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Economy
See other Economy Articles

Title: GOP plan to extend tax cuts for rich adds $36 billion to deficit, panel finds
Source: The Washington Post
URL Source: http://www.washingtonpost.com/wp-dy ... 010/08/11/AR2010081105864.html
Published: Aug 12, 2010
Author: Lori Montgomery
Post Date: 2010-08-14 09:53:34 by lucysmom
Keywords: Tax, Deficit, Economy
Views: 61901
Comments: 89

A Republican plan to extend tax cuts for the rich would add more than $36 billion to the federal deficit next year -- and transfer the bulk of that cash into the pockets of the nation's millionaires, according to a congressional analysis released Wednesday.

New data from the nonpartisan Joint Committee on Taxation show that households earning more than $1 million a year would reap nearly $31 billion in tax breaks under the GOP plan in 2011, for an average tax cut per household of about $100,000.

...

Republicans accuse Democrats of plotting one of the biggest tax hikes in American history, arguing that raising taxes on wealthy households would punish the very people capable of creating jobs, spurring economic growth and reducing the 9.5 percent unemployment rate. About half of all small-business income is reported on the individual returns of people making over $250,000 a year, according to the taxation committee's data, though those taxpayers represent only about 3 percent of small businesses.

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#49. To: sneakypete (#48)

Look Pete. Why can't you respect people and the fact that marriage has always been between a man and a woman? You are championing a fundamental change in our society and culture. Most of the country correctly disagrees with you. Why can't you and your homosexual friends be happy not screwing with our institutions? Are you not happy with anything virtuous left in this country? Does everything in our culture have to be destroyed to make you godless fools happy?

A K A Stone  posted on  2010-08-16   8:01:51 ET  Reply   Trace   Private Reply  


#50. To: lucysmom (#7)

Nobody has ever received a job from a poor man, goofy. On the other hand, many poor men have made their own jobs.

Yep, which is why I don't support subsidizing 'poor people'.

Thanks for pointing this out, goofy.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-16   9:42:36 ET  Reply   Trace   Private Reply  


#51. To: Rhino (#12)

Nobody has ever received a job from a poor man, goofy. Wars don't pay for themselves. We had a deficit before the war, you wanted a war, you go the war. Pay for it

Actually, some wars do in fact 'pay for themselves' so you are incorrect.

Yep, we had a deficit before the war. We've been running deficits for about 50 years now. Whats your point?

Next up, I didn't 'want a war'. Unfortunately, we had no choice in either Afghanistan or Iraq. Both governments at the time the wars began had many opportunities to avoid 'war', they choose this path on their own. As the old saying goes 'We regret the actions others force us to take'. It applies here.

Finally, only a brain dead liberal can suggest 'the wars' created the staggering deficits we now face. You should enter a basic math or general accounting class to avoid saying something like this in a public forum, and inadvertently humiliating yourself.

Have a nice day.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-16   9:46:01 ET  Reply   Trace   Private Reply  


#52. To: A K A Stone (#49)

Look Pete. Why can't you respect people and the fact that marriage has always been between a man and a woman?

Flight had always been restricted to birds before the airplane was invented. Does that mean nobody should fly now?

You are championing a fundamental change in our society and culture.

No,I am NOT. I am championing individual freedom. NOWHERE have I even hinted at demanding that you or anyone else suddenly approve of homosexual marriages.

See,the thing about this country is that our freedoms are not dependent on the wishes of others. It's not up for a vote.

Most of the country correctly disagrees with you.

Then most of the country is wrong. I think you are wrong about this,though. I doubt most of the country really gives a damn one way or the other.

Why can't you and your homosexual friends be happy not screwing with our institutions?

As far as I know,I don't have any homosexual friends. I have been friendly with homosexuals in the past,but don't have much in common with them and don't really like being around them very much. None of which means I think they are deserving of less freedoms than I have.

Are you not happy with anything virtuous left in this country? Does everything in our culture have to be destroyed to make you godless fools happy?

Give me a bleeping break! Organized religion makes the mafia look like the Boy Scouts by comparison.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2010-08-16   10:10:40 ET  Reply   Trace   Private Reply  


#53. To: no gnu taxes (#40)

Until the housing market started to fall apart in 2007, deficits were falling.

Do you mean budget deficits that did not include the cost of two wars?

lucysmom  posted on  2010-08-16   10:38:09 ET  Reply   Trace   Private Reply  


#54. To: A K A Stone (#47)

I am pro freedom, pro constitution. I'm smart. You're dumb.

Everyone is for their own freedom.

To be pro Constitution means that you recognize that freedom even extends to those you don't approve of.

lucysmom  posted on  2010-08-16   10:47:28 ET  Reply   Trace   Private Reply  


#55. To: Badeye (#50)

Yep, which is why I don't support subsidizing 'poor people'.

Only the well off are worthy of your subsidy.

lucysmom  posted on  2010-08-16   10:56:51 ET  Reply   Trace   Private Reply  


#56. To: lucysmom (#55)

Yep, which is why I don't support subsidizing 'poor people'. Only the well off are worthy of your subsidy.

Surprised you feel this way.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-16   14:24:47 ET  Reply   Trace   Private Reply  


#57. To: lucysmom (#38)

Families making 20 times the average family income are.

The top tax bracket applies to families who make 5 times the average family income.

Obama and the Democrats want to raise this tax bracket from 35% to 40%.

jwpegler  posted on  2010-08-16   18:05:58 ET  Reply   Trace   Private Reply  


#58. To: sneakypete, A K A Stone (#41)

mistake is pegging neo-cons/RINO's as right-wingers. They are not. They are leftists working for maximum government control and minimal individual rights for subjects

100% correct!

Neo-conservativism was founded by Bill Krisol's father (Irving). Irving Kristol was Trotskyite.

I have no regret about that episode in my life. Joining a radical movement when one is young is very much like falling in love when one is young... But my feelings toward those radical days are even more positive than this kind of general reflection suggests. For the truth is that being a young radical was not simply part of my college experience; it was practically the whole of it.

His son is one of the key leaders of the neo-cons. Bill Kristol spent most of the early Bush Administration arguing for big government, which he called "government greatness conservatism". Bush tried to softness this term, calling it "compassionate conservatism".

Yes, some of the "ends" of the neo-cons have changed, but their "means" remain the same as the left -- lie, cheat, steal, murder, whatever it takes.

I was always taught that the ends do not justify the means. Like the hard left, the neo-cons don't agree.

Ex-communists run the "conservative movement" today. This is not hyperbole, it's a fact.

jwpegler  posted on  2010-08-16   18:25:31 ET  Reply   Trace   Private Reply  


#59. To: jwpegler (#57)

The top tax bracket applies to families who make 5 times the average family income.

http://www.washingtonpost.com/wp-dyn/content/graphic/2010/08/11/GR2010081106717.html?sid=ST2010081200375

Doesn't look that way to me.

lucysmom  posted on  2010-08-16   18:48:38 ET  Reply   Trace   Private Reply  


#60. To: Badeye (#51)

some wars do in fact 'pay for themselves'

Well yeah, the ones where the victor rapes and pillages the defeated population.

When did the U.S. ever do this? Never.

Our wars never pay for themselves.

Sometimes wars are necessary. The Cold War comes to mind.

The Iraq cost us at least $800 billion and 4,400 American kid's lives (to date) and was completely unnecessary.

We will be paying for this for a long, long time.

jwpegler  posted on  2010-08-16   18:50:09 ET  Reply   Trace   Private Reply  


#61. To: lucysmom (#59) (Edited)

Doesn't look that way to me.

The average family makes about $50K a year.

The top tax bracket applies to families who make $250K a year.

$250K / $50K = 5. Not 6,600 (Spielberg), 1,000 (Oprah and Lloyd Blankfien of Goldman Sachs). It equals a lousy 5. It's 2nd grade math.

The Democrats have made no secret that they want to raise the tax rates of families making $250K a year from 35% to 40%. EVERYONE KNOWS THIS.

Your chart shows ONE POTENTIAL IMPACT based on some set of assumptions (size of mortgage, medical bills, earned versus "unearned" income, etc.) which may or may not be true in general and are certainly not true for the vast majority of people in that income bracket.

I'm not making ANY assumptions AT ALL. Obama and the Democrats want to raise taxes on people making a lousy 5 times the average family income. How do I know this? Because they have repeatedly said so.

There's an old adage that is instructive for you here. Statics can be made to lie. You are relying on someone's flawed and biased statistical analysis. I am simply citing Obama and the Democrats, who are hell bent on raising taxes for families who make a lousy 5 times the average family income because they claim that these people are "rich". No they are not "rich". Many people who were in this income bracket a couple of years ago are struggling today.

jwpegler  posted on  2010-08-16   19:03:50 ET  Reply   Trace   Private Reply  


#62. To: sneakypete, A K A Stone (#61)

Post #59 -- thought you'd be interested

jwpegler  posted on  2010-08-16   19:19:53 ET  Reply   Trace   Private Reply  


#63. To: jwpegler (#58)

Ex-communists run the "conservative movement" today. This is not hyperbole, it's a fact.

And people who consider themselves to be conservatives are STILL voting for them in the vain hope that if they keep voting for fascists,the fascists will quit promoting fascist candidates.

The classic definition of insanity is to keep doing the things you have been doing repeatedly,and expect a different outcome. The FACT is the more you vote for and support RINO's,the more RINO's you will get to vote for.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2010-08-16   20:02:30 ET  Reply   Trace   Private Reply  


#64. To: sneakypete (#63)

If all you ever voted for every year was Bush you would be correct. But bush doesn't equal Palin doesn't equal McCain doesn't equal Gingrich doesn't equal Huckabee, doesn't equal Rand Paul. They are all individuals.

A K A Stone  posted on  2010-08-16   20:05:44 ET  Reply   Trace   Private Reply  


#65. To: jwpegler (#62)

Thanks.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2010-08-16   20:06:35 ET  Reply   Trace   Private Reply  


#66. To: A K A Stone (#64)

But bush doesn't equal Palin doesn't equal McCain doesn't equal Gingrich doesn't equal Huckabee, doesn't equal Rand Paul.

Other than Rand Paul,yes it does. Gingrich used to be the hope of conservatives everywhere,but the Dims working with their RINO pals slapped him back into his place. Most likely by using blackmail of some sort. The blackmail material may be so out of date by now that it no longer applies,but IMHO he still can't be trusted. He may be planning on taking the Perot Spot if a independent conservative movement starts to draw a lot of traction.

They are all individuals.

Yes,and other than Paul,they all have the same paymasters.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2010-08-16   20:10:45 ET  Reply   Trace   Private Reply  


#67. To: sneakypete (#66)

Rand Paul is against redefining marriage to include two faggots doing perverted stuff.

A K A Stone  posted on  2010-08-16   20:15:48 ET  Reply   Trace   Private Reply  


#68. To: sneakypete (#66)

Oh and you are wrong. They don't equal each other. They all have unique positions.

A K A Stone  posted on  2010-08-16   20:16:20 ET  Reply   Trace   Private Reply  


#69. To: A K A Stone (#67)

Rand Paul is against redefining marriage to include two faggots doing perverted stuff.

If you say so. Does he propose any laws to punish them for acting like priests?

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2010-08-16   21:42:13 ET  Reply   Trace   Private Reply  


#70. To: A K A Stone (#68)

They all have unique positions.

Surrre,they do. Just keep telling yourself that.

BTW,did you know that Bush was a conservative?

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2010-08-16   21:43:27 ET  Reply   Trace   Private Reply  


#71. To: sneakypete (#70)

They all have unique positions.

Surrre,they do. Just keep telling yourself that.

BTW,did you know that Bush was a conservative?

Bush gave us two conservative supreme court justices.

You're an idiot if you think that their positions are all identical. All I have to do is name one thing that they differ on and you are wrong. I could name dozens or probably hundreds if I took the time.

A K A Stone  posted on  2010-08-16   21:45:55 ET  Reply   Trace   Private Reply  


#72. To: jwpegler (#60)

The Iraq cost us at least $800 billion and 4,400 American kid's lives (to date) and was completely unnecessary.

I think it was in fact 'necessary' and the long term impact will be viewed as the turning point in the Middle East.

Just my opinion, obviously we won't know for a couple of decades.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-17   10:08:02 ET  Reply   Trace   Private Reply  


#73. To: Badeye (#72)

I think it was in fact 'necessary'

Why?

the long term impact will be viewed as the turning point in the Middle East

Yeah, that's what the neo-commies claim. But they also claim we need to invade Iran, Syria, and Lebanon to get that "turning point" situated. No thanks. War mongering and nation building were anathema to the founders because they knew a.) you can't force "democracy" on others and b.) we'd go bankrupt if we tried.

obviously we won't know for a couple of decades.

More people where killed in Iraq in July than any month since the war started. There was a major bombing about a week ago that killed 60 people, and another one yesterday. The two major Shiite political parties (which are allied with Iran) are stalemated and the Sunnis are completely locked out (which is why they are throwing bombs).

Iraq could degenerate into civil war very easily. When it does, the entire middle could be destabilized, starting with the Iraqi Kurds agitating and terrorizing to bring about a Kurdish state (which would threaten Turkey's stability, given that huge Kurdish populations inhabit regions far into the heart of Turkey).

The winner in all of this will be Iran, who are allied with the Shiites in Iraq.

jwpegler  posted on  2010-08-17   19:12:48 ET  Reply   Trace   Private Reply  


#74. To: jwpegler (#73)

I think it was in fact 'necessary'

Why?

Because the only way to end the bullshit in the Middle East is to get average people involved in selecting their leadership.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-18   14:02:31 ET  Reply   Trace   Private Reply  


#75. To: Badeye (#74) (Edited)

Because the only way to end the bullshit in the Middle East is to get average people involved in selecting their leadership.

So we're going to force democracy down their throats whether they like it or not.

Great, there are over 100 countries in the world aren't democracies. Are you prepared to bankrupt America and kill countless American kids to take care of them all?

Oh, just in the middle east? Great. We already know that you neo-commies want to pummel Iran (which does allow "average people to get involved in selecting it's leaders"). On the other hand, our buddies in Saudi Arabia run the most brutal regime in the world. Should we invade them too? How about our dictator buddy in Egypt? Or the rest of the Gulf Sheikdoms, none of which let "average people get involved in selecting their leadership".

Two important questions:

A.) Why is this any of our business?

B.) How much money and blood are you willing to waste on this?

jwpegler  posted on  2010-08-18   15:09:14 ET  Reply   Trace   Private Reply  


#76. To: jwpegler (#75)

Because the only way to end the bullshit in the Middle East is to get average people involved in selecting their leadership. So we're going to force democracy down their throats whether they like it or not.

Great, there are over 100 countries in the world aren't democracies.

'So we're going to force democracy down their throats whether they like it or not.'

Its that or continue killing them on a regular basis, and suffering attacks like we did on 9/11 in my view.

'Great, there are over 100 countries in the world aren't democracies.'

Yep. And out of this strawman you bring up, how many are supporting international terrorism against us?

1st Rule of Holes applies here.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-19   11:38:07 ET  Reply   Trace   Private Reply  


#77. To: Badeye (#76)

Yep. And out of this strawman you bring up, how many are supporting international terrorism against us?

About six, unless you believe the Israelis then all. Evidently you're just another blood dancer. But I doubt you will sacrifice any personal blood to the effort, just other people's and those burnt sacrifices while you mock their stupidity behind their backs..

"See in my line of work, you got to keep repeating things over and over and over again for the truth to sink in, to kind of catapult the propaganda." --- George W. Bush (Rochester NY, 5-24-2005)

mininggold  posted on  2010-08-19   11:43:51 ET  Reply   Trace   Private Reply  


#78. To: mininggold (#77)

Yep. And out of this strawman you bring up, how many are supporting international terrorism against us?

About six...

Yep, which debunks his entire post. Appreciate it.

btw, I'm a vet. I did my part when I was young.

Tell the forum, what have YOU done to help the nation in your life?

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-19   11:51:30 ET  Reply   Trace   Private Reply  


#79. To: Badeye (#78)

btw, I'm a vet. I did my part when I was young.

During peacetime. Until a few years ago that wouldn't have qualified you for a stay at a Vet's home. Please don't equate your 'seeing the world cruise' with wartime duty.

"See in my line of work, you got to keep repeating things over and over and over again for the truth to sink in, to kind of catapult the propaganda." --- George W. Bush (Rochester NY, 5-24-2005)

mininggold  posted on  2010-08-19   11:55:50 ET  Reply   Trace   Private Reply  


#80. To: Badeye (#76)

how many are supporting international terrorism against us?

All of the ones where the U.S. government continued to prop up dictators after the Cold War ended, including and especially Egypt and Saudi Arabia.

What terrorist act did Sadam Hussein perpetrate on the U.S.??? None.

On the other hand bin Laden is related to the Saudi Royal family and 15 of the 9/11 terrorists were from Egypt.

We spend more money on the military than the next 15 countries combined. It can't be sustained any longer.

jwpegler  posted on  2010-08-19   16:12:24 ET  Reply   Trace   Private Reply  


#81. To: mininggold (#79)

btw, I'm a vet. I did my part when I was young. During peacetime. Until a few years ago that wouldn't have qualified you for a stay at a Vet's home. Please don't equate your 'seeing the world cruise' with wartime duty.

Fuck off, bitch. Sheesh. Yeah, the Cold War was just a day at the fuckin beach.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-20   9:56:02 ET  Reply   Trace   Private Reply  


#82. To: jwpegler (#80)

You need to pick a argument and stick with it.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-20   9:57:44 ET  Reply   Trace   Private Reply  


#83. To: Badeye (#82)

You need to pick a argument and stick with it.

I am. You neo-commies on the other hand cannot make any legitimate case on how Saddam Hussein was a threat to the U.S.

jwpegler  posted on  2010-08-20   13:39:35 ET  Reply   Trace   Private Reply  


#84. To: jwpegler (#83)

You neo-commies on the other hand cannot make any legitimate case on how Saddam Hussein was a threat to the U.S.

Don't feel the need. He attacked our planes 750 times AFTER the Gulf War.

The first one was reason enough.

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-20   15:36:28 ET  Reply   Trace   Private Reply  


#85. To: Badeye (#84) (Edited)

He attacked our planes 750 times AFTER the Gulf War.

So... after the U.S. government invaded his country, he tried to defend himself and it's somehow his fault.

Right...

jwpegler  posted on  2010-08-20   15:46:28 ET  Reply   Trace   Private Reply  


#86. To: jwpegler (#85)

So... after the U.S. government invaded his country, he tried to defend himself and it's somehow his fault.

Right...

Intentional misstating the facts related to my post, or are you just ignorant of the cease fire agreement signed concluding the ground war?

Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.

Badeye  posted on  2010-08-20   16:56:53 ET  Reply   Trace   Private Reply  


#87. To: jwpegler (#85)

You'd be Ok with attacking Russia for invading airspace.

NeoCon.

-----------------------------------------------------------
Toss: ADL,CAIR and the Vatican into the pit they belong in.

WhiteSands  posted on  2010-08-20   18:12:22 ET  Reply   Trace   Private Reply  


#88. To: WhiteSands (#87) (Edited)

You'd be Ok with attacking Russia for invading airspace.

NeoCon.

The U.S. government continued to invade Iraq's airspace after the undeclared Gulf War. Iraq tried to defend itself.

Yes, if the Russians invaded U.S. airspace, I would hope that we'd defend our country too. That's call military defense, which is quite different than running around invading other countries that didn't attack us and didn't pose a threat to us.

jwpegler  posted on  2010-08-21   13:04:33 ET  Reply   Trace   Private Reply  


#89. To: jwpegler (#88)

Yes, if the Russians invaded U.S. airspace, I would hope that we'd defend our country too.

Palin said they did.

"As Putin rears his head and comes into the air space of the United States of America, where– where do they go? It's Alaska. It's just right over the border." --Sarah Palin

"How many confirmed NV Mig kills do YOU have general? I only have three." - Mad Dog, the syphilitic psychopath

Skip Intro  posted on  2010-08-21   14:47:16 ET  Reply   Trace   Private Reply  


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