Linked by Thom Holwerda on Tue 31st Aug 2010 22:09 UTC
Legal Despite doing what I think are some great things for the American people, the Obama administration has a dark side. Joe Biden and many others on staff come straight from the RIAA camp, and it shows. Today, the Obama administration disregarded every US law relating to theft and copyright by stating that piracy is "flat, unadulterated theft".
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RE: Screwed again
by FuriousGeorge on Wed 1st Sep 2010 08:16 UTC in reply to "Screwed again"
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Funny how this administration is "pro-little-guy" when it costs me money, and pro-corporation when -- you guessed it -- it costs me money.

Taxes are lower, not higher. As reported in right-leaning Forbes (as in Steve Forbes) Magazine:

More than two-thirds thought that taxes are higher today, and only 4% thought they were lower; the rest said they are the same.

As noted earlier, federal taxes are very considerably lower by every measure since Obama became president. And given the economic circumstances, it's hard to imagine that a tax increase would have been enacted last year. In fact, 40% of Obama's stimulus package involved tax cuts. These include the Making Work Pay Credit, which reduces federal taxes for all taxpayers with incomes below $75,000 by between $400 and $800.

According to the JCT, last year's $787 billion stimulus bill, enacted with no Republican support, reduced federal taxes by almost $100 billion in 2009 and another $222 billion this year. The Tax Policy Center, a private research group, estimates that close to 90% of all taxpayers got a tax cut last year and almost 100% of those in the $50,000 income range. For those making between $40,000 and $50,000, the average tax cut was $472; for those making between $50,000 and $75,000, the tax cut averaged $522. No taxpayer anywhere in the country had his or her taxes increased as a consequence of Obama's policies.

It's a common mistake.

Tom: doing what I think are some great things for the American people

Yep, bankers, Hollywood and rich people love him.

Actually, Wall St. stopped donating after the passage of financial reform.

Follow the money to see what bankers think about this administration's policies.

As far as "rich people" benefiting disproportionally from the current administration's policies: that;s just silly talk.

The unemployed middle class is having second thoughts.

This amounts to "you're not fixing an epic disaster which occurred under the last guy's watch fast enough!" This truly is the deepest recession since the Great Depression, and unemployment is a lagging indicator.

"Despite doing what I think are some great things for the American people..."

Oh, you mean like the 1.4 TRILLION dollar annual Federal debt that future generations will be saddled with???

Are you suggesting Hoover-nomics?

How did cutting spending work out under Herbert Hoover leading into the Great Depression?

How did increasing spending work out for FDR?

How does history remember those policies?

If balancing the budget is your concern, then you must favor allowing the Bush tax cuts to expire for the richest two percent. That is not a "new tax" by the way. It's the current law mandated by the use of reconciliation to pass the bill in the first place, and would save 1 Trillion $.

It's 3.7 Trillion if you allow them to expire for everyone, which pays for TARP (which was not passed by this administration, contrary to popular belief) and The Stimulus.

Also, contrary to other mythology propagated by politicians seeking (re-)election, cutting taxes (surprisingly) does not balance a budget.

Some of you guys sound misinformed on political issues.

P.S. Did you know Reagan oversaw the largest increase in the Federal Deficit as a percentage of any modern president?

Edited 2010-09-01 08:33 UTC

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