This morning started off, just as every morning has been doing lately. Nice warm start of the day, got up about 0600, shut off the alarm, went out to pick up the paper, checked out the OBITS.........HOT DOG! NO RIZZO'S........lets cook up some coffee. AH! out on the deck. Birds have their breakfeast.......guess the squirrel hasn't been here yet. Let's see what's happening in the world.
I'm not really sure how this can be done, and I'm not really sure the party of NO is really concerned about ever balancing the budget .................to protect.......our children. I certainly don't understand the rationale behind this article. I can fully understand, that cutting taxes SHOULD create spending but not necessarily from the group that the Republicans want to cut taxes for. Most of that group have WAYS AND MEANS to hide from paying taxes. Having lots of money does not constitute that you will pay a lot of tax, to the contrary. Look at the Exxon deal from my last posting Paid 18 billion in taxes.......BUT.....zero.....natta....zilch to the country where a good deal of the money was made.......why?........LOOPHOLES.........designed to do just that. Stop from paying taxes.
WHA.?....WHA..?....WHAT THE HELL!!!!!! DID THAT BONEHEAD JUST SAY THAT. Now, folks this article was so funny not necessarily HA HA funny .....but ridiculous funny that I am going to quote it to you (with my remarks in parenthesis) For protection against Plagiarism, the article was written by David Lightman of the McClatchy Newspapers.
Dateline: WASHINGTON.
Republicans almost unanimously oppose spending $33.9 Billion for extended unemployment benefits for some 2.5 million people who've lost them. (Wait until they hear about the $33 Billion Sec. Gates DOD needs urgently to pay DOD bills coming due) partially out of concern for federal Budget deficits. (guess this means borrowing more money from China)
Meanwhile, they're pushing a permanent extension of Bush-era tax cuts, especially for the wealthy, which could increase deficits by trillions of dollars over 10 years.
WHY?
"Tax policy is dynamic. If you have the right kind of tax reform, it helps generate a more dynamic economy" said Sen. Mike Crapo, (honest, no crapola from Crapo) R-Idaho, a member of the Senate Finance Committee, which writes tax law.
Wouldn't unemployment benefits for 2.5 million people help the economy?
"There's a distinction between taxes and spending." Crapo said. " We have a huge problem with a lack of spending restraint"
Democrats howl at what they see as hypocrisy.
The GOP argument, said Sen. Tom Harkin, D-Iowa, is "that we should cut off some of the most desperate people in our economy, take away their last meager lifeline, because we're concerned about the deficit. Yet those very same senators are demanding that we extend hundreds of billions of dollars in tax breaks for the wealthiest Americans in our society." ( guess he read my blog about the Exxon fiasco and not paying any taxes to the USA)
The money for jobless benefits is expected to win Senate approval (Tuesday) after weeks of Republican-led filibusters. The next big economic fight: President George W. Bush's 2001 and 2003 tax cuts.
If the cuts are not extended by Dec. 31, taxes on income,capital gains, dividends and estates would increase next year and the child-care credit would be cut in half, to $500 per child.
President Obama would reinstate the top two pre-Bush marginal income-tax rates of 36 and 39.6 percent, starting with adjusted gross incomes of more than $250,000 for joint filers a and $200,000 for individuals. The current top rates are 33 and 35 percent.
He would retain the Bush-era rates ranging from 10 to 28 percent for those who earn less.
Conservatives contend tax policy is different from spending. Tax cuts spur the economy, the thinking goes. Business hiring and the economy will grow if consumers spend and invest more. Reducing tax revenue will restrain spending. (AH AH. that must be the new math)
On the other hand, they say extending unemployment benefits without offsetting revenue doesn't boost the economy appreciably and could weaken the incentive to work. ( WHAT THE HELL DOES THAT MEAN?)
Liberals, boosted by the report this year from the non-partisan Congressional Budget Office (CBO), maintain jobless benefits go to those who need them most and are likely to be spent quickly, multiplying their economic effect. (NO!!! just give me my money I'm going to put it in the bank and SAVE IT.....to hell with food, housing and clothing ...........fool)
Deficits under Obama's budget plan already are expected to total about $9.75 trillion over 10 years. The CBO and Congress' Joint Committee on Taxation said this year that extending the original Bush-era tax cuts would increase those deficits by $2.56 trillion. ( WHO CARES.....just give the rich fold their money)
"I believe it would be a serious mistake to make any of the tax cuts permanent now, " said Leaonard Burman, a professor of public affairs at Syracuse University's Maxwell School, however, he said some of the tax cuts should be exteded since "low and middle-income households are facing serious cash-flow constraints."
Doughlas Holtz-Eakin, chief of Bush's council of Economic Advisers from 2001 to 2002, warned against letting any tax rates rise: "The prospect of a large tax increase would force households to undertake even more balance sheet repair." (end of article)
It's no wonder we got into such trouble in 2001 and went from a surplus to where we are today. A recession that no one admitted to until 7 years later with the kind of CRAP FOR BRAINS thinking that this articles gives to the Republican party, it's a wonder if they will be able to handle anything over a buck and a half at one given time. Now that I have read this EL CRAPO FROM SENATOR CRAPO, IDAHO!!!!! HOLD ON TO YOUR POTATOES!!!!!!!.
