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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Dos Equis on December 06, 2010, 04:28:10 PM
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Good compromise. This also makes taxes a very clear issue for the 2012 elections.
Obama announces proposed deal on taxes, jobless benefits
From Ed Henry, CNN Senior White House Correspondent
December 6, 2010
Washington (CNN) -- President Barack Obama on Monday announced a deal with Republican leaders that would extend Bush-era tax cuts for two years and unemployment benefits for 13 months while also lowering the payroll tax by two percentage points for a year.
The compromise, worked out in negotiations involving the White House, the Treasury and congressional leaders from both parties, includes provisions that each side doesn't like, Obama said in a hastily arranged statement to reporters after discussing the proposed deal with Democratic leaders.
"It's not perfect," Obama said of the plan, which also would continue tax breaks for students and families contained in the 2009 stimulus bill and allow businesses to write off all investments they make next year. "We cannot play politics at a time when the American people are looking for us to solve problems."
As outlined by Obama and sources, the deal would add trillions of dollars to federal spending in coming years by extending the lower tax rates as well as the jobless benefits at a time when the president, Republican leaders and a federal deficit commission appointed by the president all say that the growing federal debt must be brought under control.
It includes the temporary 2 percentage-point reduction in the payroll tax to replace Obama's "making work pay" tax credit from the 2009 economic stimulus package for lower-income Americans. An administration source familiar with the talks said the one-year reduction of the payroll tax would bring savings of about $1,000 for someone making $50,000.
House Democrats, who have approved a measure extending the Bush-era tax cuts for family incomes up to $250,000 a year, indicated earlier Monday they were unhappy with the negotiations that the White House was conducting with congressional Republicans.
"We won't rubber stamp a deal between the White House and (Senate Minority Leader) Mitch McConnell," one Democratic congressional source told CNN. "We want to make it clear. Don't take our support for granted."
House Speaker Nancy Pelosi, D-California, and Majority Leader Steny Hoyer, D-Maryland, were among Democratic leaders who attended a White House meeting with Obama and Vice President Joe Biden to discuss the proposed deal.
According to the senior Democratic source, Obama and Biden told the congressional Democrats that the proposed deal was the best they could expect.
Liberal House Democrats are believed to be among the most reluctant in Congress to agree to a deal extending all of the 2001 and 2003 tax cuts.
The House measure, which was blocked from consideration in the Senate by a Republican filibuster, would cause tax rates to increase to 1990s levels for individuals making more than $200,000 a year and families earning more than $250,000. Senate Republicans blocked a similar proposal that set the income threshold for higher tax rates at anything over $1 million.
Top senators from both parties had indicated Sunday that a deal linking the extension of lower tax rates for everyone with extended unemployment benefits was likely. Congress would continue working on a long-term plan to reduce the nation's debt.
Democrats contend the nation must prevent working-class Americans from facing higher taxes, as promised by Obama in his 2008 election campaign, but can't afford the extra hundreds of billions of dollars it would cost to maintain the tax cuts for the wealthy. Republicans argue that the economy remains too weak to allow anyone's taxes to increase.
Earlier Monday, Obama reiterated his position that extending the cuts for the wealthiest Americans would be fiscally irresponsible, and stressed the opinion of Democratic leaders that an extension of unemployment benefits needs to be part of any agreement with the GOP.
"We have got to find consensus here because a middle-class tax hike would be very tough, not only on working families, it would also be a drag on our economy at this moment," Obama told an audience in Winston-Salem, North Carolina.
"We've got to make sure that we are coming up with a solution even if it is not 100% of what I want or what the Republicans want," he said.
http://www.cnn.com/2010/POLITICS/12/06/obama.taxes.debates/index.html?hpt=C1
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Far left in complete panic and meltdown.
http://www.huffingtonpost.com/2010/12/07/white-house-defends-lopsi_n_793023.html
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More class warfare.
House Democrats defy Obama on tax cut bill
By: CNN's Dana Bash and Deirdre Walsh
(CNN) - Defying President Obama, House Democrats voted Thursday not to bring up the tax package that he negotiated with Republicans in its current form.
"This message today is very simple: That in the form that it was negotiated, it is not acceptable to the House Democratic caucus. It's as simple as that," said Democratic Congressman Chris Van Hollen.
"We will continue to try and work with the White House and our Republican colleagues to try and make sure we do something right for the economy and right for jobs, and a balanced package as we go forward," he said.
The vote comes a day after Vice President Biden made clear to House Democrats behind closed doors that the deal would unravel if any changes were made.
"Wow did the [White House] mishandle this," a senior House Democratic Source told CNN. "Breathtaking. Members have major substantive concerns and they should have gently guided people to the finish line."
Rep. Peter DeFazio of Oregon said: "They said take it or leave it. We left it."
Had added the caucus resolution is technically not binding, but believes House Speaker Nancy Pelosi "will follow the wishes of her caucus."
The vote came less than an hour after Obama himself urged Congress to pass the compromise he struck with GOP leaders earlier this week and warned that failing to do it could cost jobs.
"There is an important debate on Capitol Hill that will determine in part whether our economy moves backward or forward," Obama said at an Export Council meeting. "The bipartisan framework we have forged on taxes will not only protect working Americans from seeing a major tax increase on January 1, it will provide businesses with incentives to invest, grow, and hire."
"Every economist I have talked to or read over the last couple of days acknowledges that this agreement would boost economic growth in the coming years and has the potential to create millions of jobs," Obama continued. "The average American family will start 2011 knowing that there will be more money to pay the bills each month, more money to pay for tuition, more money to raise their children," he said. "But if this framework fails, the reverse is true. Americans will see it in smaller paychecks that will have the effect of fewer jobs."
http://politicalticker.blogs.cnn.com/2010/12/09/house-democrats-defy-obama-on-tax-cut-bill/?hpt=T1&iref=BN1
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More class warfare.
so true
Repubs held unemployment benefits and tax cuts for 98% of the population hostage so they could get tax cuts for millionares and billionares
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so true
Repubs held unemployment benefits and tax cuts for 98% of the population hostage so they could get tax cuts for millionares and billionares
Or,
Democrats hold up tax cuts for 100% of the population hostage, so they can "stick it" to the rich. Plus, since when are you supposed to be on unemployment for nearly two years?
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so true
Repubs held unemployment benefits and tax cuts for 98% of the population hostage so they could get tax cuts for millionares and billionares
Yeah thats what they did ::) What is with you lefties and this need to make successful people out to be the bad guy? Since the tops 5% pay about 50% of the taxes, lets stick it to them ::)
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Yeah thats what they did ::) What is with you lefties and this need to make successful people out to be the bad guy? Since the tops 5% pay about 50% of the taxes, lets stick it to them ::)
Plus, Obama and the Dems had TWO YEARS to deal with this issue. And he had a SUPERMAJORITY in the Senate. If this were so important, couldn't they have just repealed the law outright?
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Plus, Obama and the Dems had TWO YEARS to deal with this issue. And he had a SUPERMAJORITY in the Senate. If this were so important, couldn't they have just repealed the law outright?
Yes i find it amusing when dickheads like Weiner get on TV and say that this will add to the deficite. Really how? The government hasn't been collecting the money for the last 10 years.
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Yes i find it amusing when dickheads like Weiner get on TV and say that this will add to the deficite. Really how? The government hasn't been collecting the money for the last 10 years.
Was that a play on words?
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Yeah thats what they did ::) What is with you lefties and this need to make successful people out to be the bad guy? Since the tops 5% pay about 50% of the taxes, lets stick it to them ::)
the only problem is we can't afford it
they first ten years of tax cuts were paid for with borrowed money so who did we "stick it to" from 2001 thru 2010?
I thought Repubs were supposedly the defict hawks and I'm sure they will be again as soon as the next issue comes up that they don't like (most likely it will be something that won't benefit millionares so then the deficit will all of a sudden become important again)
I said let all the tax cuts expire
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the only problem is we can't afford it
they first ten years of tax cuts were paid for with borrowed money so who did we "stick it to" from 2001 thru 2010?
I thought Repubs were supposedly the defict hawks and I'm sure they will be again as soon as the next issue comes up that they don't like (most likely it will be something that won't benefit millionares so then the deficit will all of a sudden become important again)
I said let all the tax cuts expire
::) ::)
Yes you had no prbleem spnding 800 billion on the faux stim bill?
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::) ::)
Yes you had no prbleem spnding 800 billion on the faux stim bill?
you mean the ones Repubs and the CBO (along with Dems of course) claimed saved/created jobs?
If you're agains the Stim Bill then you should be against extending the tax cuts *
* unless you have a way to pay for them
can't have it both ways
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the only problem is we can't afford it
they first ten years of tax cuts were paid for with borrowed money so who did we "stick it to" from 2001 thru 2010?
I thought Repubs were supposedly the defict hawks and I'm sure they will be again as soon as the next issue comes up that they don't like (most likely it will be something that won't benefit millionares so then the deficit will all of a sudden become important again)
I said let all the tax cuts expire
LMFAO NOW NOW YOURE WORRIED ABOUT SPENDING, FUKING REALLY?
how about half of the shit obama has done since he got in? didnt hear you bitching then? why now?
fact is this will have a beneficial impact not only on the pocket books of everday americans but also businesses trying to make plans for the upcoming year...
I guess the unemployment rate isnt a big concern for you, except when you want to use those unemployed for a see through bull shit excuse to hate on reps ::)
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you mean the ones Repubs and the CBO (along with Dems of course) claimed saved/created jobs?
If you're agains the Stim Bill then you should be against extending the tax cuts *
* unless you have a way to pay for them
can't have it both ways
Yes I can, the Stim Bill didnt do jack shit but create make work and help steer 450 Million to china and politically connected donors to obama and are using it to leverage a deal for themselves where they will be worth 2 Billion.
HHOOOAAAXXX & CCCHHAANNNGGGEEEE
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you mean the ones Repubs and the CBO (along with Dems of course) claimed saved/created jobs?
If you're agains the Stim Bill then you should be against extending the tax cuts *
* unless you have a way to pay for them
can't have it both ways
how many jobs straw?
how much did it cost straw?
let me know if you need me to do the math there on how much each job cost I know finance isnt your strong point ;)
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More class warfare.
House Democrats defy Obama on tax cut bill
By: CNN's Dana Bash and Deirdre Walsh
(CNN) - Defying President Obama, House Democrats voted Thursday not to bring up the tax package that he negotiated with Republicans in its current form.
"This message today is very simple: That in the form that it was negotiated, it is not acceptable to the House Democratic caucus. It's as simple as that," said Democratic Congressman Chris Van Hollen.
"We will continue to try and work with the White House and our Republican colleagues to try and make sure we do something right for the economy and right for jobs, and a balanced package as we go forward," he said.
The vote comes a day after Vice President Biden made clear to House Democrats behind closed doors that the deal would unravel if any changes were made.
"Wow did the [White House] mishandle this," a senior House Democratic Source told CNN. "Breathtaking. Members have major substantive concerns and they should have gently guided people to the finish line."
Rep. Peter DeFazio of Oregon said: "They said take it or leave it. We left it."
Had added the caucus resolution is technically not binding, but believes House Speaker Nancy Pelosi "will follow the wishes of her caucus."
The vote came less than an hour after Obama himself urged Congress to pass the compromise he struck with GOP leaders earlier this week and warned that failing to do it could cost jobs.
"There is an important debate on Capitol Hill that will determine in part whether our economy moves backward or forward," Obama said at an Export Council meeting. "The bipartisan framework we have forged on taxes will not only protect working Americans from seeing a major tax increase on January 1, it will provide businesses with incentives to invest, grow, and hire."
"Every economist I have talked to or read over the last couple of days acknowledges that this agreement would boost economic growth in the coming years and has the potential to create millions of jobs," Obama continued. "The average American family will start 2011 knowing that there will be more money to pay the bills each month, more money to pay for tuition, more money to raise their children," he said. "But if this framework fails, the reverse is true. Americans will see it in smaller paychecks that will have the effect of fewer jobs."
http://politicalticker.blogs.cnn.com/2010/12/09/house-democrats-defy-obama-on-tax-cut-bill/?hpt=T1&iref=BN1
What? Dems are such slow learners. Just wait till the next elections.
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What? Dems are such slow learners. Just wait till the next elections.
Yep. They didn't get the message in November.
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Yep. They didn't get the message in November.
Next election may be even worse in the Senate if they keep up this madness.
Beach - check out my thread on the 450 million reid and obaa are steering o the chinese.
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LMFAO NOW NOW YOURE WORRIED ABOUT SPENDING, FUKING REALLY?
how about half of the shit obama has done since he got in? didnt hear you bitching then? why now?
fact is this will have a beneficial impact not only on the pocket books of everday americans but also businesses trying to make plans for the upcoming year...
I guess the unemployment rate isnt a big concern for you, except when you want to use those unemployed for a see through bull shit excuse to hate on reps ::)
you're concerned about unemployment?
how about economic growth and recovery
are you concerned about that?
do you know part of this proposed tax deal will have the most stimulative effect on the economy? (the biggest bag for our borrowerd buck)?
do you know what part will have the least effect?
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you're concerned about unemployment?
how about economic growth and recovery
are you concerned about that?
do you know part of this proposed tax deal will have the most stimulative effect on the economy? (the biggest bag for our borrowerd buck)?
do you know what part will have the least effect?
LOL how is taking more money from the hands of its citizens and giving it to a wasteful govt going to help the growth and recovery of the economy? THATS THE REASON WE EXTENDED THE TAX BREAKS ::)
You look at this as lost revenue but its not because it wasnt revenue in the FIRST PLACE, get that through your head...
letting ppl keep more of their money will do alot more for the economy than taxing them more ::)
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LOL how is taking more money from the hands of its citizens and giving it to a wasteful govt going to help the growth and recovery of the economy? THATS THE REASON WE EXTENDED THE TAX BREAKS ::)
You look at this as lost revenue but its not because it wasnt revenue in the FIRST PLACE, get that through your head...
letting ppl keep more of their money will do alot more for the economy than taxing them more ::)
it's estimated that by including the tax cuts for the rich in the package we'll actually get less stimulus and less job growth than if they were excluded:
http://wonkroom.thinkprogress.org/2010/12/07/comparing-priorities/
As CAPAF’s Michael Linden and Michael Ettlinger noted, the various components of the tax deal (outside of the broad Bush tax cuts) will save or create about 2.2 million jobs. If, however, the GOP’s priorities were discarded in favor of further cuts in the payroll tax, that number would increase to 2.7 million, an addition of 500,000 jobs.
where did we get the money to pay (fill in the deficit) created by the Bush Tax cuts from 2001 thru 2010?
where will we get the money for the current round of tax cuts
Do you have any idea what has the greatest stimulative effect of the current proposed legislation?
How about the least effect?
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The greatest stimulus we could get right now is a regination letter from Obama and his entire admn.
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it's estimated that by including the tax cuts for the rich in the package we'll actually get less stimulus and less job growth than if they were excluded:
http://wonkroom.thinkprogress.org/2010/12/07/comparing-priorities/
where did we get the money to pay (fill in the deficit) created by the Bush Tax cuts from 2001 thru 2010?
where will we get the money for the current round of tax cuts
Do you have any idea what has the greatest stimulative effect of the current proposed legislation?
How about the least effect?
LOL your link says its b/c of further payroll tax cuts not b/c of the 1% bull shit nice try though ::) whats stopping the further pay roll taxes right now? garuntee you its not the reps ;)
HOW ABOUT WE STOP FUKING SPENDING!!!!!!!!!!!!!!!!!!!!!!! I know its a novel concept but hey how about lets try spending less
why do you continue to advocate taxing more instead of spending less?
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you mean the ones Repubs and the CBO (along with Dems of course) claimed saved/created jobs?
If you're agains the Stim Bill then you should be against extending the tax cuts *
* unless you have a way to pay for them
can't have it both ways
How exactly does one pay for tax cuts? Seems to me the government should have to hold their spending to what tax they collect.
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How exactly does one pay for tax cuts? Seems to me the government should have to hold their spending to what tax they collect.
NO NO NO NO, in straws mind the tax payers work only to pay the govt
he would probably like to see a 100% tax b/c then there would be no lost revenue, right straw ::)
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NO NO NO NO, in straws mind the tax payers work only to pay the govt
he would probably like to see a 100% tax b/c then there would be no lost revenue, right straw ::)
Well thats the point, the whole concept of the argument is retarded. Obviously the government doesn't listen to what the people say and do whatever they want, so it is those dumbass's responsibility to cut what needs to be cut.
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NO NO NO NO, in straws mind the tax payers work only to pay the govt
he would probably like to see a 100% tax b/c then there would be no lost revenue, right straw ::)
when did I ever say or even suggest that
this country creates the economic environment that enables people to get wealthy and we (as a country) have every right and actually the responsibility to keep this economic enviroment stable.
Taxes are the lowest that they have ever been and the country has the largest debt ever and the largest gap between rich and middle class and rich and poor.
I was talking with a friend yesterday who used to make about 750k in an average year and he's been below 200k for the last two years. He said he would much rather be making 750k and pay a a bit more in taxes than make 200k and get a tax cut.
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when did I ever say or even suggest that
this country creates the economic environment that enables people to get wealthy and we (as a country) have every right and actually the responsibility to keep this economic enviroment stable.
Taxes are the lowest that they have ever been and the country has the largest debt ever and the largest gap between rich and middle class and rich and poor.
I was talking with a friend yesterday who used to make about 750k in an average year and he's been below 200k for the last two years. He said he would much rather be making 750k and pay a a bit more in taxes than make 200k and get a tax cut.
I didnt know our tax rates were resposibile for his income fluctuating like that. How does that work?
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I didnt know our tax rates were resposibile for his income fluctuating like that. How does that work?
I didn't say our tax rates were responsible for his income fluctuating
I said he used to make a lot more money and he rather make more money again and pay a marginaly higher tax rate if he had to.
i.e - he doesn't give a shit about a marginal tax hike or cut of 3%
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when did I ever say or even suggest that
this country creates the economic environment that enables people to get wealthy and we (as a country) have every right and actually the responsibility to keep this economic enviroment stable.
Taxes are the lowest that they have ever been and the country has the largest debt ever and the largest gap between rich and middle class and rich and poor.
I was talking with a friend yesterday who used to make about 750k in an average year and he's been below 200k for the last two years. He said he would much rather be making 750k and pay a a bit more in taxes than make 200k and get a tax cut.
No taxes are not the lowest they have ever been, see 16th Amendment. So how did the country survive until 1913?
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I didn't say our tax rates were responsible for his income fluctuating
I said he used to make a lot more money and he rather make more money again and pay a marginaly higher tax rate if he had to.
i.e - he doesn't give a shit about a marginal tax hike or cut of 3%
No kidding - I think we all agree with that, but hiking taxes is not going to result in him making 500k more in his business activities.
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when did I ever say or even suggest that
this country creates the economic environment that enables people to get wealthy and we (as a country) have every right and actually the responsibility to keep this economic enviroment stable.
Taxes are the lowest that they have ever been and the country has the largest debt ever and the largest gap between rich and middle class and rich and poor.
I was talking with a friend yesterday who used to make about 750k in an average year and he's been below 200k for the last two years. He said he would much rather be making 750k and pay a a bit more in taxes than make 200k and get a tax cut.
you still havent answered how taxing more and giving more money to the govt gives us a stable economy?
if youre worried about a stable economy you should have been bitching for the last 2 years while obama did nothing but destabilize it, but yet you didnt
things that make you go, hmmmmmmm
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No taxes are not the lowest they have ever been, see 16th Amendment. So how did the country survive until 1913?
good point
It does apear that Republicans would love to go back to the era of the robber barons
that was a great time for the average american too
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good point
It does apear that Republicans would love to go back to the era of the robber barons
that was a great time for the average american too
Straw - the robber barons of te old days had nothing on the robber barons of today onwall street At least those guys built railroads and put forth the industrial revolution.
today we have Goldman Sackthe Treasury, BOA, schemes, scams, and ponzinomics that add nothing to the nation.
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Straw - the robber barons of te old days had nothing on the robber barons of today onwall street At least those guys built railroads and put forth the industrial revolution.
today we have Goldman Sackthe Treasury, BOA, schemes, scams, and ponzinomics that add nothing to the nation.
so I guess you're for more regulation then?
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so I guess you're for more regulation then?
On the sams, schemes, and ponzinomics?
Yes in that i want to reanact Glass Steagal as well as bring bac the idea of moral hazard that wehave breached with all the bailouts.
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The whole point is, it is not the American people that caused this fucking mess, it is the ruling class in DC. So why are we expected to shell out more to the government?
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The whole point is, it is not the American people that caused this fucking mess, it is the ruling class in DC. So why are we expected to shell out more to the government?
Exactly - screw these assholes in the govt - let them go without for once.
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Exactly - screw these assholes in the govt - let them go without for once.
you might get your wish when the vote to raise the debt ceiling comes up next year
something tells me Repubs will all of sudden care about the deficit again
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you might get your wish when the vote to raise the debt ceiling comes up next year
something tells me Repubs will all of sudden care about the deficit again
Straw - its going to happen on way or another.
Why have a limit t begin with if we keep raising it?
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you still havent answered how taxing more and giving more money to the govt gives us a stable economy?
if youre worried about a stable economy you should have been bitching for the last 2 years while obama did nothing but destabilize it, but yet you didnt
things that make you go, hmmmmmmm
would like an answer to the bold
and why you werent worried about stablizing the economy for the past 2 years?