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When the economy crashed, as Obama took office, it was not an event that happened because he took office, it took years and a lot of bad deals to make it happen, 11 trillion dollars disappeared from the economy, when people lost money in 401-k plans savings interest, by house , and building values dropping the money went to someone 11 trillion dollars overnight, we can and should declare a national emergency and force all the corporations, banks, oil companies, tech companies fast foods, to pay in cash money to reduce the debt by at least half, all millionaires should pay at least fifty thousand,, lower income should pay to on a sliding scale, the debt could come down in a month to around 7 trillion, and with the cuts in waste and spending, the two wars ending it would not take long to be debt free in this country, why struggle for twenty years with this? get it done and move on!!!
Look at apple they are sitting on 100 billion dollars in cash, they could easily pay ten billion, WALL mart, McDonalds version, etc. thousand of companies and banks oil companies are sitting on piles of cash they should help the country these problems could be over in a month!!!
The reason we are in so much debt is because the politicians can't take ressponsibility. They make a decision and then blame someone else when it doesn't work out. Bush started these unnessary wars, and then had the nerve to say It wasn't my fault, cuz I got wrong information. When you become president your decision affects the entire world and you should be able to own up to it.
Bush isn't the only one either. Don't get me started on Obama. Obama blames everything on Bush and all those Obama defenders do too. Well, Bush may have put us in it. That's granted, but Obama has to take responsibility for his OWN actions. It was HIS decision to extend the bush tax cuts. It was HIS decision to loan out all that money to Ford, GM, and Chrysler. I get so sick of everyone talking about how he inherited this debt. It was HIS decision to spend $884 billion dollars not counting the $905 billion dollars in tax cuts.
If you really want to compare Bush to Obama compare this 11.5 trillion dollars in in 8 years vs 1,789,000,000,000 and counting in 4 years! What do the Obama supporters have to say now? and why didn't Florida with a 9.9 % unemployment rate, who are constantly laying off teachers, figherfighters, and policemen not make that list? Rick Scott ain't helping matters.
I live in Nevada and it is not a Blue State as one comment states. We are a swing state that voted for Republican Governors for the past 12 years or so. In the last election the state did vote for Obama, but he does not write checks in Nevada, the hardest hit state in the country. The Governors of Nevada and the Nevada Legislature are responsible for the mess we are in and they are Republicans.
Wow, it's the same states I wouldn't live in on a bet!! What a coincidence!
50% don't pay taxes? Nice right wing talking point. But you might need to qualify that statement to federal income tax. They do pay Social Security, did you know that after $110,000 you no longer pay that tax. They pay state, sales, excise, property, tax on gas, tax on phone and media services, hotel tax, toll roads, so please retire that tired old piece of spin@Cynical Talk about spin. Payroll taxes (medicare and SS) are actually a "retirement savings" vehicle and "medical insurance" for each American, not a tax. Mainly because people cannot be trusted to save for themselves. People pay in, and then "qualify" for benefits at retirement BECAUSE they paid in.
Funny, the lower 50% actually don't pay federal TAXES which provide for them more than anyone else. In fact, most of them pay less than zero, and we actually pay them to pay NOTHING to live in this great country. How is that "fairness"? So, in the eyes of the left, fair is when someone else pays 100% and they some of you pay nada? How is that doing your "fair share"?
As to the $110,000 SS limit, it's not like once you hit that income level you pay nothing. You pay all year long until you hit $110,000, and they we consider that you have paid your share for future SS and medicare benefits. I guess you are one of those who think it would be best to be a fellow citizen's "dependent". They pay all for you and for them, right?
In the year of the lord 2011
The city of San Diego borrowed 100 million
The city of LA borrowed 1 billion
The state of Calif borrowed 7 billion
The feds borrowed 3 trillion
In the year 2012 the feds increased the budget deficit by 1.2 trillion.
By the time the USA defaults we would wipe out 30 trillion in debt.
Pay 17 million people unemployed and low wage earners 600.00 dollars per week tax free, take 28% from the top and give it to all the states every week for two years; let them work w/o penalties, the money they earn would be taxed! this will stabilize the states, and bring the unemployment down, and create tax revenues, the states could hire workers, and do other things needed like roads etc. this will stabilize the country, and create more jobs, force everyone to pay cash to bring the debt down, on a sliding scale from 1.00 to one billion dollars, raise about 8 trillion dollars, then the country can start to plan to be completely debt free within the next ten years!, also give SS another raise, this plan will help Medicare to, and manufacturing will go up,
the people who give can be given tax breaks later to compensate them, then after the debt comes down reform the tax system, broaden the base, and lower taxes for everyone!
two hundred million paying 40,000.00 dollars would raise 8 trillion, if the banks, oil, corp, all paid 1 billion that figure would go down, it would not be that hard to raise 8 trillion dollars, even 6 trillion would work well!!!
AMAZING! You are telling me it's the Liberal Left States that are TAXED the highest and are also the same States that have the biggest budget shortfalls? No way??? Next you will tell me that many of those same States (Calf., Illinois, NY, Mich), are the most politically corrupt States as well? It's Econoimics 101 - You can't base social programs off of revinew projections during the good years of an economic cycle.
I cannot understand why Illinois would be 2nd on the list when we pay ridiculous taxes. I live in a modest house and pay almost $7,000 in property tax. There are thousands upon thousands of high end luxury homes and mansions all around the Chicago-land area so I can only imagine how much is being collected in property taxes on those.
Our emploment tax went up 2%. Sales tax ranges from 7.75% to over 10% if you live in Cook county. We pay taxes on everything including food and clothing. We pay $99 a year in automobile registration fees. We must buy parking passes for $79- $99 a year depending on where you live to have the ability to park your car on public roads. There's the parking boxes, red light cameras, public school book fees and registration fees. The tolls were increased 45% this year. The parking lots at Midway and O'hare are owned by the city of Chicago and fees are $16 per day to $50 per day.
I'm sure I'm leaving some things out here but the point is, with all this money the state and local governments are raking in, why are they so broke? Where is all this money going?
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