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Rich People Should Be Paying More Taxes

Started by stevejhx
about 15 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
Wealthy individuals should pay more taxes and not receive Social Security checks, said Home Depot co-founder Kenneth Langone during a CNBC interview. “I should pay more taxes,” said Langone, who is currently CEO of investment bank Invemed Associates. “I’ve never gone into a tax shelter. I tell guys that are always worried about their taxes…stop worrying and go out and do something. You’ll make more money doing things than you are saving on your taxes.” “I think it’s the price I pay for the benefits this great country has given me,” he added. http://www.cnbc.com/id/39890074 Yup. That arch-liberal, Ken Langone.
Response by Topper
about 15 years ago
Posts: 1335
Member since: May 2008

Wavin' the raw meat?

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Response by truthskr10
about 15 years ago
Posts: 4088
Member since: Jul 2009

yeah I actually watched this interview this morning, he was equally adamant on the however....the however was not with the way the current band of idiots who are spending the tax dollars.

It falls on the same thing with healthcare, most would like to see universal health care, but you have to fix it first along with adding everyone.

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Response by Riversider
about 15 years ago
Posts: 13572
Member since: Apr 2009

Dear Mr. Langone, I understand you are very philantropic but not aware of how to support the United States Government beyond your required taxes. I have provided the following in the hope that it would be helpful to you.

Gifts to the United States Government
How do I make a contribution to the U.S. government?

Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called "Gifts to the United States." This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.

Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782

http://www.fms.treas.gov/faq/moretopics_gifts.html

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Response by printer
about 15 years ago
Posts: 1219
Member since: Jan 2008

and how does someone worth $1.1b define 'wealthy'? cause i'm guessing its not making $250k a year.

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

Of course it is steve who posts half the story, since he loves misleading out of context support for his dumb positions.

Why don't you post this opinion from Ken Langone: http://online.wsj.com/article/SB10001424052748704361504575552080488297188.html

Stop Bashing Business, Mr. President
If we tried to start The Home Depot today, it's a stone cold certainty that it would never have gotten off the ground . . .

Your insistence that your policies are necessary and beneficial to business is utterly at odds with what you and your administration are saying elsewhere. You pick a fight with the U.S. Chamber of Commerce, accusing it of using foreign money to influence congressional elections, something the chamber adamantly denies. Your U.S. attorney in New York, Preet Bahrara, compares investment firms to Mexican drug cartels and says he wants the power to wiretap Wall Street when he sees fit. And you drew guffaws of approving laughter with your car-wreck metaphor, recently telling a crowd that those who differ with your approach are "standing up on the road, sipping a Slurpee" while you are "shoving" and "sweating" to fix the broken-down jalopy of state.

That short-sighted wavering—between condescending encouragement one day and hostile disparagement the next—creates uncertainty that, as any investor could tell you, causes economic paralysis. That's because no one can tell what to expect next.

A little more than 30 years ago, Bernie Marcus, Arthur Blank, Pat Farrah and I got together and founded The Home Depot. Our dream was to create (memo to DNC activists: that's build, not take or coerce) a new kind of home-improvement center catering to do-it-yourselfers. The concept was to have a wide assortment, a high level of service, and the lowest pricing possible.

We opened the front door in 1979, also a time of severe economic slowdown. Yet today, Home Depot is staffed by more than 325,000 dedicated, well-trained, and highly motivated people offering outstanding service and knowledge to millions of consumers.

If we tried to start Home Depot today, under the kind of onerous regulatory controls that you have advocated, it's a stone cold certainty that our business would never get off the ground, much less thrive. Rules against providing stock options would have prevented us from incentivizing worthy employees in the start-up phase—never mind the incredibly high cost of regulatory compliance overall and mandatory health insurance. Still worse are the ever-rapacious trial lawyers.

Meantime, you seem obsessed with repealing tax cuts for "millionaires and billionaires." Contrary to what you might assume, I didn't start with any advantages and neither did most of the successful people I know. I am the grandson of immigrants who came to this country seeking basic economic and personal liberty. My parents worked tirelessly to build on that opportunity. My first job was as a day laborer on the construction of the Long Island Expressway more than 50 years ago. The wealth that was created by my investments wasn't put into a giant swimming pool as so many elected demagogues seem to imagine. Instead it benefitted our employees, their families and our community at large.

I stand behind no one in my enthusiasm and dedication to improving our society and especially our health care. It's worth adding that it makes little sense to send Treasury checks to high net-worth people in the form of Social Security. That includes you, me and scores of members of Congress. Why not cut through that red tape, Mr. President, and apply a basic means test to that program? Just make sure that money actually reduces federal spending and isn't simply shifted elsewhere. I guarantee you that many millionaires and billionaires will gladly forego it—as my wife and I already do when we forward those checks each month to charity.

It's not too late to include the voices of experienced business people in your efforts, small business owners in particular. Americans would be right to wonder why you haven't already.

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Response by HopefulButSkeptical
about 15 years ago
Posts: 88
Member since: Nov 2009

i would have no problem paying higher taxes if i had more say/control over how the money is spent.

for example, i can choose a restaurant for dinner, (sometimes) choose where i sit, choose my food selection, and choose the service tip at the end. government isn't that multiple-choice, but something between the hopeless idiots in office now and my say in tonight's dinner plans would be great!

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Response by Riversider
about 15 years ago
Posts: 13572
Member since: Apr 2009

You do have say, you elect your leaders. It's absurd to think it should go beyond that.

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Response by stevejhx
about 15 years ago
Posts: 12656
Member since: Feb 2008

No, LICC - I posted the whole story with the link.

I'll only remind you that in the good-old-days of 1979, there was more regulation on business than there is today. If you're supporting going back to the days of no-minimum-wage and sweatshops, just come out and say it. We'll listen.

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Response by anonymous
about 15 years ago

Langone highlights that the tax system creates inefficiencies including the time spent on avoidance.

There is also a difference between the "rich" and those trying to get rich. It would take someone earning $250k per year 4000 years to have earned $1billion. And if you factor in taxes, 8000 years, and if you factor in annual living expenses ...

We shouldn't be making our country punish those trying to get rich.

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Response by Riversider
about 15 years ago
Posts: 13572
Member since: Apr 2009

Of course all the taxes do is sop up the extra dollars around that the government doesn't want in ciruclation. The Federal government doesn't actually fund anything via taxes.

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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007
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Response by stevejhx
about 15 years ago
Posts: 12656
Member since: Feb 2008

"Of course all the taxes do is sop up the extra dollars around that the government doesn't want in ciruclation."

There goes your "inflation" argument, RS. You are entirely self-inconsistent.

"The Federal government doesn't actually fund anything via taxes."

What have you done to say that, redefine "fund"?

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

Why would you want the economy of the 1970s? In steve's bizarro mind, the 1970s was nirvana.

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Response by Riversider
about 15 years ago
Posts: 13572
Member since: Apr 2009

If Good Times,All in the Family & Sanford & Son taught me nothing, it ws that the 1970's were prosperous happy times

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

Don't forget Welcome Back Kotter . . .

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Response by The_President
about 15 years ago
Posts: 2412
Member since: Jun 2009

"If we tried to start The Home Depot today, it's a stone cold certainty that it would never have gotten off the ground..."

"We opened the front door in 1979, also a time of severe economic slowdown."

So the Home Depot founder wants to return to the days of Jimmy Carter?

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Response by somewhereelse
about 15 years ago
Posts: 7435
Member since: Oct 2009

No, I think he's saying that its even worse now somehow.

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Response by Wbottom
about 15 years ago
Posts: 2142
Member since: May 2010

mid seventies the stok and ny re mkt were as bad as ever, courtesy of nixon and ford

member "whip inflation now"--now that's leadership!!

thank god volcker disciplined our economy during the late seventies, paving the way for the proaperity of the eighties--

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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007

WIN buttons (Whip Inflation Now)
worn upside-down (NIM): Not Improving Much

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Response by Wbottom
about 15 years ago
Posts: 2142
Member since: May 2010

fruits of which ronnieduh some credit with--sorta like W who inherited a f'ing surplus economy and turned it to complete

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Response by Wbottom
about 15 years ago
Posts: 2142
Member since: May 2010

doggie dooooo--a real mess we will work to clean up after for a loooong time

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Response by Wbottom
about 15 years ago
Posts: 2142
Member since: May 2010

cant wait to read the book W "wrote"--i doubt he will

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Response by stevejhx
about 15 years ago
Posts: 12656
Member since: Feb 2008

"Why would you want the economy of the 1970s? In steve's bizarro mind, the 1970s was nirvana."

Exactly the opposite, LIC - in Ken Langone's bizarro mind, the 1970's was nirvana.

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

Maybe the lazy and unmotivated should step it up and start paying their fair share of taxes.

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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007

The problem, Jersey Housewife, is that they have so much money they can successfully bribe politicians to keep from paying their fair share of taxes, and instead shift it down to working people.

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

The problem, street easy anti-semite, is that they are unproductive and uncreative and expect the producers and creators to pay their share.

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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007

You got that right. Tell the Koch brothers and the Gallo and Walton families to get off their asses and do something for a change, instead of lobbying to avoid taxation.

It's like that old (Smith Barney?) ad: "We make money the old-fashioned way ... THEY earn it."

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

By 1979 everyone knew Carter would be out and brighter times were ahead. Hopefully 2012 will bring the same result.

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Response by columbiacounty
about 15 years ago
Posts: 12708
Member since: Jan 2009

so...do you think that the iranian hostage crisis is what lost carter the election or that was irrelevant?

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Response by HopefulButSkeptical
about 15 years ago
Posts: 88
Member since: Nov 2009

"You do have say, you elect your leaders. It's absurd to think it should go beyond that."

Everyone who watches South Park knows that the choices are Giant Douche or Turd Sandwich. The 2 party system basically fields 2 inept candidates every time. I didn't elect these leaders, the system did.

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Response by The_President
about 15 years ago
Posts: 2412
Member since: Jun 2009

oh, silly LICC. YOu dumb Republicans are never going to get aywhere sicne you guys nominate the craziest people you can find.

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

Like Barney Frank is sane.

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

Or Alan Grayson.

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Response by The_President
about 15 years ago
Posts: 2412
Member since: Jun 2009

Barney Frank has won election 15 times and is 13 points ahead of his Republican challenger. Dems generally don't nominate nut jobs with no chances of winning, exlcuding Alvin Greene.

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

You contradicted yourself.

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Response by The_President
about 15 years ago
Posts: 2412
Member since: Jun 2009

no, I did not. A person is onyl a nut job if they are crazy enough not to have any chance of winning. Someone who stands a chance at winning is not a nut job.

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

If a 15 term incumbent has only 48% with a few days left... Big big trouble.

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Response by columbiacounty
about 15 years ago
Posts: 12708
Member since: Jan 2009

julia ugly one

how frustrated you are.

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

There will be a massacre on Tuesday. Get ready boys and girls.

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Response by columbiacounty
about 15 years ago
Posts: 12708
Member since: Jan 2009

and then what?

nirvana?

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Response by columbiacounty
about 15 years ago
Posts: 12708
Member since: Jan 2009

will you be less frustrated?

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Response by Wbottom
about 15 years ago
Posts: 2142
Member since: May 2010

how long has it been......?

very long i'd imagine

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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007

There will be what there always is at midterm elections, a swing towards the opposition. Dog bites man.

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

wbottom... My favorite song, utube it and enjoy.

"Shit Don't Stop"

[2pac]
Shit don't stop [2x]

Game rules often slang to the right fools
Heavy hittin' at this motherfucker's straight spittin'
Diggin' deep into your brain while tryin to explain
why real niggas need to stick to the game
It's the same got these motherfuckers changin' on me
Jealous-ass player-haters gaming on me
Look out motherfucker homey-G
As in gettin' motherfuckers 'fore they come get me
Get down for the right for the wishes
Fake ass nigga, you in shit, for fightin' over bitches
You call that a player?
Straight-ass sissy
See me at my show nigga miss me
Cause I ain't tryin' to hear that bullshit
Got a pistol motherfucker try to pull quick
And just cause i'm rappin don't mean I ain't scrappin
And if you clip when the shit happens, it don't stop

[chorus] Shit don't stop...

[Y.N.V]
Now my guess is true
Them thug life niggas is a bull
Everywhere we go
The niggas trippin at the door
I want to dance with you
You can dance at the party and not get whipped [1x]

[Macadoshis]
See the shit don't stop
My 9 goes pop
Your body drip-drop
Throw that ass in a zip-loc

[Rated R]
Now you've been hauled away in a body bag
Get your Sammy D said how your blood got sneeze me

[Macadoshis]
Yo you fuckin' with a thug yo your ass gets plugged
With this hollow-point slugs
With ya under the rug

[Rated R]
That's why my deaf niggas don't play that shit
In thug life niggas be the craziest

[Macadoshis]
So when you think about fuckin' this
You better wear a vest
But it really don't matter
We ain't aimin' at your chest

[Rated R]
Nah we blowin holes in your motherfuckin' skull
Make sure your ass is smoked
That's all the fat lady wrote

[Macadoshis]
You heard that fat bitch sing when my shit went bang-bang
But it don't pay when i flaunt your brain

[Rated R]
Nigga, ain't no plain cane brothers come no show
In the casket
Git'n they ass kicked
And blasted

It don't stop

[chorus 1x]

[Mopreme]
All I wanna do is try to Mac the hoes
Spin bank on thangs sellin me a sponsor on my foes
It's like each and every one they got the look of death
I got my 9 nigga
Don't be silly
You better watch your step

[Syke]
And pussies we crossin when my crew is flossin'
Bitches we tossin'
And niggas we crossin'
It's like a murder rhyme when we hit your hood
It's all good
The punks? I wish you would!

[Mopreme]
Wouldn't better to just corrolate what we bust
Instead of kickin' dust
Gets a press y'all from nuts
Cause ain't no herbs here
And ain't no morgues
Beware of the water 'cause they full of sharks

[Syke]
But in every state
Niggas perpetrate and test
Where I come from fools die for less
And thugs keep thugin' till their casket drop
It's on 'till I die
And the shit don't stop

[chorus 2x]

[ 2PAC LYRICS at www.AZLyrics.com ]

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Response by bobbycomm1
about 15 years ago
Posts: 7
Member since: Oct 2010

alanhart
14 minutes ago
ignore this person
report abuse There will be what there always is at midterm elections, a swing towards the opposition. Dog bites man.

Bing Search for Alan Hart:
Alan Hart
At last somebody has said it in the most explicit way possible. The somebody also said: “The problem is Zionism and the solution is dismantling the Zionist framework and ...
www.alanhart.net ·

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

My other favorite song wbottom enjoy it also.. Music is great.Beatles
Lennon/McCartney

Love, love, love, love, love, love, love, love, love.
There's nothing you can do that can't be done.
Nothing you can sing that can't be sung.
Nothing you can say but you can learn how to play the game
It's easy.
There's nothing you can make that can't be made.
No one you can save that can't be saved.
Nothing you can do but you can learn how to be you
in time - It's easy.

All you need is love, all you need is love,
All you need is love, love, love is all you need.
Love, love, love, love, love, love, love, love, love.
All you need is love, all you need is love,
All you need is love, love, love is all you need.
There's nothing you can know that isn't known.
Nothing you can see that isn't shown.
Nowhere you can be that isn't where you're meant to be.
It's easy.
All you need is love, all you need is love,
All you need is love, love, love is all you need.
All you need is love (all together now)
All you need is love (everybody)
All you need is love, love, love is all you need.

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

barny frank will lose Tuesday, it will be a democratic slaughter.

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Response by LICComment
about 15 years ago
Posts: 3610
Member since: Dec 2007

He is not crazy because liberal voters kept electing him? Very faulty logic.

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Response by julialg
about 15 years ago
Posts: 1297
Member since: Jan 2010

'Massacre'
Thursday, 28 Oct 2010 12:16 PM Article Font Size
By: David A. Patten

The magnitude of the GOP wave on Nov. 2 remains unknown, but one harsh reality is already crashing in on moderate and conservative congressional Democrats: Blue dogs are expected to become an endangered species after Nov. 2.

MSNBC analyst, columnist, and author Patrick J. Buchanan recently used the term "massacre" to describe the fate that awaits members of the Blue Dog Coalition.

Democratic pollster and Fox News commentator Douglas Schoen tells Newsmax that blue dogs face electoral "carnage."

And respected political analyst Charlie Cook says that the next blue dog meeting can be held in "a really small room" — meaning there won't be many of them left.

Editor's Note: See "Profiles in Courage: 10 Democrats Opposing Obama"

That blue dog ranks would suffer major losses this Election Day may seem somewhat counterintuitive. After all, many of them voted against healthcare reform, energy cap & trade, and other elements of the Obama agenda that grass-roots conservatives found so objectionable.

This midterm, however, the blunt truths of politics are expected to outweigh nuanced votes cast on the floor of the House.

"My belief is that most of the blue dogs will be euthanized on Tuesday, and the kennels will fall silent," conservative columnist and author Patrick J. Buchanan tells Newsmax.

One reason it's open season on relatively conservative Democrats: The party expanded base in Congress by recruiting candidates from traditional GOP strongholds like Georgia, Alabama, and Tennessee.

This year, the Republican enthusiasm edge is expected to spur strong GOP turnout in those districts. And that's very bad news for middle-of-the-road Democrats who find themselves wearing the wrong color jerseys this year.
Consider that according to RealClearPolitics, of the 65 members of the Blue Dog Coalition, 12 have races rated as "toss ups," and 14 more are listed as likely to swing to the GOP.

That means 40 percent of blue dogs are very susceptible to defeat on Nov. 2.

The poster child for this year's blue-dog dilemma is South Dakota Rep. Stephanie Herseth Sandlin.

Two years ago, she won her race going away with 68 percent of the vote. In Congress, she voted against healthcare reform and energy cap & trade.
This year, however, she's in a fight for her life against GOP challenger Kristi Noem. Some polls show Noem leading by as much as 5 points. Others indicate Herseth Sandlin is up by as much as 3 points. The race is too close to call.

The pressure is so great this year that some moderate Democrats are running ads touting their opposition to healthcare reform. Others are trying to assuage voters' ire by pledging not to vote for Nancy Pelosi to return as House Speaker, if Democrats somehow hold on to the majority.

"I expect carnage, serious carnage," Democratic pollster and Fox News contributor Douglas Schoen tells Newsmax, who says if current trends continue the GOP will gain 55 to 60 seats on Election Day.

Buchanan asked political guru Charlie Cook on MSNBC's Morning Joe just how bad things look for the blue dogs.

Cook response: "I think the blue dogs — and I think that they play a very positive role in this Congress — but I think they're going to be able to have their meetings in a really small room once this is all over with. They're going to be more than 'blue dog' singular, but there aren't going to be very many of them."

The semi-demise of the blue dogs this cycle could well have a major impact on the remainder of President Obama's presidency. Without its moderates, the gravitational pull of the Democratic caucus will be that much stronger to the left. That could make it difficult for President Obama to strike deals with the more right-leaning Republicans in the 112th Congress.

"The question I would have," Cook said on MSNBC, "is even if [Ohio Rep. John] Boehner and [Maryland Democrat Steny] Hoyer sat down together and tried to work out an arrangement, I'm not sure either one of them could make their deal stick within their caucus. Because the Republican caucus is going to be a heck of a lot more conservative than Boehner, and the Democratic one a lot more liberal than Steny Hoyer. And then the president is down at the other end of the avenue."

Buchanan tells Newsmax that minus the blue dogs, the chances for compromises with the Obama administration look slim.

"The Democratic Party in the House will be a bruised, battered and bitter party, more liberal than it is today, a scorched party which will not be amenable to compromises with an exultant right-wing and tea party Republicans, who want to take an ax to social programs that are the pride of the Democratic Party.

"The anger and nastiness of the 2010 campaign will, I think, endure into the New Year. MSNBC and Fox will not be smoking peace pipes anytime soon," he says.

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