Raise taxes on foreign income, ship more jobs overseas

Kyle, I disagree. Germany has a similar policy and is the #2 exporter in the world, surpassing the US despite having a population only slightly more than a quarter of the US. Companies should not recieve tax incentives to send jobs overseas.

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No one listens to Obama. He’s lost all of his credibility and his own voting bloc has left him.

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Tommy take off, you sound like a frenchy.

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I see ole Bookman has yet another “bash Fox” column for the left wingers to rant about.

Gotta suck to be a liberal these days.

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Heck let’s just drop all taxes. Then we can have prosperity for all according to conservatives, although we won’t have a country. That way the rich can buy whatever they want.

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The WSJ continues to compare apples with oranges when giving examples of statutory corporate tax rates. They should be focusing on effective corporate tax rates (percentage of profits actually paid in taxes after deductions and credits are applied). Despite our relatively high statutory corporate rates, U.S. effective tax rates are relatively low by OECD standards. That said, I’d support simplifying the corporate tax code such that we have lower statutory rates along with fewer deductions and credits.

By the way, it’s worth pointing out that this editorial overgeneralizes (again) with the implication that taxes are the only factor that comes into play when business is deciding where to locate their operations. In fact, worker skills, educational systems, physical infrastructure, and local economic factors (Ireland isn’t doing so well) are just some of the other factors considered.

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“CAIR Bears: What’s a ‘liberal’ ?”

An Obama cult follower.

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“That way the rich can buy whatever they want.”

Democrat congressmen already buy what they want.

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This is simply a pre-election sound bite. The government knows they cannot enforce this type of program. I am retired, but worked for a large international company. This company had legal entities all over the world. It was a very simple matter to shift profits to an entity with lower tax rates, and bank the money internationally so that it was not brought into the US.

This may indeed hurt smaller companies who do not have the benefit of expert international tax and legal resources, but for most larger companies this will not be a blip on their screen.

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Not So nailed it.

Tax increases are just one arrow in the liberal quiver to grow government and punish achievers. Another arrow is onerous regulation, which has the beauty of being launched without the messiness of having to take a vote.

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Mr. Wingfield, I concur that it is fair to question this aim.

But as a relevant retort, why then do “fiscal conservatives” never, ever question the destructive effects of “export assistance programs” and other forms of contrived corporate welfare? (Which I would be happy to list in detail.)

Presuming that you and they agree that the wholesale export of American jobs and entire industries (Payroll processing, airline passenger billings, insurance computer applications, new software designs, among MANY others) overseas has had a devastating effect on working American families…

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BTW, I think Volcker is a straight shooter with integrity and am always interested in hearing what he has to say. He has advised every president since Nixon and played a major roll in the financial regulatory bill passed earlier this year.

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“Sheez where does this stuff come from?”

Uh, ever hear of the Obama administration and its anti-business pro-government policies?

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Sinkwich: anti-business, pro-government policies?

What universe are you living in? Where did you get the idea that these two are locked in opposition and not part of a tightly-knit, balled-up, and reciprocal process? Good god even the Tea Partiers understand that much.

Where does this garbage come from!

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“…data finds that the effective combined U.S. federal and state tax rate on new capital investment,…”

I believe we were talking about effective tax rates on all corporate profits. I’m not entirely how CATO arrived at these figures, but yes, they are cherry-picked. The U.S. effective corporate tax rate is below the OECD average.

As I said, I agree that the statutory rate needs to be lowered. Do you know Volker’s position on reducing the corporate credits/deductions so that the effective tax rate isn’t affected? The WSJ doesn’t say. It also doesn’t tell you that Volker supports an energy tax and VAT. In other words, Volker’s support for lowering the corporate statutory rates have context that the WSJ doesn’t bother to share with its readers.

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Kyle: “The growing gap between the U.S. corporate tax rate and the corporate tax rates of most other countries generates incentives for U.S. corporations to shift their income and operations to foreign locations with lower corporate tax rates to avoid U.S. rates.’ ”

Wait a minute, Kyle. I thought the rest of the world was a tide of over-taxation and creeping socialism that constantly threatened to overwhelm the world’s one remaining island of good republican virtue? So now you’re saying we actually OUGHT to be following the lead of such other taxation regimes as the EU?

My, seems like quite a switch.

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“You seem to think you’re not much of a follower yourself?”

Question fail.

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“And yet, he’s a socialist.”

Nah, he’s just an incompetent left winger who has absolutely no idea how the economy works.

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“I think your premise is incorrect, because many “fiscal conservatives” do question the destructive effects of corporate welfare.”

Then there must be a plethora of salient quotes and calls for the end of these giveaways, no?

Would you help me out on this Kyle, as seriously I cannot seem to find them…

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“Thanks, Kyle. Excellent stuff. Tons of great ideas there, IMHO”

AmVet, you are one wacky individual. On Bookman’s blog, you attack, attack, name call, attack and name call some more. On Kyle’s blog you act civil and refrain from attacking.

The nursing home must have a field day with you.

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Obama doesn’t understand business or how to make jobs. The middle class will have to pay the taxes, if they want jobs, and not just soak corporations and the rich.

The world is a competitive place and both parties have sold our economy down the river. The Dems have pulled us out of the ditch with some stimulus (they’ve stopped the bleeding). We need the Republicans now to fix the remaining problems and get our fed budget under control.

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jconservative @ 3:23, The $13.3 T is just a drop in the bucket. Don’t forget the $111 T in unfunded liabilities to social security & medicare, that there are 829 banks that are at risk of failing, that the federal reserve just bought $1.4 T of our debt, that GM sales are down 25%, that 1 out of every 6 Americans are receiving govt. assistance, that 47 states are facing budget shortfalls, that Fannie Mae & Freddie Mac are in receivership & the US owns or guarantees most of the mortgages under water.

In the NY Post on 9/19, economist Lawrence Kotlikoff with Boston University said, “The govt. is lying about the amount of debt. It is engaging in Enron accounting.” He said the $13.4 T is really $200 T.

The examples I used above are in addition to his $200 T.

I know how to solve the crisis. Both times I referred to these articles directly from the Dept. of Energy, Kyle put me in the corner (moderation). Last time, he never let me out.

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Well, we have a huge deficit and a lot of debt and anything anyone brings up to close the gap is “not pro business”. That’s just rhetoric. I’m sure they did an in depth analysis on globalization in general and applied it to that number. Whatever.

How about cutting the defense and war on terror budget in half and cutting every other departments budget in the federal sector by 10%. Couple that with raising taxes on EVERYONE by 5% and taxing overseas profits by an additional 5%. While we’re at it, how about doing an austerity plan to cut social security benefits now to stabilize the system?

That pretty much irritates everyone and it gets us going on getting a balanced budget. Oh yeah, that’s not really the goal. The goal is to root for your posse and grab as much as you can when they are in office. My bad. I’ll get back to work now.

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jconservative, you have asked the one question that no one is willing to answer. America has become like the teen whose parents have bought them everything. That teen has no clue as to where the money comes from. He/she just thinks it materializes. Americans have become accustomed to hearing the political (to get elected) catch phrases, “no more taxes”, “no taxes on my watch”, read my lips, “no more taxes”. Well, the grim reaper has arrived. The blunt truth is that without revenue, bankruptcy. Remember Eastern Air Lines. Even when they went bankrupt there were disbelievers. As any reasonable economist knows the airline industry relies upon its cash flow (and most businesses that operate on razor thin margins do as well). Cut the cash flow, business goes under. So what is the threat you raise with your question, what’s wrong with revenue? Nothing, but not enough of it … el busto, no more business.

Some reading this will say, “never will happen”. So my question to you is, “will you guarantee it?”

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Thanks for the explanation, Kyle. I could not understand why the sites caused suspicion.

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This is the way to pay off the debt AND eliminate taxes!!!!!!!!

First of all, the states need to take back from the federal govt. the land the feds. took that just happen to contain our natural resources: 84.5% of Nevada, 69.1% of Alaska, 57.4% of Utah, 53.1% of Oregon, 50.2% of Idaho, etc.

According to the Dept. of Energy, the US has proved oil reserves of 21.9 billion barrels. New oil recovery using CO2 could add 89 B barrels to recoverable oil resources in the US, which would give the US the 5th largest oil reserves in the world (110.9 B barrels). (Iraq has 115 B barrels.)

The DOE also found that “multiple advances in technology & widespread sequestration of industrial CO2 could eventually add as much as 430 B new barrels to the technically recoverable resource.” Adding another 430 B barrels would make the US the largest source of oil reserves in the world, ahead of Saudi’s more than 261 B barrels.

There’s 2 websites. Here’s one:

http://www.fossil.energy.gov/news/techlines/2006/06015-Oil_Recovery_Assessments_Released.html

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Here’s the other one:

http://www.fossil.energy.gov/programs/oilgas/eor/index.html

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Linda, the problem with a lot of the US supply of oil is that it is difficult to get and, therefore, very expensive. In some cases you have to heat the rocks hundreds of feet below ground to several hundred degrees just to get it to flow. So when people say we aren’t running out of oil, they are correct. We are running out of cheap oil.

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HDB and LWM,

The loan and housing problems began with the Clinton administration and the requirement of lenders to make loans to those who we knew were incapable of repayment. Add to that the “no money down” provisions and “no or low doc” loans so more of those who were not credit worthy could buy a house and now not only are they incapable of making the payments but they have “no skin in the game”, so defaults rise.

Lenders were faced with making the loans or being forced out of business by the Clinton administration so Wall Street devised the inclusion of the bad loans with good loans to sell into the market place. Now the investors did not know whether they had bad loans or good loans nor did they know the extent of the bad mixed with the good and the result was chaos.

Barney Frank, Chris Dodd and Maxine Watters are on record denying there was any problem in the lending market or with Fannie or Freddie and ultimately blocking any regulation of expansion of the government backed programs. Of course their close bud, Franklin Raines, cooked the books and paid himself a sum in the neighborhood of $100 Million but again no investigation of the bookkeeping or attempts to indict Raines who later reappears as a member of the Obama campaign team.

Raines’ name also shows up in the ownership records, along with Soros, Gore and other Dems, of the software to manage the market for carbon credits. The whole “green movement” is simply another liberal hoax to peel away dollars from the US economy and taxpayers for their personal benefit.

The only true regulation the government needs is to keep liberals away from the federal coffers and out of the taxpayers pockets.

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Don’t forget @ 5:16, For decades, the fed. govt. has been telling us that we can’t drill for our own oil because we have to save the planet, while, at the same time, having us buy oil primarily from Canada & Mexico, as if they were on different planets. The fed. govt. tells us we don’t have enough of our own natural resources, while, at the same time, confiscating land where they are located. They have not allowed us to build any new refineries or nuclear power plants for decades. Last year, Obama shut down the opening of a nuclear waste facility that has cost the US & taxpayers billions. The feds. gave up an opportunity to build a natural gas facility that would have produced jobs both in its construction & operation. It’s in Mexico. Obama is funding the drilling of oil for Brazil’s oil company to be used by China.
I did not write the articles. I thought the DOE sounded optimistic. Notice they were written pre-Obama. Don’t you think Sarah Palin would be a great DOE secretary?

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Don’t forget @ 5:19, The Dems. read books by starting in the middle. They disregard the beginning of the subprime crisis, which began in the ’90s when the Dems. passed laws that REQUIRED the GSEs to make these loans. It was ideology, that home ownership was a right, not a privilege, that people who were unemployed, had bad credit but no money were entitled to homes. It was the beginning of a tsunami that turned the world upside down.

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Marco Rubio:

“Number one, I don’t want to see any
benefit reductions or changes for current retirees or people close to retirement. And at number
two, I want to see social security survive for me, my generation and my children’s generation as
well. And, number three, I want to ensure that the long-term problems in social security don’t
bankrupt our country.”

What’s a fiscal conservative to do? Even a “tea party republican” guy isn’t for social security reform. What has become of this country?

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Increased taxation has never been the answer to retiring the debt and will not in the future. The only means to pay the debt is through a booming economy and the only means to a boom is less federal intervention, lower taxes and utilization of our vast natural resources.

Essentialy we must give the free market the freedom to expand, thus providing incentive to business to hire workers and return to an economy that actually produces goods along with services. The only means to this end is a lowering of taxes on business, a reduction in the size of government at all levels, the return to a United States with a single language, secure borders and the removal from office of those politicians who continue to ignore history and work toward the destruction and not construction of the United States.

Prices of goods and services produced in the US have been artificially inflated as businesses pass the additional cost of taxes, along with the increased costs of adhering to unreasonable federal regulation and oversight – to the consumer.

The burden of providing health insurance, retirement and other perks need to be removed from the salary scale and individuals should be responsible for their own needs in these areas. Unions have long ago outlived their usefulness and are an unreasonable burden upon business and this has never been more evident than in the Chrysler and GM bailout.

If firing a private sector president, denying the bond holders their position in the bankruptcy and then handing over an ownership interest in GM to a labor union IS NOT an indication of the Obama Administration’s contempt for private business in the eyes of Liberals then there is no hope for free enterprise and Democrats to coexist.

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AvVet: “The facts are irrefutable, the corporate destruction of capitalism started long before Slick Willy”

Which is an interesting insight in itself.

Were Lenin and Marx not right all along. Capitalism’s biggest enemies are capitalists themselves.

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Amvet,

As usual you are wrong. As Linda noted earlier the CRA was the basis for the slide but the Clinton Administration put the process into high gear with the threat of government intervention if the loans I descrbed earlier were not made to the individuals who were unworthy. The market simply reacted to the directives of the government. Your close pal, Barney Frank, was a chief instigator of the problem.

The S&L situation, not “scandal” as you characterize, was a government creation. The federal regulators stepped in and classified loans upon which not one payment had been missed as reasons for government intervention. The government’s Resolution Trust Corporation closed S&L’s and took over the properties only to allow the assets to waste away under a cloud of poor management and failure to dispose of the assets in a manner consistent with sound business practice. As usual a government program was a collossal failure and destroyed individuals and private businesses along the way.

Government seems to destroy all that comes into contact with the bureaucracy, whether that be the incentive to work for welfare recipients, the incentive to look for a job by the unemployed or the failure by government to keep their hands out of private cookie jars.

Contrary to Obama and Liberal Democrat theology, the money earned by private citizens is not property of the government, was not earned as result of the good grace of government and was more accurately earned IN SPITE of government rather than as a result of government.

Return government to the constrictions outlined in the Constitution, basically a means of providing for the defense of the individual states, and allow the public sector to deal with government-supported thieves in the economy such as Goldman Sachs.

If the federal government would step out and deny any former employee of Goldman to work for or advise anyone in government at any level then that is one bit of Socialism I might support. Only because there is little hope the D’s and R’s will surrender their power over us willingly and Goldman may very well be the root of all evil.

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Linda, George Bush and Hank Paulson nationalized the GSEs. And used the government as a backdoor bailout for banks — a hidden PPIP/TARP. They were used to buy all the garbage mortgages that banks were desperate to get off their balance sheets.

Democrat theology?

Is that some sort of Coulterish Repubispeak?

Or is it merely every day psychobabble?

The CRA was TINY aspect of the meltdown.

If they were so huge how does explain the more massive housing bubbles in California or S. Florida or Las Vegas or Arizona?

This is just a deflection for those who still have no idea what really happened…

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“Were Lenin and Marx not right all along. ”

No, but I’ve been right all along in assuming left wingers were commie retards.

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Wingnut, you’re using words like “protectionist” as if it’s a bad thing. It’s a good thing. Protecting the American economy is a good thing.

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Amvet,

Are you really that dense?

“If they were so huge how does explain the more massive housing bubbles in California or S. Florida or Las Vegas or Arizona?”

The orders from Clinton to make loans in the “red lined areas” and to those without credit, collateral or character (you know the 3 C’s of lending I hope) opened the flood gates for risky loans in all states and essentially created the facade of free money.

As for the states you cited I imagine, as always, this will have to be s-p-e-l-l-e-d o-u-t for you. Easy credit encourages purchasing starting from the lowest price up to the highest as the sellers move up on the housing chain.

California has the largest econonmy of any state and a long coast line thus the property in California is expected to have the highest run up in prices. This does not even take into account the artificial increase as a result of the dot com explosion in Silicon Valley.

Nevada and Arizona have become retirement havens due to weather and a lack of state income tax.

Florida, also without state income tax and with a long coast line and a retirement haven for the lack of severe winters, should only be expected to lead the “bubbles”.

US housing had generally increased in value over the preceeding 30 years and the average consumer expected properties to increase indefinitely. The Clinton demand for easy credit fed the flames and primary residences were supplemented with vacation homes, investment properties, rentals and so on. Demand began to push supply and again easy money was available ( Good Ol’ Bill Clinton) to feed the supply side.

Wall Street met the demand for money from both domestic and foreign investors, again as commanded by the Clinton Administration, and the credit bubble fed the housing bubble which, with the proliferation of re-financing, fed the spending bubble. When the housing bubble popped with the increase in defaults, credit and spending burst as well.

Yet, the genesis is Bill Clinton and the expansion of CRA during his presidency.

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AmVet @ 6:27, The GSEs would never been nationalized had the Dems. allowed the Reps. to reign them in during their attempts in ‘03 & ‘05.

If you read my post @ 4:13, I never said the Reps. were innocent. What I said was that the Dems. have blood on their hands but continue to blame Bush solely for the crisis, which is disingenuous. Clinton BRAGGED in his autobiography in ‘02 that it was his adm. that started the goal of home ownership to low & moderate borrowers (unqualified borrowers), the subprime crisis.

TARP, the Toxic Assets Removal Program, to my knowledge, never removed a single toxic asset from any lender. They are still there & we are on the hook for trillions!!!! Just watch & see.

If you had bothered to read either of my sites I referenced above, you would have observed that the crisis was predicted in 1999 by the NYT, 2 yrs. before Bush was elected.

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Linda,

Perhaps the hubris of the Obama administration has riled the American people to dismiss the Left and the Democrats for good.

Then, in 2012 if the Republicans have not learned the folly of continuing this beat-down of the American people we will dismiss them as well. Eventually someone will understand they work for us and not the other way around

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Okay Linda, what’s your source for this?

Linda

September 27th, 2010
5:35 pm
Don’t forget @ 5:16, For decades, the fed. govt. has been telling us that we can’t drill for our own oil because we have to save the planet,

According to an interview I heard with Mathew Simmons the US has more than half of all the land based oil wells in the world. Mr. Simmons died recently but he was one of W’s top energy advisors.

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“Are you really that dense?”

No, he’s MUCH worse than that.

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Don’t forget this either.

http://www.nytimes.com/2008/02/09/business/09charts.html

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Don’t forget @ 8:04, Arguing with DOE releases prior to the Obama Adm. is so Democratic. The DOE wrote this article, not me. It was obvious that you quoted an article without citing it.
The fact is that we have our own natural resources that will take us into oblivion & that the Dems. want us to tax us into oblivion on energy.
Global warming is a hoax & the American people know it.

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Linda,
And just in case this wasn’t clear, I was citing YOUR article so I didn’t feel it necessary to repost the link.

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@road scholar: Actually, we’ve only had income taxes for about 100 years. before that, the govt raised revenues in other ways.
@CJ: actually – NO we should not look at ‘effective tax rates.’ if the ‘effective’ tax rates are very different from ‘actual’ tax rates…well, then it’s a terrible system. it means there are deductions and loopholes and all sorts of pains in the neck for paying taxes…and if you’re a business, that means that it costs you more and more to comply. WHAT A PAIN. other countries – DO NOT do that.

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Atl mom, I agree the corporate tax code is a mess but it’s the business’s that lobbied to have those loopholes.

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Prime examples: A. Busch bought by INBEV
Gulf Oil bought by BP
Steel companies bought by MITTAL
Shell becoming Royal Dutch Shell
Foreign banks buying American banks
MANY, MANY OTHERS

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Corps have the same rights as the individual now, so says the Supremes. Well with rights come responsibilities. These people (entities) have no sense of patriotism let alone nationalism any more. And after all this country has done to make their opportunities possible. Our Defense structure has been defending there actions and interests all over the world, for going on 2 centuries now, at the TAXPAYER expense in blood and treasure. Adam Smith the great grandfather of modern capitalism is no doubt turning over in his grave with disgust. In the Wealth of Nations he says “The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.” Now what does that really mean; remember under Eisenhower and through the 50s top tax rates were as high as 90%. Didn’t seem to stop rich people from getting richer, and this country from having one of its greatest periods of economic boom. If you remember we built the middle class of this country in those years. Maybe we could rebuild it if these greedy, ungrateful and unpatriotic @#$%&(*) would just pay their fair share. Considering the state of economic growth over the last decade you geniuses have done us no favors with your market knows all, tax breaks for all, trickle down, bogus economic theories. The curtain has been opened and it time to go back to reality in Kansas. It’s just your fair share. Stop whining. Wave a flag or something. Better yet thank a Vet for protecting you and your sorry ass company, and thank a taxpayer for putting up the cash to build an infrastructure so you could do business. You blood sucker. Then go hide your head in shame for not being a better citizen.

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I can’t believe that the hypocrite Obama can talk about maintaining “American Jobs) when his wife has commissioned a fashion designer in London (who happens to be the owner and is black – could that be the reason Mrs. Obama contacted her??) to design a cream coat for her. The cost will be over $1,000.
Do people not see the irony and hypocrisy behind this?? A non-American company, person likely chosen because of their race, and a COAT that will cost over $1,000 when so many others are hurting and Obama is telling people to tighten their belts??

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Screw Obama. He is stupid and a dullard. Its time we move onto our next President!! Everything ODumbACE touches turns into a hot boiling cauldron of doo doo.

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Don’t Forget;
You have forgotten, big time. Why do people come to America? Because we are NOT like the rest of the world; since you seem to keep hinting that Germany and China are better than the US, why are you still here?

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Kyle,

Can you name one time you disagreed with the Republican party line? It must be that oath again,

BTW, how is the GED study going?

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That’s a good one. A conservative columnist talking about the benefits of other countries’ tax codes. And not uttering the word “socialist” a single time. I’m proud of you, Kyle.

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The ship our jobs overseas argument has always baffled me. The Democrats economic policies toward business are similar to abusive and controlling parents who want their kids to endure the control forever so they can help pay the parents’ bills.

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“Keep singing the same old “Obama is the problem” song, right wing douchebags… Keep nuzzling that corporate c0ck… maybe something will trickle down for you.”

Looks like someone needs a big bottle of Midol for their cramps.

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Linda

September 27th, 2010
4:56 pm
“HDB @ 4:13, The fed. govt. passed a law in the ‘30 banning lending in “risky” neighborhoods. They printed & distributed the maps. It was called “redlining.”

What redlining actually was was persistent discrimination by banks against ethnic minority neighborhoods….particularly those where the banks had branches. Civil rights legislation passed in the 60s did not address this…so the CRA was passed to make the banks loan funds in the neighborhoods that they SERVED!! It did NOT relax lending standards!!

“In the ‘90, the CRA was strengthened under Clinton. We already had FHA financing that was designed for low & moderate income buyers & those without perfect credit.” Not accurate…..bank lending standards did not allow banks to lend money in minority neighborhoods….but private capital came into play here….the advent of subprime lending and real estate speculation!! The Bush Administration pushed the “Ownership Society” and sub prime lending took off even more!!

Ask someone who attempted to purchase a home during those moments rather than accepting the media reports….there’s more behind it than you’re being told!!

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PatriotWriter, notwithstanding what you wrote may or may not be true:

First and foremost the Ex-Im Bank essentially subsidizes the largest aircraft manufacturer in the world – Boeing. It also heavily subsidized Enron before they failed. However, the current congressional mandate for the Export-Import Bank of the United States is to supposedly focus on small business support.

Ex-Im’s largest financial commitments are in long-term loan guarantees, the category in which Boeing benefits most. In fiscal years 2007 and 2008 combined, Ex-Im issued $15.3 billion in long-term loan guarantees. Of that total, almost $10 billion, or 65 percent, went toward the purchase of commercial aircraft made by Boeing. The American taxpayers are on the line when business as well as well-connected foreign governments and nationals (such as a 1996 $120 million low-interest loan to the China National Nuclear Power Corporation (CNNP) don’t pay up.

In 2007, WFAA-TV in Dallas revealed that the Ex-Im Bank had given at least $243 million in fraudulent loans to companies doing business with Mexico, including giving loans to companies with no verifiable address and individuals who were known associates of the Sinaloa and Juarez drug trafficking cartels.

Once again, big business is against socialism, unless it benefits them.

Fried @1:25, very well said…

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“Really numerous times? Name one.”

Oil spill: If Republicans are smart …

… they’ll stop trying to attack President Obama by apologizing to the only figure less popular in this fiasco — BP — and start talking about the numerous problems with the oil spill response that have resulted from our feds-first, locals-take-a-number approach.

http://blogs.ajc.com/kyle-wingfield/2010/06/18/oil-spill-if-republicans-are-smart/

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“The Bush Administration pushed the “Ownership Society” and sub prime lending took off even more!!”

The Bush Administration never MADE anyone buy a home they couldn’t afford.

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@ atlmom, Obama has said he would be willing to lower corporate taxes if they eliminate some of the loopholes to cover the revenue loss. Sounds like a good idea to me.

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Would one of you “experts” explain to me how the CEO of my health care provider, United Health Care, made 113 Million dollars last year shuffling paper.
The man makes $30,958 TODAY and will not touch a Band Aid!

That`s who has your country

Real fact. I am currently laid off and my COBRA insurance for 2 people cost $1,150 a month.
Thanks…Mighty white of ya.

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Don’t Forget

Germany is very “company” friendly country. Merkel is a pro-capitalist leader.

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CAIR Bears

September 28th, 2010
10:06 am
JackLeg

HDB is a racist. You’ll quickly pick that up once you read the posts. HDB only talks about race…..because he’s a racist. HDB doesn’t believe in personal responsibility. It’s always “whiteys” fault.

Wrong…..but what you DON’T admit is that everything in this nation can be seen in a racial prism!! You’re seeing things through a Caucasian prism…and you think that everything seen through that prism is right!! NOT IN ALL CASES!!

I’m more pragmatic than anything else…..not only are the people who couldn’t afford homes at fault….but the lenders seeing a QUICK BUCK are also liable!!

Can’t lay that guilt trip on me…..just remember: what’s white ain’t always right!!

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It’s actually pretty simple, and taxes have nothing to do with it. The fact of the matter is that companies would prefer to pay an employee overseas $1.00 a day to manufacture their product, than to pay an American employee a decent wage along with benefits to make the same thing here. So I guess as a nation we need to ask ourselves what kind of country do we want to be. I’m sure if everyone bands together and is willing to accept a dramatic reduction in their quality of life, as well as income, we can once again have plenty of jobs for everyone. I have yet to hear anyone volunteer to move their family into a shed and start living on $1 to $2 dollars a day so that we can re-invigorate hiring in this country. Who wants to go first?

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I heard today the gab between the haves and have nots grew again last year, with the under 50K losing income while the over 100K gaining income. If income grew across the board it would be one thing, but this is pure greed to keep it all at the top. And guess who cries loudest about taxes going back to the level where America prospers.

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HDB @ 9:35, My info is not coming from media reports or being told. It’s coming from personal experience, being in the business on a daily basis for many decades.

We agree on redlining. You said Dems. showed that an unregulated market will surely fail. I brought up redlining to prove that the govt. has been regulating the housing market for over 65 yrs. & that govt. regulation can be devastating.

I did not say the CRA relaxed lending standards. What I said was that, in the ’70s, the CRA was strengthened AND lending standards for Fannie Mae & Freddie Mac were relaxed.

Banks have never specialized in mortgages. Savings & loans ceased specializing in mortgages in the ’80s. You said, “…private capital came into play here…” That’s incorrect. The problem was that, in the ’90’s, the Dems. began using Fannie Mae & Freddie Mac to make subprime loans to unqualified people.

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“Can’t lay that guilt trip on me…..just remember: what’s white ain’t always right!!”

Your words, not mine. Oh, and speaking of “Jacksonisms.”

My favorite from a dead racist in Atlanta: If it’s black vote black.

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“How much did your health care CEO make last year during hard times?”

It’s a private company, ma’am. A private company can determine whatever it wants to pay a CEO to be successful.

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skydog

Instead of attacking how much people make, why don’t you go out and work hard. I get so tired of hearing people attack other people because other people worked hard to make money.

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Don’t Forget;
Is there any logic to your reasoning? I am not the one saying how all the other countries are better than America, you are. So using standard 3rd grade logic, I would want to stay here and you complainers can move to a more leftist nation of your choice…

HDB;
I don’t blame the banks; I blame the idiots who took out mortgages knowing they would default. If a person does a budget they would know what they can afford. If you listened to the banks or someone else to make a decision for you; your and idiot. I bet you are a smoker, that is because they sell cigarettes so you must smoke them, right HDB?

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The “conventional wisdom” reflects the lack of economics training in this country. Anyone with a brain can see that
(a) if a company controls two divisions, “a” and “b,” and
(b) if you raise taxes on that portion of net income derived by “b,”

(c) the controlling company will shift expenses (e.g., “jobs”) from “a” to “b,” or
(d) the controlling company will shift revenues (e.g., “trade balance”) from “b” to “a.”

Taxes on foreign profits are a guaranteed lose/lose for the domestic tax authority, and for the sheep it governs.

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The last incandescent light bulb in America was made Fri. night. They will be illegal in 2012, thanks to the dimwits in DC, who are sending all these bulb jobs overseas. Bulbs containing mercury will be in our schools, hospitals, places of employment & homes within 2 years.

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A former union goon head of the SEIU is now under investigation for corruption including embezzlement. Typical Democrat goon. We’ll see if CNN reports it like Fox News is currently.

And speaking of Fox News, Obummer is running around whining about it yet again. This time he’s calling Fox News detrimental to the United States. Has anyone ever seen a SITTING president b!tch about a media outlet like this before? I sure don’t recall Bush whining about DNCNN, PMSBNC, The New York Slimes, The Washington ComPost, and all the other left wing liberal media outlets.

How pathetic. All the way around.

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The US Senate Committee on the Environment & Public Works will release a report later today that claims the EPA’s regulations on greenhouse gases is another Obama job-killing plan. It will cause the loss of 798,250 jobs in boiler plants. It will cause 18 plants to shut down that make 28 tons of cement, sending 9000 jobs to China.

MIT & others say CO2 regulation will cost $300 to $400 B per year. Good-bye, economy.

CO2 regulation will not reduce CO2.

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Dear forget @ 1:52, you err. “Imposition of taxes” undoubtedly unleashes an economic desire to diversify income sources toward those untaxed areas, but that is as far as we agree. Your argument, however, is outside the topic, as we were not discussing creating new markets; the argument is the effect on comparable but differently-taxed markets. The most rational argument you could suggest would be that all markets should be taxed equally by a taxing authority, to prevent inadvertent unanticipated consequences of the tax. Otherwise you are wrong about the consequences of a “foreign earnings” tax.

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Amvet,

Interesting you would cite the President of the Dallas Federal Reserve Bank.

The Federal Reserve, created in the same time frame as the income tax, is at the very heart of the problems in the US. The Founding Fathers warned of the dangers of a central bank and predicted the outcome over 200 years ago. Leaving the Gold Standard exacerbated the plunge.

In 1946 there was approximately $150 Billion in circulation and in 1971 after leaving the Gold Standard, there was $6 Trillion in circulation. The Founding Fathers spoke often of the danger of releasing the printing of currency to a central private bank.

According to Amvet:

“So they parrot the party-line with nonsense about “letting the free market police itself”, even though there has been a massive corporate crime wave stampeding through this country for many years. That the faithful won’t even acknowledge!”

The crime wave started to roll at Jekyll Island Georgia with the creation of the Federal Reserve in 1913. The founders even made a part of the legislation a stipulation that the Federal Reserve Banks would keep all profits and the American taxpayer would cover any losses.

The owners of the Fed and the politicians, both R’s and D’s, are neck deep in the mess and all of them should be lined up and executed for crimes against the US. I find most interesting that corporate execs have been brought before the courts for their “crimes” but all of the Liberal buds, like admitted crook Franklin Raines, continue to function in the Obama administration as if there were never a problem.

Stand up and admit AMVET, as you admonish others, that the Liberals in the Democrat Party are no less guilty of crimes than those you love to pillory!

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CAIR Bears

September 28th, 2010
12:36 pm

“Thanks for clarifying my point, HDB. You see everything in black and white.”

I can see a lot more than you through my prism; I can relate to a Latino being screwed by SB 1070 better than you…I can relate to an Asian working towards his/her degree better than you; I can relate to Native Americans being flooded out of their homes on the Red River better than you…….

You’re only focused on your existence…….

@ JB 17: “Has anyone ever seen a SITTING president b!tch about a media outlet like this before?”

Yep….listen to Richard Nixon talk about the Washington Post, Woodward and Bernstein…..Obama is TAME in comparison!!

JackLeg September 28th, 2010
1:05 pm

” don’t blame the banks; I blame the idiots who took out mortgages knowing they would default.”
Not in every case….many took out loans that they COULD afford….but the economic downturn during the Bush Years changed the entire paradigm! I know of 25,000 people who were LAID OFF immediately after 9/11….and they have YET to recover!! Are they to blame?? Those who SPECULATED on real estate were the ones whom you should be railing against!!

“If a person does a budget they would know what they can afford. If you listened to the banks or someone else to make a decision for you; your and idiot.” If the banks give you a “sweetheart deal” to entice your business….then screw you when the hard times hit…then the banks DO deserve a part of the blame!!

“I bet you are a smoker, that is because they sell cigarettes so you must smoke them, right HDB?” Nope — don’t smoke!!

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HDB,

Please tell us where SB1070 is at variance with existing federal law. I can help you, there is nothing in the bill that is not already codified in the Federal statutes. Keep sucking up that Liberal Lemonade with all the sugary content to turn your brain to mush.

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HDB regales us with this plum:

“Not in every case….many took out loans that they COULD afford….but the economic downturn during the Bush Years changed the entire paradigm! I know of 25,000 people who were LAID OFF immediately after 9/11….and they have YET to recover!! Are they to blame?? Those who SPECULATED on real estate were the ones whom you should be railing against!!”

1. “economic downturn during the Bush Years” – Do you mean Bush is responsible for the economy after 9/11/01?

2. “I know of 25,000 people who were LAID OFF immediately after 9/11″ – could you name them all please? How bogus can you be HDB?

3. “I can relate to Native Americans being flooded out of their homes on the Red River better than you” – so being the victim of a flood is racial?

How about the floods in the midwest and the lack of response by the Obama administration? Did you hear or see them on the news crying about how they were abandoned and the federal government is at fault? Uh no, you did not – but in New Orleans the problems were the government’s fault and in NO the residents DEMANDED to be compensated and the loyal Democrat pols in LA sent $250,000,000+. I guess you relate to the criers and whiners (like Obama).

HDB, like all Libs and Dems, loves to be the VICTIM!

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“I can see a lot more than you through my prism; I can relate to a Latino being screwed by SB 1070 better than you…I can relate to an Asian working towards his/her degree better than you; I can relate to Native Americans being flooded out of their homes on the Red River better than you…….

You’re only focused on your existence…….”

HDB = total racist and a loser.

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“I can relate to an Asian working towards his/her degree better than you”

Ah, nothing like a race baiting clown.

HDB, not only do you NOT know anything about me, you also suffer from what I call “black man delusion” where all you do is point fingers at white people all while showing off your utter hypocrisy.

Like I tell all racists, go sell stupid somewhere else.

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“Would the concern be as great if the illegals were Caucasian and came across the Canadian border?”

Yes race baiter, they would. If Canadians were crossing the border, killing people, not paying taxes and taking jobs away from people yes, we would be just as upset.

Oh by the way, the former Mexican president said Hispanics do the jobs that lazy black people won’t do. That should make you want to seal up the border quick.

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“I can relate to Native Americans being flooded out of their homes on the Red River better than you…….”

Uh, moron, I have Cherokee Indian blood in me. Try again, Farrakhan.

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But please do enjoy your parallel reality…

AmVet is a frequent guest.

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This blog started Mon. @ noon & it’s Tues. @ 7 PM. Kyle should have started another blog long ago. To protest, we are going to do two things. Half of us will watch the replay of the Falcons game tonight on the NFL network @ 9:15 & the other half of us will swap recipes & recommend restaurants.

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KYLE YOU AND YOUR KLAN FOLLOWERS ARE SO SUPER STUPID,THAT IT AMAZE ME THAT YOU FOOLS DID’NT SAY A WORD WHEN BUSH AND THE GOP BROKE AMERICA,I WISH NATHAN NO DEAL WINS THE GOV OFFICE,SO THAT HE CAN FOOL YOU REDNECKS AGAIN LIKE SONNY PERDONT DID,REMEMBER THE CONFEDERATE FLAG? SONNY SOLD YALL OUT,SAME THING COMING WITH DEAL,SO DEAL WITH IT!

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Linda,

You said, Why don`t I just get insurance on the way to the emergency room?

Why don`t I just not get COBRA and let YOU pay for my health care at the emergency room if needed?
That IS the system that we have in place now.

Your response may be, “let um die on the curb”.

I know some of you do, but your party does not have the guts to take that stand being so Godly and all.

So, here we are.

We can keep what we have and pay for EVERYONE at emergency room prices or….?

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You only lost by 10,000,000 votes last time Boog!

(7 zeros iz millions Boog.)

OK…back to the WWF

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“KYLE YOU AND YOUR KLAN FOLLOWERS ARE SO SUPER STUPID,”

When the next terror attack hits, the gal who wrote that above all-caps nonsense is sure to be a prime suspect.

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IM GLAD POTUS OBAMA HAS KEPT US SAFE IN AMERICA,UNLIKE BUSH WHEN THE TERRORIST STRUCK ON HIS WATCH!

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Instead of looking to raise tax revenues by taxing overseas income, the United States should eliminate the Corporate Income Tax and replace it with a revenue-neutral Value Added Tax. This tax reform would do away with the incentive for multi-nationals to use transfer pricing to park profits in lower-taxed countries, bring American capital home, and make the U.S. the strongest magnet for foreign capital. At the same time it would impose a “flat tariff” on imports, and make exports more competitive, since the VAT is subtracted from exports. For reference info on VAT, go to VAT-US.com

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