The SuperHeroHype Forums - Discussion: The Economy, National Debt, And Other Financial Issues II

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Re: Discussion: The Economy, National Debt, And Other Financial Issues II

I don't know that we have a revenue problem. The government is pulling in more money than ever before in history.

NOT TRUE!

http://www.usgovernmentrevenue.com/u..._g_g_g_g_g_g_g

We have taken in less revenue in the past 3 years than we did from 2006 to 2008.

Quote:

Originally Posted by wiegeabo (Post 21151967)

But we definitely have a spending problem.

It's probably a good bet that the government is spending twice as much money as they need to. If we consider social security and medicare/caid as untouchable, probably every other program and department could be eliminated, consolidated, or cutback/made more efficient.

That's really a matter of opinion. What you might feel is unnecessarily spending may be very valuable to someone else. Why are we subsidizing oil companies who have been making record profits over the past few years? Yet we have a number of conservatives who say that we shouldn't eliminate that subsidy. Why are we allowing wealth folks and corporations the ability to write off their corporate jets? As far as I am concerned that is not equal protection since there are a lot of folks who don't enjoy the same benefit (many corporations have used that argument to get out of being taxed in the past). The point is that one could say that government is spending too much, but that's debatable as we have already seen.

Quote:

Originally Posted by wiegeabo (Post 21151967)

The DOD can probably easily survive on less than half their current budget once we end the wars. Even without ending them, I have to wonder how much we could save by pulling troops out of friendly countries that don't need to be there.

I can not argue that there would be a savings from pulling our troops out of places like Afganistan, Iraq, and even countries in Europe. This thing is though, what will our soldiers be coming back too. Will there be jobs for them (the ones who decide to leave the service)? We can make those cuts, but we should also be willing to provide a proper transition for the troops back into society.

Quote:

Originally Posted by wiegeabo (Post 21151967)

And even social security and medicare need serious reform. I really doubt they need all the money they're taking in to provide the current level of service. Actually, I wouldn't be surprised if they could offer more than they currently do on a smaller budget.

Social Security and Medicare are fully funded beyond the 10 years they are planning to make cuts. They get their revenue from from payroll taxes. If any thing should be cut it should be subsidies to corporations who are already making a profit. If they can't survive without it, then they should just go out of business, (no government involvement) right?

Yes, if we are spending at a deficit, they that means we really don't have the money to actually do what we want, but that doesn't mean that there is just a single solution to resolve this, for there are several ways that should be considered. One way to do that is to increase the amount of money coming in. You could also cut your spending, but if the services you are providing are actually needed, then the amount of cuts are limited. We certainly have a revenue problem since we are at 9.1% unemployment and have a lot of the Baby Boomer Generation starting to retire and leave the workforce. That by inference should mean that we should be taking in less revenue as a government as time progresses. Obviously, it should be evident that decreasing unemployment increases revenue and lowers your deficit.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Can someone say... Ron Paul
BTW...this "Super Committee" is effectively taking taking process out of the hand of rogue congressional members(Tea Party); as well as, from the voting American Public. We are no longer a Democratic Republic. Forming a "Committee" to decide financial policy, and later social legislation(you know it's coming), completely without members of both, the full House & Senate, to propose, debate, petition American support, and vote.... is Fascist.

People, open your eyes to the direction that these leaders are leading. It a one Party, two headed beast, in complete agreement.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Quote:

Originally Posted by DACrowe (Post 21159965)

You see, the Democrats really aren't my way or the highway. If they were, there would have been no debt ceiling deal that gave Tea Baggers 98% of what they wanted. If they were, Obama would not have attempted a grand bargain (which he needs to release and publicly start campaigning for NOW) that included cuts into entitlements.

Moral equivalency is not always true. Also, the Dems are clearly not for lower taxes. Not when a major campaign issue in 2012 will be they saying let the Bush tax cuts expire at the end of that year.

The Republicans are for minimal ******** cuts. While Dems are for higher taxes and are not for deficit reduction. Many times over in history bureaucratic liabilities grow into bigger money loser. They are both morally equivalent losers.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Quote:

Originally Posted by Venom'sDad (Post 21160323)

It sounds like Harry Reid may be choosing Patty Murray, John Kerry, and Max Baucus and the 3 Democratic Senators on that panel. this is coming form the National Journal.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Been waiting and saving this up:

http://img705.imageshack.us/img705/1...werebackne.jpg

:woot::woot::woot::woot::woot:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

I officially have stopped watching business news....

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Quote:

Originally Posted by Kelly (Post 21161183)

I officially have stopped watching business news....

Why something happened to the economy? :awesome:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

America's back?

:lmao:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

I vaguely remember that cover and going..."I dunno, that may be counting your chickens before they hatch."

That was an understatement.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

...the DOW closed today with a 429 point gain. :dry:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

A lot of people bought when it was cheap.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Bears were calling for a rebound after the blood bath. So it's no surprise. Being oversold and all.

That said, I doubt we will hit any highs for the year.

When the next rebound occurs it might be a good time to unload for those who have enough panic attacks. Maybe look to re-invest it.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

An old article by Mark Cuban

What Business is Wall Street In ?

Interesting read back in 2010.

Here is a clip

Quote:

The best analogy for traders ? They are hackers. Just as hackers search for and exploit operating system and application shortcomings, traders do the same thing. A hacker wants to jump in front of your shopping cart and grab your credit card and then sell it. A high frequency trader wants to jump in front of your trade and then sell that stock to you. A hacker will tell you that they are serving a purpose by identifying the weak links in your system. A trader will tell you they deserve the pennies they are making on the trade because they provide liquidity to the market.

I recognize that one is illegal, the other is not. That isn’t the important issue.

The important issue is recognizing that Wall Street is no longer what it was designed to be. Wall Street was designed to be a market to which companies provide securities (stocks/bonds), from which they received capital that would help them start/grow/sell businesses. Investors made their money by recognizing value where others did not, or by simply committing to a company and growing with it as a shareholder, receiving dividends or appreciation in their holdings. What percentage of the market is driven by investors these days ?

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Changes in the stock market don't measure or reflect anything, they only show for what traders are buying and selling in corporate investments, not the whole of the economy. The corporate Wall Street doesn't control enough business in the US to be reflected by this. There are few positive correlations between the two.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

http://www.youtube.com/watch?v=q6vi528gseA

cant ****in believe it...and someone like him was in charge of the fed...

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

This whole corporate jet owner write off is such a ruse to get the non-wealthy irritated with the wealthy. They are not allowed to "write off" a corporate jet. They are allowed to depreciate the value of the jet over five years instead of the seven years that commercial jets are allowed. Also, the Democratic controlled congress passed a "Bonus Depreciation" tax credit as part of their stimulus. And then again, the Democratic controlled congress passed at the end of 2010 tax provisions to enhance Bonus Depreciation. Sounds quite hypocritical if you ask me.

Here's an article on the "corporate jet" nonsense:

http://jacknutter.typepad.com/my-blo...uction.html#tp

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Nancy Pelosi flies around in a private jet on the tax payer's dime so it is a lame tactic.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

It is amazing the benefit package they have, and for them to be so holier than thou makes me sick....

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Another day, another 400 drop in the Dow.

This is so 2008.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

My portfolio is so sucking right now, and its in better shape than most I know of....

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

I want to start a whacky extremist party except instead of trying to get rid of taxes or the Reserve or the government, I want to get rid of Wall Street. I want to dissolve the Stock Exchange and everything else that deals with imaginary money.

Bazaars and markets. It's good enough for all of us.

Oh and hello all. It's been a month. Quiet? Miss me?

:D

:cap: :cap: :cap:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Quote:

Originally Posted by JJJ's Ulcer (Post 21165909)

Another day, another 400 drop in the Dow.

This is so 2008.

http://i51.tinypic.com/2hnw2kk.jpg

Looking at stocks on a daily basis is pointless unless you're a trader. If you're in any kind of long term investment, the stock market has proven over and over that it provides the best returns. It's just the most volatile of the investments.

If you're looking for a short term investment, you really shouldn't be in the stock market anyway.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Quote:

Originally Posted by Tao43 (Post 21165709)

So...if you get around the semantics are you saying because it isn't a simple write-off that this loophole and advantage shouldn't be closed? Because if it is, it could mean billions of dollars in savings and if we're going to cut another $1.5 trillion, those billions could mean fewer Pell Grant scholarships get cut, National Parks may not have to close early, or perhaps somebody who inspects food won't lose their job.

Really, the question is what's worth protecting more, billions in a tax break for private jet owners or the needs of most Americans? It is pathetic that things like that and subsidies for oil companies are off the table.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Politicians waste just as much money. They get an amazing healthcare plan even though the vast majority are already millionaires, they get to run around in private jets, limos, and buses, they get lavish events and catered meals, they get an amazing paycheck...

We all pay for that.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II

Much of that also comes from our corrupt campaign finances system which the SCOTUS has made even more corrupt but that's ignoring the point. Why not close these loopholes, benefits and subsidies for those who don't need them so we don't cut as much from programs that actually help people and create more productive working and middle classes? The only reason is ideological. And that's pretty weak if you claim to be serious about cutting trillions from our debt while also serving this country.