US Debt Ceiling crisis

[donavannj]

They lost $1 billion in tax revenue to save $16 million, so it's a deficit increase that doesn't save the public any due to airlines being able to rely on the fact that most people won't hear about this tax cut or will forget about it very quickly. Seems like a loss for the public and the government, while it's a win for the airlines.

 

[Mr. X]

And like all other companies that have tax breaks, abuse tax loopholes, or take advantage of a tax expiring, they will not use the additional savings and/or increased revenue to create jobs.

Now do you see why im all for removing tax loopholes that multi-million and/or multi-billion dollar corperations?

But then again, most republicans get campaign funds from the above companies so its no suprise that they are all for allowing tax loopholes to remain.

I don't care much for politics, but Locz... Based upon the views i have shown in this thread (and others were we have disagreed), what political party to you think I belong to?

 

[Oryx]

And like all other companies that have tax breaks or abuse tax loopholes, they will not use the additional savings and/or increased revenue to create jobs.

This is the real problem with the tax breaks, and especially the loopholes. In the case of the loopholes, I don't think that the company even feels like that money has to be used to benefit others, because they found the loophole themselves.

The jobs aren't being created now that we're getting out of the recession because the companies learned to live without them. Why would they pay more people to do the job that obviously less people can do? The goal of a company is to make money. It's nice and optimistic and all to believe that if you give a company money, it will eventually benefit the people, but in the end the company will use that money to make more money, not to help people in a way that trickles down.

And the government can't micromanage every big corporation to make sure that they're using their tax breaks in a responsible way that helps the economy, so they just give the breaks and...hope for the social conscience of the CEO to kick in?

 

[Mr. X]

This is the real problem with the tax breaks, and especially the loopholes. In the case of the loopholes, I don't think that the company even feels like that money has to be used to benefit others, because they found the loophole themselves.

Greed. But still... a good number of loopholes are known about yet they are never going to be fixed due to the republicans.

The jobs aren't being created now that we're getting out of the recession because the companies learned to live without them. Why would they pay more people to do the job that obviously less people can do? The goal of a company is to make money. It's nice and optimistic and all to believe that if you give a company money, it will eventually benefit the people, but in the end the company will use that money to make more money, not to help people in a way that trickles down.

Greed plays a part in this. They get used to the additional money, and as long as its profitable to use one person to do the jobs of three or four it will remain that way. That said, its also more profitable to send jobs to other countries where people will do the work for a LOT less. Do these savings that the company makes get passed on to the consumers? No. Will the government ever do anything to prevent this from happening? Doubt it. Illegals jump boarder and do work cheap, thats why some orginizations are agenst better boarder control. That said, some illegals are actully jumping to boarder back to mexico due to how bad things have gotten.

And the government can't micromanage every big corporation to make sure that they're using their tax breaks in a responsible way that helps the economy, so they just give the breaks and...hope for the social conscience of the CEO to kick in?[\QUOTE]

Its a requirement that any CEO lack a social conscience... Remember, their goal isn't to help the people, their goal is to make as much money for their corperation as possiable.

To end this, under Clinton we had budget surpluses. They vanished with Bush. We would have been having surpluses under Obama but he's been worrying about fixing the messes that Bush left him... and the fact that the republicans will attempt to stop anything he tries to do unless he only agrees to things that they want... No matter how good his idea's are, or how bad the repbulican idea's are. Checks and ballances... Great theory, but its failing since each side hates each others guts.

 

[Livewire]

S&P downgraded the US' credit rating in the days after the debt ceiling was passed, great. And with that, the DOW fell 600 points yesterday. Eveeeen better.

So, John Boehner, where's that economic fix you've been promising?

 

[Netto Azure]

I'm not really one to trust the Credit Rating agencies for nothing. Toxic Derivatives was given AAA+ ratings along with Lehman Brothers days before that house of cards fell down. >.>

Still IMO S&P is just using it's clout to lobby for policies that are quite unpopular according to polling. :U

And jeez that 600 point drop in the Stock Markets is pretty close to the drop back when the Bank Bailout bill was shot down. Maybe it's a good thing Congress is in recess ATM. :/

 

[Livewire]

I'm not really one to trust the Credit Rating agencies for nothing. Toxic Derivatives was given AAA+ ratings along with Lehman Brothers days before that house of cards fell down. >.>

Still IMO S&P is just using it's clout to lobby for policies that are quite unpopular according to polling. :U

And jeez that 600 point drop in the Stock Markets is pretty close to the drop back when the Bank Bailout bill was shot down. Maybe it's a good thing Congress is in recess ATM. :/

There was rumor floating around on MSNBC that Obama may have to recall Congress from its recess, but I'm wondering what good that would do.

 

[Mr. X]

Nothing. Both sides would just start bit... um, bickering at each other and even if they do accomplish something it would be to late anyway.

And people wonder why I like communism. I'll just say it here and now. Under communism, stuff gets done. Might not be the right thing, might not be the best thing, but still stuff gets done. Which is a lot more then can be said about our government. And before you say anything about giving up our rights, remember how many we have already given up for our safety and what good ol Ben Franklin said about that.

 

[Netto Azure]

There was rumor floating around on MSNBC that Obama may have to recall Congress from its recess, but I'm wondering what good that would do.

What Mr. X said.

If this Congress stretched the Debt Ceiling vote until the last minute and the Tea Partiers killing the so-called Grand Compromise a week before that. It's no use calling Congress into session.

The only thing that can end the so called uncertainty is if one party controls both houses of Congress and the White House by the end of the 2012 elections. At least then you'll have an idea of what the heck is going to happen.

 

[Livewire]

Nothing. Both sides would just start bit... um, bickering at each other and even if they do accomplish something it would be to late anyway.

And people wonder why I like communism. I'll just say it here and now. Under communism, stuff gets done. Might not be the right thing, might not be the best thing, but still stuff gets done. Which is a lot more then can be said about our government. And before you say anything about giving up our rights, remember how many we have already given up for our safety and what good ol Ben Franklin said about that.

Maybe if our 2 party system wasn't as heavily flawed as it is, things could get done in a more orderly fashion. the only way to get things done effectively is with a supermajority. So in essence, you need to totalitarian aspect of it.

Also dropping off the little tidbit that Congress just had the worst approval rating of all time, following last weeks events. An 82% Disapproval rating.