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HeloDude

Taxes, the Deficit/Debt, and the Fiscal Cliff

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What about some pilot-style gouge that focuses on the important stuff, like what you can personally do about it? I e-mailed my congress critters and asked them to please get solvent ASAP and got a nice form e-mail response. That step out of the way, what are you and your 10-lb brain finance egghead comrades doing with your money in a financial landscape with a quadrillion bucks in derivatives outstanding, a government that can't balance its checkbook with a populace that doesn't care, and insane monetary interventions and liquidity injections mispricing everything under the sun? What is the smart course of action here?

Start buying Chinese Yuan. Or maybe Yen.

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Really?

What's with some of the clowns on here demanding footnoted term papers out of other people for every answer? Get off your ######ing high horse. If you want knowledge, seek it out yourself. Don't bitch that someone else--on an Internet forum for ######s same--didn't do the work for you. No one owes you anything.

Talk about high horse. Relax just a little.

My point is if Rainman is going to jump in and say stuff, why not back it up. No one's asking for a term paper. Maybe I should have been more clear. BO.net is definitely not my only source of info, but I bounce it off a lot of other things, and often use the topics in here as starting points for the research I do.

The level of Internet courage in here never ceases to amaze. Your post is a perfect example, but of course your Internet courage will bolster you to say something stupid like, "I'd say that to your face". If that's true I feel sorry for the immense lack of tact and courtesy you subject the world to everyday. Another reason our society is steadily going downhill, everyone who thinks they are slightly in the "right" is, as you say, on some ridiculous high horse that they believe enables them to act however they want.

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...I feel sorry for the immense lack of tact and courtesy you subject the world to everyday. Another reason our society is steadily going downhill...

Noonin, so you're the reason our society is going downhill?!

You bastard.

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Noonin, so you're the reason our society is going downhill?!

You bastard.

Not the first time someone has accused me of that. Won't be the last.

  • Upvote 1

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Man, you guys got me. I'm gonna tuck my tail and hide now. Two Internet tough guys have ganged up again... Important lesson for everyone, never go against these pillars of BO.net. Pretty sad that even the guys you agree with most of the time do their best to piss everyone and anyone off.

Edited by slackline

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Two Internet tough guys have ganged up again...

Hey wait a second...are you implying that I'm not tough in real life?

Great. Now I've been exposed. Thanks a lot slack line, you bully.

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Hey wait a second...are you implying that I'm not tough in real life?

Great. Now I've been exposed. Thanks a lot slack line, you bully.

Pvssy.

Edited by BlackKnight

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Taxing "the rich" and hating on churches will not solve one of the primary issues with government spending.

The case concerns grants to a St. Paul nonprofit called the Sierra Young Family Institute, Inc. The department of health paid the Sierra Young Family Institute $328,993 in state and federal funds beginning in July 2010 and ending June 30, 2012 to work on reducing health disparities in the black community...

The resulting report found that the executive director of the Sierra Institute had used grant money to pay family members more than $100,000.

Investigators found the Sierra Institute's executive director could not fully explain payments to high-end retailers and checks made out to herself.

The report says the executive director fabricated documents to conceal her use of grant money for personal expenses. Investigators said they could not find anyone who had benefited from the Sierra Young Family Institute's programs.

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nsplayer and I had a discussion about the Tea Party a while back. I can't even remember it all except that I think I advocated that the Tea Party influence was not sustainable as a force in the GOP for the obvious reasons we just witnessed over the past year.

The GOP appears to be making their course correction move and have chosen winners and losers.

http://www.guardian.co.uk/world/fiscal-cliff-blog/2012/dec/06/fiscal-cliff-obama-polls-live?CMP=twt_gu&fb=native

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Repubs are already talking Jeb Bush in 2016. Might not have a bad shot against Hillary. Apparently the elder Bush, who is usually quiet, has been doing some public pushing for the party to change course as of late.

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Yeah, that is what Republicans need. We need to closer associate the Republican name with the Bush family.

Cheney's gay daughter has a better shot at winning in 2016.

Edited by one

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Jeb is not his brother. I think it would be a move in the right direction for the party. Somewhat centrist, he'd probably pull in more than a few independents and may secure FL in a national election. And to the story Rainman linked......wow. These are the schools my kids will be attending soon. Guess I'd better start saving for private school.

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These are the schools my kids will be attending soon. Guess I'd better start saving for private school.

Fuck that, if you live out there you need to start Doomsday Prepping. California's goin' down.

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george_hw_bush_family_history.png

George H.W. Bush is a great man but no one in this family tree should try to become president.

Edited by one

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I'll take the hit for starting this, kind of. My post was related to the current negotiations wrt possible GOP movement on taxes.

Take it to another fucking thread.

Edited by Rainman A-10

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###### that, if you live out there you need to start Doomsday Prepping. California's goin' down.

Seems like a case of "If I owe the bank $100,000 I have a problem....If I owe the bank $10,000,000 the bank has a problem."

Default seems inevitable.

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Seems like a case of "If I owe the bank $100,000 I have a problem....If I owe the bank $10,000,000 the bank has a problem."

Default seems inevitable.

I doubt we'll ever default on our debt. Our nation borrows money because it has the ability to do so freely, but as soon as that ability to borrow becomes threatened, we will inevitably put forth whatever measures are required to keep it sustainable. It's similar to all the drama regarding raising the debt ceiling, there's no way we would ever NOT raise it. It's just that politicians want to get every bit of political theater and posturing that they possibly can before the deadline hits.

It's simply one power grab attempt after another. If we go over the fiscal cliff, it will be completely for political posturing reasons. The fact that the GOP keeps refusing to budge on the issue of the highest tax bracket seems very silly to me, because news outfits keep reporting that more and more Americans are siding with Obama and the Democrats on this thing. If the GOP doesn't give any ground, then Americans are going to blame the GOP for going over the cliff, not Obama.

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I doubt we'll ever default on our debt. Our nation borrows money because it has the ability to do so freely, but as soon as that ability to borrow becomes threatened, we will inevitably put forth whatever measures are required to keep it sustainable. It's similar to all the drama regarding raising the debt ceiling, there's no way we would ever NOT raise it. It's just that politicians want to get every bit of political theater and posturing that they possibly can before the deadline hits.

It's simply one power grab attempt after another. If we go over the fiscal cliff, it will be completely for political posturing reasons. The fact that the GOP keeps refusing to budge on the issue of the highest tax bracket seems very silly to me, because news outfits keep reporting that more and more Americans are siding with Obama and the Democrats on this thing. If the GOP doesn't give any ground, then Americans are going to blame the GOP for going over the cliff, not Obama.

That's only because more and more Americans have no clue what is actually going on. They blindly follow what CNN, MSNBC, FOX, etc tells them. Not saying Fox is saying same thing as CNN, etc, just that people follow their BS just the same. Show hard facts where continuing to drive the tax rates up ever solved the problem. If it creates more revenue the govt just finds more uses for it. People may blame the GOP, but it isn't their fault. They are equally as inept as the Dems.

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It's simply one power grab attempt after another.

Not sure who you think is grabbing power or what power they are grabbing. The problem we are facing is a result of both parties buying, not grabbing, power with borrowed money.

I don't think we will default (or become insolvent) because I am trying to stay optimistic that there are enough people on both sides who see how we are really in deep shit if we don't get the debt under control.

We will default eventually unless we change something. Simple math.

Unfortunately, there are too many people who think this is all about politics. They truly believe think the unfunded entitlement program liabilities will somehow get covered, the current trajectory of debt expansion is sustainable and we will never default because we can always borrow more without any economic consequences.

Reckless, irresponsible and foolish.

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###### that, if you live out there you need to start Doomsday Prepping. California's goin' down.

California will just be the first of many. New York, Illinois, and New Jersey will shortly follow.

I doubt we'll ever default on our debt. Our nation borrows money because it has the ability to do so freely, but as soon as that ability to borrow becomes threatened, we will inevitably put forth whatever measures are required to keep it sustainable.

The federal government may print all the money that it wants and that will work just fine, right up until it doesn't. The states have no such option and you can see that in all the municipalities going bankrupt and paying out 20 cents on the dollar for pensions, cutting services and employees, etc.

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This is Obama's presidency and success or failure will rest squarely on his shoulders. There will not be an asterisk next to his name in the history books saying "it was the Republicans' fault."

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Blue states having some problems? Weird.

And that fact not in the news, strange.

Edited by matmacwc

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That's because there's actually quite a bit of space between the current quality of life and rock bottom for most blue states. If Mississippi went bankrupt, nobody would even notice for 5 years.

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