Unemployment Extension PASSED!!!!!!! so did extended TAX cuts!!!

[RichM]

Well I disagree with you about Social Security, but you are right about everything else. However, unless you are going to also put military spending on the chopping block then none of the other cuts will matter.

I favor closing all overseas military bases except those required by treaties, allowing almost all mutual defense treaties to expire, withdrawing from the U.N., and adopting a non-interventionist policy with regard to foreign affairs. This would allow a dramatic reduction in the size of the U.S. military.

Our foreign policy would be summed up as: "Okay, rest of the world, you won. You wanted us to mind our business and stay out of your affairs, and you got it. Go do whatever you like. Blow each other up if you want to. We really don't care. But one thing: If you attack us, we'll nuke the shit out of you."

That's my opinion, and I don't expect too many people to share it. But it's worth every penny you paid for it.

-Rich

[msm859]

Well, Social Security is a farce, anyway. It's nothing but the world's biggest Ponzi scheme. I've been paying into it for... let's see... 34 years, and I'd gladly opt out of receiving benefits in return for getting back what I've paid in. Anyone under 40 or so who thinks they're going to collect a penny in Social Security should call me about a bridge I have for sale.

The deficit is a bigger problem. For the first time in history the U.S. government is at risk of losing its AAA bond rating. That means major rating houses are actually considering the possibility of the government defaulting on its obligations. The government is essentially bankrupt. Regardless of party, politicians keep insisting on taking money out of circulation through absurdly high taxes, and yet still manage to run deficits by spending it like drunken sailors. Worse, in fact: I spent several years of my youth as a drunken sailor, and I never spent money the way the government does.

Few people seem to get it: This country now has a consumer economy. We don't produce much of anything anymore because we'd rather buy cheap shit from China. Our economy is driven by consumer spending, and every dollar we take out of consumers' hands through taxation is a dollar less they can spend. Massive tax cuts are needed to stimulate the economy -- but they need to start from the bottom of the income scale, not the top.

But at the same time, spending has to be cut, even if it hurts. Unless the Libertarians take power and manage to avoid becoming as corrupt as the present bunch of hypocrites in Congress, our government is well on its way to bankruptcy; and when that happens, the collapse of the world economy will follow within minutes.

With a little luck I'll be dead by then, but I do wish we could leave a more promising future to the next generations.

-Rich

Well I disagree with you about Social Security, but you are right about everything else. However, unless you are going to also put military spending on the chopping block then none of the other cuts will matter.

[RichM]

Well, Social Security is a farce, anyway. It's nothing but the world's biggest Ponzi scheme. I've been paying into it for... let's see... 34 years, and I'd gladly opt out of receiving benefits in return for getting back what I've paid in. Anyone under 40 or so who thinks they're going to collect a penny in Social Security should call me about a bridge I have for sale.

The deficit is a bigger problem. For the first time in history the U.S. government is at risk of losing its AAA bond rating. That means major rating houses are actually considering the possibility of the government defaulting on its obligations. The government is essentially bankrupt. Regardless of party, politicians keep insisting on taking money out of circulation through absurdly high taxes, and yet still manage to run deficits by spending it like drunken sailors. Worse, in fact: I spent several years of my youth as a drunken sailor, and I never spent money the way the government does.

Few people seem to get it: This country now has a consumer economy. We don't produce much of anything anymore because we'd rather buy cheap shit from China. Our economy is driven by consumer spending, and every dollar we take out of consumers' hands through taxation is a dollar less they can spend. Massive tax cuts are needed to stimulate the economy -- but they need to start from the bottom of the income scale, not the top.

But at the same time, spending has to be cut, even if it hurts. Unless the Libertarians take power and manage to avoid becoming as corrupt as the present bunch of hypocrites in Congress, our government is well on its way to bankruptcy; and when that happens, the collapse of the world economy will follow within minutes.

With a little luck I'll be dead by then, but I do wish we could leave a more promising future to the next generations.

-Rich

[msm859]

yes that's what I mean. Does anyone know what the heck is going on with the contents of the bill? I certainly hope the dems bargained in coverage for the 99rs as this is the only chance they will ever get to do this. In just a couple weeks, good luck in getting any help for the unemployed, unless you are willing to crawl and bark like a dog for the other side.

No the 99rs are not covered. In fact anyone who makes less than $20,000/year will actually pay more in taxes next year than they did this year, as will many state and federal employees.

[helpme2010]

yes that's what I mean. Does anyone know what the heck is going on with the contents of the bill? I certainly hope the dems bargained in coverage for the 99rs as this is the only chance they will ever get to do this. In just a couple weeks, good luck in getting any help for the unemployed, unless you are willing to crawl and bark like a dog for the other side.

[tobee43]

tobee, I just asked the question on the other thread. Are the 99rs covered in this new compromise bill (with tax cuts for everyone and 13 month unemployment extension) or not????

cnn ..my "last" breaking news report:

"The U.S. House passed the $858 billion tax deal negotiated by White House, top Senate Republicans"...



and?????????

[helpme2010]

i have been so busy with er family business the only news we got is that since we were only at the second tier we are good for another 3 months....

what about the rest of these people....and still no jobs here!

tobee, I just asked the question on the other thread. Are the 99rs covered in this new compromise bill (with tax cuts for everyone and 13 month unemployment extension) or not????

[tobee43]

i have been so busy with er family business the only news we got is that since we were only at the second tier we are good for another 3 months....

what about the rest of these people....and still no jobs here!

[helpme2010]

I love how everyone in Congress is so concerned about the deficit, then suddenly you start seeing all of these additional bills and earmarks being pushed through to the tune of trillions. Ok, how about increasing the amount for inheritance tax, how about some more benefits for the rich, come on, lets add some pork barrel projects for other states, keep it going, lets go for 400 trillion more dollars in deficit!!!

[msm859]

This is the beginning of the end of Social security, plain and simple.

Yes, that was a pretty good trick they added to it. I thought extending the Bush tax cuts 2 years (which means forever) and adding $4 trillion to the deficit in the next 10 years to really insure the destruction of the middle class would be enough. They weren't even satisfied with the bonus points for the inheritance tax give away. I guess the coup de grace was setting in motion the death of social security.

[newbegin]

This is the beginning of the end of Social security, plain and simple.

[msm859]

This bill is a Trojan Horse.

[keepinitreal]

"Unemployment Extension PASSED!!!!!!! so did extended TAX cuts!!!"

Still nothing as of 5:45pm Thursday 12/16/10

[helpme2010]

I also like the idea of the flat tax system or something like a nationwide sales tax, this way you are taxed based on your spending. If you are wealthy and spend a lot, you are taxed on that level of spending. If you are poor and spend a little, you are taxed a small amount. You would still be taxed if you tried to purchase from abroad.

[RichM]

The best thing the government could do to stimulate the economy would be to make the first $150,000 of income tax-free for everyone (with offsetting cuts in government spending).

-Rich