“There’s no pain-free cure for recession”
Unfortunately, “Suck It Up” is not a winning message in Washington.
Posted in: Subprime crisis
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Well there’s more than a few buddy. And it’s not ‘largely’ marginalized- it’s COMPLETELY marginalized.
Welcome to inflation. Carter II.
I HOPE for some CHANGE left, in my pocket.
I’m not broke…I have a box of blank checks right here.
Actually, there is a pain-free cure for the resession. Well pain-free for the taxpayer; pain-FULL for politicians.
A two-year moritorium on taxes on investments. I know it’s actually speculation, but we all know stocks, bond, mutual funds, etc., as investments. This means you can make all the profit you like on investments and incur no tax. The stock market would start recovery in a few weeks. Even people that fear the stock market would buy because there’s no tax penalty.
Starting in the 3rd year, taxes slowly get ramped up until they are at the previous levels. That could take 5 years. Nice and slow so everyone can figure out their tax liability.
This won’t happen because the socailists don’t want the world to see that cutting taxes is good for an economy.
The other alternative is to just pass the FairTax.
Either way, intelligence and freedom wins and liberal socialism loses.
Define investments though, the distortion in the housing market was accelerated by huge taxbreaks after living in the property 2 years. And, what about CDO’s and other mumbo-jumbo ?
Governments cannot create but merely redirect. When the government spends, the money has to come from somewhere.
(E)ach additional dollar printed diminishes the value those already in circulation. Something cannot be effortlessly created from nothing.
(A)ny jobs or other economic activity created by public-sector expansion merely comes at the expense of jobs lost in the private sector.
Harvard needs to retract Bush’s MBA.
Obummer needs to earn one.
That’s the problem with the socialist income tax. Everything has to be defined, measured, listed, etc. to see where it fits into the tax structure.
That’s why I also said to just pass the FairTax. It will do that same thing while getting rid of the income tax and the socialist class warfare that goes with it.
Gold is looking better and better the more I read. This “stimulus” plan will pass, create a small bounce back for a while, followed by an even bigger crash once the bills come due. Nobody ever borrowed thier way out of debt.
GASP!!! There is an adult out there somewhere?
OT but I had to post it
http://thehill.com/leading-the-news/pelosi-reelected-speaker-
unanimously-backed-by-dems-2009-01-06.html
nlebou: I am truely shocked….
sarcam mode off…
Oops! There went lunch.
Personal responsibility for Republicans:
After 8 years of exploding the deficit for political gain, you’re lost your moral authority to complain about deficit spending. There was a time to put up. Now is the time to shut up.
In fairness, some conservatives complained about Republican fiscal recklessness while it was ongoing. The Wall Street Journal was not one them.
Sorry….here is the link again.
lgm, It is your messiah, obama the fraud, who is planning on outstripping bushes spending spree which most of us here disagreed with. In fact he plans to spend more in the first MONTH of his
eraerror than the entire Iraq and Afgani wars combined. Obama could have keep his word and balanced the books but is now backing out on that promise.lgm,
I’ve been bothered about Bush’s deficit spending from the start, but I didn’t expect anything better from Albore or John VotedForItBeforeIVotedAgainstIt Kerry.
Under Bush and a Republican Congress, inflation has remained fairly steady at around/under 3%, even with the deficits. Last year, under the Pelosi/Reid magisterium, it had increased to almost 6%, and the deficit has passed $1 trillion. Where it will go over the next few years with them printing money by the ton is anybody’s guess, but 20-30% inflation in the near future is not out of the question. You want more government spending? You got it, Toyota. Government entitlements like Social Security, civilian employee pensions and military retirement are all inflation adjusted, and the quicker they go up, the faster the “trust fund” goes negative.
Personal responsibility for democrats (socialists).
Oh, wait! That’s an oxymoron. Never mind.
William Jefferson – bribery.
Alcee Hastings – bribery.
Ted Kennedy – murder.
Al Franken (Air America) – fraud.
Support for slavery.
Keeping blacks from voting.
Blocking civil rights legislation.
Yeah. Those democrats sure know how to apologize for their crimes.
Maybe the clinonistas will bring the budget back into balance? Janet Reno for Sec. of Defense would scare the stuffing out of Hamas etc…She knows a thing or two about killing innocent civilians.
Oops, sarcasm off again…
If there is hell to pay, then pay it and be done with it. It will surely be cheaper than what they are doing now, and there wouldn’t be any interest to pay by our children. WE should bear the pain of our own excesses.
C’mon, lgm. What “political gain” did anyone, Bush and Republicans in particular, get from the deficit, the majority of which is due to the war?
Will Obama be getting political gain for exceeding the excesses being perpetrated by Bush and the liberal Congress? If he were anything like the messiah you think he is, he would do the right thing and let some of these businesses and banks go bankrupt.
I won’t hold my breath. The depth of his economic ignorance is only equalled by the rest of the Washington bunch, and if you are at all honest, you will admit as much.
And the past two years of Democrat control of Congress have been models of economic reform and commonsense? Yeah, Dodd and Frank are the epitome of selflessness, character and economic acumen.
And the “most honest Congress in history?”
Don’t make me laugh.
Perfect article from Peter Schiff – A guy who has been so right for so long. Here’s a fun fact: Mr. Schiff was an economic adviser for a presidential candidate during the last election – that’s right it was Ron Paul. Regarding Mr. Schiff, he’s turned into quite the youtube hero as well. Here are some of his most viewed videos (compiled by some anonymous person).
Video
Video
I think it’s also very important to understand that there really is no difference between Democrats and Republicans anymore. It’s nice to finally be able to bash on a Democratic president for their Keynesian view of economic policy, it’s just tough to do it when the Republican president currently is basically having a Keynesian orgasm at the money printing press.
We will have inflation, if not hyperinflation in the coming years. However it is important to understand that that inflation was caused by Alan Greenspan to “painlessly” get through the recession in 2001. With Comrade Bernake now pumping out trillions by the truckload, we’re going to see the effects manifest during the Obama presidency – which is a good thing for conservatives. However, if we look at this objectively, I think we can only come to one conclusion:
Obama = Bush
Dimsdale said (#22):
Well, the war itself was still popular in 2004, the last time political gain meant anything to Bush. Then there are the ever popular tax cuts. Oh, and don’t forget the drug benefit.
LGM, you didn’t comment on obamas 1 trillion dollar spending spree…
Yes. Adopting liberal policies does have its cost. The problem with ‘W’ is that he thought of himself as a compassionate conservative (i.e., RINO a.k.a liberal-lite).
The (R) means, and has meant, less and less to those who bear it. And that won’t change because the RNC is in rebranding mode which means that they are going to continue trying to our liberal liberals. It should be interesting to watch … if weren’t so damn costly.
Oh, and your suggestion that we shut up is funny considering you all never afforded us that luxury. Turnabout is fair play. Deal with it.
I find it ironic that after all of the years the Democrats have whined about “Corporate Welfare”, they’re now all so ready to lavish “Welfare” on Corporations.
Can you say “hypocrites”? I knew you could.
Not only that, they bashed Bush for tax cuts during the 01 recession, and now they want to reduce taxes.
And all we’re going to hear is how the current situation was handed to them, yet they blamed the previous recession AND 9/11 on Bush because he was “at the helm” when it happened.
Classic liberal hypocrisy.
So let’s see: four years ago, Bush cared about political gain. Is it better or worse (for him) that he decided to put political gain aside? As for the “ever popular tax cuts,” it is only you liberals that despise it. The ludicrous but oft repeated (by the liberal media and Democrats) lie that it was a “tax cut for the rich” is only true if you completely ignore the inconvenient fact that the “rich” pay most of the taxes. Of course they are going to get more back!! You are a mathematician, right?
I am not sure what the drug benefit is about. Poppies in Afghanistan? Is that it? Are you erroneously implying that this is something Bush wanted?
Much like the tax cut lie, if the improvements in Iraq were reported fairly and accurately, it, too, might be popular.
Rise above the propaganda. You are a smart guy. Let’s see it.
EXACTLY
the BUSH-OBAMA road to prosperity, home edition:
Get as many loans as possible, spend it all on your pleasure, max out your credit cards…then when the bills come due, send monopoly money to pay it off!! and let the government, US or chinese, bail you out!!
simple…works every time, and its fun for a while!!!
it was a good article, he was wrong about one thing though…
the government can STOP DOING THE THINGS THAT CAUSED THE MARKET TO BREAK!! like repeal CRA and SOX…elminate all business taxes, and the capital gains tax.
implement a flat tax for EVERYONE…and elminate the departments of education, agriculture, energy, and commerce.
privatize social security and medicare.
it just takes guts, which we are sorely lacking…
instead, we get to enjoy the ‘blessings’ of inflation and worthless money!!
hang on its gonna be a wild ride…
If you have the binge, you will have the hangover.
If you can’t handle the hangover, keep drinking. The drawback of course being that eventually you will die of, well, any number of things, your brain being the first organ to go.
All analogies are suspect of course, but this one is about as solid as it gets. It’s the government that needs Prohibition.
Are you sure we aren’t in a depression?
No, the two parties remind me of a few science fiction shows:
1) Babylon 5: The Draazy, (an alien race), choose the leader of their civilization by requiring every citizen to pick either a purple or green scarf out of a barrel at random and warring between the two sides until one is victorious. The leader of the winning color becomes their new ruler.
2) Red Dwarf: The descendants of Kat, (a human-like character which descended from a pregnant cat which Lister smuggled aboard ship), fought a holy war about whether their hats should be red or blue. Kat and an old man/cat were the only survivors. (Scene starts at 6:54)
Well, they blame Bush for making them do it. That counts for something, doesn’t it?
We need to bring back ideas like “Make do”. It worked for Abe Lincoln. Instead of “Spreading the wealth”, we need to “Spread the responsibility.” If you are on food stamps, then use those food stamps responsibly, and at first opportunity take the responsibility to get off of them.
If you are running a company, then make sure your company only receives what the marketpace allows responsibly. That means honor your contracts and produce things that work.
Don’t send lobeyist to DC to grant you special benefits.
If you want to help the environment, then pick up litter, don’t waste water and live within your means. Don’t concoct phoney science to justify your own world view. That is irresponsible.
<blockquote>“There’s no pain-free cure for recession”By Michelle Malkin • January 6, 2009 03:18 PM
Yes there is. It’s called “Cut the federal budget in half and enforce a balanced budget.” And while we’re at it, start prosecuting the Congressional plotters and their Wall Street accomplices. I bet the NSA can get the goods on them in a matter of weeks.