US Debt downgraded by Standard & Poor

[ElNono]

BTW, we got here because both blue and red are FOS... that said, I don't really give a about rating agencies, tbh

[FuzzyLumpkins]

the bond buyers, esp the wealthy US capitalists, LOVE a couple more percent. In fact, they may have paid, in some way, S&P. Plus Wall St probably placed bets on S&P doing it. Nothing happens in the ing country unless the wealthy get wealthier.

Exactly who are thes 'capitalists' you keep talking about. What PACs, individuals, corporations or anything at all represents these 'capitalists.' Do you have any idea of specifics or is this just the boogeyman.

I am not arguing that there are not elites with access that are dominating the political landscape but i am a little old now for ghost stories.

[boutons_deux]

oops!

$2 trillion error in S&P calculations: US Treasury

"A judgment flawed by a 2 trillion dollar error speaks for itself," a Treasury spokesman said,

http://www.rawstory.com/rs/2011/08/0...e+Raw+Story%29

===

After being trashed by the Treasury, S&P changed their logic of their downgrading from financial to political.

After the ratings agencies complicity rated toxic sold by the financial sector as AAA, they have NO credibility, no independence from the sellers of they are rating.

[JohnnyMarzetti]

First time in US history. Hopenchange

Probably has nothing to do with the ridiculous spending.

Would you like a cup of Tea Party with that sammich!?

[Capt Bringdown]

Well, I’m not gonna jump to any conclusions before I watch Fox & Friends on Monday and they explain all this to me.

[Wild Cobra]

We need a second stimulus to move us down another notch.

Tax increases will move us down also.

[DMC]

Bad credit/Obama

Nothing to see here

Actually like the piss poor money managing, over indulging pigs we are, we need bad credit to force us to curb our appe es for excess.

As far as ratings go: it's about like looking at Beckett's to see how much your new baseball cards are worth, or asking Enron to appraise their own value. S&P? LOL...

[FuzzyLumpkins]

Tax increases will move us down also.

as evidenced by them saying in their statement:

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on en lements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process.

Shoot yourself too please.

[Wild Cobra]

as evidenced by them saying in their statement:



Shoot yourself too please.

There are other ways of raising revenue without raising tax rates.

[FuzzyLumpkins]

There are other ways of raising revenue without raising tax rates.

Please enlighten us.

[FuzzyLumpkins]

No luck on wikipeida yet?

How about tariffs those are kinda like taxes but not quite.

Idiot.

[Trainwreck2100]

Please enlighten us.

find gold can't be THAT hard

[Vici]

It's like you people are trying to read in between the lines when there is nothing hidden. The whole ing politcal show that the Republicans put on for us is the reason this is happening. It is beyond re ed, the SnP ing says they wanted to see revenue increases in addition to cuts and somehow that means DON'T raise revenue? It defies all logic and sanity. This country is absolutey headed for disaster and it is plainly at the Republicans feet. It's clear they are willing to drive this country into the ground unless they get their way, which is going to drive this country into the ground. It's pathetic and quite frankly time to move.

[Trainwreck2100]

It's like you people are trying to read in between the lines when there is nothing hidden. The whole ing politcal show that the Republicans put on for us is the reason this is happening. It is beyond re ed, the SnP ing says they wanted to see revenue increases in addition to cuts and somehow that means DON'T raise revenue? It defies all logic and sanity. This country is absolutey headed for disaster and it is plainly at the Republicans feet. It's clear they are willing to drive this country into the ground unless they get their way, which is going to drive this country into the ground. It's pathetic and quite frankly time to move.

Blaming all republicans for the tea party. They are shooting themselves in the foot and too stubborn to realize it.

[TDMVPDPOY]

those govt bonds, even if they give you +%....point being the dollar aint worth if hyper inflation kicks in and prices increases for goods/services, your not actually gettin much for ur dollar

[ElNono]

Maybe we can ask the French to rescue us...

[Sisk]

All those extremely low dividends taxes are really trickling down... the country might be going to the ter for you and me, but the top 1% sure ain't sweating it...

http://www.huliq.com/3257/nearly-50-...xes-all-report

[ElNono]

http://www.huliq.com/3257/nearly-50-...xes-all-report

Add this to that:

http://www.usatoday.com/money/perfi/...10-taxes_N.htm

[Sisk]

Add this to that:

http://www.usatoday.com/money/perfi/...10-taxes_N.htm

I'm failing to see how these articles relate, unless you're just pointing out the federal govt. is bringing in less money. True, but do you think that having nearly half the population not pay any income tax is OK? I understand the notion of "tax the rich" but I believe everyone should pitch in at least something.

[FuzzyLumpkins]

I'm failing to see how these articles relate, unless you're just pointing out the federal govt. is bringing in less money. True, but do you think that having nearly half the population not pay any income tax is OK? I understand the notion of "tax the rich" but I believe everyone should pitch in at least something.

Did you just google 50% taxes and post the article cause your artcle also includes:

In fact, some of the wealthy want to pay more. While Senator Orrin Hatch, (R-UT), Republican on the Senate Finance Committee believes that the rich should just voluntarily pay more, there is a group called United for a Fair Economy who believes the rich should be forced to pay more, via higher tax rates. And the members of that group are all rich themselves.

On such rich person, Eric Schoenberg, spoke to AP. He inherited money and has a healthy portfolio from when he was an investment banker. 2009 was a bad year for him; his investments "only" brought him $200K. Normally, he makes "north of half a million a year." In 2009, his bad year, his federal income tax bill was slightly more than $2,000. "I simply point out to people, 'Do you think this is reasonable, that somebody in my cir stances should only be paying 1 percent of their income in tax?'"

They do not apparently have issue with it.

[Sisk]

Did you just google 50% taxes and post the article cause your artcle also includes:



They do not apparently have issue with it.

I guess you didn't read the part where I said I understood why the rich are taxed more.

[FuzzyLumpkins]

I guess you didn't read the part where I said I understood why the rich are taxed more.

So you think the people in the article were not aware of your figures?

[Sisk]

So you think the people in the article were not aware of your figures?

What are you talking about? I'm saying the people who aren't paying a dime in income tax should be taxed. Period.

[FuzzyLumpkins]

I hope you are also aware that 47% makes less than $25k a year.

http://en.wikipedia.org/wiki/Persona..._United_States

Its wiki but it is what it is.

So what do you think the appropriate tax rate for people under the poverty line, unemployed etc is?

[Sisk]

I hope you are also aware that 47% makes less than $25k a year.

http://en.wikipedia.org/wiki/Persona..._United_States

Its wiki but it is what it is.

So what do you think the appropriate tax rate for people under the poverty line, unemployed etc is?

Unemployment benefits is a completely different can of worms. As are welfare programs. Anything is an upgrade from 0%.

Are you in support of almost half the country not paying a dime of income tax?