No, the reality check is 700 Billion dollars of spreading the wealth to, Bear Sterns, Goldman Sachs, and other big time financial coporations whose CEOs are making 20 million a year.
No, the reality check is 700 Billion dollars of spreading the wealth to, Bear Sterns, Goldman Sachs, and other big time financial coporations whose CEOs are making 20 million a year. Now you are as smart as they come on this board, how do you suspect we as taxpayers are going to pay for that? I had a moment of clarity and anger the other morning watching the news on the bailout, you may even call it a conservative moment, lol. I said to myself, If I make bad finance decision, leveraging shyt thats not worth shty and create a bunch of derivatives to keep myself afloat. Who the hell will come and bail me out? But we have guys making 40 million or more a year and they get to keep everything.
It is a reality check. And it came from a republican president and several republican congressmen signed on to it. I don't pretend that it does not go in the face of conservatism, it absolutely does. But you cannot argue that it does not coincide with liberal, entitlement economic policies. The fact that republicans changed their spots, does not make it conservative. But continuing to point to the bailout does not distract from Obama's stated intentions of spreading the wealth by raising taxes on a significant part of our tax payers. Not only the guys that pay the most tax $, but the guys that actually give lower income workers their jobs. I work with a great many small businesses. Restaurants, wine shops, etc. They are bracing for hard times. They will not only not expand, they will cut back, and that means further losses of jobs, and tax revenue. It really is quite simple. Despite what anyone on tv tells you, these guys are gonna get walloped right over the head.
I couldn't agree with you more on the anger over the bailout. What a crappy piece of legislation, however, we have to be careful to not try to make a point at the expense of the American people. That is, do we not do the bailout and let the economy flounder to a point where people lose jobs, homes, livelihoods etc., or do we pass the bill and try to prevent some of that stuff. I think the Dems did a good job of getting necessary clauses into the bailout with respect to limiting executive compensation and the manner in which the corporations would have to adhere to the requirements the feds set on them due to the bailout. My opinion is that we had to do something to loosen the lending in this country even though it was bailing these guys out. But now, the rules have changed. Now CEO compensation is no longer off limits for the government, regulation is necessary, and the government will take a bigger role in business for a time while we straighten this all out. They had their chance, we're bailing them out but it will be on our terms. Is the legislation perfect? No. But I feel like it had to happen and we have to run it in the best way we can. I also am not 100% on this and can be swayed, although it doesn't really matter anyway.
So he was lying when he said 90% of small businesses wouldnt be affected by it? Im having a hard time buying into your significant part of our tax payers argument, when the signifcant part of the countrys tax payers are in the middle class and they make less than 250k a year. I think my point of asking you about how do we pay for the bailout plan(along with the reducing the deficit), has to do with OBamas tax plan on the issue of raising taxes. Quick question, has there ever been a president that has balanced the budget without raising taxes?
90% of small businesses? I don't know what the exact numbers are(it is up for debate), but the actual businesses that do have receipts over $250k(doesn't mean the owner actually made that), will get popped. It is clear as day in his tax plan and he has admitted it. Obviously he downplays Joe the plumber and talks about guys like Buffet and Gates, but they are not the majority. The dems love to talk about the number of people that pay tax, and not the actual tax $ paid. If you want to see who really pays the tax $, look here. http://www.taxfoundation.org/blog/show/341.html And if you want to know how Bush's tax cuts stack up against the great democrat JFK, look below, because it's eye popping. http://www.taxfoundation.org/news/show/323.html I am just not a fan of more taxes on this segment of society. Some loop holes should be closed for the super wealthy that effectively evade some taxes, but it ain't Joe the plumber that is doing this. He is just cutting back, on expansion and jobs. It would hurt us in a regular economy. In our current recessionary one? Disaster, IMO.
NBA players will "earn" (earn if you're liberal...steal if you're conservative) nearly 2 BILLION dollars for this season. According to many liberal and/or democrat standards...that's just too damn much. This automatically places them into the greedy, overpaid, lazy people category therefore according to Obama...so we should take immediate action to strip their wealth and redistribute it to the "poor". I agree! Let's start immediately. I'm just tired of the "rich" and/or "wealthy" being painted as this small, lazy group of CEOs who NEVER contribute to success in America. Let's not forget the professional athletes, actors, musicians, and yes...POLITICIANS!...who also make tons of money. For some reason these people "earn" their income but business owners don't. How many people do those athletes, actors, musicians, and politicians employ compared to business owners? I'm sure it's only a fraction and most of those are probably servants who would fall under the category of "poor". Maybe if these people were paid more by the people they serve, we wouldn't have to cover their burden as a government expense. Just my two cents...
Okay, this is totally off topic but I thought it was scary hilarious. Just saw on the news that 7-Eleven predicted the popular vote almost exactly the last two elections, by tracking coffee cups. Has anyone else seen this? Apparently Obama is well ahead of McCain in coffee cups sold, so I guess we can call the election now? :lol:
What about football and baseball players if you want to get into who is stealing and earning their money among professional athletes. NBA players play 82 regular season games, plus more if the make the playoffs. Im a little sensitive about NBA players so excuse me if I seem bias. Alot of professional athletes do own small business that employs people. So you cant seperate the two, alot of these people own small business. my uncle owns 2 business, 1 of which employs over 200 people. You know what he did, he sent the max contribution to Obama, regardless of his income and tax bracket.
