How is Obama doing?
Posted by SnowQueen690 on Jan 28, 2010 · Member since Jun 2005 · 1569 posts
My dad hate's Obama. He is convinced that he is going to lower the standard of living for future generations, such as his younger children, and my son and going to make the economy worse before it gets better.
My dad is also facing his business failing after it has been very prosperous for the past 8 years due to higher taxes and the horrible economy, he is loosing his customers.
I am not so crazy either as I think he is spending way too much money and my son and other children of today are the ones who are going to have to pay for it, and I am really worried about that.
What is your opinion?
Where is that?
If I recall my government classes correctly, most money for government spending comes from taxes, and loans from other countries.
Is is the loans from other countries I worry about.
How are we going to pay off all those loans? Are we going to have to give them land, goods?
I doubt the US is borrowing much from other countries. They seem to spend more time lending money to other countries who don't pay it back...
Where is that?
If I recall my government classes correctly, most money for government spending comes from taxes, and loans from other countries.
Is is the loans from other countries I worry about.
How are we going to pay off all those loans? Are we going to have to give them land, goods?
As part of the Federal Reserve System, we either take out loans or give bonds to banks that operate in the US. This is were we tend to get most of our money. There is also a process that some countries can take out loans through the World Bank.
We are such a large country, that we take out loans directly from a country or bank. The US uses our large economy and track record as collateral (not land or other holdings). Most loans are soon payed back. Then sometimes taken out again. This economic crisis made most banks in the US and the world that for a short time after October of 2008 the only banks that were solevent enough to loan us money were primarily from China. I believe that we payed these off within a few months. I would assume that since most instiutions in the US have recovered that we are depending more on them for funds.
Since the US is such an intregal part to the world's economy and is a large military force, I really doubt that other countries would use loans as a way of exerting their agendas. If say a Chinese bank threated to call back a loan too soon, we could say that we will not purchase as many Chinese products or not support them in the UN and so on.
yg - We're funding our "war on terror" by borrowing from China.
SnowQueen - Hospitals are required to provide emergency health care for all people, regardless of their insurance coverage. The federal government compensates medical facilities for the expense. If these people had access to preventative care, federal compensation for emergency visits would be lower. Expanding health care coverage could come from funds already being spent on health care, it would just be structured differently. For example, my friend had strep throat and went to the emergency room. Her bill was $5,500. You could get a lot of regular doctors visits out of that amount and still break even with existing spending levels.
i think obama sucks, but is the economy his fault? no, that's silly.
Obama is just a puppet, as was every president before him, but he does share partial responsibility for the economic damage the government has always done and will always continue to do to the economy. The only "good government" (oxymoron?) is a government that exists for the sole purpose of its civilized dissolution, and thus the only "good politician" I've ever heard of was Ron Paul.
For example, my friend had strep throat and went to the emergency room. Her bill was $5,500. You could get a lot of regular doctors visits out of that amount and still break even with existing spending levels.
:o wow. i think that bill is even more than it cost me in the emergency room when i broke my toe.
The more that I think of it, the more I wonder why people are making such a big deal about the deficit.
Check this out, http://www.usdebtclock.org/, then lemmie know what ya think.
wow, that link is scary!
Here is what I got form Wiki and that link:
Average salery per household = $50,233
# of households in US = 116011000
That comes to a total income for all US citizens to be $5,827,580,563,000
That information is from 2006 when the economy was better, so I don't doubt that today it is less.
Anyway, the deficit is:
$4,159,671,000,000
So in otherwords, you would have to take almost 100% of everybody's salery for a year to pay off the deficit. Obviously not possible.
Why this scares me? Isn't it up to the american poeple to pay off the deficit? There literally isn't enough money in the american people to do so. So how exactly will it get paid off?
businesses pay taxes, too. and they make a lot more than people.
i did my taxes today and i seem to have gotten $400 more than i thought was going to get. did you do this, obama? if so i take back everything bad i ever said about you. (ok, not really, but it is nice to see something that think is new helping out us super low income folks)
i did my taxes today and i seem to have gotten $400 more than i thought was going to get.
It's actually better not to get a tax refund, that way you're not giving the government an interest free loan...so if this interests you, then adjust yer exemptions accordingly...just an idea. ;)b
i did my taxes today and i seem to have gotten $400 more than i thought was going to get.
It's actually better not to get a tax refund, that way you're not giving the government an interest free loan...so if this interests you, then adjust yer exemptions accordingly...just an idea. ;)b
true, but i kinda like having money that i didn't realize i have. buuut *shhhhh* i really should have gotten a bigger one than i am getting, but half the time my employer pays me cash -tax free- hehehe.
i agree with cygnusX1 (sweet avatar btw) about doing the forms so you don't get a big return.
I mastered that this year. I'm getting $10 back.
i agree with cygnusX1 (sweet avatar btw) about doing the forms so you don't get a big return.
I mastered that this year. I'm getting $10 back.
yeah, dustin did that, too, he's only getting $78.. other than the extra $400 which he also qualifies for (whooweee!). i was like OMG HOW ARE YOU NOT GETTING A WAY BIGGER RETURN THAN ME?!
I'm technically self employed and have paid no taxes. I was hoping to not end up owing a ton. I'm getting almost a $3,000 "refund." That is in quotes because it really isn't a refund even if they call it one. I didn't make much this year and qualified for the earned income tax credit. After I pay off some bills, my daughter and I are taking our first vacation. It will be a modest one, but I'm excited anyways. I agree it's best not to get a refund, but that doesn't apply to me this year. I have friends that have tons of extra money taken out to get a bigger refund. Crazy in my opinion.
so does pretty much everyone get a tax refund? How does that happen? Are your employers all not taxing you properly?
Like, the only time I have ever needed to do a tax return was last year because I'd only worked three months of the tax year before but they'd taxed me as if I was working the whole year. Even though free money at the end of the year does sounds fun, I'd be pretty pissed if the IRD was taking too much off me all year just to give it back later.
You get a tax refund based on your income bracket, married status, if you have children, etc. It also depends on if you paid any federal taxes. As lbarte points out, some people do not make enough to actually pay taxes. However, through earned income tax credit, they can still get a refund.
As for levying funds, the federal gov't does this through direct taxing, leasing government property, tariffs and duties and interest on loans (they still give loans to smaller countries, banks, corporations, etc.) to name a few. So to assume that it would take an X number of years to pay off the deficiet due to the estimated earnings of citizens, is not entirely accurate. Also, some of the loans and interest maybe forgiven or reduced through negotiation.
Everyone seems to be obsessed over the current defict. Yet, most people forget the much larger one the last through the end of Reagan's administration to the first haf of Clinton's. If I remember correctly, that was much larger. It also payed off within less than a decade.
Everyone seems to be obsessed over the current defict. Yet, most people forget the much larger one the last through the end of Reagan's administration to the first haf of Clinton's. If I remember correctly, that was much larger. It also payed off within less than a decade.
What's irritating is a lot of those complaining are republicans who certainly weren't saying anything as Bush was building up the deficit.
However, one big difference between Clinton (whom did not inherit Reagan's debt btw but Bush #1) is that he didn't propose a trillion dollar budget. That's quite scarey, but hopefully with an improved economy and more tax dollars coming in we'll be o.k., but the economy is going to have to really serious boom which it isn't doing.
I am actually getting a WAY more back then I expected. I am virtually getting back everything I paid in both state and federal taxes.
Earned income tax credit, child tax credit, dependent care tax credit, and I qualify for head of household status. Being a single mom has its advantages!
Best part yet, I didn't have to report child support as income. Way cool! ;)b
Like someone else said, I plan to use my tax return to pay off my car, buy a new GPS for the car, and take a vacation with my son. I like tax returns.
In 1952 President Truman established one day a year as a "National
> Day of Prayer."
>
> In 1988, President Reagan designated the first Thursday in May of each
> year as the National Day of Prayer.
>
> In June 2007, (then) Presidential candidate Barack Obama declared that
> the USA was no longer a Christian nation.
>
> Last year President Obama, canceled the 21st annual National Day of
> Prayer ceremony at the White House under the ruse of "not wanting to
> offend anyone"
>
> On September 25, 2009 from 4 am until 7 pm, a National Day of Prayer
> for the Muslim religion was held on Capitol Hill, beside the White
> House. There were over 50,000 Muslims that day in DC.
>
> I guess it doesn't matter if "Christians or any other religious
> groups" are offended by this event - we obviously don't count as
> "anyone" anymore.
>
> The direction this country is headed should strike fear in the heart
> of every person. Especially knowing that the Muslim religion believes
> that if Christians or other religions cannot be converted they should
> be annihilated
>
> This is not a rumor - Go to the website to confirm this info:
> (http://www.islamoncapitolhill.com/)
>
> Pay particular attention to the very bottom of the page:
> "OUR TIME HAS COME".
>
I am not even a very religious person and the whole eliminationg "In God we trust" and cancelling day of prayer and all that stuff just really ticks me off! What is wrong with the USA being a "Christian Country". It is isn't it? Since the majortity of the people who live here are christian? And he designated a day of muslim prayer when he took away the day of Christian prayer? :o
How fair is that?
wow, I think our president needs his mama to turn him over her knee for the things he is doing. What a jerk! Not wanting to offend anyone my arse. What about the Christians? Isn't he offending them?
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