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Obama says tax the wealthy

by C1ay / July 15, 2011 2:11 AM PDT

Obama: Time to 'seize the moment' on debt and deficits

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My bet would be that the Republicans will cave
by Steven Haninger / July 15, 2011 10:23 AM PDT

and then find a way to save face among their supporters. It's not as if that party wasn't an accomplice in creating the need for this showdown. While I have serious reservations about the Obama's deficit reduction plan, he made it clear during his campaign that the wealthy would take a hit. He never tried to hide it and he was elected anyway. He needs to be allowed his turn at the wheel but I do expect we'll feel some bumps.

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They cave,, we are Done for, the obama Socialists win!
by eugpenn123 / July 15, 2011 11:32 AM PDT

Some bumps!!?? r u kidding me! This idiot has spent us into HUGE RUTS and NOW wants to make them even deeper!

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They may not, Steve...
by J. Vega / July 15, 2011 2:39 PM PDT

Steve, they may not cave. Remember read my lips, No new taxes? It was turned into a political "weapon" in an election.
If the Republicans said no taxes in the situation at hand and then changed (caved), I think that it would be used as a "weapon" the same way in the upcoming election. I think that the Republicans in Congress also see that possibility. That's the problem with some weapons- lines of attack, once you've used it the other side may watch for it in the future. We'll have to see what happens.

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Sure they will.
by C1ay / July 15, 2011 6:29 PM PDT

Just Google the debt ceiling history and the deficit and you'll see they always raise it and then we always spend enough to hit the ceiling again. As always, there'll be some drama then Congress will raise the ceiling.

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Damn Right. 50% until the deficit is under control on every
by Ziks511 / July 15, 2011 1:16 PM PDT

household over $350,000, and the return of all the money that has been sucked out of Social Security and a Public Option on Health Care.

The Public Arrest of Mitch McConnell and the public pillorying of him and all his cronies like Cantor and Hatch and Orange John in stocks, preferably on the hottest day of the year, but outside of being slime balls, I cant think of a charge that would stick. That would have been great for Charlie Rangel too. "Think you're better than us, spend 12 hours in the hot sun, then see how superior you feel." Oh, and we've moved 18 welfare families into your properties, you're responsible for them for as long as you remain in the House.

Rob

I'm depressed, can you tell?

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Yes, Rob...
by J. Vega / July 15, 2011 2:41 PM PDT

Yes, Rob, some people can tell.

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Just wait to see what might happen if those wealtheir

persons need to suddenly draw down from their investments and send the money to the government. Watch what will happen when a flood of selling occurs in the stock markets. That's where much of their money is. It's not in their wallets. They won't be hurt but a lot of very small investors such as those with IRAs and 401ks could take hit as well. When you plan to shoot arrows over a hill it's a good idea to check behind it first instead of waiting until afterward.

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