House Speaker John Boehner may have painted himself into a corner with his support for the Ex-Patriot Act, a bill proposed by two Democrats to punish people who renounce their citizenship to avoid paying taxes.
David Cay Johnston, columnist for Reuters, Pulitzer Prize winner and author ("Perfectly Legal" and "Free Lunch"), joins Ed Schultz to discuss tax dodgers, and to debunk the myth that President Obama is a big spender.
Leave a Comment:
Yes, debunk the myth part of it.
I believe the chart just did that. did you bother to look at the chart and check out its accuracy?
Larry, you just expect too much from a republican. His mind is already made up, he doesn't look at facts. LOL
The chart is wrong, it doesn't include $410 billion H.R. 1105, the Omnibus Appropriations Act, 2009 which the President signed among other factors, it's just not accurate. Sorry Mom, facts matter, not just pretty charts. LOL
You seem to forget. The President can't spend one dime. The US house must pass any spending. All the President can do is sign. And you should know by the number, HR, it is a HOUSE written and passed appropriation. Also appropriation would indicate financing for an existing project, agancy or department.
The chart is wrong, it doesn't include $410 billion H.R. 1105, the Omnibus Appropriations Act, 2009
What makes you think it doesn't include money spent under the Omnibus Appropriations Act of 2009? The original MarketWatch article cites the table of historical federal spending (Table 1.1 - I presume) that appears in the 2013 President's spending request as the source of the data that was used in the analysis to develop the chart shown above. That table shows "Total Outlays" - why do you think that the $410 billion was left out of that total?
Oh My! John Bohner for anything Dem's do is a jaw dropping moment! Now we wait for his other shoe to drop! It seems to be an illness the Re Pubs have there for it then there against it! You would think they would have terrible case of whip lash! You know like the Mitten's he invented Obama Care and now hes against it! Go figure. Should these slime balls be stopped you better believe it!The flood gates will be opened to the wealthy taking there wealth out of this country and not paying taxes, i seem to think of someone else who has done that by the name Mitt Romney. Hes running for president so he must have his feet held to the fire. He as a President if elected will enjoy the taxes we pay to keep him in office all the long his US blood money from the bussinesss he shut down sits in foreign bank. Just saying!
Romney had offshore accounts that he fully declared and paid his taxes on. That's totally different than renouncing your citizenship to avoid US income tax rates. If you're going to spit vitriol about the man at least stick to things he's actually done.
And I don't blame Boehner for supporting the act either. It's probably the best way to try to slow something I've warned people about in the past. People seem to forget that as it stands now, the truly wealthy do not have to stay here. Or rather, they can obtain citizenship somewhere with a very low tax rate like the Bahamas or the British Virgin Islands and "vacation" here for most of the year.
The big issue with the ex-patriot act will be in how it is worded and the nature of the penalties it employs. The last thing you want to deal with is a gateway to things like expanding the criteria for accusing someone for treason. Legislation like this can become a slippery slope if not carefully crafted.
No he didn't pay taxes on his off shore accounts.
Yes, he did. That's why they were listed on his income tax return. You don't list income like interest from accounts you're trying to hide from the IRS. If it's on the return you have to pay for it. Common sense overrules you there, larry74.
No he didn't pay taxes on his off shore accounts.
Yes he does pay taxes on his offshore accounts.
Larry you're batting 1000 again today. You really shouldn't pretend to know about things like offshore accounts. Stay within your area of expertise like model cars and such.
John
New York passed a millionaires tax. Billions of dollars got sent to Florida almost overnight. Now NY takes in less than it did before.
There's nothing better than watching liberals fail, time after time.
Jerry, how many cars have you painted and made $35,000.00 on? How many cars have you painted that have taken first place in major car shows? How many cars have you painted that sold for $90,000.00? How many cars have you painted from people you don't know from 3 states away with no questions ask about price?
And as usual, jerry doesn't like liberals so he doesn't read the entire comment, just what fits his selfish ideas. Jerry, I hope you don't think I give a rip about what you think. But any time you want to come this direction, we can discuss things.
how many cars have you painted ?
None, painting cars would ruin my manicure.
I hope you don't think I give a rip about what you think
You do, that's what makes it so much fun.
Larry, I would say you are amazing. This is what America use to be. Not like Romney who made millions dishonestly and now calls himself job creator. Hes a job terminator. Keep painting and raking in well deserved money and continue to have pride in yourself and your work.
Pam did you know that 78% of Bain Capital companies are doing fine? Of course you didn't know. You get your info from ImALiberalandNotTooSmart.com.
Deval Patrick, gov of Ma. and close friend of Obama says Bain Capital is an asset to Ma. Gee you're kidding...you didn't know that either?
Don't tell me...some Republican hijacked your computer and filled it full of right wing lies.
Honey, how do you spell buffoon?
Speculation at its best but then you have no ideal what Mittens or any other wealthy person has in those accounts, that is why they are called tax havens and were illegal up until the 1980's. But hey what can you say, it is that type of thinking that keeps you out of the 1% club.
tea party will jump him and he will cange his lying mounth. otherwise he'll cave in to preasure....
Amazing how when republicans are in office spending is out of control and yet when a democrat is in office and spending is way down they complain of too much spending. They really don't practice what they preach.
It would be nice for once if the republicans were honest..ok that is asking too much....
Well if you're really worried about it, vote Tea Party candidates or Libertarians into office. Since its the Tea Party block that created the debt ceiling crisis both times it's pretty obvious they want to stop spending. Libertarians would cut all government programs off except for the military, and they would scale back significantly on that. Does that sound better to you?
Even the major economist agree that now is not the time to stop spending. Money is cheep. Now is the time to bring our out dated infrastructure up to date. Put a few million people to work at the same time. Make a more business freindly infrastructure. Our nations power grid is out dated and old, a terrorist could shut this country down in 10 min. But then you righties had NO problem with GWB spending on the credit card. It wasn't a problem until a Democrat got into office and started to cut spending. And John Boehner going back on his deal for the automatic cuts by trying to increase the defense budget and not allow the cuts. And you fail to mention what would have happened if your tea party would have succeeded in causing the debt cieling not to be raised. Just shows you have no interest in the survival of this country.
You seem to mistakenly believe I agree with the Tea Party. I was using them as an example of extremists doing harm. Truth be told, I prefer someone in the middle of the road in either party. That's what made Clinton a better President than Obama or Bush could ever hope to be. He could unite people. Bush started to fracture the ability of Americans to work together and Obama clearly has not lessened the divide. You need a person who can successfully bring people to the middle for things to work properly again. Why do you think the least conservative candidate available won the GOP nomination? Granted, he had to play to the right to win the nomination but Romney is certainly nothing like a Santorum or a Bachman.
Even the major economist agree that now is not the time to stop spending
Pssst...Larry...we don't have any money to spend!!
you righties had NO problem with GWB spending on the credit card.
Yes we had serious problems with Bush's spending.
Yeah once he was out of office for 8 years you cheer lead him on thinking that Reagan golden handout was a sure thing with GWB, until the economy crashed from GWB and the GOP nit wit squad. Poor jerry is so delusional he actually believes he knows more then the experts on economics.
Whomitmay. The Republican Economics 101 has failed miserably . They still cling to there failed policy's and hold tight to no taxes! We have no money for this country because we have sent untold amounts counted and uncounted for the past 10 years to Iraq and Afghanistan. For 6 months they have closed Khyber pass and now they want $5000.00 dollars a truck. We are funding both sides of the war. Its time to get real instead of continuing on the same old path we must bring our troops home and as the President said do our own nation building. The time is now and its time the damn Republicans tore up there pledges and stop being obstructionists! There either with the American people or as bad as the terrorists!!!!
Pam exactly, nation building does not work, which is where we spent the majority of the money. Rebuilding the nation you destroyed worked once: Japan. Since then any time you try to "civilize" your enemies to make them more like your country you are tossing good money after bad. We would have been better off leveling Afghanistan, salting the earth to remove the possibility of Opium production as a cash crop impossible, and going on our way. Instead we are trying to make the people there think like us when they are fundamentally opposed to everything America stands for. It just doesn't work.
And whoitmay, who are you to say who I can think of as a successful president? You don't know me, where I come from, or what I believe. So take your sarcastic preconceived stereotypes, write them out, and then shove them where the sun doesn't shine you hate mongering idiot.
Obama is the only president in history to spend over $1 trillion tax payer dollars every year he has been in office...
Ah, and there we have another REPUBLICAN lie.
How can math be a lie
dept was 10 trillion when Bush left office dept today is 15 trillion
15-10=5
Obama was in office for 3 years when we hit 15 trillion that is 5 more then when he took over the office
5/3=1.66
Obama spent 1.6 trillion dollars for each year he has been in office
Liberals are blind to the facts.
Did you see ed pointing his finger last night. Ed's neck bolts started to come lose.
He kept jamming his 3 facts about obamas record.
Ed was yelling about the 4 million jobs, hey ed the country is still down over 5 million jobs sense obama took office.
Then is the 26 months of job growth, ed look at the unemployment rate over 8% for the past 3 years, no jobs have been added.
And last is the auto bail out, here to ed has his info all whacked out of shape, GM did in fact file for bankruptcy, after obama gave them a back stop all on the tax payers tab.
Fiat came in and saved MOPAR.
Now notice how that did not have a positive effect on the unemployment rate....
The GM bail out was nothing more than obama bowing down to his union masters.
BOL then there is reality that 11 trillion that GWB spent comes with interest compounded by the second. Typical tea bag outrage fake to the core. As does the cost of GWB's playing cowboy in the middle east. so whine me a river because that is all you know how to do, whine.
I see whoitmay needs some direction too. Here you go young, Taker.
11 trillion that GWB spent
2001 debt $5.7 trillion
2008 debt (last year GWB in office) $9.9 trillion
2011 debt $15.6 trillion.......
Go learn some basic math skills please.
Oh boy look its the Koch roaches and their misinformation squad.
Those numbers are from gao.gov and omb.gov
better run and tell them they are the "misinformation squad(s)"
What kinda math do they teach at Harvard
it too America over 200 years to accumulate 10 trillion and dept it took Obama 3 years to accumulate 5 trillion and it will be over 6 trillion by the end of his term
So how the hell can he say his spending is the lowest in 60 years
You lefties have to be ignorant to beleave this funny math
Copy and send this chart to the liars at fakenews, please. The lowest informed viewers need some help.
DemElicabeth, you need some help and here it is. The real liars are at MSNBC.
Obama has aded over $5 trillion to the debt.
That 1.4 % is small due to the fact it already was over $10 trillion.
next it has obama's number from 10'-13'..
It is not 2013, and obama took office in 2009.
Furthermore the CBO is "trash in trash out" the chart is only as good as the information it is derived from. Bad info equals bad charts & graphs.
Next fact is the democrats control the senate and the budget committee, explains the over 1100 days of no budget.........
And we get the usual tea bagging my statement was not meant to be factual repeat.
Did you think Bush's hugh deficit, left to Obama, came interest-free from China or the Social Security fund? The chart shows what Obama has spent, not the interest paid on the Bush's 11 trillion charge account. It's called the Republican credit card: they get into office and go wild with taxpayers' money, then let the Democrats pay it off, term after term, but you conservatives are too stupid to even check the facts. The debt burden has consistently increased since Richard Nixon left office, except during the presidencies of Jimmy Carter and Bill Clinton. Oh my, they were those tax-and-spend Democrats. Get real and try educating yourself on facts, not Fox news lies.
What do you call it when the GOP want to cut taxes more then what savings they can get from cutting spending then increase their own spending on borrowed money..........gee can't get fooled again, unless you trust the GOP that fooled you into deficits that is.
Obama didn't inherit the economy, he asked for it, campaigned for it, and got it. Four years later saying "it was his fault" makes no sense when you're the one that promised to change things. We didn't force him to run for President, so he needs to accept all that comes with the title, including the state of the economy three years into his presidency.
I don't know where Ed gets his facts from, check that, they are not facts. Here is the truth about the debt. Also, Bush Senior did not crash the economy, nor did Junior. The liberal community reinvestment act crashed the economy, not Bush.
Anyway, here is the truth about the debt. What do you liberal-Takers care about debt ? You want the spending to go unabated.
Debunked nonsense but then all it is really is Reagans good old welfare lie that he made up and you just transfer it to every bad GOP disaster.
Wish ed would explain to us all the difference between owning a for profit fishing lodge in Canada and having a few million dollars in a bank in the Bahamas is....
Hey ed, why do you have your for profit fishing lodge in Canada? to avoid paying US taxes?
Hey ed, why do you have your for profit fishing lodge in Canada?
Because that's where the fish are.
Forgot there are no fish in the USA...
And those big azz dividers in the great lakes that keep the fish from swimming into the USA side.
Question: IF the House has stopped the Prez every inch of the way in the last 3.5 years... What if any Spending are they talking about that has been passed in the last year that the House has allowed that has inspired job growth, other than that for the Tax Cuts and the majority of the House "influence peddling" friends?
1st, the House was under control of the democrats for obama's 1st 2 years in office.
And the senate has been under democratic control for the past 6 years.
The republicans took over the House in 2011.
Go learn some basic math skills please.
Go Read the CoH
..and your response was uncalled for.. maybe you should include the Teabagger-Repug Senate the first two years that did a record breaking number of Filibusters.. to put up their concrete wall.. to stop the Prez.
Maybe if the Repugs had a better education they might be able to spew fact instead of hyperbole.
record breaking number of Filibusters
Oh just cry me a river why don't you.
The liberal way of running the store, is not working out very well.
It's okay, you had your chance, and droped the ball.
R O F L !!! Thanks .. I needed that .. Gawd!!
Yea real funny!!!!!!!!!!! Over 40 million Americans on food stamps, over 12 million Americans out of work.
3 1/2 years of over 8% unemployment, keep laughing.
Ed will not let me post any links that show the truth. Figures, he has to keep you young takers, blind, dependent, and socialist. I will continue trying to help as many people as I can!
Reagonomics... = Trickle Down Economics... It worked!!!! The Economy Trickled Down.
Ed will not let me post any links that show the truth.
So, Ed has scoured the Internet and put a block on all the web pages, throughout the world, that can provide information to do what? Provide information contrary to a graph from the MarketWatch site?
Tell you what - why don't you post a link to something non-controversial - like a sports page. That will let us know whether it's Ed or you. If you can post a link to the sports page - then simply describe the page you want to post - or type the URL in and let us copy-and-paste it.
Now - let's see this 'truth'.
He hasn't earned the right to post links. To keep spam low the vine makes you earn the right to post links. It has nothing to do with Ed it is in the agreement you agree to in order to post on the vine.
Newsvine started with venture capital money, then sold to NBC Universal/MSNBC.
According to obama and the liberals all that stuff is bad for America...
Ed your trying to hard. You win! Pravda loves you!
Ed your trying to hard! You Win! Pravda's #1 commentator. Position is yours. Great Job!
Special Ed,
You state, "part of the chart representing President Obama's term includes a stimulus package, too." As we shall see, that is a big, fat lie. It turns out Rex Nutting, author of the phony Marketwatch chart, attributes all spending during Obama's entire first year, up to Oct. 1, to President Bush. That means, for example, the $825 billion stimulus bill, proposed, lobbied for, signed and spent by Obama, goes in ... Bush's column. Nutting's "analysis" is so dishonest, even The New York Times has ignored it. He includes only the $140 billion of stimulus money spent after Oct. 1, 2009, as Obama's spending. And he's testy about that, grudgingly admitting that Obama "is responsible (along with the Congress) for about $140 billion in extra spending in the 2009 fiscal year from the stimulus bill."
Obama also signed off on enormous spending programs that Bush rejected, including the remaining TARP money Bush said the US did not need to spend since the Lehman Brothers crisis had passed, but Obama spent it anyway and the "chart" attributes to Bush.
Nutting also lowballs the spending estimates during the later Obama years. For example, although he claims to be using the White House's numbers, the White House's estimate for 2012 spending is $3.795 trillion. Nutting helpfully knocks that down to $3.63 trillion.
Nice try, Ed. But you forgot that the American people are not as dumb as you (except for your 6 viewers) and can see right through this lame attempt to boost up Obama.
See you in November when Obama is booted out of office.
P.S. I will also be laughing incredible hard when Scott Walker wins his recall election. Ha Ha Ha Ha. See ya, loser!
ED, You need to do a little research before you put this stuff out. The chart/article didn't include all Obama spending from 2009. The First Stimulus (800 billion) was not included, the Omnibus Bill (410 Billion) not included, the surplus TARP funds used by Obama for the Auto Bailout were not included, etc... In all about 1.46 Trillion dollars were spend by Obama in 2009 and the article attributes that spending to Bush. Ed, recalculate using all Obama's spending and you will find he is at the top of the list for spending.