Biggest Obama disappointment so far ?

[gemstone]

People hate when I say this, but once this recession crap is over, he should raise the taxes of everyone over $40k. Either that, or introduce a federal sales tax. Until the nation can get itself into a solid financial position, it should not be cutting anymore taxes. Once some of the debt is paid down and there are regular surpluses, then the taxes could be chomped down.

Of course, the same can be said with big spending. Yes, I believe in some programs like health care, welfare and education, but if items do not fit specific mandates, they should go. Government departments do not have to be axed, but the fat and bureaucracy can be cut.

Do you believe taxes should always increase?

[For-Life]

Make me vomit. When your democrates added 8000 earmarks to the omnibus bill, tell me why do we have to increase taxes? Why are we adding more programs and government spending? Let me see, would it be to make sure more people go on the government dole? I don't have to pay for medical insurance, college, my home(if foreclosed on). When more people are taking money from the government because it easy, I guess we should taxes on those people still working, paying their bills(take responsiblity for them), saving for college for their kids and encouraging them to responsible for their own education. I find it remarkable that people forget that the orginial "New Deal"took over 10 years to resolve anything and we had WWII to help.

As for businesses, tell me how many of you work for doctors? Do you think if they are taxed higher, you will get something from them in raises,bonus, or incentives. How about sucessful labs who are taxed higher, are any of you going to loving the increase in your cost of goods? How many high end opticals are going to love losing money because the wealthy patients have less money to spend on 1500.00 frames?

I realize that alot of the crew here love Obama, because he promised change, but have you really looked at the change, and thought how in the long run it will achieve little.

christina
ps I did GW to expand the government and spend too much money too

I did say cut back spending, so it is not like I am only saying raise taxes. You have to increase taxes because even before this spending, you do not have enough revenues to cover the expenses.

[For-Life]

Do you believe taxes should always increase?

When you have huge deficits year after year, you have to increase revenue and decrease expenses. Simple practice.

So no, I do not believe taxes should always increase.

[DragonLensmanWV]

Do you believe taxes should always increase?

Do you think taxes should always go down?

[Johns]

Do you think taxes should always go down?

Whenever possible?




YES!!!:cheers::cheers::cheers:

[Pete Hanlin]

Personally, from my knowledge, the leave everything alone approach would have doomed us.

Nothing is exactly what should have been done. This was the view of the first President Bush (and it was one of the reasons he lost his re-election bid... because he was supposedly "out of touch" with the people since he didn't want to generate a bunch of deficit spending to shorten a recession). Turns out the first Bush was absolutely right, since the economy was on the road to recovery even as Clinton took office- and we were spared from a bunch of additional "relief" spending.

Recessions happen for reasons- usually as an adjustment to some sort of national ponzi scheme for which the market has fallen. In the 90s, the market fell for the dot.com ponzi scheme with super-inflated stock prices... and an adjustment took place.

Now, we are faced with an adjustment after unrestrained real estate speculation/lending. The system requires a recession to readjust. Trying to "buy our way out of a recession" will only result in huge deficits and will only delay what is a natural, and inevitable, process.

The $800 billion is perhaps the worst thing that could have been done (the money shelled out by the Bush admin was also a bad idea). Certain institutions may need to be shored up to prevent total economic collapse, but all of this "stimulus" talk is just so much misguided baloney!

[shanbaum]

Nothing is exactly what should have been done. This was the view of the first President Bush (and it was one of the reasons he lost his re-election bid... because he was supposedly "out of touch" with the people since he didn't want to generate a bunch of deficit spending to shorten a recession). Turns out the first Bush was absolutely right, since the economy was on the road to recovery even as Clinton took office- and we were spared from a bunch of additional "relief" spending.

Wow. I suppose you will be surprised to learn that the largest budget deficits in the history of our nation (in constant dollars), prior to those during the W administration, took place during Poppy's tenure.

Now, we are faced with an adjustment after unrestrained real estate speculation/lending. The system requires a recession to readjust. Trying to "buy our way out of a recession" will only result in huge deficits and will only delay what is a natural, and inevitable, process.

The $800 billion is perhaps the worst thing that could have been done (the money shelled out by the Bush admin was also a bad idea). Certain institutions may need to be shored up to prevent total economic collapse, but all of this "stimulus" talk is just so much misguided baloney!

This is where Woody Allen pulls in John Maynard Keynes from stage left to say, "You obviously know nothing about economics," after which, Woody turns to the camera and says, "Wouldn't it be great if real life were like this?"

[Pete Hanlin]

Robert- we just spent $800 billion in extra deficit spending in an effort (misguided, IMO- perhaps not yours) to put off a recession.

Put whatever spin you like on that (compare it to our spending on the war, deficit spending under some other administration), but we're spending a lot of additional money we don't have on (again IMO) a dubious scheme.

Maybe I lack your obviously profound knowledge of- well- everything ;^), but I have a hard time getting my thoughts around $800 billion in "stimulus spending." Seems we're following up reckless private spending/speculation with massive government spending/speculation.

BTW, enjoy Italy- unfortunately, my participation in the event was cancelled...

[fjpod]

Back to topic. Look...W was spending it on war and exporting democracy to the ends of the earth. O wants to spend it on US citizens and the US economy. Pick your poison. Either way we are in debt...Priceless.

[gemstone]

Do you think taxes should always go down?

Too many people think "Well the shoes I buy keep increasing in price, I guess taxes should go as well." Well the thing is, when the shoes went up, so did taxes. Automatically. Taxes are bases on a rate. Answering your question, no not always. I do think they are way over due a drop.

[For-Life]

Too many people think "Well the shoes I buy keep increasing in price, I guess taxes should go as well." Well the thing is, when the shoes went up, so did taxes. Automatically. Taxes are bases on a rate. Answering your question, no not always. I do think they are way over due a drop.

not too many people want tax increases all of the time. Taxes tend to not increase that much, compared to drops. Right now, the government does not have enough taxes to pay for its operations. AND with significant cuts in spending, the government does not have enough money to pay for its expenses. Reagan and Bush have been known for their tax cuts, and have also been known for their debt.