US mid-terms: Republicans win control of the Senate

[bkkcanuck8]

Given the collapsed economy that Obama inherited, it was to be expected that the debt would increase partly as a result of both the stimulus and the need to feed those who lost their jobs and homes to the fraud on Wall Street. But Obama was still beholden to corporate America and let the bankers go free and refused to raise taxes on the upper 1% and upon the corporations or to close the loopholes that allow corporations to park profits offshore via accounting legerdemain. Yes, there are those who would see the US become a second class exporting nation by advocating the lowering corporate taxes to make exports more competitive. But I shudder to think what would happen to the US if it became another Thailand ruled by a disinterested ruling elite with no attachment whatsoever to nationhood.

As far as I am concerned the tax should be the same on any "luxury income" (i.e. non-essential income - all income above the "line of poverty"). Up until the poverty line the tax rate is 0%, after that line the tax is a set percentage for all income over that line - it is no longer essential income.... Over half the US population pay NO federal income tax, but complain that those that make more than them don't pay enough tax... which I find quite hypocritical. Drop the mortgage interest deduction - it is a home to live in -- not an investment. Get rid of all the deductions, and allowances. The rate of inflation is close to 30% above the last year of Clinton years, yet the spending has doubled.... If only us mortals had that for the duration of our life, inflation goes up and we get paid 3x+ more in annual increases over the rate of inflation.... life would be grand.

That "offshore money" is money that was made overseas (for the most part) and taxed in the appropriate countries. The government won't have the balls, but if they really wanted to close the loopholes they would drop the income tax on corporations (which is not a reliable source of funding - since it disappears in bad years, and goes up in good years - whereas personal income taxes and sales taxes are fairly stable). It would be replaced by a GST/VAT tax which would be applied to all goods and services sold in the US. Corporate income taxes are factored in anyways and thus get included in the cost of something that was produced. This way you apply the taxes to imports as well as companies that produce stuff in the US, and stuff that gets exported becomes much more competitive since it now costs less to manufacture in the US. Of course the people would yell and scream because they can see that almost directly, but it would work better than the current system since there are no special loopholes for certain companies that congress constantly adds into the tax code.

[NeverSure]

They haven't even been sworn in yet, JT.

...

Makes no difference. The congress AND senate is now controlled by right wing loonies. These people actually think Ted Cruz is a reasonable man. What they are going to be like is totally predictable.

Right wing loonies as compared to that famous left wing loony, Harry Reid (D-NV)?

The Democratic caucus thinks Reid is a reasonable man.

The opinion of the electorate on Tuesday would indicate they don't agree with your assessment of what a loon is.

Perhaps only 30-35% voted so hardly an overwhelming show of suport.

It's the people who really care most about what's happening who will be sure to vote. This is your core which will usually vote every time. They will be back.

Because most elections are usually fairly close, even a hardcore group of 5 or 10 percent of voters can swing an election.

Obama won both of his presidential elections with just 51% if the vote. LINK

Any slight hiccup and he would have lost. Tuesday the hiccup turned into a storm and he lost big.

[japsportscarmad]

They haven't even been sworn in yet, JT.

...

Makes no difference. The congress AND senate is now controlled by right wing loonies. These people actually think Ted Cruz is a reasonable man. What they are going to be like is totally predictable.

Right wing loonies as compared to that famous left wing loony, Harry Reid (D-NV)?

The Democratic caucus thinks Reid is a reasonable man.

The opinion of the electorate on Tuesday would indicate they don't agree with your assessment of what a loon is.

Perhaps only 30-35% voted so hardly an overwhelming show of suport.

It's the people who really care most about what's happening who will be sure to vote. This is your core which will usually vote every time. They will be back.

Because most elections are usually fairly close, even a hardcore group of 5 or 10 percent of voters can swing an election.

Obama won both of his presidential elections with just 51% if the vote. LINK

Any slight hiccup and he would have lost. Tuesday the hiccup turned into a storm and he lost big.

Ok fair comment I apologise if my comment caused offence as not meant to :-)

[NeverSure]

Ok fair comment I apologise if my comment caused offence as not meant to :-)

No offense taken. We're just having a discussion.

Cheers.

[soundman]

I have removed a spelling argument. Please try and post on topic.

[LawrenceChee]

It's the very best of the USA politics ...the endless ping pong game that never ends ...Chinese quite enjoy watching at the sidelines

[wwest5829]

I found the same to be true with the Reagan tax cuts and huge increases in national debt. Somehow he was promoted as a great mathematician.

The American people have deemed Reagan the best president since WW II and Obama the worst. Reagan must have been doing something right.

http://www.politico.com/story/2014/07/poll-obama-worst-president-since-wwii-108507.html

While Reagan did cut taxes and "increase" the debt, it was well within the annual growth in the economy -- and the situation was a combination of the congress which refused to cut anything, and Reagan wanting to cut taxes and stimulate the economy (which it needed after Carter). That is NOTHING like what Bush jr. and now Obama have done with the debt, which even with cooked accounting books is closing in on 20 trillion dollars -- which is completely out of whack with the economy. Lets say that the average historical interest rate returned (about 5%) - a rough calculation would mean that 5% of 20 trillion dollars is 1 trillion in interest at those rates..... that blows a hole in the government finances. On top of that the US government mixes things like social security taxes in, while leaving out the obligations that are part of it... which if a CEO did that they would be locked up. The real annual deficit is actually much much higher.... but it is hidden from the taxpayers for now. The government tax revenue is at record levels - and yet because the government is unable to control spending.... is still racking up debt at greater than the economy is growing (debt to GDP). Canada which has an economy tightly tied to the US -- is expected to record a budget surplus this year after working to reduce the annual deficit since the economy tanked. The US on the other hand has not had a new budget because Harry Reid refused to bring it to a vote because he did not want a record that could be used against the Democratic congressmen/women. Bush jr and Obama make Reagan, Bush Sr., and Clinton look like economic geniuses in comparison.

Yes, what you cite last is true. Much of the economy is affected by forces outside the President's control. We should not forget in the U.S. any tax legislation begins in the House of Representatives. Another big amount, some of which is not counted in financial figures is military spending. I expect defense stocks to rise again under Republicans. As a student of history, I have to disagree with Ulysses putting forth the Reagan vs. Obama popularity. Neither will come in as greatest nor poorest in the historical judgement. As to Canada, well, it's why I refer to you all as " the kinder Americans" (now if you would just let me bring in my handgun)! Ha!). Biggest problem going forward - the wealth gap, it is tearing my country apart.

[bkkcanuck8]

I found the same to be true with the Reagan tax cuts and huge increases in national debt. Somehow he was promoted as a great mathematician.

The American people have deemed Reagan the best president since WW II and Obama the worst. Reagan must have been doing something right.

http://www.politico.com/story/2014/07/poll-obama-worst-president-since-wwii-108507.html

While Reagan did cut taxes and "increase" the debt, it was well within the annual growth in the economy -- and the situation was a combination of the congress which refused to cut anything, and Reagan wanting to cut taxes and stimulate the economy (which it needed after Carter). That is NOTHING like what Bush jr. and now Obama have done with the debt, which even with cooked accounting books is closing in on 20 trillion dollars -- which is completely out of whack with the economy. Lets say that the average historical interest rate returned (about 5%) - a rough calculation would mean that 5% of 20 trillion dollars is 1 trillion in interest at those rates..... that blows a hole in the government finances. On top of that the US government mixes things like social security taxes in, while leaving out the obligations that are part of it... which if a CEO did that they would be locked up. The real annual deficit is actually much much higher.... but it is hidden from the taxpayers for now. The government tax revenue is at record levels - and yet because the government is unable to control spending.... is still racking up debt at greater than the economy is growing (debt to GDP). Canada which has an economy tightly tied to the US -- is expected to record a budget surplus this year after working to reduce the annual deficit since the economy tanked. The US on the other hand has not had a new budget because Harry Reid refused to bring it to a vote because he did not want a record that could be used against the Democratic congressmen/women. Bush jr and Obama make Reagan, Bush Sr., and Clinton look like economic geniuses in comparison.

Yes, what you cite last is true. Much of the economy is affected by forces outside the President's control. We should not forget in the U.S. any tax legislation begins in the House of Representatives. Another big amount, some of which is not counted in financial figures is military spending. I expect defense stocks to rise again under Republicans. As a student of history, I have to disagree with Ulysses putting forth the Reagan vs. Obama popularity. Neither will come in as greatest nor poorest in the historical judgement. As to Canada, well, it's why I refer to you all as " the kinder Americans" (now if you would just let me bring in my handgun)! Ha!). Biggest problem going forward - the wealth gap, it is tearing my country apart.

Wealth gap is not the problem -- I could not care a less about what a Steve Jobs or Bill Gates makes.... Not important.

The problem has to do with the deteriorating health of the middle class. Having a large enough middle class is important to ensuring the stability of the country since it makes sure enough people have a vested interest.

[Scott]

Off-topic and troll posts and replies removed. Please stay on topic.

[kingalfred]

Gerrymandered districts by Repg and ran a campaign on negativity because thats whats successful getting out their vote. nothing to offer. McConnell and Boehner will now resort to blaming the President when he doesn't sign off on their crap.

[mania]

Biggest problem going forward - the wealth gap, it is tearing my country apart.

This problem seems to not be country specific

These days so many countries are affected by this same problem.

Wealth has been transferred at alarming rates due to various break downs/forms of corruption/loopholes in

markets/financial systems..........But that is for another topic

[chuckd]

Gerrymandered districts by Repg and ran a campaign on negativity because thats whats successful getting out their vote. nothing to offer. McConnell and Boehner will now resort to blaming the President when he doesn't sign off on their crap.

It took nearly six years, but I finally agree with something Obama has said.

"I am not on the ballot this fall. Michelle’s pretty happy about that. But make no mistake: these policies are on the ballot. Every single one of them." Barack Obama

http://www.washingtonpost.com/blogs/the-fix/wp/2014/10/02/28-words-that-democrats-really-wish-president-obama-didnt-say-today/

This is the crux of the election. It was about his policies and his performance that ran the election.

His supporters didn't show up because there is precious little to support and his foes highlighted the negative impact of his Presidency

Make no mistake about it, this election was about Obama. He has now presided over the longest recovery from a recession in the history of the US and has returned the Democratic party to Congressional levels last attained in 1929.

His legacy will suffer as a result.

Edit in: Somehow the post got made before it was finished. Now it is done.

Edited November 7, 2014 by chuckd

[wwest5829]

I found the same to be true with the Reagan tax cuts and huge increases in national debt. Somehow he was promoted as a great mathematician.

The American people have deemed Reagan the best president since WW II and Obama the worst. Reagan must have been doing something right.

http://www.politico.com/story/2014/07/poll-obama-worst-president-since-wwii-108507.html

While Reagan did cut taxes and "increase" the debt, it was well within the annual growth in the economy -- and the situation was a combination of the congress which refused to cut anything, and Reagan wanting to cut taxes and stimulate the economy (which it needed after Carter). That is NOTHING like what Bush jr. and now Obama have done with the debt, which even with cooked accounting books is closing in on 20 trillion dollars -- which is completely out of whack with the economy. Lets say that the average historical interest rate returned (about 5%) - a rough calculation would mean that 5% of 20 trillion dollars is 1 trillion in interest at those rates..... that blows a hole in the government finances. On top of that the US government mixes things like social security taxes in, while leaving out the obligations that are part of it... which if a CEO did that they would be locked up. The real annual deficit is actually much much higher.... but it is hidden from the taxpayers for now. The government tax revenue is at record levels - and yet because the government is unable to control spending.... is still racking up debt at greater than the economy is growing (debt to GDP). Canada which has an economy tightly tied to the US -- is expected to record a budget surplus this year after working to reduce the annual deficit since the economy tanked. The US on the other hand has not had a new budget because Harry Reid refused to bring it to a vote because he did not want a record that could be used against the Democratic congressmen/women. Bush jr and Obama make Reagan, Bush Sr., and Clinton look like economic geniuses in comparison.

Yes, what you cite last is true. Much of the economy is affected by forces outside the President's control. We should not forget in the U.S. any tax legislation begins in the House of Representatives. Another big amount, some of which is not counted in financial figures is military spending. I expect defense stocks to rise again under Republicans. As a student of history, I have to disagree with Ulysses putting forth the Reagan vs. Obama popularity. Neither will come in as greatest nor poorest in the historical judgement. As to Canada, well, it's why I refer to you all as " the kinder Americans" (now if you would just let me bring in my handgun)! Ha!). Biggest problem going forward - the wealth gap, it is tearing my country apart.

Wealth gap is not the problem -- I could not care a less about what a Steve Jobs or Bill Gates makes.... Not important.

The problem has to do with the deteriorating health of the middle class. Having a large enough middle class is important to ensuring the stability of the country since it makes sure enough people have a vested interest.

We are pointing to the same problem using different words. It appears we agree on the reduction of the middle. This is what I mean by the wealth gap. I congratulate the 1% but the extremes have been taken out of the middle. It is why, IMHO, as a people we are loosing faith in the fairness, the work will get you ahead promise and why we see fewer people bothering to vote. I believe many have given up believing. They figure the system is rigged against them and, I believe, they have a point.

[wwest5829]

Biggest problem going forward - the wealth gap, it is tearing my country apart.

This problem seems to not be country specific

These days so many countries are affected by this same problem.

Wealth has been transferred at alarming rates due to various break downs/forms of corruption/loopholes in

markets/financial systems..........But that is for another topic

Agree.

[zydeco]

It's the very best of the USA politics ...the endless ping pong game that never ends ...Chinese quite enjoy watching at the sidelines

Yes, conflict, challenge, and debate leads to innovation and progress. Enjoy your harmony.

[LawrenceChee]

It's the very best of the USA politics ...the endless ping pong game that never ends ...Chinese quite enjoy watching at the sidelines

Yes, conflict, challenge, and debate leads to innovation and progress. Enjoy your harmony.

Very true if it's done in the right spirit ...I quite admire the Scandinavian modern as I can see what you described there happening

[metisdead]

An off topic post has been removed. This ain't about Tiananmen Square in 1989 or the recent protests in Hong Kong.

[marcusd]

Absolutely nothing will change regardless.

you have whacky politics there where a true majority is not heard because you have a stupid right... Not to vote but to forever complain.

How can you tell us that USA is democratic when a handful vote and many sit at home?

[samran]

Obama has been great for the one percenters that he rails against. Not so much for everyone else.

What ever happened to the faith of the GOP in trickle down economics?

[marcusd]

To the American haters out there, we have just proven how stupid we really are and given you all the fuel you need for further insults.

We don't HATE you we just cringe when we hear you are leaders of the western world and you elect such trash

[JDGRUEN]

Gerrymandered districts by Repg and ran a campaign on negativity because thats whats successful getting out their vote. nothing to offer. McConnell and Boehner will now resort to blaming the President when he doesn't sign off on their crap.

In recent years, 6-8-10 years all over America, the Democrats and the Courts together have had far more to do with defining Congressional districts than Republicans have had... check the records...

[JDGRUEN]

To the American haters out there, we have just proven how stupid we really are and given you all the fuel you need for further insults.

We don't HATE you we just cringe when we hear you are leaders of the western world and you elect such trash

You are speaking of the likes of obama I presume...

[marcusd]

No change. It will just slow the government from spending money and passing too many laws. Not a bad thing. The American people need little help from the government though 47% like the handouts.

Well, maybe Cruz and/or Paul will cut the dole. They have said cuts are needed to Social Security.

cut social security and have even more murders on your street. Really good move. Look at yourselves. Pitiful

[marcusd]

And people laugh at the politicial incompetence of the Thai system of governance. I guess the US did bring us Mickey Mouse...

The US has never had a coup d'etat. The US also brought you transistors. Where would you be without electronics? ....and GPS and Hubble's photos from space - both for free. You're welcome.

No change. It will just slow the government from spending money and passing too many laws. Not a bad thing. The American people need little help from the government though 47% like the handouts.

Perhaps you forgot, a few years ago, if Romney had gained the presidency, he proposed he would increase military spending considerably - even if the military didn't want additional funds.

And MacDonald, KFC, burger king, wars and all that trouble in the middle east with their need to feed the war machines

[JDGRUEN]

Non Americans and those liberal/leftist Americans will not see - nor cannot see the significance of the barely three day old mid term American election because you have no idea what real a American voter drive backlash is about ... you just want to bring back the craziness that was just voted down ...

[marcusd]

The American public has just handed back the keys to the hen house to the foxes.

an absolute Disgrace...

The real disgrace is Obama's agenda and the Democrats that supported it.

So Obama is stalin or Hitler???..

Both your parties are so similar. Just stop making wars. Get together and rebuild, to,the great power you were rather than one who I now getting kicked by CHINA AND RUSSIA. There ate really big world issues and for decades the USA has sat idle, just meddling I the fringes.

Stop you petty bickerings over health and social security.

Care for YOUR OWN before meddling elsewhere

[marcusd]

I am on a roll tonight. Pinot grigio boys!

[samran]

No change. It will just slow the government from spending money and passing too many laws. Not a bad thing. The American people need little help from the government though 47% like the handouts.

Well, maybe Cruz and/or Paul will cut the dole. They have said cuts are needed to Social Security.

cut social security and have even more murders on your street. Really good move. Look at yourselves. Pitiful

The avowed anti socialists might as well start by cutting the two socialist policies on the governments books - social security and medicare. Privatise the both of them and let's see how quickly the market rushes to provide them with a guaranteed return and a low premium for their health insurance.

[metisdead]

Another off topic post has been removed as well as the well pointed out replies.

[thailiketoo]

So Obama is stalin or Hitler???..

Both your parties are so similar. Just stop making wars. Get together and rebuild, to,the great power you were rather than one who I now getting kicked by CHINA AND RUSSIA. There ate really big world issues and for decades the USA has sat idle, just meddling I the fringes.

Stop you petty bickerings over health and social security.

Care for YOUR OWN before meddling elsewhere

I agree. If most Americans read Thai Visa they would have not entered WWI or II. As I pointed out before Dems have started most wars and Americans really don't want to have anything to do with them.

Democrats: 16 Republicans: 10

http://911billofrights.blogspot.com/2013/04/democrat-or-republican-presidents-who.html

Edited November 7, 2014 by thailiketoo