The Truth About the Economy
- Thread starter signalmankenneth
- Start date
G
Guns Guns Guns
Guest
The large fiscal stimulus enacted in 2009 was not "paid for."
Yet it has been claimed that it created essentially no jobs.
Really?
With spending under the Recovery Act exceeding $600 billion (and tax cuts exceeding $200 billion), that would be quite a trick.
How in the world could all that spending, accompanied by tax cuts, fail to raise employment?
In fact, according to Congressional Budget Office estimates, the stimulus's effect on employment in 2010 was at least 1.3 million net new jobs, and perhaps as many as 3.3 million.
http://online.wsj.com/article/SB10001424052702303635604576392023187860688.html
Yet it has been claimed that it created essentially no jobs.
Really?
With spending under the Recovery Act exceeding $600 billion (and tax cuts exceeding $200 billion), that would be quite a trick.
How in the world could all that spending, accompanied by tax cuts, fail to raise employment?
In fact, according to Congressional Budget Office estimates, the stimulus's effect on employment in 2010 was at least 1.3 million net new jobs, and perhaps as many as 3.3 million.
http://online.wsj.com/article/SB10001424052702303635604576392023187860688.html
apple0154
MEOW
I liked the video. Short, to the point and accurate.
Cancel 2018. 3
<-- sched 2, MJ sched 1
what is your solution kenneth? to tax the rich and then give the money to the government to create jobs?
G
Guns Guns Guns
Guest
You may view any particular public-spending program as wasteful, inefficient, leading to "big government" or objectionable on some other grounds.
But if it's not financed with higher taxes, and if it doesn't drive up interest rates, it's hard to see how it can destroy jobs.
http://online.wsj.com/article/SB10001424052702303635604576392023187860688.html
But if it's not financed with higher taxes, and if it doesn't drive up interest rates, it's hard to see how it can destroy jobs.
http://online.wsj.com/article/SB10001424052702303635604576392023187860688.html
There were only six points. You really couldn't follow them?
Cancel 2018. 3
<-- sched 2, MJ sched 1
i can't play the video....
why don't you tell me what the six points are groan king...and are you saying that whatever the points in the video are those are your solutions as well? or are you here to just attack and whine about groans? when you tell me what the six points are, i will address them.
Cancel 2018. 3
<-- sched 2, MJ sched 1
1. because i can't
2. did i comment or ask a question mr. edumucated dune?
3. why did you have to be a dick, instead of merely listing off the six points?
4. why are you even commenting in this thread, you aren't discussing politics, you're just being a dick?
like i said, i would be happy to discuss the six points instead of engaging in your childish games. up to you....you can be a dick, or you can simply list the six items and we can get into politics.
The video has Robert Reich who gives these points:
1. Economy doubles, wages are flat adjusted to inflation.
2. All the gains go to the super rich. Top 1% used to get 10% of total, now it takes in 20%...
3. Money at the top, gives super rich political power. Before 1980 70% tax on super rich, now it is 35%, Cap gains are at 15% (much of their income) according to the IRS the richest 400 Americans pay only 17% tax.
4. Huge budget deficits. Tax revenues are down to 15% of the total economy, the lowest in 60 years.
5. Instead of joining together employees are "scared" and therefore they instead compete for scraps rather than joining unions...
6. Vast middle class can't borrow, therefore no purchasing power...
Conclusion. Strong middle class = Strong economy
1. Economy doubles, wages are flat adjusted to inflation.
2. All the gains go to the super rich. Top 1% used to get 10% of total, now it takes in 20%...
3. Money at the top, gives super rich political power. Before 1980 70% tax on super rich, now it is 35%, Cap gains are at 15% (much of their income) according to the IRS the richest 400 Americans pay only 17% tax.
4. Huge budget deficits. Tax revenues are down to 15% of the total economy, the lowest in 60 years.
5. Instead of joining together employees are "scared" and therefore they instead compete for scraps rather than joining unions...
6. Vast middle class can't borrow, therefore no purchasing power...
Conclusion. Strong middle class = Strong economy
Cancel 2018. 3
<-- sched 2, MJ sched 1
his conclusion correct, however, his analysis is not. i think this is why dune was afraid to post the points, because then he would have to debate them.
1. what exactly his is point? that this is happening now?
2. that isn't all the gains, so incorrect analysis. no doubt we cannot have all gains go to a few.
3. the super rich have had political power in this country from day one. the tax break did nothing to change to change that. rather dumb point. especially given the tax writes offs etc.
4. yes, huge deficits. i would have to see more to comment on the latter point.
5. seriously, dumb comment and simply unfounded. many employees are sick and tired of unions and their bullying, taking their money and then INFLUENCING POLITICS as much as corporations and as powerful as the rich (if not more), given they can claim hundreds of millions of dollars to candidates and milions of voters.
6. if you can't borrow, you have no purchasing power????? where did this guy get his econ degree? maine
1. Why?
2. Yes
3. The way Damo listed them, they are out of context. Arguing them from his list is pointless.
4. I am trying to comment, but again, it is pointless since the topic is about the video, in context.
5. Why are you such an emo fag?
Cancel 2016.2
The Almighty
The only emo is you.... the way Damo listed them are EXACTLY as they were stated in the video. But do tell us what YOU seem to think is out of context.
The list:
1) Economy doubles since 1980, but wages are flat
2) All gains from the economy went to super rich who used to get 10% of total income and now get 20%
3) Before Reagan, top tax rate 70% now 35% with cap gains tax of 15% causing the 'richest' to pay an effective rate of 17%
4) Huge Budget deficits are a result of the above with revenues now at 15% of the economy
5) Middle class is divided pitting union vs. non-union against each other to fight for 'scraps' (which obviously is the other 80%)
6) Anemic recovery is due to the above... we must have a strong middle class.
2)
G
Guns Guns Guns
Guest
It is undeniable that we have a tremendous long-run deficit problem to deal with, and the sooner, the better.
So it appears we're caught in a dilemma.
We need both more spending (or lower taxes) to create jobs and less spending (or higher taxes) to tame the deficit monster.
http://online.wsj.com/article/SB10001424052702303635604576392023187860688.html
So it appears we're caught in a dilemma.
We need both more spending (or lower taxes) to create jobs and less spending (or higher taxes) to tame the deficit monster.
http://online.wsj.com/article/SB10001424052702303635604576392023187860688.html
Cancel 2018. 3
<-- sched 2, MJ sched 1
so you can't help yourself and stop being a dick....you lack the ability to post six simple points, yet, you have the ability to whine that damo's list is out of context, but, lack the ability to explain how by creating your own list of six points.
it is truly hilarious how you bitch about the fact i can't watch the video and how dumb i am because there are only six points, yet, you can't even explain what those six points are.
you've spent more time bitching about me, insulting, attacking, than you have discussing the thread. with the time you've spent bitching and insulting, you could have explained the six points and we would be discussing politics. think about it.
Sure it is exactly as they are listed, context comes from the surrounding information, surely you know that.
Briefly, what Damo left out;
2. The superrich now get more than 20%, not 20%. Additonaly, they now own 40% of the wealth of the nation.
4. Public services are being cut at all levels of government. (yesterday, New Hampshire slashed half of higher ed funding for example). Roads, bridges, levies etc. are all being sacrifice. School children are being crowded.
5. This is the one really taken out of context. It is not just union vs. nounion, but public vs. private, and native born vs. imigrant fighting over a few jobs, rather than working together to fight for higher wages.
6. Due to banks not lending, the vast middle class' spending power is greatly diminished, meaning a slower, jobless recovery.
Context is important, Emofreak.