Where is the US economy headed?

Parados's point is about corporations vs. individuals. Self-employed individuals are not corporations, yet they can make many of the same deductions as corporations can.

Thomas Jefferson said--"What country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance."

Which, to me at least, suggests that Mr Obama's "let's all co-operate" is an attack on your liberties. It also provides some justification for the Tea Party digging its high heels in and refusing to budge.

One might go so far as to say that the Tea Party is the only party adhering to the advice of an illustrious Founding Father and that it is about time that the co-operators and fudgers ceased wheeling out the Constitution to support whatever idea it happens on a convenient occasion to be useful for.

Of course they can always say "But this is not one of those times. This is a whole other type of theatrical exhibition and what the Founding Fathers thought is defunct, destitute of meaning and as dead as a dodo in the year 2011 of the Christian Era."

Because the interest on your personal credit card is not part of your cost of earning an income. They're part of your cost of consumption---and those costs aren't deductible.

Because one class of costs is the expense of earning an income, whereas the other class of costs is the expense of spending an income. The distinction is between investment spending and consumption, not between individuals and corporations.

Doing so has led the Tea Party (who is really just the GOP) to become more and more unpopular over time -

http://thehill.com/homenews/news/176799-tea-partys-heyday-may-be-coming-to-an-end-say-political-experts

So, let them continue to 'dig in.' It will only dig their political graves.

Cycloptichorn

Self employed individuals are businesses. Proprietary, partnership, or some form of corporation. A business is a business. Proprietarships and S Corporations have the same expenses for taxes ad C corps. It is not a distinction between self employed and corporations. It is between individual and business taxation. Except for mortgage interest, individuals get the same as littlest pig.

. . . but they usually aren't corporations. And Parados's original point was about corporations.


Mortage interest isn't exactly chopped liver though. For the two-thirds of Americans who own their own homes, these homes are by far the largest asset they invested their money in. The second-largest are probably their 401Ks, which also come out of pre-tax income.

Thanks for the non co-operative deflection.

Obama has dug his high heels in on ******* up this country.
Obama's idea of co-operation is to say one thing and do the opposite.

Again... how is Obama's plunder-bus tour going?

Mr. Jefferson also supported the French revolution even as blood ran in the streets of Paris.

Te tree of li

Sorry my computer lock up on me and by the time I got back I could no longer edit the posting or delete it.

Here is the postng.

Given that Mr. Jefferson supported the French revolution even after the blood of the upper/ruling class begin flowing like a river in the Paris streets he more then likely would had smile approvingly if we did the same to our ruling class along with their tools in Congress IE the tea party congressmen/women.

After all the tree of liberty must be refresh from time to time with the blood of patriots and tyrants. I would add the blood of fools to this Jefferson saying.

It was right up your street.

Which makes your side the Silent Majority you lower-middle-class daredevil you.

As I understand it Bill, not 1% of French aristocrats died in the Terror.

It however surely however got their attention that the lower classes was slightly unhappy with them.

Also during that time period so many upper class Frenchmen ran to the new US that the Democratic-Republican party raised the time to become a citizen from two years to five years due to the fear that the French royalists would upset the balance of power between the Federal and Democratic-Republican parties.

So the President is on this 3 day bus trip through some farming areas of Minnesota, Iowa and Illinois. And what a bus it is. It looks like a bus, but is probably a closer relative to a tank. Not surprisingly, this jaunt in this new bus is being criticized by some as being a waste of taxpayer money.
Anyway, Obama visited towns such as Guttenberg and Dyersville, IA.
He announced some very small initiatives ($350Mn over 5 years). One - run by the SBA - would try to make access to capital easier for rural areas. Another - in the Ag Dept - would try to recruit medical staff to those areas. It is not clear whether the funds would come out existing budgets of the departments or would be the start of the administration's goal of a new round of stimulus spending.
Newly minted Repub candidate Rick Perry describes any effort at stimulus spending as "near treasonous."

Obama's plunder-bus tour is a big let down for the press and his shrinking number of supporters.

His message is old and stale... he just wants to spread the misery around and get re-elected.

With the approval rating of the GOP-tea party Congressmen being what it is currently I would not be so happy about Obama less then fifty percent rating.

I heard that the secret service purchased the buses for all of the candidates.

The Republicans are playing "Beggar thy Neighbor" by destroying the economy to make Obama look bad.

Oh really !! Does the feckless Obama really need anyone's help to look bad? He talks a good game, as long as no specifics are involved . On every issue that comes before him, ranging from his success in getting a totally fucked up health care bill passed; to our reaction to the "Arab Spring"; the growing crisis in our public debt; the agonizingly slow recovery of our economy; and the intelligent integration of environmental and industrial policy - he has failed to address the obvious key issues in any concrete way. Consistently we have seen elevated, but vague and non specific rhetoric, contrasted with sharp criticism of his political opponents and anyone who would dare to criticize his inept, pseudo leadership. I believe he is in way over his head, and he hasn't a clue about anything except campaigning - something to which he returns every time he comes under pressure.

Until eight months ago the Democrats controlled the presidency and both houses of Congress. Since then they have controlled the Presidency and the Senate. They have throughout had the political power to address any issues that they chose. Unfortunately they chose to pursue a prefabricated social welfare agenda, just as its accumulated failures were becoming evident in Europe, and as economic conditions here were proving it to be unsustainable and dangerous to our short term economic recovery. Now, confronted with growing contradictions between their policy ambitions and the economic facts, they choose to blame their opponents. That's a pretty serious indictment of their intellectual integrity and moral courage. We will be well rid of them in the coming election.