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ZOT! The 400 Richest Americans Pay An 18% Tax Rate
Forbes ^

Posted on 07/26/2011 11:01:49 AM PDT by moshiach

The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam. Today, they pay 18% on the average.

The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush in 2003, taking the rate paid on dividends and capital gains down to 15%.

(Excerpt) Read more at blogs.forbes.com ...


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KEYWORDS: 1youranidiot; 2youareatroll; 3youreaditwrong; 4ibtz; commie; commiepinko; demoncrat; du; duer; dumpdenizen; gobacktodu; hesdeadjim; iatz; ibtz; itsnotyourmoney; kittybait; marxists; noob; obamabot; obamavoter; obamazombie; richamericans; stfunoob; taxdebt; taxes; troll; victorkilo; vikingkitties; youcantread; zot; zuluoscartango; zzzzzzzzzzzzzzzzzzot
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For those who work for a living, you pay 81% of the bills of your country. For those who do not work for a living (but own the majority of the U.S. wealth) they pay 10% of the bills.

81% of paying our Nation's bills on our backs. Only time we catch a break is when less bills are put on our backs.

DON'T RAISE THE DEBT CEILING.

1 posted on 07/26/2011 11:01:54 AM PDT by moshiach
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To: moshiach; Jim Robinson

ibtz! get him jim!


2 posted on 07/26/2011 11:03:15 AM PDT by library user (Just because you're homeless doesn't mean you're lazy.)
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To: moshiach

50% pay NOTHING, so that means that other 50% are paying for everything.


3 posted on 07/26/2011 11:05:18 AM PDT by TexasFreeper2009 (Obama = Epic Fail)
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To: moshiach

These people feed the economy. Giving it to government is the least effective way to feed it.


4 posted on 07/26/2011 11:05:43 AM PDT by Sacajaweau
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To: moshiach

Apples and oranges game. Capital gains and dividend taxes are not income taxes.


5 posted on 07/26/2011 11:05:43 AM PDT by mnehring
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To: moshiach

“For those who do not work for a living (but own the majority of the U.S. wealth) they pay 10% of the bills.”

Uh, what makes you think they dont work? Are they unemployed?

And 18% of a 20 million income is a lot more than you make in several decades.


6 posted on 07/26/2011 11:05:51 AM PDT by VanDeKoik (1 million in stimulus dollars paid for this tagline!)
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To: moshiach

Of that 40% do we know how much all of them earn? Because a good portion of those “individuals” don’t pay a dime. You can’t make broad generalizations.

Cindie


7 posted on 07/26/2011 11:07:29 AM PDT by gardencatz (Proud mom US Marine! It can't always be someone else's son.)
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To: moshiach
In related news...

The 400 Most Socialist Trolls get Zotted 100% of the Time

8 posted on 07/26/2011 11:07:29 AM PDT by keat
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To: TexasFreeper2009

No federal income tax, you mean. Those sluggos still pay the payroll tax, but that doesn’t do anything to ease the deficit.


9 posted on 07/26/2011 11:08:41 AM PDT by RexBeach (Mr. Obama can't count.)
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To: moshiach; 50mm; darkwing104; Jim Robinson; Admin Moderator
GOODBYE TROLL!

You have GOT to be Carl, A brainwashed 24 year old or definately of his ilk.

IBTZ!

10 posted on 07/26/2011 11:09:05 AM PDT by DCBryan1 (Forget the Lawyers....first kill the journalists! - Die Ritter, die sagen, nee)
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To: moshiach
For those who do not work for a living (but own the majority of the U.S. wealth) they pay 10% of the bills.

You are a horses ass and economically illiterate. To go into an explanation of your ignorance would give me carpel tunnel.

IBTZ. Zot you later you Commie Pinko Troll.


11 posted on 07/26/2011 11:09:30 AM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: moshiach

So?

Unless “the rich” use more government, they should not only NOT pay a higher tax rate, they should not even be paying more in actual dollars than everyone else.

What has one’s income, or asset base got to do with how much of the government overhead they should be paying for?


12 posted on 07/26/2011 11:09:52 AM PDT by EyeGuy (2012: When the Levee Breaks)
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To: moshiach

flat tax right now with a consumption tax ... nobody gets by without paying


13 posted on 07/26/2011 11:09:53 AM PDT by Why So Serious
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To: moshiach
For those who do not work for a living (but own the majority of the U.S. wealth) they pay 10% of the bills.

You do realize that they pay most of the salaries in the country, right? Their investment money is what keeps stocks up, provides start-up capital for small businesses, put money into good ideas, and basically provide the fuel that the engine of American business runs on.

So while they may not "work" at a 9 to 5 job, they do wisely choose where to invest, which leads to many more people working a 9 to 5 job.

Short-sighted, one-step-ahead vision is usually found on the socialist side of an argument.

14 posted on 07/26/2011 11:09:52 AM PDT by Anitius Severinus Boethius
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To: moshiach

i had this argument with a looney liberal not to long ago who was whining about the same thing....

fact is even though they pay an 18% rate they are still paying twice as much $$$ in taxes compared to 15 years ago when their rate was 30%....the increase in 12% tax rate for the top 400 would amount to $3billion in revenues annually based on the numbers the lunatic leftist gave me...

so i told the looney liberal that i would take up the cause of raising the rates of the wealthiest 400 back to 30% just as long as he and his friends started to push for the 63.5million Americans who pay $0.00 in federal income tax annually to kick in at least $1000 per year...

you could hear the crickets a mile away...


15 posted on 07/26/2011 11:10:34 AM PDT by God luvs America (63.5million pay no federal income tax then vote demoKrat)
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To: moshiach
The 400 Richest Americans Pay An 18% Tax Rate

On their income but that is only part of the story! You should ask also how much do these same folks take in that does not qualify as "income" under the current tax code!

We are taxing on the WRONG END! We should be taxing consumption not income!

16 posted on 07/26/2011 11:10:37 AM PDT by Bigun ("The most fearsome words in the English language are I'm from the government and I'm here to help!")
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To: library user
Moshiach-Hebrew, noun. "Annointed one".

Is that you, Mr. Manchurian Candidate POS commie POTUS?

17 posted on 07/26/2011 11:12:41 AM PDT by DCBryan1 (Forget the Lawyers....first kill the journalists! - Die Ritter, die sagen, nee)
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To: moshiach

No one should pay more than 10% in taxes, period.

Further, if the government wants people to pay more on investments, then they need to tax government bond interest.

Why don’t they? Because then they would have to compete with private bond rates.


18 posted on 07/26/2011 11:13:29 AM PDT by SampleMan (If all of the people currently oppressed shared a common geography, bullets would already be flying.)
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To: moshiach
If you continued posting from the article:

This reduction in the investment class’s taxes powered the bull market in stocks from the fall of 2003 until the fall of 2007.

Cuts in capital gains taxes also fueled a boom in the Clinton years. The point in the article should be to cut rates again to fuel more economic growth. But, instead, we are told we should further harm economic growth under the guise of fairness.

Another point, what is the effective tax rate for almost half the population? That would be 0%.

Finally, the fallacy in the argument is the assumption that money invested was never "earned." Unless the person received a nice inheritance that money was earned and taxed. The taxes on the investment is a second round of taxation.

19 posted on 07/26/2011 11:13:52 AM PDT by Armando Guerra
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To: moshiach

I keep hearing that 40 to 50% of Americans pay no tax’s at all.

Where are all of these people?
I make less than $50,000 a year and I damned sure pay plenty. I take the Standard deduction each year and Obama wants to take that away from me.

The 40 to 50% who don’t pay anything are what is killing America. Not the Millionairs and Billionairs. Not only don’t they pay they take money away in the form of entitlements and they vote for politicians who have made a career of keeping them living in the style to which we have allowed them to become accustomed.Wide screen TV and an Escalade in the driveway.

No country can survive with half working and half supporting those who will not work.

Obama says he wouldn’t mind paying more. Well Mother Lover, send a check in. I can hardly afford gas to get to the Doctors office,I paid $6.18 for a half gallon of milk and a package of hamburger buns today, and this Chicago scumbag tells me there is no inflation.I am on a fixed income and don’t have any more to give.


20 posted on 07/26/2011 11:14:38 AM PDT by Venturer
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To: moshiach

The Bush Tax Cuts and the Deficit Myth —

Runaway government spending, not declining tax revenues, is the reason the U.S. faces dramatic budget shortfalls for years to come.

With Washington set to tax $33 trillion and spend $46 trillion over the next decade, how does one determine which policies “caused” the $13 trillion deficit? Mr. Obama could have just as easily singled out Social Security ($9.2 trillion over 10 years), antipoverty programs ($7 trillion), other Medicare spending ($5.4 trillion), net interest on the debt ($6.1 trillion), or nondefense discretionary spending ($7.5 trillion).

There’s no legitimate reason to single out the $4.7 trillion in tax cuts, war funding and the Medicare drug entitlement. A better methodology would focus on which programs are expanding and pushing the next decade’s deficit up.

Entitlements and other obligations are driving the deficits. Specifically, Social Security, Medicare, Medicaid and net interest costs are projected to rise by 5.4% of GDP between 2008 and 2020. The Bush tax cuts are a convenient scapegoat for past and future budget woes. But it is the dramatic upward arc of federal spending that is the root of the problem.

http://online.wsj.com/article/SB10001424052748704738404575347302831199046.html?mod=WSJ_Opinion_LEADTop

allowing President Bush’s tax cuts to retire, would be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.

Do the math :

Raising the 10% bracket to 15% represents what percentage of increase? Hint: The correct answer is NOT 5%.

Raising the 20% bracket to 25% represents what percentage of increase? Hint: The correct answer, again, is NOT 5%.

Finally, raising the 35% bracket to 39% represents what percentage of increase: Hint: The correct answer is NOT 4%.

Extra credit question: People in which tax bracket will see the largest percentage of increase in their taxes?

Extra extra credit question: People in which tax bracket will see the smallest percentage of increase in their taxes?

To those moving from the 35% to the 39% tax bracket...that’s roughly an 11% increase in taxes.

From 20% to 25%...that’s a full-blown 25% increase in taxes.

To those moving from the 10% bracket to 15%, their taxes will be increased by a whopping 50%.

So the low-income people get their taxes raised even more when seen as a percentage. And the rich folks lose a higher magnitude of money...but the percentage compared to what they already make is lower.


21 posted on 07/26/2011 11:15:49 AM PDT by WOBBLY BOB ( "I don't want the majority if we don't stand for something"- Jim Demint)
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To: moshiach

Hey dummy, you must have taken a wrong turn. Your groupies are back over there to the LEFT!


22 posted on 07/26/2011 11:16:17 AM PDT by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
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To: moshiach
How about a reply or two to some of these remarks Mosh? I guess you are to busy giggling over at DU about your post here.


23 posted on 07/26/2011 11:19:07 AM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: moshiach

Yeah, well I pay cap gains and dividend taxes too, and I am not rich!


24 posted on 07/26/2011 11:19:19 AM PDT by Huck
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To: moshiach
Maybe other people do it differently, but the money I RISK by investing in equities has already been taxed ONCE (when I made it.)

Then, if I'm fortunate and those equities appreciate, I'm taxed AGAIN when it's withdrawn as dividends or capital gains.

25 posted on 07/26/2011 11:21:10 AM PDT by Texan
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To: mnehring

I could never understand why the simple interest paid at a bank is fully taxed yet money from dividends and capital gains is given a break......


26 posted on 07/26/2011 11:22:19 AM PDT by cherry
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To: moshiach
I fall into the category of "not paying my fair share of taxes".

1) I had so many losses in 2008 and 2009 that I carried them forward.

2) Buying municipal bonds principly in 2010 and 2011 have me making TAX FREE INCOME.

STFU "annointed one", DU Troll.

27 posted on 07/26/2011 11:22:34 AM PDT by DCBryan1 (Forget the Lawyers....first kill the journalists! - Die Ritter, die sagen, nee)
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To: cherry

The latter encourages investment and growth. It is like planting seeds versus storing them.


28 posted on 07/26/2011 11:24:55 AM PDT by mnehring
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To: TexasFreeper2009

50% pay NOTHING, so that means that other 50% are paying for everything.

It is false to say that anyone pays nothing. Up until there was a federal income tax, no one payed anything. I guess that our nation was founded by a bunch of deadbeats. The point is, that all taxes are taxes and it’s dishonest to only include one type of taxto make any point. How many years have you gone without paying inheritance taxes? You rarely pay inheritance taxes? How unamerican.


29 posted on 07/26/2011 11:25:59 AM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: moshiach
For those who do not work for a living (but own the majority of the U.S. wealth) they pay 10% of the bills.

Where is a list of these people? I'd like to see who they are for myself.

30 posted on 07/26/2011 11:26:22 AM PDT by MEGoody (Ye shall know the truth, and the truth shall make you free.)
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To: moshiach

IBTZ

Jerkoff...


31 posted on 07/26/2011 11:27:10 AM PDT by Vendome ("Don't take life so seriously... You'll never live through it anyway")
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To: moshiach
"This reduction in the investment class’s taxes powered the bull market in stocks from the fall of 2003 until the fall of 2007."

This is a bad thing? Looks good to me!!!

32 posted on 07/26/2011 11:27:30 AM PDT by avacado
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To: moshiach
So ... 400 people pay 10% of the bills?

And what? You want those 400 people to pay even more?

Are ye daft, mon???

Who's your hero, Josef Stalin or Mao Tse Tung?

33 posted on 07/26/2011 11:27:56 AM PDT by ArrogantBustard (Western Civilization is Aborting, Buggering, and Contracepting itself out of existence.)
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To: moshiach

The tax on money people make by the sweat of their brow should not be taxed at a higher rate than the tax on capital gains.

It should be the other way around.

Maybe if we spread the wealth around a little bit by taxing the rich more (and $250K a year is not rich), the people who don’t make enough to pay taxes now, will make enough to pay taxes then.


34 posted on 07/26/2011 11:28:47 AM PDT by Age of Reason
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To: Venturer
"keep hearing that 40 to 50% of Americans pay no tax’s at all. Where are all of these people?"

Its really sort of a misnomer. Anyone who has a job pays income tax. (we aren't talking about contract labor and such) A Job is defined wherein you work for someone and fill out the IRS forms that deal with deductions. It means your employer takes out x number of dollars based on a formula etc.

So anyone with that type of a job pays income tax, but the government has fixed it so by way of the EIC (earned Income Tax Credit I believe its called) and other such things Folks below a certain income level actually get more refund back than they pay out in deductions.

Then of course you have the welfare class added into the mix. Another shocking issue is that you can make a fairly good income and still qualify for assistance from the government. Free or Reduced school lunch is one such program'

35 posted on 07/26/2011 11:30:13 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: moshiach

IBTZ.


36 posted on 07/26/2011 11:30:50 AM PDT by buccaneer81 (ECOMCON)
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To: moshiach

This isn’t an article, its a tweet. Its filled with misinformation. Even on its face its wrong. The capital gain tax rate was never 30%. It has never in modern times equaled the ordinary income rate. This “article” is not news or a fact. Its propaganda.


37 posted on 07/26/2011 11:31:15 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: Venturer

The 40 to 50% who don’t pay anything are what is killing America. Not the Millionairs and Billionairs.

I have to disagree with you on that one. Most of the billionaires are far left marxists who fund organizations which are dedicated to destroying America. Many others use government to fleece real Americans.


38 posted on 07/26/2011 11:32:06 AM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: moshiach

You joined on July 11th and you’re not even here a month and looking for a zot? In some respects, that’s impressive.


39 posted on 07/26/2011 11:32:42 AM PDT by MeganC (Are you better off than you were four years ago?)
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To: moshiach

IBTZ!!!!!


40 posted on 07/26/2011 11:33:01 AM PDT by mmanager
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To: cherry

I could never understand why the simple interest paid at a bank is fully taxed yet money from dividends and capital gains is given a break......

Because savings account interest is paid to people that don’t have political connections. It’s a rigged system.


41 posted on 07/26/2011 11:34:13 AM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: Venturer
Its frustrating knowing that those of us caught in the middle income brackets, and NOT receiving govt subsidies like fat pensions seem to pay for all of govt...

..I don't care what stats or figures or charts people come up with..

.I know that we pay tons of taxes from income, to SS to Medicare to phone to cars to fuel to property tax and the list goes on and on...

for that, we have lousy schools....parks that get closed to us....roads that need constant repair...libraries closing early...no free college scholarships because we make "too" much..

stats,charts, etc be damned.....the middle class wage earners are getting shafted....our way of living is decreasing while others are rapidly rising...the "poor" and the rich....I blame them both...

as long as drug reps, as an example, get to deduct their golfing vacations from their taxes because they "meet" with clients, then the tax system is giving the rich way more advantages than the rest of us...

I believe in working hard and getting rewarded....I believe in capitalism....but this country's tax system is shafting most of us....

42 posted on 07/26/2011 11:35:42 AM PDT by cherry
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To: moshiach

So this means that 12% difference can be spent on real products such as yachts, corporate jets, caviar, and champagne which will provide income for yachtmakers, plane builders, fishermen and grape pickers.


43 posted on 07/26/2011 11:35:59 AM PDT by arrogantsob (Why do They hate her so much?)
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To: moshiach

You sir are an idiot.


44 posted on 07/26/2011 11:36:38 AM PDT by Godzilla (3-7-77)
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To: moshiach

Two words: FLAT TAX


45 posted on 07/26/2011 11:42:38 AM PDT by comebacknewt ((on second thought, never mind, go away again Newt))
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To: moshiach
For those who do not work for a living (but own the majority of the U.S. wealth)...

That's a pretty pathetic assumption. Have you been educated far beyond your intelligence?

46 posted on 07/26/2011 11:42:46 AM PDT by Niteranger68 (Jared Lee Loughner - Disciple of Michael Moore)
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To: moshiach
Troll Troll
47 posted on 07/26/2011 11:44:45 AM PDT by mbynack (Retired USAF SMSgt)
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To: Age of Reason
"The tax on money people make by the sweat of their brow should not be taxed at a higher rate than the tax on capital gains."

Nice job on the Class warfare and introducing Socialist notions into the mix all in one fell swoop.

Here is an idea. How about no income tax at all and we only pay taxes when we buy something and it is only on new items in a place of business. If I sell my old guitar Uncle Sam nor the State of Ohio get squat (I already paid the taxes on it when I bought it!) Then we don't need deductions or tax brackets or tax lawyers. We don't need to hire accountants to deal with tax laws and instead we can have them help us deal with business issues like making more money by way of better management of our money.

As long as the Democrats are allowed to use taxes as a wedge issue we will have the mess we have now with overspending.

Repeal the Income Tax Amendment replace it with a Sales Tax Amendment and make it so the only way Congress can try and raise the rate is by "an eight thirds majority vote in both houses!" (translation: NEVER!)

48 posted on 07/26/2011 11:44:49 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: Venturer
Ironically the reason for the inflation, too much money being printed and borrowed. (I know it's not in our pockets.)

Fed Reserve lent out $16 Trillion dollars to financial institutions.

source: http://hotair.com/archives/2011/07/22/fed-audit-16-trillion-in-loans-to-banks-in-less-than-three-years

Its almost cliche to say the Federal Reserve is out of control.

We have one institution borrowing money like crazy (Congress) another institution printing money like crazy (Fed Reserve.) It all fuels inflation; the five dollar bill is the new one dollar bill.

2012 we need a new president who uses the veto pen often; pledging to veto all debt ceiling increases. And fire Bernanke.

49 posted on 07/26/2011 11:45:03 AM PDT by moshiach
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To: Niteranger68
That's a pretty pathetic assumption. Have you been educated far beyond your intelligence?

Apparently, and he's a sixth-grade dropout at that.

50 posted on 07/26/2011 11:45:28 AM PDT by dirtboy
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