Quote:
Originally Posted by spence
Many economists believe the Stimulus package saved the economy from sliding into a depression. If that had happened corporate profits would not have recovered like they have.
As part of this Obama has kept taxes on the middle class down to encourage demand.
You're missing the point. The dramatic increase in corporate profits is matched by the widening wealth gap. As much as wealth is being created at the top it's also being sucked from the middle.
What we've witnessed is that this isn't sustainable and has resulted in increased debt and financial instability.
As a lover of facts I'd think you would have appreciated those. I put them in BOLD so you'd notice.
Okkkkay  
-spence |
"]Many economists believe the Stimulus package saved the economy from sliding into a depression"
And just as many economists say it was a waste. We cannot know what would have happened if things were different, which is why Obama likes to take this approach. Here's what we know for a fact. The stimulus was $750 billion that, according to Obama, would keep unemployment below 8%. He was spectacularly wrong on that. Off by millions of jobs.
"As part of this Obama has kept taxes on the middle class down to encourage demand. "
He KEPT them low. Do you know why they were low in the first place? They are low in the first place because of Bush, and I bet you never gave Bush credit for that. If Obama didn't add trillions to the debt, he could have lowered taxes on the middle class by much more.
"As much as wealth is being created at the top it's also being sucked from the middle."
WRONG, WRONG, WRONG, and this comment highlights your total ignorance on this issue. WEALTH IS NOT FINITE, IT'S NOT LIKE A PIZZA. If Bill Gates earns another million today, and he will, that does not mean there's a million less for the rest of us. I keep posting that, it's irrefutably true, but you keep your fingers in your stupid ears because it makes Obama look like the liar he is. God, you're ignorant. And I don't mean run-of-the-mill ignorant. I mean once-in-a-generation ignorant.
Spence, when cavemen were around, GDP was zero. Now it's a lot more than zero. Wealth is not a zero-sum game. Wealthy people are not hurting the rest of us, in fact, they are a godsend. They pay tons of taxes, they give tons to charity, and they create lots of jobs. Those facts may not serve your dishonest, stupid, hateful, warped, insipid, kool aid-drinking, hippie, moronic, Maoist, Bolshevik, misinformed, blame-everyone-else, gimme-gimme-gimme, juvenile, commie, lazy, pathetic, jealous, Occupy Wall Street, unrealistic, lefty narrative. But they are still the facts. Get the hell out of the way so the adults can talk, please!
In every economic system, there are unfortunately folks who fall through the cracks. There are bad wealthy people, just like there are bad poor people and bad middle class people. But the fact that some are wealthy is NOT THE REASON that others are poor. That would only be true, it COULD ONLY BE TRUE, if wealth were finite. It is not.
The class warfare argument has no validity whatsoever. It is a desperate ploy by a desperate, inept Obama who himself admitted that, despite the fact that his party controlled the entore government from 2008-2010, that the country is worse off now than the day he took office. Obama himself admitted this. Yet he takes zero responsibility for it, even though the Democrats controlled the legislature from 2006-2010. It's all someone else's fault. If only we could increase tax rates on billionaires by 5 cents a year, we'd all be driving Bentleys, according to Obama. If those mean conservatives would only allow it to happen!
If it is obtained honestly, wealth is good. And more is better than less.