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SikUvTheRite's Blog

by SikUvTheRite from Crestwood, MO

Last Post 79 days, 1 hour Ago


So Much for the Tax Cut Theory
Mar 14, 2008 | 1:11 PM
Category: Political
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Well, the market is tanking again, today.

It even went under the magical 1200 mark today, which if I remember my rules about market movement from my Series 7 exam (anybody else know the "Head and Shoulders" pattern of market change?), going below that mark will set a pyschological trend in motion, and we may see a prolonged dip now.

So much for Bush's tax cuts for the wealthy!  I guess not enough money trickled down to us little people!

Also today, though, the Feds announced a bailout of another private investment group (Beare Stearns).  Funny how the government under Republicans always has PLENTY of money to bail out the rich when they make poor investment decisions, but the working man and woman is always told "we have no money".  Or my personal favorite (heard on these very blogs) the "...people just bought more home than they could afford - too bad for them!"

Well Beare Stearns made an investment they couldn't afford - too bad for them, eh?

We shouldn't be giving money to them to bail them out - they took a risk (part of legitimate capitalism) and lost.  Oh, well.  They certainly would have kept the cash if they won and profitted!

We should instead be bailing out people who have high debt due to medical bills, ridiculous property taxes, or rip-off mortgages.

For those of you who still support Bush, or think McCain is your man, you'd better check your IRA and 401K today, and give some thought to this:  If you actually WORK for a living, whose agenda will make your retirement investment more prosperous - the "tax and spend" Democrat, or the "tax break for the rich-and-spend on the rich" Republican?

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Member Comments Total Comments: 21
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bubba-right-wing read my blog view my photos
Mar 14, 2008 | 3:14 PM

You sound a little worried. I think it might have more to do with my boy John, now having a chance for the win. Do not worry, I know things have gotten horrible since the mid-term elections but the sky is not falling, and no matter who wins in November there will still be plenty of money for more handouts for non-workers. The non-workers may even get free healthcare next year, so maybe that thought will cheer you up. VOTE REPUBLICAN
devas_yb_ecarg read my blog view my photos
Mar 15, 2008 | 12:42 AM

I am with you bubba...besides who control congress it is the democrats..President alone cant control everything without the backing of congress..Vote Republican..
jsage read my blog
Mar 15, 2008 | 9:44 AM

When did the market start to go south? ANS. When the Democrats took control of the House. Which Busch tax cut is only for the rich? Ans. NONE.
kdubken read my blog view my photos
Mar 15, 2008 | 12:50 PM

Since the accross the board Bush tax cuts the American economy has recovered from recession,gone through boom times. Were it not for the Democratics threat to raise taxes we would still be in boom times.The absolute worst thing that can happen to a growing economy is the presumption that we are returning to a tax and spend policy.
rhrealestate read my blog
Mar 15, 2008 | 1:40 PM

The election will tell the story on how much more corruption we will be facing this coming year.
jimbobbob read my blog
Mar 15, 2008 | 3:54 PM

Sik

The first problem with your theory, is the fact that the Bush tax cuts applied only to the wealthy. The middle class and poorest received the largest portion of the cuts. Please read my blog on the Hillary Tax Plan, it gives actual data proving my point. Hillary is proposing to retain middle/lower income tax cuts, better known as the Bush tax cuts. I know that the Democratic candidates are allowed to call it a tax cut for the rich, after all it is the liberal media allowing them to get away with it.

There are 2 questions you need to ask yourself! According to liberals Bill Clinton never gave a tax cut to the wealthy, but there was a recession at the end of his second term. Why?
Jimmy Carter did not cut taxes on the wealthy, in fact he raised taxes, why was there an economic malaise in the late 70's?
jimbobbob read my blog
Mar 15, 2008 | 4:00 PM

The Hillary Tax lan

Please look at Hillary Clinton's website, and this is what she lists as her top priority for "strengthening the middle class."

Lower taxes for middle class families by: extending the middle class tax cuts including child tax credit and marriage penalty relief, offering new tax cuts for healthcare, college and retirement, and expanding the [earned income tax credit] and the child care tax credit.

Those tax cuts she is talking about are, of course, the Bush tax cuts. Yet a bit later on the same Web page, she talks about Bush's "fiscal irresponsibility," implying that the Bush tax cuts were fiscally irresponsible.
SikUvTheRite read my blog
Mar 15, 2008 | 4:10 PM

You Republicans are showing signs of classic denial!

The economy and markets started to tank almost to the day the Republicans took control of our country. I know, because I bought a house when Bill was president and took possession after Bush was in office (in January). It makes it easy to see how things started sliding just after I got into my new home.

Of course, that also depends on which "economy" you're talking about. Of coures the rich are propering! At rates never before seen in history! And the leeches who latch onto the rich and feed their addiction are doing very well, usually for doing no actual work that produces anything of value (hedge fund managers, investment agents, etc.) Sure, those who manipulate money and lie and cheat are doing GREAT these last seven years.

It is the WORKING American who is suffering and losing gound every day since Jan, 2001.

This slide started long before the mid-terms, and to say the Dems "control" Congress is nothing short of ridiculous. Republicans, holding a 48% minority with Bush ready with his veto pen ready, are still FIRMLY in control, make no mistake about it.

But, as we all know, that IS about the change in less than a year, isn't it?

Or is that another reality you'd rather deny?
stinkabinka read my blog
Mar 15, 2008 | 9:04 PM

vote republican. this country needs four more years of republican leadership. i will vote for whomever gets the democratic nomination
jimbobbob read my blog
Mar 15, 2008 | 10:05 PM

"Of coures the rich are propering! At rates never before seen in history! And the leeches who latch onto the rich and feed their addiction are doing very well, usually for doing no actual work that produces anything of value (hedge fund managers, investment agents, etc.) Sure, those who manipulate money and lie and cheat are doing GREAT these last seven years"

I am not rich and I did not leach off the rich. I work hard and produce results, and I do not work in finance. None of this applies to me, and I did good financially under Bush.

Jimmy Carter did everything economically, that you are dreaming about in the future, and yet there was an economic malaise, that had not been seen since the depression. If liberal economics is the answer, why did it not work during the Carter Administration.
jsage read my blog
Mar 16, 2008 | 11:19 AM

Sik since you have no facts you use name calling.The Bush tax cuts lowered the percent paid in every bracket by the same amount. What is wrong with that? Lowered the percent paid on capital gains. That effected 75% of the working people in the US. What is wrong with that? Setup so you can keep the money you make on the sale of a home up to $500,000 That helped the working person. What part of the cuts where put in to only help the so called rich? Use facts no name calling
SikUvTheRite read my blog
Mar 17, 2008 | 2:43 PM

Okay, jsage, how about I use some facts AND some name calling...

George Bush is a liar.

There. Now that's calling him a name, but it is also based on a fact! LOL

And speaking of tax cuts for the rich, what is the capital gains tax rate this year (FY 2007) for millions and billions in profits?

Go look it up. It's on the front page of your Tax package (well, assuming you Republicans even get one - maybe you're exempt from taxes for inheriting too much or something)

Gee, most Americans have millions and billions in capital gains, don't they? Gee, then why do most Americans pay more tax on their median incomes of $45,000 than the rich do on their millions and billions? Hmmmmm, I wonder....

Them's some facts for ya!
jsage read my blog
Mar 17, 2008 | 3:23 PM

Sik What did Bush lie about? The capitol gains tax rate is 15%. That lower rate has helped 75% of the people in the US.The rate on earned income is higher the more you earn. So who pay's more the person making $200,000 or the person making $45,000?
jimbobbob read my blog
Mar 17, 2008 | 8:36 PM

I think Sik attended the socialist school of brain-washing. Lost cause!
jsage read my blog
Mar 19, 2008 | 9:33 AM

Obama now say's that he would keep in place the tax cuts on capitol gains and dividends if the economy worsens. Must be something to the Cuts.
PSylvester20 read my blog
Mar 21, 2008 | 1:47 PM

In theory, the rich are supposed to pay more taxes. The problem is all of the loopholes and tax shelters available. If we elimated them, we could give everyone a tax cut (yes, even the rich) and still generate revenue.
imapayne read my blog view my photos
Apr 1, 2008 | 12:28 PM

SikOfTheRite, Fox should be talking to you today about the truckers crisis.
dawgma08 read my blog
Apr 3, 2008 | 9:20 PM

Love your views, dude! You posted a huge novel on my Wal-Mart topic, thanks! You might like this group I'm in...

http://groups.yahoo.com/group/the_group_about_nothing/<
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Lots of political discussions and things in life in general, like your topic here you just made.

PluS, just so you know this isn't spam, that group isn't MY group. ;^)

Peace.
dawgma08 read my blog
Apr 3, 2008 | 9:21 PM

Love your views, dude! You posted a huge novel on my Wal-Mart topic, thanks! You might like this group I'm in...

http://groups.yahoo.com/group/the_group_about_nothingr>
Lots of political discussions and things in life in general, like your topic here you just made.

PluS, just so you know this isn't spam, that group isn't MY group. ;^)

Peace.
meatheadxr7 read my blog
Apr 24, 2008 | 10:40 PM

THIS IS TURNING INTO A SORRY ASS COUNTRY
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SikUvTheRite

Sick of the extreme right wing profiteers commandeering this country putting profits ahead of people. I'm old enough to remember when the government represented the people, not just the wealthiest of the wealthy. But that doesn't mean I don't love my two cute little Fox Terriers and all doggies! But we all need to have some fun every now and then, in the face of a continuing and harrowing threat from the extremists and fanatics to take our freedom and our money as they force their agenda on all of us. We need to take our country back, and we can have fun doing it! Life under Obama will just be more fun - no more hangups about prayer in schools or burning flags, we'll just get on with life! Here's hoping we don't make yet another four year mistake - More of the Same Pain McCain, or Obama, we'll choose, and live with the decision for four more years. I think the choice is clear, don't you?

Member Since: 2/8/2007