Rangel And Reality

IBD Editorials ^ | November 17, 2008

[Kaslin]

Fiscal Policy: With liberal Democrats set to run Washington, you'd expect big tax-increase talk. But House Ways and Means Committee Chairman Charles Rangel doesn't want a depression with his name on it.

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Three years ago, when the economy was booming under Republican governance of both the White House and Congress, veteran Harlem congressman Rangel accused President Bush of "destroying the fabric of America with a combined policy of war, tax cuts for the wealthy, and reductions in spending for domestic needs."

Now, when the Democrat-dominated 111th Congress begins in January, and Rangel resumes his chairmanship of the panel from which all tax legislation must originate, he will be dealing with a president who has promised to intensify the war in Afghanistan, reduce corporate taxes and undertake a line-by-line search for things to cut out of the federal budget.

The Congress of which he is a key leader will also be faced with the continued management of a financial crisis of historic proportions. So isn't it funny that in the midst of such a serious emergency, when congressmen are worrying about going down in the history books as the next Herbert Hoover, Sen. Smoot or Rep. Hawley, even inner-city liberals will turn to that tried-and-true economic medicine — allowing businesses to keep more of their own money.

[prairiebreeze]

read in AM

[TribalPrincess2U]

Must put comments here... sort of goes with this story, I think. -Rush

The Drive-Bys led by Chris Matthews go ballistic that Rush accurately labels this the Obama recession, and ties the stock market plunge to fears over higher taxes — especially those on capital gains.

Pearl of Wisdom: “Our subprime mortgage debacle has led to this global mess. So it’s not only correct to say that this is the Obama recession, it’d be even more accurate to say that the worldwide recession has been brought on by the Democrat Party.”

Will Obama close down Guantanamo Bay? He promised to, and Rush thinks he will, but there’s also a chance he’ll keep it open after making some changes. Don’t forget: the press will always let Obama blame Bush.

Pearl of Wisdom: “If Obama shuts down Club Gitmo, I’m going to give it a name. We’re going to call it The Terrorist Bailout Plan. We’re essentially going to bail these people out. In fact, we’ll probably make a settlement with them before any lawsuit.”

[perfect_rovian_storm]

BS. They think that their stupid ideas like ‘growing the economy from the bottom up’ will actually work.

Here’s a secret for Charlie: Just letting the Bush tax cuts expire is going to cause a huge economic downturn on top of the one we already have. So, if you don’t want a depression with your name on it, a quick conversion is in order. Somehow, I doubt that conversion will actually take place.

It amazes me how many idiots voted for these people, actually thinking that they wouldn’t do the very things that they’ve been saying they would do for all these years. Well, welcome to reality, morons. The lunatics aren’t going to stop being lunatics just because you give them control of the asylum.

[doc1019]

Rangel And Reality

Words I thought I would never see grouped together. ;-)

[LeonardFMason]

Please any thread in the future involving Rangel must include the picture of him lounging like a beached whale at his island retreat.

[Kaslin]

As I have said so many times, Anyone who believes the economy is better under the democRats needs to seriously see a psychiatrist.

the left always claims the economy was great under Clinton, but what they forget or ignore is that the republicans had the majority in the House. But when the liberals took over in January 2007 the downturn started soon after.

[Semperfiwife]

As a very small business owner, I have given some thought to Obama’s plan to “grow wealth from the bottom up”. The employee who makes the least in my company will now run the business. She has no executive experience or purchasing knowhow. Her attendance record has been less than stellar, missing an average of two days per week, but that will not matter once she owns and runs the company. I doubt she will show up any more as the person who bears the responsibility for the success or failure of my business as she has more excuses than I have ever heard in thirty years of business and will probably crumble under the demands my business has. It will probably go under with her in charge and I will have chosen to let the bottom run things, Obama will have zero taxes coming from my business and now he has TWO more people looking for a bailout in the form of unemployment, etc. (BTW, she is no longer in my employ, you can’t miss that many days and still call yourself employed)