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Jan 22, 2008, 15:01 GMT
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Older Talkback
Now here's an Federal Government Department to close up >>>> The US Treasury, never had any money in it and never will. Henry Paulson the figurehead of this said department, can talk all he wants, his hands are tied to the Jews that control our banks.............Follow the money, to afraid to do it !! Major arms deal from the US to the Middle East, so they raised the price of oil to pay for it...Thanks Pres. Johnson, remember his words to the Saudis when they couldn't afford our arms package back then. Raise the price of your oil to pay for it he said,,,,they did and continued to do so to this day !!
Could this up and coming very big recession we are headed, is being controlled by the Jews Banking Empire. 'Yes', we will be departing Iraq soon, and yes this war was run by a handful of draft dodgers, looking for a way to take out 1 of the last 2 army's that are a threat to Israel. So when we depart all hell is going to happen in Iraq. Iran will then move in and control Iraq { lets face it, they already are }, just what Israel wants in their back yard. Money was flowing into the the US from Israel, { The World Bank } as we took out every major army around Israel. Now we can't get quality military recruits, or military is to the point of no return, desertions are at an all time high of 27,000 and growing as reported by the our military leaders....The US economy is getting it's butt paddled by the World Bank, lets face it their money to run our government comes with strings attached to it !! The US needs lots of $$$ to pay for overseas investments, the people of the US need oil to get to work...We are by now being controlled, by Middle Eastern Governments. We do have the worlds biggest military { well maybe China, but that depends which paper you read }but with no $$$ and oil, we are at the knees of the Middle East. This is what happens when you use Jewish money that comes with strings attached to run your government, then turn around and sell arms to the rag-heads that want to blow their hears off. If I was a Jew { or on the Board of Directors of the World Bank } you would not loan the US any more money
Think about it..................And so it is !
Talk amongst yourselves, so we can see contrasting nutcases at work.
Its what is is 4PS, you must be a JEW...............
... and I doubt that you do, either.
I'd tell you to keep making an ass of yourself, but I doubt that you need any encouragement.
The problem with the theory behind SP4's stolen thesis is that it projects the USA as a closed system,nothing can go in or out .Not the slightest hint on a global market anywhere in this simplistic view of the market .Reality is somehow more complicated .In a world where consumer goods are imported from Taiwan,Korea,China lowering taxes (for the richest part of the population anyway,as demonstrated by so many on this site with statistics ) ,the money liberated for additional purchases is flowing abroad,to China,Taiwan,Korea,etc .Hence the massive hoard of US dollars in China .Easy to understand,right ?Another problem is raised prices of the basic commodities for living .The price of food has risen with about 20 percent in one year ,these figures are calculated by consumer organizations,they differ somewhat from the official statistics ,at least here in Europe .Additional problem in the USA is the enormous budget deficit made by Bush .TRillions of dollars of debt don't really rhyme with the pretended record tax earnings .This situation is to be imputed to Bush only,Clinton left a clean slate . mirrored by SP4 .Well hello Bush,thanks for invading Iraq and digging that hole in the wealth of your nation ,the legacy of Clinton.
And we haven't been talking of the most recent manifestation of the economical crisis yet,the collapse of the mortgage and financial markets yet .But frankly that is the least interesting part to me .Just open your umbrellas when walking through Wall Street to avoid bankers jumping out of the windows.
www.nytimes.com/2008/01/23/washington/23database.html
WASHINGTON — Students of how the Bush administration led the nation into the Iraq war can now go online to browse a comprehensive database of top officials’ statements before the invasion, connecting the dots between hundreds of claims, mostly discredited since then, linking Saddam Hussein to Al Qaeda or warning that he possessed forbidden weapons.
Warnings about the need to confront Iraq, by President Bush, Vice President Dick Cheney, Secretary of State Colin L. Powell, Defense Secretary Donald H. Rumsfeld, the national security adviser, Condoleezza Rice, and two White House press secretaries, among others, can be combed line by line, and reviewed alongside detailed critiques published after the fact by official panels, historians, journalists and independent experts.
The database is online at www.publicintegrity.org
You didn't learn a thing. Golly, what a surprise...
I'm not quite sure where you came up with that hallucination about a closed system. On the contrary, one of America's chief strengths is it's trade and trading partners. There is a relationship with taxes here but it really isn't relevant to the tax theory we discussed.
Taxes are leveled on citizens and businesses in America. A successful tax and tax policy raises revenues, because that is the only practical reason for a tax.
Tax revenues are what taxes are supposed to be about and that being the case, the tax reductions were wildly sucessful for the reasons stated. Tax revenue is through the ceiling for the last seven years, no matter how you gauge it. It is above even the CBO's and White House budget projections. By every standard it is a success, and it came forth from a clear thinker, even if he is not a great thinker.
Now, you can talk about the value of money i.e inflation, etc., and that has been kept pretty low, considering the destruction of the manufacturing base in America i.e. metals, chemicals, wood and paper, and countless other industries, due to the liberal agenda, their trial lawyers, unions and eco-nazi policies, but, in the end taxes are still taxes, and that being the case, the policy worked, and worked spectacularly.
If you wish to discuss dollar strength, trade or the weather, we can do that too, but it has little to do with taxation.
Schools out.
RE: Tax revenues are what taxes are supposed to be about and that being the case, the tax reductions were wildly sucessful for the reasons stated.
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Have you even BOTHERED to read the information posted re the Laffer Curve on which the entire theory is based, you brainwashed twit? We are long past the point where further reductions in rates are made up for by increased business paying taxes at lower rates. That would require a geometric increase in the amount of added business, since the tax revenue from that increased business would be taxed at lower rates per unit of production. Tax cuts dribbling in over years do NOTHING for the lower and middle classes, and of course many just pay FICA and no income tax due to total earnings below the limits. Since the poorest SPEND what they're given, any plan to boost spending should include a temporary offset to those FICA payments as well for the lowest earners.
Any cuts received by the middle class have been absorbed already by energy price hikes. The 'wealthy' are wealthy because they don't spend it all.
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As Bob Hormats noted yesterday in an interview with the BBC, taxpayers raised $600 BILLION IN 2006 from mortgage refinancing, NOT tax reductions.
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(A pretty good prediction from 2005)
www.nytimes.com/2005/02/24/opinion/24friedman.html
Given the number of people who have refinanced their homes with floating-rate mortgages, the falling dollar is a kind of sword of Damocles, getting closer and closer to their heads,' Mr. Rothkopf said. 'And with any kind of sudden market disruption - caused by anything from a terror attack to signs that a big country has gotten queasy about buying dollars - the bubble could burst in a very unpleasant way.'
Why is that sword getting closer? Because global markets are realizing that we have two major vulnerabilities that this administration doesn't want to address: We are importing too much oil, so the dollar's strength is being sapped as oil prices continue to rise. And we are importing too much capital, because we are saving too little and spending too much, as both a society and a government.
'When people ask what we are doing about these twin vulnerabilities, they have a hard time coming up with an answer,' noted Robert Hormats, the vice chairman of Goldman Sachs International. 'There is no energy policy and no real effort to reduce our voracious demand of foreign capital. The U.S. pulled in 80 percent of total world savings last year [largely to finance our consumption].' That's a big reason why some '43 percent of all U.S. Treasury bills, notes and bonds are now held by foreigners,' Mr. Hormats said.
(Had this situation been handled before the 2004 elections, Bush would have been the hero he always pictured himself as. Now, Iraqi expenditures are a large drain on the economy, and will continue to be).
Here's an updated graph of war costs BY YEAR; and of course future costs and VA costs are not included, as well as the loss of income by Guard members serving, and the attendant loss of tax revenues to their home districts:
zfacts.com/p/447.html
THE TOP ONE PERCENT OF EARNERS WILL RECEIVE TAX CUTS OF $477 BILLION BY 2010. THE COST OF THE WAR THUS FAR IS $458 BILLION.
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This particular attack has nothing to do with al Qaeda, but rather Sunni militants:
www.guardian.co.uk/Iraq/Story/0,,2245529,00.html
Seven people were killed and up to 70 wounded in a bomb attack on a residential building in Iraq's northern city of Mosul today.
The blast occurred as police arrived at the building to investigate a tip-off that weapons were being stored in the block. Women and children were among the casualties, police said.
Witnesses told Reuters it was one of the biggest explosions they had ever heard in Mosul, which is 240 miles north of Baghdad.
A militant Sunni group is thought to be responsible for the blast
GEE dear old SP4, call me a nutcase !! Very sorry you don't investage.
Bush and Cheney are draft dodgers. Bush ran to the Air National Guard and pushed a broom, while Cheney was deferred 3 times. Between them they have 'ZERO' war experience. The US is borrowing more money then it is taking in. Where is the money coming from? A kid I know, did a book report on the subject of World Bank Money, received an A, he's only 14 years old. His next class project is Johnson's great Society. Pres. Johnson did say what he did, well the next day the stock market was in the toilet, so NAFTA was in the works and Johnson's great society was starting to be dismantled, gone as of a few months ago...
SP4, get off the media that is owned and controlled by the Jew's. Maybe you would like to travel to South America with me, to see the results of your Free Trade Agreements. I think the UN would allow you some time to dig in one of many mass-graves that are being uncovered, and never reported in the US. The grave I was in contained Union leaders, Teachers and the usual far-left political wannabes...There is room in the pit.......
And so it is.......................
The nutcase SP4 just said that the strenght of the US deficit is caused by it being a part of the global market.Last time I checked the USA had an enormous trade DEFICIT .Does that ring a bell to you ?
Lower tax means more consumption,more consumption means more import (for everything that is manufactered cheaper outside of the USA ŕMore import means loss of monetary mass and concentration of debts in other countries .Is that so difficult to understand .Your knowledge of the world is so poor that you have to invent completely ridiculous schemes to protect your neocon buddies from being exposed .The only outcome of the Bush era is a bottomless pit,it is called budget deficit,in other words debts .For every head in the USA more than 30.000 dollars .Which wil have to be paid .By whom?Any idea ?
Small correction ,the first line should read ...the strenght of the US economy,etc;etc
RE: 'On the contrary, one of America's chief strengths is it's trade and trading partners.'
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Much of what America uses for components, for example in building of automobiles, is imported from overseas. They can make cheaper quality parts overseas because of lower wages, lower cost of living, and graduating, in some countries, far more engineers that we do. The Japanese, for example, learned modern manufacturing techniques from 'westerners', including people like Peter Drucker.
How can SP4 applaud this while complaining about U.S. companies moving manufacturing moving overseas in order to take advantage of the above listed benefits???
This kind of conflict comes from the fact that he's a damned parrot reading Conservative web sites, while not understanding what he's reading.
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The U.S. is a large purchaser of imported goods, both components and subassemblies that are part of our branded products, and finished goods like a Sony DVD player. Our economy is now thriving on exports, and the drop in the dollar vs. other currencies is making that happen. At the same time, countries like Germany are very upset, because they can no longer compete on exports, and the Euro may now be too strong vs. the dollar. Oil is priced in dollars, and the oil-producing states take a beating whenever the dollar drops, or we cut interest rates.
The U.S. has to borrow $2 billion a day to remain in business. Lowering interest rates makes it more difficult to attract foreign purchases of Treasuries, as countries can get better rates elsewhere, and the Euro now is a very stable currency. That was not true years ago; and if the U.S. credit rating suffers, some who hold U.S. Treasuries could refuse to 'roll over', and could move funds elsewhere - very easy to do these days.
Sovereign funds hold trillions of dollars, and are making investments in U.S. companies. No problem with minority shares where they don't exercise control, but that could change, as it does not take a huge share to exert pressure on the BOD. The public shareholders have relatively little influence, compared to large institutional holders like CREF.
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