A consumption tax I can unreservedly support

#153
#153
the source of the graph is the Hoover Institute, the information contained on the graph is from the US Census Bureau.

regardless, how do you see this as a success story for Bretton Woods? The failure of the Community Reinvestment Act has proven that home ownership isn't necessarily a good thing.
 
#154
#154
MG1968 said:
the source of the graph is the Hoover Institute, the information contained on the graph is from the US Census Bureau.

regardless, how do you see this as a success story for Bretton Woods? The failure of the Community Reinvestment Act has proven that home ownership isn't necessarily a good thing.
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I'm not saying you are going there, MG, but IMHO, the CRA fracas is motivated by racism, and is an attempt to deflect attention away from the investment banks which were primarily responsible for the problem, as we have shown.

The facts is less than 20% of the subprime loans through the 2000s were made under the auspices of the CRA. In fact, the CRA has been widely acknowledged to have provided responsible lending to minorities.

Again, I'm not saying you are going there, but the crews pushing these myths have one of two agendas:

1. Deflect attention from the real culprits.
2. Nostalgia for the good ol' Jim Crow days.
 
#155
#155
nice, call me a racist without actually calling me a racist. That's a tactic generally reserved for intellectual lightweights like lawgator.
 
#156
#156
MG1968 said:
nice, call me a racist without actually calling me a racist. That's a tactic generally reserved for intellectual lightweights like lawgator.
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No, not at all.

I think some of the myths surrounding the CRA roll in the crisis do have a racist element to them. It is very possible though the majority of the myths are simply to deflect attention from the real culprits.

Clearly, with less than a fifth of the total subprime mortgages in play, the CRA was not primarily responsible for the crisis.

However, your point is not lost on me. After all, we are told ad infinitum that ownership = responsibility in our capitalist world. It's why we need to privatize everything, etc. Yet, anyone with neighbors know this is far from universally true.
 
#157
#157
utgibbs said:
I'm not saying you are going there, MG, but IMHO, the CRA fracas is motivated by racism, and is an attempt to deflect attention away from the investment banks which were primarily responsible for the problem, as we have shown.

The facts is less than 20% of the subprime loans through the 2000s were made under the auspices of the CRA. In fact, the CRA has been widely acknowledged to have provided responsible lending to minorities.

Again, I'm not saying you are going there, but the crews pushing these myths have one of two agendas:

1. Deflect attention from the real culprits.
2. Nostalgia for the good ol' Jim Crow days.
Click to expand...

unbelievable garbage
 
#158
#158
utgibbs said:
There are a variety of sources on the disparity in America.

Here is one I thought might be of real interest (comparing the real world to those value beliefs [otherwise known as myths] we often hold dear):

wealthChart2.jpg


Generally the data is put into quintiles, so my default is the top quintile. However, this masks what is really happening. In fact, the top 1% of that quintile has BY FAR the majority of everything.
Click to expand...

Continually mixing wealth and income makes you look like a bonehead.
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#159
#159
I have not and never will actively support any tax! Why would I want to give away my money!

If you want to give away your money, give it to me.

NOTAX.jpg
 
#165
#165
utgibbs said:
Ah, so the "teacher" admits he doesn't know history:

Bretton Woods system - Wikipedia, the free encyclopedia

1. Tariffs and industry protection; capital flight barriers
2. Protection of unions and bargaining power of labor (keeping wages in line with productivity gains)
3. No fiat currency
4. Strong government intervention policy in the economy (Government as GDP 1960 - 69 22.4%, 1980s 20.6%, 1990s 18.6% - NIPA)
5. Minimum wage set above poverty line
6. Debt-fuelled consumption much smaller piece of GDP (1960s 61.4%, 1980s 64.5%, 1990s 67% - NIPA)
7. More progressive tax structure
8. Enactment of Civil Rights Legislation

I'll stop at eight, but there are many more. I'd like a line item assessment of my "grade" please. And also:

GDP real growth:

1960s 4.4%
1970s 3.3%
1980s 2.9%
1990s 3.2%

Productivity growth:

1960s 2.8%
1970s 1.9%
1980s 1.4%
1990s 2.0%

(NIPA)

That's not "conjecture" - that's what happened in the real world outside the back door.

Game, Set, and Match. :hi:
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Still waiting on my report card, "teacher." Let me read you your score:

Mr. IPOrange, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.
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