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Thread: Obama Linking Reducing Deficit To Creating New Jobs

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    Obama Linking Reducing Deficit To Creating New Jobs

    Looks like Hopey is selling people down the river again. More corporate welfare in the offing.

    WASHINGTON -- Immersed in an intense struggle to cut the national debt, President Barack Obama faces a dilemma that will stay with him even if he succeeds in striking a grand deal with Congress: convincing Americans that the entire effort will do anything to create desperately needed jobs.
    Obama ties deficit reduction to jobs, on the basis that trying to balance the nation's books will promote economic stability and give businesses more confidence to hire. But that's a tough sell to the millions of Americans out of work right now. And the communications problem just got harder.
    The latest snapshot of the economy, out Friday, was a body blow that showed employers added a meager 18,000 jobs in June. The leaders of the country, meanwhile, are consumed with negotiating a major debt-reduction deal built upon cutting spending and raising taxes. It is not directly aimed at boosting jobs.
    Obama's challenge is to link all this in meaningful terms and to get faster results. At stake are the country's economic recovery and his re-election chances.
    The debt is the urgent problem for Obama and a divided Congress because they have no choice. Reaching a deal has become the key to winning Republican support for raising the nation's debt limit, a politically noxious vote that Congress must take by Aug. 2 to keep the nation from risking default for the first time ever.
    "There's no question that this is a complex, almost impenetrable issue," said David Axelrod, a longtime Obama adviser and now a senior strategist to the president's re-election campaign. "It's not just the issue of the potential default, but it's the larger issue of what he's trying to get at, the opportunity of trying to do something big about the deficits and the debt. Big things are at stake, but they're hard to penetrate, so the process of dealing with them is painstaking."

    Read more at: http://www.huffingtonpost.com/2011/0..._lnk3%7C218492

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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Hey beyotch - can you please provide the link to the story? Thanks!






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    Re: Obama Linking Reducing Deficit To Creating New Jobs


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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Hopey McChangeys smoke and mirrors.

    9.2 unemployment rate and obaaaaamas prescription to lower the unemployment rate is higher taxes.


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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Quote Originally Posted by BlacknGoldBabe View Post
    Muchos gracias. When posting a news article, please post a portion of it with a "read more at (link)". These stories are copyrighted and we don't want to get our azzes in hot water.






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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    At stake are the country's economic recovery and his re-election chances.
    And there is the crux of the problem of governments. The goal of re-election is way too important in the minds of the politicians. Would it not be wiser to just make choices for the country without trying to mix in the goal of re-election? Better to be a one-term politician that did the right thing than a 2-term politician that did the expedient thing.

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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    It is one thing to say we need to raise taxes (on the wealthiest) to reduce the deficit. That is true, but ONLY people (not small business owners who run their taxes through their business, rather individuals filing taxes) that make more then one million a year. That is compromise.

    But there is no logical way to make the leap that taxing people more will create jobs. AT BEST, if it's done right, it's a break-even scenario, and the whole point of the exercise is to raise a few hundred billion in new revenues as a compromise to entice the Dems to sign-off on a few TRILLION in spending cuts.

    This also isn't getting enough play...Obama created the highest one-time discretionary spending increase in HISTORY. He himself is only willing to concede a small cut in those spending increases, when in fact they need rolled back to 2008 levels. The increases did absolutely nothing to help the economy or create jobs, so getting rid of them won't hurt anything or LOSE more jobs. We're talking 10 TRILLION dollars+ over the next 10 years with just that one move right there.

    This is simple: Either close tax loopholes or raise the tax level 3% on the very richest, and roll-back spending to 2008. That is it. Budget done, debt ceiling raised, budget well on it's way to being on a plane we can actually afford, and we all move on...
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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    It is one thing to say we need to raise taxes (on the wealthiest) to reduce the deficit. That is true, but ONLY people (not small business owners who run their taxes through their business, rather individuals filing taxes) that make more then one million a year. That is compromise.
    His tax plan doesn't really differentiate between the two.

    Obama's plan is to divide the classes so let's see how he is doing that. Let's start at the Corporate Jet owners. Taxing that will net aroud 8 billion over ten years. And that will yield less than 1% of the goal. Now let's look at those millionairs and billionaires that he talked bout. His definitions of billionaires and millionaires is married couples making over $250 a year or a single person making over $200 a year.


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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Which is a big problem. I warned people back in 2008 that Obama had one of the worst track records EVER in the Senate in voting for small business mandates (while McCain had one of the best). When you get down to brass tacks, these guys are going to be forced to have pretty similar policies on things like foreign affairs, how to handle wars, etc, etc...it's the handling of the economy that really separates them, particularly the handling of small business and manufacturing, which are the twin-engines that drive this economy.

    Obama was, is, and will remain anti-small business, and strongly pro-union (which translates to anti-corporate). If you kowtow to the unions, and you continue to pummel small business, you can only strangle the economy. There is no other option.
    Fire Goodell

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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Taxing specific niches won't work. I remember the "Yacht Tax" in the early 90's. It was supposed to "level the playing field". It grossly OVERestimated the amount of revenue it would collect, as it had the dual effect of both raising the price of yachts so much that people stopped buying them, and the even WORSE effect of shutting down a bunch of Northeastern Yacht-builders.

    That's why you spread it over thinly over everyone at the VERY top. 3% for those individuals making over a million. DO NOT touch the taxes of small business owners who pay their taxes through their business. This isn't even about the amount of revenue you'll raise, which will be relatively minimal over a decade, and also have a minimal impact on the few people effected, but it's ALL ABOUT COMPROMISE. The GOP can say "Look, the people spoke, they wanted some tax increases at the very top, and we listened".
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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    The problem isn't that we the people aren't taxed enough it's that our Government spends too much and pisses money away like it's free money. We have more taxes now then ever before and they want to continue to raise taxes on everyone. The problem with putting a band-aid on the spending/big Government problem is that eventually we're going to run out of 'rich' people to tax. I read the other day that Obama's 'compromise' was to raise taxes on families who make more then $1 million/yr. Basically what it came down to was 60% of every dollar goes to Uncle Sammy while the person who actually worked for the money gets to keep 40%.

    The popular opinion is "We're not rich so lets tax those who are!" but that's not seeing the forest through the trees. I think there is a big, big problem when our Government is a) able to take more then half one someones earned wages and the people are not only OK with it but pushing for it and b) when that is our 'only' option to sustain a Government that is pissing money away left and right. This Government has been run with far less and tax revenues in the past and we need to get there again.

    I am looking for the article where I read about the tax increase but can't find it. When I do I will post it here but even if the % is off a little bit the principal and the problem still remain.
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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    "Raising taxes" equates to "paying your fair share".

    If the "rich" were to pay taxes based on their bracket then there would be a TON of more revenue, I guess this is the "close loopholes argument"? Many of the wealthy, who are supposed to be paying 35% - 38% are paying in the teens or none at all. Raising the percentage of the bracket itself does nothing. What needs to happen is that they pay what they are supposed to pay based on income / bracket.

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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    There have been numerous, numerous articles lately about how the very top 1%ers have seen their wealth exponentially explode in the last two decades or so...there is absolutely no basis to any claim that we are "running out of millionaires". Quite the exact opposite.

    Outside of 2008, there has been a steady rise in people in the "millionaire club". Their share of the wealth is the highest it's been since the 20's. The average wealth of a millionaire is about 6.7 million bucks. The top 1% holds 20% of US worth. The top .01% has seen it's annual income rise from around 4 million to 35 million annually (numbers ARE adjusted for inflation) since 1974. And all the while their tax rate has declined.

    The pleas of poverty are a canard. The bottom 90% of the population has seen an increase in their household wealth since the 60's y about 50%, but those numbers don't accurately portray the fact that there have been many factors at play (like the skyrocketing numbers of households that added a second income to keep up). The top 1% has seen their household wealth increase 256% over the same time period.

    I'm not espousing some weird Communistic egalitarian redistribution of wealth here, simply a modest 3% tax increase that is in line with what the wealthiest paid during the boom of the 90's. This is a far cry form the 90% tax bracket of FDR. It's 38%, as opposed to the current 35%.
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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Quote Originally Posted by BnG_Hevn View Post
    "Raising taxes" equates to "paying your fair share".

    If the "rich" were to pay taxes based on their bracket then there would be a TON of more revenue, I guess this is the "close loopholes argument"? Many of the wealthy, who are supposed to be paying 35% - 38% are paying in the teens or none at all. Raising the percentage of the bracket itself does nothing. What needs to happen is that they pay what they are supposed to pay based on income / bracket.
    Closing the loopholes is also acceptable...I just think it will be ore difficult to accomplish so I'm keeping it simple. An across-the-board, LOOPHOLE FREE tax increase for the top 1%....
    Fire Goodell

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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    I have a compromise:

    Clinton-era tax rates.

    Clinton-era spending levels.

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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Quote Originally Posted by Preacher View Post
    Let me guess. Friends?
    She's been my best gal pal since Jr. High!






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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    One wild card in this whole mess: The Bush tax cuts are set to expire at the end of 2012. This couls be used to great advantage by the GOP. Agree to return JUST the top 1% to pre-tax cut levels (in this case 39%) in the interim, and then take up the whole issue at the end of 2012. If the DEms try to raise the REST of our taxes, that will spell their doom.
    Fire Goodell

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    Re: Obama Linking Reducing Deficit To Creating New Jobs

    Easy way to reduce the deficit is for the government to make a few Harry Potter movies



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