This is true, look at 1995-2000 under Clinton, arguably as fiscally conservative as Bush. I am quite conservative but you can't cut your way out of this nor will drastic changes keep this weak excuse for a recovery going. I think at the end of 2013 the Clinton tax rates should come back and even more progressivity could possibly be added to exceptionally high earners (get rid of any deductions) and less ridiculous deductions for those that don't pay shit need to go away. I'm sorry but not paying anything is not ok. I paid when I made $6.75/hr and didn't get all of it back in a refund by any stretch so why should all these other people? Also, minimum wage needs to go up again and coporate tax deductions needs to almost all go away and the rate should come down to 25% with a very short amnesty period allowing companies to on shore money at little to know expense. After that, make it an expensive proposition so sending jobs overseas is not a smart plan. You can be fiscally conservative, grow an economy and wealth without having to lower taxes so low you collect no revenue. The trickle down theory sounds great, it doesn't work, I can read the facts and as sexy as it sounds to say taxes are going to drop, it won't solve our problems in the long run.
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This is true, look at 1995-2000 under Clinton, arguably as fiscally conservative as Bush. I am quite conservative but you can't cut your way out of this nor will drastic changes keep this weak excuse for a recovery going. I think at the end of 2013 the Clinton tax rates should come back and even more progressivity could possibly be added to exceptionally high earners (get rid of any deductions) and less ridiculous deductions for those that don't pay shit need to go away. I'm sorry but not paying anything is not ok. I paid when I made $6.75/hr and didn't get all of it back in a refund by any stretch so why should all these other people? Also, minimum wage needs to go up again and coporate tax deductions needs to almost all go away and the rate should come down to 25% with a very short amnesty period allowing companies to on shore money at little to know expense. After that, make it an expensive proposition so sending jobs overseas is not a smart plan. You can be fiscally conservative, grow an economy and wealth without having to lower taxes so low you collect no revenue. The trickle down theory sounds great, it doesn't work, I can read the facts and as sexy as it sounds to say taxes are going to drop, it won't solve our problems in the long run.
as corporate taxes and taxes on capital have decreased the past 40 years the mean unemployment rate has increased. this is also not taking into account the number of jobs that have been off-shored which are not counted.
Civilian Unemployment Rate (UNRATE) - FRED - St. Louis Fed
* here is a good read from Joseph Stiglitz
Joseph Stiglitz:
* and here is a paper from Princeton that explains how the unemployment situation has gotten progressively worst after each recession since 1984.
http://dataspace.princeton.edu/jspui/bitstream/88435/dsp01kw52j8087/1/564.pdf
* and another piece from Stiglitz
http://www.goodreads.com/author/show/6426.Joseph_E_Stiglitz/blog
And the media all benefit from the rhetoric so it will never change... for profit news is really impartial.
Agree with most, absolutely no amnesty. All they'll do is chuck it in the bank, how does that benefit the economy?. I may be for some sort of give and take on that, i.e., amnesty equivalent to 50% of any money that is spent on salaries for hiring new workers here, that way we are at least getting something for it. In other words, if they hire someone at $60k, they can bring back $30k free of charge. Just blindly giving them amnesty with no strings attached will cause them to do the same thing they did last time, pocket that shit and give the economy a nice little fuck you very much.
irish_2003
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LAM is so financially smart and successful that he has time to post arguments for the wacko liberal lefties on a bodybuilding and steroid forum all day...
LAM is so financially smart and successful that he has time to post arguments for the wacko liberal lefties on a bodybuilding and steroid forum all day...
all of the economic analysis that I have given in past years from 2009 to date are exactly the same as all of the leading economists in the OECD, rest of the world and recent nobel prize winners. the wackos are those on the far right, still trying to use "economic theory" written by Adam Smith and the like from the 1700 & 1800's in a 2012 economy.
analyzing data is what I do for a living and have done for decades.
The limited government mentality wants to say no strings but I don't trust them, it should be brought in and they should have to file something to show where it goes. If it is re-invested into PPE, hiring people or existing projects in the US it should be fine. If it goes into the bank it should be taxed a nominal amount (15% is capital gains rate) to motivate them to do shit with it. If you aren't putting it to work why bring it over, right?
Good stuff. I don't want to believe a lot of the facts and I don't agree with a lot about overly large and involved government BUT I do see from all the data that there needs to be a progressive tax code and corporations should never NOT pay taxes (fuck your Verizon and Wells Fargo). I am going to give these a read tonight before I crash.
I think those unemployment rates are as false as the inflation rate; way too easy to manipulate. So many gave up looking and are underemployed I just double the 8.2% and then I can see that as accurate. I could be off base but I have heard some learned economists (In the Economist that I get) say that exact thing.
LAM is so financially smart and successful that he has time to post arguments for the wacko liberal lefties on a bodybuilding and steroid forum all day...
Irish I don't like Barry one bit, he was ill-prepared and I question his actions and motives daily. That said, the ultra-right are as scary. We need a centrist President that can unite congress [and the country that is tearing itself apart], not divide it. We don't have that now and if Romney has a prayer of winning, not just the Presidency, but the faith of the American people, he will have to be the same centrist governor he was in Massachusetts. So many things have me convinced Barry needs to go and that ship has sailed for me, now it is a matter of making sure the far right don't fuck it all up when we get the Presidency and House back. If they don't, conservatives will lose the house and senate in the mid-term and shit all will get done putting the country and more risk which we cannot afford. Romney can say what he wants to get elected, even if he has to make some promises he doesn't keep like those on taxes, and then make some hard decisions that are for the good of the country. The best thing I have heard so far is a Republican finally gets that we cannot slice a massive chunk out of the budget and hope this recovery continues; he said otherwise on meet the press this Sunday which is very comforting. I get the feeling this will fall on deaf ears but if you like the America that once was, you will support this. Take a look at the tax code from 1950-1970, you would be shocked how high they were and the country prospered (I know this from all the people that lived then and told me). You can't have a government that polices the world and pays for thousands of domestic programs on a 25% maximum tax rate, a 5th grader can do the math to prove that wrong.
Six companies control all the media in the US. It's in their best (financial) interests to keep us in the dark, keep us voting for the same scumbags again and again. Vote republican or democrat, what we get is going to be the same.
* the 2 biggest problems are inflation which is used to decrease the amount of past federal debt and wages
Cumulative Inflation by Decade
http://www.caseyresearch.com/live-assets/images/lp/tcr/72h-inflation.gif
and the 2nd one is right here
"A typical full-time male worker receives the same income today he did a third of a century ago."
From The Price of Inequality: Joseph Stiglitz on the 1 Percent Problem | Politics | Vanity Fair
The only position a GOP candidate can tweak the tax code is president. Grover can't do anything if the president breaks the tax pledge, it's not like he could get another GOP candidate to run against him like he can with any other elected official.
I view that guy as a terrorist to the American way of life. How did he get so powerful all these elected officials bow to him? It disgusts me and he should literally be ex-communicated from the country. He would go over great in North Korea for target practice.
