It's a little late now, but, apparently 14,000 IRS workers got the same cold during the Trump Shutdown.
Obama wanted to divert $75 billion from the bailout fund in order to help homeowners directly affected by the mortgage crisis instead of throwing it into the parasitic maw of Wall Street, and the response from conservatives was to form the Tea Party.
Rick Santelli, a former fucking hedge fund manager and commodities trader, called it Communism and every shitkicking nostril sore in the country donned a tricorn hat and set off to march on the Capital in order to stop the government from helping them out instead helping the banks that screwed them. The Republican party is 2% evil and 98% stupid.
Last edited by Slybak; 2019-01-25 at 10:12 PM.
Lawsuit brought by federal workers continues. Ending the Trump Shutdown did not stop the lawsuit brought for starting it in the first place.
Jeezy991's alt-history book.
Repeal and Replace: We replaced it!
The shutdown: Trump is on video saying he would do own it himself, but it's clearly the dems' fault for pushing a bill that we were passing last year!
Numerous Trump Campaign convictions: oh those were outsiders. But they're also being framed!!!
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"I would let Anduin ravish me." - aiko
The country could do worse than having Nancy Pelosi as president. She is ruthless, efficient, hard working, good organizer and, based on current event and past achievements, she is also a great negotiator.
Anybody remember when in 2008 Bush’s Treasury Secretary, Henry M. Paulson Jr., bent down on one knee as he pleaded with Nancy Pelosi not to “blow it up” by withdrawing her party’s support for the Bail Out Plan package over what Ms. Pelosi derided as a Republican betrayal. Republican betrayal referred to John Boehner last minute declaration that his caucus could not support the plan to allow the government to buy distressed mortgage assets from ailing financial companies.
We are talking about Hank Paulson, the man who was once, at Goldman Sachs, compared to God.
From Investment Dealers Digest in September 2001:
At Goldman Sachs' holiday party at New York's Jacob Javits Center last December, Bette Midler used an old joke to poke fun at the firm's chairman and chief executive officer, Henry Paulson.
Her story began with a gathering of top Goldman pros in heaven. As Midler described it, equity chief Tom Tuft, strategist Abby Joseph Cohen, and a number of other top executives were standing at the pearly gates when "suddenly the biggest limo they'd ever seen drove by and on the door it said: Hank Paulson's Limo. Surprised, Tom Tuft looked to St. Peter. 'They didn't tell us Hank Paulson was coming.'
"Oh,” answered St. Peter, “That's not Hank Paulson, that's God. Sometimes, he thinks he's Hank Paulson.”
It's not about having a positive impact on everyone is what I am saying. I am saying it needs to be aggregated - the good and the bad.
Take your tax cuts for example. It is not just about the rich getting tax cuts and that potentially benefiting employees as well. This is not just a gift of sorts and we debate the distribution. In order for to generate a net aggregate evaluation, you need to look at multiple facets here.
1) Opportunity costs: Even if you just assume that money is given out without any cost, then you have to look at what else could be done. Can cutting taxes for the rich have a positive impact on the economy? Possibly. But is utilizing the theoretical money for that really the best use of it? Other policies could have a much better effect on the economy overall. But those policies cannot be adopted, if the money is already bound elsewhere. To illustrate, just assume that you have 10 thousand dollars to give away to help your local community. What is the better use of that money, give it all to someone who is already rich and hope he does not just put it in the bank, or to give ten people who have fallen on really hard times a grand each to get back on their feet? That's just one example, but if you only look on the former option, it still appears positive, even if it is not optimal.
2) The actual cost: But the above assumes that there is no cost at all from the policy. Going back to the tax cut - that is not free money. The US is in massive debt and keeps accumulating more. It runs a deficit. It has costs from policies, which are paid for by the income, mostly tax revenue.
As such, cutting taxes means reducing your revenue. The Republicans claim that the tax cuts pay for themselves, i.e. that reducing the rate on the wealthy will cause them to spend/invest more, ultimately pushing the economy higher, so that you can earn a higher tax revenue at a lower rate. They claim we are on a specific part of the Laffer curve, which plots that, but so far there is not much evidence of that. The economy is humming along, sure. But does tax revenue increase overall? So far, projections do not seem to indicate as much.
Hence, the tax are, at least right now, a net loss overall for government funding. Now, since the government is so big and complex, it is a bit hard to see direct cause and effect. But, heavily simplified: if the government earns less, then there are usually two options to pursue:
a) Spend less. I.e. cut programs like subsidies or services for the poor, Medicaid, all that kind of stuff. Cutting the taxes for Bill Gates can cause a single mom in New York no longer having access to a daycare center for her kids. But since that link is not directly obvious, it is too often ignored when one only looks at the explicit effects of a policy.
b) Take on more debt. That is what politicians like to do the most in such cases. It's basically shifting the burden into the future, hoping that the economy will improve even more till then, so that it is no problem. If it does not improve though, then later generations have to suffer from less government spending.
3) The temporal axis: The effect of a policy needs to be considered over time as well, and long-term effects need to be considered. Do the positive effects of the tax cuts last longer than the negative ones? Vice versa? Just because the economy is humming along quite nicely right now does not mean it will in a year.
What he should have done from the beginning was ask for just enough money to build some barriers at "problems locations", then gradually get more money to build more barriers as more "problem locations" appeared (at the discretion of someone sympathetic to his agenda). He might have been able to sneak much of his wall in over ten years if he had been patient.
"If you are ever asking yourself 'Is Trump lying or is he stupid?', the answer is most likely C: All of the Above" - Seth Meyers