Posted by aisey Day:
1. “Yes, it is a tax cut not a tax raise.”
First, thanks for re-posting my entire commentary. But you can make this claim all you want, it doesn’t make it true.
Obama's 95% Illusion
It depends on what the meaning of 'tax cut' is.
Quote:
“For the Obama Democrats, a tax cut is no longer letting you keep more of what you earn. In their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase "tax credit." Mr. Obama is proposing to create or expand no fewer than seven such credits for individuals:”
“Here's the political catch. All but the clean car credit would be "refundable," which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer -- a federal check -- from taxpayers to non taxpayers. Once upon a time we called this "welfare," or in George McGovern's 1972 campaign a "Demogrant." Mr. Obama's genius is to call it a tax cut.”
“There's another catch: Because Mr. Obama's tax credits are phased out as incomes rise, they impose a huge "marginal" tax rate increase on low-income workers. The marginal tax rate refers to the rate on the next dollar of income earned. As the nearby chart illustrates, the marginal rate for millions of low- and middle-income workers would spike as they earn more income.”
End Quote. Link:
Obama's 95% Illusion - WSJ.com
Under the Obama tax credit program, people will receive some amount of money, averaging from 7 to 10 dollars a week. However…….
INSIDE WASHINGTON: Rude surprise awaits taxpayers
Quote:
Millions of Americans enjoying their small windfall from President Barack Obama's "Making Work Pay" tax credit are in for an unpleasant surprise next spring.
The government is going to want some of that money back.
The tax credit is supposed to provide up to $400 to individuals and $800 to married couples as part of the massive economic recovery package enacted in February. Most workers started receiving the credit through small increases in their paychecks in the past month.
But new tax withholding tables issued by the IRS could cause millions of taxpayers to get hundreds of dollars more than they are entitled to under the credit, money that will have to be repaid at tax time.
End Quote. Link:
http://www.breitbart.com/article.php...cle=1&catnum=3
The government giveth, the government taketh away. Or in other words:
"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others." Ayn Rand
2. “So that's another yes, the stimulus is working. Furthermore, indicator say that the recession is over.”
Bernanke said the recession was “very likely over.” But I understand how that would be good enough for you, especially given the propensity for the Obots to discount what is right before their eyes.
Bernanke says recession ‘very likely over’
Quote:
“Bernanke said the economy likely is growing now, but he warned that won’t be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising.”
“From a
technical perspective, the recession is very
likely over at this point,” Bernanke said in responding to questions at the Brookings Institution. “It’s still going to feel like a
very weak economy for some time because many people will still find that their job security and their employment status is not what they wish it was.”
End Quote. Link:
http://www.msnbc.msn.com/id/32858855...my_in_turmoil/
So, “technically”, the recession is “likely” over………YEA!! But if the recession is over, why is the discount rate at .5%, and the fed fund rate at .25%?
As for the stimulus:
U.S. Economy Gets Lift From Stimulus
Quote:
“But there's little agreement about which programs are having the biggest impact. Some economists argue that efforts such as the Federal Reserve's aggressive buying of Treasury debt and mortgage-backed securities, as well as government efforts to shore up banks, are providing a bigger boost than the administration's $787 billion stimulus package.”
“Dave Anderson, chief financial officer of Honeywell International Inc., said the stimulus package actually froze business activity at first as firms tried to figure out how they could benefit from the government spending. The $787 billion package "created actually a slowdown in order activity in terms of the flow that we would normally have anticipated," Mr. Anderson said at a conference sponsored by Morgan Stanley. "We anticipate that that's going to actually pick up in the second half of the year. I think it's not unreasonable to see several hundred million dollars of orders."
"I don't think the stimulus was necessarily as effective as people claimed it to be or claim it will be," said Joseph LaVorgna, chief U.S. economist with Deutsche Bank Securities Inc.”
“Stuart Hoffman, chief U.S. economist for PNC Financial Services Group, said the stimulus package "caused this bit of a concentrated burst [that] probably will exaggerate the pace of economic growth," since some areas, such as auto sales, could fall back to low levels.”
End Quote. Link:
U.S. Economy Gets Lift From Stimulus - WSJ.com
If you read the article, you find that the majority of the named economist actually quoted give credit to the Fed's monetary stimulus and not to Obama’s stimulus package. In addition, not one of the named economists specifically cites the stimulus as having had any positive effect yet.
3. “Facts are, deficits soared under Reagan's & Bush sr.'s leadership, came down under Clinton's and resoared under Bush jr's.”
Your contention that Reagan is solely to blame for this is false.
4. “Which Obama has continued.”
For my response to this, go here and read post number 19:
http://www.christianforums.com/t7401765-2/
5. “Health care in this country can and does bankrupt people”
So does divorce, the loss of a job, natural disaster, an insane wife spending on the credit cards like mad because she thinks she is “entitled”or a whole host of other circumstances. Do you want the government to regulate and control all of these conditions as well? Your point is meaningless.
6. “Not bankrupt and won't be if steps are taken to remedy it. Medicare was fine until Bush's prescription plan.”
Medicare has a finite amount of money available which will run out over a short amount of time. Short of infusing it with more federal funds raised by additional deficit spending, how is it going to be saved? Oh yeah, Obamacare…
And once again the default position of the Obot’s, it is all Bush’s fault.
7. “Well, he's not.”
Did you stick your tongue out at the screen when you wrote this? Typical dodge of the point however.
8. “Hey, the claim of 2,000,000 was made. Don't blame the messenger.”
When the message is to divert and prevent discussion of why those people went to DC to protest to begin with, I will blame the messenger.
9. “Unemployment is not higher than at any other time in history, even in the history of the USA. Read a history book.”
Hmmmm…
U.S. unemployment rate jumps to 26-year high of 9.7%
Quote:
“The U.S. unemployment rate jumped to a 26-year high of 9.7% in August as nonfarm payrolls fell by 216,000, the 20th consecutive monthly decline, the Labor Department estimated Friday.”
“An alternative measure of unemployment that includes discouraged workers and those forced to resort to part-time work rose to 16.8% from 16.3%, marking the highest on record dating back to 1995.”
End Quote. Link:
http://www.marketwatch.com/story/une...-97-2009-09-04
And…..
Industrial world's jobless to hit new high
Quote:
“Unemployment in the industrialized world will hit its highest level since World War II next year, surpassing the current peak, as the global economy looks set for only a timid recovery in 2010, an international organization said in a report Wednesday.”
End Quote. Link:
http://www.msnbc.msn.com/id/32873653...orld_business/
And…….
Real US unemployment rate at 16 pct: Fed official
Quote:
“The real US unemployment rate is 16 percent if persons who have dropped out of the labor pool and those working less than they would like are counted, a Federal Reserve official said Wednesday.
If one considers the people who would like a job but have stopped looking, so called discouraged workers, and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 percent to 16 percent, said Atlanta Fed Chief Dennis Lockhart.
End Quote. Link:
http://www.breitbart.com/article.php...show_article=1
So maybe not higher than anytime in history, but my point is still valid. The unemployment rate has reached all time highs, here and around the world. Read a newspaper.
10. “Those who enjoy hate-radio.”
Hate-radio being defined as any radio talk show on which the host says anything critical of President Obama in any manner, or says anything with which you disagree with. So much for rationality.
11. “Teabagger is the normal term for member of the Teabag movement.”
Because that is what Keith Olberman or Bill Maher called them, which makes it normal. At least to you.
“What do you call them?”
Americans. You know, people who live in this country, obey the law, pay taxes, and protest within their right to protest?
“Who has used the term "rim-jobber"?”
Joy Juice and Die-happy.
“Who has said the teabaggers are perverts? Mind of the beholder.”
Re-read my post. I said “only a liberal would take an everyday term, assign it a disgusting meaning, and then use it in attempt to claim that someone else is a pervert.”
And this is exactly what they are doing. If someone hears some talking head like Olberman use the term “tea bagger” with that usual snide and arrogantly disdainful smile on his face, and understands what he is trying to imply, they are not the ones with the problem. It is all of the juvenile minded leftist out there who use the term and then snicker at each other because they think they are being clever who have the problem.
