Posted on 09/13/2008 7:16:08 PM PDT by TigerLikesRooster
Gloom deepens as America’s debt piles up
Irwin Stelzer: American Account
The great clunking fist has struck again, or almost. This time it was aimed at the chin of John McCain, who just might be the next president of America. Fortunately, McCain has proved he can take such a blow, so his staff confined its reaction to polite enquiries of Britain’s ambassador, Sir Nigel Sheinwald, asking: “What the devil is the British prime minister doing endorsing the economic programme of Barack Obama?”
Not that it much matters. The McCain team knows that Brown is largely responsible for the mess in which the British economy finds itself. That makes his support for Obama’s economic plans about as useful as feathers on a fish, to borrow a phrase coined by congressman John Dingell in another connection.
The differences between Obama-Brown and McCain are far from trivial. Obama wants to raise taxes on families earning more than $250,000 a year, and on their dividends and capital gains, to support a redistributionist cheque of $1,000 to each of the 95% of Americans not in the top bracket. He would take the tax rate on high earners to about the UK level of 40%. Brown naturally leans more towards Obama than a tax-cutter like McCain.
Otherwise, it is difficult to understand the attractiveness of Obama’s economic programme to the prime minister, with the possible exception of the Illinois senator’s proposal — since withdrawn — to provide relief for some hard-pressed homeowners. Brown famously stole the Tories’ clothes by proposing reductions in inheritance tax; Obama proposes to raise it. Brown believes union members should be protected from their leaders by being entitled to a secret ballot; Obama favours stripping America’s union members of that protection.
(Excerpt) Read more at business.timesonline.co.uk ...
I’ve got a bunch of friends from London, same thing. Their liberalism is being challenged by the encroachment of radical Muslims though.
to read in AM
They should just raise the cap to one million...it is coming anyway...just do it and get it overwith. Politicians are raising it incrementally anyway. Sadly the cap will be one million soon.
The federal government in 2008-09 expects receipts of $313 billion and expenditures of $288 billion. We have no federal net debt (thanks to the previous government).
We need to cut back the welfare and general government services (whatever the hell that is), boost defence, and cut taxes.
Revenue
Expenditure
Do you think that will happen?
Someone may be lieing.
Maybe. Depends on the mood and condition of the nation. I’m still voting McCain/Palin.
Thanks.
OUTSTANDING “ABOUT” PAGE. Very nice!!
Keep on keepin’ on.
You need proof?
Fair enough. Just make sure you know exactly what you're getting, and remember that Palin won't get a shot at being President until after the 2012 elections, at the earliest.
Frankly, no. If we have another mega-depression, we’ll probably leap (further) into socialism, rather than fix the real problem (i.e. socialism).
Congress has wasted money for years and the voters are to blame.
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