United States Heading towards a Depression?

As that video two posts above shows, those with sanity and are adults, will realize what is going on with their lives. It has very little to do with "D" or "R". Both groups receive money from the same people.

 

Affordable housing is an apartment not giving someone with no income a 0% down mortgage. Fannie Mae and Freddie Mac are responsible for $5 trillion in loans and that's not to mention the FHA. Fannie/Freddie are bleeding money at the rate of $25 billion every quarter.

The crsisis is far from over. The banks are repossing 100k homes per month and home prices may fall another 20%

At any moment the banks and the DIJA can take a big hit which adds to the Public Pension crisis. State Governments in California, New York, NJ, Illinois and Michigan already face collapse due to $2 trillion unfunded state pension obligations. What little money the states have is getting sucked up by the hedge funds and investment bankers.

Republican's don't have a majority in the Senate and the President is Barry Obama. There's only so much that they can do.

In any event, the system is going to blow up. I don't see how at some point inflation is going to go out of control when you consider the US has $50 trillion in unfunded entitlement obligations, $13.7 trillion national debt growing at $1.5 trillion a year and commodity prices like corn, wheat, gold, cooper, cotton, rice, oil are going through the roof.

 

Are you blowing smoke or lighting a match?

The answer to the above unfortunately is higher taxes because the tax cuts by the Rs were wasted.....to bad and maybe just the above 250 crowed could pay for it and everyone should support the increase instead of trying to win elections.

The bad numbers are not always precursors for disaster, the old adage that markets climb walls of worry quite often come true and perpetuate recoveries on their own merits. Indubitably inflation will kick in but not soon and to no ones surprise unless the Rs in the house commit national suicide.

 

When are you going to learn ? Those that are above the ( for some reason magical ) $250,000 mark use loopholes. Go see Google's tactics. It is just one example. They pay billions less, while having special relations. The other majority, do not have jobs. Who then is going to pay the higher taxes ?

 

That may be the point in having the 250 crowd's taxes return to their previous level and the next day remove any of their preferential treatments or simply enforce the existing laws. With budgetary compromise including the Defense Dpt. that may suffice in returning the budget to manageable levels.

As a reminder the Democrats balanced the budget and began reducing the deficit then Bush was elected to office.

BSE, the other point is the Rs are responsible for the economic downturn and the 1.3 trillion dollar deficit that everyone is now stuck with and someday the Rs will have to become responsible for their actions or just running the country into the ditch will be mild to the next foreseeable outcome.

 

Return to previous levels.... like the 2006 level of spending before the Democrats took over both houses of congress? Hell, Democrats are unwilling to even return to the 2008 pre-Obama levels of government spending. The message is, everyone else needs to cut back, except the government. State governments like California who continue to operate in this manor face a very uncertain financial future. Other states which are making the necessary cuts will be the first to feel the financial benefits a bit of frugality can lead to.

All that aside, there is no getting away from the massive expansion in the federal budget since 2008 when the Dems took complete control of the US Government. It makes it virtually impossible for them to put the blame anywhere else, unless you are Breeze wood, in which case facts are unimportant.

 

The laws are and were enforced. They are not breaking laws, they are using loopholes in the law. They can not be taken to court, because they are innocent of wrongdoing, under the present system.

They balanced the budget by stealing the money from the Social Security. Did you know that ?

Bull, read this : LINK

Quote : LINK


In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

Get a grip on the facts, Breeze Wood.

 

Oh, wow - this is PRICELESS!!!

My favorite quote:
"Printing money is the last refuge of failed economic empires"

Lets thank God that Pelosi has been removed as speaker for the sake of sanity.

Of course everyone knows there are no adults among the Democrats.

 

I'm in that 250 plus club kiddo.. There's no preferential treatment that I can assure you. I like many other's who are or own small businesses and are S Corps are not rich. We certainly do not fall into any loop holes, and taking from us is not going to solve the governments run away spending addiction.

You might want to check your history too. It was the Republican party that balanced the budget, not democrats prior to Bush. See also 1994 and the Contract with America.

The deficit was on its way down from its all time high in 2004 ($500 billion) and was just shy of $160 billion when Obama was elected. He rant it up to 1.3 Trillion, not the other way around.

Breeze, just cause you say it, does not make it so!

 

The meaningless and unfunded Iraqi war and the Republican recession have at least been stabilized despite the extremist that caused them and the future years of economic hardship shared equally as a minimal price set by the Administration - S corp. or not.

Pelosi achieved monumental legislation worth fighting for and remains at her post unlike Gingrich and Haseret who ran with their money having nothing else to show for their effort.

The tax issue is really a matter of morals than economy.

 

War's don't go unfunded. Wars do not continue without the approval of the Untied States Congress. I suggest you do a little reading on just how our government really works.

Breeze, if you knew what an S Corp was you'd never have used it in that sentence above.

You're way in over your head here. Is it possible you live in an alternate dimension?

I agree. Its morally wrong to punish those who achieve.

 

The opposite is also wrong. It is wrong to reward those who continually fail. More Debt Does Not Equal Lesser Debt.

 

The OMB properly predicted the imbalance of payments causing a substantial rise in the national debt due to the Republican Administrations tax legislation that did not require corresponding reduction in spending, which they then placed a time limit on to skirt the moral responsibility in conducting their business to the dereliction of the nation.

The moral responsibility would now be to bring the nations balance of payments into proper alignment now that the OMB report has proven to be factual in its analysis.

Paying your fair share is what you object to Mia and nothing less. Children expect a free ride till reason and responsibility become the factor in adulthood most people learn to appreciate.

No one is for taxes and something should be done about them.

Who is not an S-Corp. who choses that rout is an idiotic point of view not worth waisting a moments worth of discussion.

 

You really do not know what you are talking about.

Breeze... I pay twice. You really might want to drop out the conversation for a while. You're making more of an ass of yourself than usual.

 

It looks like the breeze man has been smoking more of the garden lately.

 

That and a bit of Lead poisoning.

 

What you need is a new accountant - The S-Corp. is really for someone who incurs losses in their corp. and transfers the losses to the personal account that presumably has gains the losses are used to offset in computing their taxes - otherwise there is no practical difference from a C-Corp.

As you imply you pay taxes twice only makes you definitely a double dipping dumb ass as implied by your Avatar.
............

What is your point Spencer?

 

You walked right into that one didn't you.
You really do not know what you are talking about.
Its the other way around. C-Corp is taxed twice.
It appears as though I pay twice, when in reality its only once.
In an S-Corp the corporation does not pay any income tax. The shareholders bear that burden. I being one, pay income tax on a personal level. Though the reality is, I'm paying both personal an corporate tax. From a novices standpoint, or a complete idiot such as yourself, my 6 figure income looks quite substantial, when in fact its really not.

Like I said, you walked right into that one. You really don't know what you are talking about. You just described an S-Corp as a C-Corp and visa versa.

Stop it, really.. You're killing me here. You've gone from being mildly entertaining to down right irritating. No human can possibly be this dumb.

 

THe $1 trillion dollar carry trade has kept inflation low in the US and exported the inflation to China/

China is experiencing a high inflation rate and producers are hoarding.

http://news.yahoo.com/s/ap/20101123...jb3JkaW9uX2J1c2luZXNzBHNsawNjaGluYWJhbnNob2E-

The massive US government spending is croweding out small business lending. The banks have reduced small business lending in the amount of 300 billion a year and have increased purchases of US treasuries by $350 billion.

The fact of the matter is that Presdent Bill Clinto turned hard to the left after he took office in 1993. It was after the Republican vitory in the 1994 congressional elections that the budget was balanced. House Speaker Gingrich and "the Contract with America" including Welfare reform deserve the credit.

50% of Americans pay no income tax and millions including illegal aliens even receive thousands in tax refunds from the Earned Income Credit.

 

And that's paying their fair share