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FORUMS General Discussions Business Who is to blame for the current economic problems
TOPIC: Who is to blame for the current economic problems
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If you have a 401K...and you have any type of common sense distribution of investments, you have increased your growth by 100 to 100% since 2008.

9 Months into Obama's 1st term, unemployment was over 10%, it is now just above 7%

6.1 million Private sector jobs added over the last 35 months

Positive GDP growth every quarter since Qtr 1 2010

Are you freaking kidding me?

Rosemont IL
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wkend hit the nail on the head. It started with the creation of the Federal Reserve, closely followed by the change in the constitution to allow the Income Tax.

Cambria CA
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I also blame them for my bruises that I don't know where I got them from. Maybe it is from all the grabbing at the swinger parties?

Joliet IL
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I blame Aliens. No not those illeagals but the little grey men with insanely big eyes! Spooky!

Joliet IL
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I place almost 100% of the blame on the US people. If everyone: -Made it a point to buy local, domestically produced products regardless of price -Take pride in what you do for a living, and do it well -Quit electing idiot officials -Quite eating the bullshit the government and media feed to us -Raised their children well, instead of relying on the rest of the village first -Got rid of ANY sense of entitlement -Were willing to accept sacrifice as a way of life -NEVER owned a credit card -Made intelligent financial decisions based on actual research -Understood that their neighbors are their best friend and helped them in any way they could -Only bought what they needed and didn't play "keeping up with the Jones's"

We've already had our "fool me once, blame on you", we're into the "fool me again blame on me." We keep allowing ourselves to be fooled by everyone, the media, the government, lending institutions, insurance companies, advertising, etc. The REAL road to success is HARD, and no one wants to hear it. There is no magic pill, or easy money. Quit looking for it, anyone who tries to tell you different is a snake oil salesman. Do you think the farmers, carpenters and blacksmiths that built this country had it easy? What makes you any different? Prepare for long, hard work weeks and enough time at night to make sure that your children know as much or more as you do about something.

Toledo OH
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1913 and Fiat currency

Martinsburg WV
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Gee, how did we get here! It started really in 1980's. First, it was determined that Social Security should end, the WWII vet's we dying off and we do not owe the rest of this country such a benefit. So, we passed spending bills for Military goods and but did not provide the taxes to pay for them. We passed other bills for more spending and did not pay for them. The plan was to run our debts up so high that something would have to be cut, you guessed it, Social Security. The second front was to look after our Corporations, so it was decided and passed by congress to allow the off shoring of jobs. Before this law, Corporations could go aboard and manufacture goods and services but they had to stay there. Today, we call it out sourcing, more unemployment and under employment. The third front was to allow illegals to come and work here. How did that happen. We just did not enforce the laws on our books that it is against the federal law to hire anyone not permitted to work here. The law says" you are to call the gov't and not hire them" but the reality was our govt looked the other way. Cheap labor reduced cost everyone benefits, right? The last nail in our coffin was the two wars not paid for(first time in the history of our country to kick the can down the road for a was) and then sending us over the cliff by tax cuts. So, if you want to return us to return to a stable economy and moving forward country for the people and buy the people, we need to fix the above issues now, not later.

New Castle DE
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Truly Sorry Mr. Vegas......

in a mix of words I included "your complaint about taxes and....when you pay no taxes"

that went from a personal response to the common complaint from many people about taxes. I am sure you did not really think i would even begin to know anything about your personal tax situation. i have never even been to Vegas.

As someone in the financial field for 21 years i know taxes intimately well and i can tell you the 30K to 50K range does not pay much, if any, federal tax. Obviously there are many things to determine this but as a whole.....

so....your complaint about taxes is hard to justify when many people in the aforementioned income bracket do not even pay taxes. if they do pay FIT they are likely paying an effective rate between 0 and 10% of total income. (maybe a little higher if they have no kids, spouse, home, etc. but even if they hit 15% which goes to $68,000 their effective rate is considerably lower.)

it is interesting to me to hear people talk about this and i actually look at tax returns so i then get to see what the inconoclastic client really pays.

as for the rest of your post.....i am only talking about taxes and was not making any inference to equality of bonus, pay, denial of coverage, etc.

i could easily agree with you had you said i bored people and made their eyes roll but i am doubting your comment that i offended a bunch of folks.

now back to the business of drinking, laughing, partying and getting naked.

Philadelphia PA
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jin where do you get off on saying I pay little or no taxes? I try to pay as little as possible but there is no way out I pay a lot of taxes.

I only briefly mentioned taxes as a part of income. However, I'm guessing you offended a lot of people when you said people in the $30,000 to $50,000 don't pay taxes! They do pay taxes!

There is the old saying, figures don't lie but liars figure. That's another way of saying there are many ways to tell the story. Yes the wealthy pay more in income taxes than the poor. However, as a percentage of income the 30 to 50 crowd pay far more than those with far greater incomes. We have expensive habits. If we were to take all the expenses we have as a country and divide it up for every man woman and child there is no way the vast majority of people could ever pay their share. Therefore, the wealthy have to pay more or we have to cut out expensive options like war! As far as exemptions the wealthy have far more available to them that the middle class. If your income is all W-2 you are pretty much screwed. If you have a business there are a lot of options. Take Haliburton for example, they were paid Billions by the taxpayers then they move to United Emerites to avoid paying taxes!

This economic collapse was all about Greed and it's going to happen again. We've obviously not learned our lesson. When it does it will be the middle income people who work hard and pay taxes who will be hurt the worst. At some point those people are going to blow. The question is when?

Wilton CA
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Looking, I didn't mean to imply that those making $30,000 to $50.000 were the only ones affected by this economy. This economic collapse affected many people from poor to wealthy. The point was how long to do these middle class Republicans sit around watching others use their money make a fortune giving you a tiny percentage. Then when these pyramids fail they expect you, the tax payers, to bail them out? When they get bailed out they use your tax money to pay themselves even bigger bonuses for failure! Even if you are true believe in trickle down thing, you have to at some point be questioning the validity of your beliefs?

When you are fighting with your insurance company because they deny coverage. Do you ever wonder why the CEO needs $24 Million to live on? Seriously why do these people need this much money? I'm guessing most of you have no idea whats in your insurance policies. If you actually read them I think you would be shocked at what's not covered. Wouldn't it work better if they paid their CEO's a little less and paid a few more claims that they should be paying?

You can ignor all of this, but the fact is if we don't get our greed in line with reality we are doomed as a country, it's that simple.

Wilton CA
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TOPIC: Who is to blame for the current economic problems