bunner: Anybody who thinks that we can SOMEHOW leave things ESSENTIALLY THE SAME as far as debt, capital and taxes and JUST CHUG ALONG is a hell of a lot more deluded then the people calling for a reboot.
Zeb Hesselgresser: Democratic rule.
Sudo_Make_Me_A_Sandwich: So he suggests raising the capital gains tax rate
jaybeezey: BUT MAKING THE RICH FAT CATS PAY THEIR FAIR SHARE WILL SOLVE EVERYTHING!
ghall3: Thunderpipes: You sound dumb. Lower revenue is not because of the Bush tax cuts. There was this thing called a recession.I mention that that was a key driver as well, but thanks for acknowledging that since it is kind of hard to blame that on Obama since it happened in 2008.So which is it? The recession and reduced government tax collection or spending that caused the deficits?Or was it actually a combination of both, with the majority of spending increases caused by wars and economic programs that are directly related to either helping the unemployed or attempts to increase economic activity?Hmm I wonder what the correct answer is?
ghall3: I hope no one is really so ill-informed to think that raising the taxes on the rich will alone solve our problems...
bunner: HeadLever: Defaulting our our debt is one of the most stupid things you could do.I think we have a different idea of "reboot".
bunner: Zeb Hesselgresser: Democratic rule.You guys... don't know how this - "America" Greece thing works, do you?
Debeo Summa Credo: david_gaithersburg: The important thing here is that Buffet and all of Obama's hedge fund friends will get to keep their 15% tax rate on investments held for milliseconds.You do realize that the 15% rate applies only to investments held for at least a year, right?
bunner: HeadLever: Bzzzt. wrongNot quite.HeadLever: When you are racking up trillion dollar deficits every year and then default on said debt, you are not going to be suddenly living in a world of rainbows and unicorns.So?HeadLever: You previous debtors are going to refuse to finance you debt any longer since they got burned and you ability to continue to issue those trillion dollars in deficts/debt are going to be VERY costly.The point is you stop pretending that trying to operate under a debt of that scale is feasible.HeadLever: I can't even imagine what interest rates would be in this type of secenairo.My guess is pretty damn low since the malarkey farmers whose only product is debt will need income.
HeadLever: Bzzzt. wrong
HeadLever: When you are racking up trillion dollar deficits every year and then default on said debt, you are not going to be suddenly living in a world of rainbows and unicorns.
HeadLever: You previous debtors are going to refuse to finance you debt any longer since they got burned and you ability to continue to issue those trillion dollars in deficts/debt are going to be VERY costly.
HeadLever: I can't even imagine what interest rates would be in this type of secenairo.
bunner: JonnyG: How easy would it be to fix all the world's financial problems? Reset everything to zero across the board. That way, profitable ventures will continue and failing ventures will fail. Rich people who deserve to be rich will become rich again. It'll all work out, I swear.Its' called jubilee and it's pretty much the only thing left to do that isn't band aids, bullsh*t and propping up the con.
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