alexey Posted February 27, 2009 Share Posted February 27, 2009 http://www.iht.com/articles/2009/02/27/america/27webbudget.php?page=1 Proclaiming a "once in a generation" opportunity, President Barack Obama proposed a 10-year budget on Thursday that reflects his determination in the face of recession to invest trillions of dollars and his own political capital in reshaping the nation's priorities. He would overhaul health care, begin to arrest global warming, expand the federal role in education and shift more costs to some corporations and the wealthiest taxpayers. In a veiled gibe at the Bush years, Obama said his budget breaks "from a troubled past" and attributed the current economic maelstrom to "an era of profound irresponsibility that engulfed both private and public institutions from some of our largest companies' executive suites to the seats of power in Washington, D.C." Without trimming his ambitious campaign promises, the president projects a budget for the 2010 fiscal year of nearly $3.6 trillion. He says he would shrink annual deficits, now at levels not seen in six decades, mostly through higher revenue from rich individuals and polluting industries, by reducing war costs and by assuming a rate of economic growth by 2010 that private forecasters and even some White House advisers consider overly rosy. ... also this Obama would slash about $5 billion in the coming year for direct payments to agribusinesses and farmers with more than $500,000 in annual revenue, and $4 billion in annual subsidies to private banks that make college loans. Link to comment Share on other sites More sharing options...
cjcdaman Posted February 27, 2009 Share Posted February 27, 2009 "begin to arrest global warming" "shift more costs to some corporations and the wealthiest taxpayers" "mostly through higher revenue from rich individuals" :doh: Link to comment Share on other sites More sharing options...
Springfield Posted February 27, 2009 Share Posted February 27, 2009 The rich get poorer and the poor get richer. Yes! Link to comment Share on other sites More sharing options...
deejaydana Posted February 27, 2009 Share Posted February 27, 2009 Sweet! Give more money to Federal oversight of education! California allocates .71 cents of every dollar (you read that right) to education already and California has one of the worst schools programs in the Union. I can't wait to hear how more money will make it better. Regale me please. Only a young fool believes you can soak the rich for what is needed to fund programs this 'all encompassing.' But please, regale me. Link to comment Share on other sites More sharing options...
Brad_Edwards_Fan Posted February 27, 2009 Share Posted February 27, 2009 Funny side effect though... I am starting a side "consulting" business with a colleague that i worked with formerly, who lives in the Caymans (was born there too). With all this talk of raised taxes I jokingly said that we should set up the company so that it was based in the Caymans with him and just pay me as an employee. Neither of us know the legal side of it, but we did send an email to the attorney that is helping us with the paperwork to see if it is legal. I'm sure that the potential for an increased tax burden has gotten more than just the two of us talking about legal ways to keep our income (probably got some thinking about illegal ways too!) Link to comment Share on other sites More sharing options...
FanboyOf91 Posted February 27, 2009 Share Posted February 27, 2009 Of the $3.55 trillion requested for the 2010 fiscal year that begins in October, more than $2 trillion is mandatory spending for the programs — chiefly Medicare, Medicaid and Social Security — that provide benefits to all who are eligible. Man.... Link to comment Share on other sites More sharing options...
cjcdaman Posted February 27, 2009 Share Posted February 27, 2009 The rich get poorer and the poor get richer. Yes! I know you do that just be an ass, but from all the times you've "joked" about it...you really do feel that way. Believe me, being a Socialist is not going to make me mad. It makes you look reliant. Your welcome. Link to comment Share on other sites More sharing options...
TheGoodBits Posted February 27, 2009 Share Posted February 27, 2009 Sweet! Give more money to Federal oversight of education! California allocates .71 cents of every dollar (you read that right) to education already and California has one of the worst schools programs in the Union. I can't wait to hear how more money will make it better. You throw figures like that out there either without understanding them or trying mislead people with them. Of course California spends most of their tax money on education (assuming that 71/100 is correct, which is questionable), that is a primary function of state government. They probably spend most of the rest of it on transportation (though much of those funds come from the feds). What else are state governments in charge of that would require them to spend a lot of their money on? Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted February 27, 2009 Share Posted February 27, 2009 Don't forget about this 20 somethings From the article By the last year of his term, in the 2013 fiscal year, Obama projects a deficit of $533 billion, or 3 percent of the overall economy, a level that economists consider sustainable. Even so, he foresees the level of the nation's debt held by the public rising from 58.7 percent in the current year to 67.2 percent in a decade, a level not seen since 1951. And this Of the $3.55 trillion requested for the 2010 fiscal year that begins in October, more than $2 trillion is mandatory spending for the programs — chiefly Medicare, Medicaid and Social Security — that provide benefits to all who are eligible. Just a note. The ENTIRE BUDGET in 1999 was 1.7 trillion! Link to comment Share on other sites More sharing options...
TheGoodBits Posted February 27, 2009 Share Posted February 27, 2009 Don't forget about this 20 somethingsFrom the article Sucks for us... We'll eventually dig ourselves out though. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted February 27, 2009 Share Posted February 27, 2009 Sucks for us... We'll eventually dig ourselves out though. Any clue how so? There literally isn't the money in existance to fund this and our unfunded liabilities The first step to "dig our way out" is to STOP DIGGING Link to comment Share on other sites More sharing options...
Brad_Edwards_Fan Posted February 27, 2009 Share Posted February 27, 2009 Any clue how so?There literally isn't the money in existance to fund this and our unfunded liabilities We'll just take it from the rich! Link to comment Share on other sites More sharing options...
deejaydana Posted February 27, 2009 Share Posted February 27, 2009 You throw figures like that out there either without understanding them or trying mislead people with them. Of course California spends most of their tax money on education (assuming that 71/100 is correct, which is questionable), that is a primary function of state government. They probably spend most of the rest of it on transportation (though much of those funds come from the feds). What else are state governments in charge of that would require them to spend a lot of their money on? I think I understated that education %, really. I'm not making idle moronic message board talk. They spend much of it on unions, which you have no choice to bypass. Suck it up if you wish 20 year old, you will be funding my retirement. I however, want you to spend money wisely, believe it or not. Link to comment Share on other sites More sharing options...
alexey Posted February 27, 2009 Author Share Posted February 27, 2009 Funny side effect though... I am starting a side "consulting" business with a colleague that i worked with formerly, who lives in the Caymans (was born there too). With all this talk of raised taxes I jokingly said that we should set up the company so that it was based in the Caymans with him and just pay me as an employee. Neither of us know the legal side of it, but we did send an email to the attorney that is helping us with the paperwork to see if it is legal.I'm sure that the potential for an increased tax burden has gotten more than just the two of us talking about legal ways to keep our income (probably got some thinking about illegal ways too!) Do you think that people need additional insentives to try and avoid their tax burdens? This is just about as silly as people who send out chain emails that offer to make thousands of dollars by taking advantage of the new law by selling houses back and forth to each other... while forgetting that it's actually an interest-free loan. Link to comment Share on other sites More sharing options...
RedskinsFanInTX Posted February 27, 2009 Share Posted February 27, 2009 We'll just take it from the rich!How many people out there were hired by a poor person and now get your pay check from that poor person? Soak the rich so they can lay you off! Link to comment Share on other sites More sharing options...
ChocolateCitySkin Posted February 27, 2009 Share Posted February 27, 2009 Don't forget about this 20 somethingsFrom the article And this Just a note. The ENTIRE BUDGET in 1999 was 1.7 trillion! shouldn't you be jumping up and down for slashing farm subsidies? Link to comment Share on other sites More sharing options...
cjcdaman Posted February 27, 2009 Share Posted February 27, 2009 We'll just take it from the rich! God, I hope your kidding. Obama has brought people like this into the spotlight. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted February 27, 2009 Share Posted February 27, 2009 shouldn't you be jumping up and down for slashing farm subsidies? I did earlier today in another thread I also said that if the President is able to accomplish it, he'll be the greatest President ever Another item from the article A significant share of Obama's projected deficit reduction owes to assumptions about future economic growth that are more optimistic in Obama's first term than many forecasts from private analysts. Some Obama advisers privately objected that the rosy projections would draw criticism that the White House was manipulating the numbers, but Christina Romer, the chairwoman of Obama's Council of Economic Advisers, insisted the projections were realistic.After negative growth of 1.2 percent this year, the budget projects growth of 3.2 percent in 2010, and 4 percent or more in the following three years. In contrast, the consensus of business economists surveyed by Blue Chip Economic Indicators this month projected growth no higher than 2.9 percent through 2013. Link to comment Share on other sites More sharing options...
mjah Posted February 27, 2009 Share Posted February 27, 2009 1951 was when we had the greatest debt in US history (yes, larger as a % of GDP than we have today). Now we have the second-largest. I'm not surprised that the percentage of publicly owned debt will be similar. It's not particularly comforting. But it's not surprising either. Link to comment Share on other sites More sharing options...
Brad_Edwards_Fan Posted February 27, 2009 Share Posted February 27, 2009 Do you think that people need additional insentives to try and avoid their tax burdens? Most, probably not. However the two of us at least had always just assumed without discussion that we would be US based... it was a joke about these tax increases that got us considering it. I cant imagine that others who may not have otherwise taken the effort to relocate would not decde to do so if they felt that the burden was too high. Based on where my taxes are personally, i have never felt that i was "targeted unfairly" and paid what was asked of me (i have never even had any sort of shelter other than my mortgage interest and the deduction for my tuition). However, the idea that all of a sudden im not doing enough and that i need to do more just becasue someone decides that i can bothers me. If I have my way Uncle Sam will get the same pound of flesh that he always has gotten from me, but I will protect as much of my additional revenue as possible. Link to comment Share on other sites More sharing options...
TheGoodBits Posted February 27, 2009 Share Posted February 27, 2009 I think I understated that education %, really. I'm not making idle moronic message board talk. They spend much of it on unions, which you have no choice to bypass. Suck it up if you wish 20 year old, you will be funding my retirement. I however, want you to spend money wisely, believe it or not. Haha, well enjoy your Social Security checks and think of those paying on the other end (with little hope that the gov't will honor the agreement and still have people paying us in 50 years). And I hear you bud. It's a crappy situation we're in, and it's going to get worse before it gets better. I'm definitely not happy about all the spending. I just hope it's not all in vain. Link to comment Share on other sites More sharing options...
ChocolateCitySkin Posted February 27, 2009 Share Posted February 27, 2009 I did earlier today in another thread I also said that if the President is able to accomplish it, he'll be the greatest President ever Another item from the article you really need to lay off the doom and gloom... placebos do work you know Link to comment Share on other sites More sharing options...
Springfield Posted February 27, 2009 Share Posted February 27, 2009 I know you do that just be an ass, but from all the times you've "joked" about it...you really do feel that way. Believe me, being a Socialist is not going to make me mad. It makes you look reliant. Your welcome. I'm really just bitter and jealous. I'm really tired of hearing about how bad the rich have it off and how irresponsible that the poor are. That's all I hear about on these boards for the most part. "You can't blame the banks, the poor people took out these loans they can't repay." "You can't raise the upper classes taxes, they stimulate our economy and allow businesses to hire more people. That stimulates the economy more!" I'm not suggesting that you have said any of those things (or anything like them) but I hear it all the time here. It's like the poor people of this country are bringing us all down and they should take the brunt of everything. The most vocal response I've heard on these boards have been pro-rich and anti-poor. I think that if we really thought about it, we'd find that both the rich and the poor are to blame. The real argument to me is... in these trying times, who needs the help most? Link to comment Share on other sites More sharing options...
cjcdaman Posted February 27, 2009 Share Posted February 27, 2009 I'm not suggesting that you have said any of those things (or anything like them) but I hear it all the time here. It's like the poor people of this country are bringing us all down and they should take the brunt of everything. The most vocal response I've heard on these boards have been pro-rich and anti-poor.I think that if we really thought about it, we'd find that both the rich and the poor are to blame. The real argument to me is... in these trying times, who needs the help most? Again, another educated thought-out response. The only problem is that I am BAD when it comes to this stuff. All I do is state my opinion and ask questions that hopefully can get answered. Most likely, you're more intelligent than I am in these matters. One question I have is...when these folks get "help", when does the "help" end? Is it forever? Eventually they have to realize that they can now go to college or get a better job because they have been saving all this "help" from Obama. Link to comment Share on other sites More sharing options...
alexey Posted February 27, 2009 Author Share Posted February 27, 2009 Most, probably not. However the two of us at least had always just assumed without discussion that we would be US based... it was a joke about these tax increases that got us considering it. I cant imagine that others who may not have otherwise taken the effort to relocate would not decde to do so if they felt that the burden was too high. And people were talking about moving to Canada when Bush got elected. People have all kinds of funky ideas and impulses... I wouldn't put too much weight on that. Link to comment Share on other sites More sharing options...
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