So how is the economy?

speechlesstx · Oct 21, 2008, 02:39 PM

McCain was lambasted, lampooned and harpooned over saying the fundamentals of the economy were strong. Looks like Barney Frank agrees with him.

Quote:

Barney Frank: 'The Fundamentals Are Better Than the Psychology'
Photo of Mark Finkelstein.
By Mark Finkelstein (Bio | Archive)
October 20, 2008 - 20:25 ET

Shades of McCain from an unlikely corner . . .

When at the beginning of the current financial mess John McCain declared that "the fundamentals of the economy are strong," he was roundly lambasted by the MSM, while the Obama campaign called his statement "an enormous mistake."

So, should we expect the liberal media and the Obama campaign to go after Barney Frank . . . now that he has said something remarkably similar? Discussing the markets with Maria Bartiromo on CNBC this afternoon, Frank declared: "I think it's clear that the fundamentals are better than the psychology."

View video here.

While he was at it, Frank echoed McCain on another important issue. Like the Republican candidate, the Dem chairman of the House Financial Services Committee indicated it would be a mistake in the current economic climate to raise taxes on the richest Americans, as Obama has proposed.

MARIA BARTIROMO: So you agree: taxes should go up, then, on the top earners, even in this slow environment.

BARNEY FRANK: No. Not right away. I want to wait a year.

BARTIROMO: Will you ask [Obama] to push the plan back then? Because he wants to raise taxes as soon as he gets in office, correct?

FRANK: Well, I do not think he has said recently he's going to do it as soon as he gets in office.

Really? When Obama told Joe the Plumber he wants to "spread the wealth around," there was nothing to indicate he meant later, not now. The official Obama website similarly suggests nothing about a delay:

Obama will ask the wealthiest 2% of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility.

Obama might have Colin Powell, but McCain has Frank! To be sure, the Dem congressman expressed formal support for Obama, but on the big economic issues of the day, Barney was singing John's song.

Barney agrees with McCain on the economy, Biden agrees that McCain is more qualified to be president, just who is on Obama's side in his own party? And why is Newsbusters the only one reporting this? A Google News search just now yielded one hit, Newsbusters.

letmetellu · Oct 22, 2008, 06:44 PM

Quote:

Originally Posted by excon

Hello wrongwingers:

Now, I'm not a fellow who likes to pay taxes...... But, YOUR REPUBLICAN president, the esteemed dufus in chief, just GAVE away $700 BILLION or so, of YOUR tax dollars.

Don't you think you have to pay it back???? No, you don't, do you?

excon

I think you got it wrong, it was your demo congress that did the giving away, including what looks like is going to be our next President ( Obama ). And they were just trying to stop the bleeding from a wound inflicted by your last President ( Clinton ).

And as far as paying it back I will not have to pay it back, it will be paid back by my and your grandchildren, if it is ever paid back at all.

Or it could be paid by China, then that would increase our debt to them enough so they could just do a takeover of this country for the money we owe them.

letmetellu · Oct 22, 2008, 06:50 PM

Quote:

Originally Posted by excon

Hello again, tom:

Well, as long as we're divvying up the spoils, instead of paying back what we borrowed, I think the rich have enough, thank you very much.

And, nooooo. I don't think we should "spread it around", unless you think fixing that bridge you drive on every day is "spreading it around". But, of course, you guy's aren't speaking English right now. You're speaking political speak, where "spreading it around" is code for don't vote for the black guy.

excon

Why can't you just let the race issue die a natural death. Each time it seem as though it could be loosing ground someone like you gives it another breath of fresh air.

inthebox · Oct 22, 2008, 07:45 PM

Quote:

Originally Posted by BABRAM

You blame the MSM for McCain ignorantly shooting his mouth off?! Tom your point to defend a character "Joe the plumber," (on behalf of McCain) when he owes $1,182 in personal incomes taxes is a bit asinine. I said he owes taxes and you don't deny that fact. What makes it worse is the guy is a shade tree plumber that wants to own a business. Whoop-tee-do! Personally I'd rather have a professional plumber, or I'll just do it myself. In fact, according to how John McCain stressed "Joe the plumber" as example in the debate, I'm a plumber desiring entrepreneurship using those same standards. I've got to go. Peace out!

So Joe has taxes to pay for .

He is not the only one

Rangel says he won't quit House panel over tax dispute - CNN.com

Quote:

Rep. Charles Rangel, a New York Democrat, said Wednesday he will not step down as chairman of the powerful House Ways and Means Committee in the face of a call from the Republican leader in the House for him to do so.

Rangel has been under fire for failing to report income from a rental property he owns in the Dominican Republic.

He admitted Tuesday he had not paid tax on the income,....

inthebox · Oct 22, 2008, 07:56 PM

Quote:

Originally Posted by excon

Hello again, tom:

Even libertarians understand that government has to be paid for. But, as long as we don't have a FLAT tax, the burden to pay is shifted around for political expediency.

So, as long as politicians can manipulate taxes, so as to reward the richest of the rich, at the expense of the poorest of the poor, I'm all for picking that rich guys pocket - YES SIR.

But, in truth, we'd be just retrieving what was plundered, and I'm ALL for that. So, I'm not talking about TAXES. I'm talking about RESTITUTION.

excon

Have you any idea how "progressive" the tax rates are?

2007 Federal Tax Rate Schedules

The Tax Foundation - Summary of Latest Federal Individual Income Tax Data

open the attachment and under:

"Total Income Tax Shares, 1980-2006 (Percent of federal income tax paid by each group)"

for 2006 the bottom 50% paid 3 % of the country's income taxes, the top 50% paid 97%.

the top 25% paid 84% of the country's income taxes.

magprob · Oct 22, 2008, 10:09 PM

The economy must be fine. We keep printing money like, well, like I dodn't know what. No one in history has ever done it like this before except Germany. They ended up turning into a military state that tried to take over the world. Seems it had something to do with wheel barrows full of money not being enough to buy a loaf of bread or something. Sounds silly to me! That will never happen to us. We have gotten so good at printing money that when we print a few trillion more, the value of the dollar actually goes up. Now that is a trick worth knowing! But hey, as long as the rest of the world thinks the dollar is worth something, we should keep printing them. And when the dollar finally crashes, we can either create a whole new currency or just go cashless. Numbers in a computer are just as valuable. Easier to control too. No more of this "under the table" hanky panky. Then we will all pay our fair share of taxes because that is the patriotic thing to do.

BABRAM · Oct 23, 2008, 03:30 PM

Quote:

Originally Posted by inthebox

So Joe has taxes to pay for .

He is not the only one.

These rebuttals are becoming even more asinine. McCain, in front of a live national audience would had better suited to have chosen myself, as an example. I don't owe back taxes and neither does most Americans. I certainly hope you don't either.

speechlesstx · Oct 24, 2008, 07:11 AM

What’s asinine is how Obama supporters have so suddenly changed their minds. When Gwen Ifill had an apparent conflict of interest in moderating the debate you guys told us it was the answers, not the questioner that mattered. Obama comes to a guy’s neighborhood so he asks him a question, Obama answered honestly for a change and now the questioner must be destroyed. What a bunch of hypocrites.

It doesn’t matter if Joe the Plumber owes a thousand bucks in back taxes, maybe he had a good reason, unexpected medical bills, car broke down, had to replace his heater and had to choose between heat and paying his taxes. Who knows? So what if he doesn’t have a plumbing license, for having an American dream of succeeding in business on his own instead of adhering to Obama’s collectivist dream of “economic justice” he’s being crucified. You people ought to be ashamed.

inthebox · Oct 24, 2008, 06:27 PM

Quote:

Originally Posted by BABRAM

These rebuttals are becoming even more asinine. McCain, in front of a live national audience would had better suited to have chosen myself, as an example. I don't owe back taxes and neither does most Americans. I certainly hope you don't either.

Are you moralizing for Rangle - an elected official - chairman of the house ways and means?

If anyone should no about tax revenue and the law it should be him

BABRAM · Oct 24, 2008, 07:38 PM

Inthebox, you boxed yourself in...again. John McCain used "Joe the Plumber" on issue, not Rangel.

Steve, Gwen Ifil did a excellent job as moderator by most news commentators and campaigners accounts, both Republican and Democrat. Fifth graders can come up with better excuses than you. John McCain didn't win one debate out of three opportunities. Not one! When the maverick in that last debate chose to spend a fair portion of allotted time on "Joe the Plumber" (which turned out to be poor example) rather than just answer the questions, it's his own mistake. The "you people" didn't tell Joe not to pay his taxes, nor did we advise McCain to use him as an example on live national television. Next time you're in front of judge try screaming "I've been crucified," and see how that works out for you.

tomder55 · Oct 25, 2008, 02:05 AM

Joe the Plumber did America a valuable service. He exposed Obama's destroy capital agenda.

Quote:

Higher taxes on successful entrepreneurs (anyone earning over $250,000), higher taxes on capital gains, higher taxes on dividends, a possible raid on Americans' 401(k)s, a takeover of America's private health care industry, strict new limits on what CEOs can make, and the reimposition of the death tax.
Add it up, and Obama will usher in a new era in America — one where capital, the engine of our economic growth and success, is punished severely through the tax code. If Democrats win a filibuster-proof majority in Congress, it'll be the only form of capital punishment their party will support.

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Capital Punishment#