114
   

Where is the US economy headed?

 
 
mysteryman
 
  1  
Reply Wed 23 Jul, 2008 01:22 pm
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
MM wrote:
How can we, when you admitted to being both senile AND an idiot?
Yes and when shiksa revealed that I lived on welfare I admitted to that as well. Knowing CI I would offer that he is neither senile nor an idiot but he is every bit as opinionated as most a2k posters (perhaps less so than I or you)


I am only quoting him.

He said...

Quote:
Posted: Tue Jul 22, 2008 20:31 Post: 3327717 -

--------------------------------------------------------------------------------
I have an excuse for being an idiot; I'm senile. But in your case, you have your full faculties and stupid.


And here is the link to him saying it...

http://www.able2know.org/forums/viewtopic.php?p=3327717#3327717

So dont blame me, I'm just quoting him.
i will blame you because it was more than obvious that CI was being sarcastic and YOU know that.


But you dont deny he said it??

As for you blaming me, since I am doing nothing more then quoting him, how can I be blamed for anything?
I have also said I have an 8th grade education, do you believe that?


No, because your stye of writing is to succint and to grammaticly correct to have only an 8th grade education.
0 Replies
 
Cycloptichorn
 
  1  
Reply Wed 23 Jul, 2008 01:23 pm
mysteryman wrote:
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
MM wrote:
How can we, when you admitted to being both senile AND an idiot?
Yes and when shiksa revealed that I lived on welfare I admitted to that as well. Knowing CI I would offer that he is neither senile nor an idiot but he is every bit as opinionated as most a2k posters (perhaps less so than I or you)


I am only quoting him.

He said...

Quote:
Posted: Tue Jul 22, 2008 20:31 Post: 3327717 -

--------------------------------------------------------------------------------
I have an excuse for being an idiot; I'm senile. But in your case, you have your full faculties and stupid.


And here is the link to him saying it...

http://www.able2know.org/forums/viewtopic.php?p=3327717#3327717

So dont blame me, I'm just quoting him.
i will blame you because it was more than obvious that CI was being sarcastic and YOU know that.


But you dont deny he said it??

As for you blaming me, since I am doing nothing more then quoting him, how can I be blamed for anything?
I have also said I have an 8th grade education, do you believe that?


No, because your stye of writing is to succint and to grammaticly correct to have only an 8th grade education.


Sarcasm? Must be sarcasm. Otherwise, it's too funny that you misspelled 'style' 'succinct' and 'grammatically,' as well as used 'to' instead of 'too' not once but twice.

Cycloptichorn
0 Replies
 
Advocate
 
  1  
Reply Wed 23 Jul, 2008 02:28 pm
The Reps here seem to worry about overtaxing the rich. They need not worry.





Richest Americans See
Their Income Share Grow
By JESSE DRUCKER
Wall Street Journal
July 23, 2008; Page A3

In a new sign of increasing inequality in the U.S., the richest 1% of Americans in 2006 garnered the highest share of the nation's adjusted gross income for two decades, and possibly the highest since 1929, according to Internal Revenue Service data.


Meanwhile, the average tax rate of the wealthiest 1% fell to its lowest level in at least 18 years. The group's share of the tax burden has risen, though not as quickly as its share of income.

The figures are from the IRS's income-statistics division and were posted on the agency's Web site last week. The 2006 data are the most recent available.

The figures about the relative income and tax rates of the wealthiest Americans come as the presumptive presidential candidates are in a debate about taxes. Congress and the next president will have to decide whether to extend several Bush-era tax cuts, including the 2003 reduction in tax rates on capital gains and dividends. Experts said those tax cuts in particular are playing a major role in falling tax rates for the very wealthy.

Sen. John McCain has proposed extending the lower tax rates of 15% on long-term capital gains and dividends that apply to most taxpayers, while Sen. Barack Obama has said he will seek to raise them to at least 20%, the rate before the 2003 cut, and possibly higher.

QUESTION OF THE DAY


• Vote: Do the rich pay their fair share of taxes?According to the figures, the richest 1% reported 22% of the nation's total adjusted gross income in 2006. That is up from 21.2% a year earlier, and is the highest in the 19 years that the IRS has kept strictly comparable figures. The 1988 level was 15.2%. Earlier IRS data show the last year the share of income belonging to the top 1% was at such a high level as it was in 2006 was in 1929, but changes in measuring income make a precise comparison difficult.

The average tax rate in 2006 for the top 1%, based on adjusted gross income, was 22.8%, down slightly from 2005 and the fifth straight year of declines. The average tax rate of this group was 28.9% in 1996, and was 24% in 1988.

As the wealthiest Americans' share of income has risen, so has their share of the income-tax burden. The group paid 39.9% of all income taxes in 2006, compared with 27.6% in 1988. In the most recently reported five years, however, the share of income reported by the very wealthy has risen faster than the group's share of income taxes.

The IRS data look only at so-called adjusted gross income, which is reported on tax returns, and focus only on income taxes. A report by the Congressional Budget Office late last year, which used wider definitions of both income and taxes, found similar trends.

Joel Slemrod, a tax economist at the University of Michigan's business school, said that some portion of the increase in income for the top 1% could stem from the increasing shift to entities such as partnerships, which means some income previously reported by businesses is now reported by individuals. Larger factors likely include changes in trade policy and other aspects of the increasingly global economy, he said.

Write to Jesse Drucker
0 Replies
 
teenyboone
 
  1  
Reply Thu 24 Jul, 2008 07:55 am
cicerone imposter wrote:
okie, Do you know how long ago Bill Cosby chastised the blacks? How much "progress" do you think his bully pulpit succeeded?

Then Bush comes along with NCLB, and greater percentages of black and Hispanic kids are dropping out of school. Standardized tests by age does not work; ask any educator. All children grow at different ages, and learn at different ages and speed. NCLB is a huge failure for transforming our schools into "learn the test" schooling. With the underfunded mandates came the dropping of electives such as music, art and athletics. Maybe not in your world, but those are HUGE sacrifices for all students.

Bill Cosby did Blacks a "diss-service"! Who in the hell does HE think HE is? No, white America is NOT the blame for ALL of our ills, but the progress made in the 70's, 80's and 90's were exacerbated by the influx of drugs into a community that doesn't bring them into the country.

So Cosby made it with the support of the Black community that supported HIM, but he is no paragon of virtue either, admitting he had an illicit affair, with a white woman and the child was extorting money from him, only to find out she wasn't his, anyway! Can you spell GUILT? Now he's patting himself on the shoulders for what? Putting DOWN Black people? # strike laws? A system set up, so that if you're Black and poor, the man has to be OUT of the picture to receive welfare? 2 million Blacks in jail, yet we're only 12% of the population? Grandfathered in jobs that YOU can't get unless a relative is employed? Discrimination against who gets in the Firemen and Police acadamies and I can go on and on, like are ALL black kids, special ed? Cosby can kiss my you know what, being the "Uncle Tom", he IS! Surprised at you, CI!

PS: Whites have had a 450 year Head Start, from when we were enslaved and reenslaved during Jim Crow, so 1 Black hired is a whole lot of integration and diversity, huh? Evil or Very Mad
0 Replies
 
cicerone imposter
 
  1  
Reply Thu 24 Jul, 2008 09:32 am
teenyboone, FYI, I only shared what was common knowledge about Bill Cosby's rant against blacks; I did not say whether he was right or wrong. That's for the reader to determine, not me.

If you've been reading any of my posts that has to do with discrimination (against anyone), you would know where I stand on most issues about race, gender, age, and all the other "groupings" man is so inclined to delineate.
0 Replies
 
okie
 
  1  
Reply Thu 24 Jul, 2008 09:41 am
teenyboone wrote:
cicerone imposter wrote:
okie, Do you know how long ago Bill Cosby chastised the blacks? How much "progress" do you think his bully pulpit succeeded?

Then Bush comes along with NCLB, and greater percentages of black and Hispanic kids are dropping out of school. Standardized tests by age does not work; ask any educator. All children grow at different ages, and learn at different ages and speed. NCLB is a huge failure for transforming our schools into "learn the test" schooling. With the underfunded mandates came the dropping of electives such as music, art and athletics. Maybe not in your world, but those are HUGE sacrifices for all students.

Bill Cosby did Blacks a "diss-service"! Who in the hell does HE think HE is? No, white America is NOT the blame for ALL of our ills, but the progress made in the 70's, 80's and 90's were exacerbated by the influx of drugs into a community that doesn't bring them into the country.

So Cosby made it with the support of the Black community that supported HIM, but he is no paragon of virtue either, admitting he had an illicit affair, with a white woman and the child was extorting money from him, only to find out she wasn't his, anyway! Can you spell GUILT? Now he's patting himself on the shoulders for what? Putting DOWN Black people? # strike laws? A system set up, so that if you're Black and poor, the man has to be OUT of the picture to receive welfare? 2 million Blacks in jail, yet we're only 12% of the population? Grandfathered in jobs that YOU can't get unless a relative is employed? Discrimination against who gets in the Firemen and Police acadamies and I can go on and on, like are ALL black kids, special ed? Cosby can kiss my you know what, being the "Uncle Tom", he IS! Surprised at you, CI!

PS: Whites have had a 450 year Head Start, from when we were enslaved and reenslaved during Jim Crow, so 1 Black hired is a whole lot of integration and diversity, huh? Evil or Very Mad

Nobody wants to be lectured to, do they teeny?

Are you going to teach your kids spanish?
0 Replies
 
mysteryman
 
  1  
Reply Thu 24 Jul, 2008 12:10 pm
Cycloptichorn wrote:
mysteryman wrote:
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
MM wrote:
How can we, when you admitted to being both senile AND an idiot?
Yes and when shiksa revealed that I lived on welfare I admitted to that as well. Knowing CI I would offer that he is neither senile nor an idiot but he is every bit as opinionated as most a2k posters (perhaps less so than I or you)


I am only quoting him.

He said...

Quote:
Posted: Tue Jul 22, 2008 20:31 Post: 3327717 -

--------------------------------------------------------------------------------
I have an excuse for being an idiot; I'm senile. But in your case, you have your full faculties and stupid.


And here is the link to him saying it...

http://www.able2know.org/forums/viewtopic.php?p=3327717#3327717

So dont blame me, I'm just quoting him.
i will blame you because it was more than obvious that CI was being sarcastic and YOU know that.


But you dont deny he said it??

As for you blaming me, since I am doing nothing more then quoting him, how can I be blamed for anything?
I have also said I have an 8th grade education, do you believe that?


No, because your stye of writing is to succint and to grammaticly correct to have only an 8th grade education.


Sarcasm? Must be sarcasm. Otherwise, it's too funny that you misspelled 'style' 'succinct' and 'grammatically,' as well as used 'to' instead of 'too' not once but twice.

Cycloptichorn
No, it wasnt sarcasm.
I had to type it fast because we were being toned out on a structure fire.

Sorry I thought that was more important then spellcheck.
0 Replies
 
cicerone imposter
 
  1  
Reply Thu 24 Jul, 2008 12:25 pm
0 Replies
 
Cycloptichorn
 
  1  
Reply Thu 24 Jul, 2008 12:26 pm
mysteryman wrote:
Cycloptichorn wrote:
mysteryman wrote:
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
mysteryman wrote:
dyslexia wrote:
MM wrote:
How can we, when you admitted to being both senile AND an idiot?
Yes and when shiksa revealed that I lived on welfare I admitted to that as well. Knowing CI I would offer that he is neither senile nor an idiot but he is every bit as opinionated as most a2k posters (perhaps less so than I or you)


I am only quoting him.

He said...

Quote:
Posted: Tue Jul 22, 2008 20:31 Post: 3327717 -

--------------------------------------------------------------------------------
I have an excuse for being an idiot; I'm senile. But in your case, you have your full faculties and stupid.


And here is the link to him saying it...

http://www.able2know.org/forums/viewtopic.php?p=3327717#3327717

So dont blame me, I'm just quoting him.
i will blame you because it was more than obvious that CI was being sarcastic and YOU know that.


But you dont deny he said it??

As for you blaming me, since I am doing nothing more then quoting him, how can I be blamed for anything?
I have also said I have an 8th grade education, do you believe that?


No, because your stye of writing is to succint and to grammaticly correct to have only an 8th grade education.


Sarcasm? Must be sarcasm. Otherwise, it's too funny that you misspelled 'style' 'succinct' and 'grammatically,' as well as used 'to' instead of 'too' not once but twice.

Cycloptichorn
No, it wasnt sarcasm.
I had to type it fast because we were being toned out on a structure fire.

Sorry I thought that was more important then spellcheck.


Laughing an immaterial excuse to an unintentionally funny post. You could have simply not posted until you got back.

Cycloptichorn
0 Replies
 
teenyboone
 
  1  
Reply Thu 24 Jul, 2008 05:02 pm
cicerone imposter wrote:
teenyboone, FYI, I only shared what was common knowledge about Bill Cosby's rant against blacks; I did not say whether he was right or wrong. That's for the reader to determine, not me.

If you've been reading any of my posts that has to do with discrimination (against anyone), you would know where I stand on most issues about race, gender, age, and all the other "groupings" man is so inclined to delineate.


CI:
You shared and I gave a Black opinion. Fair enough? That's how people I know interpret Cosby; a mean old, "holier than thou", bitter man! All that money and he had to have Alvin Poussant, Ph.D, by his side, although I think he only spoke two words! I wanted to shoot my TV, at this new version of Uncle Tom. Some Blacks are their own worse enemies! Besides Cosby, add, Jesse Jackson and Rev. Al! I can't stand them either! I'd be embarrassed to be in the same roome with any of them! Cool
0 Replies
 
teenyboone
 
  1  
Reply Thu 24 Jul, 2008 05:04 pm
okie wrote:
teenyboone wrote:
cicerone imposter wrote:
okie, Do you know how long ago Bill Cosby chastised the blacks? How much "progress" do you think his bully pulpit succeeded?

Then Bush comes along with NCLB, and greater percentages of black and Hispanic kids are dropping out of school. Standardized tests by age does not work; ask any educator. All children grow at different ages, and learn at different ages and speed. NCLB is a huge failure for transforming our schools into "learn the test" schooling. With the underfunded mandates came the dropping of electives such as music, art and athletics. Maybe not in your world, but those are HUGE sacrifices for all students.

Bill Cosby did Blacks a "diss-service"! Who in the hell does HE think HE is? No, white America is NOT the blame for ALL of our ills, but the progress made in the 70's, 80's and 90's were exacerbated by the influx of drugs into a community that doesn't bring them into the country.

So Cosby made it with the support of the Black community that supported HIM, but he is no paragon of virtue either, admitting he had an illicit affair, with a white woman and the child was extorting money from him, only to find out she wasn't his, anyway! Can you spell GUILT? Now he's patting himself on the shoulders for what? Putting DOWN Black people? # strike laws? A system set up, so that if you're Black and poor, the man has to be OUT of the picture to receive welfare? 2 million Blacks in jail, yet we're only 12% of the population? Grandfathered in jobs that YOU can't get unless a relative is employed? Discrimination against who gets in the Firemen and Police acadamies and I can go on and on, like are ALL black kids, special ed? Cosby can kiss my you know what, being the "Uncle Tom", he IS! Surprised at you, CI!

PS: Whites have had a 450 year Head Start, from when we were enslaved and reenslaved during Jim Crow, so 1 Black hired is a whole lot of integration and diversity, huh? Evil or Very Mad

Nobody wants to be lectured to, do they teeny?

Are you going to teach your kids spanish?

No, French! Cool
0 Replies
 
cicerone imposter
 
  1  
Reply Thu 24 Jul, 2008 05:19 pm
Our older so studied French for three years, and our younger son studied Spanish for three years. They both graduated with honors.
0 Replies
 
realjohnboy
 
  1  
Reply Thu 24 Jul, 2008 05:20 pm
If anyone here is still interested in the topic vs bashing each other:

The stock market early in the week was doing okay but today was not a good day. Major indices down about 2%
Blame was placed on the new jobless numbers (406,000), much more than the 375,000 expected. A fickle statistic, but still suggesting that things are not getting better. Job losses are spreading into the retail and other service sectors.
Ford announced a loss of $8.7B in the Q, which included a write down of some $8.1B in US operations. Plants will be closed (read jobs lost) while they retool from producing big cars/trucks to smaller vehicles.
Significant to me was the $2.1B writedown (included in the $8.1B) in the value of their "lease portfolio." A whole bunch of cars that they leased are coming back to the dealerships, flooding the used car market.

Finally, today, was the housing market. Existing home sales in June down 2.6% from May. 15.5% lower than May, 2007. Many or some people are not desperate to sell, but some may be. The "time on market" crept up. If that keeps rising, prices could continue to drop.
0 Replies
 
cicerone imposter
 
  1  
Reply Thu 24 Jul, 2008 05:25 pm
rjb, Thanks for the wrap-up on our economy; the topic of this thread. Also, the number of houses on the market is enough for 11-months, but I say one year, because those numbers keep increasing every day. Those numbers are going to continue to increase over the next several years, because that's the consequence of all those subprime loans still outstanding.

One woman committed suicde, because they lost their home. I'm afraid the "compassionate conservatives" doesn't feel they deserve some help from our government.
0 Replies
 
Cycloptichorn
 
  1  
Reply Thu 24 Jul, 2008 05:26 pm
WILL continue to drop. I have yet to see any indication that we are near the bottom, as tightened lending standards will most assuredly keep some potential buyers out of the market. Others will want the prices to drop as far as possible before buying, and why not?

Other then the National Realtors Association, I don't think anyone believes we are near the bottom.

Cycloptichorn
0 Replies
 
cicerone imposter
 
  1  
Reply Thu 24 Jul, 2008 05:33 pm
Cyclo, I've been looking at our economy, and came to the conclusion that the stock market (DOW) will hit close to 9,000 as this debacle hits bottom.
0 Replies
 
mysteryman
 
  1  
Reply Thu 24 Jul, 2008 10:30 pm
Teeny said...

Quote:
CI:
You shared and I gave a Black opinion. Fair enough?


No, you gave YOUR opinion.
Unless you are now presuming to speak for the whole black population of the country.

Are you?
0 Replies
 
hawkeye10
 
  1  
Reply Sat 26 Jul, 2008 12:09 pm
Quote:
Regulators Close Two More National Banks

By Alison Vekshin
Bloomberg News
Saturday, July 26, 2008; Page D01

First National Bank of Nevada and First Heritage Bank were closed by U.S. regulators yesterday, the first institutions to fail since regulators seized IndyMac Bancorp two weeks ago following a run by depositors.

First National Bank of Nevada, with $3.4 billion in assets, and California-based First Heritage Bank, which had $254 million in assets, were undercapitalized, the Office of the Comptroller of the Currency said last night in a statement. Mutual of Omaha Bank acquired their deposits, according to the Federal Deposit Insurance Corp., which was named the receiver.

...
http://www.washingtonpost.com/wp-dyn/content/article/2008/07/25/AR2008072503815.html?hpid=moreheadlines
0 Replies
 
cicerone imposter
 
  1  
Reply Sat 26 Jul, 2008 01:41 pm
We're only begun to see bank seizures by the government.
0 Replies
 
roger
 
  1  
Reply Sat 26 Jul, 2008 02:06 pm
realjohnboy wrote:
If anyone here is still interested in the topic vs bashing each other:


I'm still interested. In fact, I always take time to look in when you or hamburger are the most recent poster. There are others with interesting information and interpretations, of course, but I can get the personalities and politics elsewhere.
0 Replies
 
 

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