In article ,
"Robert Green" wrote:
When Obama took office the sky was falling and no one was quite sure how bad
it would get or where it would end. As hateful as I found many of the
things he and the Congress did, I don't think they had much of a choice.
The people at the top know how panic can overwhelm almost any human system.
They had to make sure that people still maintained some confidence in the
financial system.
But quite a bit of the TARP was already in place by the time Obama
took office. WHile he definitely did more than his part with GM, etc.,
much of the financial system recovery was already in place.
With the DJIA back up, I'd say they were successful in pulling things back
together. This "humongous deficit" game is a strategy that one side or
another has used ever since the deficit limit required approval. It's more
political theater at its best and political blackmail at its worst.
Of course when it was the GOP's limits that needed raised, Obama
famously called it a lack of leadership that we had come to this point.
Sorta interesting how different it looks when it is you ass (or legacy
if you prefer) on the line. But again, have to give props for facing
reality.
People are slowly but surely getting the picture that Ryan wants to balance
the gifts given to the rich off the poorest people in society. Let some of
those hedge fund millionaires give back a little to the country and the
economic system whose reputation and stability gave them the opportunity to
make those millions. So what if the rate is confiscatory? If these folks
are using predatory practices to amass their fortunes, a high tax rate would
give them an incentive to stop raiding pensions funds and people's
retirement savings.
It's a miracle people still invest in the stock market with the recent rash
of frauds and crimes like Madoff and Raj Rajaratnam the foundering founder
of the hedge fund, the Galleon Group, whose fortunes are sinking like its
namesake's did, loaded with gold in a hurricane:
http://online.wsj.com/article/SB1000...246641834.html
Ta x policy by whoever offends you. Always a good idea.
--
"Even I realized that money was to politicians what the ecalyptus tree is to koala bears: food, water, shelter and something to crap on."
---PJ O'Rourke