http://www.zerohedge.com/news/2013-12-16/chart-day-what-generational-theft-looks
Pensacola Discussion Forum
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2seaoat wrote:This chart is the best depiction of what has happened to America. I await Mr. Markle to attempt to marginalize the truth. The trickle down theory and class warfare where the tax code stole from the middle class and wealth has transferred to the upper 1% is the number one problem facing America.
I swore that the free market and trickle down would work. I forgot about my boss who owned a foundry. He was in a top tax bracket, and rather than pay the high taxes, he wrote everything off by investing in the foundry.....creating more jobs.....and increasing his income.......When we dropped the effective tax rates and inheritance and estate taxes.....wealth basically parked their money in a condo in Switzerland, or PB or NB. We lost 50k factories and lost our middle class. The solution starts with raising the tax rates, lowering the exemptions on the estate tax, and giving clear incentives in the tax code for job creation.
Floridatexan wrote:
Oh, and horse caca, Markle. You can't rewrite the facts.
Last edited by Markle on 12/17/2013, 3:05 pm; edited 1 time in total
Markle wrote:As you know, President Bush tried, unsuccessfully for eight years to prevent the mortgage/housing/financial collapse caused the Democrats in Congress led by Chris Dodd and Barney Franks. Here is an itemization of the efforts or the Bush Administration.
For many years the President and his Administration not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President’s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE
When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.
But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.
Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac .
And let me talk about some of the progress which we have made to date, as an example for others to follow. First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion. (Applause.) I want to thank Leland and Franklin for that commitment. It's a commitment that conforms to their charters, as well, and also conforms to their hearts.
This means they will purchase more loans made by banks after Americans, Hispanics and other minorities, which will encourage homeownership. Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments. (Applause.)
Fannie Mae will establish 100 partnerships with faith-based organizations that will provide home buyer education and help increase homeownership for their congregations. I love the partnership. (Applause.)
Last edited by boards of FL on 12/17/2013, 2:56 pm; edited 1 time in total
boards of FL wrote:Markle wrote:As you know, President Bush tried, unsuccessfully for eight years to prevent the mortgage/housing/financial collapse caused the Democrats in Congress led by Chris Dodd and Barney Franks. Here is an itemization of the efforts or the Bush Administration.
For many years the President and his Administration not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President’s repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.
Aside from the fact that Markle's copy and paste job has absolutely nothing to do with the subject matter that it seeks to respond to (hence, Markle doesn't even understand what he is responding to, much less how to respond to it), this is probably the funniest thing I have read all day. And, mind you, I just finished reading Pkr's comments in the thread about expiring unemployment benefits - so this is saying quite a lot.
Markle is obviously in need of a dose of reality.
http://realtytimes.com/todaysheadlines1/item/16142-20020624_bushplan
BUSH MINORITY HOMEOWNERSHIP PLAN RESTS HEAVILY ON FANNIE AND FREDDIE
When President Bush announced his Minority Homeownership plans last week in Atlanta, his top priorities were new federal programs: a $2.4 billion tax credit to facilitate home purchases by lower-income first-time buyers, and a $200 million national downpayment grant fund.
But none of the new federal programs--if passed by Congress--will come even close to achieving the 5.5 million-household increase in minority homeownership the President set as his target.
Instead, most of the heavy lifting was assigned to two mortgage market players that have sometimes come under fire from Bush administration officials and Congressional Republicans: Fannie Mae and Freddie Mac .
How about some direct quotes from the Bush archives?
http://georgewbush-whitehouse.archives.gov/news/releases/2002/06/20020617-2.html
And let me talk about some of the progress which we have made to date, as an example for others to follow. First of all, government sponsored corporations that help create our mortgage system -- I introduced two of the leaders here today -- they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion. (Applause.) I want to thank Leland and Franklin for that commitment. It's a commitment that conforms to their charters, as well, and also conforms to their hearts.
This means they will purchase more loans made by banks after Americans, Hispanics and other minorities, which will encourage homeownership. Freddie Mac will launch 25 initiatives to eliminate homeownership barriers. Under one of these, consumers with poor credit will be able to get a mortgage with an interest rate that automatically goes down after a period of consistent payments. (Applause.)
Fannie Mae will establish 100 partnerships with faith-based organizations that will provide home buyer education and help increase homeownership for their congregations. I love the partnership. (Applause.)
Some more...
http://www.nytimes.com/2008/12/21/business/worldbusiness/21iht-admin.4.18853088.html?pagewanted=all
http://georgewbush-whitehouse.archives.gov/news/releases/2002/10/20021015-7.html
http://www.dailykos.com/story/2012/01/31/1060305/-PROOF-POSITIVE-Republicans-TARGETED-Minorities-to-Buy-Homes
Video?
Markle wrote:
PkrBum wrote:The minimum wage earns less than the poverty line now... it was above when set. Who can sustain/increase their standard of living when the dollar loses purchasing power? Why does the dollar shrink? Who benefits? Who loses? Who decides?
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