It’s the economy.
By on Nov 7th, 2007 at 1:17 pm
It’s the economy.
A new CNN poll reports that the economy is the “number-one issue on the minds of Americans.” 82 percent said the economy will be extremely or very important to their vote for president, two points ahead of those who cited the Iraq war. Rounding out the top five were: health care (76 percent), terrorism (76 percent), and Iran (73 percent). Charlie Cook writes that there seems to be a political disconnect on the economy. “Among elected officials in Washington, there seems to be little talk about the economy and hardly any mention that the housing sector is in a free-fall,” he writes.
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govt corruption is my top problem… take care of that crap and everything else falls into place.
November 7th, 2007 at 1:21 pmIf gas is $4.00/gallon next fall Republicans are in real trouble.
November 7th, 2007 at 1:23 pmfreefall dollar
mortgage crises
oil prices through the roof
gold at all time highs
predatory mortgagers
overpriced unwinnable “wars”
overall greed and corruption
corporatism
hyper inflation on the way
tax cuts for the rich
no health care
foreign countries holding US debt/assets
artificially low interest rates
inverted bond yield curve
welcome to Bush’s fascist corporatist economy. the republicans willful catch 22 economic welfare for the robber barons. hope you like your orwellian perpetual war state as they enslave your children to a lifetime of endentured slavery.
November 7th, 2007 at 1:31 pmWho cares about a little thing called Iraq where brave Americans and countless Iraqis are DIEING on a daily basis. Not that important.
November 7th, 2007 at 1:35 pmNext Fall, vote for the insurgency.
http://www.tshirtinsurgency.com
November 7th, 2007 at 1:36 pm#4
It is 2 percentage points behind, and quite a bit more more than that ahead of the next “biggest concern.”
Also the concern over the economy is directly linked to the war, as that ain’t free.
November 7th, 2007 at 1:38 pmAn Important Read:
http://www.infowars.com/articles/economy/housing_crash_suburban_sprawl_and_crisis_of_middle_class.htm
November 7th, 2007 at 1:43 pmIf gas is $4.00/gallon next fall Republicans are in real trouble.
Comment by gulfwargrunt
Republicans are already in real trouble. But gas won’t be $4.00 a gallon before the election. Bush will work a deal with the oil companies to lower the price before the election like he did in 2004. I agree with Venezuela, it’s time for us to nationalize our oil industry. It’s nuts that they are making obscene profits while our young people die through our blood for oil program and while average families are moving towards bankruptcy.
November 7th, 2007 at 1:48 pmIs this true? Surely not! I just heard on Fox News that the economy was doing just great.
November 7th, 2007 at 1:50 pmRastaman posted the following problems:
freefall dollar – “freefalling”? More like an adjustment for the strength of US exports in the global economy. That’s good for US jobs.
mortgage crises – maybe. Most of these are tied to idiot consumers taking on mortgages they can’t afford and compounding the issue through the use of ARMs.
oil prices through the roof – but, that’s a good thing for “progressives,” right? Higher energy costs mean reduced energy use and lower global warming…
gold at all time highs – meaning?… nothing really. Just another cycle of one investment sector taking off for its cycle. Gold rises and falls and most economists agree that it isn’t the harbinger it was over 100 years ago.
predatory mortgagers – there are predatory businesses in every sector of the economy. It’s not about politics or who is in office. Greed runs rampant period.
overpriced unwinnable “wars†– If you think that democracy isn’t under attack from homicidal terrorists and other islamofascists, you are sadly clueless.
overall greed and corruption – From G. Washington to G. Bush, it doesn’t matter. Do greed and corruption favor a certain political party over another? Don’t kid yourself if you think yes.
corporatism – Cute term that means nothing and invokes mindless fear. Good job!
hyper inflation on the way – Really? We’ll see. Last time we had hyper-inflation Carter and Ford were in office…
tax cuts for the rich – They pay a disproportionately larger share of the taxes. Period.
no health care – there’s plenty of health care. However, there’s too many insurance schemes that enrich the state or insurance companies rather than focus on driving down costs and increasing “face time” with health care professionals.
foreign countries holding US debt/assets – So? I recall this “chiicken little” cry from the 80s when Japan was going to take over the U.S….
artificially low interest rates – That’s right. You tell the economists at the Fed that they screwing up! Are you available to run the economy?…
November 7th, 2007 at 1:54 pminverted bond yield curve – Like gold, an indicator that, in conjunction with numerous other factors, may mean a lot, or nothing.
#2 gulwargrunt,
[If gas is $4.00/gallon next fall Republicans are in real trouble]
November 7th, 2007 at 1:57 pm———————————————————————————-
And if we have a war with Iran..,we might not be able to find oil at the pump.
With 14 months left of Bush’s presidency ,no one can predict what will happen.
That’s why the nervousness in Stock Market Futures created an uncertainity which has been seen for a while.
A war with Iran will break the camel’s back.
The economy ,ours and foreign, cannot sustain the basic fundamentals in such uncertain and risky environment, like big surge in oil prices and unavailabity.
The steady decline in the dollar price in World Exchange Markets will also add to the current uncertain conditions of our economy.
Here’s another powerful statistic about the top 1% of earners: They pay a whopping 39% of all federal income taxes. The bottom 50% pay just 3% of all income taxes.
Can anyone on this blog say, “thank you” to the supposedly evil rich? They pay more for the same services you and I use. Here’s the proof:
http://www.kiplinger.com/features/archives/2007/11/taxrank.html
November 7th, 2007 at 1:59 pmCan anyone on this blog say, “thank you†to the supposedly evil rich?
that’s awesome. but why limit it to people on this blog? why not take your plea to ‘82 percent said the economy will be extremely or very important to their vote for president’?
November 7th, 2007 at 2:03 pm#13:
With ill-informed persons running around decrying that the “rich don’t pay their fair share of taxes,” it’s a tough obstacle to overcome. Considering that most people are clueless about economics and take their cues from the loudest (and not necessarily the most informed). Cheers.
November 7th, 2007 at 2:09 pm#14, you haven’t stated a single fact to support your LOUD assertions.
Simply SHOUTING doesn’t mean what you say is true. Provide real-world proof for your assertions, and we will believe.
Regarding other taxes, the rich do pay Medicare, social security, etc. However, the rich do not use these services. The rich pay a disproportionately higher percentage of property taxes, which is used to pay for public schools and the like.
Most importantly, the rich create jobs and industry which provide us with an income.
Why do you hate the rich? Is it mere envy? Without facts to back your assertions, you don’t have a leg to stand on my friend.
November 7th, 2007 at 2:12 pm#17 – 18% of $44+ billion is a chunk of change. Whatcha complaining about?
And, why are you attacking me pesonally? Do you always devolve to childlike accusations when confronted with, gasp, an opposing and informed viewpoint?…
November 7th, 2007 at 2:14 pmWhy is that? WHY DO YOU HATE POOR PEOPLE?
Comment by republicans hate facts
He doesn’t hate poor people, he hates anyone who isn’t in the top 1%. I’m not poor, but my disposable income has gone down every year since Bush took office.
Another thing that needs to be addressed is the Corporate income tax rates. If corporations were to pay the same rate they paid while Ike was president (you do remember Ike, a Republican), we could pay off our national debt in a year. And if we were to not allow US corporations to incorporate in the Cayman Islands to avoid US taxes, we could cut income taxes to every taxpayer in this country.
This poster also didn’t point out that the middle income folks like you and I pay 58% of the income taxes in this country. And what is this income bracket that pays 58% of the taxes in this country? It is $30,882 to $364,657. I’m fairly sure that covers most of the people on this blog.
November 7th, 2007 at 2:17 pm“an opposing and informed viewpoint?…”
what are you doing still here? 82% of america is uninformed. you’ve got a lot of work to do. get going!
November 7th, 2007 at 2:18 pmCharlie Cook thinks there’s disconnect between politicians in Washington and the general public on the economy? Where’s ol’ Charlie been hiding, anyway? There’s a disconnect between politicians in WAshington and the general public on more than just the economy…
And yeah, the rich pay higher property taxes because, well, they’re living on property that’s more expensive…
If I’m making $2 million a year, how much money I fork over in taxes is probably going to be significantly greater than what the 7/11 clerk forks over, but the proportion of income that each amount represents isn’t the same. So in absolute dollars, rich people pay more. In proportionate terms (relative to one’s base income), not so much.
November 7th, 2007 at 2:18 pmAnd, why are you attacking me pesonally? Do you always devolve to childlike accusations when confronted with, gasp, an opposing and informed viewpoint?…
Comment by JT
Perhaps if you had an informed viewpoint… The viewpoint you post is usually cherry picked facts that you manipulate to represent your world view. Kind of like the Bush Administration.
November 7th, 2007 at 2:19 pmMy my, what a bunch of irrational posts. I have posted opposing and informed viewpoints, and you all engage in shrill attacks. I post outside sources to support my assertions, and you post your own personal “findings.” For example, republicans hate facts thinks that the poor pay a higher proportion of income taxes, yet completely overlooks the fact that the lower half, yes 50%, of the population pay only 3% of the overall tax burden.
Ta, ta.
November 7th, 2007 at 2:25 pm#26 – republicans hate facts
You are a fool. You posted a Congressional Budget Oversight study that with latest figures from 2001 (when Clinton was in office) that the middle class paid more than the rich and the poor! This completely undercuts EVERY argument you made!! You’re only 6 years and 1 president behind on your research. Ha, ha!!
My independent research is based on latest figures from 2007 which shows that the top 1% actually paid more in taxes and the lower half paid less!!
Ha, ha!! What a fool. I rest my case and move on!!!
November 7th, 2007 at 2:28 pmRepublicans hate facts, I can’t wait til you read my post. You’re such a weak little person. Ha, ha!!
November 7th, 2007 at 2:29 pmnow for something really stupid –
“ANY Comment by JT”
These are the kinds of Fascist Pigs we need to rid our country of.
Buck Fush
November 7th, 2007 at 2:29 pm“you all engage in shrill attacks”
i’m guessing that saying you know better than 82% of the american public about the economy might also be shrill. but why take my word for it? take your message to streets!
November 7th, 2007 at 2:34 pmYou have to got be kidding- you don’t think that the top 1%, paying nearly 40% of the overall taxes, aren’t burdened enough? How about the lower half who only pay 3%? Should we reduce their burden to zero?
Sounds like communism to me. What’s the incentive to perform and get ahead? Read Atlas Shrugged.
November 7th, 2007 at 2:35 pmRead Atlas Shrugged.
Comment by JT
Read the Bible.
November 7th, 2007 at 2:37 pm“foreign countries holding US debt/assets – So? I recall this “chiicken little†cry from the 80s when Japan was going to take over the U.S….”
Comment by JT — November 7, 2007 @ 1:54 pm
JT – seems like this “chicken little” theory impacts the behavior of investors in the stock market big time. And this is the result of only speculation. If it actually happened, the current volitility would be the tinest blip in comparison.
The 13-nation euro hit a fresh record against the dollar — rising to $1.4729 — before falling back. The dollar fell not only against the euro but in Asia following a report that a senior Chinese political figure said China should diversify its $1.43 trillion foreign exchange reserves into the euro and other strong currencies.
http://biz.yahoo.com/ap/071107/wall_street.html
`Losing Its Status’
The dollar is “losing its status as the world currency,” Xu Jian, a central bank vice director, told a conference in Beijing. “We will favor stronger currencies over weaker ones, and will readjust accordingly,” Cheng Siwei, vice chairman of China’s National People’s Congress, said at the same meeting.”
http://www.bloomberg.com/apps/news?pid=20601103&sid=ao5D5Tdb7E1w&refer=us
“The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.
Two officials at leading Communist Party bodies have given interviews in recent days warning – for the first time – that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/07/bcnchina107a.xml
http://www.bloomberg.com/apps/news?pid=20601103&sid=ao5D5Tdb7E1w&refer=us
November 7th, 2007 at 2:42 pmThat same bottom 50% pays about 20% of all Social Security and Medicare/Medicaid taxes whereas the top 1% pays about .2% of same. In addition, state income taxes are being ignored as many of the wealthy base their lives in states (like Texas) which have no personal income tax, even their origins were based in a state where one exists (like Connecticut).
November 7th, 2007 at 3:08 pmcorporatism – Cute term that means nothing and invokes mindless fear. Good job!
Comment by JT — November 7, 2007 @ 1:54 pm
Funny how in this same post you note islamofacism, a term that means nothing and invokes mindless fear.
November 7th, 2007 at 3:10 pmFor those that don’t know, the bottom 50% pays ~11% of their income in FICA, but the top 1% pays 2.4% of their income in FICA.
That’s right folks! The biggest funding issue for much of the government is that the wealthy pay a LOWER percentage of their taxes than the poor do on a majority of items!
Comment by republicans hate facts — November 7, 2007 @ 2:50 pm
RHF,
November 7th, 2007 at 3:11 pmYour numbers agree with mine, only a different point of presentation.
For those that don’t know, the bottom 50% pays ~11% of their income in FICA, but the top 1% pays 2.4% of their income in FICA.
That’s right folks! The biggest funding issue for much of the government is that the wealthy pay a LOWER percentage of their taxes than the poor do on a majority of items!
Comment by republicans hate facts — November 7, 2007 @ 2:50 pm
—–
Yeah, but you’re ignoring the fact that the top 1% pays apprx 99% of the capital gains tax…
why do you hate rich people?
November 7th, 2007 at 3:22 pm/sarc
The sad fact is that the current, inflated, oil prices and the weak dollar will only show their real effects a few years down the road. For instance, the oil embargo of 73, plus outrageously inflated land prices, resulted in the “stagflation” of the late 70’s.
I fear that the impending financial disaster will happen just in time to break the, all but inevitable, Democratic “super-majority”. The neocons are playing a dangerous game. They need to sow the seeds of collapse yet avoid it until they can blame the Dems. Of course, should they hold power through the next election they may have set up themselves for the fall. If that occurs we will see an “about face” on virtually all financial policies.
November 7th, 2007 at 3:26 pmIf one really wanted to stimulate the national economy, all income up to the yearly minimum wage would be exempt from FICA and Medicare/Medicaid and after that let it go on for the remainder of the year. The boost to the economy would be stratospheric. This would also ensure the elderly and disadvantaged support plans survival well into the next ten millennia. After that, I do not really care.
November 7th, 2007 at 3:46 pmIf gas is $4.00/gallon next fall Republicans are in real trouble.
Comment by gulfwargrunt — November 7, 2007 @ 1:23 pm
It won’t be. The Saudis and the oil companies know who their friends are. It’ll be just under $2/gallon by summer of next year.
November 7th, 2007 at 3:50 pmTax the rich and feed the poor.’til there aren’t no rich no more.
I know you libs would love to turn this country into North Cuba, but do you mind if us educated folk try to at least slow down your destruction of America?
November 7th, 2007 at 3:53 pmThere was a period in history when the average worker had to work for three or four thousand years in order to earn as much as someone on the top of the pile earned in but a year. It took twenty years and a World War to climb out of that morass. We are on that abyss once again.
November 7th, 2007 at 4:21 pmAnd, why are you attacking me pesonally? Do you always devolve to childlike accusations when confronted with, gasp, an opposing and informed viewpoint?…
Comment by JT — November 7, 2007 @ 2:14 pm
when did that happen?
I know you libs would love to turn this country into North Cuba, but do you mind if us educated folk try to at least slow down your destruction of America?
Comment by muckdog — November 7, 2007 @ 3:53 pm
It wuld be nice if you tried to do that, instead of accelerating it. But that’s OK, lie some more, you’re very good at it.
November 7th, 2007 at 5:15 pmI dont give a damn about percent this or percent that. Here’s the FACT: The rich make their money off the backs of the middle and lower class. The corporate culture has changed from one of community to one of personal greed, thus the rich get richer and the poor get poorer and it is becoming so hard to break out of your class. If corporations and executives aren’t going to be responsible to their employees, then maybe the govt must force them to be. There is no person alive or dead worth more than an annual salary of say $5M.
November 8th, 2007 at 12:35 pm