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Mickey_Finn
Guest
See, I think Cleveland survived because the various ethnic groups stayed in their neighborhoods. The same could be said for Pittsburgh. Detroit was cleared out. The political vacuum was filled by people who were equally racist. They harbored a siege mentality that literally sealed the coffin.I prefer Reuters and the BBC, maybe even CNN in a pinch, to FOX or NBC any day of the week.
That said, I quote from this thread:
Racism may well have been a cause, but poor government and poor economics might also have.
ATB
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Mickey_Finn
Guest
i.e. I try to give helpful advice when it’s needed.
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Orogeny
Guest
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tqualey
Guest
Hi, Jerry,
Consider this, doesn’t calling this attempt at changing the Tax Code ‘The Buffet Rule’ sound so much better than 'To each according to his need, from each according to his ability"… from no less than an ‘authority’ on making an economy work then Karl Marx in 1875. But, if that sounds too political, how about these two items:
1.) Buffett could simply write a check to the US Treasury and relieve himself of all the ‘surplus’ wealth he determines he has. Actually, he could write a check for $1 billion for the back taxes he currently owes - and just bow out of this nonsense that now bears his name.
2.) ‘The Buffett Rule’ would simply not generate any more income - there is even the possibility that it could reduce income from the Treasury! Here is a link: almostclassical.blogspot.com/2012/04/april-fools-buffett-rule-political.html
Calling President Obama’s proposal ‘Political Theater’ is probably the most charitable term for this bit of economic mischief. Remember, Buffett’s secretary probably has never launched a business or been an employer or actually made a product to sell to the general population. My guess is that this secretary’s money comes from W-2 Income (wage earner) and some capital gains/dividends from stock ownership. NO ONE gets rich from W-2 income. Wealth really comes from adding to the economy by creating businesses and employment. This means someone must RISK some of their money (capital) for the opportunity of increasing their wealth. This economy of ours does not work by eveyone working for the government (N. Korea and Cuba come to mind ) In such a system there are no dreams of improving one’s economic position - becaue such dreams have no outlet since capitalism is prohibited.
My guess is that someone is going to have really look at the three 800 pound gorillas in the room: Medicare, Medicaid and Social Security entitlement programs that take the most out of the US budget - and seriously look at what can be done to reduce
their impact on outlays.
We simply can not keep on going to China to borrow more money to pay for entitlements or any and everything else. Unless we want to look like the economies of Greece and Spain and Italy we must get spending and taxes under control. Obama is avoiding this issue because it really is the ‘Third Rail’ for many politicians - but, it needs to be done, and should have been done years ago.
God bless
Consider this, doesn’t calling this attempt at changing the Tax Code ‘The Buffet Rule’ sound so much better than 'To each according to his need, from each according to his ability"… from no less than an ‘authority’ on making an economy work then Karl Marx in 1875. But, if that sounds too political, how about these two items:
1.) Buffett could simply write a check to the US Treasury and relieve himself of all the ‘surplus’ wealth he determines he has. Actually, he could write a check for $1 billion for the back taxes he currently owes - and just bow out of this nonsense that now bears his name.
2.) ‘The Buffett Rule’ would simply not generate any more income - there is even the possibility that it could reduce income from the Treasury! Here is a link: almostclassical.blogspot.com/2012/04/april-fools-buffett-rule-political.html
Calling President Obama’s proposal ‘Political Theater’ is probably the most charitable term for this bit of economic mischief. Remember, Buffett’s secretary probably has never launched a business or been an employer or actually made a product to sell to the general population. My guess is that this secretary’s money comes from W-2 Income (wage earner) and some capital gains/dividends from stock ownership. NO ONE gets rich from W-2 income. Wealth really comes from adding to the economy by creating businesses and employment. This means someone must RISK some of their money (capital) for the opportunity of increasing their wealth. This economy of ours does not work by eveyone working for the government (N. Korea and Cuba come to mind ) In such a system there are no dreams of improving one’s economic position - becaue such dreams have no outlet since capitalism is prohibited.
My guess is that someone is going to have really look at the three 800 pound gorillas in the room: Medicare, Medicaid and Social Security entitlement programs that take the most out of the US budget - and seriously look at what can be done to reduce
their impact on outlays.We simply can not keep on going to China to borrow more money to pay for entitlements or any and everything else. Unless we want to look like the economies of Greece and Spain and Italy we must get spending and taxes under control. Obama is avoiding this issue because it really is the ‘Third Rail’ for many politicians - but, it needs to be done, and should have been done years ago.
God bless
C
ComputerGeek25
Guest
I disagree with your analysis. Government should have not repealed Glass Steagel, no matter what the lobbyists wanted.Lisa, wall street worked for years to undermine the Glass-Steagal act. When they finally pulled it off with the Gramm, Leach, Bliley act. They joined the investment and savings banks and set the stage for 2008. Thats the short version of course. But, the end results were financial institutions that were too big to be allowed to fail. If they failed, they would have dragged us all into the abyss.
When the world economy was knocked over. Countries with larger governments (PIGS?) were less able to weather the storm. Now, what we see is a large push to privatize many traditional government functions. So, corporations can amass even more wealth. While governments grow too weak to oppose them.
Racism destroyed Detroit.
ATB
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ComputerGeek25
Guest
Ad Hominem. Many people here do not watch Faux News. In fact, many of us get our news from a variety of left leaning sources.Detroit was destroyed by Racism. I watched it happeen. I know you saw that silly video Whats-his-face put out. It’s not grounded in truth.
You should quit watching FOX news. Really you should.
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rlg94086
Guest
Okay. That didn’t really answer the question in a substantive manner though.rig, trying thinking of the 1% as our flock. Part of our duty to them, as shepherds. Is to ensure they get their yearly shearing.
ATB
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ComputerGeek25
Guest
I find that many here resort to a bunch of hand waving when pressed about hard numbers/facts.
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SamH
Guest
Actually it explains his position in full. Someone that is successful is going to get sheared - even if it hurts the overall economy and helps no one it makes him feel better. Obama is hoping there are a large number of people that think that way.
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stinkcat_14
Guest
Actually, in recent years Detroit has suffered from black flight. Is that racist too? If whites and blacks do exactly the same thing, then how could racism be a factor?
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stevegravy
Guest
The presidents push for the Buffett Rule is the greatest thing that has happened to America since the adoption of the constitution. It demonstrates just how smart and engaged the American public really is in wanting to tackle modernity and the vexing problems of the future.
The Buffett Rule will raise 3.8 billion dollars from the folks who can afford it we are told. That according to the CBO bean counters, the same folks who that say the US will be bankrupt by 2025. That 3.8 billion dollars will close the 1.5 trillion dollar deficit in only 400 years to retire the 2011 deficit. I’ll bet Biden may even be retired from public service when that happens. The fact so many people are talking this up only demonstrates how vastly superior all our highly educated electorate is compared to the old dead white guys that founded this country!
Of course, it presumes that the President will offer a balanced budget. Any takers on when that will happen?
The Buffett Rule will raise 3.8 billion dollars from the folks who can afford it we are told. That according to the CBO bean counters, the same folks who that say the US will be bankrupt by 2025. That 3.8 billion dollars will close the 1.5 trillion dollar deficit in only 400 years to retire the 2011 deficit. I’ll bet Biden may even be retired from public service when that happens. The fact so many people are talking this up only demonstrates how vastly superior all our highly educated electorate is compared to the old dead white guys that founded this country!
Of course, it presumes that the President will offer a balanced budget. Any takers on when that will happen?
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stevegravy
Guest
For the record what destroyed Detroit was middle class folks… black, white, asian, hispanic do not want to live in a ghetto culture.
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Cormacnl
Guest
…but less in percentage terms than people with lower incomes.They already do.
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ComputerGeek25
Guest
Wrong.
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stevegravy
Guest
Maybe it is the racism of the folks who stayed.
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_Abyssinia
Guest
Buffet rule will make the deficit worse:
online.wsj.com/article/SB10001424052702304444604577341832674519416.html
online.wsj.com/article/SB10001424052702304444604577341832674519416.html
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SamH
Guest
Many people with lower incomes actually pay 0 and in many cases get a EIC refund even though they paid nothing. Are you suggesting rich people qualify for this also?
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stinkcat_14
Guest
The problem is that if we want the size of government we have now, we all will have to pay more in taxes. If we want to give highly subsidized health insurance to old people, if we want to pay able bodied old people not to work, if we want the government to pay for nursing home care for old people, then we all will have to pay more in taxes. This is something that neither democrats nor republicans seem to understand.
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SamH
Guest
As you state “if we want”.
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