Debt Limit Bottom Line

#101
#101
volinbham said:
Currently reading a book called World 3.0 by Pankaj Ghemawat. Assume it will have a take on this but I haven't gotten very far.

Most interesting so far is the debunking of how much globalization has occurred. On virtually every metric, economies are vastly national not international.
Click to expand...

It's not hard to argue that this "rising real wages" mentality, whereby one must get raises regularly for similar work, has priced American labor out of the market to the point that we have no option but to look overseas.

It's one of the few ways to move our standard of living back to the point that the average American can afford to be American.
 
#102
#102
lawgator1 said:
I don't "blame" the top for anything other than for jealousy guarding their status at the top by manipulation of the taxation system so as to perpetuate their position.

And, in my view outsourcing has two faces. One is cheaper labor overseas in the developing countries. Second is the fact of faster communications and processing, and that's affecting commerce and the need for workers all over the globe.

Its no one's "fault." Its all inevitable, if you think about it. But taking a step back if you ask me whether I think that maintaining the Bush tax breaks for the wealthiest, or actually giving them more tax breaks, will help or hurt, my answer is that there is absolutely no reason to think it will help in any meaningful way, whereas we know for a fact that it increases the debt.
Click to expand...

Its caused capital flight and more squeeze on the middle class than ever before.

??????

middle class got tax cuts as well. and last time i checked we have a progressive tax system.
 
#103
#103
American corporations are sitting on huge war chests of profit and capital. The top income earners are making more now, than ever before. The financial industry is rewarding top execs with annual bonuses that any of us could live on for our entire lives.

Why aren't they making capital investments ? Why aren't they expanding and hiring?

The popular answer from the GOP is "uncertainty." Uncertainty over taxation, uncertainty over health care costs, etc.

The REAL answer is that they don't feel safe in terms of demand. They can't comfortably predict sales and revenue on new products or expansion involving old ones.

I don't know how we cure that, exactly, but let's stop fooling ourselves that they aren't hiring new workers or opening new plants because their taxes are too high. That's nonsense.
 
#104
#104
why are the "rich" viewed as some monolithic group? the membership changes - it's not just the same old group of white guys year after year.
 
#105
#105
It's equally nonsensical to ignore the impact incremental taxes would have on corporate mindsets, especially in light of your comment on predictability of revenues.
 
#106
#106
lawgator1 said:
The REAL answer is that they don't feel safe in terms of demand. They can't comfortably predict sales and revenue on new products or expansion involving old ones.

due to massive uncertainty on what this administration will do to the economy (particularly via tax code, epa, labor and health care)

I don't know how we cure that, exactly, but let's stop fooling ourselves that they aren't hiring new workers or opening new plants because their taxes are too high. That's nonsense.
Click to expand...

it is the volatility in what will happen to their taxes along with the other uncertainty items mentioned above.

set the rules and let them go
 
#107
#107
lawgator1 said:
I don't know how we cure that, exactly, but let's stop fooling ourselves that they aren't hiring new workers or opening new plants because their taxes are too high. That's nonsense.
Click to expand...

then why have people moved operations overseas to high labor cost, but low tax countries like ireland? see google.
 
#109
#109
"I will not sign a 30-day or a 60-day or a 90-day extension. That is just not an acceptable approach. And if we think it's hard now, imagine how these guys are going to be thinking six months from now in the middle of election season when they are all up. It's not going to get easier, it's going to get harder. So, we might as well do it now. Pull off the band-aid. Eat our peas. Now is the time to do it. If not now, when? We keep on talking about this stuff, and we have these high-minded pronouncements about how we've got to get control of the deficit, how we owe it to our children and our grandchildren. Well, let's step up. Let's do it," President Obama said at his press conference today.
Click to expand...

-Mr Pres
 
#110
#110
i love when he talks about how he can afford to pay more taxes so therefore other rich people can. you know the guy who get's his food, housing, and transportation all payed for by the american taxpayer.
 
#112
#112
watched the whole thing - he had some good points then fell back into the partisan crap.

worst was when he talked about how some Dems were against some of the deal because their core values are to help poor people (etc. etc.). Apparently Reps hate them since these are not what drives their decision making. Later he said Reps shouldn't demonize Dems or question their motives. More classic double speak from the Prez - question the motives of your opponent then chastise your opponent for questioning your motives. Awesome.
 
#113
#113
Good times ahead...Washington's Blog Sunday, July 10, 2011
Geithner: "[For A Lot of People] It's Going to Feel Very Hard, Harder than Anything They've Experienced in Their Lifetime Now, For a Long Time to Come"
 
#115
#115
volinbham said:
watched the whole thing - he had some good points then fell back into the partisan crap.

worst was when he talked about how some Dems were against some of the deal because their core values are to help poor people (etc. etc.). Apparently Reps hate them since these are not what drives their decision making. Later he said Reps shouldn't demonize Dems or question their motives. More classic double speak from the Prez - question the motives of your opponent then chastise your opponent for questioning your motives. Awesome.
Click to expand...

I hate partisan crap. Wish politicians could argue the issues without pointing fingers at each other.
 
#117
#117
obama also doubled down on the whole "the average American doesn't pay attention to aggregate economic information". In answering a question about why the public is against raising the debt ceiling he said they don't spend time thinking about it in depth and they shouldn't; that's what the folks in Washington get paid to do.

He then suggested if the poll questions were asked differently (and gave a ridiculous version of the question that ended with if we don't raise the debt ceiling we'll have another recession) then the majority would be on his side. Once again, the public just doesn't understand the issue.
 
#119
#119
volinbham said:
obama also doubled down on the whole "the average American doesn't pay attention to aggregate economic information". In answering a question about why the public is against raising the debt ceiling he said they don't spend time thinking about it in depth and they shouldn't; that's what the folks in Washington get paid to do.

He then suggested if the poll questions were asked differently (and gave a ridiculous version of the question that ended with if we don't raise the debt ceiling we'll have another recession) then the majority would be on his side. Once again, the public just doesn't understand the issue.
Click to expand...

Well, he is partly correct...most of us are stupid.
 
#120
#120
volinbham said:
obama also doubled down on the whole "the average American doesn't pay attention to aggregate economic information". In answering a question about why the public is against raising the debt ceiling he said they don't spend time thinking about it in depth and they shouldn't; that's what the folks in Washington get paid to do.

He then suggested if the poll questions were asked differently (and gave a ridiculous version of the question that ended with if we don't raise the debt ceiling we'll have another recession) then the majority would be on his side. Once again, the public just doesn't understand the issue.
Click to expand...

well he can afford higher taxes so surely all those other rich *******s who get their food, lodging, and transportation paid for by the american taxpayer can afford it as well.
 
#121
#121
droski said:
well he can afford higher taxes so surely all those other rich *******s who get their food, lodging, and transportation paid for by the american taxpayer can afford it as well.
Click to expand...

he also said he doesn't need another 100,000 bucks.

well, that seals it for me. Let's decide how much money is enough then set that as the top earning limit. All other earnings are property of the USA.
 
New posts
You must log in or register to reply here.

VN Store



Back
Top