Drudge Retort: Red Meat for Yellow Dogs
Monday, June 29, 2009

Top WH Advisor: Obama Won't Rule Out Middle Class Tax Hike

Monday, June 29, 2009

"The president had said in the past that he doesn't believe taxing health care benefits at any level is necessarily the best way to go here. He still believes that. But there are a number of formulations and we'll wait and see. The important thing at this point is to keep the process moving, to keep people at the table, to the keep the discussions going. We've gotten a long way down the road and we want to finish that journey."

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jeffndenmark

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Read my lips......

Skidmark, why do you hate Amerika?

Hope and change and no tax increases

SUCKERS

It's called negotiating points. They are used to keep all stake holders open and at the table. No one knows what a final bill will look like yet.

Here you go....Watch Gibbs dance...

www.youtube.com

Obama has already "raised taxes," the burden on everyone including his "poor" dupes and the middle class with his debasing of the currency by creating such a huge debt burden.

Fools think that they're exempt and that "everything is free." But there are transfers of assets rather than creation of goods and services, and "the tax" will manifest itself as a declining standard of living.

My community had a 26% decline in sales tax revenues for March 2009. Instead of a "negative savings rate," now Americans are saving some 6% to 7% of their income. Scared of the future? The coming inflation will make this savings enterprise an exercise in futility.

By the way, China is also in deep doodoo regardless of the reserves of the American dollar that it holds. Exports constituted 40% of the Chinese economy. These have dropped 26% (a coincidence not a typo). More than half of Chinese exports were to the U.S. Without the export markets to sustain it, there are massive readjustments and the some 200,000,000 unemployed and underemployed whose hope founded on their burgeoning economy, is now evanescing. Some 20,000,000 from one poor region have been sent back to the rural areas from the cities. There were some 80,000 riots in China last year. Much unrest.

The Chinese banking system is under great stress as they were "betting on the come." Their reserves were reportedly some 0.72%, less than 1% of their ... Oh well, what the heck. Their system is so opaque that Fitch's reports are probably largely speculative.

The Chinese were supporting large army owned companies that were operating at a loss so as to maintain employment and thus reduce unrest.

China has other problems. The Chinese abortion of girls has resulted in a huge overage of males without the prospect of the stabilizing presence of women in their lives. And with the other unrest, this is a situation which might just ignite with people who are agitated and have no prospects, and so "nothing to lose."

Another problem is the inverse population bomb affecting a country which used abortion to enforce one child families, so that as a matter of public policy you have family trees more prevalent than those in other declining population countries, with four grandparents, two parents, and one "prince," who will as the others age, be called upon to support all of the six elderly folks. It is unlikely that productivity will increase sufficiently to maintain this structure at anything approximating even the present standard of living.

Germany and Japan are two other countries very dependent on exports and with declining populations, generation by generation.

It does not augur well.

We're in a declining spiral that will find people spending less and less money, and businesses closing as they lack the income to sustain themselves. It's a process that feeds on itself. As income and thus taxes decline, where will the money be found by the government to support those of us without resources. There are fewer of us in rural areas where we could sustain ourselves with basics than there were heretofore.

And we are "so smart" that we devised trust deeds to replace mortgages so that the delays that precluded reclaiming of property during the preceding Great Depression because court dockets were full, and in some places such as Detroit, it was some seven or eight years that the occupant could live in a property rent-free before being evicted so they eained a place to live. Now, unless the TD holder wants a deficiency judgement, all that is required is advertising and a limited waiting period of a few months, so there will be far more homeless and far more deserted properties.

Tax hike. Taxing what? Will there be a VAT (tax)? This is regressive as is the sales tax. Uh oh, leftist pipe dreams are not panning out as their model of how things work is erroneous, and we are all going to suffer because of the Obama economic initiatives, especially if the health plan and cap and trade are passed. Cap and trade, green policies, have saddled Spain with variously 17.1% to 18.6% unemployment. New "green jobs" cost so much to create that they bog down the economy even further. And look at the beneficiaries of Obama's largess have actually been, the elites. Obama has awarded his supporters such as GE, who will make previous administrations' earmarks look like chump change as GE receives trillions in contracts. GE certainly supports green initiatives since it puts "green" on its balance sheet.

Dupes. The standard of living of almost all of us is going down, down, down.

... so they retained a place to live.

Angrydad,
I don't hate America. I love America. That's why I speak out about all of the corrupt communist bullshit that these globalist bastards are perpetrating on America.
I hate all of you spineless cowardly cock suckers that are to stupid, or to afraid to speak out.

In a couple of years from now you cowardly pieces of shit will be wishing that you had spoke out sooner. Of course some of you will go to the FEMA camps and take your cancer virus laden vaccines loving your slavery all the way to your plastic coffins. And good riddens to you when it happens. You deserve it.

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