Cramer, after all this time you’re starting to finally wake up to what is going on.

Most of us are hoping that the left just pay the taxes they owe!

Yoda002 said:
Cramer, after all this time you’re starting to finally wake up to what is going on.

For your information, Cramer has always been a Democrat. That said, he started losing confidence with Obama around the time of the stimulus. There is a reasonable chance he will cross party lines and vote Republican next year.

By the way, there is nothing preventing Jim Cramer (or Chris Matthews) from putting their money where their mouth is, and sending their “excess cash” to the sinkhole…excuse me, to the FEDERAL GOVERNMENT. They don’t need to force everyone else to flush their hard-earned cash down the hole in the process. And if they feel so strongly about this, and aren’t just posturing, they can pull out their checkbook on TV tonight and show us how its done.

Of course, writing a check to the FEDERAL GOVERNMENT isn’t much different from sending money to BERNIE MADOFF. Both follow a similar method of accounting, and have roughly the same degree of credibility on financial matters. In fact, Madoff is a piker at constructing Ponzi schemes compared to the Democrats who built the Social Security system.

felixw said:
For your information, Cramer has always been a Democrat. That said, he started losing confidence with Obama around the time of the stimulus. There is a reasonable chance he will cross party lines and vote Republican next year.

By the way, there is nothing preventing Jim Cramer (or Chris Matthews) from putting their money where their mouth is, and sending their “excess cash” to the sinkhole…excuse me, to the FEDERAL GOVERNMENT. They don’t need to force everyone else to flush their hard-earned cash down the hole in the process. And if they feel so strongly about this, and aren’t just posturing, they can pull out their checkbook on TV tonight and show us how its done.

Of course, writing a check to the FEDERAL GOVERNMENT isn’t much different from sending money to BERNIE MADOFF. Both follow a similar method of accounting, and have roughly the same degree of credibility on financial matters. In fact, Madoff is a piker at constructing Ponzi schemes compared to the Democrats who built the Social Security system.

I don’t think you know this but Big Business is sitting on 2-3 trillion in cash. They never had it so good. Obama has been really good for the stock market. They are paying very little in taxes.

Republicans just want to make the economy get worse and worse.

hey i am for cutting out all the loopholes, but if he can afford it why doesn’t he just send in 10% more to the government

Yoda002 said:
I don’t think you know this but Big Business is sitting on 2-3 trillion in cash. They never had it so good. Obama has been really good for the stock market. They are paying very little in taxes.

Republicans just want to make the economy get worse and worse.

Big business is sitting on cash because it’s afraid to invest in the anti-business environment created by Obama. I suggest you give yourself a lesson in finance and learn the difference between a balance sheet (where the cash sits in a financial statement) and the cash flow statement (which measures capital investment) and the income statement (which measures earnings). If you did that, you wouldn’t give such simplistic explanations, and might start understanding that the cash balances at US corporations are the exact OPPOSITE of a vote of confidence in Obama.

Yoda002 said:
I don’t think you know this but Big Business is sitting on 2-3 trillion in cash. They never had it so good. Obama has been really good for the stock market. They are paying very little in taxes.
Republicans just want to make the economy get worse and worse.

The back of your head is flat, isn’t it? You don’t even have to answer…your reasoning above tells us everything we need to know about you.

Here is the link for those of you who want to pay more taxes:

https://www.pay.gov/paygov/forms/formInstance.html?agencyFormId=23779454

don’t be shy, buck up…

Yoda002 said:
I don’t think you know this but Big Business is sitting on 2-3 trillion in cash. They never had it so good. Obama has been really good for the stock market. They are paying very little in taxes.

Republicans just want to make the economy get worse and worse.

Your statement is beyond asinine – nobody wants to see the economy worse, it hurts everyone. The right just realizes that what the left has done has not helped but hurt the economy. Someone has to have a better plan cause this one is not working! Do you understand? Nobody but nobody roots for the economy to get worse. That is just such a ridiculous statement.

Yoda002 said:
Big Business is sitting on 2-3 trillion in cash.

confiscate it? you act like it is a pile of money that exists somewhere…

Yoda002 said:
Obama has been really good for the stock market

qe1 & qe2

This is coming from the guy who said that investing in Wachovia securities was a good idea. It figures he’d say something else to mislead his dwindling audience.

Yoda002 said:
I don’t think you know this but Big Business is sitting on 2-3 trillion in cash. They never had it so good. Obama has been really good for the stock market. They are paying very little in taxes.

Republicans just want to make the economy get worse and worse.

seek said:
Your statement is beyond asinine – nobody wants to see the economy worse, it hurts everyone. The right just realizes that what the left has done has not helped but hurt the economy. Someone has to have a better plan cause this one is not working! Do you understand? Nobody but nobody roots for the economy to get worse. That is just such a ridiculous statement.

Yes, Yoda’s comment was pretty stupid. He thinks that the fact that business have stopped hiring and investing is a positive achievement by Obama. Heaven help us from brilliant economic thinking like this.

The recession/depression is in the middle class. Everybody above that is doing great.

CAINtheBULL said:
The recession/depression is in the middle class. Everybody above that is doing great.

who in the “middle class” owned cell phones 15 years ago and flat screen 40″ TV’s ten years ago…

felixw said:
Big business is sitting on cash because it’s afraid to invest in the anti-business environment created by Obama. I suggest you give yourself a lesson in finance and learn the difference between a balance sheet (where the cash sits in a financial statement) and the cash flow statement (which measures capital investment) and the income statement (which measures earnings). If you did that, you wouldn’t give such simplistic explanations, and might start understanding that the cash balances at US corporations are the exact OPPOSITE of a vote of confidence in Obama.

This ant-business environment that you’re talking about is making a tremendous amount money!! They are paying extremely low taxes. You don’t understand business at all, if they were to pay more in taxes they would put it back in their company and expand called investments. Just look at Henry Ford’s model.

skoorbekim said:
CAINtheBULL said:
The recession/depression is in the middle class. Everybody above that is doing great.
who in the “middle class” owned cell phones 15 years ago and flat screen 40″ TV’s ten years ago…

One seldom comes across such a vacuous retort. I guess the good news is that Middle Class America can carry seldom phones and the much lighter flat screens with them when they get evicted. It’s time for those who have made the most pay a fair share.

Yoda002 said:
This ant-business environment that you’re talking about is making a tremendous amount money!! They are paying extremely low taxes. You don’t understand business at all, if they were to pay more in taxes they would put it back in their company and expand called investments. Just look at Henry Ford’s model.

Indeed, the effective tax rate for corporations is ridiculous. Any corporation which cannot find deductions, credits and depreciation loopholes ought to shut down anyway. Corporations may very little in taxes in America.

BatBoy said:
The back of your head is flat, isn’t it? You don’t even have to answer…your reasoning above tells us everything we need to know about you.

You idiot, I think you mean a flat forehead. I know the righties don’t like to be corrected when they are wrong. Maybe you got hit by that bad one to many times.

THE REAL ROYAL KING said:
One seldom comes across such a vacuous retort. I guess the good news is that Middle Class America can carry seldom phones and the much lighter flat screens with them when they get evicted. It’s time for those who have made the most pay a fair share.

it’s like when the Left refers to the “working class”…

who is not part of the “working class”?

10 years ago very few could afford 40″ flat screen TV’s — now they are in every home… ditto for cell phones 15-20 years ago…

again,for those who want to pay more taxes, buck-up — what’s stopping you…

if you want less of something — tax it!

Yoda002 said:
You idiot, I think you mean a flat forehead. I know the righties don’t like to be corrected when they are wrong. Maybe you got hit by that bad one to many times.

Are you this neanderthalic and vile to conservatives you know personally?

THE REAL ROYAL KING said:
effective tax rate for corporations is ridiculous

corporations do not pay taxes — why do the Libs not understand that?

Yoda002 said:
Obama has been really good for the stock market.

But not employment or the deficit or inflation. You know, the things that really matter.

Yoda002 said:
Republicans just want to make the economy get worse and worse.

*snicker*
And the Dem’s who where in charge of both houses and made the legislation that led to the 2008 financial meltdown don’t even deserve a little bit of the blame? Not even a tiny bit? Really?
Your time spent in your little mud hut on Degobah has clouded your mind, little green swamp chimp we call Yoda.

Daniel M. Chick said:
Are you this neanderthalic and vile to conservatives you know personally?

Vile to them I am not. But learn they must.

illusive man said:
But not employment or the deficit or inflation. You know, the things that really matter.

*snicker*
And the Dem’s who where in charge of both houses and made the legislation that led to the 2008 financial meltdown don’t even deserve a little bit of the blame? Not even a tiny bit? Really?
Your time spent in your little mud hut on Degobah has clouded your mind, little green swamp chimp we call Yoda.

I was pointing out that the Obama has been very good to big business by looking at the stock market. Raising taxes for Corporations and the very wealthy will help the economy. Right now employers don’t have to hire anyone. The Republicans don’t care about deficits!! The Republicans want it to get worse!!!

illusive man said:
But not employment or the deficit or inflation. You know, the things that really matter.

*snicker*
And the Dem’s who where in charge of both houses and made the legislation that led to the 2008 financial meltdown don’t even deserve a little bit of the blame? Not even a tiny bit? Really?
Your time spent in your little mud hut on Degobah has clouded your mind, little green swamp chimp we call Yoda.

Clinton balanced the budget.

skoorbekim said:
corporations do not pay taxes — why do the Libs not understand that?

What simplistic tripe. But that’s fine. Watch the Radical Rightist Reactionary Republicans push this debt ceiling a few minutes too long. The corporations will stop filling up the trough these RRRR’s guzzle and gourge at faster than you have ever seen. The hand that rocks the cradle ….

Yoda002 said:
Clinton balanced the budget.

Only because of the republicans forced him to.

illusive man said:
Only because of the republicans forced him to.

Republicans had control of Congress in Bush’s first term. But thought deficits didn’t matter and gave out big tax cuts.

seek said:
Your statement is beyond asinine – nobody wants to see the economy worse, it hurts everyone. The right just realizes that what the left has done has not helped but hurt the economy. Someone has to have a better plan cause this one is not working! Do you understand? Nobody but nobody roots for the economy to get worse. That is just such a ridiculous statement.

You my friend are WRONG! Many higher-ups in the GOP have made it VERY clear that they want President Obama to fail “AT ALL COST” These are the most UnAmerican people ever for their disdain for a man under the guise of politics.

Why WOULD they not allow the economy to fail to solidify in the minds of Americans that President Obama is incompetent. The GOP don’t give two S–ts about you. Trust Me. Hell……Bush sacrificed 3000 people in an attack he knew was going to happen to further push his cause of entering the middle East to sack and pillage the resources for his cronies that are STILL getting paid off of his fabricated war. So what’s a little ECONOMY!

Yoda002 said:
This ant-business environment that you’re talking about is making a tremendous amount money!! They are paying extremely low taxes. You don’t understand business at all, if they were to pay more in taxes they would put it back in their company and expand called investments. Just look at Henry Ford’s model.

Yoda, you are really making a fool out of yourself, and ought to stop talking about things you don’t understand. The large cash balances at US corporations are a result of scared corporate execs who are afraid to invest, expand and hire in the current environment. This is not a positive for Obama, but a sign of how stupidly he is managing the economy, and how little confidence the key decision-makers have in his leadership.

Meanwhile, the biggest source of earnings expansion for US corporations has been caused by the collapse of the dollar under Obama, which make income earned overseas all the higher when translated back into US dollars for financial reporting purposes. A real shining achievement for Obama there — maybe if he totally destroys the dollar, earnings might double or triple next year!

Honestly, you really need to get yourself a financial education before you make these kinds of silly statements.

Or listen to what CEOs are saying. Listen to what Jamie Dimon of Chase is saying about the job-destroying and investment-destroying impact of the disastrous Dodd-Frank legislation. Listen to the CEO of Intel explain why he pays an extra billion just in regulatory costs (NOT labor costs, I’m talking sheer paperwork costs) when he builds a factory in the US versus Asia. Listen to the CEOs who decided to list their stock on the London stock exchange instead of New York because of the enormous regulatory and legal burden of complying with Democrat legislation.

You really have no clue of what is going on in the broader economy. And if you are repeating talking points you got elsewhere, you should demand a refund. Or is the kind of nonsense you are spewing conventional wisdom over at the Daily Kos? What a brain dead outfit they must be, if they think the dramatic collapse in hiring and investing is a major achievement by Obama!

Yoda002 said:
Republicans had control of Congress in Bush’s first term. But thought deficits didn’t matter and gave out big tax cuts.

The republicans lost their way as a result of 9/11. Being attacked by caveman and losing the WTC and three thousand people can do that to a person. And tax cuts are a good thing. Everybody, rich and poor, should be able to keep their own money. And lets not forget that tax cuts helped reduce unemployment.
http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=LN_cpsbref3

As you can see from the graph, unemployment went up almost to 6% in 2001 and stayed there because of 9/11. Then it slowly went down from 2004-2007 to settle just above 4%. Then the Dem’s came to power in 2007 in both houses and there destructive legislation caused 2008 meltdown.

The republicans could of done better but they where generally on the right track. Unlike the Democrats who almost destroyed the economy the very moment they came to power.

“Cramer unapologetically yelled that Obama should ignore Republicans and should raise taxes on the rich, because “we can afford it.” Well Cramer sure does have a way to simplify the debate, yet it seems highly doubtful whether everyone else who makes as much money as Cramer similarly thinks they should pay more taxes simply because they have the money lying around.”

Hey Matt…way to miss a point buddy, and to put your opinion in there at the same time huh….good job dude,really….eesshhh….”simply because they have the money lying around.”?
Really?
You don’t think there might be another reason why he said that Matt?Not one?

WOW…..

This Hedge Fund idiot is an imbecile. Everyone KNOWS that the problems we face can’t be solved off the backs of ‘The Rich.’ Are we to believe that these ‘Rich’ people are all going to stand around and let this happen to them? of course not! Many will vote with their feet and flee the country or otherwise shield their ‘richness’ like John Kerry tried to shield his yacht. The whole exercise will result in nothing but another ‘We meant well’ from limp-wristed Libs. And then these limp-wrists will moan and wail that the definition of ‘Rich’ needs to be adjusted.

Hey Jimbo, nobody on planet Earth listens to, nor cares what either you or Chris ‘Tingles & Thrills’ Matthews has to say. Both of you two wacky goofballs are really missing your callin’….as circus sideshow freaks! BWAHAHAHAHAHAHAHA

the bush tax cuts are the #1 cause of our structural deficit

thank you mr. cramer for stating the obvious

illusive man said:
The republicans lost their way as a result of 9/11

wow, the malkinites are out in force tonight, whitewashing bush’s horrible economic legacy

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I know Obama hasn’t done all that much to help the economy in GOP put it in the toilet in the first place? I’m not complaining, mind you…was able to find a cheap vacation house in Florida dirt cheap, but aren’t there any republicans honest enough to just admit that Bush sank the US economy? And it’s not getting any better, from the look of things. I just find it funny, with some of my neighbors in FL, going on about the tea party, and how Obama is flushing everything away, and the republicans are gonna turn everything around…while their homes are being foreclosed on, and they’re unemployed, since BEFORE Obama…pretty dumb.

I agree. Lets begin with General Electric.

illusive man said:
The republicans lost their way as a result of 9/11. Being attacked by caveman and losing the WTC and three thousand people can do that to a person. And tax cuts are a good thing. Everybody, rich and poor, should be able to keep their own money. And lets not forget that tax cuts helped reduce unemployment.
http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=LN_cpsbref3

As you can see from the graph, unemployment went up almost to 6% in 2001 and stayed there because of 9/11. Then it slowly went down from 2004-2007 to settle just above 4%. Then the Dem’s came to power in 2007 in both houses and there destructive legislation caused 2008 meltdown.

The republicans could of done better but they where generally on the right track. Unlike the Democrats who almost destroyed the economy the very moment they came to power.

In the short term tax cut causes economic growth, but long term it makes the economy worse because you’re not receiving as much revenue.

ChrisNH said:
This Hedge Fund idiot is an imbecile. Everyone KNOWS that the problems we face can’t be solved off the backs of ‘The Rich.’ Are we to believe that these ‘Rich’ people are all going to stand around and let this happen to them? of course not! Many will vote with their feet and flee the country or otherwise shield their ‘richness’ like John Kerry tried to shield his yacht. The whole exercise will result in nothing but another ‘We meant well’ from limp-wristed Libs. And then these limp-wrists will moan and wail that the definition of ‘Rich’ needs to be adjusted.

I got news for you they fled the country they’re betting on Chinese workers and Chinese consumers now. The top 400 pay about 16% in taxes and they have as much wealth as the bottom 155 million Americans

felixw said:
Yoda, you are really making a fool out of yourself, and ought to stop talking about things you don’t understand. The large cash balances at US corporations are a result of scared corporate execs who are afraid to invest, expand and hire in the current environment. This is not a positive for Obama, but a sign of how stupidly he is managing the economy, and how little confidence the key decision-makers have in his leadership.

Meanwhile, the biggest source of earnings expansion for US corporations has been caused by the collapse of the dollar under Obama, which make income earned overseas all the higher when translated back into US dollars for financial reporting purposes. A real shining achievement for Obama there — maybe if he totally destroys the dollar, earnings might double or triple next year!

Honestly, you really need to get yourself a financial education before you make these kinds of silly statements.

Or listen to what CEOs are saying. Listen to what Jamie Dimon of Chase is saying about the job-destroying and investment-destroying impact of the disastrous Dodd-Frank legislation. Listen to the CEO of Intel explain why he pays an extra billion just in regulatory costs (NOT labor costs, I’m talking sheer paperwork costs) when he builds a factory in the US versus Asia. Listen to the CEOs who decided to list their stock on the London stock exchange instead of New York because of the enormous regulatory and legal burden of complying with Democrat legislation.

You really have no clue of what is going on in the broader economy. And if you are repeating talking points you got elsewhere, you should demand a refund. Or is the kind of nonsense you are spewing conventional wisdom over at the Daily Kos? What a brain dead outfit they must be, if they think the dramatic collapse in hiring and investing is a major achievement by Obama!

Yes. less deregulation is what we need that caused the whole collapse in the first place. The Chase CEO was part of the problem and he actually loves this environment. Trump is actually right about putting tariffs on our imports which will help create demand for American made goods which will create more jobs. Chinese puts about 25-40% tariffs on their imports. Its called demand side economics. The Frank-Dodd legislation has barely took effect so you are way off base as usual. We actually need to reinstate the Glass-Steagall Act.

You need to actually do some research on your own and stop relying on FOX to tell you how to think.

Cramer is a lunatic. If you take money away from those who have EARNED it, they cannot afford to hire new staff. One of the several rules for life is “you cannot do business with people who have no money.” If people do not have jobs, they have no money, and therefore, you cannot do business with them and they cannot do business with you.

Even if you robbed ALL the so-called “rich” people of their wealth, you wouldn’t have enough revenue to make a meaningful dent in our country’s debt.

Cramer is guilty of not thinking before he speaks and this is but one of many examples.

X-3 said:
Cramer is a lunatic. If you take money away from those who have EARNED it, they cannot afford to hire new staff. One of the several rules for life is “you cannot do business with people who have no money.” If people do not have jobs, they have no money, and therefore, you cannot do business with them and they cannot do business with you.

Even if you robbed ALL the so-called “rich” people of their wealth, you wouldn’t have enough revenue to make a meaningful dent in our country’s debt.

Cramer is guilty of not thinking before he speaks and this is but one of many examples.

That philosophy doesn’t work then you would have job growth? If all the money is in the hands of a few rich people that doesn’t spur consumer demand. If the banks loosened up credit so small businesses can go out and make capital improvements and hire workers that would help spur growth.

Yoda002 said:
Republicans had control of Congress in Bush’s first term. But thought deficits didn’t matter and gave out big tax cuts.

Have you entirely forgotten who controlled the House after 94?

Every single balanced budget came through Net’s republican House, every one.. So splain to me again how Clinton balanced a budget he had no vote on,..

The first time in 60 years the GOP took back the House from a stunned left, and you people still claim it was a democrat budget surplus?

You’re delusional..

Correction, Newt’s as in Gingrich’s House.

I know the left is history impaired.. but come on… who had the House from 94 to 06?

I just wanna hear you guys admit, the surpluses never came through a democrat House, not once..

The truth would be refreshing.

Cramer’s an idiot, who get’s his advice wrong most of the time.. don’t believe me,. Jon Stewart did a take down of Cramer’s “expertise” that had liberals happy as Hell when he dared criticise Obama.

Cramer has been reliably on the platation since.

Keynesian theory is a disaster,. don’t work, hasn’t worked, and claiming as the left like that hack Krugman does,.. you just didn’t throw enough trillions into the stimulus is laughable.

And before tossing out the usual leftwing propaganda about the GOP being in Wall Streets pocket.. Check who get’s most, 3 out of 4 dollars donated by hedge fund managers and Goldman Sachs, Lehman Brothers. why that would be Obama.. the DNC…

The Chamber of Commerce is mostly small businesses, and that is the home of small business people, the GOP.. all the tripe about corporate shills is propaganda easily disproved by checking the figures available online about who gives to who…

The left will say Koch brothers, maybe one or two others..

Care to answer for why the list of billionares out for their profit on the democrat side is so long,.. Buffet, Soros, Gates, and on and on,.. and why is a billionare who donates to democrats “public spirited” and one who gives to the GOP an evil robber baron?

I’m sick of the delusional way the left distorts reality to defend a failed stimulus, and attack the only methods proven to work,.. so much so, even Clinton adopted some of them. But the democrats only mention him when the subject isn’t tax cuts, or they can keep the conversation limited.

Mstr Adassa said:
You my friend are WRONG! Many higher-ups in the GOP have made it VERY clear that they want President Obama to fail “AT ALL COST”

I think you are confusing the people in the GOP firmly believe Obama IS failing because of his policies. That is much different then “wanting Obama to fail!”

Could you name a couple of people and what they said…..

…and NO, Rush Limbaugh does not count…he is not in the GOP.

And being without funds, it would be impossible for the rich to simply move somewhere else, like they did in England some years back.

Yoda002 said:
Yes. less deregulation is what we need that caused the whole collapse in the first place. The Chase CEO was part of the problem and he actually loves this environment. Trump is actually right about putting tariffs on our imports which will help create demand for American made goods which will create more jobs. Chinese puts about 25-40% tariffs on their imports. Its called demand side economics. The Frank-Dodd legislation has barely took effect so you are way off base as usual. We actually need to reinstate the Glass-Steagall Act.

You need to actually do some research on your own and stop relying on FOX to tell you how to think.

Smart ideas, buddy. Those 3,000 pages of new regulations in the Dodd-Frank bill have really helped the financial industry….(Hey, Mediaite, can we fill in a laugh track here?)

And all that regulation in Obamacare really brought down health insurance costs like Obama promised, didn’t it…Well, actually it didn’t. Health insurance premiums have risen dramatically since the passage of the bill. By huge amounts!

And all the other Democrat regulation has really improved the economy, hasn’t it? Well, not really. Every economic indicator has declined under Obama.

Have you noticed that the industries that collapse are always the ones with the most Democrat regulation? What a funny coincidence, huh?

The banking industry has been completely controlled by Democrat legislation for more than a half-century. Freddie Mac, Fannie Mae, Dodd-Frank, the Glass-Steagall Bill of 1932 (both Glass and Steagall were Democrats). Even when parts of Glass-Steagall were removed, it was by another Democrat Bill Clinton….every smallest move by the banks has been controlled by Democrats in DC since before either of us was born, and so you can’t escape responsibility for the huge mess. And it was all inevitable from the moment liberals like you wanted to turn the home mortgage into another government welfare program.

So explain to me, wise guy. If regulation was the cause of the mortgage meltdown, why did it take place in the most regulated industry in the United States? I am waiting for your answer, which I am sure will be very entertaining.

felixw said:
Those 3,000 pages of new regulations in the Dodd-Frank bill have really helped the financial industry….

I’m not sure that the purpose of regulation is to ‘help’ the industry it is placed on. Rather, I think the purpose of regulation is to protect the consumer and keep markets fair.

felixw said:
And all that regulation in Obamacare really brought down health insurance costs like Obama promised, didn’t it…

Well, those regulations weren’t really aimed at reducing costs; they were aimed at expanding coverage.

felixw said:
The banking industry has been completely controlled by Democrat legislation for more than a half-century. Freddie Mac, Fannie Mae, Dodd-Frank, the Glass-Steagall Bill of 1932 (both Glass and Steagall were Democrats). Even when parts of Glass-Steagall were removed, it was by another Democrat Bill Clinton….

I will be the first to admit that Freddie and Fannie have done more harm than good in the long run, but the repeal of Glass-Steagall Act (not bill, because it became law) was spearheaded by a Republican by the name of Phil Gramm. So, your assertion that ‘it was just Democrats’ is incorrect.

felixw said:
If regulation was the cause of the mortgage meltdown, why did it take place in the most regulated industry in the United States?

It was not just regulation. The Greenspan Fed did a good job inflating that bubble by keeping interest rates too low for too long.

Stephen Hogan said:
I’m not sure that the purpose of regulation is to ‘help’ the industry it is placed on.

Certainly by that measure the Democrats have succeeded. Look at all the industries on the brink of disaster, or actually over the edge — they are all highly regulated by Democrats.

Stephen Hogan said:
the repeal of Glass-Steagall Act (not bill, because it became law) was spearheaded by a Republican

Clinton signed and supported the Glass-Steagall repeal. But look at the larger picture, the whole banking and mortgage industry has been intensely controlled and regulated by the Democrats for almost a century.

1913: Democrat Woodrow Wilson creates the Federal Reserve Bank to “fix” the US banking system
1932: Glass-Steagall was the Democrats promised “fix” to the US banking system. Both Glass and Steagall were Democrats.
1938: Fannie Mae was created by FDR and the Democrats. This was a “fix” to the US mortgage system.
1994 The Clinton administration passes the Interstate Banking and Branching Efficiency Act of 1994. Another “fix” of the US banking system.
1999 Fannie Mae was intensely pressured by Clinton and Democrats to take on more risk. This was another “fix” to the US mortgage system.
2010 Dodd-Frank bill passed — another 2,319 pages of regulation which has had devastating effects on the financial industry, but none nothing to address the real underlying cause of the meltdown — namely that the government had set up a whole system and rewards program to encourage bankers to give out mortgages to people who couldn’t pay them back.

Face it, the mortgage meltdown and financial crisis came out of the most heavily regulated industry in the world. To say that LACK of regulation caused this mess is a total joke. The regulation caused it, by removing the real market checks that normally prevent banks from issuing bad loans. Instead they were rewarded and prodded by the Democrats into issuing bad loans…with predictable consequences.

And even if I grant your stupid premise that LACK of regulation caused the mess (which is, as I said, totally bogus)….what makes you think that the next 3,000 pages of regulation will be any more successful than all the previous failed Democrat fixes?

Let me tell you a simple fix to the banking mess. Require 20% down payments and credit checks when people buy houses. That would make sure that no repeat of this fiasco would occur. But the Democrats would NEVER go down that path — because it is incompatible with their larger goal of turning the home mortgage into a welfare entitlement. So expect more mortgage meltdowns in the future — since the Democrat’s regulation is the problem, not the solution.

Yoda002 said:
In the short term tax cut causes economic growth, but long term it makes the economy worse because you’re not receiving as much revenue.

You do remember that we are a consumer based economy,right? If more people can keep the money they earned, rich and poor, money that would of gone to and be wasted by the government mind you, that extra money can be used to buy “stuff”. For example, lets say I want to buy a cabinet for my kitchen. I just go to Loews and buy one, simple. By buying that cabinet, Loews is now down in stock by one cabinet. So they place an order to the factory that built the cabinet. The factory builds one and sends it to Loews. Now the factory is down in stock with the wood it needs to build cabinets and the various other things they build. So they place an order to the lumber yard. The lumber yard then sends them a new supply of wood. And wouldn’t you know it, know the lumber yard needs more lumber. So what do they do? Thats right, they place an order to the lumberjacks who then cut down the trees and then sells it to the lumber yard.
And what happens to the money that the Lowes employees, the cabinet factory employees and the lumberjacks earn? Why they spend it of course. They use it to buy things. Some of them will use that money to buy some of the products that I make, effectively keeping me in business.
And the circle of free market is now complete, in this one example.

And where was the government in that example? It wasn’t there. It wasn’t needed. The government is a black hole, Yoda. All it can do is slow down the free market and suck up it resources and money.

If the government is afraid to lose revenue, then it MUST cut back on it’s spending. The government is not entitled to our money. When the IRS sends the cops to arrest you for not paying taxes or for falling behind on paying what you owe them, it should be viewed no differently than a theif breaking into your home and stealing from you. Thats all taxation is, theft.
I’m not saying we should’t pay any taxes to the government. But the tax code as it now exists is ridiculous and giving more of our money to them would be a wast and stupid. It wouldn’t fix the economy in any way. Especially if they refuse to cut spending across the board.
Right now the government brings in a little over two trillion dollars a year after the tax season. If the government stoped it’s wastful social and military spending and applyed that money to the deficet and allowed every American to make money anyway they see fit, as long as it dosen’t hurt anybody, America could be back in the green in a decade or less. But no, that would require the government give the people the power to decide their own fate. And we both know how much the government hates giving people the ability to choose their own destiny. And why wouldn’t that hate that? By giving the American people the power,the government loses it’s own power over the American people. Of course they would hate that.

Yoda002 said:
That philosophy doesn’t work then you would have job growth? If all the money is in the hands of a few rich people that doesn’t spur consumer demand. If the banks loosened up credit so small businesses can go out and make capital improvements and hire workers that would help spur growth.

Would you consider working for a poor man? If you did, you’d be foolish. The state recently raised my taxes. I laid off two people. If my taxes are raised again, I will lay off more people.