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Just saw on CNN... Michelle Bachman (aka Batshit lady) is running an add now saying she won't raise the debt ceiling. Cute, so you'd rather see the country default on it's debt and effectively destroy the value of the dollar and cause hyper inflation. GENIUS!
Not quite as stupid as Rand Paul's notion of a balanced budget amendment - something I actually agree with in principal but just doesn't work in practice.
And now today you have Reid & a bunch of Dems going on about how Social Security & Medicare/Medicaid are off the table.
It's a fucking miracle that China is still willing to lend money to the U.S.. All you have to do is take a quick look at Greece and wonder why in the Holy Hell would your own politicians risk the same thing when it's completely unnecessary! I give Obama credit for trying, but it seems even he can't do much. I applaud him for publicly chastising the Congress for dragging their feet on this matter and playing this ludicrous game of chicken. Too bad the fucking media jumped all over his ass for it.
If anything he should be doing more of that - they are playing with fire and it's obscene. The Republicans are determined to turn the U.S. into a wellfare state as they nearly succeeded in doing in the 1920's, while the Democrats playing right into the Tax & Spend stereotype by refusing to make drastic, painful and necessary cuts to entitlement programs while demanding revenue increases.
Democrats Deny Social Security’s Red Ink | FactCheck.org
It's not funny anymore, and the solutions aren't even that drastic (at least as far as fixing the economy goes) but all I see is this (on both sides):
Been listening a lot to Fareed Zakria & Charlie Rose lately, with guests like Ben Stein, Robert Reich and David Brooks and they've all been making very good points on this subject. I don't agree with everything they say but here are the major takeaways I found;
- Manufacturing. It's appalling how little of what you buy is made in America these days. As disgusted as I am with him for his recent behavior, Trump got it right (and I'm paraphrasing here) "We make the best products in the world, and they cost a little more. So what if the toy costs $5 instead of $3?" Basically, it's worth extra cost for the quality but everyone's dick riding China for cheap (and often flimsy/faulty) goods.
I forget who it was making this point (I think it may have been Fareed on The Arena) but it was innovation is key to revitalizing the economy, but all that new tech won't matter if manufacturing is in China and other countries as the other jobs supervising it all will soon follow suit.
- More, serious stimulus. As part of the above, there really needs to be a 2nd stimulus package. There's a major demand crisis right now, which is why companies aren't hiring or building new facilities - there's no point in that if the customers won't be there. And the country is literally falling apart, so why not spend the money needed now to fix America's roads & bridges, make buildings more energy efficient etc. etc.
You can't even compare a U.S. Airport to one in Dubai, there's a world of difference. China is spending a whopping $300 billion on high-speed rail. They're also investing heavily in green technology building solar panels. There's a lot of work that needs to be done - but the Republicans would rather spend that money on tax breaks than putting people to work.
- KILL THE BUSH TAX CUTS ALREADY!
Could America go the way of Greece? – Global Public Square - CNN.com Blogs
The only thing they've done is increase the income disparity:
The U.S. ranks 43rd in income inequality « Ranking America
[quoteAccording to the CIA World Factbook, the United States has family income distribution Gini Index score of 45.0, which makes the United States rank forty-third out of one hundred and thirty four countries in that category][/quote] In the richest nation in the world? That's disgraceful.
Oh, and don't even try to bring this up in a discussion with the Republicans because it's a lost cause.
BLITZER’S BLOG: Bill Clinton on “class warfare†– The Situation Room with Wolf Blitzer - CNN.com Blogs
Now, I actually disagree with Obama on the $250,000 mark and think it should be $500k minimum as $250k actually isn't a lot of money depending on where you live (California is particularly expensive to live in). Never mind the gall of the Oil Companies crying foul about having their subsidies cut.
Exxon Mobil First-Quarter Profit Rises as Oil Demand Fuels Price Increases - Bloomberg
In 2010, they made a grand total of some $30 billion - yet they insist their tax breaks take priority over pell grants when many post secondary tuitions are rising to $10,000+. They actually had the balls to threaten the senate committee to pull their business from the U.S. if they went through with the cuts. BULLSHIT! The U.S. accounts for 1/4 of global oil consumption. I seriously doubt they'd be willing to take such a huge hit.
- Simplify the tax code. This was one of Obama's campaign promises, to simply the code to the point where it can be filled out, on your own, in just an hour or so. Why hasn't this been done already? People shouldn't have to use programs like Quicken or go to Professional Accountants just to have their forms filled properly. It's a headache and needless expense.
- Close tax loopholes. A full 2/3 of America's corporations paid absolutely no taxes whatsoever!
Majority of corporations avoid federal income taxes - study - Aug. 12, 2008
To top it all off, GE actually got a tax REBATE!
What The Top U.S. Companies Pay In Taxes - Forbes.com
Now apparently that was due to the new green energy initiatives or something, but still. Paying nothing AND getting a rebate? The fuck is that?! Yes, there is a clause in the law with regards to not feeling that you shouldn't have to pay... I forget the exact wording of it but someone was making the point (on Real Time with Bill Maher I believe) that if any corporations have the balls to invoke that clause, the government should revoke their status as a U.S. citizen/company. Why should they share the same benefits we do if they don't want to pay their fair share?
- Cut the defense budget. Good lord this is a biggie. Now again, I credit Obama for (finally) having the right line of thinking on this matter - Less boots, better kit. You'll never out-man China or Russia, but you can sure as all out-tech them. But this has to be done within reason - there are billions of dollars being wasted on frivolous projects that in all likelihood will never see any practical use - like the Laser Plane that got axed. Meanwhile defense contractors are getting rich and American soldiers are dieing fighting two pointless wars.
America doesn't have to police the world, at least not on it's own. End these bullshit wars that are costing 2~4 billion a week and stick the troops where they should be - along the Mexican border. There has got to be several bases that could stand to either be shutdown or downsized. An overstretched military + failing economy has been the downfall of every great empire in history and you gotta be incredibly arrogant to think that you're the exception.
I've got more I wanna say but this is enough for now.. been writing this while camping Intulo on my MNK lol and I'd like to do something else. As to why do I even give a damn about this, being a Canadian:
1) Half my family is American, including my Dad
2) I Love the U.S & Canada both, dearly.
3) When you guys tank, we pretty much go down with you so it's in our best interest as well to see that you get your shit together. Half of our trade is with each other after all so for better or worse, Canada is inextricably linked to the United States.
Not quite as stupid as Rand Paul's notion of a balanced budget amendment - something I actually agree with in principal but just doesn't work in practice.
And now today you have Reid & a bunch of Dems going on about how Social Security & Medicare/Medicaid are off the table.
It's a fucking miracle that China is still willing to lend money to the U.S.. All you have to do is take a quick look at Greece and wonder why in the Holy Hell would your own politicians risk the same thing when it's completely unnecessary! I give Obama credit for trying, but it seems even he can't do much. I applaud him for publicly chastising the Congress for dragging their feet on this matter and playing this ludicrous game of chicken. Too bad the fucking media jumped all over his ass for it.
If anything he should be doing more of that - they are playing with fire and it's obscene. The Republicans are determined to turn the U.S. into a wellfare state as they nearly succeeded in doing in the 1920's, while the Democrats playing right into the Tax & Spend stereotype by refusing to make drastic, painful and necessary cuts to entitlement programs while demanding revenue increases.
Democrats Deny Social Security’s Red Ink | FactCheck.org
It's not funny anymore, and the solutions aren't even that drastic (at least as far as fixing the economy goes) but all I see is this (on both sides):
Been listening a lot to Fareed Zakria & Charlie Rose lately, with guests like Ben Stein, Robert Reich and David Brooks and they've all been making very good points on this subject. I don't agree with everything they say but here are the major takeaways I found;
- Manufacturing. It's appalling how little of what you buy is made in America these days. As disgusted as I am with him for his recent behavior, Trump got it right (and I'm paraphrasing here) "We make the best products in the world, and they cost a little more. So what if the toy costs $5 instead of $3?" Basically, it's worth extra cost for the quality but everyone's dick riding China for cheap (and often flimsy/faulty) goods.
I forget who it was making this point (I think it may have been Fareed on The Arena) but it was innovation is key to revitalizing the economy, but all that new tech won't matter if manufacturing is in China and other countries as the other jobs supervising it all will soon follow suit.
- More, serious stimulus. As part of the above, there really needs to be a 2nd stimulus package. There's a major demand crisis right now, which is why companies aren't hiring or building new facilities - there's no point in that if the customers won't be there. And the country is literally falling apart, so why not spend the money needed now to fix America's roads & bridges, make buildings more energy efficient etc. etc.
You can't even compare a U.S. Airport to one in Dubai, there's a world of difference. China is spending a whopping $300 billion on high-speed rail. They're also investing heavily in green technology building solar panels. There's a lot of work that needs to be done - but the Republicans would rather spend that money on tax breaks than putting people to work.
- KILL THE BUSH TAX CUTS ALREADY!
Could America go the way of Greece? – Global Public Square - CNN.com Blogs
Would Congress simply allow the Bush tax cuts to expire - returning rates to where they were under Bill Clinton's presidency when America created almost 25 million jobs - that one action would provide the federal government with $3.9 trillion in revenues over the next decade and basically solve the deficit problem. We would still face the long-term problem of entitlements, especially health care costs, like every other rich country, but the short and medium-term crisis would be over.
The U.S. ranks 43rd in income inequality « Ranking America
[quoteAccording to the CIA World Factbook, the United States has family income distribution Gini Index score of 45.0, which makes the United States rank forty-third out of one hundred and thirty four countries in that category][/quote] In the richest nation in the world? That's disgraceful.
Oh, and don't even try to bring this up in a discussion with the Republicans because it's a lost cause.
BLITZER’S BLOG: Bill Clinton on “class warfare†– The Situation Room with Wolf Blitzer - CNN.com Blogs
Now, I actually disagree with Obama on the $250,000 mark and think it should be $500k minimum as $250k actually isn't a lot of money depending on where you live (California is particularly expensive to live in). Never mind the gall of the Oil Companies crying foul about having their subsidies cut.
Exxon Mobil First-Quarter Profit Rises as Oil Demand Fuels Price Increases - Bloomberg
First-quarter net income rose 69 percent to $10.7 billion, or $2.14 a share, from $6.3 billion, or $1.33, a year earlier, Irving, Texas-based Exxon said today in a statement.
- Simplify the tax code. This was one of Obama's campaign promises, to simply the code to the point where it can be filled out, on your own, in just an hour or so. Why hasn't this been done already? People shouldn't have to use programs like Quicken or go to Professional Accountants just to have their forms filled properly. It's a headache and needless expense.
- Close tax loopholes. A full 2/3 of America's corporations paid absolutely no taxes whatsoever!
Majority of corporations avoid federal income taxes - study - Aug. 12, 2008
NEW YORK (CNNMoney.com) -- Nearly two-thirds of U.S. companies and 68% of foreign corporations do not pay federal income taxes, according to a congressional report released Tuesday.
The Government Accountability Office (GAO) examined samples of corporate tax returns filed between 1998 and 2005. In that time period, an annual average of 1.3 million U.S. companies and 39,000 foreign companies doing business in the United States paid no income taxes - despite having a combined $2.5 trillion in revenue.
The Government Accountability Office (GAO) examined samples of corporate tax returns filed between 1998 and 2005. In that time period, an annual average of 1.3 million U.S. companies and 39,000 foreign companies doing business in the United States paid no income taxes - despite having a combined $2.5 trillion in revenue.
What The Top U.S. Companies Pay In Taxes - Forbes.com
The most egregious example is General Electric ( GE - news - people ). Last year the conglomerate generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.
- Cut the defense budget. Good lord this is a biggie. Now again, I credit Obama for (finally) having the right line of thinking on this matter - Less boots, better kit. You'll never out-man China or Russia, but you can sure as all out-tech them. But this has to be done within reason - there are billions of dollars being wasted on frivolous projects that in all likelihood will never see any practical use - like the Laser Plane that got axed. Meanwhile defense contractors are getting rich and American soldiers are dieing fighting two pointless wars.
America doesn't have to police the world, at least not on it's own. End these bullshit wars that are costing 2~4 billion a week and stick the troops where they should be - along the Mexican border. There has got to be several bases that could stand to either be shutdown or downsized. An overstretched military + failing economy has been the downfall of every great empire in history and you gotta be incredibly arrogant to think that you're the exception.
I've got more I wanna say but this is enough for now.. been writing this while camping Intulo on my MNK lol and I'd like to do something else. As to why do I even give a damn about this, being a Canadian:
1) Half my family is American, including my Dad
2) I Love the U.S & Canada both, dearly.
3) When you guys tank, we pretty much go down with you so it's in our best interest as well to see that you get your shit together. Half of our trade is with each other after all so for better or worse, Canada is inextricably linked to the United States.
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