Obama to address nation at 9 p.m. Eastern as stalemate on debt talks continues

bone · Jul 25, 2011

bone · Jul 25, 2011

Flat Tax - corporate and individual. No deductions. One percent national sales tax.

Balanced Budget Amendment with an 18 month exemption for armed conflict.

Done.

bone · Jul 25, 2011

Random P&L on your Capital, I have no earthly idea who riskarb is.

stock777 · Jul 25, 2011

Call the Secret Service. The Great Speaker must have been kidnapped, cause that was lame.

oldtime · Jul 25, 2011

Quote from bone:

Flat Tax - corporate and individual. No deductions. One percent national sales tax.

Balanced Budget Amendment with an 18 month exemption for armed conflict.

Done.

Can someone explain to me why corporations should be taxed at all?

Don't the democrats like the public?

Aren't all stocks on NYSE owned by the public?

Why are the corporations taxed?

If you sell at a profit or get a dividend, well then yes you as an individual should be taxed.

CEO? make 30m? then yes you should be taxed.

But why tax a business?

weewilly · Jul 25, 2011

Quote from bone:

Balanced Budget Amendment with an 18 month exemption for armed conflict.

Sadly, politicians would use a BBA as political cover to raise taxes.

Even those who are disinclined to raise taxes could hide behind a constitutional obligation to pay for all spending.

That's why I feel a BBA, although sound in principle, would not work in the hands of the politicians.

Bob111 · Jul 25, 2011

http://news.yahoo.com/buy-dollar-sinks-011544984.html

President Barack Obama said during a public address on Monday that the country could see its AAA debt downgraded unless the debt ceiling is raised by next Tuesday.

shhiiit..so to keep the AAA rating US have to borrow even more and bury itself in more debt? i thought it should be exact opposite-cut deficit,cut spending and keep AAA rating and value of the dollar..
sounds like a plan! thank you mister president! ask some folks from 2005-8 housing boom\bust how it's worked for them..

He warned that interest rates would go up as a result, hurting the economy.

about time..i'm sick and tired to see those 0.5% "high interest" checking accounts adds..and zero for my money at the bank

oldtime · Jul 25, 2011

Quote from weewilly:

Sadly, politicians would use a BBA as political cover to raise taxes.

Even those who are disinclined to raise taxes could hide behind a constitutional obligation to pay for all spending.

That's why I feel a BBA, although sound in principle, would not work in the hands of the politicians.

Not only that, sometimes it makes good fiscal sense to borrow money.

rc8222 · Jul 25, 2011

Obama is such a douche bag. Bye Bye to a second term loser boy!!!!

oldtime · Jul 25, 2011

Quote from Bob111:

http://news.yahoo.com/buy-dollar-sinks-011544984.html

shhiiit..so to keep the AAA rating US have to borrow even more and bury itself in more debt? i thought it should be exact opposite-cut deficit,cut spending and keep AAA rating and value of the dollar..
sounds like a plan! thank you mister president! ask some folks from 2005-8 housing boom\bust how it's worked for them..

about time..i'm sick and tired to see those 0.5% "high interest" checking accounts adds..and zero for my money at the bank

That's the one that cracks me up.

Moodys and S&P says, "If you don't borrow more money we are going to downgrade your credit."