tag:blogger.com,1999:blog-4320479736034351430.post4977473387205023225..comments2023-10-03T07:01:41.144-05:00Comments on Always On Watch: Semper Vigilans: Quote Of The DayAlways On Watchhttp://www.blogger.com/profile/08192688822955022541noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-4320479736034351430.post-51239045428670940082012-11-03T16:14:21.420-05:002012-11-03T16:14:21.420-05:00Duck,
borrowing in a period of very low interest r...Duck,<br /><i>borrowing in a period of very low interest rates and low inflation is sensible</i><br /><br />However, borrowing a high rate of interest with low inflation results in catastrophe. Again, there is also the matter of the GDP (earning capacity). <br /><br />When the capacity to repay the debt becomes impossible, what happens?Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-4703870786931758402012-11-03T16:12:17.387-05:002012-11-03T16:12:17.387-05:00Duck,
As I mentioned, I've never had a mortgag...Duck,<br />As I mentioned, I've never had a mortgage. As a result, my tax liability has been much higher than than of my neighbors. Also as a result of not having mortgage interest to deduct (as well as other "tax breaks"), I often cannot reach the threshold for itemized deductions.<br /><br />As you've probably guessed, I don't like personal debt. Not at all! I have refused to go into debt my entire life; as a result, Mr. AOW and I were able to weather the terrible medical bills since 2009, when Mr. AOW had his stroke. <br /><br />Government deficits merely postpone a debt that must someday be paid -- just as credit card and other debts must be paid. The lack of balance between revenues and the GDP complicate the matter of government debt.<br /><br />A house of cards always comes tumbling down, you know.Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-5365545185685708482012-11-03T14:40:09.585-05:002012-11-03T14:40:09.585-05:00More on deficit spending.
AOW, let's assume y...More on deficit spending.<br /><br />AOW, let's assume your job is secure. You receive a 5% raise and have a chance at a 4% mortgage on a very good property that should appreciate by 5% a year.<br /><br />Do you turn down the mortgage because debt is bad? I hope not.<br /><br />Government debt isn't much different.Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-58840896606262820542012-11-03T09:59:55.247-05:002012-11-03T09:59:55.247-05:00This comment has been removed by a blog administrator.Liberalmannhttps://www.blogger.com/profile/04612454539046863752noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-91875103459491928122012-11-03T07:53:03.820-05:002012-11-03T07:53:03.820-05:00As I said, AOW, borrowing in a period of very low ...As I said, AOW, borrowing in a period of very low interest rates and low inflation is sensible.<br /><br />Unlike the Saint Ronnie Raygun borrowing for inflated defense spending when interest rates were high and inflation was high it would have been appropriate to spend more.<br /><br />It is not correct to simply state that deficit spending is wrong and not consider the economic climate under which it takes place.<br /><br />Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-83744031043303012532012-11-03T04:33:02.254-05:002012-11-03T04:33:02.254-05:00Duck,
AOW is more productive.
Maybe. But I don&#...Duck,<br /><i>AOW is more productive.</i><br /><br />Maybe. But I don't have any employees. I certainly am not a driver of the economy -- even a microcosm of economy.<br /><br />I'm not even much of a consumer. It's a big deal for me to buy much of anything even when I do have the expendable income. <br /><br />Let's just say that I've never been a materialist.Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-31637239224461446242012-11-03T04:22:22.151-05:002012-11-03T04:22:22.151-05:00Duck,
Long term deficit spending does harm if late...Duck,<br />Long term deficit spending does harm if later inflated dollars can't be used to pay back the contracted debt.<br /><br />Do I like the present tax system? No. I want the entire code simplified to bare bones and very few deductions and exemptions. Maybe a flat rate of 10%?<br /><br />I do not favor tax shelters (even though I have one puny one).<br /><br />I do not favor the mortgage interest deduction (probably because I've never had a mortgage).<br /><br />I do not favor many of the tax credits that are in place.<br /><br />In my view, one of the reasons that progressive taxation has become the norm is that the wealthy and the upper middle-class can afford all the various tax shelters and deductions.<br /><br />BTW, at one time, a flat tax of 1/2 or 1% (with the changes that I've outline above) would have been more lucrative in revenue for the government and less burdensome for taxpayers across the board than the progressive taxation system. I know this for a fact because my mother was an auditor for the IRS and knew all the numbers. I can't recall exactly when Mom made her statement. In the late 1960s, maybe.<br /><br />BTW, you've never seen me use the term "balanced budget." However, if one doesn't balance one's personal budget, one's financial situation becomes grim -- or worse. How does that same principle not apply to a nation at some point? I will grant you that a nation has more time before grim arrives. But look at Greece! Look at Spain! Look at the UK! It seems to me as if living high on the hog on the borrowed dime is coming to an end in Europe.Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-10058782434406517342012-11-03T04:08:02.885-05:002012-11-03T04:08:02.885-05:00Anonymous,
My site, my choice of post topics.
The...Anonymous,<br />My site, my choice of post topics.<br /><br />The post stands.<br /><br />PS: I don't need your advice.Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-45195938345246130852012-11-02T19:20:09.467-05:002012-11-02T19:20:09.467-05:00AOW, deficit spending is not necessarily bad. Righ...AOW, deficit spending is not necessarily bad. Right now with a low cost of capital and low inflation it does no harm.<br /><br />Allowing fiscal policy to be held captive to some balanced budget fetish is a bad idea.<br /><br />Why do you want to continue a system that taxes you at a higher rate than myself? I think that is insane.<br /><br />You are being scammed.Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-34472208423307130302012-11-02T19:00:39.062-05:002012-11-02T19:00:39.062-05:00If the quote is in fact a fake then the basis of t...If the quote is in fact a fake then the basis of the entire item becomes in doubt. Better to delete and produce another with a stronger foundation. A con will always be a con.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-25801614524760856382012-11-02T18:54:21.370-05:002012-11-02T18:54:21.370-05:00Duck,
Can't you see that you, even as well off...Duck,<br />Can't you see that you, even as well off as you are, will not be immune from the consequences of deficit spending if that spending continues?Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-91867786562950639622012-11-02T17:52:49.505-05:002012-11-02T17:52:49.505-05:00Ducky? If it is, then you are not simply an idiot,...Ducky? If it is, then you are not simply an idiot, you are a dishonest idiot.<br /><br />------<br />Actually no.<br />Let's look at this absolute tizzie the fringe right gets in over the deficit.<br /><br />Now, say the government takes in a million and they spend a million three.<br />That excess has to go somewhere and it goes right into the economy.<br />Not bad. But it sounds too much like a perpetual motion machine so there's a rub.<br />Rub is debt service costs and inflation, no?<br />Well the debt service cost is very low at current rates so that isn't a problem.<br />If growth can keep up with inflation it isn't a problem either and right now that's about where things are.<br /><br />Now, to make sure that excess goes into growth you need to get it into the hands of consumers, employers and people who are constructive in the economy.<br />We aren't doing that. We are taxing Mittens and Obummer at 15% and AOW at 40%. To make matters worse, AOW is more productive.<br /><br />So we see why tax policy has been a disaster. Maybe you figure it out or maybe you bend over and say "please sir may I have another".<br /><br />Frankly, I'm astonished by how badly the marks let themselves be suckered.Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-33276755166249693812012-11-02T17:30:41.650-05:002012-11-02T17:30:41.650-05:00Obama really is the food-stamp President!
Food st...<a href="http://randysroundtable.blogspot.com/2012/11/obama-really-is-food-stamp-president.html" rel="nofollow">Obama really is the food-stamp President!</a><br /><br />Food stamp growth 75x greater than job creation!Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-28735114751071224262012-11-02T16:29:13.201-05:002012-11-02T16:29:13.201-05:00At this point my whole focus to keep praying that ...At this point my whole focus to keep praying that those that voted for Obama will have learned their lesson and not vote for him again. <br /><br />However, no matter what Obama or his administration does, they will vote Democrat just because they are Democrat. They refuse to see what has happened to this nation.<br /><br />This was spot-on, AOW.Trekkie4Everhttps://www.blogger.com/profile/03226981394122557804noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-3713836431568780152012-11-02T16:09:13.069-05:002012-11-02T16:09:13.069-05:00I'm sure there are lots of fools out there, bu...I'm sure there are lots of fools out there, but a lot of people were fooled by the mainstream media in my view, a lot of people mistakenly put their trust into those in the media who in some cases were also fooled.<br /><br />I just hope they've learned their lesson this time, either way there will be a lot of learning through pain going around.MathewKhttps://www.blogger.com/profile/14385674205383405783noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-62694416465383165982012-11-02T16:05:28.891-05:002012-11-02T16:05:28.891-05:00THIS speaks for itself: Obama is the worst jobs Pr...<a href="http://www.thegatewaypundit.com/2012/11/october-unemployment-jumps-to-7-9-making-obama-worst-jobs-president-since-great-depression/" rel="nofollow">THIS</a> speaks for itself: Obama is the worst jobs President since FDR.Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-90819769526847412122012-11-02T15:48:51.497-05:002012-11-02T15:48:51.497-05:00Duck,
You mentioned self-aware uteri and an earth...Duck,<br />You mentioned <i>self-aware uteri</i> and <i> an earth that is 6,000 years old</i>. Not all conservatives and conservative Christians believe in those ideas -- not by a long shot.<br /><br />I don't believe in magical tax cuts That said, tax cuts bring more discretionary income to households. As a self-employed person who owns a sole proprietorship, I pay nearly 40% in various taxes (federal, state, local).<br /><br />Furthermore, the many EPA regulations are suffocating for many businesses and individuals.Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-20932381815097325652012-11-02T12:34:05.733-05:002012-11-02T12:34:05.733-05:00The United States is just like a drug addict or an...The United States is just like a drug addict or an acoholic, it has to hit the bottom of the barrel before it can bounce back and recover. Are we there yet? I sure hope so. We'll see next Tuesday!<br /><br />Average Americanhttps://www.blogger.com/profile/17211406136371011324noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-52469047982757656992012-11-02T11:36:01.601-05:002012-11-02T11:36:01.601-05:00Sam,
I think it is too late to save America.
Sa...Sam,<br /><i> I think it is too late to save America. </i><br /><br />Sadly, I agree. There has been a sea change in the thought processes of Americans -- a sea change that started out as a ripple but is now a tidal wave, wreaking destruction.<br /><br />Actually, I am not so naive as to believe the Romney-Ryan will "save America." The best that is possible is to slow down the tidal wave. But if we continue with that metaphor, we must realize that, once in motion, the tidal wave ultimately has to play itself out.Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-15972264399865013362012-11-02T11:34:47.926-05:002012-11-02T11:34:47.926-05:00I think Digby said it pretty well covering the sto...I think Digby said it pretty well covering the story of the report from the Congressional Research Service which was suppressed from release by Mitch McConnell when he found it concluded that tax cuts do not promote growth or job creation (as the left has been telling you)...<br /><br />We don't have a functioning federal system. We have one group half composed of progressives and half of centrists, up against an obstructionist group of lying, moronic connivers who believe in confidence fairies, tax cuts that magically pay for themselves, self-aware uteri, and an earth that is 6,000 years old. It's not exactly a surprise that they would scuttle an inconvenient economic report.<br /><br /><br />Yeah, but you're the smart ones. It is so very, very sad.Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-64394388171898732902012-11-02T11:32:58.029-05:002012-11-02T11:32:58.029-05:00I hat tipped Freedom by the Way and was well aware...I hat tipped <i>Freedom by the Way</i> and was well aware at the time that I queued up this post that the origin of the quotation is questionable. However, the statement is exactly the reality.<br /><br />You know, a lot of people blame Obama for what's happening to our nation. He is, indeed, to blame -- along with his minions. <b>BUT</b> voters chose Obama at the ballot box in 2008, and his election to the office of President speaks volumes as to how foolish and deluded Americans can be. Always On Watchhttps://www.blogger.com/profile/08192688822955022541noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-30235453072236641882012-11-02T11:12:48.341-05:002012-11-02T11:12:48.341-05:00Strangely though is that the item actually does no...Strangely though is that the item actually does not exist in the Prager Zeitung and without a link.<br /><br />Desperation perhaps?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-7898426190884932852012-11-02T11:06:54.150-05:002012-11-02T11:06:54.150-05:00Right on, Sam.
Too many fringe right loons who li...Right on, Sam.<br /><br />Too many fringe right loons who like to dress up as Minutemen.<br /><br />You can't survive that level of fantasy.Ducky's herehttps://www.blogger.com/profile/14608115001116619877noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-39934935030811149052012-11-02T10:28:08.413-05:002012-11-02T10:28:08.413-05:00There is a question about the actual origin of the...There is a question about the actual origin of the quote. One professor claims the quote came from an American blog that no longer exists. <br /><br />In spite of this, the sentiments are spot on ... <br /><br />In my view, this quote does demand that we pay closer attention to history. Vladimir Lenin told us, “Give us the child for 8 years and it will be a Bolshevik forever.” This is how leftist educators are transforming our children into mentally retarded voters.<br /><br />And by the way, even as the truth painfully presents itself, we continue to find parents giddily placing “My child is an honor student” bumper stickers on their “made in Mexico” Caravans. I think it is too late to save America. <br />Sam Huntingtonhttps://www.blogger.com/profile/14780557316548397352noreply@blogger.comtag:blogger.com,1999:blog-4320479736034351430.post-87465222733689804622012-11-02T09:35:31.275-05:002012-11-02T09:35:31.275-05:00At least the Czech's had a place to go from th...At least the Czech's had a place to go from the socialism imposed on them, the United States. I knew some that literally risked their lives to excape such scourge. Now, should B.O. get re-elected, where will WE have to go?JonBerghttps://www.blogger.com/profile/01718776762194333398noreply@blogger.com