Capital Commerce

Obama: Cut Defense, Raise Taxes

February 22, 2009 RSS Feed Print

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I love it when politicians break out of their traditional policy boxes and do something suprising, novel. Here is how the WaPo describes President Obama's first budgt: "President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said." So ... after consulting economists and businesspeople on the left and the right, after looking for the best ideas he could find no matter what their origin, Obama comes up with the need to raise taxes and cut defense. Ok, then ....

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REVISTED...
We have been down this path before and it wasn't pretty.
There is a lot more at stake this time around.

Larry of CA 10:20AM February 23, 2009

Give away a trillion dollars to banks, etc and cut taxes? Wrong, eventually someone (Taxpayers, Employed people) has to pay. Time to convert paper dollars into gold coins/land/hard assets that will retain value in times of inflation. For those Obama sheep that cannot see it happening, go to the grocery store. We now spend $200/week where is was about $140 three years ago for the same items.

P.T.Barnum Obama of OH 9:37AM February 23, 2009

I can list thousands of ways not just to get rid of deficit but make it surplus... but will anyone listen? I think politicians are in most ways "stubborn".
1. Stop war
2. Watch American Greed TV Show (O dear politicians, i encourage you watch the show, very good though!)
3. Track down more people like Mr. Maddoff.. and send them to the bar... i mean.. behind bar...haha
4. I havent seen many tourists - Why? hmm many people shared to me and my colleagues that to apply for US Visa is either too expensive or too difficult of a process and not even guaranteed for granted.
5. All political contributors - Get more serious about what you can do to the nation instead of expecting the reward out of your contribution.
6. Increase Taxes??? Somewhat agreed. Why? I want the rich to be higher taxed than what most of us make. But somehow we are not mean to sanction them by taxing them in higher bracket... at the end of the day.. please give them a good reward because of their tax contribution. This - You need to speak with bunch of economists.
7. Cut capitalism... Reward notionalism... meaning.. reduce credit easiness and more apply / focus on the cash basis. (Business: Look more on your cash flows and not on the Income Statement..)
8. Corporate America.. Stop acting like you pretend you reward your employees but at the end of the day.. you cut workforce by thousands of people... - Again, that is just so untouch!
9. Deficit - Mr. President, please dont make more deficit!
10. Surplus - yeah.. it's just 10 years ago we had it!

FH of CA 7:55AM February 23, 2009

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