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BigRedChief
02-01-2010, 07:30 AM
Budget to be released today. Record deficit, but how is this also possible?

If Congress passed the budget, the deficit in 2011 would reach 8.3% of the U.S. gross domestic product -- down from a high this year of 10.6%. By 2014, it would drop to 3.9%.

http://www.foxnews.com/politics/2010/01/31/obama-offers-budget-deficits-far-number-crunchers/

petegz28
02-01-2010, 07:41 AM
Go read...

http://www.chiefsplanet.com/BB/showthread.php?t=222725

BigRedChief
02-01-2010, 07:46 AM
The budget proposes new tax breaks and incentives (http://money.cnn.com/2010/01/28/smallbusiness/obama_jobs_plan/index.htm?postversion=2010012914) for small businesses that hire new employees or boost wages, which would cost $30 billion. There would also be tax breaks for small businesses that make new investments.

The budget includes a one-year extension of Making Work Pay tax breaks, delivered as a part of last year's stimulus package. This credit resulted in slightly higher paychecks for 110 million families, according to the White House.

It would make permanent tax cuts passed during the Bush administration for all except high-income households.
Other spending hikes will include: $17 billion more for Pell Grants to help students pay for college and $6 billion for "clean energy technologies."

The administration would also spend $734 million to install 1,000 new full body scanners at airports.
At the end of the day, Obama's plan is merely a giant set of suggestions for Congress, since lawmakers are in charge of cutting checks.
http://money.cnn.com/2010/02/01/news/economy/Obama_budget/index.htm?hpt=T2

petegz28
02-01-2010, 07:48 AM
The budget proposes new tax breaks and incentives (http://money.cnn.com/2010/01/28/smallbusiness/obama_jobs_plan/index.htm?postversion=2010012914) for small businesses that hire new employees or boost wages, which would cost $30 billion. There would also be tax breaks for small businesses that make new investments.

The budget includes a one-year extension of Making Work Pay tax breaks, delivered as a part of last year's stimulus package. This credit resulted in slightly higher paychecks for 110 million families, according to the White House.

It would make permanent tax cuts passed during the Bush administration for all except high-income households.
Other spending hikes will include: $17 billion more for Pell Grants to help students pay for college and $6 billion for "clean energy technologies."

The administration would also spend $734 million to install 1,000 new full body scanners at airports.
At the end of the day, Obama's plan is merely a giant set of suggestions for Congress, since lawmakers are in charge of cutting checks.
http://money.cnn.com/2010/02/01/news/economy/Obama_budget/index.htm?hpt=T2

The budget being proposed today will let the Bush tax cuts expire on those making over $250k

BigRedChief
02-01-2010, 07:50 AM
The budget being proposed today will let the Bush tax cuts expire on those making over $250kSounds good to me. They were put in the law to expire. Let em expire. If your household is making more than $250,000 in this economy you don't need financial help from the taxpayer to pay your bills.

petegz28
02-01-2010, 07:51 AM
Sounds good to me. They were put in the law to expire. Let em expire. If your household is making more than $250,000 in this economy you don't need financial help from the taxpayer to pay your bills.

Taking money out of the pockets of consumers won't do much to help things.

BigRedChief
02-01-2010, 07:57 AM
Taking money out of the pockets of consumers won't do much to help things.I agree with the principle but there are several mitigating factors to be considered.

This takes effect in 2011. If the economy is still in the toilet we are in bigger trouble than tax cuts for the well to do.

Someone has to pay more. Who's it going to be? the ones that profit the most from our system sounds like a good choice to me.

petegz28
02-01-2010, 08:02 AM
I agree with the principle but there are several mitigating factors to be considered.

This takes effect in 2011. If the economy is still in the toilet we are in bigger trouble than tax cuts for the well to do.

Someone has to pay more. Who's it going to be? the ones that profit the most from our system sounds like a good choice to me.

The government simply has to quit spending so much fucking money. Put money back in everyone's pocket, quit spening like they have a money tree and things would get better quicker than you think.

BigRedChief
02-01-2010, 08:20 AM
The government simply has to quit spending so much ****ing money. Put money back in everyone's pocket, quit spening like they have a money tree and things would get better quicker than you think.On part of this we can agree. Across the board tax cuts means tax cuts for the rich and thats not okay with me.

But where the majority of savings and future costs are coming from is entitlments. What politician/party is going to take on those?

petegz28
02-01-2010, 08:23 AM
On part of this we can agree. Across the board tax cuts means tax cuts for the rich and thats not okay with me.

But where the majority of savings and future costs are coming from is entitlments. What politician/party is going to take on those?

Well, I hate to break the news to you, but the rich are the ones that spend\invest the money that most of us depend on in the way of jobs. I agree, entitlement spending is out of control. PErsonally I would rather the tax hikes for the "rich" at the State level. Then they can adjust for what is rich and what isn't. $250k isn't much in CA but it is in KS. Plus it would help reduce the need for the Fed Gov to give aid to the States.

BigRedChief
02-01-2010, 08:26 AM
Well, I hate to break the news to you, but the rich are the ones that spend\invest the money that most of us depend on in the way of jobs. I agree, entitlement spending is out of control.Sorry but I'm not buying the trickle down economic theory. Give the money to the rich, they know what to do with it souds like a bad economic idea for the middle class.

petegz28
02-01-2010, 08:27 AM
Sorry but I'm not buying the trickle down economic theory. Give the money to the rich, they know what to do with it souds like a bad economic idea for the middle class.

No one said anything about "giving" money to the rich. You are wanting to "take". It is their money. They earned it. You act like this is some sort of handout.

petegz28
02-01-2010, 08:28 AM
Personally, BRC, if you want to tax the rich then it would be done better via things such as a luxury tax. You want to drive a $50k car, it's going to cost you more in taxes. You want to own a $1 mil home, same thing.

BigRedChief
02-01-2010, 08:30 AM
No one said anything about "giving" money to the rich. You are wanting to "take". It is their money. They earned it. You act like this is some sort of handout.No one is "taking" any of their money. We "gave" them money. We are just not going to "give" them any more money.

petegz28
02-01-2010, 08:32 AM
No one is "taking" any of their money. We "gave" them money. We are just not going to "give" them any more money.

Who is "we" and how did "we" give them the money they earned? You are hitting the crack pipe early today. And to help you out, taxes are the taking of money. I don't get where you get this "we gave them the money" shit?

chris
02-01-2010, 08:40 AM
No one is "taking" any of their money. We "gave" them money. We are just not going to "give" them any more money.


This thinking is comical.

What did you or anyone else give to me?

I work 80-100 hours a week; on vacation this week, yet sitting in my hotel room until noon to skype with the office and customers.

Yet, people want more handouts and reach into my checkbook to TAKE.

So you need to look at what you can do to make more money before you look at me to improve your quality of life.

BigRedChief
02-01-2010, 08:52 AM
Who is "we" and how did "we" give them the money they earned? You are hitting the crack pipe early today. And to help you out, taxes are the taking of money. I don't get where you get this "we gave them the money" shit?The taxpayer = "we". "We" have the tax money. Already decide by law and paid into the treasury. George W. decided to "give" the rich some money back that we already have in the treasury.

petegz28
02-01-2010, 08:52 AM
In his speech about the budget this mornig, the first thing Obama did was blame Bush. Then went on to say we can't treat the tax payer money like monopoly money. The guy is toast. He is just re-hashing everything cause he has void of substance.

BigRedChief
02-01-2010, 08:53 AM
So you need to look at what you can do to make more money before you look at me to improve your quality of life.hey n00b, my quality of life is great. Do some research before throwing out the barbs.

BigRedChief
02-01-2010, 08:54 AM
In his speech about the budget this mornig, the first thing Obama did was blame Bush. Then went on to say we can't treat the tax payer money like monopoly money. The guy is toast. He is just re-hashing everything cause he has void of substance.
jeeezzz every President blames his predessor. Name me one that didn't? It's annoying as hell but it is what it is.

The Mad Crapper
02-01-2010, 09:02 AM
Thank God for that SPENDING FREEZE on discretionary spending or else we would really be in fiscal trouble.

mlyonsd
02-01-2010, 09:04 AM
The taxpayer = "we". "We" have the tax money. Already decide by law and paid into the treasury. George W. decided to "give" the rich some money back that we already have in the treasury.:spock:

petegz28
02-01-2010, 09:12 AM
The taxpayer = "we". "We" have the tax money. Already decide by law and paid into the treasury. George W. decided to "give" the rich some money back that we already have in the treasury.

Um, dude, what are you smoking today?

1. Taxpayer includes rich people who pay taxes.
2. No money was "given" to anyone. Tax breaks were passed. That is not GIVING money, you tool.
3. EVERYONE who paid taxes received a rebate check. That is the closest thing to "giving" money to anyone the Fed Gov did.


Youre credibility on this issue is at epic levels of fail.

petegz28
02-01-2010, 09:13 AM
jeeezzz every President blames his predessor. Name me one that didn't? It's annoying as hell but it is what it is.

Not every 5 minutes. :spock:

BigRedChief
02-01-2010, 09:16 AM
Um, dude, what are you smoking today?

1. Taxpayer includes rich people who pay taxes.
2. No money was "given" to anyone. Tax breaks were passed. That is not GIVING money, you tool.
3. EVERYONE who paid taxes received a rebate check. That is the closest thing to "giving" money to anyone the Fed Gov did.


Youre credibility on this issue is at epic levels of fail.Your opinion. Your trying to refrence this as a Republican talking point and I'm just using plain english in the sense the word "gave" is normally used.

If I have 1000 you "gave" me for taxes in my pocket and I "give" you $150 of that back. I "gave" you money.

petegz28
02-01-2010, 09:22 AM
Your opinion. Your trying to refrence this as a Republican talking point and I'm just using plain english in the sense the word "gave" is normally used.

If I have 1000 you "gave" me for taxes in my pocket and I "give" you $150 of that back. I "gave" you money.

No, BRC, that is not my opinion, that is a fact. Tax cuts are not giving back money. That means they had less taken from them in the future. EVERYONE received a rebate check. Not just the wealthy. JFC, you are being an idiot.

Here is plain english for you:

1. Taxes=money taken from the person who earned money. Thus the term "taxpayer".

2. Tax cuts does not = "giving money back". It means they take less.

3. Rebate checks went out to EVERYONE. Including thos who net-net paid 0 in Fed Taxes.

SO STFU and read a book already.

KC Dan
02-01-2010, 09:24 AM
If I have 1000 you "gave" me for taxes in my pocket and I "give" you $150 of that back in the form of a rebate. I "gave" you YOUR money back.
fyp to reality

chris
02-01-2010, 09:25 AM
hey n00b, my quality of life is great. Do some research before throwing out the barbs.


I'm in a cranky mood this morning, so I won't be nice as usual when I see such a stupid post .

1) you idiot, where do you think the taxes come from? with your simple mindset, you expect me to pay more to keep you fat, dumb, and happy.
2) you have been on this site one month longer than me, nOOb. Sometimes quality is better than mass ramblings.

BigRedChief
02-01-2010, 09:31 AM
I'm in a cranky mood this morning, so I won't be nice as usual when I see such a stupid post .

1) you idiot, where do you think the taxes come from? with your simple mindset, you expect me to pay more to keep you fat, dumb, and happy.
2) you have been on this site one month longer than me, nOOb. Sometimes quality is better than mass ramblings.ahhhh my feelings are hurt...

chris
02-01-2010, 09:36 AM
ahhhh my feelings are hurt...

You flatter yourself; your pompous existence is the least of my concerns.

HOWEVER, the $1.6T deficit matters. Because guess where the Pols are going to go for more $$$$ to pay for all their handouts?

yea for you and bummer for me.

BigRedChief
02-01-2010, 09:39 AM
You flatter yourself; your pompous existence is the least of my concerns.
Pompus? Me?
http://kadmusarts.com/blog/wp-content/uploads/2007/05/PompousMoi.jpg

My point still stands. I'm doing good in my life currently and compared to some who are really struggling, great. So, I don't need your help to improve the quality of my life. But, you going back into the hole you have been hiding at would improve the quality of my life, if you are so inclinded.