Fred Thompson "Catastrophic" if Bush Tax cuts aren't reviewed

[Sandy Eggo]

Watch the video too - it's a piece of work.

http://www.cbsnews.com/8301-503544_162-20012510-503544.html

Former GOP presidential candidate, actor and senator Fred Thompson is appearing in a League of American Voters ad pressing Congress to renew the Bush tax cuts, which are set to expire at the end of the year.


Check out Thompson's pitch at left. "Folks, America's economy is struggling, and Congress is about to make it a whole lot worse," he says, warning of the "massive, automatic tax increase" to come if the cuts aren't extended.


Thompson suggests that income taxes could then increase "10 percent or more," while taxes on capital gains will increase 30 percent and taxes on dividends will more than double.


The effects of not renewing the cuts, he says, will be "devastating."

"Devistating"? Not hardly, but I'm sure that I understand why he'd be concerned:

The big question is: Is that scary ad correct when it says that if no extension is passed, the pre-2001 tax rates will go back into effect and we'll all be hit with a tax increase in 2011? Yes.

Except that's not the plan. Before you work yourself up into a "death panel" town-hall-level frenzy, you should know that unless you're among the wealthiest American families earning $250,000, your tax cuts won't expire.

Addressing the House Financial Services Committee last week, Treasury Secretary Timothy Geithner said President Obama is proposing to leave the tax cuts in place that go to more than 95% of working Americans and "let the tax cuts expire that just go to 2% to 3% of Americans, the highest earning Americans."

http://articles.moneycentral.msn.com/news/article.aspx?feed=MY&date=20100802&id=11787146

If someone were to watch the ad and not research it a little, they might be really concerned.   Poor form Mr. Thompson. You've become a part of the spin machine.

[Palehorse]

What I don't get is that they are trying to say that if the tax cuts are not extended to the 2-3% rich, that somehow it will negatively impact growth and jobs. They have it RIGHT NOW and nothing is happening, just as it will continue to be if they are extended!  They just want to hoard like everybody else, but be more successful in doing so!

[The Troll]

What I don't get is that they are trying to say that if the tax cuts are not extended to the 2-3% rich, that somehow it will negatively impact growth and jobs. They have it RIGHT NOW and nothing is happening, just as it will continue to be if they are extended!  They just want to hoard like everybody else, but be more successful in doing so!

      Fred Thompson afraid of the loss of jobs if the Upper 2% of the Super Rich has their tax back to where it was.  It's was the Republicans to to put a time limit of the tax cut.

  But to show how lousy the S O B Fred Thompson is.  He it trying to get the old people to get a reverse mortgage on their homes.  Dave Ramsey the Christian debt consular, who is on radio 1240.  Says it's a real bad deal.  Too many hidden charges and too much fine print in the contract.

  If you can't con the voters you con the old people out of their homes.  He's pure shit.

[me]

      Fred Thompson afraid of the loss of jobs if the Upper 2% of the Super Rich has their tax back to where it was.  It's was the Republicans to to put a time limit of the tax cut.

  But to show how lousy the S O B Fred Thompson is.  He it trying to get the old people to get a reverse mortgage on their homes.  Dave Ramsey the Christian debt consular, who is on radio 1240.  Says it's a real bad deal.  Too many hidden charges and too much fine print in the contract.

  If you can't con the voters you con the old people out of their homes.  He's pure shit.

As far as the reverse mortgage on home is concerned I will have to agree and I really hate to see them suck anyone in on that one.  I've thought that was a bad idea from day one and the problem is on one realizes it's a problem until the home has to be sold for one reason or another.  As for the tax cuts the businesses have no clue whether the tax cuts are going to be extended so they aren't hiring or expanding because they don't know what the future holds and if the tax cuts aren't extended they will not be expanding or hiring so the economy will stay weak or go down even further.  What's so hard to understand about that? 

[Palehorse]

As far as the reverse mortgage on home is concerned I will have to agree and I really hate to see them suck anyone in on that one.  I've thought that was a bad idea from day one and the problem is on one realizes it's a problem until the home has to be sold for one reason or another.  As for the tax cuts the businesses have no clue whether the tax cuts are going to be extended so they aren't hiring or expanding because they don't know what the future holds and if the tax cuts aren't extended they will not be expanding or hiring so the economy will stay weak or go down even further.  What's so hard to understand about that?

Circular logic! They have been in place for years and what have they done? Nothing! The jobs still left, the factories and businesses still closed, and they are staying that way! Hell, a larger percentage of the wealthy are walking away from their homes than those who are not.

[me]

Circular logic! They have been in place for years and what have they done? Nothing! The jobs still left, the factories and businesses still closed, and they are staying that way! Hell, a larger percentage of the wealthy are walking away from their homes than those who are not.

That just means they weren't as wealthy as they thought they were and overspent on a larger scale.

[Palehorse]

That just means they weren't as wealthy as they thought they were and overspent on a larger scale.

That's BS and you know it. I provided the info elsewhere that proves it too!

[The Troll]

As far as the reverse mortgage on home is concerned I will have to agree and I really hate to see them suck anyone in on that one.  I've thought that was a bad idea from day one and the problem is on one realizes it's a problem until the home has to be sold for one reason or another.  As for the tax cuts the businesses have no clue whether the tax cuts are going to be extended so they aren't hiring or expanding because they don't know what the future holds and if the tax cuts aren't extended they will not be expanding or hiring so the economy will stay weak or go down even further.  What's so hard to understand about that?

  I hate to say this, giving the small business people a tax cuts, giving them money or kissing their butts.  You can't expand business, if there is no money in the hands of the middle class.  Who in hell would add 50 more tables to their 50 table restaurant, if you can only fill 20 tables,  no matter how good your food was.  You got to have money to eat out.


  The American people have lost all of their money living the American dream and having it stolen.  In other words, LIVING TO HIGH.  For one, buying a $250,0000 house when you can only afford one worth $90,000 which both will be a good home.  Buying two new cars when two used ones. Buying second best instead of buying the absolute the best.

  But the main reason and the really one the thing that keeping us from coming  back.  Is free trade.  Remember the big eared guy, Perot,  that said, "If you sign that NAFTA trade agreement, you will hear a large sucking sound of jobs leaving this country."  He sure was right.  We have no jobs, no manufacturing base and right now no hope of every having jobs until the dumbasses in Washington changes these unfair trade deals and give the American worker a level playing field.

    WE HAVE LOST 48 MILLION JOBS, MOSTLY HIGH PAYING JOBS.

  WHAT IS WRONG WITH THIS PICTURE

[The Troll]

 

                       48,000,000 jobs lost

                                   X$40,000 a year income lost

                  $1,920,000,000,000 money lost to our economy each and every year.  Think about it!

[Henry Hawk]

                       48,000,000 jobs lost

                                   X$40,000 a year income lost

                  $1,920,000,000,000 money lost to our economy each and every year.  Think about it!

vote republican and save our economy.....


this message was approved by the Henry Hawk for President committee....

[me]

vote republican and save our economy.....


this message was approved by the Henry Hawk for President committee....

[The Troll]

vote republican and save our economy.....


this message was approved by the Henry Hawk for President committee....

  The Republicans are going to bring back jobs?         

  Who in hell lost them?  The Republican Predatory Super Rich Capitalist did.  Filling their pocketss at the cost of the American people.      Vote Republican and  bring back jobs.  Ohhhhhhhhhh that so much Bulllllll Shitttttttttttt!!!!!!!!!!!.     

[Palehorse]

  . . .
  But the main reason and the really one the thing that keeping us from coming  back.  Is free trade.  Remember the big eared guy, Perot,  that said, "If you sign that NAFTA trade agreement, you will hear a large sucking sound of jobs leaving this country."  He sure was right.  We have no jobs, no manufacturing base and right now no hope of every having jobs until the dumbasses in Washington changes these unfair trade deals and give the American worker a level playing field.

    WE HAVE LOST 48 MILLION JOBS, MOSTLY HIGH PAYING JOBS.

  WHAT IS WRONG WITH THIS PICTURE

And here he is saying it in 1992:

http://www.youtube.com/v/Rkgx1C_S6ls

Yes, he sure did, and yes he was right. And yes I voted for him back then because I knew he was right!

[Palehorse]

http://www.youtube.com/v/GhwhMXOxHTg&NR=1

And here he is in 1993 in a debate on Larry King - with then VP Al Gore - and once again, Ross is spot on!

[The Troll]

And here he is saying it in 1992:

http://www.youtube.com/v/Rkgx1C_S6ls

Yes, he sure did, and yes he was right. And yes I voted for him back then because I knew he was right!

  The condition the country is in now started right after World II.  The Republicans have always wanted to destroy Roosevelt's laws.  The labor laws, the banking laws, the stock market laws Social Security laws..  These laws were really never under attack until Newt Gingrich's middle class destroying "Contract for American."  Where there was a plan to destroy the middle class, Social Security, Medicare, Taft/Hartley law, bank regulations, stock market regulations, labor laws and anything that was good for the middle class working class.

    Ronald Reagan, deregulated the air lines and many other things.  Ronald Reagan and his Super Rich Predatory Capitalist dream up and wrote up the NAFTA Trade Agreement.  All of what Newt Gingrich wanted in his Contract With America.  The start of Republican Predatory Capitalism dictatorship.  Reagan and the Republican Party planted the seed of destruction of America as we know it.

Richard Nixon, he open China and HE WAS A CROOK.  Jerry Ford, who in hell was Jerry Ford.

  Now here comes the winner.  George W..  The World Trade Order, WTO, and let China into this country.  Plus, remember the words.  Fast Track Trade Bill.  He got that and really fucked up this country.  Flat broke and busted and the Republicans wants it back so they can put this country into a Hoover Depression.  I say FUCK THEM!