Wednesday, September 8, 2010
News Morning Newsdome: Obama cutting Bush-era tax cuts for the wealthy
Posted by Bobby Feingold @senorbobby on Wed, Sep 8, 2010 at 10:58 AM
- Joeff Davis
>> You know how some men are all aggressive in their youth, but as they age and their testosterone levels lessen, they start to soften up and even have some wisdom to impart? "Grandfather of global anti-Americanism" Fidel Castro invited American journalist Jeffrey Goldberg to Havana after reading his article in The Atlantic on Iran and Israel. Castro wants to tell Iranian President Mahmoud Ahmadinejad that he needs to stop his anti-Semitic rhetoric and that Jews have suffered enough throughout history. And just in time for Rosh Hashana. (the Atlantic)
>> And with Castro's thoughtful remarks, an asteroid buzzed by Earth this morning with another later today, both closer to Earth than the moon. (CNN)
>> Sri Lanka's parliament passed a constitutional amendment today granting its president even more unchecked power. I smell a dictator. (Reuters)
>> And finally: BP released a 193-page report today blaming "multiple companies and work teams" like Transocean, which owned the rig, and Halliburton, which did the well's cement work, for the Gulf explosion. But aren't all disasters a string of failures? That's why owners like BP are responsible for oversight. (the New York Times)
Comments (9)
Showing 1-9 of 9
Run for the hills! It'll be just like the 1950's, when the federal marginal upper income tax rate was 91%. Remember? The economy stunk, prosperity waned, investment shriveled, businesses closed, millionaires numbered less than 10 (and they were all politicians), and America turned into a total shithole.
Of course, I just made that stuff up. I really just like stating the opposite of truth from time to time, mostly because my Junior Reaganite Society/Tea Party Hardy! meetings are suffering from poor attendance.
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I wish we would stop all remaining government stimulus plans and not raise taxes on anyone. I think it is wrong to ask Nad to chip in a little extra, even if he is willing, to pay for inefficient programs that are in actuality only created to get votes for Democrats and pay off inefficeint Unions that should have already folded if left to their own devices without taxpayer funds to prop them up.
I believe all Americans will pay for these failed economic policies for years to come.
But on the bright side maybe these are all just teachable moments.
"Cutting tax cuts." Wow, that's the kind of wordsmithy that'll score you a gig with the O-team. It's called raising taxes, not cutting anything.
Seems to me the middle class has been getting screwed for sometime now, I kind a like finally having a president whose willing to pander to me since I'm solidly in the middle class. Is that bad? I'm still willing to give a tip of the hat to those more successful than me, I just believe in what is apparently an antiquated notion that tax rates should be progressive. I know I know totally socialist of me. But with the move to reliance on sales taxes and sin taxes it seems we've moved away from that antiquated notion, so a step back to it works for me.
Hey fencepostmender, the list is long but here are a few:
"Dance Draw" - Interactive Dance Software Development (Charlotte, NC) - $762,372
Abandoned Train Station Converted Into Museum (Glassboro, NJ) - $1.2 million
Forest Service to Replace Windows in Visitor Center
Closed in 2007 (Amboy, WA) - $554,763
North Shore Connector to Professional Sports Stadiums,
Casino (Pittsburgh, PA) - $62 million
Don't forget the signs.
"Funded by The American Reinvestment and Recovery Act" and "Putting America Back to Work."
ABC News has reached out to a number of states about spending on stimulus signs and learned the state of Illinois has spent $650,000 on about 950 signs and Pennsylvania has spent $157,000 on 70 signs. This is just busy work for state employees to give them some work to do.
A lot of these projects look aimed at Unions to give them work to do which I think is wrong. I think Unions today are bad for business and to fix them they need less preferential treatment not more.
I know that you may see this completely different and it just boils down to different schools of thought. I think the amount of Government we need is as little as possible, and others think more is better.
Congressional term Limits would be a good idea as well.
Pete, if the object is to scale back everyone's tax burden, let's make a real dent:
Give me your thoughts on retooling, trimming waste from and maximizing the dollar-for-dollar efficiency of the government's #1 taxpayer-funded program. You know, the one that 50 cents of every American tax dollar pays for.
Where do we start?
That is a good one Nad - I must admit just thinking about scaling back, cutting back or making cheaper our Military just made me look like a deer in headlights for sure!
Lockheed cut 10,000 heads since the beginning of last year some voluntary others not.
Boeing cut 1,700 jobs in military business as part of a reduction of 10,000 jobs across the company.
Northrop said it will lay off 642 workers by the end of the year and by 2013 plans to cut another 4,700 people but will shift some work to Pascagoula.
I think our Military is too top heavy we have more Admirals than Ships and endless layers of beurocracy.
I would be interested to see what would happen if we took a top Business Leader in America and put them in charge of the Military to examine the chains of command and processes currently used for a different perspective to cut costs and improve efficiency.
I would be ok with closing some bases around the world and using some troops on our borders to keep us safe.
What would you do Nad?
Our Social Programs are vast as well. I think we should restructure entitlement plans somehow also. I know you hate my links but this was a good one Nad.
http://www.nytimes.com/interactive/2010/02…
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