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Make up your minds! Biden: Obama is NOT spreading the wealth around; Obama: I am spreading the wealth around
The following exchange occured in an interview conducted by a Florida TV Station and Joe Biden:
"how is it Obama is not being a Marxist if he intends to spread the wealth around." Biden's answer?...."he is NOT spreading the wealth around".
Hey, someone forgot to tell Joe that Obama stands by his "spread the wealth" comment. Dammit, Joe:
ABC's Robin Roberts: "Any regrets that you -" Obama: "No." Roberts: "No not that you met Joe the plumber, but the fact that you said 'spread the wealth.'" Obama: "Not at all."
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Since the Republicans started demonizing it, I guess "spreading the wealth" has become a toxic statement.
Some Americans amaze me. At rallies, McCain and Palin are essentially saying they DON'T want to spread the wealth around. And their supporters cheer wildly.
Where else on earth, aside from America, would middle class families reject the idea of spreading wealth?
October 26, 2008 1:25 PM | Reply | Permalink
gary - the middle class doesnt want the lower class getting more handouts. They dont want the percentage of people paying no income taxes going to almost 50%. That's why we're cheering
October 26, 2008 3:18 PM | Reply | Permalink
And you've got your head up your ass -- both about being "middle class" and knowing what you're talking about.
Let me guess: the solution to EVERY problem is to cut taxes and eliminate regulation.
Right? We don't want to pay for infrastructure because we're lied to that that means giving money to people who don't pay taxes. Welfare. BLACKS.
And we want to eliminate regulation so more and more forms of stealing are "legal," which eventuates in the taxpayers bailing out the theives who ripped off the taxpayers to begin with.
The reality isn't that those not paying taxes will increase. REPEALING the tax cuts on those WHO LEAST NEED THEM, asshole, will INCREASE revenue -- WHICH IS NEEDED. And that revenue will NOT be given as "handouts" to "the lower class" -- we have a huge DEFICIT to pay.
Get your head out of your ass, out of FOX's fake news, and instead of listening to them about what Obama intends, listen to Obama. And listen to those who know those issues and DON'T have a dog in the fight.
Bottom line: your politics of greed, and fuck everybody else, has brought our economy to where it is. Tax cuts, tax cuts, tax cuts, and drunken-sailor spending is why we are where we are. Tax cuts, tax cuts, tax cuts are NOT going to solve the problem. In order to pay bills, fool, one must have money to pay them.
Now start to think for the first fucking time in your life: the handouts to Wall St. aren't to "the lower class"; they are to the MEGAWEALTHY. And the TAXPAYER is paying for that bailout -- ON TOP OF having been screwed on the front end by those megawealthy. And what's your "solution"? Beat up on the poor who DIDN'T cause the problem based upon more of the same lunatic -- and bogus -- economic delusions.
October 26, 2008 5:09 PM | Reply | Permalink
Your anger kept you from addressing my main point: The contradiction between Biden's and Obama's statements.
October 27, 2008 1:14 PM | Reply | Permalink
There's my buddy JNagarya, using classy terms like "head up your ass" and "jackass".
JN - I am currently unemployed, so it's a little surprising that you're attacking me so much. I'm not sure why you're so upset at me. I'm just trying to discuss the issues and giving my point of view.
Tax cuts aren't a solution to all problems. I agree with you on that and drunken spending. I've listened to Obama for all 3 debates. And that's why I'm upset that Barack is cutting taxes for 95% of Americans. You said yourself that tax cuts aren't going to solve the problem.
I'm also upset that he's increasing spending rather than first examining if our current budget is being spent correctly. Right now with all the infrastructure and other spending needs we have, we shouldn't be cutting taxes on anybody. And in this recession we shouldn't be raising anybody's taxes. That's why I like McCain's plan to leave tax rates where they currently are.
And I didn't even bring up regulation, so not sure where you are coming from on that. But since you raised it, I think we need to "fix" the current regulatory structure. But I don't buy the argument that "deregulation" caused this mess. We've had other bubbles throughout history and this is another ugly one. But "deregulation" did not cause the credit/banking mess that we're in right now.
October 26, 2008 5:25 PM | Reply | Permalink
Nice obfuscation, Bill, when seashell proves you wrong (again), try to obfuscate (again). Scrutinizing is a lot different than actively involved, which is what the de-regulation allowed. So, nice try, try again.
October 27, 2008 11:04 AM | Reply | Permalink
The people that are so worried about a 'few' dollars that might go to a welfare mother amaze me.
There is not one word said about the 9 billion in taxpayer's money that was lost in Iraq as it was sitting shrink wrapped on unguarded pallets, but by God, that woman will not get any of their money to feed a kid.
In relative terms, few is the correct word for how much the woman might possibly receive.
And for the upteenth time, the people that don't pay taxes don't pay them because they are lazy, but because they don't make enough money in their jobs.
And for another upteenth time, the shadow banking system (hedge funds) had no regulation. The shadow banking system caused the current meltdown. To say deregulation was not the cause shows an enormous lack of understanding about the situation. There can be debates about the cure, but there is no argument about the cause.
October 26, 2008 7:03 PM | Reply | Permalink
Hedge funds caused the current meltdown? Which "deregulation" are you specifically referring to?
October 26, 2008 7:59 PM | Reply | Permalink
The deregulations:
Shadow banking system members:
(I was being lazy by using only hedge funds as an example.)
The other bubbles, like the dot.com bubble, were not a part of the unregulated derivative universe. If subprime mortgages had been the only problem in this crisis, we would not be experiencing a financial melt-down crisis.
One last note - trust is one of the main components of successful markets. When markets are not regulated the transparency disappears, which leads to a breakdown in trust among the counterparties.
From the Comptroller of the Currency (part of the US Treasury Dept.) 2007 3rd Q.
October 26, 2008 11:03 PM | Reply | Permalink
Seashell - one other thing - did I say that people who don't pay taxes are lazy? I don't think so. My point was that Obama's tax "credits" are going to people who today don't pay taxes. So they're going to get even more handouts than what they're getting today. They're marginal tax rate is going to skyrocket because alot of those "credits" will expire if they ever got a job which paid more money.
October 26, 2008 8:42 PM | Reply | Permalink
My point was that Obama's tax "credits" are going to people who today don't pay taxes. So they're going to get even more handouts than what they're getting today.
So you're against helping people with food, shelter, medical and other necessities even though they're not lazy?
October 26, 2008 11:10 PM | Reply | Permalink
Your food and shelter comment is a gross generalization. There's approximately 30% of the population that's not paying income taxes. I'm not sure that 30% of the population needs help with food and shelter. But they're all going to get "tax cuts" via refundable tax credits under Obama's plan.
October 27, 2008 6:40 AM | Reply | Permalink
I agree the derivatives market should be better regulated, but large pieces of it (such as interest rate derivatives) have worked fine as an OTC market. Credit derivatives have gotten out of hand. But I'm not sure that the repeal of Glass-Steagall had much to do with the current mess. The commercial banks (Citi, JPM, etc) have been in the securities business since the late 80's and we haven't had a problem until now (the roots of which really were the mortgage debacle which triggered a lot of other stuff). And the investment banks have been securitizing mortgages for a long, long, time as well.
October 27, 2008 6:44 AM | Reply | Permalink