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  • Just don't look down and you'll be alright.
  • OR.... you could just reform the tax code without crashing the economy into the ground, without defaulting on debt payments, and without making your interest burden higher.
  • How easy would it be to fix all the world's financial problems? Reset everything to zero across the board. That way, profitable ventures will continue and failing ventures will fail. Rich people who deserve to be rich will become rich again. It'll all work out, I swear.
  • Geronimo!

    Geronimo!

    Me!
  • JonnyG: Reset everything to zero across the board.


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  • JonnyG: How easy would it be to fix all the world's financial problems? Reset everything to zero across the board. That way, profitable ventures will continue and failing ventures will fail. Rich people who deserve to be rich will become rich again. It'll all work out, I swear.


    Its' called jubilee and it's pretty much the only thing left to do that isn't band aids, bullsh*t and propping up the con.
  • It's time to shake the etch a sketch, you fat bastards. And there's nothing on earth, including all that debt you're holding, that will save the nation you mooch off of if you don't.
  • The important thing here is that Buffet and all of Obama's hedge fund friends will get to keep their 15% tax rate on investments held for milliseconds.
  • cfletch13: OR.... you could just reform the tax code without crashing the economy into the ground, without defaulting on debt payments, and without making your interest burden higher.


    While tax reform is part of the solution, it is not going to get us there alone. Eliminating the tax cuts for the rich will produce about an estimated $80Billion in extra revenue per year. Remember, our deficit is $1.116 Trillion. With this extra revenue it would be $1.036Trillion. An improvement, yes; but small potatoes in the grand scheme of things.
  • In the world on the other side of the fiscal cliff, Democrats and Republicans will have no choice but to work together on tax cuts that will be fairer to the middle class and encourage economic growth.

    And what color will the sky be in this world?

    /We may get some table scraps, but the game will still be rigged in favor of the rich
    //Until we flip the board over, sending hotels, boots and Scottish terriers flying all over the place
    ///I get to be banker next time, Grandpa!
  • HeadLever: While tax reform is part of the solution, it is not going to get us there alone. Eliminating the tax cuts for the rich will produce about an estimated $80Billion in extra revenue per year. Remember, our deficit is $1.116 Trillion. With this extra revenue it would be $1.036Trillion. An improvement, yes; but small potatoes in the grand scheme of things.


    So he suggests raising the capital gains tax rate (and it should be taxed at the same rate as labor), and you give numbers on the elimination of the Bush tax cuts?

    Math Fail.
  • HeadLever: cfletch13: OR.... you could just reform the tax code without crashing the economy into the ground, without defaulting on debt payments, and without making your interest burden higher.

    While tax reform is part of the solution, it is not going to get us there alone. Eliminating the tax cuts for the rich will produce about an estimated $80Billion in extra revenue per year. Remember, our deficit is $1.116 Trillion. With this extra revenue it would be $1.036Trillion. An improvement, yes; but small potatoes in the grand scheme of things.


    BUT MAKING THE RICH FAT CATS PAY THEIR FAIR SHARE WILL SOLVE EVERYTHING!
  • david_gaithersburg: The important thing here is that Buffet and all of Obama's hedge fund friends will get to keep their 15% tax rate on investments held for milliseconds.


    You do realize that the 15% rate applies only to investments held for at least a year, right?
  • jaybeezey: BUT MAKING THE RICH FAT CATS PAY THEIR FAIR SHARE WILL SOLVE EVERYTHING!


    It won't hurt.
  • bunner: JonnyG: How easy would it be to fix all the world's financial problems? Reset everything to zero across the board. That way, profitable ventures will continue and failing ventures will fail. Rich people who deserve to be rich will become rich again. It'll all work out, I swear.

    Its' called jubilee and it's pretty much the only thing left to do that isn't band aids, bullsh*t and propping up the con.


    Bzzzt. wrong. When you are racking up trillion dollar deficits every year and then default on said debt, you are not going to be suddenly living in a world of rainbows and unicorns. You previous debtors are going to refuse to finance you debt any longer since they got burned and you ability to continue to issue those trillion dollars in deficts/debt are going to be VERY costly.

    I can't even imagine what interest rates would be in this type of secenairo.
  • We do it now or we dot it much, much harder later on.

    We really need a shock to get back to reality. Libs don't understand what interest is and that is scary.

    350 billion in interest payments on the debt right now. Will be 500 billion or so at the end of Obama's second term. From there is increases almost exponentially. These are CBO optimistic numbers as well, not scaredy cat stuff.

    Would liberals take out a mortgage knowing the principal would grow 8-10% a year, while their salary can't even make the interest payments to begin with? That is how batcrap retarded this country is acting under Democratic rule. You cannot defend or even argue that, so you just attack anyone for pointing it out. Dumb.
  • HeadLever: Bzzzt. wrong


    Not quite.

    HeadLever: When you are racking up trillion dollar deficits every year and then default on said debt, you are not going to be suddenly living in a world of rainbows and unicorns.


    So?

    HeadLever: You previous debtors are going to refuse to finance you debt any longer since they got burned and you ability to continue to issue those trillion dollars in deficts/debt are going to be VERY costly.


    The point is you stop pretending that trying to operate under a debt of that scale is feasible.

    HeadLever: I can't even imagine what interest rates would be in this type of secenairo.


    My guess is pretty damn low since the malarkey farmers whose only product is debt will need income.
  • Although I disagree with alot of the liberal DERP spread through TFA, I agree with the headline and general premise.

    We should just let all the tax cuts lapse. It will affect growth in the short term, however we need revenues to fix out fiscal situation and at some point we need to stop kicking the can down the road. Eliminating all the tax cuts will generate 5x the revenue of just eliminating the cuts for the top. What's wrong with Clinton era rates?

    Do it Obama. All you have to do is sit on your ass and we can undo these irresponsible cuts.
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