One year and -4,906 points later

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Originally Posted by LogansPapa

:D Excellent picture - but do you have another explaination for the vast majority of our people's ease with debt?:confused:

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Besides, sheep will always be sheep?
There will always be enablers.
Liberal policies always fail.

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Originally Posted by patriot45

Liberal policies always fail.

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So the numerous credit card offers you've recieved in your mail box in the last decade were due to "Liberal Policies?":confused:

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Originally Posted by patriot45

Besides, sheep will always be sheep?
There will always be enablers.
Liberal policies always fail.

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You see that LP? Thats word partnership and slam dunking me and Pat have going on there. :cool:

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Originally Posted by LogansPapa

So the numerous credit card offers you've recieved in your mail box in the last decade were due to "Liberal Policies?":confused:

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Yes. I blame everything on Libs, they earned it and deserve it!

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Originally Posted by patriot45

Yes. I blame everything on Libs, they earned it and deserve it!

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So the Libs own all the banks? You're an idiot.:rolleyes:

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Originally Posted by LogansPapa

:D Excellent picture - but do you have another explaination for the vast majority of our people's ease with debt?:confused:

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The income tax system also reduces long term economic growth by double taxing savings and investments through capital gains taxes, corporate income, and other taxes on capital formation. Our government taxes earned income and also the proportion of that income that individuals and families save. The result of this double taxation has been the alarming reduction in the American savings rate...

http://www.cba.uni.edu/economics/Themes/sauerbrei.pdf

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Trying to escape the liberal policies that tax even savings, but give a tax break for some types of paid interest. Trying to pay the necessary expenses despite the government taking half your income?

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Originally Posted by MrsSmith

Trying to escape the liberal policies that tax even savings, but give a tax break for some types of paid interest. Trying to pay the necessary expenses despite the government taking half your income?

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:confused: Thought GWB gave some of the largest tax-breaks to Americans since Reagan?

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Originally Posted by Goldwater

And how and why do you think so much credit was opened to them? Again, back to interest rates.

Business and consumer alike just got drunk on an artificial market, they are sheep to the slaughter.

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I know it's before your time but many people bought houses during the Carter era at 17%. Home owners in the current era used their homes like credit cards to buy cars, boats and other stupid shit. Interest rates have nothing to do with business's and consumer's borrowing up to the hilt. They thought the good times would never end. The government to this day encourages more spending to keep the economy rolling. That is insane. I don't know what part of stupid in this triangle of government spending, consumer spending and business spending that people do not understand.

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Originally Posted by LogansPapa

:confused: Thought GWB gave some of the largest tax-breaks to Americans since Reagan?

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Yes, he did...but they were nowhere near enough to fix the original problem, nor keep the economy out of danger. At least he tried. Obama is going to tax our savings even more if we're unlucky enough to see him win.

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Originally Posted by lacarnut

I know it's before your time but many people bought houses during the Carter era at 17%. Home owners in the current era used their homes like credit cards to buy cars, boats and other stupid shit. Interest rates have nothing to do with business's and consumer's borrowing up to the hilt. They thought the good times would never end. The government to this day encourages more spending to keep the economy rolling. That is insane. I don't know what part of stupid in this triangle of government spending, consumer spending and business spending that people do not understand.

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Well I always agreed with you here, Carter was the last guy who said the spending without saving has to end, and look what happened to him. As better as Reagan was as president, one of his lesser legacies is the encouragement of the spend now save later culture. Never thought I'd be praising Carter... :confused: However I make the point that it had gotten particularly bad over the past couple of years under Greenspan and now Bernanke.