Australian Politics Forum - The U.S.of A. arrives at its Destiny

Raven

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Re: The U.S.of A. arrives at its Destiny
Reply #30 - Nov 8^th, 2016 at 3:23pm

Sprintcyclist wrote on Nov 8^th, 2016 at 3:17pm:

red baron wrote on Nov 8^th, 2016 at 2:12pm:

Over the past 8 years Trump has made hundreds of millions..over the past 8 years Obama doubled the national debt of America trillions of dollars. (Today’s Federal Debt of the U.S.A. is $19,790,136,330,003.19.)

I rest my case

X 2

He also owes hundreds of millions of dollars to the Bank of "Jhina"

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greggerypeccary

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Re: The U.S.of A. arrives at its Destiny
Reply #31 - Nov 8^th, 2016 at 3:25pm

red baron wrote on Nov 8^th, 2016 at 1:30pm:

30 Entrepreneurs Who Went Bankrupt then went on to success

Name Birthdate Profession Bankruptcy Date Eventual Net Worth

Henry Ford
July 30, 1863 Founder of Ford Motor 1903 $188,000,000,000

Donald Trump
June 14, 1946 Real Estate Developer 1990 $3,000,000,000

Walt Disney
December 5, 1901 Founder of Disney 1921 $1,100,000,000

Anna Nicole Smith
November 28, 1967 Model, Actress 1996 $450,000,000

H.J. Heinz
October 11, 1844 Founder of Heinz 1875 $400,000,000

George Foreman
January 5, 1949 Boxer/Grill Spokesman 1983 $300,000,000

Bob Guccione
December 17, 1930 Founder of Penthouse 2003 $400,000,000

Kim Basinger
December 8, 1953 Actress 1993 $250,000,000

Clarence Saunders
August 9, 1881 Founder of Piggly Wigglies (Now Safeway) 1922 $180,000,000

Milton Hershey
September 13, 1857 Founder of Hershey 1880 $150,000,000

Larry King
November 19, 1933 News Anchor 1978 $144,000,000

William C. Durant
December 8, 1861 Founder of General Motors and Chevrolet 1936 $120,000,000

Ulysses S. Grant
April 27, 1822 President 1881 $95,100,000

Francis Ford Coppola
April 7, 1939 Film Director 1990 $67,400,000

Isaac Hayes
August 20, 1942 Singer, Actor 1976 $50,000,000

MC Hammer
March 30, 1962 Rapper 1996 $33,000,000

Wayne Newton
April 3, 1942 Singer, Actor 1992 $30,000,000

Burt Reynolds
February 11, 1936 Actor 1996 $30,000,000

P.T. Barnum
July 5, 1810 Showman
1856
$25,000,000

Mick Fleetwood
June 24, 1947 Musician, Activist
1984
$25,000,000

Randy Quaid
October 1, 1950 Actor
2000
$25,000,000

Stan Lee
December 28, 1922 Founder of Marvel
2000
$20,000,000

Abraham Lincoln
February 12, 1809 President
1833
$18,400,000

John Connally
February 27, 1917 Govenor of Texas
1988
$11,000,000

Heidi Fleiss
December 30, 1965 Hollywood Madame
1998
$10,000,000

Perez Hilton
March 23, 1978 Blogger
2005
$10,000,000

Buffalo Bill
February 26, 1846 Showman
1913
$8,000,000

William McKinley
January 29, 1843 President
1893
$7,500,000

Jerry Lee Lewis
September 29, 1935 Singer, Songwriter, Pianist
1988
$5,000,000

Benedict Arnold
January 14, 1741 Major General
1779
$2,500,000

Cheesy

I don't see many who went on to be POTUS.

Running a country is nothing like running a business.

Surely you must understand that?

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greggerypeccary

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Re: The U.S.of A. arrives at its Destiny
Reply #32 - Nov 8^th, 2016 at 3:26pm

red baron wrote on Nov 8^th, 2016 at 1:34pm:

Gregg dear boy you haven't been paying attention.

I have already state on another post here that Donald Trump borrowed $14 million from his father to start his business.

In 1971 he inherited $200 million from his dad's estate

He is currently worth $3 billion dollars..so I guess he did learn from those bankruptcies huh? Wink

Completely irrelevant when it comes to being POTUS.

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Redmond Neck Gold Member Offline OzPolitic Posts: 23080 ACT Gender:	Re: The U.S.of A. arrives at its Destiny Reply #33 - Nov 8^th, 2016 at 3:36pm 5'30" until election day polls open New York !
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Raven

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Re: The U.S.of A. arrives at its Destiny
Reply #34 - Nov 8^th, 2016 at 3:41pm

Prime Minister for Canyons wrote on Nov 8^th, 2016 at 1:11pm:

red baron wrote on Nov 8^th, 2016 at 1:07pm:

You need to read this before you have dinner so you don't get indigestion!

Today’s Federal Debt is $19,790,136,330,003.19.

The amount is the gross outstanding federal debt issued by the United States Department of the Treasury since 1790.

But, it doesn’t include state and local debt.

And, it doesn’t include so-called “agency debt.”

And, it doesn’t include the so-called unfunded liabilities of entitlement programs like Social Security and Medicare.

Federal Debt per person is about $60,650.

Again, how is Trump planning to deal with this?

Trump' plan to handle the debt is printing more money.

And he is floating an insane idea that would tank the US economy.

He said he would approach financing the U.S. government like it’s one of his failing casinos.

He said, as president, he’d find ways to renegotiate the public debt and pay less than 100 cents on the dollar if the economy went bad.

Quote:

I’ve borrowed knowing that you can pay back with discounts. I would borrow knowing that if the economy crashed, you could make a deal.

Some corporate finance deals really do work like this: You issue risky debt, and the lenders know you might not be able to pay them back in full if something really bad happens. But that kind of debt bears a high interest rate, because the lenders know you might not be able to pay them back in full if something really bad happens.

U.S. Treasury bonds have very low interest rates because investors are extremely confident they will be paid in full, even in poor economic conditions. Trump, by openly saying he would keep partial payment on the table as an option, could spark a crisis in the Treasury markets if he became president. Investors would cease to see Treasuries as a safe asset and demand higher interest rates in exchange for risk.

Trump is suggesting America's debts are unpayable (which is untrue) so if you’re going to default anyway, you might as well borrow what you can while you still have access to the credit markets.

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issuevoter Gold Member Offline Australian Politics Posts: 9200 The Great State of Mind Gender:	Re: The U.S.of A. arrives at its Destiny Reply #35 - Nov 8^th, 2016 at 3:45pm Yep, Destiny. Gonna get us right between the eyes! I'm digging my apocalypse bunker as fast as I can. Hey Goober, pop me another one them there pepsacolas, I'm sweatin' like ole Charlie Darwin on Judgmint Day.
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greggerypeccary

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Re: The U.S.of A. arrives at its Destiny
Reply #36 - Nov 8^th, 2016 at 3:48pm

cods wrote on Nov 8^th, 2016 at 1:40pm:

greggerypeccary wrote on Nov 8^th, 2016 at 1:24pm:

red baron wrote on Nov 8^th, 2016 at 1:15pm:

But Trump knows how to run a business and make it profitable. He sure as hell will knows how to deal with the indescribable national debt of America.

Apples and oranges.

To compare the two is ludicrous.

However, if you insist on going down that track:

1. Trump isn’t a self-made man. Trump took over his father’s business, and he inherited money when his father died.

2. Four of his businesses have filed for bankruptcy.

And:

http://67.media.tumblr.com/f6d21d67226f4cf17df28db28447ebc9/tumblr_o2wbma4HrH1s4...

greg you should have watched the show on SBS what a pity you dont watch free to air.. it was an eye opener....and do you know how he makes his money today....??????>.....he is one clever dude...no you dont have to like him he doesnt give a toss if you dont...he will always be richer than you.....

Wealth doesn't impress me, cods.

No matter how much money he has, he will never be a decent person.

I know people without a cent to their name who are far better people than him.

The man doesn't have a single redeeming feature.

When he loses the election tomorrow, i'll be celebrating really hard.

Might even take the day off tomorrow to watch it all unfold.

Might need Thursday off to recover.

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Mr Hammer

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Re: The U.S.of A. arrives at its Destiny
Reply #37 - Nov 8^th, 2016 at 3:51pm

greggerypeccary wrote on Nov 8^th, 2016 at 3:48pm:

cods wrote on Nov 8^th, 2016 at 1:40pm:

greggerypeccary wrote on Nov 8^th, 2016 at 1:24pm:

red baron wrote on Nov 8^th, 2016 at 1:15pm:

But Trump knows how to run a business and make it profitable. He sure as hell will knows how to deal with the indescribable national debt of America.

Apples and oranges.

To compare the two is ludicrous.

However, if you insist on going down that track:

1. Trump isn’t a self-made man. Trump took over his father’s business, and he inherited money when his father died.

2. Four of his businesses have filed for bankruptcy.

And:

http://67.media.tumblr.com/f6d21d67226f4cf17df28db28447ebc9/tumblr_o2wbma4HrH1s4...

greg you should have watched the show on SBS what a pity you dont watch free to air.. it was an eye opener....and do you know how he makes his money today....??????>.....he is one clever dude...no you dont have to like him he doesnt give a toss if you dont...he will always be richer than you.....

Wealth doesn't impress me, cods.

No matter how much money he has, he will never be a decent person.

I know people without a cent to their name who are far better people than him.

The man doesn't have a single redeeming feature.

When he loses the election tomorrow, i'll be celebrating really hard.

Might even take the day off tomorrow to watch it all unfold.

Might need Thursday off to recover.

Money doesn't impress you hey. Why doesn't Rooty Hill impress you then? You love money Pecca.

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greggerypeccary

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Re: The U.S.of A. arrives at its Destiny
Reply #38 - Nov 8^th, 2016 at 4:00pm

Mr Hammer wrote on Nov 8^th, 2016 at 3:51pm:

Money doesn't impress you hey.

Not in the slightest.

There are many more important things in the world.

Mr Hammer wrote on Nov 8^th, 2016 at 3:51pm:

Why doesn't Rooty Hill impress you then?

I haven't been, Homo.

Would I be impressed?

Mr Hammer wrote on Nov 8^th, 2016 at 3:51pm:

You love money Pecca.

I love some of the things it can get me.

I don't love money, though.

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red baron

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Re: The U.S.of A. arrives at its Destiny
Reply #39 - Nov 8^th, 2016 at 5:00pm

Raven is totally incorrect...where does 'printing money' come from. Perhaps the same place as Hillary Clinton declaring a tax on the rich will solve America's debt problem..what a total joke that is and...she has said that.

Trumps plan is as I have said already in this site...place 45% tariff on imported goods..particularly read China. Then...reduce company tax by 30%. This will stimulate industry to grow and be able to compete again.

That means growth of industry in the U.S. that means jobs and that transfers into profits and that means the U.S. reaps a broad based tax windfall as a result of a growing economy...Raven would you care to tell me what part of that plan involves 'printing money'...really where do you get this stuff. Cheesy

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Frank Gold Member Offline Australian Politics Posts: 57281 Gender:	Re: The U.S.of A. arrives at its Destiny Reply #40 - Nov 8^th, 2016 at 5:17pm It will be Trexit. But in any case, Trump has already won - he is setting the agenda, not Hillary.
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mothra Gold Member Offline Australian Politics Posts: 36384 Gender:	Re: The U.S.of A. arrives at its Destiny Reply #41 - Nov 8^th, 2016 at 5:32pm Frank wrote on Nov 8^th, 2016 at 5:17pm: It will be Trexit. But in any case, Trump has already won - he is setting the agenda, not Hillary. Lol... are you in for a surprise.
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greggerypeccary Gold Member Offline Australian Politics Posts: 150938 Gender:	Re: The U.S.of A. arrives at its Destiny Reply #42 - Nov 8^th, 2016 at 5:35pm Frank wrote on Nov 8^th, 2016 at 5:17pm: It will be Trexit. It sure will. Tomorrow, Trump exits the presidential race as the loser. Champagne on the chill.
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Raven

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Re: The U.S.of A. arrives at its Destiny
Reply #43 - Nov 8^th, 2016 at 6:03pm

red baron wrote on Nov 8^th, 2016 at 5:00pm:

Raven is totally incorrect...where does 'printing money' come from. Perhaps the same place as Hillary Clinton declaring a tax on the rich will solve America's debt problem..what a total joke that is and...she has said that.

Trumps plan is as I have said already in this site...place 45% tariff on imported goods..particularly read China. Then...reduce company tax by 30%. This will stimulate industry to grow and be able to compete again.

That means growth of industry in the U.S. that means jobs and that transfers into profits and that means the U.S. reaps a broad based tax windfall as a result of a growing economy...Raven would you care to tell me what part of that plan involves 'printing money'...really where do you get this stuff. Cheesy

Trump

Quote:

First of all, you never have to default because you print the money

Now by doing this America will not default on its debts. The government can print more money to repay the debts, which would cause inflation but not a default.

45% tariff on China? No doubt a president Trump will threaten them with it, then decide it won't be necessary. This will be announced shortly after the hundreds of millions of dollars he owes the Chinese government has been miraculously written off.

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Re: The U.S.of A. arrives at its Destiny
Reply #44 - Nov 8^th, 2016 at 6:24pm

Let's look at Trumps tax plan

Trump would simplify the tax code but cut taxes mainly for the rich.

Trump’s tax cuts would be the deepest ever, reducing revenue $6.2 trillion in the first decade and mostly benefiting corporations and the highest-income Americans. Some middle-income families, however, would receive a tax increase.

With interest, the cost would be $7.2 trillion over 10 years, nearly doubling the growth in the federal debt that is otherwise projected. The cost would build in subsequent decades, though Trump denounces the size of the debt at nearly every campaign appearance.

The Trump plan would give the richest 0.1 percent of taxpayers — those with incomes of more than $3.7 million this year — an average tax cut of $1.1 million, for a 14 percent increase on average in their after-tax income. The middle one-fifth of Americans by income would receive a tax cut increasing after-tax income less than 2 percent, on average, while the poorest fifth would get a break of less than 1 percent.

Mr. Trump would reduce the top marginal tax rate for individuals, now 39.6 percent, to 33 percent, and the corporate rate to 15 percent from 35 percent.

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