[the 1%] Obama dines at elite, expensive restaurant for Valentine's Day

Can't say I disagree with you insofar as it's simplistic to view stock indices as pure measure of economic strength. However, the economy hasn't been "flooded" with dollars either.

M2 money supply has been pretty much linear since 2006 (shaded). Yes there were blips in late-2008 and mid-2011, both of which corresponded with QE, but QE only gives banks additional reserves. Unless people are more willing to go out and borrow money, none (or very little) of that "newly created money" actually makes it into the economy. Moreover, in between those two blips, money supply growth actually fell well below where it was from 2006-2008.

M2 = Currency, checking/savings accounts, small time deposits


The anticipation of a flood of new dollars is what's caused commodities prices to surge because people were more inclined to move their money out of cash positions.

So...while I agree that QE has done much more harm than good, it's not inherently inflationary, and it's a far cry from the "printing press" people seem to think it is.

 

The dinner table analogy has nothing to do with it. It might make sense if the country was in great financial shape, but that isn't the case. The poor are being asked to make sacrifices in that services normally help them are being cut, medical rates are going up for them and they don't have insurance etc., they are having their pensions cut... the list goes on. The rich aren't being asked to sacrifice anything. They are being given tax breaks and have loopholes to further protect them from paying taxes.

So fair share would be in the amount of sacrifice being asked of someone.

 

LOL us liberals have a day off everyday coz we all millionaires :grin:

 

Not sure if that has anything to do with me or not. If not, I don't get the reference. But I spent more than this on my girlfriend's birthday dinner. It would have been around $300 (without wine pairings) but I left a very large tip.

Maybe I posted about it here and that was the reference.

Or maybe I'm just so vain I probably think this song is about me.

 

Do you actually get angry or upset at the President eating at a nice restaurant for Valentine's Day? Seriously, do you?

 

I also heard that Michelle bought Barack a 40" flat screen TV for Valentine's Day. What will the poor people think?

 

I spent $100 my first meal at Fleming's in Omaha. Two shots of Woodford at probably $10 a pop, some chili-spiced calamari appetizer, some goofy lobster dish (not lobster tails) and I think the tab hit around $80 - $85, so there was really no way around it. I know the Mahogany up here would probably get you for $50-60 just on the steak entree and you could spend over $200. I was taking some classes a year or so ago, anytime I had a test or a big assignment due I'd just hole myself up at a Hilton or Embassy Suites and order room service for a weekend or a couple of days, you're just vomiting cash then.

Really doesn't mean anything at all at any class bracket with a paid off credit card.

 

I agree with you.......but I think a certain 7'6" Chinese man already destroyed the whole "Asian's can't play basketball" myth......if it ever really existed.

 

Get out of here with your facts and knowledge of economics. They don't want to hear it.

I, however, found it interesting. Rep!

 

On Valentines, Christmas, his immediate family's birthdays, and Thanksgiving, he can eat Popeye's or KFC.

Otherwise, it can only be Church's.

 

Wow, I don't come on here that often, but why does BigTexx continue to make a fool of himself? Maybe he has mental issues and doesn't realize the nonsense he's spouting. If he's representative of conservatives, they're certainly going to lose the Presidential election and it might be a while until they win again. So, keep em coming, BigTexx! You're like shouting in an empty forest, and even the birds are curling up in embarrassment.

 

Popeye's is cheaper and tastes better. I don't think I can live with a president who chooses KFC over Popeye's.

 

So, you're in the 1% and you're complaining because President Obama spent $300 on a Valentine's Day dinner? OK, so you're like a Stephen Colbert imitation, right? It has to be a parody, right? Or else, we'll always have this post to refer to when we want to point out how you've lost all credibility. Sweet!

 

Personally, I think it should be based on consumption, here is what I would do to equitably and efficiently tax to fund the government.

Here is what I would do

If funding government was a steak dinner, your analogy might have merit, but we are talking about funding the government. Taxes are the price we pay to live in a civilized society.

Yes

A rich person enjoys the best of what our society has to offer and consumes as much or more services from the government as anyone else. If they ship a product, they benefit from the interstate and road systems that the government builds. If they have a virtual office, they are receiving the benefit of the information infrastructure our government developed. Rich people are far more involved in the court system than your average Joe, whose only experience with the courts is traffic citations.

These days, if you are connected to the government at all, you can get largess from the government, as GE, Exxon, and every rich guy with a tax attorney and accountant is, gaming the tax code in unbelievable ways. If you are corporate and willing to pay more to lobbyists than you do in taxes, you can get special provisions in the tax code or money from the latest "stimulus."

The wealthy enjoy a much higher level of access to the government, of course they should pay more.

Only if you believe the lunatics at Fox.

 

The only thing I learned from this thread is that esteban still loves the trannies.

 

although I agree that Popeyes tastes MUCH better than KFC..I can fee my family much cheaper at KFC than I can at Popeyes. Heck we can eat out at a real restaurant for the same price as Popeyes.

 

Obama?

300 dollars for Valentine's Day dinner?

My God...........

 

post of the thread so far.

 

So true... A couple of weeks agoe I go to Popeyes. I see a sign on the wall that says: “11 Piece Dark for $7.99.” So I jump all over it, added a large Red Beans and Rice and was good to go.

While I’m waiting for my food, I see no less than three people come in and order two or more combo meals each. Mind you the price for a two piece, small side, drink, and a biscuit is like $5.99. Insane!!!

So the moral of the story is, if aint on sale a Popeyes…. DON’T BUY IT!