US Credit Rating Downgraded To AA+

[12thMan]

Originally Posted by mlmpetert

A must watch in my opinion. I almost want Obama to win in 2012 so this guy can be president in 2016 and not have to wait till 2020. Baring a major scandle or if hes smart enough to not want to run he will be president one day:

Sen. Rubio: "Save the Whole House or It Will All Burn Down" - YouTube

Rubio will either be on the ticket as Veep in 2012 or run in 2016. He's quietly laying the ground work to be a national player. I don't see why he shouldn't be a serious contender in 2016.

The GOP field will be considerably stronger in 2016.

[mlmpetert]

Originally Posted by 12thMan

Rubio will either be on the ticket as Veep in 2012 or run in 2016. He's quietly laying the ground work to be a national player. I don't see why he shouldn't be a serious contender in 2016.

The GOP field will be considerably stronger in 2016.

I hadnt thought about VP. I know he turned down requests for him to run for president this year because he has only been a senator for 6 months or so and he wanted to finish out his term..... kind of like someone else in 2008, but the opposite.

There seems to be a lot of young and talented politics out there, Rubio and Warner are 2 that come to mind (even though Warner has kind of been around for a while, 10 years). Hopefully we get more of these guys in the coming years. Term limits would be a great way to facility this..

[12thMan]

Originally Posted by mlmpetert

I hadnt thought about VP. I know he turned down requests for him to run for president this year because he has only been a senator for 6 months or so and he wanted to finish out his term..... kind of like someone else in 2008, but the opposite.

There seems to be a lot of young and talented politics out there, Rubio and Warner are 2 that come to mind (even though Warner has kind of been around for a while, 10 years). Hopefully we get more of these guys in the coming years. Term limits would be a great way to facility this..

Marco Rubio will run for president in 2016 and unless Hillary Clinton runs, I think he'll win.

[mlmpetert]

Originally Posted by 12thMan

Marco Rubio will run for president in 2016 and unless Hillary Clinton runs, I think he'll win.

Yeah im excited for the day he runs. I almost want the republicans to loose this upcoming election so that he will be running in 2016 and not 2020. By that point he'll probably want out of politics or may turn into a typical politician. Time will tell.

Have you seen this video, I posted it a while back. Even my mom likes it and shes as liberal as it gets (she didnt say she liked it, but i could tell).

Sen. Rubio: "Save the Whole House or It Will All...

[12thMan]

Fitch reaffirms AAA+ rating. So two of the three agencies say we're good to go and remain stable.

Fitch reaffirms 'AAA' rating on US - MarketWatch

[12thMan]

Warren Buffet says increase taxes, S&P says let's increase taxes, public opinion says let's increase taxes.

[mlmpetert]

Pat Buchanan Responds to Warren Buffett’s Tax Policy Op-ed | Video | TheBlaze.com

“I’m a little fed up with these people who come on, you know, their big op-eds, all these admonitions. Why doesn’t he set an example and send a check for $5 billion to the federal government? He’s got about $40 billion. You know, you had a plan up there, I talked to Howie Carr at Boston where the super-rich could contribute an extra amount. It was something like one-tenth of one percent did it. You get all this noise from these big rich folks. Let them send checks and set an example instead of writing op-eds.”

Whats stopping Buffet from just sending in his money to the govt?

I think there needs to be some tax increases, namely in the form of closing loopholes.

[12thMan]

Originally Posted by mlmpetert

Pat Buchanan Responds to Warren Buffett’s Tax Policy Op-ed | Video | TheBlaze.com



Whats stopping Buffet from just sending in his money to the govt?

I think there needs to be some tax increases, namely in the form of closing loopholes.

That's a silly argument, why doesn't Buffet send his money to Govt? I'm sure he's sending what he's required to and would send more if it would help the country.

[mlmpetert]

Originally Posted by 12thMan

That's a silly argument, why doesn't Buffet send his money to Govt? I'm sure he's sending what he's required to and would send more if it would help the country.

yikes:

This one’s truly, uh ... rich: Billionaire Warren Buffett says folks like him should have to pay more taxes -- but it turns out his firm, Berkshire Hathaway, hasn’t paid what it’s already owed for years.

That’s right: As Americans for Limited Government President Bill Wilson notes, the company openly admits that it owes back taxes since as long ago as 2002.

“We anticipate that we will resolve all adjustments proposed by the US Internal Revenue Service (“IRS”) for the 2002 through 2004 tax years ... within the next 12 months,” the firm’s annual report says.
It also cites outstanding tax issues for 2005 through 2009.

Read more: Warren Buffett’s hokey tax-hike call--Editorial - NYPOST.com


Also this is a thought provoking and very quick read:

News Headlines

[saden1]

Originally Posted by mlmpetert

Pat Buchanan Responds to Warren Buffett’s Tax Policy Op-ed | Video | TheBlaze.com



Whats stopping Buffet from just sending in his money to the govt?

I think there needs to be some tax increases, namely in the form of closing loopholes.

For one thing his money alone isn't enough to bring this country out of deficit. Secondly, his stance is a matter of fairness and simply giving away his money isn't going to solve the core issue of his secretary having to pay more percentage of her income on taxes. Lastly, most of his money has already be allocated to the Gates Foundation.

Comprende?

[dmek25]

no one gives up anything, unless they are told to do so. if one of the richest people in our country says to raise his taxes, why wouldnt we? i know the answer to that. how many millionaires are sitting in congress? probably all of them

[12thMan]

Because we know that cutting taxes and turning billionaires into trillionaires will help the economy recover faster.

[dmek25]

Originally Posted by 12thMan

Because we know that cutting taxes and turning billionaires into trillionaires will help the economy recover faster.

are you ronald regan? that stupid philosphy doesnt work. already been there, done that

[NC_Skins]

Originally Posted by dmek25

are you ronald regan? that stupid philosphy doesnt work. already been there, done that

He was being sarcastic.

[mlmpetert]

Im not saying he should send all his money in, just an amount equal to how much he thinks he should pay. But if hes so adamant about the super rich paying more in taxes, why doesnt he set an example. Im sure he can raise 1 billion and give it to the government as an example for others.

I respect Warren Buffet…. as a investor but that’s all he is. Just a genius value investor, not an economist or politician. The Koch brothers probably want to get rid of taxes. George Soros probably wants to double taxes on rich and triple entitlements. Just because someone’s successful and rich doesn’t mean they know whats best for us. So when 12th says Warren Buffet says this, I say so what. I absolutely don’t think Buffet should write a big check that’s crazy, but I would be a lot more interested in his opinion if he did. Actions > words, for me.

I honestly think we need to completely overhaul our tax code. I think we should have something simply enough that regardless of wealth and income, anyone with a high school education should be able to complete their taxes in less than 30 minutes the day taxes are due as long as they have their w2 and 1099’s in hand. A corporation should be able to do it in under an hour. At least those are my ideals.

A lot of these so called “loopholes” are going to be difficult to cut. Things like corporate jet write offs and oil company credits are small potatoes and wont do anything to raise revenues, just hurt oil companies and jet companies. The things that matter are the Healthcare funded by your employer credit (275 billion), mortgage interest (90 billion), 401k contributions (60 billion), charitable donations (40 billion), state and local taxes paid credits (40 billion). You cant cut these things unless you make MASSIVE reform to the tax code. Welfare credits like the earned income credit (60 billion) need to go in my opinion. Raising taxes on capital gains and qualified dividends to make them equal to your earned income rate is probably also a good idea, and I think that’s the major thing Buffet is campaigning for.

I think raising “total income” (earned or otherwise) top tier rates slightly make sense, but only if in conjunction with tax code reform and a reduction in corporate taxes. Corporate taxes only account for about 15% (380 billion) of total revenue and are the highest and most complicated in the world. Raising taxes via the elimination of social aid to lower income individuals need to happen too. We cant expect 50% of Americans to pay no taxes at all, while 5% of Americans pay half of all the taxes. People who don’t pay anything don’t feel like they own anything. Let the poor take ownership in their country.