Thai at Heart Posted November 7, 2012 Share Posted November 7, 2012 The two major peaks of the federal deficit in the 20th century occurred during World War I and World War II. Deficits increased steadily from the 1960s through the early 1990s, and then declined rapidly for the remainder of the 1990s. The federal deficit went over 10 percent of GDP in the aftermath of the financial crisis of 2008. Federal debt began the 20th century at less than 10 percent of GDP. It jerked above 30 percent as a result of World War I and then declined in the 1920s to 16.3 percent by 1929. Federal debt started to increase after the Crash of 1929, and rose above 40 percent in the depths of the Great Depression. Federal debt exploded during World War II to over 120 percent of GDP, and then began a decline that bottomed out at 32 percent of GDP in 1974. Federal debt almost doubled in the 1980s, reaching 60 percent of GDP in 1990 and peaking at 66 percent of GDP in 1996, before declining to 56 percent in 2001. Federal debt started increasing again in the 2000s, reaching 70 percent of GDP in 2008. Then it exploded in the aftermath of the Crash of 2008 (not to mention 2 prolonged wars), reaching 102 percent of GDP in 2011. http://www.usgovernm...icit_chart.html Well I find it the most interesting fact of all, that if GW had done nothing, and there had been no war on terror, the US debt would have actually been in surplus within a few years of GW getting into power. What did he do? Write a cheque back to the people? The most bizarre thing ever heard of in the history or western politics. And they say, Thai politicians pay to get it in. Irrespective who got in, the debt has ballooned since 2000 in the US. Much from wars, and then Obama threw in healthcare on top. I don't really count the bailout, because that was pure expedient decision taken by both sides to differing levels at slightly different times. So, something has to give, and Romney's plan is to cut taxes? Oh, puuuurlllllleeeeze. Yes, trickle down. Bla bla bla. Romney earned x Mn$$ and paid 16 or 18% plus his state taxes. It's great, and basically it isn't enough to attempt to pay even for the wars that the US has had been going on for the last 12 years. So, people have to pay more. If they lever 5mn out of someone who earns 20mn a year at 25%r, how many people on 40,000 per year do you have to tax at 20% to get 5mn USD? It aint personal, its just business. 1 Link to comment Share on other sites More sharing options...
Nisa Posted November 7, 2012 Share Posted November 7, 2012 (edited) The two major peaks of the federal deficit in the 20th century occurred during World War I and World War II. Deficits increased steadily from the 1960s through the early 1990s, and then declined rapidly for the remainder of the 1990s. The federal deficit went over 10 percent of GDP in the aftermath of the financial crisis of 2008. Federal debt began the 20th century at less than 10 percent of GDP. It jerked above 30 percent as a result of World War I and then declined in the 1920s to 16.3 percent by 1929. Federal debt started to increase after the Crash of 1929, and rose above 40 percent in the depths of the Great Depression. Federal debt exploded during World War II to over 120 percent of GDP, and then began a decline that bottomed out at 32 percent of GDP in 1974. Federal debt almost doubled in the 1980s, reaching 60 percent of GDP in 1990 and peaking at 66 percent of GDP in 1996, before declining to 56 percent in 2001. Federal debt started increasing again in the 2000s, reaching 70 percent of GDP in 2008. Then it exploded in the aftermath of the Crash of 2008 (not to mention 2 prolonged wars), reaching 102 percent of GDP in 2011. http://www.usgovernm...icit_chart.html Well I find it the most interesting fact of all, that if GW had done nothing, and there had been no war on terror, the US debt would have actually been in surplus within a few years of GW getting into power. What did he do? Write a cheque back to the people? The most bizarre thing ever heard of in the history or western politics. And they say, Thai politicians pay to get it in. Irrespective who got in, the debt has ballooned since 2000 in the US. Much from wars, and then Obama threw in healthcare on top. I don't really count the bailout, because that was pure expedient decision taken by both sides to differing levels at slightly different times. So, something has to give, and Romney's plan is to cut taxes? Oh, puuuurlllllleeeeze. Yes, trickle down. Bla bla bla. Romney earned x Mn$$ and paid 16 or 18% plus his state taxes. It's great, and basically it isn't enough to attempt to pay even for the wars that the US has had been going on for the last 12 years. So, people have to pay more. If they lever 5mn out of someone who earns 20mn a year at 25%r, how many people on 40,000 per year do you have to tax at 20% to get 5mn USD? It aint personal, its just business. What I find insane is all the so-called patriots in the US who backed these wars and constantly talk of the hero soldiers (as if to be connected to them) and their sacrifices are usually the same people who are not only unwilling to pay a tiny share of their income to support the war(s) effort but believed it right to cut taxes while the US was involved in two wars whose costs are around 4 Trillion Dollars (http://www.reuters.com/article/2011/06/29/us-usa-war-idUSTRE75S25320110629) On a side note when looking at the charts -- it is relevant to consider GDP spiked during WWII Edited November 7, 2012 by Nisa Link to comment Share on other sites More sharing options...
Thai at Heart Posted November 7, 2012 Share Posted November 7, 2012 Obama, who was re-elected to the White House for a second term yesterday, will visit the Kingdom on November 18 and meet with Prime Minister Yingluck Shinawatra on the day of his arrival. http://www.nationmul...n-30193905.html Interesting that the Chinese Premier is coming at the same time, although watching the politburo get together in China, maybe it won't be him coming. If the Chinese premier and Obama are in Thailand together, I guess Yingluck will pour the water whilst the CEO of CP hosts a meeting. Link to comment Share on other sites More sharing options...
Thai at Heart Posted November 7, 2012 Share Posted November 7, 2012 (edited) The two major peaks of the federal deficit in the 20th century occurred during World War I and World War II. Deficits increased steadily from the 1960s through the early 1990s, and then declined rapidly for the remainder of the 1990s. The federal deficit went over 10 percent of GDP in the aftermath of the financial crisis of 2008. Federal debt began the 20th century at less than 10 percent of GDP. It jerked above 30 percent as a result of World War I and then declined in the 1920s to 16.3 percent by 1929. Federal debt started to increase after the Crash of 1929, and rose above 40 percent in the depths of the Great Depression. Federal debt exploded during World War II to over 120 percent of GDP, and then began a decline that bottomed out at 32 percent of GDP in 1974. Federal debt almost doubled in the 1980s, reaching 60 percent of GDP in 1990 and peaking at 66 percent of GDP in 1996, before declining to 56 percent in 2001. Federal debt started increasing again in the 2000s, reaching 70 percent of GDP in 2008. Then it exploded in the aftermath of the Crash of 2008 (not to mention 2 prolonged wars), reaching 102 percent of GDP in 2011. http://www.usgovernm...icit_chart.html Well I find it the most interesting fact of all, that if GW had done nothing, and there had been no war on terror, the US debt would have actually been in surplus within a few years of GW getting into power. What did he do? Write a cheque back to the people? The most bizarre thing ever heard of in the history or western politics. And they say, Thai politicians pay to get it in. Irrespective who got in, the debt has ballooned since 2000 in the US. Much from wars, and then Obama threw in healthcare on top. I don't really count the bailout, because that was pure expedient decision taken by both sides to differing levels at slightly different times. So, something has to give, and Romney's plan is to cut taxes? Oh, puuuurlllllleeeeze. Yes, trickle down. Bla bla bla. Romney earned x Mn$$ and paid 16 or 18% plus his state taxes. It's great, and basically it isn't enough to attempt to pay even for the wars that the US has had been going on for the last 12 years. So, people have to pay more. If they lever 5mn out of someone who earns 20mn a year at 25%r, how many people on 40,000 per year do you have to tax at 20% to get 5mn USD? It aint personal, its just business. What I find insane is all the so-called patriots in the US who backed these wars and constantly talk of the hero soldiers (as if to be connected to them) and their sacrifices are usually the same people who are not only unwilling to pay a tiny share of their income to support the war(s) effort but believed it right to cut taxes while the US was involved in two wars whose costs are around 4 Trillion Dollars (http://www.reuters.c...E75S25320110629) On a side note when looking at the charts -- it is relevant to consider GDP spiked during WWII Look, anyone who gets involved on the ground in wars that have been going on for the last 10 years or so, is a genuine hero. I worked in a zone for a few months, and it was terrifying personally. These guys are brave beyond. But, there is another reality to consider, that there were some pretty big political porky pies told about WMD, money got spent in the gazzilions, and none of the objectives were really achieved. Now I don't want to get into the politics of American intervention, since I am not American, but certainly in the Uk, we have realised, we have reached our financial limit to fight these wars. Fighting against terrorism is absolutely correct, and I will always support that, but what has been going on has gone beyond that, and it will bankrupt the west, if, we don't choose our battles in a smarter way. Like I said earlier, taxing a USD millionaire at 25% per year yeilds 250k. How many people do you have to tax on 30k per year to get the same amount. Then the marginal difference from making that millionaire 255k, hurts him very little, but I am sure someone with an MBA from Harvard will explain to me otherwise. Edited November 7, 2012 by Thai at Heart Link to comment Share on other sites More sharing options...
Nisa Posted November 7, 2012 Share Posted November 7, 2012 The two major peaks of the federal deficit in the 20th century occurred during World War I and World War II. Deficits increased steadily from the 1960s through the early 1990s, and then declined rapidly for the remainder of the 1990s. The federal deficit went over 10 percent of GDP in the aftermath of the financial crisis of 2008. Federal debt began the 20th century at less than 10 percent of GDP. It jerked above 30 percent as a result of World War I and then declined in the 1920s to 16.3 percent by 1929. Federal debt started to increase after the Crash of 1929, and rose above 40 percent in the depths of the Great Depression. Federal debt exploded during World War II to over 120 percent of GDP, and then began a decline that bottomed out at 32 percent of GDP in 1974. Federal debt almost doubled in the 1980s, reaching 60 percent of GDP in 1990 and peaking at 66 percent of GDP in 1996, before declining to 56 percent in 2001. Federal debt started increasing again in the 2000s, reaching 70 percent of GDP in 2008. Then it exploded in the aftermath of the Crash of 2008 (not to mention 2 prolonged wars), reaching 102 percent of GDP in 2011. http://www.usgovernm...icit_chart.html Well I find it the most interesting fact of all, that if GW had done nothing, and there had been no war on terror, the US debt would have actually been in surplus within a few years of GW getting into power. What did he do? Write a cheque back to the people? The most bizarre thing ever heard of in the history or western politics. And they say, Thai politicians pay to get it in. Irrespective who got in, the debt has ballooned since 2000 in the US. Much from wars, and then Obama threw in healthcare on top. I don't really count the bailout, because that was pure expedient decision taken by both sides to differing levels at slightly different times. So, something has to give, and Romney's plan is to cut taxes? Oh, puuuurlllllleeeeze. Yes, trickle down. Bla bla bla. Romney earned x Mn$$ and paid 16 or 18% plus his state taxes. It's great, and basically it isn't enough to attempt to pay even for the wars that the US has had been going on for the last 12 years. So, people have to pay more. If they lever 5mn out of someone who earns 20mn a year at 25%r, how many people on 40,000 per year do you have to tax at 20% to get 5mn USD? It aint personal, its just business. What I find insane is all the so-called patriots in the US who backed these wars and constantly talk of the hero soldiers (as if to be connected to them) and their sacrifices are usually the same people who are not only unwilling to pay a tiny share of their income to support the war(s) effort but believed it right to cut taxes while the US was involved in two wars whose costs are around 4 Trillion Dollars (http://www.reuters.c...E75S25320110629) On a side note when looking at the charts -- it is relevant to consider GDP spiked during WWII Look, anyone who gets involved on the ground in wars that have been going on for the last 10 years or so, is a genuine hero. I worked in a zone for a few months, and it was terrifying personally. These guys are brave beyond. But, there is another reality to consider, that there were some pretty big political porky pies told about WMD, money got spent in the gazzilions, and none of the objectives were really achieved. Now I don't want to get into the politics of American intervention, since I am not American, but certainly in the Uk, we have realised, we have reached our financial limit to fight these wars. Fighting against terrorism is absolutely correct, and I will always support that, but what has been going on has gone beyond that, and it will bankrupt the west, if, we don't choose our battles in a smarter way. Like I said earlier, taxing a USD millionaire at 25% per year yeilds 250k. How many people do you have to tax on 30k per year to get the same amount. Then the marginal difference from making that millionaire 255k, hurts him very little, but I am sure someone with an MBA from Harvard will explain to me otherwise. When it comes to paying for a war then everyone's taxes needs to increase to cover the expense of such war ... if people don't want to pay then easy enough .. don't have the war. I would bet most of the fat cats who supported the wars (often to make a profit) and who feign their love of soldiers and their families would not support the wars if it cost them some money (extra taxes to cover the war). Bottom line is oil companies, Wallstreet are making record profits while the country is drowning in debt. Link to comment Share on other sites More sharing options...
Markaew Posted November 7, 2012 Share Posted November 7, 2012 I left the States to get away from the inbred Obama haters. With a name like kennedy that is obvious. Link to comment Share on other sites More sharing options...
Markaew Posted November 7, 2012 Share Posted November 7, 2012 "Mr Anon said the US will focus on promoting domestic shale gas production in order to lower oil imports, which will help create jobs for Americans but that will take time. The next two years could see oil prices as high as US$100/barrel." The first sentence is a lie. Obama is blocking oil exploration as a whole. The second sentence is true. Oil prices will skyrocket. Obama said in his first term that "oil prices would necessarily skyrocket" so he can promote his green agenda. $100 a barrel is just scratching the surface. Link to comment Share on other sites More sharing options...
webfact Posted November 7, 2012 Author Share Posted November 7, 2012 please continue: Obama victory good news for Thailand Full story: http://www.thaivisa....s-for-thailand/ //CLOSED// Link to comment Share on other sites More sharing options...
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