Some musings on the Tax Deal

#1
volinbham

volinbham

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#1
1. Had to be done. I think both sides win with the temp extension. Rs get the full range of rate stability while Obama gets to put it back on the table at election time.

2. If the economy improves, who gets ownership? Will be interesting arguments.

3. Supply-side returns: Stimulus Part Deux - Little Pauly Krugman (sorry Bam) should be happy. This is another big stimulus bill, particularly the Payroll tax break and the UEB extension. Predictably he won't be because he wants the government to spend the money not individuals.

4. Supply-side returns (continued) - the Payroll tax break should be supported by all that support UEB since it is the same argument - direct stimulus via more money in the hands of the public. My bet is those screaming loudest for UEB will hate the Payroll tax break because it's not largess at the hands of the government (a check from Uncle Sam) - it is simply less of a jack on your pay.

5. Apparently the short term (grow the economy) far outweighs the long term (deficits and debt). This one is going to cost. That said, I'd rather see Supply side than deficit spending as a stimulative input.

6. It's fun to see the left having an absolute hissy fit about this. They are yelling at Obama, he is yelling at them. And I thought it was supposed to be Rs that were fragmented. As usual, the Big Tent looks like a freak show.

7. Obama showed he DOES want to be a 2-termer. He's betting this will help him with the Independents and that the left will have to go along. It is an interesting gamble. The rumblings of a primary challenge are growing. The sniping is growing. He's losing his message more and more. Should be interesting to watch.
 
#2
#2
Isn't this almost exactly what Clinton did about half-way through his first term? Republicans gained House majority and he magically became more of a Centrist?
 
#4
#4
DC Vol said:
Isn't this almost exactly what Clinton did about half-way through his first term? Republicans gained House majority and he magically became more of a Centrist?
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I think the American people will see through Oblabla this time. It doesn't matter though, government will not be cut. it will grow and grow.
 
#5
#5
May help for now, I don't know that this is going to work out all too great in the long term.

For now, it gets both sides what they wanted, though.
 
#6
#6
The individual taxpayer got a reprieve, if not a pardon.

Talk about a tax deal???

Look at the Government Motors/UAW deal:

American Thinker: Crony Car Capitalism

First is the news that the "new" GM walked away from the crony bankruptcy proceedings with a huge tax break -- one worth up to $45 billion. It was revealed in the paperwork filed for its IPO that the Obama administration gave the new GM a sweetheart deal: it will be allowed to carry forward huge losses incurred by the "old" GM prior to its bankruptcy. Of course, the IRS doesn't allow the new companies that emerge from bankruptcy to write off their old losses. But the feds decided to waive that rule for companies bailed out by TARP.

Thus, the new GM will save about $45.4 billion in taxes on future earnings, which may allow it to escape taxes for the next twenty years. This "tax-loss carry-forward" is a huge plum, an asset most of GM's rivals don't have, and one that no doubt led to its artificially high IPO stock price.

This brings up the second revelation: namely, the machinations by the Obama administration during the IPO that consciously helped the UAW make out like bandits.

The UAW was given a big chunk of new GM in the crooked bankruptcy settlement. To be precise, the very monster that drove GM off the cliff -- the UAW -- received 35% of the stock in the new company. With the sale of the stock in the new GM, the UAW earned an immediate $3.4 billion in selling about one third of its shares.

Moreover, if the UAW can get $36 per share for the other two-thirds of its shares, it will walk away breaking even -- meaning it will walk away with its outrageously bloated pension and health care fund fully intact. The taxpayer, on the other hand, hasn't fared well at all.

In fact, the Obama administration screwed the taxpayer just as thoroughly as it pampered the UAW. The taxpayer put $49.5 billion into GM in the bankruptcy, not to mention all the funds shoveled at the company prior to that. The Treasury recouped only a wretched $13.7 billion in the IPO, mainly because the Obama administration -- in yet another unprecedented gift to the union -- announced publicly that it would not sell any more stock for the next six months. This enables the UAW to dump its shares whenever it wants at a much higher price than it could get if the Treasury were also selling. The taxpayers will almost certainly get a lower payout, and they will never recoup their forced investment in these dinosaurs -- all to enable the UAW to walk away made whole.
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There are more interesting details in the article.
 
#8
#8
DC Vol said:
Isn't this almost exactly what Clinton did about half-way through his first term? Republicans gained House majority and he magically became more of a Centrist?
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Reminds me of a sixties comedy album; "Isn't this where we came in?"

Some people have been suggesting that I tone down my rhetoric when criticising Obama, I guess Barry didn't get the memo.

Obama Says You’re a Terrorist! (And for Once, That’s Bad) | Floyd Reports

Although the president’s anger was obvious yesterday, his logic was not. Obama began by defending his compromise to extend the Bush tax cuts for all Americans in exchange for allowing some Americans to collect unemployment checks for three years. He argued, without his speedy action, evil Republicans would have killed tax cuts for the middle class. “I’ve said before that I felt that the middle-class tax cuts were being held hostage to the high-end tax cuts,” he said, repeating a perpetual Democratic talking point.

(See video above.) “I think it’s tempting not to negotiate with hostage-takers, unless the hostage gets harmed,” he said. (Unconscious message to would-be hostage-takers: if you ever kidnap an American, hack off a hand, and we’ll talk.) He continued, “In this case, the hostage was the American people and I was not willing to see them get harmed.”
---------------------------------------------------

He pivoted to trashing another familiar foe, saying, “once John Boehner is sworn in as Speaker, then he’s going to have responsibilities to govern. You can’t just stand on the sidelines and be a bomb thrower.”
-------------------------------------


As though he had not sufficiently demonized his opponents, Obama added he was “itching for a fight on a whole range of issues.”
---------------------------------------------

So, where are the calls for civility and moderation? Where are the hand-wringing cries of incitement and extremism from the media, civic leaders, and mainline church clergy?
-----------------------------

It is a tried-and-true tactic of the Left, from blaming the assassination of JFK on ultra-conservatives — although Lee Harvey Oswald was a Communist who defected to the Soviet Union — to Bill Clinton’s decision to blame the Oklahoma City bombing on Rush Limbaugh.
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Even today the left blames the OKC bombing on right wing Christian whites when in real life it was moslems who engineered that attact from the beginning, they just found a convenient fall guy in Timothey McVeigh.

Just how stupid do people like Obama and Clinton think the American people are??
 
#9
#9
Cutting payroll by 2% will not impact 99% of all small business. For any business to feel the effects of that they would have to employ 100 or more. We're talking gas money for any business with less than 10 employees.
 
#10
#10
It is a slow day in the small Saskatchewan
town of Pumphandle and streets are deserted.

Times are tough, everybody is in debt, and
everybody is living on credit.

A tourist visiting the area drives through town,
stops at the motel, and lays a $100 bill on the
desk saying he wants to inspect the
rooms upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner
grabs the bill and runs next door to pay his debt
to the butcher.

The butcher takes the $100 and runs down
the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads
off to pay his bill to his supplier, the Co-op.

The guy at the Co-op takes the $100 and
runs to pay his debt to the local prostitute,
who has also been facing hard times and has had to
offer her "services" on credit.

The hooker rushes to the hotel and pays
off her room bill with the hotel owner.
The hotel proprietor then places the $100
back on the counter so the traveler will
not suspect anything.

At that moment the traveler comes down
the stairs, states that the rooms are not
satisfactory, picks up the $100 bill and leaves.

No one produced anything.

No one earned anything...

However, the whole town is now out of debt
and now looks to the future with a lot more
optimism.

And that, ladies and gentlemen, is how a
"stimulus package" works.
 
#13
#13
IBlvNTmWrk said:
It is a slow day in the small Saskatchewan
town of Pumphandle and streets are deserted.

Times are tough, everybody is in debt, and
everybody is living on credit.

A tourist visiting the area drives through town,
stops at the motel, and lays a $100 bill on the
desk saying he wants to inspect the
rooms upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner
grabs the bill and runs next door to pay his debt
to the butcher.

The butcher takes the $100 and runs down
the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads
off to pay his bill to his supplier, the Co-op.

The guy at the Co-op takes the $100 and
runs to pay his debt to the local prostitute,
who has also been facing hard times and has had to
offer her "services" on credit.

The hooker rushes to the hotel and pays
off her room bill with the hotel owner.
The hotel proprietor then places the $100
back on the counter so the traveler will
not suspect anything.

At that moment the traveler comes down
the stairs, states that the rooms are not
satisfactory, picks up the $100 bill and leaves.

No one produced anything.

No one earned anything...

However, the whole town is now out of debt
and now looks to the future with a lot more
optimism.

And that, ladies and gentlemen, is how a
"stimulus package" works.
Click to expand...

Now I understand why I never see a 'help wanted' sign over at the Co-op! :loco:



obama-deficit-10.jpg


So two Canadian girls went on vacation to Australia.

They were sitting in a tavern having a couple of cool ones on hot day and a young Aussie walked in and asked some of his friends who the shielahs were.

One said; "Dunno, go ask them."

So he walked over to their table and asked; "Where are you shielahs from?"

One said; "Saskatoon, Sakatchewan."

He turned to the other and she said; "Athabaska, Alberta."

He walked back over and sat down at the table with his friends.

One of them asked; "So where are the shielahs from?"

He replied; "Dunno, they don't speak English."
 
#15
#15
BeecherVol said:
Did anyone catch the Megan Fox/Anthony Weiner interview yesterday?
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Nope, what did they have to say??


Three Fingers of Politics Blog Archive Barack Obama ? Enemy of the Revolution

t has come to light that “Comrade” Obama has abused his position as Leader, Premier and Party Chancellor to sell out our revolutionary aspirations in unauthorized, secretive negotiations with the enemies of the people’s democracy. His negotiations will allow the exploiters to continue to withhold a substantial portion of what they owe the State — a substantial portion of their ill-gotten income ripped from the calloused hands of the workers and diverted to fund their soft, bourgeois lifestyle.

To allow the imperialist despoilers of the Earth to continue to wallow in their decadence at the expense of the masses in exchange for a few crumbs from the capitalist table is unacceptable.

Clearly, this is a crime against our Glorious State, against the Class Revolution and against the People.

As I said, this revelation brings no joy. Comrade Obama has stood with us on many a bloody field of the Revolution. From vanquishing the imperialistic Chrysler creditors and securing the GM motherland for the UAW, to breaking the student loan industry oppression, to routing the greedy capitalists who wished to deny healthcare to the proletariat, his heroism was noted by a grateful media and celebrated on the ethanol farms and in the factories and faculty lounges across the glorious nation. The Huffington Post, Washington Post and New York Times all sang of his efforts to ensure the Workers Paradise.

But something has happened to our once dear comrade. Something sinister. He has been corrupted and debauched by financiers and industrialists, the imperialists and the militarists. Oh, he still talks of them as “enemies,” but the evidence shows he actually met with messrs. Boehner and McConnell. We are told he may have shaken their hands, and even offered them soft-drinks!
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Base%2BJumping.jpg
 
#16
#16
Very extensive interview. Some of the points.

He is dead set against Obama's compromise.
Fox asked him if he thought the inheritance tax was fair, not the percentage taxed, but the idea itself. He dodged the question by trying to answer what percentage it should be taxed. He finally got agitated enough to say that the money was not earned, thats why it should be taxed. Basically its not fair to those that are not left anything.
 
#18
#18
MG1968 said:
did they put their heads together and accumulate an IQ somewhere near room temperature?
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Not sure on their IQ.

But he come off as extremely arrogant more so than most.
She insisted that he answer the questions, and pushed him til he finally did.
 
#19
#19
Using Weiner's logic if a husband earns $, pays taxes on it then gives it to his kids or wife as spending money then they have unearned income that should be subject to a high tax rate.
 
#20
#20
volinbham said:
Using Weiner's logic if a husband earns $, pays taxes on it then gives it to his kids or wife as spending money then they have unearned income that should be subject to a high tax rate.
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This would sum it up pretty well.

He sees it as not fair to another family where maybe the neither the husband or wife have a job.
 
#21
#21
Wait, why is Megan Fox interviewing Anthony Weiner over taxes?
 
#23
#23
BeecherVol said:
Megan Kelly? Megan something.

Fred Flinstone could have been asking the questions and it wouldn't have changed the result much.
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Oh.

I had the picture of Megan Fox interviewing a politician.

Weiner is acclaimed in Democratic Underground circles, and particularly among the Jon Stewart fan-base (College Roommate).

I'm not exactly fond of him, he is trying to edge his away into the NYC Mayor's office. I wouldn't think of him as a tax-policy expert.

Dude is on Maher/Realtime all the time.
 
#24
#24
bam15 said:
Oh.

I had the picture of Megan Fox interviewing a politician.

Weiner is acclaimed in Democratic Underground circles, and particularly among the Jon Stewart fan-base (College Roommate).

I'm not exactly fond of him, he is trying to edge his away into the NYC Mayor's office. I wouldn't think of him as a tax-policy expert.

Dude is on Maher/Realtime all the time.
Click to expand...

Policies and beliefs aside, this dude is just hard to like. Politician or not.
 
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