How do you think America is going to pay off $75 Trillion in debt...

[Anna0499]

Date: 9/19/2008 11:30:46 AM
Author: MoonWater
Oh really? I was unware of the Obama Foundation and Biden Foundation. What are their mission statements?

You said "donate to charities in their own name" - that means not anonymously; if you aren''t donating in your name then in whose name are you donating?

If you meant donate to charities that they founded, then that''s an entirely different phrase. Starting a foundation is actually a very good way to ensure your charity dollars are going to the right places & people. If I had as much loot as McCain (or Bill Gates) to donate I would definitely start my own foundation; I would want to know exactly where the money is going instead of donating to some of the highly bureaucratic agencies that take most of the dollars to pay for administrative costs & then I would encourage others to donate to my foundation as well. I don''t see the problem, but that''s just MHO.

BTW, this article from the HuffPo of all places actually shows that much of Obama''s charity went to the now-denounced Rev. Wright institution Trinity Church & the Congressional Black Caucus & has only become substantial during his presidential run.

 

[MoonWater]

Yes, charities that share the name of the donator. I have a problem when it''s politicians, especially the Clintons.

 

[stone_seeker]

Date: 9/19/2008 11:44:01 AM
Author: IndyGirl22

Date: 9/19/2008 11:30:46 AM
Author: MoonWater
Oh really? I was unware of the Obama Foundation and Biden Foundation. What are their mission statements?

You said ''donate to charities in their own name'' - that means not anonymously; if you aren''t donating in your name then in whose name are you donating?

If you meant donate to charities that they founded, then that''s an entirely different phrase. Starting a foundation is actually a very good way to ensure your charity dollars are going to the right places & people. If I had as much loot as McCain (or Bill Gates) to donate I would definitely start my own foundation; I would want to know exactly where the money is going instead of donating to some of the highly bureaucratic agencies that take most of the dollars to pay for administrative costs & then I would encourage others to donate to my foundation as well. I don''t see the problem, but that''s just MHO.

BTW, this article from the HuffPo of all places actually shows that much of Obama''s charity went to the now-denounced Rev. Wright institution Trinity Church & the Congressional Black Caucus & has only become substantial during his presidential run.

Great article. I guess thats when Huff was rooting for Hillary.

I think the fact that they started their own foundation is a good thing. It takes a lot of time and effort to get these started so I dont think it should be looked down upon vs. giving money to Trinity Church

 

[purrfectpear]

Who says we have to pay it off? If the collection agents didn''t cart us off after the first $74.9 trillion
dollars, what''s the rush to have a plan at $75 trillion

 

[LAJennifer]

Date: 9/19/2008 10:47:39 AM
Author: stone_seeker

Date: 9/19/2008 10:32:54 AM
Author: IndyGirl22

Date: 9/19/2008 10:10:41 AM
Author: stone_seeker
Did you all see Joe Biden''s interview with (i think) Katie Couric? He said we need to ''take'' from you because its patriotic to ''pitch in''. As if those making over $250K dont pitch in already? Why doesnt he just ask us to cut a check to our neighbor?

Haha yeah, we were talking about this over in the RNC/Rep. thread SS. I guess those in the middle/lower classes have no hope of being ''patriotic'' then...why can''t *everyone* be ''patriotic'' & ''pitch in'' and since when is charity considered so? Admirable, yes, but not forced charity...loses all meaning.

I also read today that Joe Biden, over the past 9 years, has contributed a total of $3,650 to charities. $3K in 9 years. I have him beat there so I guess I''m already patriotic?

Here is a chart of the Bidens’ giving for the years covered by the tax returns:
Adjusted
Gross Income Charity

1998 $215,432 $195

1999 $210,797 $120

2000 $219,953 $360

2001 $220,712 $360

2002 $227,811 $260

2003 $231,375 $260

2004 $234,271 $380

2005 $321,379 $380

2006 $248,459 $380

2007 $319,853 $995

Total $2,450,042 $3,690

Wow - Hubby and I barely make six figures, don''t own a home and we give well over a grand a year.

 

[tanuki]

If that information is accurate and comes from reporting Biden''s tax returns it isn''t necessarily an accurate portrayal of what he gives to Charity. It is only what he decides to list on his tax return as a charitable donation in the interest in getting a tax break. If I slip a hundred dollar bill in the collection plate at church every Sunday and don''t bother to get a reciept for tax purposes that amount wouldn''t show up on my tax return.

 

[purrfectpear]

Date: 9/20/2008 4:54:01 PM
Author: tanuki
If that information is accurate and comes from reporting Biden''s tax returns it isn''t necessarily an accurate portrayal of what he gives to Charity. It is only what he decides to list on his tax return as a charitable donation in the interest in getting a tax break. If I slip a hundred dollar bill in the collection plate at church every Sunday and don''t bother to get a reciept for tax purposes that amount wouldn''t show up on my tax return.

That''s good, because it isn''t tax deductable

 

[Anna0499]

Date: 9/20/2008 4:54:01 PM
Author: tanuki
If that information is accurate and comes from reporting Biden's tax returns it isn't necessarily an accurate portrayal of what he gives to Charity. It is only what he decides to list on his tax return as a charitable donation in the interest in getting a tax break. If I slip a hundred dollar bill in the collection plate at church every Sunday and don't bother to get a reciept for tax purposes that amount wouldn't show up on my tax return.

It wouldn't make sense for him to list some contributions to get tax breaks but not other significant ones that would result in bigger breaks...I would take it as an accurate of a portrayl as possible. If he bothers to claim $120/year I'm sure everything else would be on there also.

And also ditto purrfectpear...not going to see a big reduction anytime soon, no matter who's president.

 

[AGSHF]

What I''ve been reading indicates that the draft legislation would raise the national debt ceiling to $11.3 trillion. So, while it is an alarming number and is being spent more and more on things that don''t directly relate to improving our nation''s future welfare, it''s not $75 trillion.


The draft legislation is amazingly short and the text can be viewed here:


http://www.nytimes.com/2008/09/21/business/21draftcnd.html?ref=business


and it completely changes the landscape of Wall Street.


I cannot begin to imagine what went through the mind of the legislative liaison/admin. who had to type those words down.

 

[swimmer]

Budget Hero: A game to play to figure out what to do with out debt: link

AGSFH, your ring is gorgeous!!!!

 

[HollyS]

Date: 9/21/2008 12:45:44 AM
Author: purrfectpear

Date: 9/20/2008 4:54:01 PM
Author: tanuki
If that information is accurate and comes from reporting Biden''s tax returns it isn''t necessarily an accurate portrayal of what he gives to Charity. It is only what he decides to list on his tax return as a charitable donation in the interest in getting a tax break. If I slip a hundred dollar bill in the collection plate at church every Sunday and don''t bother to get a reciept for tax purposes that amount wouldn''t show up on my tax return.

That''s good, because it isn''t tax deductable

Of course it is. My church gives a ''statement of giving'' to the tither at the end of each year, to assist them in claiming this deduction on their taxes. (Tither must pay by check, for accurate records.) It''s a legitimate deduction.