MitsuStyle

MitsuStyle (http://www.mitsustyle.com/forums/index.php)
-   The Parking Lot - On & Off Topic (http://www.mitsustyle.com/forums/forumdisplay.php?f=21)
-   -   I just want to take a quick poll... (http://www.mitsustyle.com/forums/showthread.php?t=20697)

Matt D. 09-25-2008 03:08 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by JET (Post 257699)
Tom, your last post just shows how ignorant you are and how blind to the facts you are. Have I ever stated that I am voting for McCain? No, I never have. I am more educated than you are Tom and understand more about economics than you ever will. I like you as a person, but you get swayed so easily on political views. I wouldn't have a problem with this except that you go preaching to everyone on here like you actually have a clue what you are talking about. You spread a ton of BS around here and act like you know what you are talking about. Luckily many of the people on here see through your BS. People like you give other liberals a bad name.

:score010:

JET 09-25-2008 03:20 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by tpunx99GSX (Post 257702)
Please do explain your qualifications that make you such an expert.

I Dont buy into the bullshit that McCains campaign spreads. Barak is a hell of a lot more believable then McCain ever will be in my eyes. If he is so confident in his views, then why is he trying to cancel debates, why is he trying to get palin out of the debates. Hes running from a fight like a coward.
All of the items i have talked about are able to be sourced. Just ask and ill source it, if i havent already.

It's not that I am such an expert, just look at the person I was comparing myself to. Here is quote you made: "I make $60k a year, and my gross is $2307 they take out $697.04 leaving me with $1610 per check. I could use that $700 and make that go along way to making me enter that upper class rank. " Now if you think $697 is half of $2307, I rest my case.

You look at the far left side of things and take them as gospel. There are also people that are far right that would do the same thing. Look up the word "biased" in the dictionary once. I am in the middle and am not real happy with either candidate, I was a Ron Paul supporter. McCain seems mediocre, but Barrack just plain scares me.

How can universal healthcare be a good thing? The government sucks are running things (IRS, social security, medicare, etc.). Why the hell do I want my LIFE to be in their control?? Do some research on goverment run healthcare (Canada, Sweden, etc.) and see if you think it works. Everyone can go in at no charge, why not go in for the sniffles? It will choke the system.

How about gun control? Obama is against concealed carry in any state, voted for a 500% tax increase on ammunition and guns while in IL. He is also for banning most guns and allowing gun companies to be sued if their guns are used in a crime. Should Boeing be sued because their jets were used in the 9/11 attacks? That is just stupid.

You talk about McCain being run by lobbyists. How do you fast track a political career like Obama did? You do anything you can to get to the top. I wouldn't think those would be good things.

Matt D. 09-25-2008 03:39 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by JET (Post 257706)
How can universal healthcare be a good thing? The government sucks are running things (IRS, social security, medicare, etc.). Why the hell do I want my LIFE to be in their control?? Do some research on goverment run healthcare (Canada, Sweden, etc.) and see if you think it works. Everyone can go in at no charge, why not go in for the sniffles? It will choke the system.

Canadian healthcare is a nightmare. The waiting lines are so long that people are dying before they get help. People who need surgery sometimes end up becoming too sick to have surgery by the time they reach the front of the line and end up dying because of that. A quick search will turn up many reports of how tragic it is.

Tom, communism works in theory too.

1QUICK4 09-25-2008 03:40 PM

Re: I just want to take a quick poll...
 
As far as taxes can anyone on here say there taxes have gone up dramatic amounts in the last 8 years?

I am still getting the same % back damn near every year since 2000. I have gotten a refund every year I've ever filed taxes. I have never had to pay in in my lifetime yet.

I don't see how the tax cuts for 250K plus salaries are affecting you Tom. Unless you're claiming higher than you should you should not be paying in.

Matt D. 09-25-2008 04:45 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by 1QUICK4 (Post 257709)
As far as taxes can anyone on here say there taxes have gone up dramatic amounts in the last 8 years?

I am still getting the same % back damn near every year since 2000. I have gotten a refund every year I've ever filed taxes. I have never had to pay in in my lifetime yet.

I don't see how the tax cuts for 250K plus salaries are affecting you Tom. Unless you're claiming higher than you should you should not be paying in.

Yep. The people like us who pay in don't know WTF they're doing, and the ones who get more than a couple hundred back aren't claiming enough.

Project2G 09-25-2008 04:47 PM

Re: I just want to take a quick poll...
 
McCains daughter is hot. I was listening to her on the radio the other day.
http://halfsigma.typepad.com/photos/...han_mccain.jpg

tpunx99GSX 09-25-2008 04:56 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by JET (Post 257706)
It's not that I am such an expert, just look at the person I was comparing myself to. Here is quote you made: "I make $60k a year, and my gross is $2307 they take out $697.04 leaving me with $1610 per check. I could use that $700 and make that go along way to making me enter that upper class rank. " Now if you think $697 is half of $2307, I rest my case.

The whole half thing was a meant as an exaggeration. I know 700 is not half of 2300. Gimme a little credit.
Im no expert as well. But when i went to Bemidji State University i was minoring in Political Science and Majoring in MIS (includes classes like Economics, Business analytics and analysis). The minor was just because i was interested in it. But then i finished school at Century College majoring in IT.
Quote:

Originally Posted by JET
You look at the far left side of things and take them as gospel. There are also people that are far right that would do the same thing. Look up the word "biased" in the dictionary once. I am in the middle and am not real happy with either candidate, I was a Ron Paul supporter. McCain seems mediocre, but Barrack just plain scares me.

I am still not seeing how Barak is Scary? Everyone that says that never seems to back their statements up with any valid, source driven points.
Quote:

Originally Posted by JET
How can universal healthcare be a good thing? The government sucks are running things (IRS, social security, medicare, etc.). Why the hell do I want my LIFE to be in their control?? Do some research on goverment run healthcare (Canada, Sweden, etc.) and see if you think it works. Everyone can go in at no charge, why not go in for the sniffles? It will choke the system.

My sister Married a guy from Austria, he said the socialized healthcare system works great over there. No lines, able to get in right away.
I had a roomate that was from Germany, Loved the socialized system as well. The fact that she could go to the hospital no matter what provider she is with is great.
It gives me peace of mind that if i were to lose my job for some reason that My Fiance, my son and I would all be able to get to a hospital without any major bills.
Quote:

Originally Posted by JET
How about gun control? Obama is against concealed carry in any state, voted for a 500% tax increase on ammunition and guns while in IL. He is also for banning most guns and allowing gun companies to be sued if their guns are used in a crime. Should Boeing be sued because their jets were used in the 9/11 attacks? That is just stupid.

When you sell items that their only purpose is to kill someone or something im fine with that. I believe that if guns are sold without the proper background check hell yes people injured should be able to sue.
Quote:

Originally Posted by JET
You talk about McCain being run by lobbyists. How do you fast track a political career like Obama did? You do anything you can to get to the top. I wouldn't think those would be good things.

Source?
McCain's head guy was getting paid by lobbyists just last month. And i can source that.

Quote:

Originally Posted by 1quick4
As far as taxes can anyone on here say there taxes have gone up dramatic amounts in the last 8 years?

I am still getting the same % back damn near every year since 2000. I have gotten a refund every year I've ever filed taxes. I have never had to pay in in my lifetime yet.

I don't see how the tax cuts for 250K plus salaries are affecting you Tom. Unless you're claiming higher than you should you should not be paying in.

Its not that taxes have gone up so much as the fact that the superrich pay a much less of a percentage then the lower and middle class.
If we want our people to prosper and everyone to be happy and healthy and live a good life, then you would want the lower and middle class to have less taxation, and the people who already are content in their lifestyle and have more then enough money should have to pay a little more so that it will benefit our country as a whole. Stop the Greed. Its getting harder and harder for the middle and lower classes to keep their head above water.
Its also not that the taxes have gone up, but the dollar has been tanking more and more each year. Just another form of eliminating the middle class.

The reason John McCain scares me is that he makes too many decisions in the moment, without thinking it through and getting all of the facts. Sarah Palin is the same way if not worse.
As well as their speaking ability. John McCain is not at all good at fielding questions on the fly, which is a huge strongpoint of Obama. In my eyes, if a President cannot speak to the nation he is leading, he should not be in the whitehouse. Communication problems start wars. Look at the great speaking ability of Bush (yeah right) and look at what hes gotten us into.

Honestly in the end I really feel that Obama will take this one, I think McCain is digging his own grave, the media is exposing him left and right and enough people watch TV so i think the polls are going to be much different then the actual election.

asshanson 09-25-2008 05:32 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by tpunx99GSX (Post 257721)
Its not that taxes have gone up so much as the fact that the superrich pay a much less of a percentage then the lower and middle class.

Pretty sure this is wrong. Federal income tax is progressive, the more you make the higher percentage it's taxed at.

Maybe what you're trying to say is Obama wants to make it even more progressive so it's a steeper curve as you make more, whereas MaCain opposes this, I know a lot of republicans support more of a flat tax.

Social Security doesn't follow the same rules though, it's a flat tax, plus it's capped each year.

tpunx99GSX 09-25-2008 05:42 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by slowboy (Post 257728)
Pretty sure this is wrong. Federal income tax is progressive, the more you make the higher percentage it's taxed at.

Maybe what you're trying to say is Obama wants to make it even more progressive so it's a steeper curve as you make more, whereas MaCain opposes this, I know a lot of republicans support more of a flat tax.

Social Security doesn't follow the same rules though, it's a flat tax, plus it's capped each year.

http://www.timesonline.co.uk/tol/mon...cle1996735.ece Highly publicized speech by Warren Buffett where he is paying 17% on his taxes, but his secretary who makes $60k a year is getting taxed 30%

asshanson 09-25-2008 05:48 PM

Re: I just want to take a quick poll...
 
Well you're not talking about normal income there, yes the capital gains tax is a lot lower than regular income tax. So I guess if you make your money on the stock market you're taxed at a lower rate. And I agree this is messed up, since the rich often do make a lot on capital gains.

But a business executive lets say makes $500,000k straight income, not stock options, he's taxed a higher rate than the $60k employee.

mdost03 09-25-2008 05:57 PM

Re: I just want to take a quick poll...
 
http://www.eyeblast.tv/Public/Video.aspx?rsrcID=2036

mdost03 09-25-2008 06:01 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by Project2G (Post 257719)
McCains daughter is hot. I was listening to her on the radio the other day.
http://halfsigma.typepad.com/photos/...han_mccain.jpg

Hellz yeah! He's gettin my vote!

311evo 09-25-2008 06:15 PM

Re: I just want to take a quick poll...
 
good vid, he has nothing to back his shit up. Obama gets the media and young people to love him because he says "change" and "Hope". Hes more of a celebrity that a candidate.

JET 09-25-2008 10:27 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by tpunx99GSX (Post 257731)
http://www.timesonline.co.uk/tol/mon...cle1996735.ece Highly publicized speech by Warren Buffett where he is paying 17% on his taxes, but his secretary who makes $60k a year is getting taxed 30%

Tom, get a clue. That is because he uses tax shelters and hedge funds that doesn't make sense for the rest of us, or we don't have the disposable income to use. Your tax bracket is 25% and someone making $400k/yr is taxed at 35%.

Now if you really delve into the economics you will know that rich people like that don't sit with the money under their bed and hoard it. They reinvest the money. This leads to extra assets for companies, which allows them to expand, which allows them to hire more people. In my finance class we did scenarios where we lower the taxes on businesses and it created huge differences in the operating capital.

The biggest problem with the economy is shipping our money overseas. Our trade deficit has become rediculous, but for some reason that isn't getting much attention. I'll use the place I just worked at as an example. They would set someone up with a product, lets say a microwave. Target buys this microwave, we would take a small margin off the top (under 5%) and the rest of the money goes to China. So if you buy a microwave from Target for $100, Target gets $30, our company would have got $5, and the other $65 goes to China (those are all approximates). So 2/3 of that purchase was money leaving our country. That is the main reason our economy has tanked lately.

john 09-28-2008 12:27 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by JET (Post 257762)
In my finance class we did scenarios where we lower the taxes on businesses and it created huge differences in the operating capital.

It took a finance class??? What school?

john 09-28-2008 12:28 AM

Re: I just want to take a quick poll...
 
Anyone see the Sara Palin Inverview with Katie Curek???

clean2g 09-28-2008 01:01 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by john (Post 257917)
Anyone see the Sara Palin Inverview with Katie Curek???

Yes, I didn't know whether to laugh or cry.

slowbubblecar 09-30-2008 12:31 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by JET (Post 257762)
In my finance class we did scenarios where we lower the taxes on businesses and it created huge differences in the operating capital.

The biggest problem with the economy is shipping our money overseas. Our trade deficit has become rediculous, but for some reason that isn't getting much attention. I'll use the place I just worked at as an example. They would set someone up with a product, lets say a microwave. Target buys this microwave, we would take a small margin off the top (under 5%) and the rest of the money goes to China. So if you buy a microwave from Target for $100, Target gets $30, our company would have got $5, and the other $65 goes to China (those are all approximates). So 2/3 of that purchase was money leaving our country. That is the main reason our economy has tanked lately.

How would the first part of this affect the average person? Just because a business is making more money doesn't mean it will go to the workers. The business owner will most likely reinvest it in a way to make even more money.

2nd part-So it would be better for everyone to pay more for just about everything they use daily than get them from another country?

slowbubblecar 09-30-2008 12:37 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by slowboy (Post 257728)
Maybe what you're trying to say is Obama wants to make it even more progressive so it's a steeper curve as you make more, whereas MaCain opposes this, I know a lot of republicans support more of a flat tax.

A flat tax would never work. A flat tax would only help the wealthy. The average person would have to pay a higher tax rate. The wealthiest people in america pay a bigger dollar amount of taxes as it is and making a flat tax would decrease the amount of taxes paid in by the wealthy and increase the rate of the lower classes.

slowbubblecar 09-30-2008 12:41 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by JET (Post 257706)
How can universal healthcare be a good thing? The government sucks are running things (IRS, social security, medicare, etc.). Why the hell do I want my LIFE to be in their control?? Do some research on goverment run healthcare (Canada, Sweden, etc.) and see if you think it works. Everyone can go in at no charge, why not go in for the sniffles? It will choke the system.

Does universal healthcare mean the private healthcare industry will go away? I would think those willing to pay would have no problem getting care.

v8klla 09-30-2008 10:56 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by slowbubblecar (Post 258371)
How would the first part of this affect the average person? Just because a business is making more money doesn't mean it will go to the workers. The business owner will most likely reinvest it in a way to make even more money.

You are exactly right but you are missing one big part of that equation. More money for small business owners = More money to invest / grow the business = More Jobs. I highlighted the important part ;)

tpunx99GSX 09-30-2008 11:27 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by v8klla (Post 258421)
You are exactly right but you are missing one big part of that equation. More money for small business owners = More money to invest / grow the business = More Jobs. I highlighted the important part ;)

Hard to grow the business when you cant get a loan. Way to "Save the country" on that one John McCain. (Of course when his "Im going to suspend my campaign and save the country" didnt work he blames the other guy)

A//// Guy 09-30-2008 11:37 AM

Re: I just want to take a quick poll...
 
Haha! So the economy turning to shit is now Mccain's fault? Tom... come on.

Sure he wanted to postpone the debates, and to be honest maybe they should have, because we still dont have a bailout deal that they can agree on.

We are F-ed.

tpunx99GSX 09-30-2008 12:00 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by M/// Guy (Post 258431)
Haha! So the economy turning to shit is now Mccain's fault? Tom... come on.

Sure he wanted to postpone the debates, and to be honest maybe they should have, because we still dont have a bailout deal that they can agree on.

We are F-ed.

McCain in his press conference said that he was going to suspend his campaign to go work out this deal and get the senate and house running and save this country. McCain put his ownership on it by claiming that by him going to washington it was somehow going to make everything better. Then yesturday he claims that they have reached a agreement (and honestly it should have passed) but in reality McCain had nothing to do with that bill, and when he claims that hes not going to just phone in his vote and that something of this magnitude he really needs to be there and those who phone their votes in arent meant to be leaders, WHAT DOES HE DO? Phones his vote in. GG RETARD. By him taking ownership of this bill (not in the literal) and putting his stamp of approval he said he was going to have his parties backing, The bill did not pass. Sorry John :rude: So what does he do? Blames Obama??? For injecting partisanship into this negotiation??? Who was it that called for the candidates to go to washington for a photo op with the president and senate leaders? If you dont see whats going on you are blind.
are you really saying that those 90 minutes of debate hurt the bill? The people really need to know what the next president is going to do about the economy, and that will go a lot further then john mccain and obama taking pictures in the white house. Hell Obama said that he wanted to stay out of washington and let the Committee do their work, instead of bringing all of the lights and cameras into the problem.

BLaCk_1cE 09-30-2008 12:13 PM

Re: I just want to take a quick poll...
 
2 videos Obama's campaign should be using

http://dmiessler.com/blog/the-two-mc...hould-be-using

Im not for either of the 2 candidates personally, so this is just somewhat of a devils advocate on my part. Im sure I could find just the same towards Obamas campaign as well.

slowbubblecar 09-30-2008 01:04 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by v8klla (Post 258421)
You are exactly right but you are missing one big part of that equation. More money for small business owners = More money to invest / grow the business = More Jobs. I highlighted the important part ;)

Just because people make more money doesn't mean there will be more jobs. It all depends on the person and the business. I know many small businesses that won't expand no matter how much money they make. People start businesses to make money, not employ people. The same goes for the stock market. People invest in the stock market to generate a return on their money, not to employ others.


I am not set on either canidate, just sharing my point of view in the thread.

mdost03 09-30-2008 02:12 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by slowbubblecar (Post 258451)
Just because people make more money doesn't mean there will be more jobs. It all depends on the person and the business. I know many small businesses that won't expand no matter how much money they make. People start businesses to make money, not employ people. The same goes for the stock market. People invest in the stock market to generate a return on their money, not to employ others.

Wow, you almost lost me on this one.

It's like building up a car, you make so much power and once you get used to that, you want to have more to get that feeling that you own a fast car. If a business owner is making more and more money, he very well should be looking into expanding his business to continue the money-making.

You say people start businesses to make money. Well why would they shoot themselves in the foot if they are making more to be able to expand and don't hire more people?

Matt D. 09-30-2008 02:50 PM

Re: I just want to take a quick poll...
 
Tom, watch this and explain how you even sleep at night with supporting your precious Obama and democratic party.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

These criminals who ran these banks into the ground have triggered this bailout plan that you now support. The plan that will be funded by tax payers like us, only to give money to people who don't deserve it.

slowbubblecar 09-30-2008 03:51 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by totaleclipse_05 (Post 258467)
Wow, you almost lost me on this one.

It's like building up a car, you make so much power and once you get used to that, you want to have more to get that feeling that you own a fast car. If a business owner is making more and more money, he very well should be looking into expanding his business to continue the money-making.

You say people start businesses to make money. Well why would they shoot themselves in the foot if they are making more to be able to expand and don't hire more people?

I am saying people invest to make money, not employ people. Some smaller businesses don't have any plans on expanding. I wonder if any of the local shop sponsors on here plan on going global? Some businesses are comfortable with where they are at. Adding offices and hiring more employees lead to more risks. Some people aren't comfortable taking those risks.

tpunx99GSX 09-30-2008 05:19 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by Matt D. (Post 258480)
Tom, watch this and explain how you even sleep at night with supporting your precious Obama and democratic party.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

These criminals who ran these banks into the ground have triggered this bailout plan that you now support. The plan that will be funded by tax payers like us, only to give money to people who don't deserve it.

Sure they dont deserve it, But if we do nothing we run the risk of having a stock market crash (you seen what happened. after the bailout failed). Granted the stock market droping 777 points was mostly in part of fear. But without this bailout it will be near impossible for small businesses to get loans, students to get loans, Possibility of peoples credit card limits to be lowered, etc. This affects everyone, and if you choose to believe the youtube propaganda that the economy isnt going to be affected if we do nothing then you have some reading to do. This really is something i would like to be wrong on, I would love to think everything is peachy keen and everything will be fine if we do nothing, but that just will not be the case.
Obama pushed for more regulation, making the bill not help pay CEO salaries, and taxpayer protections. McCain is for Deregulation and offered no additional input on this bailout. And then tried to take credit for Obama's additions.
You are letting your emotions affect your judgement on this one by saying "Well they got us into this so lets shoot down anything that has dem backing" instead of thinking logically on what is best for this country.

1QUICK4 09-30-2008 07:09 PM

Re: I just want to take a quick poll...
 
Saw this on another forum
Taken from Bloomberg.com


Quote:

Sept. 22 (Bloomberg) -- The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.

Why did Bear Stearns fail, and how does that relate to AIG? It all seems so complex.

But really, it isn't. Enough cards on this table have been turned over that the story is now clear. The economic history books will describe this episode in simple and understandable terms: Fannie Mae and Freddie Mac exploded, and many bystanders were injured in the blast, some fatally.

Fannie and Freddie did this by becoming a key enabler of the mortgage crisis. They fueled Wall Street's efforts to securitize subprime loans by becoming the primary customer of all AAA-rated subprime-mortgage pools. In addition, they held an enormous portfolio of mortgages themselves.

In the times that Fannie and Freddie couldn't make the market, they became the market. Over the years, it added up to an enormous obligation. As of last June, Fannie alone owned or guaranteed more than $388 billion in high-risk mortgage investments. Their large presence created an environment within which even mortgage-backed securities assembled by others could find a ready home.

The problem was that the trillions of dollars in play were only low-risk investments if real estate prices continued to rise. Once they began to fall, the entire house of cards came down with them.

Turning Point

Take away Fannie and Freddie, or regulate them more wisely, and it's hard to imagine how these highly liquid markets would ever have emerged. This whole mess would never have happened.

It is easy to identify the historical turning point that marked the beginning of the end.

Back in 2005, Fannie and Freddie were, after years of dominating Washington, on the ropes. They were enmeshed in accounting scandals that led to turnover at the top. At one telling moment in late 2004, captured in an article by my American Enterprise Institute colleague Peter Wallison, the Securities and Exchange Comiission's chief accountant told disgraced Fannie Mae chief Franklin Raines that Fannie's position on the relevant accounting issue was not even ``on the page'' of allowable interpretations.

Then legislative momentum emerged for an attempt to create a ``world-class regulator'' that would oversee the pair more like banks, imposing strict requirements on their ability to take excessive risks. Politicians who previously had associated themselves proudly with the two accounting miscreants were less eager to be associated with them. The time was ripe.

Greenspan's Warning

The clear gravity of the situation pushed the legislation forward. Some might say the current mess couldn't be foreseen, yet in 2005 Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie ``continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,'' he said. ``We are placing the total financial system of the future at a substantial risk.''

What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.

Different World

If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.

But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: ``It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.''

Mounds of Materials

Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.

But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.

Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.

There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.

Oh, and there is one little footnote to the story that's worth keeping in mind while Democrats point fingers between now and Nov. 4: Senator John McCain was one of the three cosponsors of S.190, the bill that would have helped avert this mess.

Kracka 09-30-2008 07:43 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by slowbubblecar (Post 258451)
Just because people make more money doesn't mean there will be more jobs. It all depends on the person and the business. I know many small businesses that won't expand no matter how much money they make. People start businesses to make money, not employ people. The same goes for the stock market. People invest in the stock market to generate a return on their money, not to employ others.

You couldn't be more wrong here. Even if the small business owner doesn't ever decide to expand he will still have more money and therefore be spending more. The more money that is spent the more jobs that are required to make the goods and perform the services being purchased. No matter how you cut it, unless the person is stuffing money under his bed never to see daylight again, more money = more jobs.

Also, please keep in mind that sometimes in order to make more money you need to employ more people. Whether it be a web designer, tax accountant, or even the UPS man.

Matt D. 09-30-2008 10:52 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by tpunx99GSX (Post 258511)
Sure they dont deserve it, But if we do nothing we run the risk of having a stock market crash (you seen what happened. after the bailout failed). Granted the stock market droping 777 points was mostly in part of fear. But without this bailout it will be near impossible for small businesses to get loans, students to get loans, Possibility of peoples credit card limits to be lowered, etc. This affects everyone, and if you choose to believe the youtube propaganda that the economy isnt going to be affected if we do nothing then you have some reading to do. This really is something i would like to be wrong on, I would love to think everything is peachy keen and everything will be fine if we do nothing, but that just will not be the case.
Obama pushed for more regulation, making the bill not help pay CEO salaries, and taxpayer protections. McCain is for Deregulation and offered no additional input on this bailout. And then tried to take credit for Obama's additions.
You are letting your emotions affect your judgement on this one by saying "Well they got us into this so lets shoot down anything that has dem backing" instead of thinking logically on what is best for this country.

Youtube propaganda? Yeah, okay. How about some more Youtube videos of Ron Paul? http://www.connietalk.com/ron_paul_o...my_092908.html

Quote:

President George W. Bush gave another address to the nation today, and hopped it up with stark warnings about Congress' failure to pass a bank bailout package. Bush said that the nation is "facing a choice between action and the real prospect of economic hardship for millions of Americans." What is he, behind?

Pres. Bush warned that "this is not the end of the legislative process," and that he still expects a measure to be reached.

And since the legislation lost by only 12 votes, we highly encourage you to pick up the phone just once and have your voice heard!

GWB threatened that "the consequences will grow worse each day if we do not act," and that the "economic damage will be painful and lasting."

Even more ominous, Bush stated that "It matters little what path a bill takes to become law. What matters is that we get a law. We're at a critical moment for our economy."

It matters little how a bill becomes a law? What do they waste all that time on the legislative process in history classes for then? Keep your eyes peeled, though, because this could very well be the case.

As Congressman Ron Paul mentioned after Congress voted: the Fed just pumped over $600 billion of credit into the market this week without any Congressional approval. So they have the vehicle and the administration will attempt to get this bailout passed without the people's - and likely even Congress' - approval.
http://www.connietalk.com/george-w-corps.jpg

Government got us in this mess, it's their job to get us out of it. Throwing more money at the problem is not the solution. Since when do you pay off debt with more debt? Do you take out a loan to pay off a loan? Tom, I know you aren't the brightest bulb on the tree but even you aren't that dumb.

BLaCk_1cE 09-30-2008 10:58 PM

Re: I just want to take a quick poll...
 
^I gotta get that shirt haha. wait why am i laughing, that shirt pisses me off.

john 10-01-2008 12:36 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by Kracka (Post 258538)
You couldn't be more wrong here. Even if the small business owner doesn't ever decide to expand he will still have more money and therefore be spending more. The more money that is spent the more jobs that are required to make the goods and perform the services being purchased. No matter how you cut it, unless the person is stuffing money under his bed never to see daylight again, more money = more jobs.

Also, please keep in mind that sometimes in order to make more money you need to employ more people. Whether it be a web designer, tax accountant, or even the UPS man.


A lot of wealthy small business owners do just keep their money. I am an accountant and deal with them everyday. The risk is a HUGE issue for small businesses. Most of them do NOT go out and spend the money. They save it. This is even more clear the older the person is/if they started the business on their own.

There are alot of niche markets and that is why small businesses can be successful. Not everyone is going to grow, grow, grow like walmart. It just can't happen.

Even if you pretend that a person making more money will spend it, most of our goods come from overseas anyhow.

There is no proof that an increase in income will lead to an increase in spending or any growth in the company. There are too many large assumptions to be made.

Most small businesses are S-Corps, LLCs, or partnerships anyhow. They don't pay federal taxes, they are passed on to thier individual tax returns. MN charges a fee based on assets, sales, and payroll (called apportionment) which is relatively small (usually 0, $100, $300, $1000). The larger the apportionment the more the pay. I believe you have to have over $1 million (weighted total) for the $100 fee anyhow.

Small businesses are not killed by taxes. The owners bitch that they get charged with self employment taxes but a mediocre accountant can make the benefits of owning a business greater than the tax.

There is no tax that will ever kill a business or hold one back. If you don't make money, you don't have to pay the tax. Plain and simple.

john 10-01-2008 12:44 AM

Re: I just want to take a quick poll...
 
The reason the dam bill didn't pass is because nobody wanted to get their name behind voting for it. They know when they are up for election, they will see their name on TV saying: .... supported the $700 billion bailout of corporate america and he will raise your taxes.

Hard to pass a bill when 66% of all republicans voted against it.

It was clear when they were working on the bill that they didn't want Obama and McCain their. I can't believe that McCain tried pulling the: "I am going to put my campaign on hold" way out of the debate. It is like he thinks everyone is stupid. McCain wouldn't add any value. He tried all he could to get his name on this and it failed because of his republican party.

tpunx99GSX 10-01-2008 05:57 PM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by john (Post 258579)
The reason the dam bill didn't pass is because nobody wanted to get their name behind voting for it. They know when they are up for election, they will see their name on TV saying: .... supported the $700 billion bailout of corporate america and he will raise your taxes.

Hard to pass a bill when 66% of all republicans voted against it.

It was clear when they were working on the bill that they didn't want Obama and McCain their. I can't believe that McCain tried pulling the: "I am going to put my campaign on hold" way out of the debate. It is like he thinks everyone is stupid. McCain wouldn't add any value. He tried all he could to get his name on this and it failed because of his republican party.

talk about a backfire. And then blames obama. Real Smart.
Sad thing it is that this election has more drama then a TV Show. Granted ill be sitting with popcorn watching Sarah Palin show the world just how stupid she really is. :)

john 10-01-2008 10:48 PM

Re: I just want to take a quick poll...
 
I can't wait to see the interview. I don't have any idea how people can try to back her. She is just too stupid. Just the thought of her being the second in charge is freightening. What happens if McCain can't serve his term??? We are screwed!

slowbubblecar 10-02-2008 12:12 AM

Re: I just want to take a quick poll...
 
Quote:

Originally Posted by Kracka (Post 258538)
You couldn't be more wrong here. Even if the small business owner doesn't ever decide to expand he will still have more money and therefore be spending more. The more money that is spent the more jobs that are required to make the goods and perform the services being purchased. No matter how you cut it, unless the person is stuffing money under his bed never to see daylight again, more money = more jobs.

Also, please keep in mind that sometimes in order to make more money you need to employ more people. Whether it be a web designer, tax accountant, or even the UPS man.

Wouldn't it be more effective to give a tax break to consumers? Everyone would benefit. Consumers would spend their extra income at businesses and businesses would have more money from the increased spending. They could then use that money to grow their business, buy crap or put under their matress.

Halon 10-03-2008 05:35 AM

Re: I just want to take a quick poll...
 
1 Attachment(s)
Interesting power point someone sent to me.


All times are GMT -5. The time now is 10:00 AM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2026, Jelsoft Enterprises Ltd.