Aretha Franklin's Hat

[Tom In VA]

Well they are responsible as well but Bush signed two acts ... Economic Growth Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. Both acts, lowered - or CUT - taxes.

Now if the argument is being made that those decisions coupled with his spending decisions for the War on Terror and the recent bailouts of banks and automobile industries will increase the overall tax burden in the future .... that's a different and probably valid argument.

It still doesn't change the fact that Bush Sr. said "no new taxes" and yet he did not VETO - new taxes. That Clinton SIGNED tax increases.

And that many of the folks that voted for Obama - who plans to increase taxes - don't like paying them, do their best to not pay them, and probably will spend money to tax accountants and the like to get out of paying them.

We've already covered whether or not taxation is "stealing" or not. It makes for good rhetoric, hell I've used it from time to time, but ultimately the U.S. Consitution does allow the government to impose taxes.

[Dinsdale]

Actually Congress did the stealing.

I'll abide with that, but W gave a huge assist.

Regulating commerce, raising revenue and cutting taxes is the responsibility of Congress.

So is declaring war... like the Constitution matters any more.

ruly amazing how long Congress has been able to shift blame for their fuckups and horrifying irresponsibility onto the Executive.

The Iraq War being the absolute PERFECT example.

[Dinsdale]

Tom -- you're still just not grasping the fact that inflation is a tax... a universal one.

[Shlomart Ben Yisrael]

Tom -- you're still just not grasping the fact that inflation is a tax... a universal one.

That's why it's refered to as "the hidden tax".

[BSmack]

Tom -- you're still just not grasping the fact that inflation is a tax... a universal one.

For those whose income rises faster than the rate of inflation, it is a tax cut.

[Cuda]

Tom -- you're still just not grasping the fact that inflation is a tax... a universal one.

That's why it's refered to as "the hidden tax".

Don't get him started. Next he'll be condemning lottery tickets.

[Tom In VA]

Tom -- you're still just not grasping the fact that inflation is a tax... a universal one.

Again, I'm assuming you're referring to the bailout packages of late and the "Well, fire up the printing presses" approach to our banks ills.

Again, we agree, overall the common man (John Q) will shoulder this burden eventually through higher taxes AND higher costs for goods and services.

And John Q will probably be lucky to have a job.

[smackaholic]

Tom -- you're still just not grasping the fact that inflation is a tax... a universal one.

For those whose income rises faster than the rate of inflation, it is a tax cut.

no, dumbass, it is still a tax. and it is a regressive as hell tax.

[War Wagon]

For those whose income rises faster than the rate of inflation, it is a tax cut.

And whose incomes might those be, other than MLB free agents?

Cockaholic, if you're going to use my words in a sig, at least get the [/i] right. sheesh.

[smackaholic]

the smackaholic is not gifted in the art of html.

[Rack Fu]

Forget Aretha's hat. What about President Bush #41's Davey Crockett coonskin hat?

[RadioFan]

coonskin

Racist.

[KC Scott]

Tom -- you're still just not grasping the fact that inflation is a tax... a universal one.

Correct except right now we're in a period of Deflation - but carry on........

[Moving Sale]

"Declaration of War" is a term that is completely meaningless within a legal framework.

The bottom line remains that Congress provided specific statutory authority to the Executive to use military force to prosecute both the war on terror and the war against Iraq.

Do you EVER get tired of sounding like an idiot?

[BSmack]

For those whose income rises faster than the rate of inflation, it is a tax cut.

And whose incomes might those be, other than MLB free agents?

If your income was in the top 10% as of 2000, it almost certainly increased faster than the rate of inflation as of 2008.

[poptart]

Correct except right now we're in a period of Deflation - but carry on.....

C'mon, Scott, sell it elsewhere.

For the last 2 months of '08, yes, we are in a "period" of deflation.

Look at the numbers for the ENTIRETY of '08.
Look at the AVERAGE for '08.
Looks like the highest inflation rate in the last decade, boss.

http://www.inflationdata.com/inflation/ ... lation.asp

Now that they've printed up all this magic money, do you want to take a guess at what will be happening to this chart in the months to come?

See the chart from '73-'84?

http://inflationdata.com/inflation/Infl ... rentPage=2

Good times.

It's gonna be lookin' like that starting very soon, only probably worse, imo.

Get the grease.

[smackaholic]

Just remember smackoholic.....

Lord, in the memory of all the saints who from their labors rest, and in the joy of a new beginning, we ask you to help us work for that day when black will not be asked to get back, when brown can stick around, when yellow will be mellow, when the red man can get ahead, man -- and when white will embrace what is right.

Can you say AMEN ?

STFU ya drunken mic. :)

Whataya know, the still letting the white man be king of the page? I suspect that'll be addressed in the stimulus package though.

[smackaholic]

Correct except right now we're in a period of Deflation - but carry on.....

C'mon, Scott, sell it elsewhere.

For the last 2 months of '08, yes, we are in a "period" of deflation.

Look at the numbers for the ENTIRETY of '08.
Look at the AVERAGE for '08.
Looks like the highest inflation rate in the last decade, boss.

http://www.inflationdata.com/inflation/ ... lation.asp

Now that they've printed up all this magic money, do you want to take a guess at what will be happening to this chart in the months to come?

See the chart from '73-'84?

http://inflationdata.com/inflation/Infl ... rentPage=2

Good times.

It's gonna be lookin' like that starting very soon, only probably worse, imo.

Get the grease.

Sorry old man, you're taking this one hard and dry. They had to cut grease out of the budget.

[Ana Ng]

You're as easy as Ana Ng after a few strong drinks.

What do they get for a couple of Long Island ice teas at the Verizon Center these days?


I missed Aretha at the inoguration.

As did diet and exercise, apparently.

[KC Scott]

Correct except right now we're in a period of Deflation - but carry on.....

C'mon, Scott, sell it elsewhere.

For the last 2 months of '08, yes, we are in a "period" of deflation.

Look at the numbers for the ENTIRETY of '08.
Look at the AVERAGE for '08.
Looks like the highest inflation rate in the last decade, boss.

Tart your Lost again Bro.

The credit markets are locked up - and I mean locked the fuck up.

We fell hard beacuse we rose way too fast - it was artificial inflation of prices of everything from Real Estate to commodities.
This was due to the lax credit and with it widely available leverage.
That's all gone now

So with no money there's no demand - and we hit the deflationary cycle.

Interest at zero is great, but someone still has to be willing to put the money in circulation - so far the bailed out banks haven't.

And I don't expect to see that change until possible Q2 / Q3 - this was a massive hit on everything.

[poptart]

Scott, I'll be happy to take a look at these inflation charts again with you, say, at the end of this year.
And again at the end of '10, '11.

Inflation like a BIG DOG.

Comin' soon.


Take it to the ... bank?

[barack is GOD]

Aretha Franklin gives me wood!!

Barack is GOD!

Don't mess with GOD!!!

[poptart]

http://articles.moneycentral.msn.com/In ... money.aspx


Due to the actions of Obama and the Clueless Congress, BIGTIME inflation is coming.



- Jim pointed out to me that when Nixon closed the gold window in 1971, it was a unilateral ending of the world's currency regime, whereas Wednesday marked the announcement of the intent to destroy the world's reserve currency.

- No one should think that money printing will solve our No. 1 problem: job creation. It won't, and it will make the business of running businesses that much harder.

- We are attempting to print our way to prosperity. That can't be done, any more than we could speculate our way to prosperity during the stock bubble or borrow our way to prosperity in the real-estate/credit bubble.

- Got gold?