published Tuesday, August 2nd, 2011

The Debt Deal

about Clay Bennett...

The son of a career army officer, Bennett led a nomadic life, attending ten different schools before graduating in 1980 from the University of North Alabama with degrees in Art and History. After brief stints as a staff artist at the Pittsburgh Post-Gazette and the Fayetteville (NC) Times, he went on to serve as the editorial cartoonist for the St. Petersburg Times (1981-1994) and The Christian Science Monitor (1997-2007), before joining the staff of the ...

85
Comments do not represent the opinions of the Chattanooga Times Free Press, nor does it review every comment. Profanities, slurs and libelous remarks are prohibited. For more information you can view our Terms & Conditions and/or Ethics policy.
librul said...

Know taxes on the rich and cessation or wars, know peace. No taxes on the rich and cessation of wars, no peace.

August 2, 2011 at 12:28 a.m.
nucanuck said...

The debt deal is as phoney as a $3 bill. This was political theater for the masses, nothing more.

The entrenched interests, banks, corporations and DC government, are all doing well while America sinks lower and lower. Everyone knows more debt is not the answer, but neither do we know what will work.

As Clay points out, when the suffering is not shared equally, when there is a sense of unfairness, entropy may not be far behind.

August 2, 2011 at 1:55 a.m.
AndrewLohr said...

We know what does not work: the "stimulus" (moving money from one place to another). We know what does not work: the Federal Reserve, under which we got into this mess. We know what does not work: central planning--the USSR lost the Cold War. We know what does not help the poor: paying them to be poor. We know what does not help the sick: paying them to be sick. Social Security is broke, Medicare is broke, D.C. is broke.

And we do know what does work: competition, forcing businesses to keep customers happy. This forces cars, restaurants, and businesses in general to keep improving--if they don't, their customers and their money go elsewhere. But government gets paid by taxes whether its customers are happy or not. So we need to shrink the tax-paid sector and enlarge the competitive-earning sector. My Boss is a libertarian carpenter.

August 2, 2011 at 6:14 a.m.
woody said...

I think I'll leave all the 'crowing' to the roosters..

I believe I'll leave all the 'nit-picking' to those who pick nits the best..

All that leaves for me is to say is, I'm glad all the excess rhetoric and political posturing is concluded (at least temporarily) and we can get back to what is really important..surviving from day-to-day..Woody

August 2, 2011 at 6:19 a.m.
hambone said...

I sure am glad the "job creaters" didn't get their taxes raised.

Now I hope the "DEMAND CREATERS" can get a JOB!

August 2, 2011 at 6:43 a.m.
MTJohn said...

Andrew - what would Amos say?

August 2, 2011 at 6:55 a.m.
fairmon said...

States depend on the federal government for between 30-40% of their budget, why? The federal government has expanded their power my manipulating the states through various schemes. Grants and matching funds programs are federal initiatives to gain state compliance with what the federal government wants the states to do. The same happens at the local levels across the country.

Social security is OK for at least 20 years based on current revenue and projections. Medicare is broke and getting broker. The bill just passed does nothing to fix the medicare problem.

Foreign buying of American companies and depressed real estate is a threat no one is talking about. Miami real estate will soon see over 50% of their real estate being held by foreign owners.

A good but unlikely rule in congress would be no legislation will be passed and no new spending approved that does not increase employment opportunities through increased demand for American made products.

August 2, 2011 at 8:17 a.m.

MTJohn - good point. Amos offers piercing challenges those who exploit the poor. When you look at the results of the War on Poverty and the policies that seek to resurrect or nurture it, it would be difficult limit the indictment to one political party or viewpoint.

Andrew - Your points are well-taken, and they come closer to what the empirical data and common sense point to, in terms of what works in bringing greater prosperity to larger numbers of people. But, as always, you lost me with the last sentence. Reliable records indicate that the carpenter consistently refuses be co-opted for political agendas, market shrines, or ideological panaceas. If he can’t challenge your faith in free markets, he’s a different guy than the one whose kingdom is not of this world.

August 2, 2011 at 8:25 a.m.
limric said...

Great cartoon. Lousy deal.

Something in the deal that was well hidden and the media either did not notice or don’t want to report is a little financial gambit known as the “U.S. Federal Revenue Transaction Enhancement.” This “Transaction Enhancer” is a hidden tax that will raise revenues by 10% starting in 2013.

This is actually a tax on taxes. The amount of money that we pay in taxes will increase by 10% immediately. All sales taxes, property taxes, dog registrations, even taxes on Lady Gaga CD’s. The Federal Revenue Transaction Enhancer automatically adds 10% to any tax the consumer pays, then adds 10% to the previous tax, and then another 5 percent to that tax. This continues onto the final penny, which is then rounded up. – Of course!

For example, if an iPod costs $100 and the state sales tax is 10%, the customer pays $10 in taxes. The Transaction Enhancer then puts a 10% tax on that $10, which is $1. The $1 is then taxed at 10% again, or $0.10, and that dime is then taxed a penny.

“This is a very fair and honest way to raise revenue,” said majority leader Eric Cantnor. Someone’s gotta pay, It ain’t going to be us - so pay up, plebs!”

“We are going to need revenue,” said Speaker of the house John Boehner . “the debt ceiling - deficit deal proved the majority of Americans refuse to tax the rich, so the Transaction Enhancer was easier to hide than say - the ‘breathing tax’… although we can’t rule out that concept if democrats give ANY indication they want to roll back the Bush tax cuts.” The tax will not only be on sales taxes, but will extend to those with incomes of less than $100,000. Corporate taxes, and capital gains taxes are exempt.

In an effort to ensure its effectiveness, the Internal Revenue Service is to be privatized. Halliburton has shown interest if the contracts are no bid. They say they will add at least 50,000 new employees in the second half of 2011. Thereby ‘creating jobs’!

Calls to Mitch McConnell’s office were not returned, seeing as he was out spending the not yet earned money from the new transaction enhancement on new pork barrel projects.

August 2, 2011 at 8:33 a.m.
fairmon said...

The working class is getting hammered by high oil and energy prices and the resulting transfer of wealth to other countries. Seeking energy independence by allowing the exploration and processing of our own oil and energy sources including natural gas would employ millions in decent jobs. Those working people would pay social security, medical taxes and income tax. Those working people would buy goods and services that would require other businesses to expand and employ people. The government receives royalties for areas they control where oil reserves exist resulting in increased revenue. Regulate as needed to protect the environment but quit being an obstacle. Incentivize the private sector, not grants and funding, to pursue alternatives. Energy independence would do more to settle the middle east down than any current military and foreign aid initiative. Their behavior is funded by our billions of wealth transfer buying their oil. A significant factor in our total trade imbalance is oil.

High gas and energy prices have a greater adverse impact on the middle and lower income segment of society than on the wealthy. High energy and gas prices are like a tax on working people.

August 2, 2011 at 8:44 a.m.
limric said...

Harp3339 said, quote:

"Foreign buying of American companies and depressed real estate is a threat no one is talking about. Miami real estate will soon see over 50% of their real estate being held by foreign owners." "A good but unlikely rule in congress would be no legislation will be passed and no new spending approved that does not increase employment opportunities through increased demand for American made products."

I agree completely. This is THE MOST IMPORTANT ISSUE facing America - yet it is NEVER addressed by our elected representative government nor the media. What we get are KORUS and other job killing trade deals.

The propaganda has us fighting each other over small shiny objects of little or no importance.

August 2, 2011 at 8:45 a.m.
fairmon said...

The national debt pales when compared to the "off book" unfunded future pension and health care liabilities at the federal, state and local levels. Some local governments have already defaulted on pension obligations. Pritchard, Alabama is a recent example.

August 2, 2011 at 8:51 a.m.
Clara said...

Hey, Nuck and Limric!

Very Good!

The rest of you, so far, did well, too. Poo

August 2, 2011 at 8:59 a.m.
chet123 said...

GREAT POST HARP3339....CANT BELEIVE I AM SAYING THIS...SINCE I'M YOUR #1 MENACE LOL LOL LOL.... BUT YOU ARE ABLE TO EXPRESS FLARES OF BRILLIANCY IN YOUR WRITING...WELL ARTICULATED...MASTERFULLY WRITTEN

August 2, 2011 at 9:01 a.m.
fairmon said...

limric,

We may need to take the other side of our trade deals. Tell those we have agreements with we want their deal and they can have ours. I understand some of our trade agreements require a high percent of the goods they buy be produced in their country for them to allow imports. Our leaders say we should help their economy and this concept will insure we are able to import to them and their people will be able to buy our products. However we are buying more of theirs than they buy of ours so jobs and wealth are both transferred.

August 2, 2011 at 9:04 a.m.
chet123 said...

WISH I COULD SAY THE SAME TO LIBERTARIAN4FREEDOM......NOTICE YOU STILL TRYING TO ATTACK CLAY....EVADING THE ISSUE!.......LIBERTARIAN** TRY TO STAY AWAY FROM PERSONAL ATTACKS ....PERSONAL ATTACKS TAKE YOU OFF THE TOPIC AND MAKE YOUR THINKING MURKY AND YOUR AGRUMENT SOUND LIGHT-HEADED.......TRY TO SOUND LIKE AN ADULT SOMETIME

August 2, 2011 at 9:24 a.m.
fairmon said...

chet123,

Thanks. You are not a means. We occasionally agree except you think one party is good and I detest both of them. Those in need of food, clothing and shelter do not get enough support from either party due to spending on less essential welfare to get votes. The waste and fraud that is allowed is ludicrous. Millions of those in the dependent category are capable of being productive with training and job opportunities which local, state and federal governments do not properly address.

Politicians are in a glass bubble and never see the real every day ugly world many people are coping with. Your party thinks more taxes and throwing more money at it will solve all problems. The other party thinks they should cope on their own without increasing their abilities and opportunities. The elderly, children and the disabled are not provided for consistent with what is spent under that label.

What is the justification for billions in foreign aid when we have hungry people sleeping under freeway bridges on card board? Why are we spending a trillion or so protecting people in the middle east and elsewhere while the death rate in Washington D.C. and other cities exceeds the military deaths per capita?

Keep telling me how great Obama and the democrats are. If you repeat it enough it will re-enforce your belief and you will have a party you believe in while I remain frustrated by and continue to detest both of them.

August 2, 2011 at 9:30 a.m.
Clara said...

Andrew,

Would you be willing to give me 11.1% of your earnings to supplement the thousand dollars they took from my Social Security plus the loss of the money that was taken when the cost of living was removed from SS?

Just these past few months the cost of living has increased tremendously!

I'm willing to work but locally, where I live, the only job offered was one delivery driver who had to be able to lift 60 lbs.

I have trouble with a gallon of milk!

August 2, 2011 at 9:41 a.m.
chet123 said...

HARP3339....THIS IS RARE...BUT TODAY YOU MAKE MORE SENSE THAN ANYONE I'VE HEARD IN CONGRESS OR SENATE...MAYBE WE WILL PICK ANOTHER DAY TO FIGHT..TODAY I COMPLY!!!.I ADMIRE YOU FOR YOUR PASSION!!!

SEE YOU LATER MY FRIEND!

August 2, 2011 at 9:42 a.m.
timbo said...

Clay Bennett, as usual, is an idiot. It amazes me that you people just don't get it. When your man Obama spent $800 billion on a bank bailout you were ok with it. Most went to bail the rich out of their bad investments.

When your buddy Obama cozies up with the CEO of GE taking tons of campaign cash and then they had a 14 Billion profit with no taxes, you thought that was ok.

When Obama bailed out GM and Crysler, again big business that accounts for less than .5% of total jobs in this country, to basically bail out his union buddies. You thought that was great.

When Obama spent almost 1 trillion dollars on a stimulus package that didn't stimulate anything but the growth of big businesses pocket books you were ok with that. No decrease in unemployment as promised for the "little guy."

All these things that helped the rich, not the little guy or not small business, and because it was done by democrats you are ok with it.

The facts are these, I don't care if you put a 50% tax on large corporations. What will happen is that they will go oversees. If you tax small business they will pass it on to the consumer because their profit margins are extremely tight. Then you will pay the "tax" through increased prices. You are cutting off you nose to spite your face.

This inconstancy of philosophy makes it clear that your not interested in anything but supporting one side or the other. That you don't understand that both parties are equally corrupt and equally responsible.

It is a childish way to look at things. Where small business goes, so goes employment and the economy. Concentrating on big business is what both parties do because of campaign cash. To act high and mighty and look down on the rest of us because you are "morally superior" just doesn't hold water when you support the above.

August 2, 2011 at 10:04 a.m.
potcat said...

``` Limrics 8:33 post and Harps 9:30 post...Right on Brothers!!

`` I just might be writting your names in on the Presidental election ballot, i'm serious.

August 2, 2011 at 10:28 a.m.
limric said...

"How can you frighten a man whose hunger is not only in his own cramped stomach but in the wretched bellies of his children? You can't scare him--he has known a fear beyond every other." - John Steinbeck – The Grapes of Wrath

One of America’s very best (and a personal favorite) writers knew who the culprits were seventy years ago. We know who the culprits are today. They are one in the same. The moneyed banking interests caused the Great Depression and they created the disastrous collapse that has thus far destroyed 7 million middle class jobs. Washington is complicit with an agenda to create a nation of serfs and lords.

Today, the corporate media would brand Steinbeck an anti-capitalist - FOX, a socialist. Those in control want to keep the masses fighting over shiny objects. While we wrestled each other in dry dusty alleys, the rich wrote tax codes to avoid taxes. They use their wealth to buy influence in Washington DC, rigging the game in their favor. The bottom 50% of the population pays no income taxes. The working middle class, with declining real incomes, foot all the bills. They’re bamboozled into believing they can live like the rich by a financial industry that lies, obfuscates and defrauds them. Corporate superstar CEOs, fawned over by the corporate media, outsourced your good paying middle class jobs to foreign lands, boosting their stock price and their mega-million bonuses. Every policy, program and regulation rolled out by the FED & US Treasury in the last three years has been to prop up, enrich, and support their too big to fail Wall Street owners. The middle class American working family is just too small to matter. This may not look like the 1930s, but it is just as bad for millions of American working middle class families.

The revolution will be televised

August 2, 2011 at 10:30 a.m.
BigRidgePatriot said...

Clay’s lack of understanding of the issues strikes again. There were no significant cuts affecting entitlement programs or the "poor" in the budget deal. The sleeve on the left is that of a politician and the sleeve on the right is that of a soldier. The only concrete cuts in the plan are in the defense budget. The defense budget baseline was already decreasing, unlike any other part of the budget.

I have no problem with defense carrying its share, but Obama has been increasing our global commitment while slashing the defense budget. He is going to end up completely exhausting defense resources and leaving us vulnerable. This problem is worsened because we are so heavily committed in deserts where equipment is subject to extremely rough conditions.

Clay should try to develop some kind of understanding about what is going on around him before he weighs in.

August 2, 2011 at 10:30 a.m.
acerigger said...

timbo,"Obama spent $800 billion on a bank bailout"(that was Bush,) "Obama bailed out GM and Crysler,"(sic),(that was Bush), "When Obama spent almost 1 trillion dollars on a stimulus package that didn't stimulate anything"(better check with the CBO on that)!) Please get your facts straight, turn off Faux-Newz.

August 2, 2011 at 10:36 a.m.
potcat said...

`` My favorite book of all time is "East OF Eden".

August 2, 2011 at 11:04 a.m.
MickeyRat said...

The debt-ceiling compromise will do nothing to prevent the economy from tumbling into a second recession. YOU IDIOTS!!

Todays Republicans are ever more extreme, intransigent — and flagrantly indifferent to the public good. With a penchant to push the country into a Latin-American-style banana republic, the Republican extremists have a loaded gun. And in their sights are not just holding the line on social spending, but their ultimate orgasmic fantasy of dismantling New Deal social legislation — particularly social security — that has seemed (and should stay) untouchable.

In fact, the stupid “debt ceiling” theater is an artificial creation. The U.S. Constitution doesn’t call for one (you got that Tea Partiers). Except for Denmark, no other advanced democratic nation has a debt limit. Overseeing government spending is what the political process is all about. – unless a Republican is in the White House.

But being the butt-heads that Republicans are, threatened to pull the trigger, succeeded in forcing the big pussy Democrats to pee on themselves AGAIN, and abandon tax increases on the wealthy — at a time when America’s wealthy are as rich as the tycoons of the Gilded Age. Feeling the gun at their sphincters, the Democrats joined the Republicans in the quest for deeper spending cuts — which will only make the disastrous U.S. unemployment situation worse.

So while programs helping students, the elderly and the poor have been picked over like vultures on a road kill Armadillo, hedge fund managers can get back to work destabilizing financial markets with full peace of mind, knowing they’ll continue to enjoy a tax rate lower than the mechanics who service their private jets. SO, a round of applause for our government: All they have managed to do is shoo away their own shadows. DISGUSTING!!

August 2, 2011 at 11:26 a.m.
timbo said...

I didn't think you libs would answer my post because there is no other answer than the one I gave. What a bunch of weenies.

August 2, 2011 at 11:52 a.m.
timbo said...

MickyRat....Where do we get the money? You could confiscate all the money from the "rich" and it wouldn't even make a dent in the debt. Your obsession that their is a difference in the two parties is kind of quaint.

August 2, 2011 at 11:55 a.m.
chet123 said...

TIMBO IS ANOTHER EXAMPLE OF SOMEONE NOT PREPARED TO AGRUE ON ISSUE....HE ONLY GET PERSONAL...HE GET PERSONAL BECAUSE HE 'S NOT CAPABLE OF ARGUING ON MERITS....SO TO KEEP FROM LOOKING STUPID HE START THROWING MUD LOL LOL LOL A VERY CHILDISH TRICK

August 2, 2011 at 12:13 p.m.
moonpie said...

limbo, I've been labeled a lib here, and have almost never had someone who referred to me as such actually accurately state my views.

You description of how Obama plus other democrats and republicans is very simplistic and viewed through a narrow scope. Still looking through your scope it should indicate that libs don't just want to take from the rich.

The ripple effect of failure would have reached very far. To you, to me. I think it's foolish to say that any policy will create x number of jobs or reduce unemployment by x%.

I think such statements lead to unrealistic expectations. The policies and actions may have prevented a free fall. We will never really know.

So it's hard for any side to prove the failure or success of those actions. You can only argue that they did not achieve all desired objectives.

August 2, 2011 at 12:20 p.m.
MickeyRat said...

TimboPonders; I didn't think you libs would answer my post because there is no other answer than the one I gave. What a bunch of weenies.

Here’s some answers,

From acerigger; ... timbo,"Obama spent $800 billion on a bank bailout"(that was Bush,) "Obama bailed out GM and Crysler,"(sic),(that was Bush), "When Obama spent almost 1 trillion dollars on a stimulus package that didn't stimulate anything"(better check with the CBO on that)!) Please get your facts straight, turn off Faux-Newz.

Acerigger plainly illustrates Limric’s sentence: They’re (meaning YOU) bamboozled into believing they can live like the rich by a financial industry that lies, obfuscates and defrauds them.

Republicans are criminals and don’t care how open they are about it. Democrats are two bit crooks but feign innocence like the pussies they are.

You and the other conservatards suffer from Stockholm syndrome.

August 2, 2011 at 12:22 p.m.
BigRidgePatriot said...

MickeyRat said... "The debt-ceiling compromise will do nothing to prevent the economy from tumbling into a second recession"

I agree with you on that one.

The government has only committed to scale back slightly the rate of growth of spending. The idea that this bill results in any year after year spending reductions (except for defense) is simply wrong.

The world will not come to an end because of this bill. This bill is chump change compared to total spending.

The pending economic collapse will come because the out of control spending was not reigned in.

August 2, 2011 at 12:24 p.m.
chet123 said...

TIMBO...NO ONE WANT TO CONFISCATE ALL THE MONEY FROM THE RICH...WE DONT WANT TO DO THAT....BUT FOR ACCURACY PURPOSES....HOW MUCH DO YOU THINK ALL THE MONEY OF THE RICH AND MAJOR CORPORATION ARE WORTH MY FRIEND????MAYBE MORE THAN YOU THINK LOL LOL LOL YOUR STATEMENT IS FLAWED.....THE RICH AND MAJOR CORPORATION ARE WORTH IN THE TRILLIONS AND THE MARGIN BETWENN THEM AND MIDDLE CLASS ARE WIDENING MORE AND MORE AT A FAST PACE...BECAUSE OF TRAITOR AS YOURSELF WHO CHOOSE TO BE PROTECTOR OF THE RICH AND GREEDY....YOU NEVER HEAR THEM DEFENDING THEIR POSITION!...I WANDER WHY???IS IT BECAUSE THEY HAVE BUTT KISSER LIKE YOURSELF WHO WILL BLINDLY LAY YOUR BODY AND SOUL DOWN FOR THEM LOL LOL LOLLOL LOL LOL...THAT HOW THEY ARE ABLE TO BUY POLITICAIN, MEDIA OUTLET(RADIO,TV,NEWSPAPER,MAGAZINES,RICH LIMBAUGH,PAT BUCHANAN,SEAN HANNITY) SUPREME COURT JUDGES(IE CLARENCE THOMAS)AND EVEN CHURCHES AND PASOTRS,PREACHERS LOL LOL TENACLE STREACHES OVER THE WORLD.....RUPERT MURDOX PROVING THAT LOL LOL LOL

August 2, 2011 at 12:31 p.m.
moonpie said...

timbo, it was an accident that I called you limbo... typing on a phone....

August 2, 2011 at 12:34 p.m.
alprova said...

Timbo stated: "When your man Obama spent $800 billion on a bank bailout you were ok with it. Most went to bail the rich out of their bad investments."

Lie #1. That money was put into motion by GWB before he left office.

"When your buddy Obama cozies up with the CEO of GE taking tons of campaign cash and then they had a 14 Billion profit with no taxes, you thought that was ok."

Lie #2. Corporate taxes are settled the year AFTER the applicable tax filing year. The charge that they paid no taxes is false. GE paid in billions in pre-payments towards their tax bill. You people need to make up your mind. Are you for taxing corporations or not?

"When Obama bailed out GM and Crysler, again big business that accounts for less than .5% of total jobs in this country, to basically bail out his union buddies. You thought that was great."

Lie #3. The jobs, had those two companies not been salvaged, would have numbered into the hundreds of thousands. For every G.M. and Chrysler auto worker, there are four employees who work for a parts supplier to the auto plants. Those employees are typically non-union as well.

"When Obama spent almost 1 trillion dollars on a stimulus package that didn't stimulate anything but the growth of big businesses pocket books you were ok with that. No decrease in unemployment as promised for the "little guy." "

Lie #4. $787 billion does not add up to a trillion dollars. The word "Spent" is also a lie. The funds are to be dispensed over a ten year period of time, so the results are not in yet as to how effective the stimulus plan will have been. We've got eight more years left before the results of that plan will be known for sure.

August 2, 2011 at 12:34 p.m.
blackwater48 said...

A MINOR POINT

Part of the Defense cuts you tea baggers are blowing a gasket over will be in Homeland 'security' and foreign aid, as I interpret the dribble of 'facts.' Talk about back room deals and legislation getting rammed through Congress...

Why would the GOP oppose Obama in the general election? He's well on his way to establishing his legacy as the most effective republican president of the 20th century.

I wonder how 'reasonable' he expects republicans will be in the future? There is a reason why you should never negotiate with terrorists...

August 2, 2011 at 12:58 p.m.
mountainlaurel said...

Limric said: Corporate superstar CEOs, fawned over by the corporate media, outsourced your good paying middle class jobs to foreign lands, boosting their stock price and their mega-million bonuses. Every policy, program and regulation rolled out by the FED & US Treasury in the last three years has been to prop up, enrich, and support their too big to fail Wall Street owners. The middle class American working family is just too small to matter."

Since a majority of politicians in Washington continue to fail the American people and our Nation, I’m thinking it might behoove we the middle-class people to follow in the steps of corporations and import more responsible leadership from abroad.

Granted we would have to make a few legal adjustments, but, clearly, the American people have good cause and our need is urgent, especially the poor and middle-class. Not only have the majority of politicians in Washington continued to ignore and grossly neglect the basic needs of a majority of the American people, but through their petty, immature, and irresponsible conduct they have also made this Nation a worldwide laughing stock.

As such, I’m sure the rest of the world will fully understand our need to import more responsible leadership, and may even be willing to assist the American people in our search. Without a doubt, the country of Germany - along with their savvy media - fully understands, which could very well work to the advantage for those of us seeking wiser and more responsible leadership in the Tennessee, Georgia, and Alabama regions.

From the German mass-circulation Bild:

"Playing poker is part of politics, as is theatrical posturing. That's fair enough. But what America is currently exhibiting is the worst kind of absurd theatrics. And the whole world is being held hostage."

"Irrespective of what the correct fiscal and economic policy should be for the most powerful country on earth, it's simply not possible to stop taking on new debt overnight. Most importantly, the Republicans have turned a dispute over a technicality into a religious war, which no longer has any relation to a reasonable dispute between the elected government and the opposition."

"If it continues like this, the US will be bankrupt within a few days. It would cause a global shockwave like the one which followed the Lehman bankruptcy in 2008, which triggered the worst economic crisis since the war. Except it would be much worse than the Lehman bankruptcy. The political climate in the US has been poisoned to a degree that is hard for us (Germans) to imagine. But we should all fear the consequences."

http://www.spiegel.de/international/world/0,1518,774666,00.html

August 2, 2011 at 1:02 p.m.
limric said...

BigRidgePatriot, "The pending economic collapse will come because the out of control spending was not reigned in."

NO, That is not the case. What will cause a double dip (depression) will be the consequences of giving our whole manufacturing and industrial base away. Lavishing tax credits, subsidies and cuts on the companies that sold you out, chucked financial regulations, bailing out the very people that caused the collapse and then threw the entire burden of ALL of it squarely on the backs of the middle class...that can’t get jobs...because ????

The most important issue facing this nation is JOBS. Pure and simple. Oh, and storming the Bastile’


Moutainlaurel, "I’m thinking it might behoove we the middle-class people to follow in the steps of corporations and import more responsible leadership from abroad."

Thanks for that. That really put an ear to ear grin on my face.

August 2, 2011 at 1:36 p.m.

I will continue to flag (suggest removal) every post from chet123 until he finds the Caps Lock button. Please alprova, show your husband how to use his keyboard.

I too, choose to point out Clayduh's shortcomings because he is lazy, predictable, and cares little about local news. Plus, he routinely attacks middle-aged white men as the only bad guy in his world.

August 2, 2011 at 1:44 p.m.
timbo said...

Aprvov.....Here are my answers:

Lie #1. That money was put into motion by GWB before he left office.

Your lie #1 Yea, that idiot Bush came up with that crap but Obama voted for it and help implement it. The point was it benifited the rich which you people seem to hate. Hypocite

Lie #2. Corporate taxes are settled the year AFTER the applicable tax filing year. The charge that they paid no taxes is false. GE paid in billions in pre-payments towards their tax bill. You people need to make up your mind. Are you for taxing corporations or not?

Your Lie #2 Obviously you don't know anything about corporate taxes. Since I own a corporation and file taxes every year, you were abolutely full of manure. We file in the current tax year. The fact is that GE did not pay tax on 14 billion. I want big corporations to pay at least the same tax as I do. I have never said that they should not. You must have imagined that.

Lie #3. The jobs, had those two companies not been salvaged, would have numbered into the hundreds of thousands. For every G.M. and Chrysler auto worker, there are four employees who work for a parts supplier to the auto plants. Those employees are typically non-union as well.**

Your lie #3 Are you math challenged? Do you understand percentages? .5% is about 1,000,000 jobs. Small business failures last year cost 5 million jobs because small business accounts for 70% of jobs in this country. Which do you think is more important? At least be able to multiply and divide, please. Also, the biggest group that benefited was the over-paid auto unions and you know it. They gave Obama tons of cash. I guess his support of the bailout is just a coincidence.

Lie #4. $787 billion does not add up to a trillion dollars. The word "Spent" is also a lie. The funds are to be dispensed over a ten year period of time, so the results are not in yet as to how effective the stimulus plan will have been. We've got eight more years left before the results of that plan will be known for sure.

Your lie #4 Yes $787 Billion of money we have to borrow is well over a trillion dollars. Again, you are being dishonest. The vast majority of that money has been "despensed" (Spent) because it showed up in Obama's deficit numbers as 1.5 trillion last year. That answer was just lame. 1.5 trillion is an increase of 50% from the previous year. Obama is the biggest one year spender in history.

You are not different that the rest of the libs who are in fantasy land about what is really going on in this country. The whole point was to show how schizophrenic you hypocrites are.

Both parties suck equally!!!!

August 2, 2011 at 1:57 p.m.
MickeyRat said...

Clay cares little about local news? Wasn't yesterdays cartoon local enough? DOH!! Psst..Clay Bennett is a nationally syndicated (that means alllll around the country) cartoonist. That means he's bigger and better and has much gooder things ta think about than the fight you and your boyfriend got into last night. BOINK!!

Oh and while were speaking of keyboard expertise, "he routinely attacks middle-aged white men as the only bad guy in his world." is the pot calling the kettle black.

August 2, 2011 at 1:58 p.m.
timbo said...

nooga....your opinion is insignificant. You posts prove your ignorance and nastiness. Keep on doing it.

Bush was not better than Obama. They both are big spending imbeciles.

August 2, 2011 at 1:59 p.m.
timbo said...

Chet123...when you hallucinate you do a great job.

August 2, 2011 at 2:05 p.m.
MickeyRat said...

L4F (and all you weary Teabaggers) – You need a vacation. Click below for your ticket to paradise. WHEE ---- CHA CHA CHA

http://politicalirony.com/2011/08/02/teabagger-paradise/

August 2, 2011 at 2:56 p.m.
BigRidgePatriot said...

Gold just touched 1650 as the Dow drops below 12000. I guess investors are not too impressed with this "deal".

August 2, 2011 at 3:21 p.m.
BigRidgePatriot said...

limric,

I agree that the things you point out are not helping, but they are not the root cause of the economic problems we are experiancing.

August 2, 2011 at 3:23 p.m.
limric said...

Yes they are. OH....except that I forgot about Bush's scavenger hunt in the Middle East, that only costs us ohhh 1-2 billion PER WEEK! DON"T be bamboozled by a financial industry and corporatocracy that lies, obfuscates and defrauds you every minute of every day.

August 2, 2011 at 3:51 p.m.
timbo said...

nooga... I think my posts at least make sense. The significance is in the eye of the beholder. Your posts are just insults and democrat talking points. Try an original thought.

My year goes from July 1 to June 30. Our taxes are due in October. You are confusing the personal tax and some corporations that pay in the calender year. Large corporations usually have the same mid-year ending that I do.

Thanks for calling me a Rhodes Scholar. I am not, but I am glad you noticed my considerable intellect. I appreciate you futile attempts at sparing with me.

By the way, I sell a lot of hot dogs...coke products too.

Bush was not the sharpest knife in the drawer, but Obama is just average with a gift of gab. His lack of experience is astoundingly poor. He didn't even run a hot dog stand much less a country. This lack of experience is an insult to successful business men.

So, nooga..keep trying. Oh, by the way, I have a new insult. "Your mother wears army boots."

August 2, 2011 at 3:52 p.m.
mountainlaurel said...

Blackwater48 said: "I wonder how 'reasonable' he expects republicans will be in the future? There is a reason why you should never negotiate with terrorists..."

Terrorists, indeed, Blackwater48. And since Republicans like Mitch McConnell are already boasting to anyone willing to listen that they intend to use the debt ceiling missile in future elections, I think it’s rather obvious as to what to expect in the future.

What has really surprised me the most is the number of elected officials in Washington who supported this kind of unethical and irresponsible conduct. I find this particularly unsettling. Some people felt that President Obama should have pursued the 14th Amendment option, and while I’m not sure this would have been the best option, I fully agree with their concerns and think something should be done to prevent this kind of "terrorist" activity in the future:

"I do not understand any argument that implies it is OK for Congress (or one chamber of it) to so easily threaten to blow up the economy. Such a thing strikes me as self-evidently unpatriotic. And, if it is unpatriotic to threaten severe economic damage, isn’t it also unpatriotic to resist the demands that would prevent it?"

"In brief, this is an argument for removing the debt ceiling as a congressionally-available political instrument. It’s too powerful. Its down-side is too grave. It is so potentially damaging to the nation that it should neither be employed in the service of any demand nor should any demand be resisted at the risk of that damage."

"The debt ceiling, if constitutionally valid, is the ultimate trump card, the economic atomic missile aimed at America. Is it valid? Should it be? Does Congress possess the codes to this nuclear weapon?"

http://www.samefacts.com/2011/07/politics-and-leadership/guest-post-the-debt-ceiling-debate-is-self-evidently-unpatriotic/#more-21767

August 2, 2011 at 3:53 p.m.
limric said...

BRP,

On a different subject. Went to a 'tactical sniper challenge' last Saturday. Simulated insurgents between 200-600 meters. Whoo that was tough, My shooting this time -- AWFUL!! I finished 15th out of 25 shooters. The zombies live another day.

August 2, 2011 at 4:03 p.m.
timbo said...

Mountainlaurel, Blackwater48....That is the main reason liberals are so wrong. Emotional responses to everything. Did anyone die in the debt crisis? Did something blow up I didn't know about?

I wonder if you would be so quick to give a Republican president the power that congress is constitutionally mandated to do. The debt ceiling is supposed to discipline congress to at least acknowledge that the amount of money we own is going up.

When we were fighting the British for our freedom, they considered us terrorists too. You democrats are just upset that the Tea Party set the priority and won the day. If that is the what you mean by terrorist, count me in.

You emotional posters only argument is to whine and cry that it is unfair to keep you people from stealing my money (taxes). You people need to grow up.

Blackwater48..someday you are going to use the word "tea-bagger" in front of someone who is going to clean your clock. I hope I am there to see it.

August 2, 2011 at 4:05 p.m.
limric said...

Timbo,

Your latest post is another example of the pot calling the kettle black. THUSLY -@ 10:04 a.m. Clay Bennett, as usual, is an idiot. It amazes me that you people just don't get it.

In addition - The following statement is fallacious. “When your man Obama spent $800 billion on a bank bailout you were ok with it. Most went to bail the rich out of their bad investments.”

And that my hot dog selling friend, is an example of an utterly preposterous and emotionally based opinion. See, the knife cuts both ways. :-) By the way. I LIKE hot dogs and Coca Cola.

August 2, 2011 at 4:23 p.m.
BigRidgePatriot said...

limric said... "Yes they are"

Loss of manufacturing is a symptom, not a cause.

Our manufacturing is now competing in a global market against foreign competitors that have friendlier tax structures, lower wages and less regulation. As the competition increased our government tried to put controls in place to isolate us from the competition but that never works.

Taxes: Instead of reducing, eliminating or simplifying corporate taxes they give convoluted subsidies and exemptions, creating thousands of pages of tax law to comply with. Compliance costs are ridiculous. Why do we tax domestic businesses at all? Money earned and in the control of a business can be used for investment or distributed as income to individuals. If it goes to (domestic) investment it should not be taxed at all. If it goes to wages or dividends tax it as individual income tax. Do not tax it twice. The FairTax would fix all of this.

Wages: Minimum wages and union contracts and overly generous welfare and unemployment benefits artificially inflate wages and decrease labor mobility. Not letting the market dictate wage rates builds houses of cards that eventually have to fall. It is like trying to fool Mother Nature. We would be better off expecting out of work people to find a new job at a lower rate than to let them wait for two years on unemployment for the same wage they had before. I’ve seen many people try to do this, and then just end up with the lower wage job in the end anyway. Mexicans come out of the woodwork to work here because we have inflated the cost of low skill labor with the minimum wage. Americans sit on the sidelines taking their check. I have worked most of those jobs that only Mexicans will do, including farm help, dishwashing, bagging groceries, flipping burgers. You can live on those wages, not to say it is fun.

Regulation: Regulations in this country are way out of hand. The government employs more people than manufacturing does in this country. Many of those government employees are busily writing laws, rules and regulations for businesses. Unless you are out there fighting the fight you cannot understand how the government works against you, especially when you are trying to start up a business. We need to streamline regulations and slash the size of regulating agencies so they pretty much only have time for enforcement and little time left for dreaming up new ways to get into the shorts of businesses.

August 2, 2011 at 4:30 p.m.
BigRidgePatriot said...

limric said... "On a different subject. Went to a 'tactical sniper challenge' last Saturday"

You are making me feel guilty. I've not been to the range for quite a while. I finished building a ruger 10-22 a month or so ago and have not got a round out of it yet. That gun was my plan to get my range costs down. Feeling motivated to pay the mortgage off faster considering the storm on the horizon.

August 2, 2011 at 4:38 p.m.
mountainlaurel said...

Timbo said: "That is the main reason liberals are so wrong. Emotional responses to everything. Did anyone die in the debt crisis? Did something blow up I didn't know about?"

And the rest of the civilized world, Timbo? Are they just being emotional? Do you get the feeling other nations were amused by the immature antics of the House Republicans AND do you think other nations will forget that the U.S. Congress was willing “to allow the international economy fall into another financial disaster in order to score a few political points.” I don’t think so:

French newspaper Le Monde: “The American politicians supposed to lead the most powerful nation in the world are becoming a laughing stock.”

Chinese state-owned newspaper Xinhua: “Given the United States’ status as the world’s largest economy and the issuer of the dominant international reserve currency, such political brinksmanship in Washington is dangerously irresponsible.”

Conservative German Die Welt: “[T]here are few signs of self-doubt or self-awareness in the U.S. … [The Tea Party movement] sees the other side as their enemy. Negotiations with the Democrats, whether it’s about appointing a judge or the insolvency of the United States, are only successful if the enemy is defeated. Compromise, they feel, is a sign of weakness and cowardice.”

The German mass-circulation Bild: “What America is currently exhibiting is the worst kind of absurd theatrics and the whole world is being held hostage… Most importantly, the Republicans have turned a dispute over a technicality into a religious war, which no longer has any relation to a reasonable dispute between the elected government and the opposition.”

http://thinkprogress.org/security/2011/07/29/283703/world-reacts-to-debt-ceiling-debacle-irresponsible-worst-kind-of-absurd-theatrics-u-s-politicians-a-laughing-stock/

August 2, 2011 at 4:53 p.m.
timbo said...

limric .......those are statements of fact my friend. okay, the idiots part was a little emotional .I was frustrated .

August 2, 2011 at 4:54 p.m.
timbo said...

mount laurel ...... who cares what the inteligencia says. they have been wrong about everything .quoting european newspaper say.
what a good little socialist you really are .

August 2, 2011 at 5:03 p.m.
mymy said...

Well, The Liar-in-Chief came out along with the other Demos and made his/their same ole same ole speech. We are going to get back to working on jobs, etc. and get the American people back to work throwing in the same ole tax words such as millionaires, billionaires and corporate jet owner. “Working on jobs”? When? Well, how’s that working out for us so far Libs?

There are those in society who truly need help and should not/cannot pay taxes, but when 50% do not pay any taxes something is wrong. Tax code ring a bell. The “rich” cannot carry the load so that Obama can continue to spend, spend, spend to spread the wealth and pay political debts to those that helped elect him-a lot them fat cats you despise.

The stupidity of the left is unbelievable. “The Bomb” is blowing up this country and refuses to accept that his policies have worsened the situation and just keeps digging the hole deeper. Again, how’s that working out for us Libs? I do not expect him to change, but continue to play around (ha) and spend until we can get him the hell out of the WH. It will take years to undo his damage to this country on top of damage done over decades by both parties. This country does not owe anybody except a few assistance on the backs of others. People who refuse to get an education and work--only stand in line for a handout---tough! Deal with it and the consequences of their decisions! Many come or want to come legally to this country to work hard, take advantage of this countries opportunities and too many citizens just want a handout. Something is wrong with this picture.

Just wait till Fall when “the super committee” comes into play. UGH! I hope the Tea Party continues to hang tough and keep the heat on ALL. They are the winners that got this long overdue debate to the forefront. This is not over and there are many more hard times to come.

August 2, 2011 at 5:10 p.m.
rick1 said...

timbo,mymy,BRP,L4L, you may find the below listed article very interesting. The first link is a copy of the Obama's tax return and the second link is an article listing all of the deductions the Obama's claimed and how they save an additional $167,076 in 2010 federal taxes by using these deductions.

If Obama feels he and the rich do not pay their fair share, why does he take these deductions?

http://www.whitehouse.gov/sites/default/files/rss_viewer/POTUS_taxes.pdf

http://www.americanthinker.com/2011/08/how_the_obamas_and_the_guilty_left_can_pay_more_taxes.html

August 2, 2011 at 5:55 p.m.
mymy said...

Rick 1: that is why I laugh every time The Bomb makes that statment and 1 of many reasons I call him Liar in Chief.

The sad thing is too many people buy into this stu$$$$$$$$$$ff!

August 2, 2011 at 6:51 p.m.
rick1 said...

mymy, you are correct on the fact too many people buy into Ovomits lies. Now economist are saying we are heading into a double dip recession and I can hear the liberals saying and believing this will be Bush's fault.

Look what happened with the stock market today after the debt bill was passed. The Dow lost 242 points and closed below the 12,000 mark.

<p>CBN.com reported that News reports show Americans cut back on spending last month for the first time in two years as incomes grew by the smallest amount in nine months.

Obama said the republicans drove the car into the ditch and his policies got us out of the ditch. Problem is he has now driven the car over the cliff and there is a line of liberals following over the cliff.

August 2, 2011 at 7:06 p.m.
limric said...

L4F,

Try the Knob Creek Gun Range in West Point Ky. It’s a heap ‘o ‘ fun. Be ready to spend some SERIOUS MONEY. It’ll put a smile on your face a mile wide. You’ll look like the Joker, and you won’t be able to hear for a day or two. As it’s not a long drive from your trailer park so you can easily make a weekend of it. If you wear shorts, be careful. I got burned by flying cartridge cases.

There are quite few out west that offer pretty much the same thing with much longer ranges. OR, do like I do and go to Montana or South Dakota on holiday and practice your sniper skills - and hunt for your dinner. Other than a roll in the hay or bush flying, there isn’t much that can top it.

If you want to go to the center of the universe. Try NYC next month. I’ll meet out front at the MET for Anna Bolena by Gaetano Donizetti. It’s really quite good – you can wear your suit..and get a real piece of Pizza.

Liberals and guns….go figure.


BRP,

Building a 10-22? I’d like to hear about it. As it is, it is a fine rifle – One of the finest. It's one of my kids first rifles, my son has one and he says it’s his ‘go to’ gun. Sure, you can get an Anschutz, Browning T-bolt or high end CZ etc, but dollar for dollar ye can’t beat it.

August 2, 2011 at 7:34 p.m.
mountainlaurel said...

Timbo said: Who cares what the inteligencia says. they have been wrong about everything .quoting european newspaper say. what a good little socialist you really are."

Interesting comment, Timbo. It was only a few days ago that I was reading about some earlier tea bagger types who ranted on much like you do. This group even called Eisenhower a communist. And one of these earlier tea baggers was the father of your current financial benefactor the Koch Brothers. As for the "european" quotes, it’s not just countries like Germany, China, and France who are condemning the antics of the Tea Party and their Republican groupies. Indeed, the thoughts of many Americans have been in the news as well:

“You know what they say: Never negotiate with terrorists. It only encourages them. . . These last few months, much of the country has watched in horror as the Tea Party Republicans have waged jihad on the American people. . . Like ideologues everywhere, they scorned compromise.

. . . All day Monday, the blogosphere and the talk shows mused about which party would come out ahead politically. Honestly, who cares? What ought to matter is not how these spending cuts will affect our politicians, but how they’ll affect the country. . .

America’s real crisis is not a debt crisis. It’s an unemployment crisis. Yet this agreement not only doesn’t address unemployment, it’s guaranteed to make it worse. . . As Mohamed El-Erian, the chief executive of the bond investment firm Pimco, told me, fiscal policy includes both a numerator and a denominator. “The numerator is debt,” he said. “But the denominator is growth.” He added, “What we have done is accelerate forward, in a self-inflicted manner, the numerator. And, in the process, we have undermined the denominator.” . . .

Inflicting more pain on their countrymen doesn’t much bother the Tea Party Republicans, as they’ve repeatedly proved. What is astonishing is that both the president and House speaker are claiming that the deal will help the economy. Do they really expect us to buy that? We’ve all heard what happened in 1937 when Franklin Roosevelt, believing the Depression was over, tried to rein in federal spending. Cutting spending spiraled the country right back into the Great Depression, where it stayed until the arrival of the stimulus package known as World War II. That’s the path we’re now on. Our enemies could not have designed a better plan to weaken the American economy than this debt-ceiling deal.”

http://www.nytimes.com/2011/08/02/opinion/the-tea-partys-war-on-america.html [Tea Party’s War on America – NYT, Joe Nocera]

August 2, 2011 at 7:50 p.m.
BigRidgePatriot said...

limric,

The 10-22 was kind of a budget project. I took the reciever from a pawn shop gun, gave it an Adams & Bennett 18" match barrel and a thumb hole stock. The only thing I really splurged on was a Kidd 6/12 trigger group. A Redfield 3-9x50mm serves for the optics.

It is a very handsome gun. Hopefully it will shoot as good as it looks.

August 2, 2011 at 8:28 p.m.
fairmon said...

mountainlaurel,

I agree we have an unemployment crisis. We have never agreed on why or how to increase employment. I agree this bill doesn't address the jobs issue but is not likely to make it make it worse than it was going to be.

We were an a track to double the deficit in the next 4-5 years. At what point would you become concerned about the debt level and the revenue it will take from spendable revenue in interest? This bill still allows an 8% increase in spending while it caps some discretionary spending. It reduces next years spending by 21 billion. In a budget of 3.7 trillion that is hardly measurable. It was a creative smoke and mirrors job that doesn't threaten re-election of either party.

H.R. 25 and S. 13 are two proposals the wealthy and politicians hate and fear. These fair tax proposals would assure the wealthy, those with illegal gains and those with income from the black market pay their share and relieve the lower income and middle class from all the hidden taxes they pay at rates the same or more than the wealthy. With the current tax codes increasing tax rates on the wealthy will not generate as much revenue as expected, too many ways around them in the current tax system.

At today's prices when you fill your car up you pay about fifty cents a gallon in taxes, the millionaire pays the same tax but it is one heck of a lot less of the millionaires spendable income. The millionaire is probably taking a deduction as a business expense.

I like Warren Buffets suggestion. If spending exceeds GDP by 3% no sitting member of congress is eligible to run for office again. More than likely spending would be reduced and I would bet we would all pay more taxes.

August 2, 2011 at 8:37 p.m.
BigRidgePatriot said...

mountainlaurel said... "Inflicting more pain on their countrymen doesn’t much bother the Tea Party Republicans, as they’ve repeatedly proved.”

This is not an accurate statement mountainlaurel. I cannot speak for every Tea Party sympathizer but I can say with certainty that most of us want what is best for the country. We just don’t happen to agree that a big nanny state is the path to that end.

August 2, 2011 at 8:48 p.m.
blackwater48 said...

GET A SKIN GRAFT

Timbo cried, Blackwater48..someday you are going to use the word "tea-bagger" in front of someone who is going to clean your clock. I hope I am there to see it.

That's the problem with you tea baggers. Too emotional, too irrational, too quick to fly off the handle. Unable to settle differences like civilized people. You probably still use leeches when you get (physically) ill.

Think I should be afraid of you? The last guy who took a swing at me went to a hospital for stitches. Keep on threating, but if you want to talk politics you'll need thicker skin.

August 2, 2011 at 9:05 p.m.
BigRidgePatriot said...

Tough guys exchanging blows through the keyboard?

August 2, 2011 at 9:27 p.m.
fairmon said...

timbo and bw48,

Is that exchange politically correct? Watch the politicos and learn how to put each other down in a suttle way. It may be good to remember there is no "tea party" but an organization of loosely connected people without a central office or national leader. They are self sustaining and receive no money from special interest or lobbyist. Members of congress alleged to be tea party members are supported by their local tea party organizations but they did not run on a "tea party' ticket because there is no "tea party" as such with leadership like the DNC or RNC. The tea party group is viewed by some as a special interest organization within the republican party. Their influence is not as significant as the medis attributes to them. It is the media's way of explaining the change in membership in congress. The media is frustrated because they can't pin point a spokes person for the tea party. They keep trying to get a member of congress to fill that role but no one is able to do so.

August 2, 2011 at 10:40 p.m.
SavartiTN said...

Chilling. A concerted effort is underway to wipe out a "class" of people who don't contribute to the pocketbooks of another. No different than Hitler.

August 2, 2011 at 10:40 p.m.
BigRidgePatriot said...

SavartiTN said... "A concerted effort is underway to wipe out a "class" of people who don't contribute to the pocketbooks of another"

What is chilling is that we have basically two different schools of thought here that are getting so emotional in their opposition that these kinds of comments are becoming common. I don't think I have read anything here that supports this kind of vitriol. It does nothing to further understanding, only builds walls. More listening and less mischaracterization of an opposing viewpoint would be helpful.

It reminds me, after all kinds of laws have been written for the special treatment of the apprehension and prosecution of terrorists, the Vice President of the United States starts calling people of an opposing viewpoint terrorists. Where does this all end up?

August 2, 2011 at 11:37 p.m.
Johnnyhurst said...

These radical Republicans should be drawn and quartered

August 2, 2011 at 11:45 p.m.
BigRidgePatriot said...

How about reading labels and boycotting Chinese and PRC goods whenever possible? Could we agree on that one?

August 2, 2011 at 11:57 p.m.
BigRidgePatriot said...

Johnnyhurst,

That is just the kind of talk that should be avoided.

August 2, 2011 at 11:59 p.m.
alprova said...

Timbo wrote: "Yea, that idiot Bush came up with that crap but Obama voted for it and help implement it. The point was it benifited the rich which you people seem to hate. Hypocite"

I don't hate the rich at all. I just think they should be made to pony up more of the dough needed to fund the functions of Government. Most of America agrees with me too.

"Obviously you don't know anything about corporate taxes. Since I own a corporation and file taxes every year, you were abolutely full of manure. We file in the current tax year. The fact is that GE did not pay tax on 14 billion."

I simplified my statement. Now I will clarify it. Publicly held corporations do not settle the entire amount of taxes due until subsequent tax years, based on their SEC financial reports. There are always adjustments made to tax returns of a corporation the size of GE Capital up to three years following the initial filings.

The only reason that GE has such a low amount of tax due for year 2010 was simple. It wrote off losses from prior years that the corporation had lost in the markets.

It was not due to any incident of favoritism by the Obama Administration or the IRS. Adjustments that will be made over the coming year will likely result in an amount yet to be determined, of taxes being paid by GE for year 2010 and at the appropriate corporate rates.

"Are you math challenged? Do you understand percentages? .5% is about 1,000,000 jobs. Small business failures last year cost 5 million jobs because small business accounts for 70% of jobs in this country. Also, the biggest group that benefited was the over-paid auto unions and you know it. They gave Obama tons of cash. I guess his support of the bailout is just a coincidence."

Considering that the bailout for the auto industry was begun before Obama took office, I'd say you're barking up the wrong tree on that one too.

Your percentage and numbers are off quite a bit. 14 million jobs depend on the big three, which works out to about 10 percent of all jobs in America. That comes straight from the Bureau of Labor Statistics.

"Yes $787 Billion of money we have to borrow is well over a trillion dollars. Again, you are being dishonest. The vast majority of that money has been "despensed" (Spent) because it showed up in Obama's deficit numbers as 1.5 trillion last year. Obama is the biggest one year spender in history."

As it was pointed out previously, no President can spend a dime of the taxpayer's money. If you will take a long look at the two proposed budgets for 2009 and 2010, you will not find one thin dime proposed to be spent by the President for stimulus funds.

"You are not different that the rest of the libs who are in fantasy land about what is really going on in this country."

Well, say what you wish, but I seem to have a far better grip on reality than you do at the moment. I'll just bet you love Faux News.

August 3, 2011 at 2:03 a.m.
limric said...

BigRidgePatriot said, "How about reading labels and boycotting Chinese and PRC goods whenever possible? Could we agree on that one?"

I agree, and practice it as much as possible.

August 3, 2011 at 9:13 a.m.
erosandze said...

People need to calm down on this site. Have a look at this flow chart, it may help. http://flowingdata.com/2011/08/05/flowchart-should-you-argue-on-the-internet/

August 5, 2011 at 9:39 a.m.
please login to post a comment

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.