Huge tax/spending increases are needed next year

[manning]

so says Barney Frank

 

[Master Mason]

so says Barney Frank

Can I be the first on this thread to say that Barney Frank is an idiot?

 

[CapeCodTenor]

Can I be the first on this thread to say that Barney Frank is an idiot?

Sure you can, and I'll be the second to say it.

 

[Tigger Woods]

so says Barney Frank

Yes, but remember, 95% of workers will not pay any additional taxes.

 

[manning]

Yes, Barney Fannie Mae Frank

 

[JessicaR]

Can I be the first on this thread to say that Barney Frank is an idiot?

OK you can be first as long as I can agree! What a maroon!

 

[punkin]

Barney Frank is not an idiot. When you are fighting two wars and bailing out the financial system to the tune of OVER 700 billion dollars (way over), taxes are going to have to increase. We simply cannot continue to grow the deficit.

 

[Charade]

Barney Frank is not an idiot. When you are fighting two wars and bailing out the financial system to the tune of OVER 700 billion dollars (way over), taxes are going to have to increase. We simply cannot continue to grow the deficit.

Yes he is.

He emphatically stated the fannies didn't need tighter regulations.

 

[JonS99]

Which is why the Obama tax cuts are nothing but political BS that it seems like people are starting to realize..

 

[JonS99]

Barney Frank is not an idiot. When you are fighting two wars and bailing out the financial system to the tune of OVER 700 billion dollars (way over), taxes are going to have to increase. We simply cannot continue to grow the deficit.

Of the 3, which did Frank vote against?

 

[Charade]

Of the 3, which did Frank vote against?

Ziiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiing!

 

[Master Mason]

Barney Frank is not an idiot. When you are fighting two wars and bailing out the financial system to the tune of OVER 700 billion dollars (way over), taxes are going to have to increase. We simply cannot continue to grow the deficit.

You missed the second part where he also said massive spending increases must happen as well.

I stand by my statement, he's an idiot.

 

[Anewman]

You missed the second part where he also said massive spending increases must happen as well.

I stand by my statement, he's an idiot.

I agree... IDIOT.

But I am all for massive spending here at home, put Americans to work like Reagan did.

 

[Poohgirl]

The guy may or may not be an idiot, but what he is saying is not idiotic. It is good fiscal policy in this type of economic environment. The gov't initially has to spend and collect taxes which then bolsters the economy, creating a higher GDP, businesses then increase workers who then pay taxes and the cycles continues until the economy self corrects. To reduce spending and taxes helps not create a larger deficit, but does nothing to help the economy grow.

 

[SeeVee]

The guy may or may not be an idiot, but what he is saying is not idiotic. It is good fiscal policy in this type of economic environment. The gov't initially has to spend and collect taxes which then bolsters the economy, creating a higher GDP, businesses then increase workers who then pay taxes and the cycles continues until the economy self corrects. To reduce spending and taxes helps not create a larger deficit, but does nothing to help the economy grow.

You are not seriously trying to say that government spending makes the economy grow, are you?

 

[Cor44432]

It wasn't the vote for the war in Iraq that was the cause of the financial drain,
it was the inept execution of the occupation afterwards. If you want idiots, start with Rumsfeld, Wolfowitz, and Vieth.

 

[Anewman]

It wasn't the vote for the war in Iraq that was the cause of the financial drain,
it was the inept execution of the occupation afterwards. If you want idiots, start with Rumsfeld, Wolfowitz, and Vieth.

Not a fan of any of the above, but IMO they were just doing their job.

 

[Poohgirl]

You are not seriously trying to say that government spending makes the economy grow, are you?

Absolutely! $1 in gov't spend will expand the private sector $1.38 in the same year. Although noted, it can not be sustained long term or if the government were to grow too large which would then hinder long term growth. It is a type of bell curve where government spending at the top of the curve (certain% of GDP) maximizes the growth potential of the economy.

 

[Charade]

Absolutely! $1 in gov't spend will expand the private sector $1.38 in the same year. Although noted, it can not be sustained long term or if the government were to grow too large which would then hinder long term growth. It is a type of bell curve where government spending at the top of the curve (certain% of GDP) maximizes the growth potential of the economy.

Well hells bells!! Where can I sign up for a 38 percent return on my money!!!

Oh wait, that is my money.

 

[Goofycampers]

Which is why the Obama tax cuts are nothing but political BS that it seems like people are starting to realize..

ITA