Obama: Blah blah blah tax plan blah blah blah
He's "100% committed" to letting the Bush tax cuts expire for those with taxable incomes above $250,000. He was "committed" to something quite similar when he ran for office in 2008. Did he do it, even when he had both houses of Congress under Democratic control? No. Would he get it done if re-elected, under a split or Republican Congress? Of course not. Not even if he really wanted to. Which we doubt.
We may vote for the President for the Supreme Court appointments, but on taxes, we won't get fooled again.
| Posted at 8:44 AM | Permalink |
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Comments (10)
pretty much...
And is anyone but the NYT outraged over the LIBOR bankster scandal in GB?
There won't be any more controls on the big banks either.
Posted by portland native | July 9, 2012 9:41 AM
This election is very important. It's our chance to pick who works for Wall Street for the next 4 years.
Posted by Bill McDonald | July 9, 2012 9:51 AM
"letting the Bush tax cuts expire"
C'mon, odds are they are going to renew them after the election - Unless the economy has a Lazurus-like resurrection.
Besides, why would anyone believe a politician when he talks about taxes.
"And is anyone but the NYT outraged over the LIBOR bankster scandal in GB?"
I don't know why it doesn't get much press over here either since a bunch of loans have their rates tied to LIBOR (instead of the Fed Funds rate).
My guess - The media probably thinks we're too stupid to care about anything that takes longer than 15 seconds to explain.
Posted by Steve | July 9, 2012 12:03 PM
Obama extended the tax cuts once and most likely will again. When do you stop calling them Bush's tax cuts and start calling them Obama's tax cuts?
Personally I'm in favor of those cuts but since most dems are not I can see why they want to keep Bush's name attached.
Posted by Darrin | July 9, 2012 12:20 PM
Roubini: My 'Perfect Storm' Is Unfolding Now
The man who predicted the housing crisis says four worrisome factors are unfolding right now.
By Ansuya Harjani | CNBC
"Dr. Doom" Nouriel Roubini, says the "perfect storm" scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China.
Full article at http://finance.yahoo.com/news/roubini-perfect-storm-unfolding-now-104907590.html
Notable quote:
Roubini said that unlike in 2008 when central banks had "policy bullets" to stimulate the global economy, this time around policymakers are "running out of rabbits to pull out of the hat."
Policy easing moves by the European Central Bank (ECB), Bank of England (BoE) and the People's Bank of China (PBoC) last week did little to inspire confidence in global stock markets.
"Levitational force of policy easing can only temporarily lift asset prices as gravitational forces of weaker fundamentals dominate over time," he said.
Posted by Mojo | July 9, 2012 12:36 PM
The description of insanity comes into play here.
No longer do I continue endlessly playing the game of lessor of two evils - at some point the most patriotic thing to do is stop legitimizing the whole charade.
In my opinion, that time is now.
Posted by tim | July 9, 2012 12:55 PM
Don't forget about the Laffer Curve. Greedy government can either kill incentives to work, or encourage effort and prosperity. Why doesn't Obama try to just lower the cost of government so we won't have to be taxed a lot? It takes a big man (or woman) to make the big cuts while tax and spend is the easier solution for the career politician.
http://www.youtube.com/watch?v=fIqyCpCPrvU
Posted by nolo | July 9, 2012 1:02 PM
The Laffer Curve? Is this a joke? Are you Ben Stein?
Next you're going to extol the virtues of voodoo/trickle down economics and tell me an anecdotal story about a welfare queen.
If it "worked" in the 80's it must still be good policy right?
You might want to see how those 1980s supply side theories worked on the actual deficit.
Posted by Raleigh | July 9, 2012 2:06 PM
OH god the Laffer Curve...bad math when it was used as an excuse to destroy the US economic base, and bad math now.
Posted by JO | July 9, 2012 2:23 PM
"You might want to see how those 1980s supply side theories worked on the actual deficit."
A little bit better than the trillions Obama and the Fed have given to banks I'd venture.
Posted by Steve | July 9, 2012 4:00 PM