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Re: Why does tax rates and interest rates go up now?

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Spiffyhomie123 is not online. Spiffyhomie123
Joined: 28 Jun 2012
Total Posts: 361
06 Jul 2013 07:42 PM
The congress is crying and is desperate of tax and interest money to buy new clothes, cars, private mansions, and other expensive stuff.
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 07:43 PM
The Federal Reserve is raising interest rates.

Have you noticed that the current interest rate is like 1%

They need to rise in order to bring down unemployment.
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
06 Jul 2013 07:45 PM
Actually the current interest is virtually 0.
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Spiffyhomie123 is not online. Spiffyhomie123
Joined: 28 Jun 2012
Total Posts: 361
06 Jul 2013 07:45 PM
I don't remember the interest rates as 1%, I remember them as 3% though.
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 07:47 PM
Its supposed to be like 3 or 4%, but its not.
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
06 Jul 2013 07:48 PM
http://www.aei.org/outlook/economics/monetary-policy/federal-reserve/the-pain-of-zero-interest-rates
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 08:00 PM
Thank you gamert.
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 08:02 PM
...But there is a catch. The Fed is being very careful in raising interest rates because there is a bond bubble that may grow way out of control if interest rates are risen too quickly and without warning.
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
06 Jul 2013 08:15 PM
There is another catch - Alan greenspan raised them slowly and we had the housing market collapse so they can't be raised.
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 08:18 PM
But that was also combined with the bush tax cuts
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
06 Jul 2013 08:53 PM
Pepper, the tax cuts didn't play into effect. The economy 'got addicted to cheap money' and trying to remove that cheap money is like going through rehab after you did drugs.
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 09:02 PM
They did go into effect. That combined with the interest rates at the time caused the bubble to burst.
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
06 Jul 2013 09:07 PM
Pepper, I know they were in effect but, I am saying they don't play into the situation. We took the cheap money away so by effect we had a crash.
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Yobobo10 is not online. Yobobo10
Joined: 14 Oct 2009
Total Posts: 3711
06 Jul 2013 09:08 PM
PHILISTINE

IT'S 0.25%

NOT THAT DIFFICULT GOOGLE
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 09:14 PM
I see.

Not only that, Greenspan took a big risk in having too much trust in the banks to make loans which would likely not be paid back.
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
06 Jul 2013 09:21 PM
Well not only that but, the banks made liars loans. Which is where the information on the consumers behalf is true but, they lied about the grade of the loan and the ability of the consumer to pay back. Hence why terrible loans were being rated tripple A.
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
06 Jul 2013 09:26 PM
Now I feel bad for Greenspan. Just one little mistake, boom all goes down the drain.
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
06 Jul 2013 09:44 PM
That is why you do not try to have a centrally planned economy nobody is smart enough to know when to do what.
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0Z0NE is not online. 0Z0NE
Joined: 25 May 2010
Total Posts: 7951
07 Jul 2013 01:55 AM
[ Content Deleted ]
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Yobobo10 is not online. Yobobo10
Joined: 14 Oct 2009
Total Posts: 3711
08 Jul 2013 12:20 PM
"That is why you do not try to have a centrally planned economy nobody is smart enough to know when to do what."

UAE is doing so badly with that.
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xvxvpredator101 is not online. xvxvpredator101
Joined: 19 Apr 2012
Total Posts: 2059
08 Jul 2013 12:37 PM
wat
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RubiksCubix is not online. RubiksCubix
Joined: 04 Dec 2009
Total Posts: 4243
08 Jul 2013 01:23 PM
There is another catch - Alan greenspan raised them slowly and we had the housing market collapse so they can't be raised.
------------------------------------------------------------------------------------------------------------------------------------
That is exactly why the government shouldn't raise interest rates. The government cannot create economic growth.

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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
17 Jul 2013 09:47 PM
- No it can create market growth. The problem is that the market gets addicted to cheap money. So like going to rehab you've to detox and that hurts a lot of people. But, ultimately it is better for everybody,
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STE4K is not online. STE4K
Joined: 10 Jul 2013
Total Posts: 254
17 Jul 2013 11:49 PM
Dude I made like 1 cent in interest this month, and I have a lot in my account. It is pretty much 0.
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gamert7 is not online. gamert7
Joined: 18 Nov 2008
Total Posts: 4986
19 Jul 2013 05:20 PM
STE4K I already said it is virtually 0. Also yes low interest rates hurt the saver so it encourages people to be fiscally irresponsible.
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