Clueless Obama? With a budget deficit he's gonna extend the Bush tax cuts?

[Soul Crusher]

I think the figure is up to .43 cents now.

[Arnold jr]

I think the figure is up to .43 cents now.

It may be, I thought it was still in the low to mid thirties but either way it's too much and no good.

[MM2K]

Not to mention the fact that it's been proven that even if you were to extend the tax cuts for the rich only they will tend to save that extra money instead of spending.

They will invest it. They wont save it. Which creates jobs.

[tu_holmes]

They will invest it. They wont save it. Which creates jobs.

Not true at all.

They will save it.

People only spend what they need to spend. They will not go out and put more money into their businesses if it's not required and if they are putting money into investments, that will not go up.

It will, as a large percentage, be put into savings of some sort.

That said, there should be a flat tax period with no exemptions.

[Soul Crusher]

Not true at all.

They will save it.

People only spend what they need to spend. They will not go out and put more money into their businesses if it's not required and if they are putting money into investments, that will not go up.

It will, as a large percentage, be put into savings of some sort.

That said, there should be a flat tax period with no exemptions.

We want people to save money    Savings in banks is used to make loans!

Savings based loans are better than Fed Counterfieting schemes.   

[tu_holmes]

We want people to save money    Savings in banks is used to make loans!

Savings based loans are better than Fed Counterfieting schemes.   

Banks will not loan that money out... Just like they didn't when they got the bailout.

They are too busy making money on the loans and interest back and forth to the Federal Reserve... No reason to loan it to people.

[George Whorewell]

Hows this--- Today Pelosi and pals are holding a vote to decide whether or not to extend the Bush Tax cuts to the middle class..... You know, the same tax cuts that the Democrats have repeatedly insisted didn't exist for the past 7 years.

[Soul Crusher]

Banks will not loan that money out... Just like they didn't when they got the bailout.

They are too busy making money on the loans and interest back and forth to the Federal Reserve... No reason to loan it to people.

The big ones - yes - the zombies and fascist banks that need to be pout out of our misery.   You would be shocked to know the true detailes of the schemes and scams they are running.

[tonymctones]

Not true at all.

They will save it.

People only spend what they need to spend. They will not go out and put more money into their businesses if it's not required and if they are putting money into investments, that will not go up.

It will, as a large percentage, be put into savings of some sort.

That said, there should be a flat tax period with no exemptions.

"savings"

the savings rate is only about 6% Tu that money will likely be injected back into the economy in some form or another. Even if they save the money say in bank accounts, guess what? that gives banks more capital to lend out again stimulating the economy...

more than likely it will go into investments 401k's, IRA's AGAIN stimulating the economy...

whatever you feel about our current tax system at this point in time is irrelevant...THE ONLY THING THAT MATTERS RIGHT NOW IS THAT THE ECONOMY GETS BACK ON TRACK AND LETTING TAXES RAISE IS NOT THE WAY TO DO SO

[tonymctones]

Banks will not loan that money out... Just like they didn't when they got the bailout.

They are too busy making money on the loans and interest back and forth to the Federal Reserve... No reason to loan it to people.

very simplistic view...

remember how I said obama has done nothing but hurt the economic recovery?

well remember that little finereg pos he passed? the one with a frame and no details? well why would banks go lend money out when they dont know how it effects their operations, structure etc...

remember that the amount of capital reserves that banks hold got raised? well they have to raise that capital somehow...you think that may have had effects on lending?

again obama has done nothing but shit on the economy since he got in office...this tax issue is just the latest in a long stream of issues in which he is showing it yet again.

[tu_holmes]

very simplistic view...

remember how I said obama has done nothing but hurt the economic recovery?

well remember that little finereg pos he passed? the one with a frame and no details? well why would banks go lend money out when they dont know how it effects their operations, structure etc...

remember that the amount of capital reserves that banks hold got raised? well they have to raise that capital somehow...you think that may have had effects on lending?

again obama has done nothing but shit on the economy since he got in office...this tax issue is just the latest in a long stream of issues in which he is showing it yet again.

Dude... They didn't do it with Tarp.

They aren't gonna do it. It's not simplistic, it's factual.

[tonymctones]

Dude... They didn't do it with Tarp.

They aren't gonna do it. It's not simplistic, it's factual.

LOL there is a reason they didnt do it with tarp b/c they had toxic assets on their books they sured up along with all the reasons i mentioned.

this is like saying that companies wont ever spend again...

LOL trust bro once the economy gets on more sound footing they will begin to lend again...

you dont expect companies to go out and lend or spend money with so much uncertainty in the market place...uncertainty that is being injected on a daily basis by this idiotic administration and congress.

do you go out and spend money when you dont know what your finances, employment situation or abilities will be?

why do you expect business or banks to do so?

its common fuking sense, it should be common sense for obama to try and give businesses as much stability as possible but no he passes legislation after legislation that do nothing but inject more uncertainty into the market place....go look up the last basal agreement tu and then look up the finereg bill and you will start to understand why banks arent lending right now.

[tu_holmes]

LOL there is a reason they didnt do it with tarp b/c they had toxic assets on their books they sured up along with all the reasons i mentioned.

this is like saying that companies wont ever spend again...

LOL trust bro once the economy gets on more sound footing they will begin to lend again...

you dont expect companies to go out and lend or spend money with so much uncertainty in the market place...uncertainty that is being injected on a daily basis by this idiotic administration and congress.

do you go out and spend money when you dont know what your finances, employment situation or abilities will be?

why do you expect business or banks to do so?

its common fuking sense, it should be common sense for obama to try and give businesses as much stability as possible but no he passes legislation after legislation that do nothing but inject more uncertainty into the market place....go look up the last basal agreement tu and then look up the finereg bill and you will start to understand why banks arent lending right now.

I'm not saying they aren't going to lend. Of course they will, but the requirements for lending are going to be off the reservation.

[tonymctones]

I'm not saying they aren't going to lend. Of course they will, but the requirements for lending are going to be off the reservation.

they will come back down over time, they probably wont be as lax as they were before hand at least not to individual borrowers but that is probably a good thing.

fact of the matter is though that the more money the banks have the more they will be apt to lend...letting ppl keep more of their money and having them save some again the savings rate in the US is only about 6% or something like that will help even if only 1% of that is lended out.

[tu_holmes]

they will come back down over time, they probably wont be as lax as they were before hand at least not to individual borrowers but that is probably a good thing.

fact of the matter is though that the more money the banks have the more they will be apt to lend...letting ppl keep more of their money and having them save some again the savings rate in the US is only about 6% or something like that will help even if only 1% of that is lended out.

Time will tell.

So far I haven't had any issues, but my understanding is that many people do.

We'll see how the freely the credit flows in due time.

[tonymctones]

Time will tell.

So far I haven't had any issues, but my understanding is that many people do.

We'll see how the freely the credit flows in due time.

I havent either I actually still get credit card applications every week just about...

the general publics view of things is just that general, the general public feels that inflation is a severe possibility right now...just ask jagson

fact of the matter is deflation right now is a much more credible threat....

dont take the general publics views to the bank