QE, BAILOUT, DEFICIT -- NIGHTMARES

http://thehill.com/blogs/congress-blog/economy-a-budget/130919-do-nothing-let-the-bush-tax-cuts-expire-to-reduce-the-deficit

Financially and politically, it's no brainer -- even though media is hyped by the few. Let the tax cut expire as it was only used to feed the greed in the past and as well as in the future -- further destroying Americans and America.

Furthermore, economically, it does not make much difference even though we could assume that Americans will spend the difference from tax rate.

The tax cut amount in the hands of the people will not make much difference as most of Americans are spending what they need to spend. The tax rate is gradual anyway, so those who would spend all tax cut saving would have spend money anyway with no or very little impact. And higher income group does not spend money just because tax rate impact.

Bush has figuratively destroyed America by rescuing the banks with 700 billion before he left. Now Bernanke and Geithner along with politicians are destroying America and Americans as shown below how they are robbing Americans and America.

Now the saved banks are destroying America for US Government has to operate with the debt from the Fed Reserve which Americans paid for their fraud and corruption. 50% of US Tax Income is paying for the interest to the Fed Reserve, and it will soon be 100% Tax Income to pay interest to Fed Reserve when interest rate goes up by only a couple of points. This nightmare will be hyperbole as time passes by for all of Americans will be paying for interest to Fed Reserve -- and just to pay interest, tax rate has to be raised. Government can't operate -- so more money is borrowed from the fraudulent Fed Reserve. This vicious and detrimental cycle will take all of Americans and America to death spiral. Not only America, but also All around the globe.

If Bush has let banks to fail, American tax payer of 600 billion could be saving Americans and America. Bush again destroyed America. Americans must act now and save ourselves from destructive and detrimental death spiral -- as well as all around the globe for the same greed is defrauding all.

Quote:
.......... The federal debt has increased by more than 50% since 2006, due to a collapsed economy and the highly controversial decision to bail out the banks. By the end of 2009, the debt was up to $12.3 trillion; but the interest paid on it ($383 billion) was actually less than in 2006 ($406 billion), because interest rates had been pushed to extremely low levels. Interest now eats up nearly half the government’s income tax receipts, which are estimated at $899 billion for FY 2010. Of this, $414 billion will go to interest on the federal debt. If interest rates were to rise just a couple of percentage points, servicing the federal debt would consume over 100% of current income tax receipts, and taxes might have to be doubled." ...............

http://seekingalpha.com/article/237878-whats-really-behind-qe2







THE LAST TIME TAX-CUT EXTENSION WAS DISASTER AS WELL.

This is an old article

http://theboard.blogs.nytimes.com/2008/02/12/about-those-bush-tax-cuts-for-the-rich/

http://online.wsj.com/article/SB10001424052748704312504575618840090383702.html?mod=ITP_pageone_0

US Debt Panel Seeks Greater Support Before Vote: Report

| 29 Nov 2010 | 06:05 AM ET

The chairmen of the White House's debt-reduction commission are making changes to their draft proposal in a move to broaden support before Wednesday's vote, The Wall Street Journal reported on Sunday.

Democrat Erskine Bowles and former Republican Sen. Alan Simpson need 14 of the 18 members of the National Commission on Fiscal Responsibility and Reform to support their proposal in order to issue a formal recommendation, the newspaper said.

The recommendation could then be voted on by Congress.

Winning 14 votes appears unlikely, the newspaper said, citing people familiar with the matter.

The details of the changes were not disclosed, but they were designed to incorporate suggestions made by some of the members of the commission, the newspaper said in its electronic edition.

Earlier this month, Bowles and Simpson proposed a series of changes to U.S. spending and tax policy in areas such as Medicare, Social Security, defense spending that would hold down the growth of the federal debt by roughly $3.8 trillion by 2020.

http://www.cnbc.com/id/40413213/

• • • Obama, GOP Leaders Prepare To Battle Over Bush Tax Cuts

      In the first test of Washington's new political alignment, President Obama will meet with Republican leaders Tuesday to dicuss US tax rates and other issues. No deal is expected, but the sparring could have major consequences. Obama Proposes Pay Freeze

    • Deficit Panel Deeply Divided Over Taxes and Spending
    • Cramer: Congress Holds Fate of Holiday Retail Sales
    • Doug Kass: Shortage of 'This' Could Roil 2011 Markets
    • Level 3 Slams Comcast, Alleges Abuse of Net Standards
    • Seagate Halts Talks with Private Equity Firms

    • Action Heroes Who Got Financially Killed

    • TARP Bailout to Cost Taxpayers $25 Billion: CBO
    • Tablet Computers Are Expected to Cut Into PC Sales
    • Over Eight Million Americans Stop Using Credit Cards
  • Greece Gets Loan Repayment Extension to 2021
  • 
    

  • Greece will have until 2021 to repay its bailout loan, but it will have to pay a higher fixed interest rate of about 5.8 percent from 5.5 percent. Sovereign Credit-Default Swaps

  • '12 Days of Christmas' Now 10.8% More Expensive
  • ECB Official Reassures Markets Over Ireland Rescue
    • EU Approves $113 Billion Ireland Bailout
  • Authorities Worldwide Clamp Down on Insider Trading
  • France, Germany Determined to Save Euro: Spokesman
  • Congress Returns to Work with Long To-Do List
  • Roubini: Portugal Should Consider Rescue
  • Starbucks Accuses Kraft of Hurting Grocer Sales
  • US Debt Panel Seeks Greater Support: Report
  • Cyber Monday Gains Clout Among Bargain Hunters

  • Cool Toys for Billionaires

  • Wal-Mart to Pay $2.3 Billion for Massmart Control
  • FDA Would Boost Food Inspections Under Senate Bill