Well I guess it was inevitable. The clamoring and incompetence of our government to make a plan that puts any sort of dent in our debt has lead to us being downgraded from a AAA to an AA credit country, which puts us in the same bracket as Japan, China, Belgium, and Qatar. To top it off they list our outlook as negative, which means we may likely be downgraded further.
This means our government will have to pay a higher interest rate to bond investors and the bonds are considered a riskier asset. Investors would instead likely look to the UK Germany, France, or Canada with their AAA ratings. A country that used to be near the top is now dwindling away into nothing.
This is how it goes when your average inhabitants barely pay any taxes, in the US it's the rich people paying most of the taxes. In Sweden I would have to pay 30% tax if I earned ~5000 dollars/month, in the US I would have to pay like 10%?
But I guess the QQ would be legendary if they increased the taxes...
Standard & Poor - AA
Moody - AAA
Fitch - Under Review
Now, while I am happy we still have our triple A rating for Moody, the Standard & Poor double A rating is bound to hurt.
Everybody just remember, when elections come along, John Boehner caused this.
If we would've put revenue increases in the debt ceiling bill this probably wouldn't have happened. The Tea Party I feel is also to blame. I don't see why they pander to the top 10% of earners, oh wait "Job Creators", when they are just hoarding the money. I've hated the gov for a long time and I feel the Tea Party is trying to steal my thunder for all of the wrong reasons lol. And I know this is unimportant, but the rating is AA+, not AA. Or at least that's what I read last night.
This is how it goes when your average inhabitants barely pay any taxes, in the US it's the rich people paying most of the taxes. In Sweden I would have to pay 30% tax if I earned ~5000 dollars/month, in the US I would have to pay like 10%?
This mentality drives me up the wall personally.
Yes, there are a few poor people that don't pay taxes. Obviously the United States Government should focus on making them pay instead of making the rich pay their fair share. This is just logical. Why get 200 dollars you are owed when you can get 10 cents that you are owed, right?
I've never been able to understand the right wing conservative ideology...
If we would've put revenue increases in the debt ceiling bill this probably wouldn't have happened. The Tea Party I feel is also to blame. I don't see why they pander to the top 10% of earners, oh wait "Job Creators", when they are just hoarding the money. I've hated the gov for a long time and I feel the Tea Party is trying to steal my thunder for all of the wrong reasons lol. And I know this is unimportant, but the rating is AA+, not AA. Or at least that's what I read last night.
The Tea Party holds a large portion of the blame, yes, but John Boehner is the single most responsible man in the nation. In my personal opinion, if it were up to me, I'd pass a bill where whenever somebody saw him, they were legally forced to throw rocks at the bastard.
But that's just me. Lol.
One more thing. The "Job Creators" for which these tax cuts have been dished out to over and over ARE NOT MAKING JOBS! I know that was your point, but I wanted to make sure that was very clear to anybody else reading.
You feel for them? No offence mate but from where exactly are u ? Because the conciquances from the us cryssis are hitting every country on this planet. For example on thursday-friday 60 billion were wiped from the british market because of fears that us goverment will not manage to sort out their problems. If u ask me we should be all concerned about this matter because we are all effected by it not just the usa.
And i am sorry to say this but as far as i am concerned if it wasnt for the negative effects that we feel (europe) i wouldnt give a shit about usa because they started all this mess and they should be the one who pay. To make things worse almost nothing has been done so far in order for the goverment (the usa one in europe steps have been taken for the system to be `fixed`) to make sure that such thing never happens again which makes me care even less. What i care a lot about is seeing ppl like me who work for 20-30 k per year to be ending up paying a lot more taxes, getting much lesser wages (just this year the wages for my profession dropped with 4 £ for h which is A LOT for me), and its getting harder and harder to find a job.
We have the same problem here that you have. Everything around us is going up in price and our wages are getting less and less. The corporations who lobby in congress have control of our country not us. The reason nothing is being done about it is because the super rich do everything in their power to keep their clutches on our home. Why don't we rise up? Well it seems our citizens are torn between the ones who see the problem and the ones who listen to propaganda such as Rupert Murdoch's FOX "news" Im hoping for a revolution, personally.
This is how it goes when your average inhabitants barely pay any taxes, in the US it's the rich people paying most of the taxes. In Sweden I would have to pay 30% tax if I earned ~5000 dollars/month, in the US I would have to pay like 10%?
But I guess the QQ would be legendary if they increased the taxes...
EDIT: I need to stop writing things with facts and numbers in the morning.
Rather than stating things in my own words, simply look. Solely owned businesses pay 72% of total business taxes as of 2007. Corporations, 6%.
They still call the various classes the same thing, but the amount of money they make just keeps getting higher at the top. Even if the tax rates were flat for all people, they'd end up paying ever increasing amounts of the total taxes.
::grabs sword and shield:: Just getting ready if this starts getting out of hand. I know I can have a civil debate, but not all can.
Link, Agree with everything you said
Zombie, I like to use the term "modern serfdom" What gets me is they yell for entitlement cuts for the poor yet they sit back and collect million dollar subsidies. They want us poor and on the street and I don't get why some of the middle class works as tools for people who ultimately want them in the gutter too.
This is how it goes when your average inhabitants barely pay any taxes, in the US it's the rich people paying most of the taxes. In Sweden I would have to pay 30% tax if I earned ~5000 dollars/month, in the US I would have to pay like 10%?
This mentality drives me up the wall personally.
Yes, there are a few poor people that don't pay taxes. Obviously the United States Government should focus on making them pay instead of making the rich pay their fair share. This is just logical. Why get 200 dollars you are owed when you can get 10 cents that you are owed, right?
I've never been able to understand the right wing conservative ideology...
No offense intended, of course.
It was my understanding that the rich already paid their fair share. My point was that if everyone gives an equal share of their salary it can be used to help those who don't have a job or is sick and need help to get back on their feet.
This is how it goes when your average inhabitants barely pay any taxes, in the US it's the rich people paying most of the taxes. In Sweden I would have to pay 30% tax if I earned ~5000 dollars/month, in the US I would have to pay like 10%?
This mentality drives me up the wall personally.
Yes, there are a few poor people that don't pay taxes. Obviously the United States Government should focus on making them pay instead of making the rich pay their fair share. This is just logical. Why get 200 dollars you are owed when you can get 10 cents that you are owed, right?
I've never been able to understand the right wing conservative ideology...
No offense intended, of course.
It was my understanding that the rich already paid their fair share. My point was that if everyone gives an equal share of their salary it can be used to help those who don't have a job or is sick and need help to get back on their feet.
It would be nice if there was a flat and fair tax rate, but our tax laws being what they are have a massive number of ways that people can escape the taxes they should be paying.
It's the manner in which GE (#6 on the fortune 500 for companies) managed to pay literally no taxes in 2010.
It was my understanding that the rich already paid their fair share. My point was that if everyone gives an equal share of their salary it can be used to help those who don't have a job or is sick and need help to get back on their feet.
It's actually a common misconception that the rich pay their fair share, or more. It is also common misconception that a duck's quack doesn't echo.
But anyway, a large portion of the rich do everything in their power to keep from paying any taxes they can get away with. That's why I believe the tea party is hilarious. I laugh so hard when I watch them talk.
What i care a lot about is seeing ppl like me who work for 20-30 k per year to be ending up paying a lot more taxes, getting much lesser wages (just this year the wages for my profession dropped with 4 £ for h which is A LOT for me), and its getting harder and harder to find a job.
Gosh, I certainly hope you don't think THAT is the fault of the U.S.
This new credit rating was simply inevitable. The U.S. government has been operating way beyond its means for some time now. This is no different than a poorer American now having to pay higher interest rates or monthy payments on their debt because their creditors are worried about getting their money back.
People continue also to expect just as much as ever for government services but we don't want to pay higher taxes for them. And Americans lie when they think they're against big goverment. We love government. Despite the rhetoric you'll hear of so many people here against big government, we continue to expect government to take care of so many things and we demand that we pay so little for it all.
Also the U.S. government has been creating all sorts of laws lately to enforce more responsible lending practices on banks and consumers, and now it's simply in the same situation as those people and is dealing with consequences for its own unbridled spending and overall lack of fiscal discipline and so places like China are merely protecting their own investments.
Dwindling into nothing? Really Daemaro? A bit extreme don't you think? lol. THE WORLD IS ENDING WITH THIS ONE BOYS!
Rollback Post to RevisionRollBack
"I want to say something but I'll keep it to myself I guess and leave this useless post behind to make you aware that there WAS something... "
-Equinox
"We're like the downtown of the Diablo related internet lol"
-Winged
Why don't we rise up? Well it seems our citizens are torn between the ones who see the problem and the ones who listen to propaganda such as Rupert Murdoch's FOX "news" Im hoping for a revolution, personally.
Because most Americans are fat, lazy, and stupid. If you think something like Egypt would happen in this country your insane. Something like 50% of the country votes which is ridiculous. People in this country don't want to vote because they think their vote wont make a difference. In other countries people WANT to vote because they KNOW their vote matters. I live next to a Lebanese family and they go back to Lebanon to vote in their elections everytime because it's their right.
Why don't we rise up? Well it seems our citizens are torn between the ones who see the problem and the ones who listen to propaganda such as Rupert Murdoch's FOX "news" Im hoping for a revolution, personally.
Because most Americans are fat, lazy, and stupid. If you think something like Egypt would happen in this country your insane. Something like 50% of the country votes which is ridiculous. People in this country don't want to vote because they think their vote wont make a difference. In other countries people WANT to vote because they KNOW their vote matters. I live next to a Lebanese family and they go back to Lebanon to vote in their elections everytime because it's their right.
I don't vote. I must be fat lazy and stupid.
Rollback Post to RevisionRollBack
"I want to say something but I'll keep it to myself I guess and leave this useless post behind to make you aware that there WAS something... "
-Equinox
"We're like the downtown of the Diablo related internet lol"
-Winged
Why don't we rise up? Well it seems our citizens are torn between the ones who see the problem and the ones who listen to propaganda such as Rupert Murdoch's FOX "news" Im hoping for a revolution, personally.
Because most Americans are fat, lazy, and stupid. If you think something like Egypt would happen in this country your insane. Something like 50% of the country votes which is ridiculous. People in this country don't want to vote because they think their vote wont make a difference. In other countries people WANT to vote because they KNOW their vote matters. I live next to a Lebanese family and they go back to Lebanon to vote in their elections everytime because it's their right.
Why don't we rise up? Well it seems our citizens are torn between the ones who see the problem and the ones who listen to propaganda such as Rupert Murdoch's FOX "news" Im hoping for a revolution, personally.
Because most Americans are fat, lazy, and stupid. If you think something like Egypt would happen in this country your insane. Something like 50% of the country votes which is ridiculous. People in this country don't want to vote because they think their vote wont make a difference. In other countries people WANT to vote because they KNOW their vote matters. I live next to a Lebanese family and they go back to Lebanon to vote in their elections everytime because it's their right.
Don't even get me started on voting inconsistencies that cater to the right side of the aisle.
It wasn't really a question, now was it? See, that was a question. And that, wasn't. Nor is this. But is this? Yes, yes it is.
That aside, I've personally found people with a quick pointer finger to usually be the blind sheep. Who are you to judge me for not voting? That you would judge in the first place is evidence enough that the previous question doesn't even need to be asked because frankly, it doesn't matter who you are or what you have done because if you would truly place such quick judgement against someone you have no knowledge of, then you most likely have no time to judge yourself.
But hey, what in the world do I know, I'm one of those dumb fat people who don't vote.
Rollback Post to RevisionRollBack
"I want to say something but I'll keep it to myself I guess and leave this useless post behind to make you aware that there WAS something... "
-Equinox
"We're like the downtown of the Diablo related internet lol"
-Winged
I not only don't judge you for not voting. I don't blame you either. While I personally vote in every election, I'm not sure what that even has to do with what we're talking about.
The people we vote for in the House and Senate that passes laws such as raising the debt ceiling, those politicians have no term limits. So they continue to do what is most popular, not what is most prudent.
And the president, well we far from directly vote him into office.
Well I guess it was inevitable. The clamoring and incompetence of our government to make a plan that puts any sort of dent in our debt has lead to us being downgraded from a AAA to an AA credit country, which puts us in the same bracket as Japan, China, Belgium, and Qatar. To top it off they list our outlook as negative, which means we may likely be downgraded further.
This means our government will have to pay a higher interest rate to bond investors and the bonds are considered a riskier asset. Investors would instead likely look to the UK Germany, France, or Canada with their AAA ratings. A country that used to be near the top is now dwindling away into nothing.
We'll likely see an impact monday.
http://news.yahoo.com/p-reconsidering-u-downgrade-cnbc-001207261.html
Moody - AAA
Fitch - Under Review
Now, while I am happy we still have our triple A rating for Moody, the Standard & Poor double A rating is bound to hurt.
Everybody just remember, when elections come along, John Boehner caused this.
But I guess the QQ would be legendary if they increased the taxes...
If we would've put revenue increases in the debt ceiling bill this probably wouldn't have happened. The Tea Party I feel is also to blame. I don't see why they pander to the top 10% of earners, oh wait "Job Creators", when they are just hoarding the money. I've hated the gov for a long time and I feel the Tea Party is trying to steal my thunder for all of the wrong reasons lol. And I know this is unimportant, but the rating is AA+, not AA. Or at least that's what I read last night.
This mentality drives me up the wall personally.
Yes, there are a few poor people that don't pay taxes. Obviously the United States Government should focus on making them pay instead of making the rich pay their fair share. This is just logical. Why get 200 dollars you are owed when you can get 10 cents that you are owed, right?
I've never been able to understand the right wing conservative ideology...
No offense intended, of course.
The Tea Party holds a large portion of the blame, yes, but John Boehner is the single most responsible man in the nation. In my personal opinion, if it were up to me, I'd pass a bill where whenever somebody saw him, they were legally forced to throw rocks at the bastard.
But that's just me. Lol.
One more thing. The "Job Creators" for which these tax cuts have been dished out to over and over ARE NOT MAKING JOBS! I know that was your point, but I wanted to make sure that was very clear to anybody else reading.
As for the rating, sorry, I fixed it. Lol.
We have the same problem here that you have. Everything around us is going up in price and our wages are getting less and less. The corporations who lobby in congress have control of our country not us. The reason nothing is being done about it is because the super rich do everything in their power to keep their clutches on our home. Why don't we rise up? Well it seems our citizens are torn between the ones who see the problem and the ones who listen to propaganda such as Rupert Murdoch's FOX "news" Im hoping for a revolution, personally.
EDIT: I need to stop writing things with facts and numbers in the morning.
Rather than stating things in my own words, simply look. Solely owned businesses pay 72% of total business taxes as of 2007. Corporations, 6%.
http://www.ritholtz....already-or-not/
Also, one of the reasons that the top 1% now pay more of the total taxes than they used to is for this reason: http://en.wikipedia....ncome_gains.jpg
They still call the various classes the same thing, but the amount of money they make just keeps getting higher at the top. Even if the tax rates were flat for all people, they'd end up paying ever increasing amounts of the total taxes.
Link, Agree with everything you said
Zombie, I like to use the term "modern serfdom" What gets me is they yell for entitlement cuts for the poor yet they sit back and collect million dollar subsidies. They want us poor and on the street and I don't get why some of the middle class works as tools for people who ultimately want them in the gutter too.
Edit: added instead of doublepost.
It was my understanding that the rich already paid their fair share. My point was that if everyone gives an equal share of their salary it can be used to help those who don't have a job or is sick and need help to get back on their feet.
It would be nice if there was a flat and fair tax rate, but our tax laws being what they are have a massive number of ways that people can escape the taxes they should be paying.
It's the manner in which GE (#6 on the fortune 500 for companies) managed to pay literally no taxes in 2010.
It's actually a common misconception that the rich pay their fair share, or more. It is also common misconception that a duck's quack doesn't echo.
But anyway, a large portion of the rich do everything in their power to keep from paying any taxes they can get away with. That's why I believe the tea party is hilarious. I laugh so hard when I watch them talk.
This new credit rating was simply inevitable. The U.S. government has been operating way beyond its means for some time now. This is no different than a poorer American now having to pay higher interest rates or monthy payments on their debt because their creditors are worried about getting their money back.
People continue also to expect just as much as ever for government services but we don't want to pay higher taxes for them. And Americans lie when they think they're against big goverment. We love government. Despite the rhetoric you'll hear of so many people here against big government, we continue to expect government to take care of so many things and we demand that we pay so little for it all.
Also the U.S. government has been creating all sorts of laws lately to enforce more responsible lending practices on banks and consumers, and now it's simply in the same situation as those people and is dealing with consequences for its own unbridled spending and overall lack of fiscal discipline and so places like China are merely protecting their own investments.
Siaynoq's Playthroughs
-Equinox
"We're like the downtown of the Diablo related internet lol"
-Winged
I don't vote. I must be fat lazy and stupid.
-Equinox
"We're like the downtown of the Diablo related internet lol"
-Winged
Don't even get me started on voting inconsistencies that cater to the right side of the aisle.
It wasn't really a question, now was it? See, that was a question. And that, wasn't. Nor is this. But is this? Yes, yes it is.
That aside, I've personally found people with a quick pointer finger to usually be the blind sheep. Who are you to judge me for not voting? That you would judge in the first place is evidence enough that the previous question doesn't even need to be asked because frankly, it doesn't matter who you are or what you have done because if you would truly place such quick judgement against someone you have no knowledge of, then you most likely have no time to judge yourself.
But hey, what in the world do I know, I'm one of those dumb fat people who don't vote.
-Equinox
"We're like the downtown of the Diablo related internet lol"
-Winged
The people we vote for in the House and Senate that passes laws such as raising the debt ceiling, those politicians have no term limits. So they continue to do what is most popular, not what is most prudent.
And the president, well we far from directly vote him into office.
Siaynoq's Playthroughs