It's Not the Wealthy, Stupid! It's a Full Blown Depression

rockin'robin · 08-21-2010, 11:28 AM

While President Obama goes on another vacation (his 6th this year), leading economic figures are warning that the U.S. may face a full blown depression if the Bush Tax Cuts are not fully renewed this year.

As you know, the Bush Cuts automatically expire all at once on December 31st of this year. Your taxes will go up massively -- unless you act.

Nancy Pelosi and Harry Reid have vowed to bring a vote on the Bush tax cuts as early as September.

But they want their version of these "tax cuts."

Pelosi, Reid and Obama want tax increases for the most successful Americans making more than $200,000 a year, with additional hikes on capital gains and dividend taxes for everyone.

(Received this in my email...any input would be appreciated!)

They conveniently forget that there is no such thing as a tax on the "wealthy." Such individuals simply stop spending or move their assets to tax sheltered investments.

If Pelosi-Reid-Obama get their way, they could trigger a deep depression.

That's not me speaking but a former Bank of England official who just this week issued an urgent warning, telling Americans to forget about a “double-dip recession.”

He says if we don’t extend the Bush Tax Cuts, a major depression will hit the U.S.

“If we don’t act fast, a plunge into Depression is a growing risk in . . . the U.S.,” writes economist David Blanchflower, in a column for Bloomberg News.

Martin Regalia, an economist for the U.S. Chamber of Commerce, echoed Blanchflower’s fears.

"That is going to be a bullet in the head for an awful lot of people that are going to be laid off and an awful lot of people who are hoping to get their jobs back," Regalia said.

This is on top of even more bad economic news from the Department of Labor, as new claims for unemployment benefits soared to 500,000 last week, a nine-month high.

As you know, we at the League of American Voters have been fighting to FULLY renew the Bush tax cuts, across the board.

You can't raise taxes in the middle of a terrible recession!

Senator Fred Thompson has led our national petition effort to Renew the Bush Tax Cuts.

I am glad to report that as of this moment close to 300,000 Americans have signed our petition demanding that Congress fully renew the Bush Tax Cuts.

Fred Thompson has been appearing in our TV ads and helping with our online campaign reaching millions of Americans.

We need to do more.

Momentum is gaining in our favor and we need to do more to persuade Congress to fully renew the Bush tax cuts.

Already our efforts are paying off. Three Senate Democrats have called for a full renewal of the Bush Tax Cuts.

We believe many more in the House and Senate will join this bipartisan effort to save our economy and avert a depression.

The League’s campaign has already made incredible progress, with close to 300,000 Americans signing our petition.

Dick Morris, the famous Fox News analyst, says the League "is one of the most effective organizations in America. It deserves your support."

You can continue helping the League in two ways:

If you have not signed the Petition, do so today, and also see Fred's TV ad — Go Here Now
We need to alert millions of Americans to this tax threat — please donate to our campaign with Fred Thompson — every donation helps us buy TV, radio, print and online ads -— Go Here Now

Thank you.

Yours for America,

Bob Adams
Executive Director

P.S. – President Obama is clearly obsessed with his far left agenda and won't change his mind on the Bush tax cuts. But many Democrats and Republicans agree with us -- renew the Bush tax cuts fully to save our economy! Help the League alert millions of Americans -- Go Here Now

Paid for by the League of American Voters. Contributions to the League of American Voters
are not tax deductible as charitable contributions for federal income tax purposes.
Contributions from individuals and corporations are permitted by law and welcome.

http://us.mc1205.mail.yahoo.com/mc/w...jsrand=7043561

rockin'robin · 08-21-2010, 11:33 AM

(Received this in my email....it's over my head...any input on this?)

**TXgolfer** · 08-21-2010, 11:35 AM

Double dips for everyone. You can pick any flavors you want......it's not going to taste good

Grummer · 08-21-2010, 11:39 AM

ah he's an asshole, just like a few other deafies that I know of...

**Foxrac** · 08-21-2010, 11:42 AM

League of American Voters *Yawn*

Grummer · 08-21-2010, 11:53 AM

americans with diarehoarea? lol

**Reba** · 08-21-2010, 11:58 AM

Quote:

Originally Posted by Grummer

americans with diarehoarea? lol

Is that better or worse than being anal retentive?

Grummer · 08-21-2010, 12:03 PM

no, cuz it mean flushing out
uncontrollabally LOL
not stuck up as a cover up of the assholes' release of shit

**Reba** · 08-21-2010, 12:07 PM

Quote:

Originally Posted by Grummer

no, cuz it mean flushing out
uncontrollabally LOL
not stuck up as a cover up of the assholes' release of shit

Can't get any clearer than that!

**TXgolfer** · 08-21-2010, 12:07 PM

Quote:

Originally Posted by Foxrac

League of American Voters *Yawn*

Quote:

Originally Posted by Grummer

americans with diarehoarea? lol

Care to show how they are wrong rather than making quips? Explain how taxing people and businesses already hurting will decrease unemployment? How will it keep inventories moving? How it will keep people spending?

**Reba** · 08-21-2010, 12:11 PM

Quote:

Originally Posted by TXgolfer

Care to show how they are wrong rather than making quips? Explain how taxing people and businesses already hurting will decrease unemployment? How will it keep inventories moving? How it will keep people spending?

Obviously we need the tax "cuts" to continue in order to decrease unemployment and get out of this slump.

"Quips" are neither here nor there; nothing to get tied up in.

**TWA** · 08-21-2010, 12:11 PM

Scare tactics. Nothing more.

**Foxrac** · 08-21-2010, 12:13 PM

Quote:

Originally Posted by TheWriteAlex

Scare tactics. Nothing more.

Yup, I agreed.

**TXgolfer** · 08-21-2010, 12:14 PM

Quote:

Originally Posted by Reba

Obviously we need the tax "cuts" to continue in order to decrease unemployment and get out of this slump.

"Quips" are neither here nor there; nothing to get tied up in.

Yup

**TXgolfer** · 08-21-2010, 12:20 PM

Quote:

Originally Posted by TheWriteAlex

Scare tactics. Nothing more.

So you think increasing the tax burden of those who hire and spend won't have a negative impact on the economy?

I can tell you for a fact that just the possibility of an increased tax burden (plus health care burden) has had a negative impact. I personally know 70+ people who are unemployed due to the threat of a higher tax burden.

DDU · 08-21-2010, 04:06 PM

this is stuff the TEA Party and republicans are throwing up to make obama look bad. its a crazy world we live in and politics are using every way possible to start rumors like that the prez is a muslim or that he doesn't have an american birth certificate. its called "death by a thousand cuts"

**TWA** · 08-21-2010, 04:11 PM

Quote:

Originally Posted by TXgolfer

So you think increasing the tax burden of those who hire and spend won't have a negative impact on the economy?

I can tell you for a fact that just the possibility of an increased tax burden (plus health care burden) has had a negative impact. I personally know 70+ people who are unemployed due to the threat of a higher tax burden.

Don't put words in my mouth. I didn't say it wouldn't have a negative impact on the economy (though honestly, I doubt if it will...)

But the claims that not renewing the tax cuts will lead to a depression are ludicrous and constructed to stir the emotions of the reader. Just cause some British economist says it, doesn't mean it is true. The article has no credibility whatsoever as far as I'm concerned.

**Foxrac** · 08-21-2010, 04:13 PM

Quote:

Originally Posted by DDU

this is stuff the TEA Party and republicans are throwing up to make obama look bad. its a crazy world we live in and politics are using every way possible to start rumors like that the prez is a muslim or that he doesn't have an american birth certificate. its called "death by a thousand cuts"

Yup, that what typical American political for.

**TXgolfer** · 08-21-2010, 04:41 PM

Quote:

Originally Posted by TheWriteAlex

Don't put words in my mouth. I didn't say It wouldn't have a negative impact on the economy (though honestly, I doubt if it will...)

But the claims that not renewing the tax cuts will lead to a depression are ludicrous and constructed to stir the emotions of the reader. Just cause some British economist says it, doesn't mean it is true. The article has no credibility whatsoever as far as I'm concerned.

Oh ok gotcha.

I don't no about this guy......but I believe we are in too much trouble to be removing tax cuts. I believe it will have a serious negative impact. I guess we will soon see.

**TXgolfer** · 08-21-2010, 04:54 PM

Quote:

Originally Posted by DDU

this is stuff the TEA Party and republicans are throwing up to make obama look bad. its a crazy world we live in and politics are using every way possible to start rumors like that the prez is a muslim or that he doesn't have an american birth certificate. its called "death by a thousand cuts"

Unemployment bouncing between 9.5 and 10%

Market stable but still way down

Inventories finally stable but buying is off

Asking a question about the FUTURE like should we remove tax cuts is not about making obama look bad. It's about deciding the best course of action from here. Do we really want to tax the bosses and business owners while the economy is this fragile. Once obama makes that decision it becomes about obama. If he removes the cuts and the economy thrives he is a hero. If he removes the cuts and the economy tanks he is a villain. But if he removes the cuts the days of blame Bush are over. He has to own this decision.

netrox · 08-21-2010, 11:12 PM

it's amazing... I don't think you understand that tax cuts given by Bush is way too much tax cuts for the wealthy.

Only top 10% makes that much money. It cracks me up that the rich tries to persuade you that you're one of the top 10%. You ain't. You are still getting more tax cuts than the top 10%.

When you make $200,000 a year, you have more than enough to live comfortably. To whine about how more tax money will be used to make the government run and pay its employees is just appalling.

When you make 1,000,000 and tax rate is 40%, you have 600,000 left and that's MORE than enough to have you live comfortably. There's no justification to demand more tax cuts.

**TXgolfer** · 08-21-2010, 11:29 PM

Quote:

Originally Posted by netrox

it's amazing... I don't think you understand that tax cuts given by Bush is way too much tax cuts for the wealthy.

Only top 10% makes that much money. It cracks me up that the rich tries to persuade you that you're one of the top 10%. You ain't. You are still getting more tax cuts than the top 10%.

When you make $200,000 a year, you have more than enough to live comfortably. To whine about how more tax money will be used to make the government run and pay its employees is just appalling.

When you make 1,000,000 and tax rate is 40%, you have 600,000 left and that's MORE than enough to have you live comfortably. There's no justification to demand more tax cuts.

Sure there is. I earned it.

And. where as $200,000 is decent money in fly over country......It ain't &%^ in New England or the west coast

netrox · 08-21-2010, 11:35 PM

Quote:

Originally Posted by TXgolfer

Sure there is. I earned it.

Doesn't matter how you earned it, you must pay a fair share of your income.

souggy · 08-21-2010, 11:36 PM

Wirelessly posted

So, how do you encourage misers to spend? The ones I know in real-life has no interest in using their wealth for luxury, retirement, charity, inheritage or for investments.

The wealthy do have the rights to complain, but they are scapegoating the wrong group of people.

**TXgolfer** · 08-21-2010, 11:40 PM

Quote:

Originally Posted by souggy

Wirelessly posted

So, how do you encourage misers to spend? The ones I know in real-life has no interest in using their wealth for luxury, retirement, charity, inheritage or for investments.

.

Do they sit on it???

I do all of the above.

**TXgolfer** · 08-21-2010, 11:42 PM

Quote:

Originally Posted by netrox

Doesn't matter how you earned it, you must pay a fair share of your income.

Fair share...... You bet. Everybody pays the same rate. That is fair.

souggy · 08-21-2010, 11:43 PM

Wirelessly posted

Yep, they do. Have no idea what they are planning to do with their money. Weird bunch... One eats dog food.

**Foxrac** · 08-21-2010, 11:46 PM

Quote:

Originally Posted by TXgolfer

Fair share...... You bet. Everybody pays the same rate. That is fair.

Sorry, I disagree.

**TXgolfer** · 08-21-2010, 11:47 PM

Quote:

Originally Posted by Foxrac

Sorry, I disagree.

Of course....I had no doubt.

AndyE9503 · 08-21-2010, 11:51 PM

Quote:

Originally Posted by netrox

Doesn't matter how you earned it, you must pay a fair share of your income.

How is it fair when people pay different percentages of their income?

08-21-2010, 11:28 AM	#1 (permalink)
rockin'robin Registered User Join Date: Apr 2007 Location: Jacksonville, Florida Posts: 11,480	It's Not the Wealthy, Stupid! It's a Full Blown Depression While President Obama goes on another vacation (his 6th this year), leading economic figures are warning that the U.S. may face a full blown depression if the Bush Tax Cuts are not fully renewed this year. As you know, the Bush Cuts automatically expire all at once on December 31st of this year. Your taxes will go up massively -- unless you act. Nancy Pelosi and Harry Reid have vowed to bring a vote on the Bush tax cuts as early as September. But they want their version of these "tax cuts." Pelosi, Reid and Obama want tax increases for the most successful Americans making more than $200,000 a year, with additional hikes on capital gains and dividend taxes for everyone. (Received this in my email...any input would be appreciated!) They conveniently forget that there is no such thing as a tax on the "wealthy." Such individuals simply stop spending or move their assets to tax sheltered investments. If Pelosi-Reid-Obama get their way, they could trigger a deep depression. That's not me speaking but a former Bank of England official who just this week issued an urgent warning, telling Americans to forget about a “double-dip recession.” He says if we don’t extend the Bush Tax Cuts, a major depression will hit the U.S. “If we don’t act fast, a plunge into Depression is a growing risk in . . . the U.S.,” writes economist David Blanchflower, in a column for Bloomberg News. Martin Regalia, an economist for the U.S. Chamber of Commerce, echoed Blanchflower’s fears. "That is going to be a bullet in the head for an awful lot of people that are going to be laid off and an awful lot of people who are hoping to get their jobs back," Regalia said. This is on top of even more bad economic news from the Department of Labor, as new claims for unemployment benefits soared to 500,000 last week, a nine-month high. As you know, we at the League of American Voters have been fighting to FULLY renew the Bush tax cuts, across the board. You can't raise taxes in the middle of a terrible recession! Senator Fred Thompson has led our national petition effort to Renew the Bush Tax Cuts. I am glad to report that as of this moment close to 300,000 Americans have signed our petition demanding that Congress fully renew the Bush Tax Cuts. Fred Thompson has been appearing in our TV ads and helping with our online campaign reaching millions of Americans. We need to do more. Momentum is gaining in our favor and we need to do more to persuade Congress to fully renew the Bush tax cuts. Already our efforts are paying off. Three Senate Democrats have called for a full renewal of the Bush Tax Cuts. We believe many more in the House and Senate will join this bipartisan effort to save our economy and avert a depression. The League’s campaign has already made incredible progress, with close to 300,000 Americans signing our petition. Dick Morris, the famous Fox News analyst, says the League "is one of the most effective organizations in America. It deserves your support." You can continue helping the League in two ways: If you have not signed the Petition, do so today, and also see Fred's TV ad — Go Here Now We need to alert millions of Americans to this tax threat — please donate to our campaign with Fred Thompson — every donation helps us buy TV, radio, print and online ads -— Go Here Now Thank you. Yours for America, Bob Adams Executive Director P.S. – President Obama is clearly obsessed with his far left agenda and won't change his mind on the Bush tax cuts. But many Democrats and Republicans agree with us -- renew the Bush tax cuts fully to save our economy! Help the League alert millions of Americans -- Go Here Now Paid for by the League of American Voters. Contributions to the League of American Voters are not tax deductible as charitable contributions for federal income tax purposes. Contributions from individuals and corporations are permitted by law and welcome. http://us.mc1205.mail.yahoo.com/mc/w...jsrand=7043561

08-21-2010, 11:35 AM	#3 (permalink)
TXgolfer Dream Weaver Join Date: Jul 2009 Location: Everywhere Posts: 13,877	Double dips for everyone. You can pick any flavors you want......it's not going to taste good __________________ Do not be overcome by evil, but overcome evil with good. - Romans 12:21 If the world hates you, keep in mind that it hated me first.

08-21-2010, 11:42 AM	#5 (permalink)
Foxrac o_O Join Date: Mar 2005 Location: Gotham City Posts: 26,373	League of American Voters Yawn __________________ PSN: lucky3killer Xbox Live: blackmustang85 Steam ID: lucky3killer

08-21-2010, 04:06 PM	#16 (permalink)
DDU Registered User Join Date: Aug 2010 Location: north east Posts: 804	another fine mess this is stuff the TEA Party and republicans are throwing up to make obama look bad. its a crazy world we live in and politics are using every way possible to start rumors like that the prez is a muslim or that he doesn't have an american birth certificate. its called "death by a thousand cuts" __________________ when in trouble or in doubt, run in circles, scream and shout!

08-21-2010, 11:36 PM	#24 (permalink)
souggy Registered User Join Date: Jul 2009 Location: Pacific Northwest Posts: 9,541	Wirelessly posted So, how do you encourage misers to spend? The ones I know in real-life has no interest in using their wealth for luxury, retirement, charity, inheritage or for investments. The wealthy do have the rights to complain, but they are scapegoating the wrong group of people. __________________ "It is my task to convince you not to turn away because you don’t understand it." - Richard Freynman Last edited by souggy; 08-21-2010 at 11:38 PM.

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08-21-2010, 11:33 AM	#2 (permalink)
rockin'robin Registered User Join Date: Apr 2007 Location: Jacksonville, Florida Posts: 11,480	(Received this in my email....it's over my head...any input on this?)

08-21-2010, 11:39 AM	#4 (permalink)
Grummer Registered User Join Date: Jun 2006 Location: In the Batcave Posts: 7,226	ah he's an asshole, just like a few other deafies that I know of...

08-21-2010, 11:53 AM	#6 (permalink)
Grummer Registered User Join Date: Jun 2006 Location: In the Batcave Posts: 7,226	americans with diarehoarea? lol

08-21-2010, 12:03 PM	#8 (permalink)
Grummer Registered User Join Date: Jun 2006 Location: In the Batcave Posts: 7,226	no, cuz it mean flushing out uncontrollabally LOL not stuck up as a cover up of the assholes' release of shit

08-21-2010, 12:11 PM	#12 (permalink)
TWA Premium Member Join Date: Jun 2009 Posts: 5,374	Scare tactics. Nothing more.

08-21-2010, 11:12 PM	#21 (permalink)
netrox Registered User Join Date: Mar 2003 Posts: 4,783	it's amazing... I don't think you understand that tax cuts given by Bush is way too much tax cuts for the wealthy. Only top 10% makes that much money. It cracks me up that the rich tries to persuade you that you're one of the top 10%. You ain't. You are still getting more tax cuts than the top 10%. When you make $200,000 a year, you have more than enough to live comfortably. To whine about how more tax money will be used to make the government run and pay its employees is just appalling. When you make 1,000,000 and tax rate is 40%, you have 600,000 left and that's MORE than enough to have you live comfortably. There's no justification to demand more tax cuts.

08-21-2010, 11:43 PM	#27 (permalink)
souggy Registered User Join Date: Jul 2009 Location: Pacific Northwest Posts: 9,541	Wirelessly posted Yep, they do. Have no idea what they are planning to do with their money. Weird bunch... One eats dog food. __________________ "It is my task to convince you not to turn away because you don’t understand it." - Richard Freynman

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