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I would trade the Clinton years
for what we have now. Investors had no problem investing in America then, even with the top tax rates 3% higher than today. Businesses invest because they can make money in a given enterprise. If taxes are slightly higher or lower, then that may be taken into consideration. But the investment goes through either way if the enterprise is considered worth the risk. As it happens, the last 7 years of low tax rates have not resulted in much increased investment and the rise in our economy was, as we now know, due to borrowing by the middle class to spur a a retail boom, which was, BTW, 70% of our GDP. That borrowed money went to the top, part of which was leveraged so much that it cause this crash. Now the credit cards are maxed, the home equity loans are upside down, the middle class is tapped out. We went to war on the credit card and the blood of American workers, now someone needs to step and be counted. Any suggestions?
ralen4
I have taken a good look and this old independent will not be voting for change or to make history or to revert the tax rates and brackets to the Clinton years.
Comment
Wow, I am amazed at the ignorance of these posts. Have you paid any attention to what Obama wants to do? To claim "we'll go back to the Clinton days and it won't be onerous" is ludicrous to put it bluntly. The last two years of the Clinton administration resulted in opening mortgages to people who did not qualify....we're paying the price now. Obama wants to redistribute the wealth......I guess you have no problem with him taking your wealth and giving it to others but I do, I worked hard for it. Multiple non-partisan entities have spelled out the damage to our economy if all of Obama's plans are implemented...do you not pay any attention to anything but the rhetoric his campaign promotes? This guy is so far left he makes Chavez appear to be a conservative! Get a grip people, get over the race issue and take a good hard look at who this country is about to elect based on his policies, not his skin color.
Len
I’m under the belief that this comes from both sides and each go at each other.
Most Americans do not conduct “fact-checks” and believe what they hear or read on their favorite media outlet.
You do know this can easily be tied to Congress? Our Congressional members are more accountable for the abuses of power than any party. Whether these abuses are initiated, or overlooked, by them.
I will admit, that some in each party are more apt to be singled out. But, either way, we’re looking at Congress.
Checks and balances,my friend. Checks and balances.
Jamesk, I think the threat of losing our liberties
is a lot stronger from the right than from the left. This last administration tried to set up a dictatorship from the President's office under the guise of strengthening that branch of government. They used the Orwellian style of power control by endless war, accusations of treason, torture, domestic spying and tight information control.
A central currency control is necessary for a stable economy (I know, it seems a little hard to believe now) and faith in a common means of exchange. We have had nationwide public education since about 1870, but there were state systems before then. We have problems with our education system now, but it is hardly the stepping stone to communism you imagine it to be. The issues are mainly apathetic parents, poorly trained and paid teachers, and lack of funding for inner city schools. Progressive taxes are nothing new, and even under Obama's tax plan, the taxes would hardly be onerous. The would revert to what we had under Clinton, and that hardly kept people from investing in new enterprises.
Jefferson was right
Jefferson was right and you are brilliant to quote him. Those who say Jefferson was not alive when the federal reserve was established should know that he was referring to government control and not a named agency. If you read the Communist Manifesto (Karl Marx) you will find that control of all the currency is a necessary prerequisite to establish communism. Public schools and progressive income taxes are two others. Following this election, a liberal supreme court will put the final nails in our republic's coffin. But not to worry. The government will give us what we need at absolutely no cost to us. All we have to do is forfeit our honor, lives and fortunes.
Jim King
Andrew Jackson
Andrew Jackson removed all of the money from the Federal Banks when he was elected and put all of the money in the favored State Banks. Obviously, the Federal Government not having control over the money at least in some part was proved to be a good idea after that debacle. I would venture to say that at this point in time the Federal Government does have too much power in the banking industry. We have to get back to having some kind of balance in that respect.
Excellent Quote
Thomas Jefferson was indeed one of the wisest founders of our nation and I applaud the letter writer for choosing this statement that Jefferson made about the recharter of the Bank Bill in 1809. Jefferson also recognized the dangers of a huge national debt and excessive taxes and
the resulting misery. His opinion on this matter is also excellent.
I thought the
Federal Reserve was created in 1913. Hum! I believe Jefferson was not alive at this point in time.