OT The Fiscal Magic of “The One” (Political)

[gandalf]

Naw, Veritas. No names today. It’s okay. 90% of Piggs is always great, very cool. I’m pretty laid back most of the time, focus on work and family.

Have to understand, not ordinary times in our country anymore. The right-wing talk-show thing has gone over the top, partisan, dishonest and irresponsible. Most of the people I know are done with it, no more “bash-the-democrats” business. Not the time. Not during war. Not with everything AT RISK the way it is. Look at the polls, that’s where most of the country is. Enough already.

BTW, I’m completely okay with substantive and honest discussions. Completely okay with people who disagree, so long as they’re not disagreeable. Piggs is usually good because it’s generally more substantive than the talking point nonsense you read elsewhere on the Internet.

Moving on, how about this bailout business? Where do you stand? I’m genuinely conflicted. Risks for systemic meltdown are there. They’re real. But I’m a capitalist, and the bailout is worse than socialism, it’s corrupt and something they’d do in Russia. We’re about to create a nationalized banking system. Amazing. Is there any way to ‘let it crash’ without taking down the broader economy?

Also, I have to say, this whole inflation versus deflation debate is just fascinating, in a sick and macabre sort of way, it’s like watching a train wreck in slow-motion, scientific curiosity to see what happens.

I cast my cards with kewp. Deflation rules the day for now because money supply (created through loose credit) is going up in smoke as we speak, in massive amouts. Down the road, if the economy starts to roll again and employment picks back up, we might see vicious inflation, but right now, I’m thinking “Cash is king.”

OTH, there are a few scenarios out there leading to a dollar crisis. Foreign policy plays a role. Frightening stuff, and serious business. I wonder how many people are just cruising along on auto-pilot, no clue as to the magnitude of the risks we face right now… Just surreal.

This too shall pass.

[luchabee]

What a typical comment.

Please ignore the facts when they are presented to you or change the subject into something that would be just “hilarious on Huffington Post Slate.com?” “Drill, baby, Drill,” an instant laugh for urban liberals who never drive and don’t run businesses.

Also, yes, it is always a good idea to give billions of unearned dollars to the American consumer (who don’t pay taxes) to spend on new HD TVs and rims for their SUV. Better yet, increase taxes on American corporations who actually hire people to pay for it . . . during a recession. Fantastic idea.

If America wants Obamanomics, great. However, be careful what you wish for, you just might get it.

[luchabee]

What a typical comment.

Please ignore the facts when they are presented to you or change the subject into something that would be just “hilarious on Huffington Post Slate.com?” “Drill, baby, Drill,” an instant laugh for urban liberals who never drive and don’t run businesses.

Also, yes, it is always a good idea to give billions of unearned dollars to the American consumer (who don’t pay taxes) to spend on new HD TVs and rims for their SUV. Better yet, increase taxes on American corporations who actually hire people to pay for it . . . during a recession. Fantastic idea.

If America wants Obamanomics, great. However, be careful what you wish for, you just might get it.

[luchabee]

What a typical comment.

Please ignore the facts when they are presented to you or change the subject into something that would be just “hilarious on Huffington Post Slate.com?” “Drill, baby, Drill,” an instant laugh for urban liberals who never drive and don’t run businesses.

Also, yes, it is always a good idea to give billions of unearned dollars to the American consumer (who don’t pay taxes) to spend on new HD TVs and rims for their SUV. Better yet, increase taxes on American corporations who actually hire people to pay for it . . . during a recession. Fantastic idea.

If America wants Obamanomics, great. However, be careful what you wish for, you just might get it.

[luchabee]

What a typical comment.

Please ignore the facts when they are presented to you or change the subject into something that would be just “hilarious on Huffington Post Slate.com?” “Drill, baby, Drill,” an instant laugh for urban liberals who never drive and don’t run businesses.

Also, yes, it is always a good idea to give billions of unearned dollars to the American consumer (who don’t pay taxes) to spend on new HD TVs and rims for their SUV. Better yet, increase taxes on American corporations who actually hire people to pay for it . . . during a recession. Fantastic idea.

If America wants Obamanomics, great. However, be careful what you wish for, you just might get it.

[luchabee]

What a typical comment.

Please ignore the facts when they are presented to you or change the subject into something that would be just “hilarious on Huffington Post Slate.com?” “Drill, baby, Drill,” an instant laugh for urban liberals who never drive and don’t run businesses.

Also, yes, it is always a good idea to give billions of unearned dollars to the American consumer (who don’t pay taxes) to spend on new HD TVs and rims for their SUV. Better yet, increase taxes on American corporations who actually hire people to pay for it . . . during a recession. Fantastic idea.

If America wants Obamanomics, great. However, be careful what you wish for, you just might get it.

[gandalf]

John, two quick comments regarding taxation:

1. Relative tax contributions as mapped against the accumulation of wealth (which only loosely equates to what we term ‘income’ in the tax sense), have become far more regressive over the past 30-40 years.

2. There is a fundamental problems with our tax system and it involves the definition of income. In a traditional economic sense, income is what an entity ‘makes’ each year, the difference in wealth year over year. We should stop playing games with what we classify as income, decrease loopholes, tax shelters, and crackdown on tax avoidance.

A fairer and less regressive tax system would be an economic stimulus to the country. Large corporations have become extremely sophisticated in the use of tax avoidance strategies. It is patriotic for these companies to pay taxes. No more ‘shirkers’. Poor people are not the issue.

[gandalf]

John, two quick comments regarding taxation:

1. Relative tax contributions as mapped against the accumulation of wealth (which only loosely equates to what we term ‘income’ in the tax sense), have become far more regressive over the past 30-40 years.

2. There is a fundamental problems with our tax system and it involves the definition of income. In a traditional economic sense, income is what an entity ‘makes’ each year, the difference in wealth year over year. We should stop playing games with what we classify as income, decrease loopholes, tax shelters, and crackdown on tax avoidance.

A fairer and less regressive tax system would be an economic stimulus to the country. Large corporations have become extremely sophisticated in the use of tax avoidance strategies. It is patriotic for these companies to pay taxes. No more ‘shirkers’. Poor people are not the issue.

[gandalf]

John, two quick comments regarding taxation:

1. Relative tax contributions as mapped against the accumulation of wealth (which only loosely equates to what we term ‘income’ in the tax sense), have become far more regressive over the past 30-40 years.

2. There is a fundamental problems with our tax system and it involves the definition of income. In a traditional economic sense, income is what an entity ‘makes’ each year, the difference in wealth year over year. We should stop playing games with what we classify as income, decrease loopholes, tax shelters, and crackdown on tax avoidance.

A fairer and less regressive tax system would be an economic stimulus to the country. Large corporations have become extremely sophisticated in the use of tax avoidance strategies. It is patriotic for these companies to pay taxes. No more ‘shirkers’. Poor people are not the issue.

[gandalf]

John, two quick comments regarding taxation:

1. Relative tax contributions as mapped against the accumulation of wealth (which only loosely equates to what we term ‘income’ in the tax sense), have become far more regressive over the past 30-40 years.

2. There is a fundamental problems with our tax system and it involves the definition of income. In a traditional economic sense, income is what an entity ‘makes’ each year, the difference in wealth year over year. We should stop playing games with what we classify as income, decrease loopholes, tax shelters, and crackdown on tax avoidance.

A fairer and less regressive tax system would be an economic stimulus to the country. Large corporations have become extremely sophisticated in the use of tax avoidance strategies. It is patriotic for these companies to pay taxes. No more ‘shirkers’. Poor people are not the issue.

[gandalf]

John, two quick comments regarding taxation:

1. Relative tax contributions as mapped against the accumulation of wealth (which only loosely equates to what we term ‘income’ in the tax sense), have become far more regressive over the past 30-40 years.

2. There is a fundamental problems with our tax system and it involves the definition of income. In a traditional economic sense, income is what an entity ‘makes’ each year, the difference in wealth year over year. We should stop playing games with what we classify as income, decrease loopholes, tax shelters, and crackdown on tax avoidance.

A fairer and less regressive tax system would be an economic stimulus to the country. Large corporations have become extremely sophisticated in the use of tax avoidance strategies. It is patriotic for these companies to pay taxes. No more ‘shirkers’. Poor people are not the issue.

[gandalf]

luch, I’m not an urban liberal, I run a business and I wince when I look at the amount of tax we pay each payroll cycle, every quarter, etc.

That said, I find Obama’s fiscal proposals to be far more sound and business conservative than McCain and the GOP. Healthcare is an example where sound public policy can translate into improvements on the bottom line in the private sector. Energy policy is another area, and Obama’s energy proposals are far superior to the GOP.

In a similar vein, Obama’s tax policy proposals strike me as better for business than McCain/GOP. Crackdown on tax avoidance. Fortune 500 companies are posting record profits and shirking taxes offshore. Average business don’t have legions of consultants, lawyers and accountants devising tax avoidance strategies.

GOP talking points have been deceptive on the facts, more so in this election than any other I can remember. Ex-GOP here, so I don’t drink leftie kool-aid. I’m calling it like I see it. Obama and the Dems are a better choice for my business. Open to substantive comments you might have, specific issues.

[gandalf]

luch, I’m not an urban liberal, I run a business and I wince when I look at the amount of tax we pay each payroll cycle, every quarter, etc.

That said, I find Obama’s fiscal proposals to be far more sound and business conservative than McCain and the GOP. Healthcare is an example where sound public policy can translate into improvements on the bottom line in the private sector. Energy policy is another area, and Obama’s energy proposals are far superior to the GOP.

In a similar vein, Obama’s tax policy proposals strike me as better for business than McCain/GOP. Crackdown on tax avoidance. Fortune 500 companies are posting record profits and shirking taxes offshore. Average business don’t have legions of consultants, lawyers and accountants devising tax avoidance strategies.

GOP talking points have been deceptive on the facts, more so in this election than any other I can remember. Ex-GOP here, so I don’t drink leftie kool-aid. I’m calling it like I see it. Obama and the Dems are a better choice for my business. Open to substantive comments you might have, specific issues.

[gandalf]

luch, I’m not an urban liberal, I run a business and I wince when I look at the amount of tax we pay each payroll cycle, every quarter, etc.

That said, I find Obama’s fiscal proposals to be far more sound and business conservative than McCain and the GOP. Healthcare is an example where sound public policy can translate into improvements on the bottom line in the private sector. Energy policy is another area, and Obama’s energy proposals are far superior to the GOP.

In a similar vein, Obama’s tax policy proposals strike me as better for business than McCain/GOP. Crackdown on tax avoidance. Fortune 500 companies are posting record profits and shirking taxes offshore. Average business don’t have legions of consultants, lawyers and accountants devising tax avoidance strategies.

GOP talking points have been deceptive on the facts, more so in this election than any other I can remember. Ex-GOP here, so I don’t drink leftie kool-aid. I’m calling it like I see it. Obama and the Dems are a better choice for my business. Open to substantive comments you might have, specific issues.

[gandalf]

luch, I’m not an urban liberal, I run a business and I wince when I look at the amount of tax we pay each payroll cycle, every quarter, etc.

That said, I find Obama’s fiscal proposals to be far more sound and business conservative than McCain and the GOP. Healthcare is an example where sound public policy can translate into improvements on the bottom line in the private sector. Energy policy is another area, and Obama’s energy proposals are far superior to the GOP.

In a similar vein, Obama’s tax policy proposals strike me as better for business than McCain/GOP. Crackdown on tax avoidance. Fortune 500 companies are posting record profits and shirking taxes offshore. Average business don’t have legions of consultants, lawyers and accountants devising tax avoidance strategies.

GOP talking points have been deceptive on the facts, more so in this election than any other I can remember. Ex-GOP here, so I don’t drink leftie kool-aid. I’m calling it like I see it. Obama and the Dems are a better choice for my business. Open to substantive comments you might have, specific issues.

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