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Im Libertarian. I don't like either, but it's well known to anyone with two brain cells that the dems are about massive government, and pure control over the sheep. And yes, both parties have sadly forgotten that they serve us, not visa versa. None the less, the dems are the worst for America. I'll be voting Libertarian, and for republicans in November. I wouldn't be caught dead voting for today's nazi democrat!
And how exactly is libertarian economic ideology (since it contains no actually mathematical models) any better if it does nothing to prevent the revolving door between the Hill and the private sector? How does it prevent the oligarchy from forming when it already has? the financializaiton of the the U.S economy 198's is proof positive of that so "some how" it would reverse the effects of this? Would it reverse the effects of decades of maximizing shareholder value and disinvestment in the country? Would it reverse Citizen's United? Would it remove private capital from the public election cycle?
or not....
I rarely go to Wal-Mart, but yes I do about 1-2 times per year.
Do you ever notice most of the cashiers on these low wages, supplemented by Medicaid have accents?
They are from the Middle East and Latin America.
Immigration, legal and illegal is good for keeping wages down by having a large pool and oversupply of people who will do these low-paying jobs.
Keeps wages low.
so anyone with an accent has only takes low paying jobs? don't you think that's kind of a racist comment?
I hope - and - assume - you are joking.
If you are not joking (which I think you are):
Accents are not related to race. Accent is a linguistic term.
it's called free market capitalism, something you know nothing about because you were taught keynesian economics your entire life and know nothing more.
you need to get your head out of the sand and open your mind to other options as Keynesian economics has been a complete failure. why is it you think govt is the answer to all the countries problems? It's govt that's the problem, open your eyes it's not too hard to see......
There is no such thing as free markets and contrary to conservative ideology, there is no such thing as a free market that is wholly divorced from laws, regulation and government. The market, as it exists, is a function of those property rights that were modified to exclude communal rights. The legal infrastructure of capitalism is what separates ownership from labor, and turns the marketplace into an inherently "owner friendly" institution.
The rules that dictate the marketplace are in a constant state of flux, they are not static and never have been. A perfect example would be Glass–Steagall Act which created the separation of commercial and investment banking. First it was legal, then made illegal then legalized again.
If you feel the need to debate this topic in more detail please post a link to the document that specifies the laws and rules which specify this mythological "free market" and who created them and the dates that this non-existent document was utilized.
Never in a single post have I championed for Keynesian economics its principles are however the most widely used in the U.S since the Great Depression. Keynesian economic principles were also utilized over the greatest economic expansion in U.S history during the progressive era.
free markets were never divorced from law. not sure where you come up with that. you obviously can't kill people or steal from them. we have the court system for people who want to sue a company for whatever reason they choose
you have championed Keynesian econ. for example: you have always said the stimulus was not big enough. you think govt spending borrowed money can create a sustainable economy. it never has worked and never will.
the economic expansion you speak of was because we had less taxation, regulation, rules, inflation and a smaller govt.
We also had the world's greatest manufacturing based economy and a population that was 60% smaller and a financial sector that actually worked for the people and not the inverse, the Brenton Woods system was still in use, US large firms invested plenty of capital back into the real economy place and infrastructure spending was seen as "good debt".
So pretty much an economy that was that functioned the exact opposite of the one today.
Stiglitz said time and time again that the original stimulus was too small..
http://www.democracynow.org/2010/2/18/nobel_economist_joseph_stiglitz_on_obamas
"the economic expansion you speak of was because we had less taxation"
Well that's not what historical data shows when you look at the percentages and sources of taxation post WWII.
Table 2.3—Receipts by Source as Percentages of GDP: 1934–2019
http://www.whitehouse.gov/sites/default/files/omb/budget/fy2015/assets/hist02z3.xls
"a smaller govt. "
the size of government grows as the economy of a country becomes more open, this has been seen in every single country in the world. So please explain how the U.S with a large open economy AND many large firms accomplishes this. When large firms are dependent on big government, it's why there are no large firms or MNE's seen in any country in the world with a closed economy or small government.
that chart shows nothing of value.
companies and people paid less in taxes then, than they do today. you failed to address the less rules and regulations.
the size of govt doesn't have to grow with the economy. the govt has no authority to manage the economy. large firms need not to be dependent on govt. And if they need big govt to survive then they should fail. we had a smaller govt. and great economy. From 1870-1910 was one of the best economic times the US has ever had.
who cares what Stigliz says. economists are wrong most of the time. the stimulus has been a failure and now they have to make up excuses for why it didn't work.
From 1870-1910 was one of the best economic times the US has ever had.
LAM: bong or joint?
LOL at your claim of "over-taxation" of US large firms.
Tax Avoidance in Silicon Valley,
and How America’s Richest Company
Pays a Lower Tax Rate than You Do
http://www.cob.calpoly.edu/wp-content/blogs.dir/1/files/2010/03/Tax-Avoidance-in-Silicon-Valley.pdf
US tech firms make eleventh-hour attempt to halt tax avoidance reforms
http://www.theguardian.com/business/2014/jan/19/tech-firms-attempt-halt-tax-avoidance-reforms
Fighting tax evasion
http://www.oecd.org/ctp/fightingtaxevasion.htm
WP 2009-5 Financialization and the Dynamics of Offshoring in the U.S
http://www.economicpolicyresearch.o...nancial_crisis/SCEPA_Working_Paper_2009-5.pdf
"In sum, financialization and globalization have reinforced each other for U.S. corporations and, despite the corporate sector’s contribution to national savings over the past decade, the offshoring-financialization linkage reduces the capacity of non-financial corporations to act as a driver of the recovery from the economic crisis that emerged in 2008. Having moved into core competence beginning in the early 1990s as part of the financialization process, U.S. corporations are today ill-equipped to serve as the driver of the recovery from the economic crisis that emerged in 2008."
The United States has the worlds highest corporate tax rate. I don't blame the companies one bit for trying to avoid paying the highest tax rates in the world. They shouldn't even be taxed at all.
The United States has the worlds highest corporate tax rate. I don't blame the companies one bit for trying to avoid paying the highest tax rates in the world. They shouldn't even be taxed at all.
Corporations just have many lawyers to find the tax loopholes, like having a headquarters in the Cayman Islands, or some BS. They also take advantage of tax benefits like accelerated depreciation (approved by Congress paid for by corporate lobbyists). Want all of this to change, ban all lobbyists from Washington DC. Make it a capital offense to accept a bribe, not just a slap on the wrist... public executions of government officials on the take.
It would be nice to see all that offshore money come back some day. I have heard it is as high as 3 trillion dollars that can be repatriated if the taxes were lower.
The 2004 Tax Holiday along with the past 30+ years tells us what would happen, more stock share buy-backs and jobs off-shored. Maximizing shareholder value takes precedence over long term investments, it's a viscous downward spiral.
Even now profits are up but capital spending is down, large companies are eager to spend cash on immediate IRR opportunities such as dividends, stock buybacks, and to a lesser extent M&A, than on longer-term, higher IRR, but less immediate bang for the buck opportunities, such as capital reinvestment.
Small firms can't afford to invest due to weak demand which stems from the loss of home wealth (home equity) the extraction of which fueled economic growth the last decade. US household are still deleveraging from record levels of debt but via defaults not by repayment. Households are going to take on pre-recession levels of debt again since housing price dynamics have changed.
http://research.stlouisfed.org/fred2/series/HDTGPDUSQ163N