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President: 'Every American will suffer' if debt deal not reached
The Hill ^

Posted on 07/22/2011 10:30:20 AM PDT by Sub-Driver

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To: ml/nj
> Obama said he wants "everybody to be able to be a millionaire" and that his efforts for a balanced plan are "not about punishing wealth."

"This isn't some wild-eyed socialist position."

The top 1% pay well over half of the tax revenues. The bottom 51% pay nothing. Now how did you say you wanted to share the sacrifice?

Here is how tax incentives work: You get less of what you tax and more of what you subsidize. Your *socialist* redistributive policies will produce fewer job-creating millionaires and even more people at the bottom with no incentive to work or better themselves.

.

41 posted on 07/22/2011 10:58:51 AM PDT by bobk333
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To: Sub-Driver
Oh come on, ZerO, you and Michelle and your elite buddies won't suffer. It'll just be us taxpayers that will suffer.

Of course, we've been suffering and will continue to suffer simply because you are in office and the Senate is being controlled by a bunch of liberal nutballs.

42 posted on 07/22/2011 10:59:55 AM PDT by MEGoody (Ye shall know the truth, and the truth shall make you free.)
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To: Sub-Driver
"We pay our bills. We meet our obligations."

Hey Barkey, I have a news flash for ya. We pay our bills too, but we don't use our VISA card to pay off the MASTER CARD or other credit card. We can ax our bosses for more money, but would get laughed out of the office.

43 posted on 07/22/2011 10:59:55 AM PDT by Arrowhead1952 (zero hates Texas and we hate him back. He ain't my president either.)
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To: GOPJ

“Well there must still be money available,” the wife says “because I still have more checks!”


44 posted on 07/22/2011 11:00:12 AM PDT by cotton1706
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To: MrB

Redistribution you can believe in™.


45 posted on 07/22/2011 11:01:32 AM PDT by liberalh8ter
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To: Sub-Driver

No, Mr. Jackass!
You and your socialist agenda will suffer!

Republicans gave you and Harry a plan to raise the ceiling but YOU refused to compromise on raising taxes!


46 posted on 07/22/2011 11:01:43 AM PDT by G Larry (I dream of a day when a man is judged by the content of his character)
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To: Sub-Driver

Since the fedgov is in all transactions, you could not tax the income of the wealthiest, and the fedgov would still get all the money, assuming the wealthiest didn’t just keep their money in their mattress.

As they put it in the bank or market, that money would go out in loans or salaries or expense. From there, it would be taxed until it was all in the fedgov

Raising taxes does not bring any more money into the system. Only a change in the trade deficit will do that (or 0bamas printing press)


47 posted on 07/22/2011 11:02:35 AM PDT by sten (fighting tyranny never goes out of style)
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To: Sub-Driver

Absolute incoherent babbling.
READ off the teleprompter,cut 4 trillion, where,what,
raise taxes on the rich,who are the rich? Is that anyone who has a mortgage,donates to charity,pays state income tax,pays medical bills?
The man child is a raving lunatic that’s why he went to commieville Maryland,well we are going to see what happens when the debt ceiling does not get extended. I hope this putz gets buried in the polls


48 posted on 07/22/2011 11:03:37 AM PDT by ballplayer
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To: Sub-Driver

Screw him.I want us to default causing the gubmint to automatically cut spending 45%. Thats how you cut this bloated monster of a gubmint.So our interest rates go up well then I guess they will have to cut gubmint further to cover the rise in interest rates.We aint buying the sky is falling, barry.


49 posted on 07/22/2011 11:03:47 AM PDT by HANG THE EXPENSE (Life is tough.It's tougher when you're stupid.)
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To: Sub-Driver
Oh, No!

PimpDaddy Barry won't be sitting in the Oval Office writing all those checks to send out to all us folks who need the government to survive.


50 posted on 07/22/2011 11:07:15 AM PDT by N. Theknow (Obama and the Dems - The flash mob raiding the Treasury.)
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To: Sub-Driver

"Uh ... nice little country you got there America. Be a shame if something bad happened to it ...."
51 posted on 07/22/2011 11:08:13 AM PDT by Servant of the Cross (the Truth will set you free)
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To: Sub-Driver
"we have never defaulted on our debt — we're not going to do it now."

And by "never", of course, he means except in 1790, 1862, 1934, and 1979.

52 posted on 07/22/2011 11:09:47 AM PDT by Anitius Severinus Boethius
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To: apillar
Well, Technically no. Since a debt default is predicted to cause interest rates to soar. If you have zero debt (no auto loans, no mortgages, no credit cards) and most of your wealth is in some investment that is tied to interest rates. Then you could actually end up making out like a bandit in a debt default.

Question about higher interest rates: Wouldn't a raise in rates just affect variable rate mortgages and credit cards, new home loans and purchases; but not fixed rates on current loans?

No one can afford to buy anything anyway,so this would seem like an interesting and well needed adjustment to separate the wheat from the chaff.

Obviously I am no economist, but higher rates do not scare me. In fact, I think it would be a mistake to pass a bad debt deal just to save interest rates.

53 posted on 07/22/2011 11:14:30 AM PDT by KittenClaws (A closed mouth gathers no foot.)
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To: Sub-Driver
Uh.........we're already suffering Barry....

EXACTLY!!

Boehner, vote again on CCB in the House but include even more cuts and send THAT on its way to the Senate!



Let's get it on!!!


54 posted on 07/22/2011 11:14:55 AM PDT by Eagle of Liberty (Shaking My Head on a daily basis)
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To: Sub-Driver

Fine. Lobby for and sign “Cap, Cut, and Balance.”


55 posted on 07/22/2011 11:15:39 AM PDT by Little Ray (Best Conservative in the Primary; AGAINST Obama in the General.)
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To: cotton1706

While some might think your comment is funny, a friend of mine had a (now ex-) wife who did this to the tune of $25K. “I have checks in the book, the card always worked too”.

We have become a nation of 51% imbeciles.


56 posted on 07/22/2011 11:20:01 AM PDT by Finatic (I ran out of change and have given up on hope. FUBO, I am so sick of your sorry a$$ you effin punk)
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To: Sub-Driver

Every American will suffer if a deal is not reached - for once Obama told the truth.

Of course, as with most socialists, the community organizer left out an important detail: Every American will suffer far more if a wasteful deal with too much spending is reached.


57 posted on 07/22/2011 11:20:48 AM PDT by Pollster1 (Natural born citizen of the USA, with the birth certificate to prove it)
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To: Sub-Driver
Well tell those NOT suffering to "come on in"... the water's fine.

I'll survive, but will your candy ass make it?

Actually, I think it's all a scare tactic to make those suffering believe that's it WILL get worse unless the debt limit is raised.. so take your medicine by raising the debt... and oh yes, eat your peas.!

Obozo is a TRUE FAILURE as a so called leader.

58 posted on 07/22/2011 11:21:18 AM PDT by VideoDoctor
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To: sten
Raising taxes does not bring any more money into the system. Only a change in the trade deficit will do that (or 0bamas printing press)

And, as Speaker of the House, I would tell Obama VERY PUBLICLY that, "If you want more tax revenue, UNSHACKLE THE PRIVATE SECTOR and the jobs created will create more tax paying people that are both working AND generating FED revenue!"
59 posted on 07/22/2011 11:22:43 AM PDT by Eagle of Liberty (Shaking My Head on a daily basis)
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To: Finatic

Good grief!!


60 posted on 07/22/2011 11:25:24 AM PDT by cotton1706
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