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Clinton: Bush should raise taxes to pay for recovery

MMike

A fowl peckerwood.
Sep 5, 2001
18,222
86
just sittin' here drinkin' scotch
http://www.cnn.com/2005/POLITICS/09/19/katrina.clinton/index.html

"I mean, sooner or later, just think what would happen if the Chinese -- we're pressing the Chinese now, a country not nearly as rich as America per capita, to keep loaning us money with low interest to cover my tax cut, Iran -- I mean Iraq, Afghanistan, and Katrina. And at the same time to raise the value of their currency so their imports into our country will become more expensive, and our exports to them will become less expensive."

He said the United States depends on Japan, China, Britain, Saudi Arabia and Korea "to basically loan us money every day of the year to cover my tax cut and these conflicts and Katrina."

"I don't think it makes any sense. I think it's wrong."

That's great... they're actually borrowing money for Iraq..... That's some sound economics..... Isn't there someone in that gov't with a little adding machine and a black plastic visor saying "uhhhhh. guys...."
 

narlus

Eastcoast Softcore
Staff member
Nov 7, 2001
24,638
26
behind the viewfinder
about the only thing i liked about the conservatives was their fiscal responsibility. bush has obviously blown that far out of the water since stepping foot into office. where's N8 w/ the deficit post now?
 

ohio

The Fresno Kid
Nov 26, 2001
6,638
4
SF, CA
narlus said:
about the only thing i liked about the conservatives was their fiscal responsibility. bush has obviously blown that far out of the water since stepping foot into office. where's N8 w/ the deficit post now?
It's funny that conservatives (well, really it was credit card companies pushing through the legislation, but the conservative congress was happy to oblige) enthusiastically changed our domestic bankruptcy laws just recently to be much much tighter, to encourage responsible borrowing at the individual level (of course, corporate law didn't change), but at the federal level we're like teenagers with daddy's plastic.
 

Silver

find me a tampon
Jul 20, 2002
10,846
0
Orange County, CA
ohio said:
It's funny that conservatives (well, really it was credit card companies pushing through the legislation, but the conservative congress was happy to oblige) enthusiastically changed our domestic bankruptcy laws just recently to be much much tighter, to encourage responsible borrowing at the individual level (of course, corporate law didn't change), but at the federal level we're like teenagers with daddy's plastic.
You know, the bankruptcy thing really pisses me off, and is a perfect example of how the corporate state really screws things up. The credit card companies knew the rules going in, and they still extended credit. That's why you underwrite stuff, right? To make sure you are making loans to people with acceptable credit risk. Using political clout to get that changed after the fact is rent seeking behavior in the worst way.
 

Silver

find me a tampon
Jul 20, 2002
10,846
0
Orange County, CA
narlus said:
about the only thing i liked about the conservatives was their fiscal responsibility. bush has obviously blown that far out of the water since stepping foot into office. where's N8 w/ the deficit post now?
Cough...Reagan.

Just like morality, the GOP has convinced enough people that they have the market cornered. Then they bend you over and **** you in the ass like a crooked priest.
 

ohio

The Fresno Kid
Nov 26, 2001
6,638
4
SF, CA
Silver said:
You know, the bankruptcy thing really pisses me off, and is a perfect example of how the corporate state really screws things up. The credit card companies knew the rules going in, and they still extended credit. That's why you underwrite stuff, right? To make sure you are making loans to people with acceptable credit risk. Using political clout to get that changed after the fact is rent seeking behavior in the worst way.
Hey, if you had could ride the wave of "personal responsibility" straight to the tune of ~$5 billion wouldn't YOU do it? I mean with all of these dead-beat borrowers and far-too-lenient bankruptcy laws the credit industry only pulled in a record ~$32 billion in profit last year. Thank god congress bailed them out, that industry could have easily gone under...
 

Silver

find me a tampon
Jul 20, 2002
10,846
0
Orange County, CA
ohio said:
Hey, if you had could ride the wave of "personal responsibility" straight to the tune of ~$5 billion wouldn't YOU do it? I mean with all of these dead-beat borrowers and far-too-lenient bankruptcy laws the credit industry only pulled in a record ~$32 billion in profit last year. Thank god congress bailed them out, that industry could have easily gone under...
That gets me thinking...along with the fact that most people in this country are convinced that the founding fathers were a bunch of Jesus freaks, they also seem to think that Adam Smith would be jumping for joy at current policies. After all, Republicans are for the free market, right?
 

Changleen

Paranoid Member
Jan 9, 2004
9,900
5
Hypernormality
I have a friend who often says "One day soon it's all going to come crashing down." I tend to disagree with him, but things like this make me think he might be right.
 

DirtyDog

Gang probed by the Golden Banana
Aug 2, 2005
6,599
0
i have an idea. no iraq. no second trip to the freakin moon. no more taxes.
 

Ciaran

Fear my banana
Apr 5, 2004
9,844
11
So Cal
Tax the rich. After all they have all the money. Leave us middle class working slobs alone. We can't even afford a house these days.
 

Changleen

Paranoid Member
Jan 9, 2004
9,900
5
Hypernormality
"We have never done this before. Never in the history of our republic have we ever financed a conflict, military conflict, by borrowing money from somewhere else."
It's all about personal greed. The very same thing very nearly happened in the election NZ just had. The National (right wing) party promised everyone a tax cut to the tune of $7Bn. Of course the rich did better out of it too. Fortunatley here in NZ 60% of people are still smart enough to see through a bribe like that and not fvck over the future prosperity of the country.
 

kinghami3

Future Turbo Monkey
Jun 1, 2004
2,240
0
Ballard 4 life.
This is the first US war where they have cut taxes at the same time. In other words, it's the first war where only a select few (mostly the poor) make a sacrifice (dies) and the rest of the country gets a tax break. And now we are on loan from China? I really hope I get to move to Scotland in a couple years.