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View Full Version : Obama Obama Calls People Earning $250,000 a Year ‘Jet Owners’.


petegz28
06-29-2011, 04:58 PM
http://blogs.wsj.com/wealth/2011/06/29/obama-calls-people-earning-250000-a-year-jet-owners/


:facepalm:

petegz28
06-29-2011, 04:59 PM
FLASHBACK: AP: Stimulus includes tax break to promote private jet sales


http://washingtonexaminer.com/blogs/beltway-confidential/2011/06/flashback-ap-stimulus-includes-tax-break-promote-private-jet-sale


LMAO

CoMoChief
06-29-2011, 07:41 PM
He's a fuckin clown.

I can't think of a President (maybe Carter) that's been more of a failure than Obama. The guy again and again clearly shows America on why he shouldn't have ever been voted into office.

orange
06-29-2011, 07:58 PM
http://blogs.wsj.com/wealth/2011/06/29/obama-calls-people-earning-250000-a-year-jet-owners/


The author of your headline is a liar.

ADDITIONAL NOTE: While Obama was referring in part to the Democratic effort to close a tax loophole for jet owners, known as “accelerate depreciation,” the loophole would raise only $3 billion over the next decade. The larger point is that his “jet owner” comment blurs the lines between super-rich jet owners and the far lesser rich, whose whose taxes would go up under the Democrats plan.

"... effort to close a tax loophole for jet owners ..."

In other words, Obama called jet owners 'Jet Owners.'

:facepalm:

mlyonsd
06-29-2011, 08:04 PM
Maybe they shouldn't be going after the owners. Instead those that use them, including renters.....like members of Congress.

HonestChieffan
06-29-2011, 08:11 PM
The left is in meltdown. Little midget Robert Reich's column in the star today tops them all.....cut taxes on the middle class and raise on the rich to stimulate jobs.......ok. Antifreeze these people.

Obama sacks private plane owners what 6 months after he pushed breaks through to stimulate buying jets.

They are in 100% random mode. Obama ignoring all his military folks and pulling politics to the front on decisions. The Oil reserve release that drove prices down for a week....they are in meltdown.

mlyonsd
06-29-2011, 08:17 PM
The current dem stance on tax increases is nothing but a political ploy to save face with their base. Nothing. I repeat nothing. The taxes they want will pay down Obama's one year increas in spending in 2000 years.

That's change you can believe in.

Saul Good
06-29-2011, 08:18 PM
Sweet. I'm closer to having my own jet than I thought.

FD
06-29-2011, 08:25 PM
He was talking about a specific tax break for private jets. Whats wrong with calling people who own private jets "jet owners"?

petegz28
06-29-2011, 08:38 PM
He was talking about a specific tax break for private jets. Whats wrong with calling people who own private jets "jet owners"?

Accelerated Decpreciation? WOW! That's a real money saver there.

petegz28
06-29-2011, 08:39 PM
Let's not all play stupid, we know he used the phrase "Jet Owners" for a fucking reason. Class Warfare.

penchief
06-29-2011, 08:51 PM
He's a ****in clown.

I can't think of a President (maybe Carter) that's been more of a failure than Obama. The guy again and again clearly shows America on why he shouldn't have ever been voted into office.

Your memory is awful short. Nobody ****ed this country up worse than Obama's predecessor. That arrogant jackass was a ****in clown and a corporate lackey. The economic meltdown caused by his Wall Street buddies and the Iraq fiasco have set this country back more than anything any other president has ever done.

If anything is ruining this country it is the corporate feeding frenzy that has been enabled by the republican party for over thirty years now. The Cheneyburton Administration doubled down on that ideology to the point where we may be beyond the point of no return.

petegz28
06-29-2011, 09:00 PM
Your memory is awful short. Nobody ****ed this country up worse than Obama's predecessor. That arrogant jackass was a ****in clown and a corporate lackey. The economic meltdown caused by his Wall Street buddies and the Iraq fiasco have set this country back more than anything any other president has ever done.

If anything is ruining this country it is the corporate feeding frenzy that has been enabled by the republican party for over thirty years now. The Cheneyburton Administration doubled down on that ideology to the point where we may be beyond the point of no return.

Ah, 3 years later and we are still blaming Bush for the higher unemployment, government spending and lack of budgets under Obama and the Dems.

I've so missed you, pen

penchief
06-29-2011, 09:03 PM
Ah, 3 years later and we are still blaming Bush for the higher unemployment, government spending and lack of budgets under Obama and the Dems.

I've so missed you, pen

The economy is not nearly the clusterfuck it was when Bush handed it over.

Besides, I'm not blaming Bush for any disappointment I might have in Obama. I'm simply pointing out the obvious lack of awareness by anyone who can't recognize how much of a disaster the Bush presidency was for this country. In every way imaginable it was a proactive ****ing like this country has never seen.

Brock
06-29-2011, 09:04 PM
The economy is not as bad as it was when Bush turned it over.

LOL.

penchief
06-29-2011, 09:05 PM
LOL.

Seriously? We were on the brink of collapse after Bush's butt buddies raped this country.

Brock
06-29-2011, 09:06 PM
Seriously? We were on the brink of collapse after Bush's butt buddies raped this country.

We ARE on the brink of collapse, you numbskull.

petegz28
06-29-2011, 09:07 PM
The economy is not as bad as it was when Bush turned it over.

Besides, I'm not blaming Bush for any disappointment I might have in Obama. I'm simply pointing out the obvious lack of awareness by anyone who can't recognize how much of a disaster the Bush presidency was for this country. In every way imaginable. It was a proactive ****ing like this country has never seen.

No, it isn't as bad as when Bush turned it over. It's worse. Unemployment is higher, foreclosures are at a record high, the deficit is at record levels, we have yet to see the Dems produce a budget in 2 years, we are in a 3rd war, Unions are gifted an auto maker while the bond holders got told to go **** themselves and this guy want s to scream about a few people who own jets??

Bush was bad, Obama is worse.

HonestChieffan
06-29-2011, 09:10 PM
Seriously? We were on the brink of collapse after Bush's butt buddies raped this country.


We are eleventybillion more screwed now. Where you been?

penchief
06-29-2011, 09:13 PM
We ARE on the brink of collapse, you numbskull.

It is still precarious, no doubt. And threats still exist. But to say that there has been no signs of recovery is to cater to the fearmongering from the right.

The funny thing is that the right-wing's remedy has been applied for the last thirty years. And it has produced the exact opposite results that those on the right claim. Deregulation, corporate tax cuts, and tax cuts for the wealthy have yielded the results that you want to blame on Obama. Keep catering to the corporate establishment and the powerful few in this country and watch it continue to get worse for the rest of us.

It's no coincidence that wealth and power is being concentrated into the hands of fewer and fewer while the middle class is being disempowered. You can thank pro-corporate republican policies.

Brock
06-29-2011, 09:15 PM
It is still precarious, no doubt. And threats still exist. But to say that there has been no signs of recovery is to cater to the fearmongering from the right.

The funny thing is that the right-wing's remedy has been applied for the last thirty years. And it has produced the exact opposite results that those on the right claim. Deregulation, corporate tax cuts, and tax cuts for the wealthy have yielded the results that you want to blame on Obama. Keep catering to the corporate establishment and the powerful few in this country and watch it continue to get worse for the rest of us.

:facepalm: You don't watch the news much, do you?

SNR
06-29-2011, 09:15 PM
Your memory is awful short. Nobody ****ed this country up worse than Obama's predecessor. That arrogant jackass was a ****in clown and a corporate lackey. The economic meltdown caused by his Wall Street buddies and the Iraq fiasco have set this country back more than anything any other president has ever done.

If anything is ruining this country it is the corporate feeding frenzy that has been enabled by the republican party for over thirty years now. The Cheneyburton Administration doubled down on that ideology to the point where we may be beyond the point of no return.Would you blame voters that vote Republican in this election then? If a clown like Obama promises hope and change and then fails to deliver on anything closely related to hope and/or change in four years, wouldn't it be safe to call him a fraud?

So it's a choice between Fraud #2 or the fraud associated with Fraud #1 who might not be anything like Fraud #1 at all. Let's call him/her Fraud X. I think Fraud X is the clear decision, don't you?

Brock
06-29-2011, 09:16 PM
"Previous administration" /penchief

penchief
06-29-2011, 09:22 PM
"Previous administration" /penchief

Calling it like it is. It's disingenuous to ignore the impact of policies that hurt this country as badly as Bush policies did. Iraq alone set this country back more than Obama's domestic spending ever could.

penchief
06-29-2011, 09:26 PM
Would you blame voters that vote Republican in this election then? If a clown like Obama promises hope and change and then fails to deliver on anything closely related to hope and/or change in four years, wouldn't it be safe to call him a fraud?

So it's a choice between Fraud #2 or the fraud associated with Fraud #1 who might not be anything like Fraud #1 at all. Let's call him/her Fraud X. I think Fraud X is the clear decision, don't you?

I got into this debate not to defend Obama. But to point out how ridiculous it is to say that Obama is worse than even Bush. Bush will go down in history as maybe the worst president this country has ever seen. Although Iraq will be his legacy, he deserves equal billing for his work with the economy. It collapsed on his watch due to an unregulated environment that his administration aggressively advocated.

FD
06-29-2011, 09:27 PM
Calling it like it is. It's disingenuous to ignore the impact of policies that hurt this country as badly as Bush policies did. Iraq alone set this country back more than Obama's domestic spending ever could.

Are you blaming Bush's policies for the current recession? What Bush policies, specifically, created the housing bubble and bust and the subsequent financial crisis?

notorious
06-29-2011, 09:29 PM
Name one major area that has improved or even maintained since Obama and the Democratic Congress have been in power.


. . .

penchief
06-29-2011, 09:31 PM
No, it isn't as bad as when Bush turned it over. It's worse. Unemployment is higher, foreclosures are at a record high, the deficit is at record levels, we have yet to see the Dems produce a budget in 2 years, we are in a 3rd war, Unions are gifted an auto maker while the bond holders got told to go **** themselves and this guy want s to scream about a few people who own jets??

Bush was bad, Obama is worse.

In your dreams. Bush went out of his way to **** this country for the benefit of his corporate butt buddies. Cheneyburton was not a people's government. It was a bought-and-paid-for puppet regime for the benefit of corporate greed. Think about what we could have done for this country's infrastructure with all the money wasted on that corportate boondoggle in Iraq.

notorious
06-29-2011, 09:33 PM
In your dreams. Bush went out of his way to **** this country for the benefit of his corporate butt buddies. Cheneyburton was not a people's government. It was a bought-and-paid-for puppet regime for the benefit of corporate greed. Think about what we could have done for this country's infrastructure with all the money wasted on that corportate boondoggle in Iraq.

Agreed.


Bush sucked balls.


We are not claiming otherwise.

WV
06-29-2011, 09:38 PM
Anyone else tired of hearing Bush right after every slam against Obama. Fine....scream it from the roof tops that Bush was a disaster, but what exactly does his horrible presidency have to do with the almighty Barry's reign of awfulness???

If you want to hold Bush's feet to the fire you'd better save a huge space for BO.

penchief
06-29-2011, 09:40 PM
Name one major area that has improved or even maintained since Obama and the Democratic Congress have been in power.


. . .

http://www.businessweek.com/news/2011-03-28/gold-falls-for-third-session-on-signs-of-improving-u-s-economy.html

http://asunews.asu.edu/20101201_business_economicforecastluncheon

petegz28
06-29-2011, 09:41 PM
In your dreams. Bush went out of his way to **** this country for the benefit of his corporate butt buddies. Cheneyburton was not a people's government. It was a bought-and-paid-for puppet regime for the benefit of corporate greed. Think about what we could have done for this country's infrastructure with all the money wasted on that corportate boondoggle in Iraq.

All I know is the economy was fine until the Dems took over Congress in the 06 election. Coincidence? Maybe.

FD
06-29-2011, 09:42 PM
All I know is the economy was fine until the Dems took over Congress in the 06 election. Coincidence? Maybe.

What legislation did the Democratic congress pass, specifically, that caused the housing bubble and bust and subsequent financial crisis?

BillSelfsTrophycase
06-29-2011, 09:43 PM
Your memory is awful short. Nobody ****ed this country up worse than Obama's predecessor. That arrogant jackass was a ****in clown and a corporate lackey. The economic meltdown caused by his Wall Street buddies and the Iraq fiasco have set this country back more than anything any other president has ever done.

If anything is ruining this country it is the corporate feeding frenzy that has been enabled by the republican party for over thirty years now. The Cheneyburton Administration doubled down on that ideology to the point where we may be beyond the point of no return.


30 years from now will you still be blaming Bush?

petegz28
06-29-2011, 09:44 PM
http://www.businessweek.com/news/2011-03-28/gold-falls-for-third-session-on-signs-of-improving-u-s-economy.html

Uh... Gold is trading at $1514.30 right now.Almost $100 higher than your article touted.

Besides the fact the argument the article makes is bunk, to use their logic does that mean since gold is higher now the economy is heading back in the crapper?

KILLER_CLOWN
06-29-2011, 09:44 PM
At least my president isn't as bad as yours, Lolzagatorz!

petegz28
06-29-2011, 09:46 PM
What legislation did the Democratic congress pass, specifically, that caused the housing bubble and bust and subsequent financial crisis?

Turn your sarcasm meter on. I was merely pointing out that the Dems were in charge of Congress the last 2 years of the Bush Presidency and are not to be without blame.

Stinger
06-29-2011, 09:50 PM
Name one major area that has improved or even maintained since Obama and the Democratic Congress have been in power.


. . .

Government and union jobs? :shrug:

FD
06-29-2011, 09:53 PM
Turn your sarcasm meter on. I was merely pointing out that the Dems were in charge of Congress the last 2 years of the Bush Presidency and are not to be without blame.

OK, so nothing.

Penchief, I'm still waiting on your answer to the opposite question.

Brock
06-29-2011, 09:56 PM
Calling it like it is. It's disingenuous to ignore the impact of policies that hurt this country as badly as Bush policies did. Iraq alone set this country back more than Obama's domestic spending ever could.

Obama is Bush part 2. Talk about being disingenuous.

penchief
06-29-2011, 09:56 PM
At least my president isn't as bad as yours, Lolzagatorz!

Exactly why people who don't have the room to make bold claims shouldn't make bold claims.

If we ever want to have an honest economy again we have to escape the death grip of the fake Wall Street economy and Corporate lobbying. Until then, our economy will always be subject to the whims of those who manipulate the market and those powerful enough to corrupt the government.

stevieray
06-29-2011, 10:02 PM
[QUOTE=penchief;7722426]Exactly why people who don't have the room to make bold claims shouldn't make bold claims.

If we ever want to have an honest economy again we have to escape the death grip of the fake Wall Street economy and Corporate lobbying. Until then, our economy will always be subject to the whims of those who manipulate the market and those powerful enough to corrupt the government.[/QUOTE/]

nice edit..lol

...like Obama and GE.

penchief
06-29-2011, 10:02 PM
Obama is Bush part 2. Talk about being disingenuous.

Easy to say because it sounds good. But not exactly accurate. Has Obama caved to corporate interests? Absolutely. I am immensely disappointed in that aspect of his presidency.

Does that make him the worst president in history? Not even close. His predecessor wins that award hands down.

If there is one thing we can do to turn this country around it is to reverse the trend that has led to corporate control over our country and our society.

penchief
06-29-2011, 10:15 PM
30 years from now will you still be blaming Bush?

I'll still blame the policies that dismantled our country as we knew it. The handing over of the people's America to commercial interests. We can no longer defend ourselves against the will of the corporate establishment. And for that I blame the entire Reaganite ideology of deregulation, corporate tax cuts, and Trickle Down class warfare. The Bush Administration doubled down on that ideology.

My hope is that we can turn it around and restore the people's government to the people. And I hope someday that good public policy will once again trump the politics of greed.

stevieray
06-29-2011, 10:18 PM
I'll still blame the policies that dismantled our country as we knew it. The handing over of the people's America to commercial interests. We can no longer defend ourselves against the will of the corporate establishment. And for that I blame the entire Reaganite ideology of deregulation, corporate tax cuts, and Trickle Down class warfare. The Bush Administration doubled down on that ideology.

My hope is that we can turn it around and restore the people's government to the people. And I hope someday that good public policy will once again trump the politics of greed.


..the boomer generation's lack of integrity and moral decay dismantled our country.

petegz28
06-29-2011, 10:19 PM
I'll still blame the policies that dismantled our country as we knew it. The handing over of the people's America to commercial interests. We can no longer defend ourselves against the will of the corporate establishment. And for that I blame the entire Reaganite ideology of deregulation, corporate tax cuts, and Trickle Down class warfare. The Bush Administration doubled down on that ideology.

My hope is that we can turn it around and restore the people's government to the people. And I hope someday that good public policy will once again trump the politics of greed.

We have one of the highest corporate tax rates in the world. WTF are you blabbing about?

Brock
06-29-2011, 10:20 PM
We have one of the highest corporate tax rates in the world. WTF are you blabbing about?

ROFL This guy never fails to entertain with his babblings.

petegz28
06-29-2011, 10:22 PM
Yes, yes, let's raise corporate taxes so more companies go overseas. That'll show em'!!!

dirk digler
06-29-2011, 10:23 PM
..the boomer generation's lack of integrity and moral decay dismantled our country.

You're a boomer so it is all your fault

stevieray
06-29-2011, 10:29 PM
You're a boomer so it is all your fault

at the tail end.

penchief
06-29-2011, 10:32 PM
Yes, yes, let's raise corporate taxes so more companies go overseas. That'll show em'!!!

Cut em' and they go overseas. What's the difference? That's exactly what has happened for three decades. You want to keep feeding that bottomless pit? The proof is in the pudding. You may not like what I have to say but something has to change about the the policies that the republican right has advocated. They have hurt this country. Take a look around. If you don't think that the trend of the past thirty years is calculated you just aren't paying attention. Keep catering to the same commercial interests that tell you what they want and see if you get different results. You won't.

Should we also let the same people **** up our air and water because they're holding a gun to our head? Somewhere along the line there are people and groups who want to make an honest buck. And we'll have to turn to them to rebuild a solid economic foundation. Things will never improve as long as we allow ourselves to be blackmailed by those who only want to manipulate the economy for their own greedy ends.

KILLER_CLOWN
06-29-2011, 10:32 PM
We have one of the highest corporate tax rates in the world. WTF are you blabbing about?

This reminds me of a mailman i bumped into a few months before the Obamanator was elected. He told me how great it was that Obama was going to tax the oil industry heavily and then i reminded him well i guess the costs will get passed onto us. He turned tail and didn't utter another word.

dirk digler
06-29-2011, 10:35 PM
at the tail end.

So many ways to go with this.... :D

petegz28
06-29-2011, 10:35 PM
Cut em' and they go overseas. What's the difference? Take a look around. If you don't think what has happened over the past thirty years is calculated you just aren't paying attention. Keep catering to the same people who tell you what they want and see if you get any different results.

Should we also let the same people **** up our air and water because they're holding a gun to our head? Somewhere along the line there are people and groups who want to make an honest buck. And we'll have to turn to them to rebuild a solid economic foundation. Things will never improve as long as we allow ourselves to be blackmailed by those who only want to manipulate the economy for their own greedy ends.

Now they are fucking up our air and water??? The Democrats sure seem to have no problems taking donations from these earth haters.

KILLER_CLOWN
06-29-2011, 10:37 PM
Now they are ****ing up our air and water??? The Democrats sure seem to have no problems taking donations from these earth haters.

That because they make us feeeeeeeeeeeel better giving them money for our sins.

Bwana
06-29-2011, 10:37 PM
Barry needs to get the fuck out.

penchief
06-29-2011, 10:43 PM
Now they are ****ing up our air and water??? The Democrats sure seem to have no problems taking donations from these earth haters.

That shit is happening in my back yard so you shouldn't try to belittle things which you know nothing about. The gas drilling going on in the mountains of PA is causing a lot of problems. Can they do it safely and cleanly. Maybe. Do they do it safely and cleanly. **** no. They don't give a shit about our beautiful country up here. Or our drinking water. If they did, Cheney and his ****ing cronies wouldn't have passed a bill that exempted hydrofracking from the Clean Water Act.

That's just one example. Our history is rife with examples of commercial interests trumping the environment and human safety. And yes, Dick Cheney and his ilk are leading the charge when it comes to agents of greed posing as public servants who **** us over in that regard.

chiefzilla1501
06-29-2011, 11:23 PM
These are terrific plans.

Now those great jobs manufacturing and servicing those planes can be shipped offshore. We have too many jobs, so this is a great thing!

And now oil companies can charge even more at the pump, which is great, because businesses don't at all rely on gas or oil. This tax won't affect anyone.

While we're at it, let's increase taxes on accountant wages. Ironic and another potential revenue stream.

Bewbies
06-30-2011, 02:05 AM
The economy is not nearly the cluster**** it was when Bush handed it over.


Holy shee-it. ROFL

Bewbies
06-30-2011, 02:07 AM
It is still precarious, no doubt. And threats still exist. But to say that there has been no signs of recovery is to cater to the fearmongering from the right.

The funny thing is that the right-wing's remedy has been applied for the last thirty years. And it has produced the exact opposite results that those on the right claim. Deregulation, corporate tax cuts, and tax cuts for the wealthy have yielded the results that you want to blame on Obama. Keep catering to the corporate establishment and the powerful few in this country and watch it continue to get worse for the rest of us.

It's no coincidence that wealth and power is being concentrated into the hands of fewer and fewer while the middle class is being disempowered. You can thank pro-corporate republican policies.

You just described socialism to a T, but call it Capitalism. Doofus.

Bewbies
06-30-2011, 02:12 AM
What legislation did the Democratic congress pass, specifically, that caused the housing bubble and bust and subsequent financial crisis?

Twas long ago, done under the name "affordable housing." It's been spun away, but the evidence is there for people willing to look. The (few) Republican attempts to fix it have also been buried...

It's sad that so many have worked to change the "facts" about why this happened, hoping to deflect blame elsewhere, and condemning our future to repeat this stupid mistake again...

notorious
06-30-2011, 06:41 AM
http://www.businessweek.com/news/2011-03-28/gold-falls-for-third-session-on-signs-of-improving-u-s-economy.html

http://asunews.asu.edu/20101201_business_economicforecastluncheon

ROFL

I am assuming you are serious, since very few posters in DC have a sense of humor. I you are joking, that is sarcastically funny.

If not.....

You give us Gold, which fluctuates directly with the dollar and the instability of the US economy and another "expert" forecast. How many of those "expert" forecasts have been correct, or should I ask, how many "experts" are scratching their heads over why the economy continues to struggle even though the prediced otherwise.


FAIL

notorious
06-30-2011, 06:42 AM
Government and union jobs? :shrug:

Touche.


:(

FD
06-30-2011, 10:00 AM
Twas long ago, done under the name "affordable housing." It's been spun away, but the evidence is there for people willing to look. The (few) Republican attempts to fix it have also been buried...

It's sad that so many have worked to change the "facts" about why this happened, hoping to deflect blame elsewhere, and condemning our future to repeat this stupid mistake again...

The CRA? That was passed in the 1970's. Are you really claiming that it lay dormant for almost 30 years then caused a housing bubble in the mid 2000's? Did it also cause the housing bubble in Spain, the UK, Australia, Japan, etc?

Bewbies
06-30-2011, 12:06 PM
The CRA? That was passed in the 1970's. Are you really claiming that it lay dormant for almost 30 years then caused a housing bubble in the mid 2000's? Did it also cause the housing bubble in Spain, the UK, Australia, Japan, etc?

No. Affordable Housing is gov't speak for giving people mortgages that can't afford them. That's where it all started. Barney Frank, Bill Clinton, Ted Kennedy among others were getting this ball rolling in the early-mid 90's....

HonestChieffan
06-30-2011, 01:12 PM
The CRA? That was passed in the 1970's. Are you really claiming that it lay dormant for almost 30 years then caused a housing bubble in the mid 2000's? Did it also cause the housing bubble in Spain, the UK, Australia, Japan, etc?


You may want to rethink that when you read the changes in the law implemented over the years, each leading to more and more risky loans forced upon banks by federal dictate.

FD
06-30-2011, 01:48 PM
No. Affordable Housing is gov't speak for giving people mortgages that can't afford them. That's where it all started. Barney Frank, Bill Clinton, Ted Kennedy among others were getting this ball rolling in the early-mid 90's....


You may want to rethink that when you read the changes in the law implemented over the years, each leading to more and more risky loans forced upon banks by federal dictate.


http://newsimg.bbc.co.uk/media/images/44217000/gif/_44217522_h_price_416.gif

Wow, those "changes in the law" must have been pretty massive in 2003-2004 to result in the bubble that we see in house prices. Minor tinkering with a 30 year old law isn't going to cut it.

Also, that tinkering in the 90's caused similar housing bubbles at the same time in dozens of countries all around the globe, after a 10 year delay? Really, thats your argument?

HonestChieffan
06-30-2011, 01:52 PM
http://newsimg.bbc.co.uk/media/images/44217000/gif/_44217522_h_price_416.gif

Wow, those "changes in the law" must have been pretty massive in 2003-2004 to result in the bubble that we see in house prices. Minor tinkering with a 30 year old law isn't going to cut it.

Also, that tinkering in the 90's caused similar housing bubbles at the same time in dozens of countries all around the globe, after a 10 year delay? Really, thats your argument?

Cool graph that has nothing to do with the CRA, your clear misunderstanding of the Act and the changes made from the 77 initiation through the banking crisis, its links through statute to Fannie/Freddie, and the use of it to force loans be given to people who could not afford them or pay them back. Give it another shot.

FD
06-30-2011, 02:02 PM
Cool graph that has nothing to do with the CRA, your clear misunderstanding of the Act and the changes made from the 77 initiation through the banking crisis, its links through statute to Fannie/Freddie, and the use of it to force loans be given to people who could not afford them or pay them back. Give it another shot.

The CRA was bad policy, I agree with that. But the housing bubble didn't take off until 2003 and did so simultaneously around the globe, you've given no explanation of how this could be caused by the CRA. Give it another shot.

HonestChieffan
06-30-2011, 02:28 PM
Did someone say the housing bubble was the fault of the CRA?


There were many things that drove the housing bubble, the CRA certainly contributed to it. The biggest flaw of the CRA was the regulators twisting the regs and using it to force banks and lenders to loan to people who they would never approve due to inability to pay back the loans. They were forced to. Then the CRA and Fannie/Freddie combined to make matters worse as they attempted to cover for bad loan on top of bad loan.

The housing bubble had a lot more to it including cheap credit, crazy people borrowing crazy amounts, crazy lenders offering way too much money and way to little down, and people who assumed the sky was the limit and leverage was the best thing ever. The bubble took off years ago. I have ridden that wave and thank goodness I got off. But from 1978 to 1985 and a few years after that, you couldn't make a bad bet in real estate.

Everybody wants to own a house and everyone wants to ride the wave up...that is the housing bubble. It will be back. CRA or no CRA.

I was paying mine off by 2003. I can assure you the bubble started years before that well before we had all this government help.

Jaric
06-30-2011, 02:32 PM
OK, so nothing.

Penchief, I'm still waiting on your answer to the opposite question.

People I consider smarter than myself have brought up the housing bill that more or less forced banks to issue subprime loans to people who quite honestly shouldn't be buying a house.

I forget the exact name of the Bill, so I'm hoping you'll know the one I'm talking about.

mlyonsd
06-30-2011, 06:38 PM
According to Krauthammer, this is what Obama and the dems are pining about....


Krauthammer’s Take (http://www.nationalreview.com/corner/270870/krauthammers-take-nro-staff)
June 30, 2011 11:52 A.M. (http://www.nationalreview.com/corner/270870/krauthammers-take-nro-staff)
By NRO Staff (http://www.nationalreview.com/author/13364)

<!--INFOLINKS_ON-->From Wednesday night’s Fox News All-Stars.
On President Obama’s attack on the corporate jet tax break to achieve debt reduction:
He himself, as we just heard, said you can’t reduce the deficit to the levels we need without raising revenues. Then he talks about the [tax break for] corporate jets, which he mentioned not once but six times.

I did the math on this. If you collect the corporate jet tax every year for the next 5,000 years, you will cover one year of the debt that Obama has run up. One year.

To put it another way, if you started collecting that tax at the time of John the Baptist and you collected it every year — first in shekels and now in dollars — you wouldn’t be halfway to covering one year of the amount of debt that Obama has run up.

As for the other one, he mentions again and again, the oil depreciation tax break — if you collect that one for 700 years, you won’t cover a year of Obama deficits.

And then here’s my favorite. I worked it out in the car on the way here. If you collect the corporate jets and the oil tax together — get all the bad guys and the fat cats at once — and you collect it for 100 years, it covers the amount of debt Obama added… in February!

And he pretends that he’s the serious adult at the table.
<!--INFOLINKS_OFF-->


Krauthammer is a Fox Nazi so feel free to check his numbers.

Amnorix
06-30-2011, 07:38 PM
The current dem stance on tax increases is nothing but a political ploy to save face with their base. Nothing. I repeat nothing. The taxes they want will pay down Obama's one year increas in spending in 2000 years.

That's change you can believe in.


The Republicans -- with only one house of Congress in hand, are trying to dictate everything relating to the raising of the debt ceiling -- a situation that they have an equal share in having created. They're pulling a power play. I support them to an extent, because I do believe fervently in addressing the deficit, but to try to do everything on their own terms (no new taxes!!!) is "nothing but a political ploy to save face with their base. Nothing. I repeat nothing."

The Bush tax cuts have proven themselves a budgetary disaster of the highest magnitude. Whether we implement tax increases now or in the future, we MUST have tax increases as part of a BALANCED and rational approach to fixing the extremely bad deficit/debt situation.

Amnorix
06-30-2011, 07:39 PM
According to Krauthammer, this is what Obama and the dems are pining about....



Krauthammer is a Fox Nazi so feel free to check his numbers.


And yet, like eliminating NPR, it's symbolic, no?

Amnorix
06-30-2011, 07:41 PM
Cool graph that has nothing to do with the CRA, your clear misunderstanding of the Act and the changes made from the 77 initiation through the banking crisis, its links through statute to Fannie/Freddie, and the use of it to force loans be given to people who could not afford them or pay them back. Give it another shot.


No responsibility for mortgage companies who underwrote the paper then handed off the risk to other lenders / investors?

No responsibility for mortgage brokers who took the commissions selling product to people who barely understood the numbers?

No responsibility for the big investment houses who repackaged the shit into a tower of shit and then fooled the ratings agencies into thinking the top floor of the shit tower was an A+ penthouse?

Really?

You are fucking naive.

Amnorix
06-30-2011, 07:43 PM
We have one of the highest corporate tax rates in the world. WTF are you blabbing about?

There's different ways to measure that -- it's not all apples to apples. Witness GE etc.

Amnorix
06-30-2011, 07:45 PM
Turn your sarcasm meter on. I was merely pointing out that the Dems were in charge of Congress the last 2 years of the Bush Presidency and are not to be without blame.


Bush and the Republicans controlled both the WH and Congress for what -- SIX YEARS?

And yet everything is the Democrats' fault? Amazing.

mlyonsd
06-30-2011, 08:18 PM
The Republicans -- with only one house of Congress in hand, are trying to dictate everything relating to the raising of the debt ceiling -- a situation that they have an equal share in having created. They're pulling a power play. I support them to an extent, because I do believe fervently in addressing the deficit, but to try to do everything on their own terms (no new taxes!!!) is "nothing but a political ploy to save face with their base. Nothing. I repeat nothing."

The Bush tax cuts have proven themselves a budgetary disaster of the highest magnitude. Whether we implement tax increases now or in the future, we MUST have tax increases as part of a BALANCED and rational approach to fixing the extremely bad deficit/debt situation.

The issue is where we come to terms on "BALANCED" tax increases. I'm pretty sure you and I could come to terms but the dems are asking for something just to serve up to their base. Meaningless tax increases that can only be considered more class warfare.

As I've said I have no problem with tax increases as long as every American helps out.

Frankie
06-30-2011, 08:54 PM
The left is in meltdown. Little midget Robert Reich's column in the star today tops them all.....cut taxes on the middle class and raise on the rich to stimulate jobs.......

This may be news to you, but every healthy society has a healthy middle class.

CoMoChief
06-30-2011, 09:05 PM
LOL.

He wants to bitch about the war in Iraq. It's obvious he doesn't know the difference between billions and trillions.

mlyonsd
06-30-2011, 09:13 PM
And yet, like eliminating NPR, it's symbolic, no?I don't pretend for a minute the republicans aren't in this for a gain.

Like the dems pushing to end oil company subsidies. Why? Because they are 'rich'?

I think it's more to try and fend off oil exploration in US waters. Dems can play the card that they are for more exploration but if they make it cheaper for oil companies to go elsewhere by taxes the liberal base wins.

We could play this game all day.

dirk digler
06-30-2011, 09:29 PM
And yet, like eliminating NPR, it's symbolic, no?

or Planned Parenthood.

mlyonsd
06-30-2011, 09:35 PM
or Planned Parenthood.Totally different argument when you throw genocide into the mix.

Backwards Masking
06-30-2011, 09:44 PM
To the people at the top of the pyramid, people with less than hundred of millions are upper middle class, people with millions are middle class, and people with less than millions are lower class if not paupers.

Think you're rich cause you make 6 figures a year and have both Lexus and a Benz compared to your neighbor who doesn't? Think again. You're absolute trailer trash to the men behind the curtain.

BucEyedPea
06-30-2011, 10:54 PM
The left is in meltdown. Little midget Robert Reich's column in the star today tops them all.....cut taxes on the middle class and raise on the rich to stimulate jobs.......ok. Antifreeze these people.

Obama sacks private plane owners what 6 months after he pushed breaks through to stimulate buying jets.

They are in 100% random mode. Obama ignoring all his military folks and pulling politics to the front on decisions. The Oil reserve release that drove prices down for a week....they are in meltdown.
He certainly isn't ignoring military folks by staying in Libya.

The Mad Crapper
07-01-2011, 05:22 PM
He was talking about a specific tax break for private jets. Whats wrong with calling people who own private jets "jet owners"?

What are they, .0001% of the population?

notorious
07-01-2011, 05:56 PM
every healthy society has a healthy middle class.

This.

The Mad Crapper
07-01-2011, 07:52 PM
It is still precarious, no doubt.

Nah, come on. Gitout. You big kidder!

ROFL

The Mad Crapper
07-01-2011, 07:59 PM
No responsibility for mortgage companies who underwrote the paper then handed off the risk to other lenders / investors?

No responsibility for mortgage brokers who took the commissions selling product to people who barely understood the numbers?

Could the mortgage companies and brokers do what they did without Clinton's policy that was the catalyst? And would they not have been encouraged by Fannie Mae's eagerness to buy these shitty mortgages from them?

How did Harold Raines get his job as the head of Fannie? How much did he make?

The Mad Crapper
07-03-2011, 09:18 AM
Charles Krauthammer did the math. If you eliminate the Obama-Pelosi-Reid Corporate Jet Tax Break, you would save so much dough that, after 5,000 years, you would have clawed back enough money to cover one year of Obama’s debt. Five thousand years is the year 7011.