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Jerome Tang Coaches Kansas State Basketball / Re: Stafford OFS!
« on: February 25, 2010, 11:01:08 AM »
Who?
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QuoteThe Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.
Pretty sure that makes any form of income taxation part of the constitution, even if it was added later. But that is why the founders made it possible to ammend the constitution, so that the government could change with the times and adjust to different needs.
It's not like the extra amount taxed on the highest incomes is going to break the bank of anyone in that tax bracket. But really, I'm glad you like rich people and want to help them out so much.
I still don't understand Beck's position. Learn from the Past? WTF? Today is nothing like the 20's/30's.
I guess you're supposed to learn from the past after the depression, not before. I mean, jfc, this isn't that hard….congress made/forced/allowed (however you want to phrase it) banks to lend money (over the course of two administrations) and then eased or allowed for banks to structure themselves and their transactions in ways that allowed them to maintain their risk based capital even though they were taking on more risk, so wtf did they expect banks to do? not make money? So the banks go out and give crap loads of money out...those loans are then securitized and packaged in the market allowing access to basically the entire market....so effectively, you've packaged your risky assests under the guise of highly rated securities.....so then when growth doesn't meet the level of risk taken, the sh*t hits the fan....and guess what? since everyone now bought into those sh*tty assets in various ways, they've now got to meet their own obligations, whether it be credit swaps or whether it be capital ratios...so they then have to sell their assets...all the while people are defaulting on their loans, causing those "non risky" securitized assets to fail and the companies that hold those assets to write them down...affecting their own books...causing people to lose their job...creating a nice little cycle of sh*t......so is that the lesson?
You forgot the part about the government forcing banks to give loans to people that shouldn't get loans/can't afford them. The lesson we should have all learned in the past is that there are some things gov't should keep their noses out of. This basic lesson has been retaught throughout the past 100 years in this country and people just don't learn.
thanks BNW, havent heard that this year
what did he say about the depression?
crazy how short runs are in the NFL....take it in.