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There’ll be no more tax cuts for wealthy Americans… President Barack Obama signalled that after his re-election, he sees this as the best way to prevent a “budget catastrophe”. Delivering his first speech after re-election, Mr Obama outlined his economic strategy for the years to come. A budget deficit could cause the catastrophe Mr Obama was talking about. A “fiscal cliff”, which is likely to happen in January of 2013, could plunge the American economy back into recession. Spending cuts were approved as part of a strategy to avoid budget deficit. Mr Obama cited experts to say that by September of 2013 the budget deficit will decrease by 503 billion USD (15.9 trillion Roubles. 400 billion Euros. 320 billion UK Pounds). However, the USA would have to pay a high price for this… mass unemployment and a 0.5 percent decline in American economic growth. It means that rich Americans won’t avoid higher taxes. Mr Obama emphasised that he’d veto any bill suggesting more tax benefits to those earning more than 250,000 USD (7.9 million Roubles. 197,000 Euros. 157,000 UK Pounds) a year.
Some analysts believe that Obama overdramatized on purpose, trying to provoke a reaction from the Republicans who control the House of Representatives. Konstantin Sonin, Pro-rector at the Russian School of Economics {a pro-oligarch mouthpiece: editor}, said, “Obama’s just bargaining, since the sides have different approaches to the issue. To avoid a serious conflict they should achieve a kind of a compromise”. Yakov Mirkin, expert at the Russian Institute of Global Economy, said, “Evidently, there’ll be no budget catastrophe. Republicans and Democrats will definitely agree on raising the debt ceiling. Both parties focused on reducing budget deficit, although they offer different approaches to the issue. If Romney had won the election, there’d have been a decline in taxes with numerous benefits offered by the American tax code removed. I mean tax loans related to education, and the money spent on healthcare and insurance policies, as well as small businesses”.
Obama offers a different approach… the affluent, which comprise some 2 percent of the American population, should pay more taxes, whilst the rest, some 98 percent, could enjoy lower taxes. The Senate has already approved a bill, and the president is ready to sign it at any moment. To reduce negative consequences, Mr Obama is ready to look for a compromise with Republicans. In any case, he won`t be able to avoid debates on the economy with the House of Representatives. Generally, Russian experts think that Obama’s re-election is a good sign for the US economy, since he’s already a proven and successful leader in terms of handling the financial crisis. Despite strong opposition from the Congress, he managed to attract huge investments into the American economy, which resulted in moderate economic growth. If Mr Obama sticks to this policy, it’d only do good to both domestic and global markets.
10 November 2012
Andrei Smirnov
Voice of Russia World Service
http://english.ruvr.ru/2012_11_10/Obama-s-economic-policy-the-rich-should-pay-too/
Editor’s Note:
The American electorate rejected the tripartite emphasis of the Romney/Ryan non-plan:
- Massive tax cuts for the rich, coupled with drastic cuts to all government social programmes
- Unrestrained warfare in foreign parts and a return to torture and imprisonment at black sites abroad
- Turning a blind eye to racism and white supremacy (“Keep the White House white”)
That is why white women rejected the Grand Olde Phony candidate. They saw their families hurt by Republican cudgelling of ordinary folks to aid the grasping Affluent Effluent, they saw their kids coming home in body-bags or maimed from the wars, and the Republicans’ unfeigned racism disgusted them (the “legitimate rape” comments weren’t so influential… all women know that the Grand Olde Perverts are like that). The Republicans needed to win big with white women, but their greedy and cruel platform ensured a massive gender gap in white voters (mainly, they lost white women whilst winning white men). Yet, its telling defeat didn’t lead the Republican Party to reject any of these rancid points. It’s poised to break into two, if not three, blocs, which would cement Democratic power for the next generation. The Republican Party is paying dearly for such heeding greedster RINOs as Ann Coulter, Rush Limbaugh, Sean Hannity, Bill O’Reilly, Grover Norquist, and Paul Ryan… it’s rejected its true legacy from Abraham Lincoln, Theodore Roosevelt, Ike, Rocky, Jake Javits, Nixon, and Gerald Ford. As it’s done that, it deserves to die… the sooner, the better. They’re just shills for the rich and whores for the military-industrial complex… do remember what Ike said of that.
The Republican Party turned its back on its past with Slobberin’ Ronnie Reagan, with his shameless whoring for the Affluent Effluent and his mindless juvenile hatred of “big government”. No society of 300 million can be run as though it were a rural Ozark backwater. In 2012, the Republican Party shot itself in the head with full malice aforethought. All the king’s horses and all the king’s men can’t put them back together again…
BMD
Obama’s Economic Policy: The Rich Should Pay Too
Tags: 2012 US Presidential election, Abraham Lincoln, Ann Coulter, Barack Obama, Bill O'Reilly, Democratic Party (United States), Dwight D. Eisenhower, Gerald Ford, Grover Norquist, Ike, Jacob Javits, Jake Javits, Konstantin Sonin, Mitt Romney, Nelson Rockefeller, Obama, Paul Ryan, political commentary, politics, Republican, Republican Party (United States), Richard Nixon, right-wing, Rocky, Rush Limbaugh, Sean Hannity, Theodore Roosevelt, United States, United States House of Representatives, US House of Representatives, USA, Willard Romney
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There’ll be no more tax cuts for wealthy Americans… President Barack Obama signalled that after his re-election, he sees this as the best way to prevent a “budget catastrophe”. Delivering his first speech after re-election, Mr Obama outlined his economic strategy for the years to come. A budget deficit could cause the catastrophe Mr Obama was talking about. A “fiscal cliff”, which is likely to happen in January of 2013, could plunge the American economy back into recession. Spending cuts were approved as part of a strategy to avoid budget deficit. Mr Obama cited experts to say that by September of 2013 the budget deficit will decrease by 503 billion USD (15.9 trillion Roubles. 400 billion Euros. 320 billion UK Pounds). However, the USA would have to pay a high price for this… mass unemployment and a 0.5 percent decline in American economic growth. It means that rich Americans won’t avoid higher taxes. Mr Obama emphasised that he’d veto any bill suggesting more tax benefits to those earning more than 250,000 USD (7.9 million Roubles. 197,000 Euros. 157,000 UK Pounds) a year.
Some analysts believe that Obama overdramatized on purpose, trying to provoke a reaction from the Republicans who control the House of Representatives. Konstantin Sonin, Pro-rector at the Russian School of Economics {a pro-oligarch mouthpiece: editor}, said, “Obama’s just bargaining, since the sides have different approaches to the issue. To avoid a serious conflict they should achieve a kind of a compromise”. Yakov Mirkin, expert at the Russian Institute of Global Economy, said, “Evidently, there’ll be no budget catastrophe. Republicans and Democrats will definitely agree on raising the debt ceiling. Both parties focused on reducing budget deficit, although they offer different approaches to the issue. If Romney had won the election, there’d have been a decline in taxes with numerous benefits offered by the American tax code removed. I mean tax loans related to education, and the money spent on healthcare and insurance policies, as well as small businesses”.
Obama offers a different approach… the affluent, which comprise some 2 percent of the American population, should pay more taxes, whilst the rest, some 98 percent, could enjoy lower taxes. The Senate has already approved a bill, and the president is ready to sign it at any moment. To reduce negative consequences, Mr Obama is ready to look for a compromise with Republicans. In any case, he won`t be able to avoid debates on the economy with the House of Representatives. Generally, Russian experts think that Obama’s re-election is a good sign for the US economy, since he’s already a proven and successful leader in terms of handling the financial crisis. Despite strong opposition from the Congress, he managed to attract huge investments into the American economy, which resulted in moderate economic growth. If Mr Obama sticks to this policy, it’d only do good to both domestic and global markets.
10 November 2012
Andrei Smirnov
Voice of Russia World Service
http://english.ruvr.ru/2012_11_10/Obama-s-economic-policy-the-rich-should-pay-too/
Editor’s Note:
The American electorate rejected the tripartite emphasis of the Romney/Ryan non-plan:
That is why white women rejected the Grand Olde Phony candidate. They saw their families hurt by Republican cudgelling of ordinary folks to aid the grasping Affluent Effluent, they saw their kids coming home in body-bags or maimed from the wars, and the Republicans’ unfeigned racism disgusted them (the “legitimate rape” comments weren’t so influential… all women know that the Grand Olde Perverts are like that). The Republicans needed to win big with white women, but their greedy and cruel platform ensured a massive gender gap in white voters (mainly, they lost white women whilst winning white men). Yet, its telling defeat didn’t lead the Republican Party to reject any of these rancid points. It’s poised to break into two, if not three, blocs, which would cement Democratic power for the next generation. The Republican Party is paying dearly for such heeding greedster RINOs as Ann Coulter, Rush Limbaugh, Sean Hannity, Bill O’Reilly, Grover Norquist, and Paul Ryan… it’s rejected its true legacy from Abraham Lincoln, Theodore Roosevelt, Ike, Rocky, Jake Javits, Nixon, and Gerald Ford. As it’s done that, it deserves to die… the sooner, the better. They’re just shills for the rich and whores for the military-industrial complex… do remember what Ike said of that.
The Republican Party turned its back on its past with Slobberin’ Ronnie Reagan, with his shameless whoring for the Affluent Effluent and his mindless juvenile hatred of “big government”. No society of 300 million can be run as though it were a rural Ozark backwater. In 2012, the Republican Party shot itself in the head with full malice aforethought. All the king’s horses and all the king’s men can’t put them back together again…
BMD