A 3rd President Bush? First 2 All for It

[chequita guevara]

Originally posted by lord of the mark
Hopefully at least one party will overcome its own extremists.

The Democrats usually do, and that's why they keep putting up such schlubs to run. Cuz they think that moderates would rather vote for a schlub.

[chequita guevara]

Originally posted by Ogie Oglethorpe
In American politics it normally is considered 30% hard left 30% hard right and 40% moderate.

So in reality its probably more like 70% non libruhl.

Actually, in the last poll I saw, only 12% self-identified as liberals, about twice that as conservative, and all the rest as moderates.

Self-identification, however, isn't very acurate, and testing people's beliefs tends to give a much rounder 1/3rd - 1/3rd - 1/3rd distinction.

[Kuciwalker]

Originally posted by Ned
By the way, when McCain was running in 2000, I was a strong supporter of his. I no longer am because of his betrayal of America on the tax cuts.

The Ned we know and love

[snoopy369]

Originally posted by Drake Tungsten

Obama? No, far too green to even consider at this time, but he takes after Hillary in not taking stronger opposition to Bush and recently he said Lieberman was such a swell guy that people should vote for him again.

Obama

He already managed to shoot himself in the foot with the Giannoulias issue ... linking himself to a guy who gave money to the mob, AND possibly exchanging political favors for money. Not exactly the image Obama was previously portraying...

[chequita guevara]

Yeah, screw Obama.

[Ned]

Originally posted by Spiffor

Ah, you mean by giving more money to the people who actually will increase their consumption with the extra money? By directly investing money in sectors essential to the economy? I couldn't agree more

But what does this have to do with the tax cuts of the Bush regime?

The bulk of the cuts went to the people who paid the most tax. Low income people pay almost nothing in income taxes as it is. The middle class and above pay virtually all the income tax and it was they who received the tax cuts.

McCain was opposed to the tax cuts, not because of their structure, but because it would increase the deficits. That is why he is an idiot.

[Ned]

Originally posted by Kuciwalker


The Ned we know and love

Thanks.

BTW, the left protrays mock concern for the deficits. Their real concern is that the tax cuts made the tax system less progressive.

[chequita guevara]

Deficits are only good if you can afford them. At some point, you have to pay them off.

[Ned]

Che, no you don't and you know that.

[Victor Galis]

Bush's economic policies have cost me more money than his precious tax cuts can ever hope to give to me. He'll drive this country into the ground yet.

[Ned]

Cost you money?

I'd like to know how.

Since his tax cuts were passed and went into effect, the economy has had sustained and near record growth. So, how did that hurt you?

[chequita guevara]

Originally posted by Ned
Che, no you don't and you know that.

Yeah, we could default and have a currency crisis. Or we could grow faster than our debt increases. That ain't happening. If it did, the Fed would pt the brakes on to "stop inflation," i.e., keep wages down.

The only other option is to keep our debt to an affordable increase, which we aren't doing. At a certain point, our credit rating will drop, which means we'll have to pay higher interest rates on new debt. When that happens, inflation will start to kick in, and we turn into a banana republic.

[Ned]

The interest rate may change, true, but that depends upon inflation not upon the total debt. The rate of change in the debt vs. the economy can affect inflation. But it is not true that we have to "pay back the debt," just as it is not true that the fed has to pay back holders of its notes otherwise known as dollars.

One man's debt is another man's asset. The holder of the asset may sell it at any time because there is a market for debt, just as there is a market for equities.

Ideally speaking, debt should grow roughly at the rate of the economy, a little less in good times and a little more in bad times.

Reducing debt is not a good idea as it essentially takes the money supply (which consists of debt and tradable equities) and reduces it. This tends to cause deflation, which is not a good thing for growth.