This loot is supposed to serve as an economic stimulus to jump started the already stagnant economy (which I wrote about a few weeks ago) with roughly 66% allocated for tax breaks for individuals ($880 for individuals and $1600 for families) and a significant proportion of the remanding one-third to businesses given it also includes some additional but narrow support for unemployment benefits and food stamps for the poor.
I just wonder why they could not see all this shit approaching? A perspicacious person would have seen the possibility of such. Ronald Reagan started all this mess some 30 years ago. The California cowboy Actor as President Jones put in place policies that reduced the Feds typical role of providing government safe guards for the general public. Namely, protective acts that dealt wit such public concerns like water and food quality/safety and the safety of pharmaceutical drugs.
But it wasn’t all on him. Let us not overlook former (getting some head) President Bill Clinton made what Regan did even worse. It was Clinton who repealed the Glass-Steagall Act (which historically kept banking and Investment houses separate). By this act alone, he made the financial industry like Wal-Mart – one stop shopping. The act was put into lace after the Crash of 1929 (Black Tuesday) and the great depression since both were mostly caused by "improper banking activity or what was considered overzealous commercial bank involvement in stock market investment."
Under his watch, Congress passed the Private Security Litigation Reform Act (H.R. 1058). This is why it is difficult to prosecute, prove and to convict K-Street supporting crooks of security Fraud anymore. It also led to a new dawn in American business by creating an environment ripe for the Tyco’s, Enron’s, and Ken Lay’s to doctor books, profits and stuff their pockets while companies folded, went bankrupt and millions of investors taking all of the losses. I could continue and link this with the present environment of sub prime mortgage lending but such is self-explanatory.
I do not know what they are trying to do. To me what is being proposed and implemented inclusive of the Federal Reserve Bank dropping the over night lending rate to 3.5% don’t do anything. Sure in the short term, it’s like holding pressure on an open ax wound. But like an ax wound, the bleeding may stop, but the person still requires major surgery and may even still get gangrene.
For the general public, the 3.5% cut means that the prime rate will drop to an equal amount to 6.5%. So one may see this if they have credit cards since most folks have variable interest rate credit cards.
So again, this is nothing new. We have set ourselves up for this with Lame leadership including the Bush’s, Bill Clinton and Reagan. I mean am I stupid? Why would going into debt an additional $150 billion help the economy while we are approaching spending 500 billion on Iraq alone? Then we really don’t know the true impact of the sub prime mortgage hustle because there is no way to determine what banks portfolio’s are really worth, or how much lot they have really lost – at least the way I figure. Add to that this past week, interest rates of short-term treasury bonds (6-month) dropped to their lowest rate since 2004 and companies like Delta and United (although the are airlines) reported last quarter losses of 50 and 53 million dollars accordingly. So please tell me if I am wrong, before I transfer 12-15% of my portfolio into gold ingots.
712 comments:
1 – 200 of 712 Newer› Newest»Should I feel bad because this is over my head? And what makes me so mad, is it is that my money is involved.
this is a poor ploy by an ailing party to be ingratiated by those that they have raped.
predatory lending statistics state quite clearly that minorities fell hardest..thus the word predatory.
it was alright to rape a community of their assets but when the shit hit the Dow we needed a quick fix. $1600 is not going to pay the mortgages of those who are losing their shirts in today's economic climate, nor will I make me like the Bush any more than I do!
All Bush and his administration is doing is just placing a band aid on the situation.
I was listening to the news this morning and the only groups being considered for the rebates are senior citizen ($800 rebate check) and lower income families ($1600 rebate check).
It's good to see others understand the Dems, and the Reps are involved instead of the same old tired ass, "They did it, we're innocent," bullshit.
We're getting fucked from all sides, all angles, and it's not going to stop simply because we change Parties in the White House.
Al-Mi-T I think what people DON'T understand is that although the feds have dropped the interest rate that is only for the banks they are doing business with, it's up to those banks if they decide to pass the rate cut on to the consumer. And guess what? They are going to kindly take the cut and not pass it on, watch, your still going to see the commercials that offer 6 percent when they are only paying 3 and a half. Easy money.
Fuck 1600 dollars I want some fuckin' universal healthcare, can you give me that? If that bullshit money that he's handing out to appease the ignorant masses should go to anything it should go to a healthcare package, job training, self esteem mentoring for our hispanic and Black youth, free DNA testing for all the wrongly accused brown people in the system...
But what the fuck do they care huh?
Your right Gold is up 900 dollars so I may have to take my 1600 and flip it one time...
PrettyBlack, I am with you on the Gold.
Next week, he and the feds will be proposing something else.
the one time I actually have something to add and pretty black and aunt jackie beat me too it. lol
But, I have to agree and also mention that I sent this post to my brother and my accountant. they laughed. And they wondered why I said I was going to empty my portfolio and move to Sweden. Or Nigeria.
Most people I know, if they are willing to discuss it, never see their credit card interest rates drop. My rates will stay where they are for the next four years because I've finally gotten my ass into a debt management plan where I make one payment to the Consumer Credit Counseling Service and they pay off my bills based on special programs they have with the creditors.
My $1,600 check is already spent three times over (2003-2005 were rough years and we still haven't caught up) and I wonder will it be an advance on our 2009 tax refund like the 2003 tax rebate check was an advance?
At this point, we are governed by the wealthy who cannot understand the challenges of working class or middle class Americans. They are bought and paid for by the same masters who keep them in office and entice them into the private sector with cushy, well-paid graft-laden lobbying jobs when they've finished at the public teat.
Yikes! Sorry to come over here and spew all over your well-done post.
Thanks for commenting over at Jonestown.
Regards,
DCup
anon - dont fel bad, in fct i admire your honesty, wich we had policy makers with your integrity
aunt jackie - so true, but like i said, that a recent issue, Clinton (not even mentioning NAFTA (did as much damage to fk up our econonmy as Buch with his war
Cassandra - yep like i wrote "it’s like holding pressure on an open ax wound. But like an ax wound, the bleeding may stop, but the person still requires major surgery and may even still get gangrene."
Fairlane - thanks. But too many folks stil are not astute enough t see wha is rally going on. Can say the dumbing down of America
Prettyblack - true in a sense, but it will drop down to any one with a credit card, dont have one. I have amex.
Cassandra and Pretty Black - i am goin to take a 12% of the 350K plus i have in all my investments and put it in bullion
deepnthought - dont move, the markets in the us are still god, i mea i have a different view, i stated investing when it was at 3500 and it is at 12000 so i cant be too mad, unless im a greedy capitalist LOL
Dcup - dont worry, my page your page and I will be back. I liked what I read. and sory to hear how the loot is gone already. and i want to add, they dont even make accomadations for the size of the family go figure
Bottom line
It's all bad!!
Cassandra and Pretty Black - i am goin to take a 12% of the 350K plus i have in all my investments and put it in bullion
-----
T, can I borrow some money until the end of the month??
Maybe it's the cynic in me but this so-called tax rebate is happening during a tax rebate and at a time when the Republican party isn't doing so hot in the polls or the primaries compared to the Democrat. I'm sure whatever rebate we get this year will be taken back after we're bent over somewhere and screwed yet again by the government. Of course this time it'll probably be a Democrat on the other end of the assraping.
yazmar - now thats the truth
cassandra - i aint got it like that, LOL
Freaky Deaky - democrats and republican the same to me. they all get they loot from K street
I may have to persuade you to run for office. Think about that. Act locally, think globally. You already know more than the average elected public servant on any level. I think you have all the makings of a fine candidate. Or at the very least think about grooming a candidate for office or becoming a powerbroker of power (yes I know all power is just an illusion) Give it some real thought. I am sure there are things that need changing in your neck of the woods. Start locally. I will bring this up again. Now this would be mac'in mackin'...whatever, you know.
I ain't trying to put yo biniz out there but 42'000.00 can get you a lot of southern land...in the right part of town they'll be paying you double to build on it.
I have one credit card Visa, been having that shit for years, and have only used it if my car breaks down and for emergencies no lie.
I don't believe in paying 40 dollars for a 28 dollar shirt. I'd just rather use the money if I have it...if I don't it wasn't mean't for me at that time. The only thing NOT paid for in my life right now is my house.
Living for today will have a sista begging for tommorrow. Donna Karan can keep her wares unless she's willing to let me invest in that shit...
AmEx is good though pay it when it's due...
i'm thinking about trying to get my hands on some gold as well. can yall help a sister out?
seriously, this rebate will be just like the last one. it won't really help anything long term. it's just a quick fix.
Peace Torrance!
Reaction is what they rely on, the powers that be, if you will. They have tapped into the very nature of human emotions and thus cause us (the masses) to move without our even having any awareness of the consequences. We are reactive and they know this……
First off, how could they not see this coming? You’re right, they did, just as they knew about the first depression, 911, Hiroshima, Desert Storm, Pearl Harbor, The Boston Tea Party and every other historically political act. In fact, they are waiting for the effect to fall right in line with their cause! They understand that humans are easily distracted as long as it is something those humans deem pleasurable, comforting, elevating or any number of other happy thoughts. Just like this whole “kick back” thang! They are relying on the general public to do just what they know we will. REACT and the problem is, that more people don’t question the motive such as you have. That’s what they don’t count on from the masses because they have dangled various amounts of different distractions in front of us and not unlike the trout in the brook…..WE BITE! Then it gets so bad, we hopefully realize that we have been caught hook, line and sinker. BAM, right in the palm of their hands. What they do know will happen is that the lower incomes and senior citizens, most of them, will turn around and be appeased with the “help” and blow their wadd. Cause we have to always have the latest and greatest…… ie: cell phones, computers, clothes, cars, houses, music, and so on. The majority will bite and get caught up. Do we remember how good it felt when we got your first job and the paycheck came and it was just burnin a hole in our pocket and we wanted to go out and collect (by paying for) the newest Chucks, a new book, a microwave, maybe it was a gold chain or whatever, as long as it was new and we’d be the envy of our homies just for coppin it? Well they know this….. but can we look past the surface of that to see something deeper? What’s deeper? IT IS ALL PART OF THE PLAN. They know that we are superficial creatures of habit and that most of us will check our mail daily until the money comes and forget to read the headlines of what is going on in Iraq each day that we are greedily awaiting our cash…. They know that most of us will not pay attention to the various bills that are introduced and passed while we are awaiting our cash…. They know that most of us won’t question the increase of debt to our nations “credit” in order to process and hand out this rebate because we are greedily awaiting our cash! It is pitiful how brainwashed we are as a people. Not many thinkers out there and not many think about where this money keeps coming from. If we already in debt as a nation, yet we suposidly have this “grade A credit” and we keep getting loot to spend in Iraq, on political salary’s, senate vacations, REBATES and all the other various frivolous spending habits. Yet our greedy little souls are going to be awaiting this CASH. We are prisoners of our own devices.
SMDH…….. Keep speakin on it T!
One Love,
Deanna
my brother, my brother...and sisters too are representing. man i need to come by earlier.
AJ and pretty black along with the other commentors covered all the bases.
y'all are some smart people on this blog. glad to be in such good company.
peace
No, Brother All-Mi-T u R NOT EVEN stuupid (but u know that already;-). Just remember that despite all the ignorance & misery in this world - we come from SURVIVORS & THRIVERS and for Livin' we WERE BORN! I need my Man Sterling Brown's words MORE than EVAH: Strong Men (& Women;-) gettin' Stronger!!!
Cap - u know mr sterling "harvard grad" brown is onr of my favs
DC - Im over your spot all the time and feel safe and at home, so make yourself at home here ok
D - and peace unto u. I told u u need a blog so well said, as usual....how u liking the books so far? and i do think it is part of the plan, no Abe lincolns around when u need a real greenback
aqua - sad thing is i wont qualify for a rebate (single parent) making more than 75K a year...and sure u wont my broker info?
Prettyblack - what i spend i pay. its a carge card not a credit card n most folk dont know the diff.
and I live on and own 11 acres and i wear clothes i was wearing in high school still. I mean same size 6-2, 180
Babz - good look but im the wrong mutha fucka to put in front of a camera. I remeber when i got my phd and told my folks, they said who gone let u get a phd, u they worse night mare lol
ps-prettyblack - 4000 sq feet, 5 bedrooms and its a farm. u like peach, apple and pear trees LOL
You have more eloquently put into words my feelings than I could have. It's sad how that now that the gov't has raped us and then effed us again with no KY is sickening and now they want to soothe us with a kiss called tax breaks. *smh*
Thanks for always giving us the real news...check out my latest, I think it's right up your alley.
All the more reasons to think about elected office. If more talented Brothers like you turned the political system upside down then perhaps, "The Race" may have a fighting chance. Don't be so quick to say no--there are all sorts of elected offices---is your school Board elected? 11 acres--do you own a tractor too? I will trouble you with this in a few motnhs. I swear I will.
Hmm well dear it's done. No food stamp increases no unemployment help instead we'll give the check earning non-taxpaying folk $300 to stimulate the economy... literally the check's in the mail. So umm T, can I get a loan lol, you know to stimulate the economy LMAO.
He started with a recession, he's ending with a recession, and if you ask some he kept a recession all the way through. What a legacy to leave!
You know how I feel about government...it's all about how much money they can make. It's not a Dem or Repub issue because they're both corrupt. People have such short memories that they think Clinton was a god because at least we weren't at war. They forget that NAFTA royally effed us, and that was all his doing. If the Dems had the answers, no Repub would ever hold office and vice versa. We need a viable 3rd party candidate for a change.
They are trying to sell this so called relief package as being the cure to a sluggish economy. They say that if they give more back, people will spend more, thus boosting the economy. Nope, sorry, it won't work. Any money spent on any product that is manufactured in a foreign country does nothing to boost our economy. Spending the money on previous debt does nothing to boost our economy. Finally having some money to pay the soaring heating costs for the winter will do nothing for the economy. In fact, most of this money will go to paying the higher taxes we all have, so how is that going to help the lagging economy? So what idiot came up with this assinine idea? Do they think we're all really stupid enough to think this is a good idea? The problem is, we need the money and we'll take it any way we can get it, no matter what part of our collective soul has been brokered to the devil.
I confess I don't get most of it. It makes my head hurt, and I can't take the time to figure it out cuz it doesn't affect my everyday. Financially, I was doing OK till I went to a "name-brand" school, figuring it would help me long-term. Put my ass in a hole from which I'm sure I'll never recover...
WRT this little so-called tax break, I would have been much more impressed if they put a cap on student loan interest, or upped the Food Stamp budget limit for a family of 2 living in NYC (put it this way... on unemployment, I make too much), or made medicaid easier to figure out. You know, something useful to the little people.
The ironic thing is I worked in the financial industry for a number of years, but they're such a bunch of crooks and I got so disgusted I've conveniently forgotten whatever it was I knew... but they know what they're doing, that much I can tell you.
This little "break" will give those of us Livin' La Vida Low Budget a week's worth of breathing room, but "they" will get years of enjoyment out of it...
I read the post but have no ideal what the government is trying to do. Maybe it's too early in the morning for me to read and offer opinion.
Give me around noon.
I must say though - no one is turning down that extra money being given on tax refunds. lol.
Don - i here u but not to early, i mean u up reading LOL. and like i said i dont qualify for a rebate so gold is looking even more better
the bear maiden - student loans are a kiler and the financail folks, like cops know crime pays
Jaded - vry well said, they should focus on getting folks to save, thats whay we in this mess, and pls dnt mentio NAFTA - makes my flesh crawl
Mrsgrapevine - it started the last two years of the clinto admin to be honest, he was one of the problems
Ma'at - in one word no (no chk from em folk) and y u say i know how to stimulate he econonmy, women yes, economy no, but i would love to try, im a kenneth gailbraith approach type person
Babz - can u see me in a debate, the first thing i would say is that id challenege all thes folks to a duel (john Jay and alexander hamilton like
Blu Jewel - thanks agi hon, u flatter me, and did ch your post out. let me know if u concur
Torrance,
Now is a great time to buy Muni bonds. They are out performing T bonds and in most states they have tax free yields. That includes Fed tax and state tax.
What I would like to see (deep breath)...
Is these people (govt, etc.) and organizations (banks, mega-corps, MEDIA, etc.) be held accountable for all of this MESS.
Nobody's ever friggin held accountable in a way that really matters!!!
I don't get it...
BTW, thanks for stopping by my blog, Torrance.
Mes Deux Cents - good point and true, i just a stock and options man. And Precious metals. I would reccoment the evergreen precious metals fund (nice Muni). you can what munis I have on the bottom left in my stock widget.
Tamra - any time, and im sorry to make u have to catch your breath. do return
Blistering commentary here, I see you peoples. To me it's all very clever Gangster Shit.
Very nice analysis. I like the reference to Glass-Steagall because at the time I knew it was folly.
But I don't know if you can pin Enron on Clinton, and his policies overall were much better than Reagan's or Bush's. So I disagree with you there.
I would just like to add that the senior managers who set up the policies that scammed all those people into variable rate mortgages with teaser rates plus no income verification are going to be kept on by Bank of America...while the others are out. And so it goes.
Anyway those checks will be spent within a couple of months after they arrive and then we will see. Things definitely look bleak.
i'll read your post later...did you get my email?...
Thanks T for you kind words, I;m humbled. And as far as the books....well sheeeeeeeet. I had to hop a flight to Dallas for a meeting this weekend and aside from my interupted nap, I read Fast and Gamin the whole way to Texas. I'm skippin around the book but I have to say my favorite story so far is "clubbin". WOW. What a meritorious display of semblance in ones emotions or lack there of! I though your expression of the club scene both jocular and amicably applied! To be compared or deduced to electronic catastrophies was so on point. You captured the compassionate void that clubbin assuredly brings. But what I found most delightful was the TRUTH in that piece. The human condition in it.
I am enjoying the others as well, you bring to the table an ability to, not only, capture a moment and bring us right there with you, but also portage us back in the memory of each characters nostalgic past circumstances.
um..... my bad for all the editorial talk...... what I'm trying to say is that as an author you are both funky cold and Man-tastic! lol
You may be dippin in my pocket books for a time to come.... whens the next release?
One Love,
D
Sing out brother! At last, someone who is willing to speak the truth about the Administrations who have so fucked us and the economy over, that they and the legislature are willing to buy our votes for a few measley dollars borrowed from China and India.
I'm only sorry to say that while people like you are heading for gold in "them thar hills," I will heading to the mail box for my chump change.
oh an um.... for all the readers of this blog......
Ya'll need to support this brotha's creative genius and order some books from the link on this page.
Y'all think this blog is dope-alicious..... it is too but this Kat can write.
BUY SOME BOOKS AND CHECK HIM OUT!!!!
And that concludes my shout out session and promotional reel....lol
One Love,
Deanna
good stuff brotha...yep its all a mess..like we didn't see this coming? whatever
thanks for stopping by...and i will be back as well.
I can't begin to comment
always hurts my feelings when ppl rhapsodize about Clinton and say all sorts of wonderful misty-eyed things when they don't know jack about any policies he changed or put into place
anyway
nice new pics
your little girl is lovely
Shelle - thanks hon for the kind words, and keep this up, visits and the writin and u will be rolled soon
D - glad u made it safe and thanks for h add. Freak type scene (another book of shor stories will be out in may. DIRT BEHIND MY EARS:ESSAYS AND SATIRE FROM THE DIRTY willl be out in a few weeks. my new bookcover HER KISS WAS NEVER MIND is being proofed as we speak (novel). glad u enjoyed it.
Curious - good look, and that Barbershop post is so true and i rolled u today folk.
guerreiranigeriana - got it will mail letter monday
Anon - I can respect your opinion. Im glad u have one folk. Thats the bottom line
Bossmack - it is gangsta and i like them shirts....love the graphic
GC - y thank u hon. how have u been? but u know us black folks, we find no wrong when we like the fake part of people
This is how government tricks poor and middle class people into thinking that we are prosperous, that things are right, that the war effort is not something we all should have been involved from the beginning (you know, back in the days everyone would ration buy bonds and go through the damned thing together). Kind of how the make people think immigrants take their jobs when in reality THERE ARE NO JOBS, fancy diversionary tactics
Actually All-Mi-T (I like saying that shit reminds me of that spike lee joint...Where my man's oscar at?)
I knew it was charge I was saying I like the way you think on the terms where you got an AmEx because it's due in full every month no high interest payments...
Phd must mean a Players highest degree huh?
At the rate I'm going I'm just going to have to come over to your page and bite off of your intelligence for a while...
(am I aging myself, do they still say bite? lol)
I always feel silly when speaking about politics, I So wish I knew more. I can't help but keep educating myself on the subject.
When it comes down to voting, for many reasons the phrase "the less of two evils" replays in my mind. I appreciate you letting me pull up a chair at your blog home sweetheart :+)
Qucifer - i agree, although i must say we trick ourselves by carring about all but what is important. and is i their (the government fault) because loks dont read the constitution and think amerikkka is a democracy when it is a republic, next thing u know they will think that their vote counts. we should desire our own business and not jobs. An asian or a Taliban ca come over here with nothing and save 1000 in a few months and open a business why cant we
Christina - im flatered and u ca sit in my lap, u i mea table anytime LOL and i fel jus as silly if i is any recourse, cause it makes me mad and black men already die early
Pretyblack - true, if i spend 3000 i have to pay it back at th end of the month and aging, folk aint old u a younging (how old are u and i bet i got u beat) and im flatered. i just writ wha i think (typos and mispelled words included as u ca see). But my books, i pay prooof readers and copy editors so i dont have the same problem there. maybe i will become one of your favorite writers
You already are...I don't keep coming back unless it's something to come back too...
i think it was ronald reagan who said, "there's no quick fix!"
well, guess what ladies and gentlemen, you've gotten a quick fix... a quick fix that won't help a soul from losing their house, a quick fix that will temporarily help someone who is awash in credit card debt, a quick fix that will not contain inflation, a quick fix that MAY fill your car's gas tank for a month, a quick fix that won't be around a month after those checks are cashed, a quick fix that won't lead to the hiring of ONE unemployed person, a quick fix that will not prevent one company from sending one job overseas, a quick fix that will do little to address what is wrong with the economy... and the bad part about it is, plezWorld pays A LOT in taxes, but i'm not eligible to receive any of this quick fix! thanks alot Bush!
Exactly this is a temporary fix that may or may NOT work. You can't undo years worth of damage in one season. Just think, they are looking for people to flush that money right back into the economy...this money is not to be saved...spend it immediately. Then what? Everyone will be pack to penny pinching, and we will still be staring down the face of a recession. Raise the deficit, raise taxes, give a tax rebate, and pray for a miracle. Azz backwards. They might as well keep my rebate...put it towards what I will owe come April 15.
prettyblack - all i can say is thank u agai and that your daughter and man are lucky.
Plez - i dont qualify either, and we been in the R-word for a while RECESSION
Keli - I feel bad, now im thinking I should have called the post ass backwards
This whole situation is the result of too many inmates taking over at the asylumn!
I fail to see where the consumer will benefit from a rebate that is supposedly going to spent ASAP.
The fact that it will take till july to actually get the money out is ridiculous.
Second..it won't do squat, as you say kind sir, for those that have been suffering and trying to keep their heads above water for a long time.
Also, I have posted recently at my personal blog how Billy Clinton and the Democrats are not friends of the common folks.
http://leftwingnutjob.blogspot.com/2008/01/clinton-erawas-it-really-that-good-for.html
http://leftwingnutjob.blogspot.com/2008/01/dccc-dlc-and-clintons.html
More Americans need to know the truth about the Clintons and the DLC. They are not our friends.
Also, thank you for stopping by my personal blog and Sirens Chronicles (group blog) and giving us your thoughts on this issue.
Come on now!! I thought you knew. This is going to repair the economy.....at least until Mid November. These clowns know exactly what they're doing. They're going to improve the economy prior to elections and then claim it as a victory for their party, in the hope of winning the casablanca. Just wait....Obama or Clinton or Mccain or whoever is going to use this. And whenever they do get in office, I'm pretty sure the economy is going to take a downwad turn again because all of that stimulus money will be spent.
msladydeborah - thats the problem, the need to be locked up
Dusty, thanks for the drive by and u are right, and u had me rolling talking about them folks. do stop b again some day. i will keep on checking u out.
MP1 - i did, i just get sick nd tired of folks blaming it all on Bush when al them lames added to the pot. am i still baned at Progressive?
If they really want to make an enormous economic difference, CUT GAS PRICES IN HALF DAMNIT!!!
and i also agree with aunt jackie on this one
Thanks for visiting the Black Women in Europe blog.
black woman in europe - thank u and do return one day
Keala - tht will only be a start and thanks 4 the drive by
[quote]The California cowboy Actor as President Jones put in place policies that reduced the Feds typical role of providing government safe guards for the general public. Namely, protective acts that dealt wit such public concerns like water and food quality/safety and the safety of pharmaceutical drugs.[/quote]
Correction - Reagan imposed HIS VISION of what THE FEDERAL GOVERNMENT should do to "protect" Americans.
To argue any other way is to assume that the prevailing set of REGULATIONS and TAXATION for that matter as well is some GOD GIVEN and correct rate.....even if it was passed with legislation that was passed by a 1 vote margin. The next administration which has a different view point comes along and UNDOES what was passed by this previous one vote margin has not "Turned Back the Clock" any more than you can prove that the INCREASED regulation and taxes had ADVANCED THE CLOCK.
Secondly you ride Clinton for turning back financial regulation that imposes banking separation in the industry - the fact is that the WILD ECONOMIC TIMES that some people are STILL bragging on Clinton about was part and parcel a function of these regulations that you state.
Thus I am confused as to how some of our Black brothers and sisters in particular can point to the GOOD ECONOMIC TYPES that were had under Clinton as compared to now while they repudiate so much of the straight up CAPITALISM that took place. One this is for sure this was not ORGANICALLY generated WITHIN the Black community.
We would be stronger as a community if we shifted more of our economic engine INTERNALLY rather than depending on the crapshoot of having a Democrat in office to make us all FEEL better without having any fundamental changes within to make it more enduring.
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