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United States News
See other United States News Articles

Title: House GOP Lists $2.5 Trillion in Spending Cuts
Source: [None]
URL Source: http://www.usnews.com/news/washingt ... s-25-trillion-in-spending-cuts
Published: Jan 20, 2011
Author: Paul Bedard
Post Date: 2011-01-20 14:51:59 by Capitalist Eric
Keywords: None
Views: 44230
Comments: 72

Moving aggressively to make good on election promises to slash the federal budget, the House GOP today unveiled an eye-popping plan to eliminate $2.5 trillion in spending over the next 10 years. Gone would be Amtrak subsidies, fat checks to the Legal Services Corporation and National Endowment for the Arts, and some $900 million to run President Obama's healthcare reform program. [See a gallery of political caricatures.]

What's more, the "Spending Reduction Act of 2011" proposed by members of the conservative Republican Study Committee, chaired by Ohio Rep. Jim Jordan, would reduce current spending for non-defense, non-homeland security and non-veterans programs to 2008 levels, eliminate federal control of Fannie Mae and Freddie Mac, cut the federal workforce by 15 percent through attrition, and cut some $80 billion by blocking implementation of Obamacare.

Some of the proposed reductions will surely draw Democratic attack, such as cutting the Ready to Learn TV Program, repeal of the Davis-Bacon Act, the elimination of the Energy Star Program, and cutting subsidies to the Woodrow Wilson Center. [See editorial cartoons about the GOP.]

Here is the overview provided by the Republican Study Committee:

FY 2011 CR Amendment: Replace the spending levels in the FY 2011 continuing resolution (CR) with non-defense, non-homeland security, non-veterans spending at FY 2008 levels. The legislation will further prohibit any FY 2011 funding from being used to carry out any provision of the Democrat government takeover of health care, or to defend the health care law against any lawsuit challenging any provision of the act. $80 billion savings.

Discretionary Spending Limit, FY 2012-2021: Eliminate automatic increases for inflation from CBO baseline projections for future discretionary appropriations. Further, impose discretionary spending limits through 2021 at 2006 levels on the non-defense portion of the discretionary budget. $2.29 trillion savings over ten years.

Federal Workforce Reforms: Eliminate automatic pay increases for civilian federal workers for five years. Additionally, cut the civilian workforce by a total of 15 percent through attrition. Allow the hiring of only one new worker for every two workers who leave federal employment until the reduction target has been met. (Savings included in above discretionary savings figure).

"Stimulus" Repeal: Eliminate all remaining "stimulus" funding. $45 billion total savings.

Eliminate federal control of Fannie Mae and Freddie Mac. $30 billion total savings.

Repeal the Medicaid FMAP increase in the "State Bailout" (Senate amendments to S. 1586). $16.1 billion total savings.

More than 100 specific program eliminations and spending reductions listed below: $330 billion savings over ten years (included in above discretionary savings figure).

Here is the full list of cuts:

Additional Program Eliminations/Spending Reforms

Corporation for Public Broadcasting Subsidy. $445 million annual savings.

Save America's Treasures Program. $25 million annual savings.

International Fund for Ireland. $17 million annual savings.

Legal Services Corporation. $420 million annual savings.

National Endowment for the Arts. $167.5 million annual savings.

National Endowment for the Humanities. $167.5 million annual savings.

Hope VI Program. $250 million annual savings.

Amtrak Subsidies. $1.565 billion annual savings.

Eliminate duplicative education programs. H.R. 2274 (in last Congress), authored by Rep. McKeon, eliminates 68 at a savings of $1.3 billion annually.

U.S. Trade Development Agency. $55 million annual savings.

Woodrow Wilson Center Subsidy. $20 million annual savings.

Cut in half funding for congressional printing and binding. $47 million annual savings.

John C. Stennis Center Subsidy. $430,000 annual savings.

Community Development Fund. $4.5 billion annual savings.

Heritage Area Grants and Statutory Aid. $24 million annual savings.

Cut Federal Travel Budget in Half. $7.5 billion annual savings.

Trim Federal Vehicle Budget by 20%. $600 million annual savings.

Essential Air Service. $150 million annual savings.

Technology Innovation Program. $70 million annual savings.

Manufacturing Extension Partnership (MEP) Program. $125 million annual savings.

Department of Energy Grants to States for Weatherization. $530 million annual savings.

Beach Replenishment. $95 million annual savings.

New Starts Transit. $2 billion annual savings.

Exchange Programs for Alaska, Natives Native Hawaiians, and Their Historical Trading Partners in Massachusetts. $9 million annual savings.

Intercity and High Speed Rail Grants. $2.5 billion annual savings.

Title X Family Planning. $318 million annual savings.

Appalachian Regional Commission. $76 million annual savings.

Economic Development Administration. $293 million annual savings.

Programs under the National and Community Services Act. $1.15 billion annual savings.

Applied Research at Department of Energy. $1.27 billion annual savings.

FreedomCAR and Fuel Partnership. $200 million annual savings.

Energy Star Program. $52 million annual savings.

Economic Assistance to Egypt. $250 million annually.

U.S. Agency for International Development. $1.39 billion annual savings.

General Assistance to District of Columbia. $210 million annual savings.

Subsidy for Washington Metropolitan Area Transit Authority. $150 million annual savings.

Presidential Campaign Fund. $775 million savings over ten years.

No funding for federal office space acquisition. $864 million annual savings.

End prohibitions on competitive sourcing of government services.

Repeal the Davis-Bacon Act. More than $1 billion annually.

IRS Direct Deposit: Require the IRS to deposit fees for some services it offers (such as processing payment plans for taxpayers) to the Treasury, instead of allowing it to remain as part of its budget. $1.8 billion savings over ten years.

Require collection of unpaid taxes by federal employees. $1 billion total savings.

Prohibit taxpayer funded union activities by federal employees. $1.2 billion savings over ten years.

Sell excess federal properties the government does not make use of. $15 billion total savings.

Eliminate death gratuity for Members of Congress.

Eliminate Mohair Subsidies. $1 million annual savings.

Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change. $12.5 million annual savings.

Eliminate Market Access Program. $200 million annual savings.

USDA Sugar Program. $14 million annual savings.

Subsidy to Organisation for Economic Co-operation and Development (OECD). $93 million annual savings.

Eliminate the National Organic Certification Cost-Share Program. $56.2 million annual savings.

Eliminate fund for Obamacare administrative costs. $900 million savings.

Ready to Learn TV Program. $27 million savings.

HUD Ph.D. Program.

Deficit Reduction Check-Off Act.

TOTAL SAVINGS: $2.5 Trillion over Ten Years

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#32. To: lucysmom, go65, capitalist eric (#30) (Edited)

I remember when the budget was in balance and there was a budget surplus. Republicans whined that government was collecting too much tax from the people - never mind the debt.

I've stated the facts before, and I will state them again.

#1.) In the post WWII period, federal tax revenues averaged 18% of GDP and federal spending averaged 20% of GDP. (This is why we've run up a debt.)

#2.) During the last year of the Clinton administration, federal tax revenues were about 19% of GDP and federal spending was about 19% of GDP. The budget was in balance.

#3.) Today, federal tax revenues are 17.6% of GDP and federal spending is a whopping 24% of GDP (heading to 28%).

Federal spending is 34% higher than usual and federal tax revenues are 2% lower than usual.

WE HAVE A SPENDING PROBLEM. PERIOD.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-22   12:36:28 ET  Reply   Trace   Private Reply  


#33. To: jwpegler (#31)

We should IPO the Post Office and let it compete fairly with FedEx and UPS. This would be the biggest IPO in history. It would raise a ton of money.

I have more than 20 years business experience dealing with UPS, FEDEX, and the post office, I now rely entirely on the post office. They are efficient and cost effective from the consumer perspective.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-22   12:47:37 ET  Reply   Trace   Private Reply  


#34. To: jwpegler (#32)

WE HAVE A SPENDING PROBLEM. PERIOD.

Not when Bush took office and knocked the budget out of balance.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-22   12:51:30 ET  Reply   Trace   Private Reply  


#35. To: lucysmom, go65, capitalist eric (#33)

They are efficient and cost effective

I'm laughing so hard I can't hardly breath.

The Post Office loses $20 billion a year.

The only reasons they still exists are: A.) the the government has laws which gives the post office a monopoly on delivery of first class mail and B.) taxpayers are forced to make up their loses.

They need to spun off and stand on their own two feet.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-22   12:54:14 ET  Reply   Trace   Private Reply  


#36. To: lucysmom (#34)

Not when Bush took office and knocked the budget out of balance.

Bush was an idiot. Obama is worse.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-22   12:54:50 ET  Reply   Trace   Private Reply  


#37. To: jwpegler (#36)

Bush was an idiot. Obama is worse.

Only in your propaganda driven imagination.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-22   19:10:27 ET  Reply   Trace   Private Reply  


#38. To: lucysmom (#37) (Edited)

Only in your propaganda driven imagination.

I am a total numbers guy. I look at the numbers and draw my conclusions based on the evidence.

You on the other hand, are the dumbest person I've ever encountered in my life. I will bet that you have a ton of friends who are just like you. This is the problem.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-22   19:28:49 ET  Reply   Trace   Private Reply  


#39. To: jwpegler (#35)

The Post Office loses $20 billion a year.

The only reasons they still exists are: A.) the the government has laws which gives the post office a monopoly on delivery of first class mail and B.) taxpayers are forced to make up their loses.

Not exactly, or even remotely, true.

The United States Postal Service suffers from an onerous and unfair requirement that it pre-fund retiree health benefits at a time when it needs more flexibility to plan for a viable future, a new report by the Economic Policy Institute finds. The report also finds that restoration of the $75 billion in overpayments the Postal Service has made to the Civil Service Retirement System would enable the agency to fully fund its future retiree health obligations and to retire the debt it has accrued since 2006.

The Postal Accountability and Enhancement Act (PAEA), enacted in 2006, required the USPS to pay an average of $55.8 billion into the Postal Service Retiree Health Benefit Fund over a 10-year period. This requirement, a 75-year obligation, has produced the worst financial crisis in the agency’s history and is the primary cause of the Postal Service’s short-term deficit. Furthermore, the USPS is the only government agency required to pre-fund retiree health benefits, let alone at an accelerated rate.

www.epi.org/publications/...rimary_cause_of_usps_shor

The Constitution gave Congress the job of creating a postal service.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-22   19:35:44 ET  Reply   Trace   Private Reply  


#40. To: lucysmom (#39) (Edited)

Not exactly, or even remotely, true.

LOL. Simply copying text from Wikipedia or some other website without any independent thought or analysis is not impressive.

But of course, the entire notion of independent thought and analysis is completely alien to you.

I've always said it: there are two types of leftists -- idiots and tyrants. The idiots actually believe that bureaucrats can run their lives better than they can themselves. The tyrants take advantage of the idiot's belief to secure power and control for themselves.

You are leftist. And you are definitely not a tyrant.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-22   19:42:23 ET  Reply   Trace   Private Reply  


#41. To: jwpegler (#40)

LOL. Simply copying text from Wikipedia without any independent thought or analysis is not impressive.

Actually that statement makes you look careless at best (that means I'm being kind).

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-22   19:52:50 ET  Reply   Trace   Private Reply  


#42. To: lucysmom (#37)

Can you imagine the vitriol that would be all over the right wing wing nut blog spectrum of President Obama kissed a Saudi with the same enthusiasm as was the case with his predecessor?

Kissing Saudi men is OK if a conservative man does it.

Ferret Mike  posted on  2011-01-22   19:55:45 ET  (1 image) Reply   Trace   Private Reply  


#43. To: Ferret Mike (#42)

Kissing Saudi men is OK if a conservative man does it.

What sort of example did Bush set with his man-on-man kiss for the youth of America?

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-22   20:04:13 ET  Reply   Trace   Private Reply  


#44. To: jwpegler (#31)

Most of it should be eliminated.

So the answer to our ailing economy is to put hundreds of thousands of government workers out of work, further weakening the economy and the employment situation?

Are you serious?

Since January 3, 2011, Republicans have controlled the power of the purse.

go65  posted on  2011-01-22   21:05:43 ET  Reply   Trace   Private Reply  


#45. To: jwpegler (#29)

No I'm not. I merely stated that I wouldn't eliminate the Coastguard, FBI, and Border Patrol. There is certainly some reform that could take place in these agencies to save money.

that's discretionary spending, if you start taking some of the $440 billion off the table, you get to the point where do what the GOP does - offer $33 billion a year in cuts.

Since January 3, 2011, Republicans have controlled the power of the purse.

go65  posted on  2011-01-22   21:08:01 ET  Reply   Trace   Private Reply  


#46. To: jwpegler (#32)

WE HAVE A SPENDING PROBLEM. PERIOD.

Yep, how about we return the defense budget to pre-Bush levels as a start?

Since January 3, 2011, Republicans have controlled the power of the purse.

go65  posted on  2011-01-22   21:11:08 ET  Reply   Trace   Private Reply  


#47. To: go65, jwpegler (#44)

So the answer to our ailing economy is to put hundreds of thousands of government workers out of work, further weakening the economy and the employment situation?

Are you serious?

go56, our resident economics "thinker," doesn't get that by taking money from the people, THEN hiring a bunch of government worker-bees, that there's a not LOSS of economic efficiency, since the government worker-bees also have a heavy dependance on "administration," moreso than the private sector.

And, since government worker-bees are rarely fired, and do not get rewarded for excelling in their jobs, they have no reason to do their jobs efficiently, because there's no penalty for them dragging their feet...

In the free market, those that fail to provide a positive result to a firm (i.e., they're not doing their job, or not a value-add to the firm) are sent packing.

Only a nanny-state SOCIALIST would even ASK such a stupid question.

LOL.

ME: Thanks for admitting that you ARE trying to spin this (AZ shooting, and terrorism) onto Palin, and conservatives in general.
Brian S(ocialist): I have never hidden that fact...

"There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." -- go65, LF's resident mental giant --

Capitalist Eric  posted on  2011-01-22   21:11:16 ET  Reply   Trace   Private Reply  


#48. To: lucysmom, jwpegler (#39)

The Constitution gave Congress the job of creating a postal service.

What do the founders know???? We just learned this week that Thomas Jefferson and John Adams supported socialized medicine. They founders were obviously a bunch of commies.

And as far as the postal service, how about we allow them to stop delivering to unprofitable routes?

Since January 3, 2011, Republicans have controlled the power of the purse.

go65  posted on  2011-01-22   21:25:12 ET  Reply   Trace   Private Reply  


#49. To: go65 (#48)

Thomas Jefferson and John Adams supported socialized medicine.

Another lie.

Socialized medicine didn't EXIST in their day.

But they knew the results of government tyranny (socialism, communism and fascism all fit under that lable), which is why they set up the Constitution as they did.

They knew more then you'll EVER know.

And that's a FACT, Tovarich...

ME: Thanks for admitting that you ARE trying to spin this (AZ shooting, and terrorism) onto Palin, and conservatives in general.
Brian S(ocialist): I have never hidden that fact...

"There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." -- go65, LF's resident mental giant --

Capitalist Eric  posted on  2011-01-22   21:45:51 ET  Reply   Trace   Private Reply  


#50. To: Capitalist Eric (#49)

But they knew the results of government tyranny (socialism, communism and fascism all fit under that lable), which is why they set up the Constitution as they did.

They certainly knew what happens when business interests supersedes the welfare of citizens.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-23   8:36:03 ET  Reply   Trace   Private Reply  


#51. To: go65, capitalist eric (#44)

So the answer to our ailing economy is to put hundreds of thousands of government workers out of work

Absolutely.

The U.K., which about a 4th or 5th our size is laying off 500,000 bureaucrats. Tiny little Cuba is laying off 500,000 bureaucratic. What is the U.S. doing? Hiring more bureaucrats, and handing them six figure salaries and pensions.

We should be looking at making 1 million federal employees available to the market.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-23   10:35:42 ET  Reply   Trace   Private Reply  


#52. To: go65 (#48)

The Constitution gave Congress the job of creating a postal service.

There were no trucks, planes or email 200 years ago. It was still a mistake.

Lysander Spooner ran private postal service in Massachusetts in th 1840s which effectively competed with the government post office.

The Constitution does not give the government a monopoly on postal delivery. The government's monopoly on first class mail and the prohibitions on anyone but the post office putting things in mailboxes are laws and regulations which can easily be eliminated.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-23   10:40:51 ET  Reply   Trace   Private Reply  


#53. To: jwpegler (#51)

What is the U.S. doing? Hiring more bureaucrats, and handing them six figure salaries and pensions.

Can you back that claim with a link?

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-23   10:43:21 ET  Reply   Trace   Private Reply  


#54. To: go65 (#46)

Yep, how about we return the defense budget to pre-Bush levels as a start?

Pre-Bush levels are still too high. We still had troops stationed in Europe, Japan and Korea under Clinton. Why? The Cold War is over. There is no more international communist threat to the free world. Sure, there is a dangerous crank running North Korea, but South Korea is very prosperous and they can take care of themselves.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-23   12:36:11 ET  Reply   Trace   Private Reply  


#55. To: lucysmom (#53) (Edited)

Can you back that claim with a link?

The number of federal workers earning six-figure salaries has exploded during the recession, according to a USA TODAY analysis of federal salary data.

Federal employees making salaries of $100,000 or more jumped from 14% to 19% of civil servants during the recession's first 18 months — and that's before overtime pay and bonuses are counted.

Federal workers are enjoying an extraordinary boom time — in pay and hiring — during a recession that has cost 7.3 million jobs in the private sector.

When the recession started, the Transportation Department had only one person earning a salary of $170,000 or more. Eighteen months later, 1,690 employees had salaries above $170,000.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-23   12:42:12 ET  (1 image) Reply   Trace   Private Reply  


#56. To: jwpegler, go65 (#54)

Defending South Korea did not bankrupt us. Borrowing money to wage wars of choice in Iaq and Somalia and Afghanistan and Yemen and beyond will.

"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.

Godwinson  posted on  2011-01-23   12:57:46 ET  Reply   Trace   Private Reply  


#57. To: jwpegler, lucysmom, go65 (#55) (Edited)

Federal workers are enjoying an extraordinary boom time — in pay and hiring — during a recession that has cost 7.3 million jobs in the private sector.

Shows you the free market does not work in raising the salary levels of workers who have seen a decrease in real household incomes since the 70s.

We went from one income families to 2 family incomes to needed 3 family incomes (kids working) for the middle class.

I find the right wing scum always screaming "class warfare" anytime the left brings up the compensation of executives in America but the right wing has no problem attacking the income of workers in govt or in unions and doing class warfare against their blue collar brothers so that the non union workers in the GOP can hate the union workers and govt workers and feel envious towards them and not question the union hating policies that would benefit them and thus do the bidding of the "richers".

The private sector refuses to hire? Start making federal alphabet agencies to employ the American people via 90% taxation of multi-millionairs like President Eisenhower did.

"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.

Godwinson  posted on  2011-01-23   13:03:08 ET  Reply   Trace   Private Reply  


#58. To: Godwinson (#57)

via 90% taxation of multi-millionairs

Are you dumb enough to believe anybody ever paid anything close to 90%? There were MANY more deductions at that time.

no gnu taxes  posted on  2011-01-23   13:13:36 ET  Reply   Trace   Private Reply  


#59. To: no gnu taxes (#58)

There were also 3 recessions during the Eisenhower presidency.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-23   13:30:44 ET  Reply   Trace   Private Reply  


#60. To: jwpegler (#59)

There were also 3 recessions during the Eisenhower presidency.

Recessions are part of the life cycyle of capitalist economies. Deal with it.

"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.

Godwinson  posted on  2011-01-23   13:43:33 ET  Reply   Trace   Private Reply  


#61. To: no gnu taxes (#58)

Are you dumb enough to believe anybody ever paid anything close to 90%? There were MANY more deductions at that time.

So what? Still worth it.

"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.

Godwinson  posted on  2011-01-23   13:44:06 ET  Reply   Trace   Private Reply  


#62. To: Godwinson (#61)

Are you dumb enough to believe anybody ever paid anything close to 90%? There were MANY more deductions at that time.

So what? Still worth it.

It doesn't matter what the tax rate is, the wealthy will still whine.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-23   14:05:37 ET  Reply   Trace   Private Reply  


#63. To: lucysmom (#62)

The rich in America are parasites. Very few of the rich in America are men of innovation like Henry Ford was who created the wealth via industry. We should pass a law stating that any wealth over a million dollars not invested in job creating endeavors should be taxed at 90%.

"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.

Godwinson  posted on  2011-01-23   14:10:48 ET  Reply   Trace   Private Reply  


#64. To: jwpegler (#55)

When the recession started, the Transportation Department had only one person earning a salary of $170,000 or more. Eighteen months later, 1,690 employees had salaries above $170,000.

I see, you're measuring between June 2007 and June 2009 - I thought you were speaking of 2010-2011.

My question was regarding your statement, What is the U.S. doing? Hiring more bureaucrats, and handing them six figure salaries and pensions.

If I'm not mistaken, government jobs are being shed left and right.

Also, my experience in the private sector has been that when jobs are shed and work is done by contractors, the company actually hires more managers at higher pay to direct the work load and oversee contractors.

Another thing to consider, while a six-figure income may seem like a lot to you and me, we are told by the GOP that an annual income of $250,000 does not make one rich and should not be taxed at a higher rate because earners in that bracket are just making ends meet now.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-23   15:04:57 ET  Reply   Trace   Private Reply  


#65. To: Godwinson (#63)

Very few of the rich in America are men of innovation like Henry Ford was who created the wealth via industry.

Steve Jobs may be in the Ford category - at least investors seem to think so.

The Waltons however - definitely not. I doubt the market would notice much if they all shuffled off this mortal coil.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-23   15:12:31 ET  Reply   Trace   Private Reply  


#66. To: lucysmom (#64) (Edited)

If I'm not mistaken, government jobs are being shed left and right.

You are mistaken, as usual.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-23   15:37:46 ET  Reply   Trace   Private Reply  


#67. To: Godwinson (#63)

Very few of the rich in America are men of innovation like Henry Ford

You mean like Bill Gates (Microsoft), Steve Jobs (Apple), Jeff Bezos (Amazon), Sergey Brin and Larry Page (Google), Mark Zuckerberg (Facebook), on and on...

Most wealthy people in American work longer and harder than anyone else.

Sure, there are wealthy parasites living off of 3rd and 4th generation money. They are called the Kennedy family.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-23   15:42:10 ET  Reply   Trace   Private Reply  


#68. To: jwpegler (#67)

You mean like Bill Gates (Microsoft), Steve Jobs (Apple), Jeff Bezos (Amazon), Sergey Brin and Larry Page (Google), Mark Zuckerberg (Facebook), on and on...

Most wealthy people in American work longer and harder than anyone else.

Bull. Microsoft bought someone elses invention called DOS - did not create it. Steve Jobs was a manager not an engineer and Zuckerberg stole the Harvard facebook idea. Google was the Henry Ford Model out of this and their money comes at the expense of copyrighted material now stolen for free online like news stories or music or video (youtube). Youtube was invented so that a guy can upload personal videos not for profit.

In any case, they did not do what they did alone and in cases of Microsoft created a near monopoly.

"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.

Godwinson  posted on  2011-01-23   16:22:21 ET  Reply   Trace   Private Reply  


#69. To: jwpegler (#66)

You are mistaken, as usual.

I think you're wrong about that.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-23   19:40:48 ET  Reply   Trace   Private Reply  


#70. To: jwpegler (#55)

Federal workers are enjoying an extraordinary boom time — in pay and hiring — during a recession that has cost 7.3 million jobs in the private sector.

How can this be given federal taxes are lower than at any point in the last 50 years or so? Shouldn't the private sector be booming as a result of the Bush tax cuts?

Since January 3, 2011, Republicans have controlled the power of the purse.

go65  posted on  2011-01-23   21:15:43 ET  Reply   Trace   Private Reply  


#71. To: lucysmom (#69)

I think you're wrong about that.

I just posted the stats from USA Today. Go argue with them.


"It's very important to remember the law is not simply what powerful people would want others to believe it is." -- Julian Assange

jwpegler  posted on  2011-01-24   11:01:07 ET  Reply   Trace   Private Reply  


#72. To: jwpegler (#71)

I just posted the stats from USA Today. Go argue with them.

Why should I argue with them?

You changed the subject which was the government shedding jobs.

Merchants have no country. The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains. Thomas Jefferson

lucysmom  posted on  2011-01-24   11:21:45 ET  Reply   Trace   Private Reply  


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