Quote:
Originally Posted by Ronald Pagan
Fantastic circle jerk going on in here.
This is how I see it:
The American economy has been in decline thanks to neglect. The Obama budget, in large part tries to outline a path to rejuvenate the key imputs of the economy and fiscal stability. Wow, you might say, this is not fiscally responsible let alone stable.
But you need to look at the demographics and factor inputs that make a healthy economy. It takes healthy people. Obama's budget creates significant new spending to restructure the health delivery programs and eventually make them more efficient. Health care costs will be 40% of GDP in 40 years if something isn't done to rapidly usher in efficiency to the sector (spending on digitally transferring patient records to electronic databases) and to promtoe health.
Furthermore, much of the spending is one schools and universities. This is a statistically proven variable on economic growth. Spending in these areas should not be considered a waste.
And all the while, while people are here flagging Obama for running a huge deficit, the bottom line is that no government in the past 50 years in the U.S. has thought it necessary to tax citizens at the level to sustainably provide the government support that they demand. This isn't Obama's problem, it's a systemic issue. He's making good on reforming the tax system so that the wealth pay more and have less tax credit loopholes.
Of course keep farming out the negative articles that have absolutely NOTHING to offer to the debate besides criticism. Big contribution you're making there Azure. You're making your point that you don't like Obama. That's about the only point you're making.
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Even Buffett was saying that he thought he paid low taxes and that the IRS came out with a study that showed that in 2006 the top 400 income earners in the US paid taxes at a rate of 17% and this was the lowest level in history. He went on to say that just because he is good at capital allocation doesn't mean that he should pay less taxes.
I guess he has capitalized on capitalism to the point where he doesn't mind giving back more to the government.
Buffett : We are going to be spending something like 3.6 Trillion in the next year or so and guys like me have gotten off too light....