kindness in him.
I think people - not you, perhaps, but many pundits - say he's "likeable" when they mean "black."
Because saying they personally like him - as O'Reilly still does and Krauthammer used to (before one sleight against Israel too many, alas), as Hannity used to ("he's a good family man." - my ass) and on and on - is a an attempt by people who want to stay in liberals' good graces to sound equinanimous and to inoculate themselves against the charge of - gasp - racism. I mean, we can't have an African American be held to the standards of other people, now, can we? Why, that would take all the starch out of affirmative action.
As for intelligence, again, ?????? He has SOME facility for language - SOME. But bright? Not in my book. He doesn't know shit from shinola about anything, from sports to world history to economics to human nature.
He's a damned callow and vain fool and a shitty human being. And his basketball sucks as bad as his golf game.
Frisbee| 4.14.11 @ 2:39PM
Well said Grzmlyk. And don't forget he has stated publicly that he would have his own grandchildren murdered if they were a "burden".
Grzmlyk| 4.14.11 @ 2:53PM
Yes, Frisbee - I think what we have here is what the Democrat party specializes in producing: a sociopathic narcissist.
Carter, Cinton, Gore, Kerry, Obama. Yeah, the Dems are on a roll.
Each of these execrable pieces of crap is cut from the same psuedo-intellectual, amoral, thoroughly solipsistic and self-serving cloth. All are personally unendurable.
Gee, I wonder why it is that, as Democrats move closer to being the party of Marx, their leaders become more and more pathological.
Al Adab| 4.14.11 @ 3:41PM
Nothing personal at all. My opinion and reaction to him much more closely approximates your own. I refer sadly to the majority voter opinion. All too many find him as I described rather than your more accurate analysis.
Truth is King| 4.14.11 @ 4:56PM
Al Adabb,
You're awesome.
skip| 4.14.11 @ 2:23PM
I have to emphatically disagree.
The problem is that he is really and truly an idiot, unlikeable to the degree he is loathsome and detestable, and transparently devious in that despite relentless deceptive efforts to the contrary his intelligence and dishonesty are blatantly obvious.
Grzmlyk| 4.14.11 @ 2:41PM
Yup.
Anyone who actually seeks refuge in ignorance and succor in closed mindedness - and they are legion - is both a fool and intellectually stunted.
There is one thing that has driven this eternal adolescent, this political Peter Pan, this Zelig wannabe, his entire life: RESENTMENT.
He decided at a very young age the way the world works and how he was going to exact his pound of flesh in revenge, and he has assiduously hewed to that childish vision ever since, shutting out all moderating knowledge and ameliorating experience that might mitigate against that raw, deliciously undiluted anger along the way; he clings to his Manichean view of the universe with - pardon the expression - white knuckles, whereas human beings with healither psyches tend to develop adult sensibilities and learn that creation is a vastly more complex place than they could ever grasp, that abstractions are not reality, and that simple, one-size-fits-all answers seldom work in the real world.
He is like an onion - peel away the pungent layers of envy and hate that are held together by ideological zeal, and there is simply nothing there.
Nada. If Bartleby the Scrivner had matriculated through the padded corridors of affirmative action, he'd be Obama.
Frisbee| 4.14.11 @ 2:42PM
"transparently devious" - yes, very well put. Like for example when McCain said he started his campaign in Ayers' living room and ZerO replied "I did not start THIS campaign in Ayers' living room".
Or that stupid response about human life being "above his pay grade". Oh, how cute. No doubt he defers to Hermann Goering on "life" issues.
Impeach Don't Wait| 4.14.11 @ 10:59PM
I think you all dislike him because you know what he stands for, and you rehearse disliking him. If you agreed with his policies, you'd like him just fine. At the same time, not everyone dislikes someone they disagree with. So I think it's entirely possible for some opposed to him to find him likeable. Not everyone's the same.
skip| 4.15.11 @ 12:43PM
Rehearsed???
Try:
innate;
congenital;
instinctive;
primal.
From the start.
A speech during the 2004 democratic convention.
Long before it was even thinkable he could possibly be a viable candidate.
Rehearsed???
SUBVET| 4.14.11 @ 6:32PM
Al.....my fear is he will somehow change the outcome of the election. After seeing "Hacking Democracy" HBO special in 2006 antthing is possible.
Intelligent Design| 4.14.11 @ 1:13PM
I view all socialists as ignorant and incompetent relative to the kind of leaders we should have in a free, capitalist, republic. So, for example, Hitler, Stalin, Mao, Castro, Lenin, Marx, Chavez and Obama all fit the description.
Louis Jenkins| 4.14.11 @ 8:05AM
Well, whenever there's some murderous task to be performed the presidents always mention Lincoln in their speeches. Apparently Obama is no different. While Lincoln schemed and planned to help start a war, Obama is one step closer to doing the same. Our take home pay, our homes, our cars, our ability to buy groceries, is no longer ours. It ALL belongs to president Obama. And while some of his cronies fell asleep, other tax dodging flaggards smiled, as though in rapture on how they had bilked the system. But we will not have that option. Obviously the political system has no intention of budget cuts this year, and I seriously doubt they will next year, unless we come down hard on their arses. Now is the time.
oldfart| 4.14.11 @ 8:06AM
After the President’s ‘speech’ about his solution about the budget and reading the commentary in the WSJ I get the feeling that we are not moving to a ‘socialist’ society, but one based on a feudal system. A society where all wealth is ‘owned’ by the Sovereign (an individual or a small oligarchy), that is distributed to lesser lords and peasants as required to keep the unwashed masses quiet. He is without a doubt the most arrogant President since Andrew Jackson.
Nunya| 4.14.11 @ 6:39PM
Yes, but Andrew Jackson was a man of honor, and one who destroyed the 2nd Bank of the United States, our current Federal Reserve's forerunner. He's still my favorite President for both those reasons.
The Bruce| 4.15.11 @ 1:16AM
I like Jackson for the very same reason. And assassination attempts on him were the result. The same rings true for others that followed in his footsteps.
Clint| 4.14.11 @ 8:26AM
The Peter Principle Leaderless Leader Obama Is Beatable.
"(CNSNews.com) - President Barack Obama’s approval among the poorest Americans dropped to an all-time low of 48 percent last week, according to the Gallup poll, leaving the president with less-than-majority approval among all income brackets reported in Gallup's presidential approval surveys."
The Tea Party Rebellion Escalates.
We Walk The Talk At Tomorrow's Tax Day Rallies.
Carpe Diem.
Grzmlyk| 4.14.11 @ 8:41AM
I'm surprised the trolls haven't landed on this article yet.
I give them another 10 minutes.
They're wrapping up their morning meeting, receiving their marching orders from the Huffpo and Daily Kos right now.
In a few minutes, rapist felons like Vtwin - and, no doubt, several of his fellow economic Klansmen - will be here spouting bogus statistics, advocating the destruction of the private sector in the name of a vague abstraction called "social justice" (or, god forbid, "economic growth") and explaining to us with great conviction that the very naked emperor Obama is wearing a fine suit of clothes.
And then pointing a gun at our head and telling us to fork over the small amount of money the Federal government hasn't already confiscated. You know. In the name of GOODNESS.
I have to admit, liberal rationale is a pretty neat trick: They prescribe a world where they and their cronies can break into a private home and then harrass, loot, vandalize and terrorize the law-abiding, productive citizens, abscond with everything those citizens have worked for, and then go divvy up the booty with their fellow criminals - and THEN claim the moral high ground for doing so.
Obama shouldn't be re-elected. He should go the way of Mussolini, and in the same fashion.
Frisbee| 4.14.11 @ 2:58PM
Grzmlyk - you have pinned my truth-o-meter.
Mimi| 4.14.11 @ 3:46PM
God GRZ....I just lost my breath laughing...You are hilarious! ! The frustration of this scene.... "O" to Ryan and crew ...." Your invited to my SPEECH Party...Gives them a front row seat... Then gives them a Public dress-down..for daring to come up with the FAMOUS..Paul Ryan deficit plan to gosh darn safe the country.....Yes GRZ..this GUY has serious character problems...and we all get to see the " SHOW" of severe envy on the part of The Adolescent President of these United States. Funny but so..so..SAD !
Truth is King| 4.14.11 @ 5:27PM
Paul Ryan is my hero. Gotta love him. Did you hear the cuts Rush played of him today? I was bursting with joy.
He will make a great President. That's a prediction!
That's it, he's running.. and if he isn't we will convince him to!
LarryK| 4.14.11 @ 8:52AM
"We're doomed!". C3PO
Aqua Buddha| 4.14.11 @ 12:44PM
"Resistance is futile."--The Borg
"Hearing him [Obama] speak just sends a tingle up my leg!"--Chris Matthews
Grzmlyk| 4.14.11 @ 8:57AM
"True Dat" - any number of Hip Hop "artists"
winterhawk| 4.14.11 @ 9:07AM
Chairman obama left no doubt yesterday that he is a communist. He was born and raised in it. He loves communism. He wants to be dictator.
Grzmlyk| 4.14.11 @ 10:10AM
No, no, no, Winterhawk; Kirsten Powers, one of the left's "Democratic Strategists" - i.e., pundits without portfolio - was on Fox News the other day ridiculing those who operate under the "ridiculous" premise that Obama is a socialist - never mind his having any penchant for communism.
According to the left, the wholesale redistribution of wealth is in keeping with America's tradition of free market principles, and "from each according to his ability to each according to his needs" is just a restatement of the age-old American dream.
What amazes me is the total ignorance a human being has to live under in order to buy into socialism - its long history of utter failure, its inherent fatal contraditions, its sheer malevolence.
But when you have liberals believing things like "social security is still flush with cash," nothing they come up with surprises me anymore.
I think the sign above the DNC and SEIU headquarters should read, "Mundus vult decipi" - "There's a sucker born every minute."
And the RNC shoudl have a sign over its door that reads, "Totus spes ye quisnam penetro hic!" - Abandon hope all ye who enter here.
DRed| 4.14.11 @ 1:08PM
Return to Clinton era tax rates = wholesale redistribution of wealth and communism? Are you people even remotely serious?
RBlue| 4.14.11 @ 1:54PM
Show us YOU are remotely serious.
Critique the deficit speech given yesterday by the anointed one.
Frisbee| 4.14.11 @ 3:02PM
DRed: the equipment on which you wrote your post is a "tax expenditure", paid for by the Fed. Please return all your possessions and wealth to the Federal government now. It can no longer afford your expenditures.
Nunya| 4.14.11 @ 6:42PM
Grz, absolutely right, and VERY funny as well.
St Reformed| 4.14.11 @ 12:56PM
His greatest male influence after his Marxist father fled the scene was Frank Marshall Davis, a blatant card-carrying party type. His mother, a hippie type (to put it kindly), bounded from once Leftist male to another.
One of Obama's very first symbolic acts upon entering the WH was to pack up & return an Oval Office bust of Sir Winston Churchill to the British government. In Obama's worldview, Sir Winston symbolizes imperial Britain whose firmest ally is an imperial USA.
America--you elected a clever and charismatic Marxist to the WH. For that error, the price is going to be very, very high.
Nunya| 4.14.11 @ 6:46PM
St R, you're absolutely right, unfortunately there are a majority of people that don't have this information, including my father. We had a conversation on this very subject a couple of weeks ago and he was asking me how I knew this. When I said the information was available if he would just do some research on the internet, he acted as if it was not true.
TKP| 4.14.11 @ 10:07AM
Brilliant!! Discourage the very seed corn that is at the root of what generates growth.
The man for all his supposed brilliance is an ecomic idiot, no not idiot, worse, ideologigally blinded neophyte - but arrogantly so.
This can only come from a world view that assumes all economic activity eminates from the central government.
As a lifelong conservative I have alway be lukewarm to the big Wall Street money changers, aside from many of thier very liberal roots and anti competitive actions, much of what occurs in the big banks cannot be directly linked to real new job creation.
The one place that even the most anti Wall Strette of us on both left and right can agree, is that small to midsized Priviate equity firms represent the purest form of micro-capitalism. directly funding new firms that create jobs, innovation, and benefit the very "disenfranchized" that liberals and especially our self- congradultor- in- chief so publicly wring thier hands about.
cicero| 4.14.11 @ 10:56AM
:Let's look at the math that has been reported over the past several weeks. The R's forced a cut of $38b in the last round. That was on top of the previous $40b. Michelle Bachman reports that there is $107b in unspent but allocated funds from the past 20 years. The debt ceiling will not be reached until July. It seems to me that if the above are valid figures, they can attack the $107b with a simply resolution putting it back into the treasury (unspending it), which should get them thru until the new fiscal year. They can then start the real fight, starting with the defunding of Obamacare, Planned Parenthood, NPR, etc.
GENE HAUBER| 4.14.11 @ 11:23AM
THIS MONSTER CALLED OBAMA HAS TO BE IMPEACHED FOR THE SAKE OF THE COUNTRY, NO KIDDING.
Grzmlyk| 4.14.11 @ 11:31AM
Gene, that will never happen as long as the mainstream media wind is at his back.
They are not about to awaken - they are ideologues as he is, and they are doubling down on their bets for 2012.
Obama could drag a 5 year old girl into a press conference, rape her, beat her and then shoot her in the head in full view of the White House press corps, and the headlines in all the major outlets the next day would be, "GOP Smears Obama's outreach to Children."
Our mainstream media makes Pravda look like a contrarian newspaper.
Al Adab| 4.14.11 @ 11:53AM
Gosh guys, we'd have to wake Biden up to make him President. Impeachment doesn't accomplish our purpose. Senate will never have enough votes anyway. We must organize and oppose every tyrannical action and proposal of this administration lest future generations curse our names for giving them over to a long dark night of tyranny when we could fight for their, and our, Liberty.
Mike Hawk| 4.14.11 @ 11:53AM
Ain't going to happen with a Democrat Senate either. Unelect him and the Democrats in '12. Get some leadership in the GOP.
Grzmlyk| 4.14.11 @ 12:31PM
Do you honestly think it'll make any difference?
Come on - the GOP is 98% as bad as the Democrats. It's all a fucking game - a hybrid of kick the can down the road and musical chairs. As long as the Fed can still fire up the printing presses, it's prosperity here we come!
I have no hope. It is too late; we are already in collapse - we just haven't hit the bottom of the ravine yet.
As a body, we have gotten exactly the president we wanted. And we continue to choose to ignore reality and pretend the laws of economics do not exist, and that evil is actually good and good is actually evil.
We have made our bed. And we are about to lie in it.
Al Adab| 4.14.11 @ 12:45PM
Morning GRZ:
Indeed the GOP is a failure in defending our Liberty. Twice they had the chance 1980, 1994 and twice they failed us. It is only when the Conservative movement preponderates within the party that the GOP and we enjoy success. As the man onvce said, "let's grow up Conservatives we can take this party back."
Grzmlyk| 4.14.11 @ 1:22PM
Well Al Adab, once conservatives take the oath of office, their perspective changes entirely; and while a stalwart few may remain true to their principles, they are invariably swept along in tide of the only game that matters in Washington: Grabbign as much cash as you can and then handing it out to people who will get you reelected and keep you in your elite cocoon, whether they're voters, corporations, NGOs, unnions or lobbyists.
I mean, has there ever been a time of more conservative preponderance than 1980 and 1994? And yet the GOP failed to alter the post-Great Society trajectory of this country significantly AT ALL.
Now things are much worse; the nanny state has metastasized into every single part of American life and compromised every organ of productivity, destroyed every vestige of a healthy society; the cancer is robbing the healthy tissue of more nutrients every single day. This country has Stage 4 cancer.
Look at Boehner's "victory" a couple of days ago. Please. You take one penny out of your household budget and you're serious about cutting your outflow of money? This is the guy who is going to deliver fiscal sanity to the Tea Party folks?
It's not going to happen. To take another analogy from biology, Ryan's budget, while somewhat substantive, really amounts to nothing more than a band-aid on a hemorrhaging artery - and we know that even Ryan's "austerity" budget, as feckless as it ultimately is, will never really see the light of day.
We are like the cartoon character who runs over the cliff and keeps running, not yet realizing he's not on terra firma anymore - but the second he looks down - WHAM. We are living on borrowed time. Literally.
And yet, we have all agreed that we're going to keep playing the merry little tune, just as the orchestra did on the Titanic, even as it slipped below the waves.
There are no more lifeboats. Nobody is going to save us from ourselves.
It is too late. The forces of evil have won - people like VTwit, who are either lying to themselves or lying to others (it doesn't matter which) - have won the day. The basest part of human nature has prevailed. Emotion has subjugated rationality. Vanity has supplanted humility. Greed has defeated individual responsibility. Insatiable avarice has vanquished personal discipline. Decadence has undermined restraint. Just ask VTWIT; he thinks that advocating theft, and living large off of someone else's toil, makes him GOOD.
Well, they'd better enjoy their victory, and their messiah, the idiot Obama, as long as they can. But it's a pyrrhic, and very short-lived, victory - as is always the case when chaos wins over order - because we're all about to be cast into the dark, cold waters of an unforgiving ocean.
Ever read Lord of the Flies? We're ALL about to live it.
Even VTWIT.
Al Adab| 4.14.11 @ 4:19PM
GRZ:
If indeed all hope (no pun intended) is gone, then we are indeed in a tyrannical Hell of our own making. Does that imply that self-government is doomed and that the American experience is a thing of the past? If so then we have nothing to face but a new dark age of tyranny and future generations will curse our names for failing them. Shall we then, like Cato, chose death over submission? What alternatives are left if indeed ballots fail?
Nunya| 4.14.11 @ 6:56PM
Al, I have been saying for some time now--invest in silver, gold (if you can) and lead--in the form of bullets.
We have indeed gone over a cliff, we are just waiting for the inevitable effect of gravity to bring this bus to a screeching halt.
Al Adab| 4.14.11 @ 7:34PM
Nunya:
Indeed my portfolio contains all three. Be careful where you store the precious metal though as the potential for confiscation would involve a bank sweep for precious metals.
Ned| 4.14.11 @ 1:18PM
I fear you are correct Grz... and I suppose I can live with the travesty that our country has become... but when I think about the future for my sons, I truly become sick to my stomach...
Grzmlyk| 4.14.11 @ 1:39PM
Let's hope your sons please the state and never get on the wrong side of the commissar who will oversee the sector in which they toil. If they observe the speech codes, never look up from whatever job is assigned them and never take more than they absolutely require, I'm sure they'll grow up to be perfectly utilitarian cogs in the Statist Machine.
And when the cost of maintaining them exceeds their production numbers, they will disappear into the mists of "obama care," nudge, nudge, wink, wink, never to be a drag on the supreme leader's economic engine again.
After all, that is the leftist vision: We are born to serve the state and we are nothing more than property of the state.
Obama has said so himself many times, in his talk about tax cuts being a "cost" to the government. That means that all money earned in this country is really the government's.
And yet these fools still think Obama's not a Marxist.
Of course people like Obama and VTWIT - the connected ones, the Party Appartchicks - will still be free to live luxurious lives off of the backs of others - I mean, you know the way it was on Animal Farm: Sure, everybody's equal, but some are more equal than others.
Now THAT's social justice.
Larry| 4.14.11 @ 11:58AM
99% of the republicans, RINO's establishment and those endorsed by the Tea Party wouldn't have the stomach for an impeachment.
Even if such a thing did happen, can you imagine the never-ending cries of "racism" from the usual suspects as well as from the lame-stream media? It would never end and for most, it would be too much for them follow through.
Will| 4.14.11 @ 2:48PM
And it would be racism. What has Obama done that no other President hasn't done. He lied? He stole money? He cheated on his wife?
Other than his skin being a little darker than yours, what did he do that you would want to impeach this man?
I'm assuming you want answer becasue you can't other than to call him a socialist or commie or some other deragtory name.
Al Adab| 4.14.11 @ 5:17PM
Will:
His oath of office requires that he "preserve, protect, and defend the Constitution..." I would leave it to you whether or not he is foresworn. A serious misdemeanot BTW. Whether others in the past have done so is somewhat mooted by virtue of history.
Sam Levi| 4.14.11 @ 5:41PM
It's not about race, it's about Treason, but he isn't alone. I called Treason on Clinton too.
Impeach Don't Wait| 4.14.11 @ 11:17PM
Not only that... If he were impeached (and removed as a result), that would be drawing a line in the sand, saying that anybody engaging in like deeds could be similarly punished. Even Republicans don't want to go there. Too many guilty hands.
Oldefarte| 4.14.11 @ 11:59AM
John, you politely indicate that these Democrats are borderline NORMAL INDIVIDUALS, which they are not. They are instead socialists, communists, terrorists, anti-capitalists, anti-colonists, community organizers, or whatever else you wish to label them as. The point is that they don't give a rat's patoot about your/my/everyone's right to earn/make money/income, but instead their main philosophy is that said funds belongs to them, the state, the government, etc. In their worldview, we live in a shared economy where yours is mine and mine is yours, and mostly it comes down to if you make money, and they do not do so, they believe that they are owed a share of your income. Call it the Robin Hood Syndrome or whatever, that's what they believe. They are not normal, never have been and never will be; so you might as well acknowledge same in a thesis such as this. That is who we now have running our country and they have the controlled military/government to enforce their ideas upon the rest of us, if and until we can successfully replace them!!!!!!!!!!!
vtwin| 4.14.11 @ 12:12PM
"Worst of all, [referring to Paul Ryan’s so called “Deficit Reduction Plan”] even though America can't afford to invest in education, clean energy...healthcare care for seniors and poor children, we can somehow afford more than $1 trillion in new tax breaks for the WEALTHY.” --President Obama
Albert| 4.14.11 @ 12:40PM
Quoting President Bozo on economics and tax policy and expecting to be taken seriously, is proof of stupidity. Nothing Bozo said has any validity whatsoever. Governments do not "invest." They tax (e.g. steal) and they spend. There is no return on this. Fact of history. Another fact: "education, clean energy, and healthcare," are not powers delegated to the United States government, so any program involving such things is flatly unconstitutional. You need to grow up.
vtwin| 4.14.11 @ 1:18PM
Sure Governments invest in things like education, clean energy, and healthcare including the Federal Government.
Creation of the Department Education: 1867.
President Roosevelt signed into law the first bill authorizing federal expenditures to build and maintain public schools: July 14, 1941
Even Thomas Jefferson a Founding Father championed Federal Government involvement in public education.
Albert| 4.14.11 @ 1:47PM
Dept of Ed was created in 1979 and signed by Jimmy Carter. That FDR signed a bill spending money on education is not surprising and does not make it legal. Federal expenditures from that time until 1979 were in the form of "Federal Aid to Local Schools," and not a federal school system. Education is not an investment. Clean energy is not an investment. Healthcare is not an investment. Government invests nothing in these things. It spends other people's money. There is no return on investment in these programs. If there were, the government would be running a profit not a deficit. Governments have never run profits throughout recorded history. And I doubt seriously your attribution to Jefferson. You need to learn basic economics and you need to actually read and understand the US Constitution. Clearly you have no clue what you are rtalking about.
vtwin| 4.14.11 @ 4:04PM
Try “invest” as in to endow, to provide with, to give qualities, to give abilities…
Andrew Jackson in 1867 signed legislation that created the first Department of Education for the purpose of determining the state of public education in the United States. During WWII Congress appropriated funds for public school in response to large numbers of relocated defense workers, after the Soviet Union launched Sputnik Congress again appropriated funds to public schools for Math and Science curriculum. Yes, Jimmy Carter signed legislation that created the modern Department of Education.
"If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be." -- Thomas Jefferson
“Every child is entitled to three years of instruction in reading, writing, and arithmetic” -- notes on the State of Virginia 1885 Thomas Jefferson
Albert| 4.14.11 @ 4:41PM
Again, just because Congress does it does not make it constitutional. As for Jefferson's comments, these apply to the State of Virginia, not to the United States. And your usage of "invest" is not applicable to economics. By the way, when Sputnik flew in the 1950's, public education (operated by individual States) was far superior to what passes for education now. By your own usage of "invest" public schools are collossal failures. They convey none of the qualities you describe, substituting politics for knowledge and psychology for academics. Pupils today are "endowed" with ignorance and conformity, and it is your heroes who are doing it.
Nunya| 4.14.11 @ 7:04PM
Andrew Jackson signed legislation in 1867?? Really??
Being that he was President from 1829-1837, I would say that would be an interesting problem. I presume you mean Andrew Johnson?
The Bruce| 4.15.11 @ 1:36AM
Vtwit, 1885? Thomas Jefferson died in 1826.
You're a shining example of why the Department of Education is an utter failure.
Butch | 4.14.11 @ 3:40PM
1867.
Vtwin is a prime example of the return of federal "investment" in education.
Albert| 4.14.11 @ 4:45PM
By the way Mr. Twin, I have a quote that is as applicable and relevant to our current economic situation as anything President Bozo has said:
"Someday my Prince will come!"
(Snow White)
Grzmlyk| 4.14.11 @ 12:43PM
Hey rapist:
Aren't you a little late slithering out from under your rock today?
What happened - a Cub Scout come to your door and you had to take care of business?
Do you actually believe the crap you spout, or does being a pathological criminal just turn everything in your little head upside down?
Enquiring minds want to get into the mind of a rapist.
vtwin| 4.14.11 @ 1:21PM
Actually it was your mother but I did “take care of business.”
Grzmlyk| 4.14.11 @ 3:07PM
Holy head rush, Bat Man, that was such a grown-up riposte!
ZZZZZING!!!! You got me!!!
Oh, the wit! Oh the intellectual acuity!
Come on, moron. Even a cretin like you can do better than that.
I'll give you a mulligan.
vtwin| 4.14.11 @ 4:08PM
I was expecting your response to be your mother was dead. And, I was going to agree.
Grzmlyk| 4.14.11 @ 4:13PM
Again with the wit!
That's HATE SPEECH!
The rapist is engaging in HATE SPEECH!
I am outraged and offended! I'm a victim!
WHAAAAAA! My constitutional right never to be offended has been breached!!
Somebody owes me $100 million for my pain.
Fork it over, hypocrite rapist.
You live beyond your means anyway.
When are you going to put your money where your prodigious mouth is?
mames| 4.14.11 @ 1:58PM
I learned the hard way - ignore it and it will go away.
The Bruce| 4.15.11 @ 1:39AM
Sometimes it's just fun to scratch that itch.
Fredrick Ward| 4.19.11 @ 4:28PM
While vitwin is always good for an easy laugh it is also frightening to think he is an example of some of our youth that the wonderful department of education is spitting out these days.
Oldefarte| 4.14.11 @ 5:05PM
The wealthy ''''''EARNED'''''' that money, it's theirs, and same is traditionally STOLEN by the government. The government does not have a RIGHT to same. The government does not produce/sell anything and is therefore unproductive/worthless. It obtains its funding/revenues from the taxiation/theft of income so earned by these income producers through their hard earned efforts. The indigent beneficiaries of governmental welfare paid for by income earners do not have a right to same, and need to get off their lazy backsides and earn their own income/benefits in life. This country is a CAPITALISTIC one, not a COMMUNISTIC or SOCIALISTIC one!!!!!!!!!
Oldefarte| 4.14.11 @ 5:08PM
Vtwin: You obviously are totally ignorant of the true meaning of '''''investment'''''', and same has nothing to do with PUBLIC spending of taxpayers' money on welfare. It is a term used to describe private investors' ability to use their own money/funds for profit purposes, dummy!!!!!
Richard H. Davis| 4.14.11 @ 12:35PM
Still trying to protect the Koch brothers??? Income is income is income. There's nothing magic about running a hedge fund that should make your income special, but it will still be special and taxed at only a 15% rate. You are distorting repeal of the Bush tax cuts to include all of the tax loopholes that should be fixed but won't be just by repealing the Bush tax cuts. You are correct in saying that there is no asset threshold, but there is an income threshold. You are cleverly misleading people by saying what they expect to hear instead of what is true.
William Hoy| 4.14.11 @ 12:41PM
I've got things named Craftsman that are smarter than the Obama administration. The best we can hope for is that they don't do irreparable harm to the country before they can be voted out of office. Oh, wait. Too late.
Richard H. Davis| 4.14.11 @ 12:52PM
Rereading what Obama said, your interpretation of the changes that he requested, or implied that he wanted, are probably closer to what you said than what I said. Nevertheless, for me income is income, and hedge fund managers don't deserve different or better treatment than carpenters. In my opinion.
Will| 4.14.11 @ 1:09PM
Do we really have to pay $500 BILLION dollars every year forthe next 10 years to CHINA to pay for the BUSH TAX CUTS?
The Bruce| 4.15.11 @ 1:43AM
No, we have to pay $500B every year for Bush and Obama's SPENDING.
Government revenues rose after those tax cuts. It's all the extra spending that went along with it (and surpassed it) that's killing us now.
I think the Bush Derangement Syndrome is getting tired, don't you?
Larry| 4.14.11 @ 1:31PM
Regime change!!
john dubose| 4.14.11 @ 1:39PM
There is this little thing called the Lafer Curve. It exists. It is overwhelming. It says that the actual real revenue collectable by the Federal Government is basically maxed out RIGHT NOW.
Taxing the "rich" or anyone else more may make the core groups of the Dem party happy, but will simply squeeze the total economy.
That needs to be stated loud and long.
Dixie Pixie| 4.14.11 @ 1:58PM
Greetings John
It is even worse that that.
Overspending has gotten so out of hand that it will take taxing 100% of all income to cover the debt.
Steve A| 4.14.11 @ 1:39PM
Will, Really? Are you seriously that dense? "Pay for the Bush tax cuts." Let's just take a look at that statement.
Pay who for the Bush tax cuts? Who do we "pay" or owe for the Bush tax cuts? What in the hell are you talking about? If I make 500K & get to keep more of the $$ that I earned & use it how I see fit, just exactly who in the hell do I "owe" the Bush tax cut to?? Please clarify for me.
DRed| 4.14.11 @ 1:46PM
The problem with the Bush tax cuts is not that he cut taxes, it's that he kept spending (remember 'Deficits don't matter'). That's what we have to pay for.
RBlue| 4.14.11 @ 2:02PM
Show us YOU are remotely serious.
Comment on the fact in 2007, the second to last year of the Bush presidency, and last year of republican house control before Pelosi and the democrats took the house, the budget deficit for the entire year was 161 billion, while the deficit this past February alone was 223 billion.
Will| 4.14.11 @ 2:31PM
You want me to show YOU that I'm serious by fighting on your terms? Show me your not drinking the Republican Kool-Aid by showing me the jobs that were created with the BILLIONS of dollars in tax cuts that MY children will have to pay off.
Steve A| 4.14.11 @ 2:42PM
Will, I own a small business with 6 employees.
If you consider all of the taxes I currently pay: Federal, State, County, Fuel, Phone, Property, Employer, Sales, VA Car Tax & on & on & on, when I wake up on January 1st, I work to AT LEAST July to pay taxes so people like you can piss it away & then call me an extremist. You sir, are a complete & utter fool. You have been deluded into believing a lie to make yourself feel good.
I am perfectly fine with paying a ton of taxes but there comes a point where enough is enough. If you jack my taxes, do you think I can go out & hire another person? can I give my staff a raise? I am the one creating jobs, not this community agitator in-chief. This guy has no clue what makes the private sector tick.
As for your kids, I feel your pain, I have 3 under 16. Do you think I want to hand them the bill for all of your b*****it social welfare programs that fail? Think again. You are creating slaves, not me.
RBlue| 4.14.11 @ 2:44PM
Always suspected Will The Fag And DRed were one and the same.
What is the unemployment rate now after all the liar-in-chief's stimulus and investment spending?
What was the unemployment rate after 'billions' of taxes were cut under Bush?
And, shit for brains, the Bush tax cuts resulted in a net tax revenue INCREASE, one where the top income earners paid a greater share of overall tax revenue than they did before the tax cuts.
RBlue| 4.14.11 @ 4:05PM
DRed and/or limp wristed Will sure slunk back under their/the bridge in a hurry...
...I think I hear crickets chirping...
"When you wish upon a socialist
makes no difference who you are
anything your heart desires
will come to you"
By Jiminy!
DRed| 4.14.11 @ 6:17PM
When Bush took office the unemployment rate was somewhere around 4%. 8 years later, when he left, it had almost doubled. In between, private sector jobs grew at their lowest rates since the great depression. To put in boorish terms you would be comfortable with, W was a total fucking catastrophe.
RBlue| 4.14.11 @ 9:35PM
You still have not addressed:
2007 entire year Bush deficit 161 billion
2011 february only Obama deficit 223 billion
By almost doubling unemployment you mean to around 6% with the cause being the impending housing bubble created by Carter enacting CRA and Clinton extorting financial institutions with CRA which Bush publicly warned about all 8 years in office including 17 separate times in the last year in office alone?
You are a stupid liar just like our current president.
And you still have not critiqued yesterdays deficit speech by NoShameAhUhUhUhAh.
DRed| 4.15.11 @ 1:05AM
No, I mean doubling unemployment. In January 2001 the unemployment rate was 4.7% percent. 8 years later, after W and his job creating tax cuts it was 9.7%. Obviously, the solution is to create more jobs by cutting taxes further, right? I mean, that's just pure logic.
Your defense of W and his actions concerning the real estate bubble really highlight how pathetic his presidency was. Let's pretend that you're right about the CRA being the proximate cause of the real estate bubble (setting aside the fact that in the real world, loans covered by the CRA weren't, in any way, responsible for the great majority of the loans that were defaulted on). W takes office and knows that there's an impending crisis. For 6 of those years, his party commanded both houses of congress. And what does he do? He warns us about it. Does he actually do anything? No. And then in 2008, after the housing bubble had already burst, he mentions it 17 times. Wow. (actually, he didn't mention it 17 times in 2008, but that's another story)
RBlue| 4.15.11 @ 1:17PM
Now continue your analysis from January 2009 through April 14, 2011.
Your analysis reveals how important it is the readers here need an analysis based on true logic of the kind you are able to provide on the Obama deficit speech two days ago.
Please.
If you could work in some analysis on the 2007 deficit of 161 billion relative to the February 2011 deficit of 223 billion it would really help a lot.
Thank you in advance.
Steve A| 4.14.11 @ 2:18PM
DRed, No, we actually do not "have to pay for it." We can, repeat after me, REDUCE SPENDING. Yes, Bush was irresponsible on fiscal issues. Yes, Obama is much worse. Are you happy now?
You & those like you are like the 21 yo who goes to college with Daddys Credit Card. You run up the max to 20K & have the balls to complain when Dad wants the card back. The interest alone is $340 / month. Dad tells you no more limo dates, nail salons & Outback Steakhouse. Tells you to get a part time freakin job & pay $200 towards the $20,000 principal & you throw a hissy fit.
Will| 4.14.11 @ 2:36PM
No the problem is not that we cut revenues and now we have a defict. Tax cuts pay for themselves, the problem is we are still waiting for them to pay for themselves.
The Bruce| 4.15.11 @ 1:52AM
Cut revenues? Are you serious? Probably, but that's because you're apparently too lazy to look at the numbers yourself. There right there for you to see. Revenues were at record levels under Bush.
The problem is he pissed it away with a lot of new spending. And this administrations spending? I think he's hell bent on destroying the country.
The Bruce| 4.15.11 @ 1:49AM
DRed, I agree. And when Cheney said deficits don't matter, I wanted to slap the shit out of him.
During Bush's eight years we racked up $5T in debt. With Obama, we racked up $5T in just two years. Why is it you seem to lack the intellectual honesty to admit that Obama's deficits make Bush's like a cake walk (not that I'm giving Bush a pass at all).
You consistently point the finger at Bush, while ignoring the outrageous deficits of the current administration.
DRed| 4.15.11 @ 1:57PM
By the time Obama became president massive budget deficits were unavoidable. We were entering the worst economic crisis since the great depression. Is the deficit much higher now? Well yes, obviously. I'm not denying that. But I'm not sure how you think there wouldn't be massive deficits under a different administration.
RBlue| 4.17.11 @ 1:00PM
Spending over 800 billion to repay and/or buy votes from public unions and other democratic strongholds under the transparently fraudulent guise of economic stimulus was unavoidable?
Vastly expanding government bureaucracy in a time of economic crisis was unavoidable?
Under Carter interest rates hovered around 20%, inflation hovered at 15%, and unemployment over 10%, but you can definitively state the recent crisis was the worst since the depression?
There's a reason why you are never taken seriously.
Will| 4.14.11 @ 2:41PM
"Who do we "pay" or owe for the Bush tax cuts?"
CHINA you idiot... We had to BORROW money to give those tax cuts... So now we owe CHINA plus interest... Are you really that stupid?
Butch | 4.14.11 @ 3:50PM
Will, you're in somewhat over your head here. Suggest you ask for a troll reassignment--perhaps to Mad Online.
Larry| 4.14.11 @ 1:47PM
Will, you need to move to Cuba, Venezuela or some other workers' paradise. Please get out of my country as soon as possible.
Immortal 600| 4.14.11 @ 2:18PM
That guy appears to be dumb as a rock. He is here just to troll.
Immortal 600| 4.14.11 @ 2:27PM
That also applies to the other troller vtwin
Will| 4.14.11 @ 2:39PM
Who's the dummy here? We cut taxes during a time of war for the 1st time in our history and now we have huge debts because the tax cuts nor the wars were paid for but I'm the dummy? Um, Ok... I beleive in the bible and we ALL reap what we sow...
Immortal 600| 4.14.11 @ 2:48PM
Yeah, you are the dummy because you have no clue as to the relationship between tax cuts and tax receipts. How many times must it be shown that cutting rates increases overall revenues? Do you pay any attention????? Also the wars are NOT the primary drivers of the debt. The increase in 2 trillion dollars (per year) of spending in just the last two years have very little to do with the wars. Do you pay ANY attention at all?????
Immortal 600| 4.14.11 @ 2:50PM
OK, let me back up and be nice.........I apologize for calling you a dummy........Have a good day, Will
BillS| 4.14.11 @ 2:01PM
Greg Gutfeld hit the nail on the head when he gave the President a “B” for BRAZEN during the recent 2011 budget negotiations. I had never seen more shameless, arrogant, elitist, petulant and narcissistic behavior than his late night victory dance and pontification at the Lincoln memorial the next day until his performance last night. I hope the American public have not been so dumbed down by years of an education system taken over by the liberals, that they cannot see the emperor has no clothes.
The Bruce| 4.15.11 @ 2:01AM
Bill: Until yesterday, Jimmy Carter's "Malaise" speech held that all-time honor. I'm sure he'll be pleased to know that he's been outdone by Obama.
Wally| 4.14.11 @ 2:50PM
Yeah, let's continue to cut taxes for the VCs and arbitrageurs and derivatives bundlers, cause when those guys stole all our money the last 5 years, they created so many jobs. What part about high taxes and prosperity from 1940 to 2000 do you not understand here? What part about low taxes with war creating a horrible economy from 2000-2011 do you not understand?
Why are conservatives so whiney? "I don't wanna pay taxes, mommy!" Just man up and contribute to a modern society that has a high tech society with a functioning government that provides infrastructure, basic research, education and prevents massive third world level poverty. You guys want low taxes and no regulations and no safety nets? Move to Haiti or Somalia. The rich do just great there - it is everyone else that is screwed.
Immortal 600| 4.14.11 @ 2:56PM
Despite the wars having gone on for better than 6 years, the last time Republicans had control of Congress, the deficit was under 200 billion for the year (07). What's the explanation since the Democrats have taken over?
Wally| 4.14.11 @ 4:54PM
Who gives a crap which party holds which house? The profligate spending and useless tax cutting started under Reagan and it slowed down a bit under Bush I and Clinton but just exploded under Bush II. The economy tanked during that time. Twice. The movement toward the lowest taxes for the super rich (you know the arbitrageuers who stole our money) is pushed by wacky pro superrich websites like this one. And Fox. And Limbaugh.
And who cares who started the wars? They are completely useless to the American people except to the military industrial complex. And we borrowed money to pay for them.
End the wars. Invest in education and infrastructure (including environmental infrastructure) and just quit the me me me thing of complaining about paying taxes and claiming its communist. What BS. Pulling your weight is what citizens and governments do to have a modern functioning society - pay your share, build society and avoid having libertarian wet dream like Haiti or Somalia. God, what whiners here.
Steve A| 4.14.11 @ 2:56PM
Wally, Government Spending & Social Justice Affordable Housing. Look it up & maybe factor that into your E=MC2 genius formula.
Melivn| 4.14.11 @ 3:01PM
My opinion may be a bit crude and off the cuff, but to hell with both political parties. They're both chock full of lying, scheming, self-serving SOB's.
As with most of us, unless your Timothy F. Geithner, who is the head of that pack of Corporate Financial Weasels who feel it is only the little guy who should pay his taxes group, most of us have had to write a check to the IRS again this year.
As for John Boehner, I'm going to take a first step to, and guess where the second step is going to be? It is going to be dead centered in your backside, as you get kicked of the Speaker Chair.
There one thing worse that I hate worse than a lying Democrat and that is a Lying Country Club Blue Blood Republican.
lez sohbet | 4.14.11 @ 4:42PM
very nice blog admin
Willy| 4.14.11 @ 5:03PM
Anyone who is surprised by Obama's "solution" to our deficit problem has not been paying attention for the past two+ years. I find it to be unbelievable that the same guy who has spent us into crisis now, with a straight face, tells us that we must control spending. Of course, his solution isn't to cut spending at all. He simply wants to pursue the Left's objective to grow government(controlled by them) and redistribute income and wealth. They are almost there. When fewer than half of voters pay any income taxes, but who receive many untaxed benefits from the system, who will they vote for?
Lagiusmeatius| 4.14.11 @ 5:17PM
I am extremely disappointed with President Obama and his failure to deliver certain promises he campaigned on. Any surprises there? Nope. I've been disappointed with the so-called "promises" from the past several administrations. However, I'm also disappointed with the number of filibusters from the Republicans during this administration. How many has it been? 112 or so back in 2009...more in one year than any other time in history. More than in any year during the depression, or even WWII! It's a great way to blame the party in power for "not getting anything done". This goes both ways, regardless of who is in power. Filibusters are one of the most childish methods for implementing obstructionism. It does not matter to me which party is the majority, obstruction is obstruction. The majority parties that were voted in by the people should have the authority to pass legislation, thereby representing the majority of voters, period. Whatever happened to true democracy (i.e. 51/49 majority rules, none of this 60/40 bulls#!+). Whenever Republicans have the majority, I expect the same fairness, where 51/49 votes seal the deal, plain and simple. This abuse of the filibuster is unprecedented and threatens whatever amount of democracy we still have. I am a small business capitalist, and I believe that if an entrepreneur wants to use their talent, providing goods and services that people want, they should be able to make a nice living doing so. However, our founding fathers, in my opinion would be rolling over in their graves if they knew that their democracy had turned into the corporatocracy we see before us today. Corporations own the politicians, both the left and the right. Corporations' lobbyists further influence the legislation passed with campaign donations, and/or by also serving in the legislative branch (or serving in the executive or judicial branch for that matter). For this reason and many more, I am an anti-corporate-capitalist. I believe that people should strive for success, and have some incentives for doing so, but the distribution of wealth and power have gotten far out of hand--far out of where it was back during the time of our founding fathers. John Hancock, the richest of all the founders, was worth about $750,000 in today's dollars. What do we have now? We have a current average middle class salary of $45K a year, and how much are the elites making for their labor? $250K ? Naahhhh....more like MILLIONS of dollar per year. This distribution of wealth and the average income of the middle class started to improve considerably after the great depression and even continued to improve up through WWII. Take a look at the numbers. The proportion of households earning between 75 and 125 percent of the median income have fallen steadily since about 1967. After the Reagan and Bush administrations (I and II), this has only worsened, where the middle class is being pinched further and further. Is it really "American" to strive for wealth and riches far beyond what is needed to live in "luxury"? Where are our principles of what is truly important, such as family, friends, health, hobbies -- things that create true happiness? Why has materialism, greed, and contempt for the middle class worker replaced the more selfless ideas of our founding fathers? I for one am sick of seeing how the world has turned. The gross level of consumerism, waste, and greed that has clouded the judgment of so many people. Worse yet, this corporatocracy has infiltrated our political and economic system, where now we vote for the lesser of two evils with the illusion of "choice" when in fact its really a combination of a popularity contest and/or who has the biggest campaign budget? What we need is a return back to old ideals, where Ma and Pa businesses are once again on top rather than consolidated gigantic global corporations, return to a time where honest hard working Americans are given the priorities over the desires of the politicians. We need serious campaign reform, where campaigns are publicly funded EQUALLY for all candidates. Those candidates can spend their share any way they choose, but the fact is, people will have a better chance of winning based on their political positions, not on their pocketbook. This would be a start.
Lets lose the priority of materialism and greed, and replace it with love towards your neighbors, love and time with your family. If you have your basic needs met (i.e. food, clothing, shelter), then quit bitching and help others that don't have those needs. Spend time doing activities that you love, enjoying life in general with your family and friends, rather than living a lie based on materialism and social status. This is what I see as a true patriotic American. Asking "What can I do for others?", rather than "What about me?".
How about applying the golden rule worldwide, and eliminate our dependence on exploiting other 2nd and 3rd world nations for resources like oil, metals, etc., so our children actually have a chance to continue the positive change in this world. Keep the smiles going guys, and pay it forward.
Peace and love to you all,
-Lagius
Ken (Old Texican)| 4.14.11 @ 6:29PM
Hey, Lagius
I can always tell when someone is fatally stupid. Heh, like you, they only have paragraph breaks when they need to go pee.
Hey Grz
I'm getting a little tired of your "woe is us" crap. You are a very smart man. Down here in Texas we have a saying: "You just got to know who to shoot, and when to shoot him."
If fifty million of us can't defeat, (or shoot), 600 ruling elites, then we ought to be ashamed. George Washington would be ashamed of us.
.....timing is everything. Keep your powder dry.
Lagiusmeatius| 4.15.11 @ 8:58AM
Ken (Old Texican),
Thank you for the constructive criticism and the name calling. Very mature, and very productive. The only reasoning for your name calling is my use of paragraph breaks? What impeccable logic! I can see that you were far from just "grasping for straws" on this rebuttal. I choose to apply the golden rule and refrain from name calling. I also choose to start a paragraph break here to restate my previous point of most importance (and to humor you).
How about applying the golden rule?
Peace and love to you Ken (Old Texican),
-Lagius
blackknights1802| 4.14.11 @ 8:11PM
This just in folks, $38 billion turns out to be $350 million? This, according to the CBO. This guy needs to be impeached, along with the rest of the phonies in congress.
Rick| 4.14.11 @ 11:24PM
Your a rasist!
Larry| 4.14.11 @ 11:30PM
All discussions about loopholes, tax hikes, capital gains rates vs. ordinary income rates are just window dressing until someone in control addresses the fundamental problem: what kind of tax system should we have? Barack Obama answered that question in his speech yesterday - tax the rich, tax the rich, tax the rich. Grow government even more. Punish the creation of wealth. That is his philosophy. He is NOT the agent of change - he is the agent of the status quo and of pushing the status quo even further into hock.
Obviously, I don't want what Barack Obama wants. He needs to go in 2012. He is the enemy of what America should really be about.
Lagiusmeatius| 4.15.11 @ 9:52AM
Hello Larry,
Don't get me wrong, I don't like Obama, nor the last several administrations for that matter. But...really? Obama is the "agent of the status quo..."?
Is this true considering that the previous administration CUT taxes for the rich, and the current administration wants to RAISE taxes for the rich? How is this "the status quo" exactly? Perhaps you mean that because Obama re-instated the expired "Bush tax cuts", that he is keeping the status quo (i.e. trying to keep what Bush had in place)? I'm also interested in hearing what you think "America should really be about". What are your thoughts? What are your ideas for fixing the current distribution of wealth that is consistently shifting from the middle class (majority of voters) to the wealthy class (minority of voters)? Or do you see the corporatocracy that has replaced our democracy as something that shouldn't be fixed? It's ok if we have philosophical differences Larry, but I just want to hear your thoughts on the matter. I for one saw the bailout (first proposed by Bush II and finally implemented under Obama) as a needless government intervention, which, as its implementation was "unregulated", further benefited the banks and some of the wealthy and left the middle class to rot some more. Do you like the way the nation is heading? Where the corporations are continually increasing their influence on government, thereby negating the governments primary purpose (to serve us, not the other way around). Corporations, more so global corporations, are the reason for so many of our problems. They've already infiltrated our campaign budgets, most of our politicians pockets (on both sides), our media, etc. What are your thoughts Larry? Should we let the corporations continue to have their way, or take this country back for the majority? Should we continue to live under the false premise that we have a "choice" during an election? Or should we realize that campaign advertising, and other monetary advantages given by the wealthy and by corporations to those politicians is eliminating true democracy (and has for years)? The current system, which is only getting worse, has given us the "choice" to vote for the lesser of two evils, rather than a person who truly represents the majority's best interests. The constitution and other fundamental principles have been replaced by a corporate-owned-government and law that is no longer intended to serve the people. What are your thought on this?
Peace and love to you Larry,
-Lagius
bill57| 4.15.11 @ 9:58AM
Why no numbers on the Obama tax hikes? How are we to make an informed decision with the most important part of the policy being left out by the writer? Maybe we are just supposed to be against anything Pres. Obama wants? Come on! We're big kids. We can handle information and then decide what to support.
Dee See| 4.15.11 @ 11:09PM
No address of the criminal Fed. No call for
abolition, or even an audit.
No mention of the 1.2 quadrillion in FAKE
derivatives that can never be paid off.
No mention of defaulting on the outrageous
debts to the U.S, taxpayer funded and created
RED Chinese 'miracle'.
No mention of tariffs on slave labor wampum
which continues to flood our country.
No mention of monitoring and taxing those
exploiting underpaid ILLEGAL immmigrants
in an econopmy with real unemployment
certainly over 20%.
NO mention of taking away the untouchable,
TAX FREE status from the Luciferian (Social
Darwinist) ---EUGENICS fomenting capstone
'benny violent' foundations ---or their richly
earned prosecution for capital crimes.
NOT A PEEP
Still think HUAC meets NUREMBERG 2012
isn't called for? REALLY?
LOL
William Lira| 4.16.11 @ 8:55AM
At the time, about a dozen people paid the top rate. NOW the top rate is paid by MILLIONS of Americans so changes to it have a HUGE impact.
http://www.articlespeak.com/ba.....best-deals
jackc| 4.29.11 @ 4:55PM
Cancerous policies and leadership are shaping the demise of America - the once-promised land on earth.
Chief architect and collaborators: Obama, his henchmen, unions, free-loaders, attitude of entitlement, broadcast media, laziness, and power-hungry career charlatans a.k.a politicians, with sound bites that masquerade as welfare.
Fire Obama.
Hire Trumph - a new business model to revive, recover, and re-build America into a land of boundless opportunity, where success is rewarded, education is relentlessly pursued, failure is abandoned, zero tax, minimum and smart regulation, all public services rendered for itemized fees instead of a tax, and government reduced to a non-interfering referee.
Creative Recreation | 8.10.11 @ 10:17PM
is good