Forum Post: Ruh Roh
Posted 11 years ago on April 8, 2013, 4:58 p.m. EST by Nationwide
(-93)
This content is user submitted and not an official statement
The Obama Administration tells us that the unemployment rate has declined from a peak of 10.0% all the way down to 7.6%. And they tell us that in March the unemployment rate fell by 0.1% even though only 88,000 jobs were added to the U.S. economy. But it takes at least 125,000 new jobs a month just to keep up with population growth. So how in the world are they coming up with these numbers? Well, the reality is that the entire decline in the unemployment rate over the past three years can be accounted for by the reduction in size of the labor force.
In other words, the Obama administration is getting unemployment to go down by pretending that millions upon millions of unemployed Americans simply do not want jobs anymore. We saw this once again in March. According to the U.S. Bureau of Labor Statistics, more than 600,000 Americans dropped out of the labor market during that month alone. That pushed the labor force participation rate down to 63.3%, which is the lowest it has been in more than 30 years.
If things were getting better, there would not be more than 101 million working age Americans without a job.
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http://www.motherjones.com/kevin-drum/2013/04/do-disability-payments-explain-why-people-are-leaving-labor-force
Does payment of unemployment insurance explain why people are unemployed? Now that people have lost their unemployment insurance payments, we have 'lowered' unemployment. Yea! It works like a charm -- it just takes imagination for a new creative perspective.
the real number is 90 million.
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http://www.zerohedge.com/news/2013-04-05/people-not-labor-force-soar-663000-90-million-labor-force-participation-rate-1979-le
Its based off of the BLS. The labor force is around 220 million I believe.
Voting for Dems and Reps for around 100 yrs straight will go down as the dumbest and most apathetic display of democracy the world has ever seen.
From 1st to worst faster than any nation on the planet, and still begging the very same two companies to save us.
Nice language. The percentage has been calculated the same way for years and now that you point it out that we have less children now, the results are even worse than first thought.
You have gotten everything you wanted. I thought the increase in tax rates was suppose to fix everything. Now it is the sequester. Please learn economics and forget your zany ideas.
Who do you think "nationwide"is? I mean their main ID?
I am and was completely against the bailouts. I think they all should have gone into reorganization. The only way to help people is get them a livelihood and we need growth. This does not come from govt spending.
Bailing out the top while cutting services to the bottom is perhaps one of the sickest things this country has done in the last 50 years - or up until dropping two nukes on Japan.
From an economics point of view federal revenues are quite low as a percentage of GDP, an adjustment to revenues would seem to be in order.
Low income wage earners have been carrying the federal government for the past couple of decades as Congress issued bonds and spent the Trust Funds to avoid letting the American people know how much the tax cuts were costing our children and grandchildren. Now that it is time to cash in those bonds some would tell us there's no money to do so, perhaps we should tell that to private trust funds holding government bonds first, as they have more to fall back on, socioeconomically speaking I mean.
Revenue as a percent of GDP is below the historical mean but this dependent on growth not tax rates as the number has been remarkably constant through history.
I am not sure how you can make your second statement as since 1980, the top group of income earners are paying a larger and larger share of the budget. The big change over the past 10 years is that more and more people are paying no federal income tax.
Top income people pay far less to the federal government than the percentage of the country they own, the top 5% own about 80% as I recall and pay in much less than 50%, because payroll counts too after all we do have an entitlements problem don't we? So that old trick of talking just about income taxes then telling us it's an entitlement problem don't work if you look at all revenue the wealthy pay very little compared to what they own.
For the past few decades the federal government has levied a low income tax and a high payroll tax causing the working class to carry the wealthy.
Whoa, are we discussing income or wealth?
The top 1% earned 22% of the national income and paid 40% of the Federal tax revenue.
Wealth is completely different than income as the money used to purchase wealth is after tax money.
Are you discussing the full payroll tax that the employee pays, the employer or both? The employee payroll tax is much lower than the income tax.
Oh and "Federal tax revenue" includes payroll tax but your numbers don't.
Or do we not have an "entitlement" problem after all?
Do you have any ideal how many people are being 1099'd in this economy?
People are getting 1099s for customer service like making appoints and collecting money for Christ's sake.
Well if you own a business among a few people and there';s an expense you share that according to how much of the business you own, so yes I'm talking wealth or in other words How much of the country do you own and are you paying your fair share?
Most people pay most of the money they send to Washington through the payroll tax.
When you own a business and you receive $10 of revenue and have $9 of expenses then there is $1 of profit which is distributed to the shareholders (assuming a simple pass through corp) and then they pay taxes as that money is considered income. That money is not wealth. You could then take the $1 (or .45 cents after tax) and reinvest back into the company by buying shares. What you own is considered wealth.
An employee's payroll tax just increased to 6.2% which is matched by the employer. I don't know what you are paying in income tax but I would love 6.2%.
So you never heard of the concept that all labor costs are born by the worker? How about 1099s have you heard of them? How much remedial economics do I need to go over with you? You do know that if Romney had not paid more than he had too in the years he showed us his effective tax rate would have been less than 5%.
So employer's don't pay any labor costs?
The cost to hire an employee is born by the employer. When the cost goes up, less workers are hired. I am not sure what point you are making with 1099's.
What's the issue with Romney. He is deferring his income via investments and donating a lot of money so what's wrong with that?
OK so you have worked in this economy lately? been at the same place for a while? or retire? well that's fine, people got lives, 1099s are the new way to make the employee pay the full cost of Social Security tax, lots of small business people doing that now, and yes the workers do the work and create the wealth, that's why it's called management, all goods come from those that toil, most of the bosses were born that way these days.
No doubting that there are more 1099 filers. They are now the employers.
If the workers create the wealth and know how to do it then why don't they start their own businesses?
By the way, nice tax rate by your man in the White House. Romney gives back to society and takes care of people while Obama doesn't.
Romney gives back? Obama gave a third to charity and it wasn't a kick back to his Church when he did it either, talk about a scam, no tax deduction for giving money money to people to spread your version of mythology that's an outrage.
The outrage is you would even question Romney. I am sure if I compare his accomplishments to yours there would be no contest. Obama has employed nobody. He has lived off affirmative action.
It's a scam to give to your church? So your an atheist. This country was founded by god fearing people. Take your immoral attitude and get out.
Romney did a good job picking his parents, and has added a little to his money pile, over his lifetime, with a bit better start he has put away about half of what Gore has over the past 12 years, not bad, considering my start in life, I would wager I've done much better than either of them though, but I was born well too, in my way. The thing I don't understand is why should I pay more in tax so you can tell people about how the number of wives God gave you once reflected His love, but now it don't.
romney... made ALL his money by buying up businesses .... forcing them into bankruptcy .... firing All the employees ...and selling off the remaining assets..... a Real Leader
Take a look at Obama's returns before he became prez. He was not nearly so generous. Only when he realized his taxes were now public did he crank up the giving. Hell, the amount he gave to charity was less than 1 hour of flight time on his taxpayer funded pleasure aircraft. Last 2 years he made TWO round trips to Hawaii (about 18 hrs rt @ $180k/hr.)
Hey sounds like you have something to say about how rich people spend their money, I do too, take a look:
http://occupywallst.org/forum/if-we-give-them-a-lower-tax-rate-dont-we-have-a-ri/
They have the death penalty in FL don't they? Zimmerman can get justice when they stick a needle in his arm.
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Who do you think "nationwide"is? I mean their main ID?
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Colonel Saunders.
so teens and 20 somethings don't work?
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101 million seemed a bit high. 65 million seems about right.
Its still pretty alarming though.
Free market policies are in place In more than half of the states. And they are the ones growing.
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Sure. Republicans are governors of 27 states right now. The unemployment rate in those states are lower than the Democratic controlled ones. The best example of this is Texas vs California or MY.
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This is so much fun because it is so easy. You guys on this board really need to start reading. From CNN:
A quick check of the governors' party affiliations shows 29 states with GOP governors, 20 states with Democratic governors, and one state headed by an independent. According to the Bureau of Labor Statistics' preliminary, seasonally adjusted data for July 2012, 7.84% of the civilian labor in the 29 states with Republican governors were unemployed (6,680,400 out of 85,155,600).
The same data set shows that 8.77% of the 20 states with Democratic governors were unemployed (6,032,500 out of 68,792,500). The national unemployment rate was 8.3%.
if it's easy... maybe u ain't getting it ....
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Go ahead, run a regression, I have.
How to get out of the current Great Depression
Before you can do any of these things you will need public campaign financing so that Congress actually reflects the will of the people. State government would need the same. A Constitutional Amendment could enforce this at all levels and guarantee the right to vote.
1 - Immediately raise the minimum wage to the level set in 1938, adjusted for inflation, about $11/hour. Over the next five years raise it to reflect real worker productivity of about $22/hour. Increase all government benefits to reflect the true cost living. Repeal all 'right to work' laws.
2 - Ramp up infrastructure spending until we reach full employment.
3 - Reinstate tariffs on anything we still make here and gradually reintroduce them on everything else.
4 - Make all higher education free and forgive all outstanding loans.
5 - Nationalize the Federal Reserve & seize all the 'too big to fail' banks. Establish a plan to replace all commercial banks with credit unions.
6 - Begin enforcing anti-trust laws. No national chain stores, period. No conglomerate companies. Make 80% of what Wall Street does illegal. Ban retirement money from being 'invested' in Wall Street Ponzi markets.
7 - Ban 'for profit' energy production. Put big Agri-business companies out of business. Introduce land reform and government support of small sustainable farming operations. Require farmers to join organized price contracting groups and put real teeth in them.
8 - A one time wealth tax on estates over a billion dollars. Reinstate inheritance taxes. Ban paying CEOs in stock, require boards to include workers.
There are a lot of other things to be done of course, but a real Congress that is elected by the people, not by lobbyists and big money donors could easily tackle these problems. When enough people know what the real questions are, then we can get real answers. http://www.prairie2.com/
And SPECIFICALLY how would YOU create more jobs?
Obviously, we need to cut taxes for job creators like bain capital and nra lobbies.
What else would you suggest?
Very simple. The Fed needs to come out and state what their process for money creation is be it a price rule, constant growth or the more recent GDP targeting. This would eliminate all of the currency games.
The best system would be to flatten the tax code, eliminate or cap all deductions and treat all income, w2, dividend, corporate, and cap gains the same. This would eliminate the corp subsidies, the NRA, the private equity and hedge funds but alas this will not happen.
alec & koch want a flat tax
They want things to stay right as they are: 76k pages of loopholes.
So. Do you want to help people or wage an idealist war.
Nationwide, I used to also believe that a flat tax would be an easy fix....
3000 years of experience is hard to refute. There is no new paradigm.
well... stop fucking off... and help us build one
It's coming. Follow the discussion on GDP targeting as a rule for monetary policy.
The foxes aren't going to lock themselves out of the hen house on their own. It's up to us to install the lock.
What jobs??
Really. What jobs?
You did gloss over that whole sequester thing too.
Just glossed it "right" over like it didn't matter.
That's the point, there are no jobs.
The sequester will help us as it will send a great message to investors that there are sane people in Congress that will limit spending. There is still concern over the tax side and people are nervous.
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Sorry Charlie. The sequester lay offs don't actually take effect until 30 days after. The truth is that the rate of job growth has been anemic. Why? This is your economy. You got your tax increase, healthcare, more regulation...
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Your man in the WH has had every chance to get his plans passed and he can't do it. He doesn't know what to do. You can't accept the facts that economies have to grow and government spending doesn't work. You can throw all of the profanities around that you want and get angrier but it doesn't change the facts. Your far out ideas don't work.
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And at the end of the war there was no other manufacturing competition. What happened as ssinclair as German and Japanese providers came back on line?
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Oh my you are so funny. Do you honestly believe that I get nervous by a weak bully like yourself. You can't debate a point so you resort to vulgarity and name calling. Reminds me of Obama.
Most of 'em went away during the Bush administration.
The sequester has fucked us.
It's actually killing people.
So fuck your bullshit.
People are nervous about feeding themselves and having a life.
So TAX the fuck out the people that are and have been ripping us off and shipping out jobs over seas.
WALLSTREET!!!
So the federal budget is $3.6 Trillion a year (or $3,600 Billion). The sequester cuts are $88 Billion this year.
That's LESS THAN a 1/36 cut in federal spending and it's killing people? Really?
My God man. T H I N K for yourself.
Yes, the sequester WILL KILL people.
http://occupywallst.org/forum/americans-for-prosperity-sequestration-will-help-e/
Try and keep up if you're going to pretend to be thinking for yourself.
Yes it will. So will voting in either of the war parties.
So I guess both of you two knuckleheads are guilty.
Obama and Romney supporters duking it out, while the entire thing goes to shit.
Being political, insulting and changing subjects, yet again??
That's your MO alright.
While we're changing subjects.
http://www.addictinginfo.org/2013/04/08/people-are-being-physically-beaten-so-we-can-save-money-at-walmart/
BTW, buying stuff from the Kochs makes you a warmonger too.
You sound like Republicans that tell me driving a car means you are against the environment. Dumb and desperate.
Deal with it.
another subject change???
While you pretend you're not a house flipper who buys stuff from the Kochs???
While we're changing subjects, here's another issue your good friends the (R)epelican'ts created.
http://thinkprogress.org/health/2013/04/08/1834261/mentally-ill-americans-medicaid/
They emptied out most of the State run facilities years ago, Reagan liked the idea, so Engler did it.
Which one did that in Florida?.
You're a mess dude.
One war loving hack arguing with anther sequester loving hack.
Exposing hypocrites is a full time job with you.
" I'm not running for anything, but if Murdock wants to give me some cash, I'll take it."
You are disgusting. Go vote for more war, more zionism and more globalism. They will hire you in a second.
Oh boy an insult!!!!!
You're the WAR loving hack that posts from the John Birch Society.
You bitch at me and ignore ALEC, Haliburton, Carlisle Group and so many, many more.
You are the ultimate political hack in fact.
You like the Kochs, for their wonderful products that help you flip houses.
Where were you in the days around here when your friends were blaming the crash on house flippers??
Oh yeah. You were bitching about the RNC not picking Ron Paul.
You really are disgusting all around disgusting.
??? Go drink your Metamucil, you have absolutely no clue what you are talking about.
You've created fairy tale in your head, and chased off god only knows how many people who were looking for something a bit deeper than DailyKos.
You mean like stuff from brietbart?
Like you post?
Or is it the stuff from the John Birch society??
Alex Jones perhaps?
You never did say what you think he is unassailable on, and you did say that he has important stuff on his site. Or did you forget you said that too.
Keep reaching you angry old bastard. That keyboard likes the abuse.
Some of us are active, some are just angry.
Still being insulting? It's all you've even had.
Besides, you did post that shit and you did say that.
So I guess it's you who's an angry something or other.
Why are you sending me that link, cut and paste queen? It does nothing to refute my position that the sequester will kill no one.
Yes it will.
You just have to actually read what 's in the link.
Are you afraid?
Chicken perhaps?
Read it, there's nothing there. Get a clue.
Short reading span then?
I'll hold your tiny little hand, just this one time.
After this, you can go puck a rubber.
And just for your sorry ass?
I'll even give to you from FLAKESnews. There's some things too obvious even for them to lie about.
http://www.foxnews.com/on-air/on-the-record/2013/04/05/cancer-clinics-turning-away-medicare-patients-thanks-sequester
Death by cancer.
How is medicare affected when BY YOUR SIDE'S OWN MANTRA, medicare isn't in the GENERAL FUND ?????????????????????
You're still not READING.
But I'm done holding your teeny, tiny little hand.
Read some more and don't post another thing until you do.
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/04/03/cancer-clinics-are-turning-away-thousands-of-medicare-patients-blame-the-sequester/
http://thinkprogress.org/health/2013/04/04/1819811/sequestration-cancer-clinics/
http://ehrintelligence.com/2013/04/08/cancer-clinics-denying-medicare-patients-due-to-sequester/
http://www.presstv.ir/usdetail/297447.html
Since I know you won't actually read any of it, that means I should never again see any posts from you.
Have a nice day...................:)
the dems have their mantra, and they're sticking to it.
5 years under Obama and things are not getting better. Take your looney ideas and put them in the trash. They are not working.
It takes an economy 10 years to recover from a banking crisis. Every recovery on record has been led by a strengthening of the housing sector. This crash was the housing sector. Suck on it dumbass.
Not when they are further deregulating and consolidating it doesnt. It just doesnt happen.
And its getting worse.
MFGlobal, LIBOR, JP White Whale, Unlimited Bailouts, etc... Its happening more and there is nothing being done about it.
Brown-Vitter 99-0. Bernanke agreed with Warren that Wall Street banks are a problem. Holder admits the banks are too big to prosecute. Fed Pres. Fisher spoke at CPAC that TBTF banks should be broken up.
The bank lobbyists are reacting. They smell it in the air. They wouldn't be reacting if they weren't worried.
Obviously they are worried, the entire thing is collapsing. Only a fool would not be worried at this point.
Worrying isnt a substitute for action, though, I think we both agree on this.
As it further breaks down, look for the holy trifecta of the Fed, Wall St and DC to get even more attacking.
Attacks and finger pointing will increase, but action wont, because in the end they will be fine, and it will be people like those on this forum that get the shit at the bottom of the hill.
I hear ya. But the Fed is getting more vocal against Wall Street. Fisher has been at it for years. Now he's taking it to CPAC. Of all places. Now Brown has some bipartisan support for something he's wanted since Dodd Frank. Which Dems were wary of at the time and Republican's were going apeshit against. I'm not saying it's enough. It takes time to build support. I think LIBOR and the Whale scandal contributed.
Most Republicans in the House are Tea Shitty Libertarian's now though. So they'll be all - let the free market take care of it.
Quite frankly, I think the Fed is getting more vocal against Wall Street because they know they can't keep subsidizing them like the welfare queens they've become, given that the money is not finding it's way into the productive economy as the Fed intended. However cozy the Fed and Wall Street may be, at some point it must become mano a mano. The only way to save their skin is to throw Wall Street under the bus.
I dont hear any of them making noise about the bailouts though, which is central planning at its worst.
http://www.adbusters.org/campaigns/goldman/adbusters-tactical-briefing-42.html
Sorry about that. I wrote another paragraph after my reply so we probably crossed paths.
Look. The bailouts are past history. It's done and over. I'm not sure your point.
Since September, they have doubled it to 85Billion a month. Its about to get bigger by the end of the summer.
Unlimited bailouts. Thats the response to us chanting week after week about "Banks got bailed out, we got sold out"
http://www.usnews.com/news/articles/2012/09/13/fed-announces-unlimited-qe3
What did you expect? Instant gratification? Because some people got a little noisy in the street one time? I don't think it works that way.
Another way to look at it - it's a testament to our social safety net that change may take longer than it otherwise might. If more people were starving and living in the streets. If there were no foodstamps, unemployment insurance, housing assistance. It's a tradeoff.
Anyone who thinks that these huge issues like banking will simply self regulate themselves is out of their mind. Im all for making the SEC a democratically elected body. Although Im not sure the public would do much better than that than they do with other elections.
I wasnt expecting instant gratification but I wasnt expecting such a blatant slap in the face either.
Those are two very good points. All though I think "their" goal is not a safety net, to bounce people back up, but a net to keep em down.
Horribly racist people run this country.
The goal of current Republican's, who aren't Republican's at all, but economic Libertarian's, is no safety net at all. Ayn Rand is their economic Jesus.
Not saying racism isn't a problem. Not saying the Dems are perfect. But Ayn Rand as economic Jesus - is a much bigger problem.
This has been the weakest recovery of all financial recoveries. Who is the dumbass?
Housing did not lead the recovery in Canada ten years ago and did not lead the US in the early 90s
OMG you're stupid. Read the white papers. Reinhart and Rogoff. Regarded as accurate by the vast majority of economists and academic experts.
Read Taylor at Stanford. If you are so smart how come your policies aren't working
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Great. Our plan is to start a world war
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Trenchant - but very informative...about pnac that is. Thanks Zen.
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Ha ha, you are the one saying we need a world war to grow the economy. You have been in office for 5 years and your plan has been implemented and it is not working. Nice language by the way. Are you in high school.
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They haven't "done" my idea, so what the hell are you talking about?
Bush FUCKED this country up BAD!!
He even kicked the family dog on his way out the door.
The shit he fucked up, is still in the process of fucking up.
He's now a FUCK UP that paints naked pictures of himself.
Were you really asleep all those years? No one was going to flip a switch and fix all the shit he FUCKED UP.
It will take decades.
Cheney's happy though, as are all his buddies in the munitions industries.
Contracts, you know.
http://www.zcommunications.org/cheneys-halliburton-made-39-5-billion-on-iraq-war-by-angelo-young?
Obama=Obama=Bush=Bush=Clinton=Clinton=BushSr=BushSr=BushSr.
Perhaps the reason Carter only lasted one term was because he wasnt willing to play ball?
We have effectively had 33 years of the same people running the show. And it shows.
Changing subjects AGAIN???????
At least there's fewer insults.
Here some of that smaller is better stuff for you.
http://www.truth-out.org/news/item/15617-seven-state-keystone-xl-resolutions-where-are-the-environmentalists
Yes those tiny insignificant, impossible to corrupt States will see to it the XL gets installed as ALEC has already paid for it.
and they don't give fuck who is the President.
If you had any depth to your views you would realize its an extension of what you said.
You really like standardized testing dont you?
"and they don't give fuck who is the President." Exactly, they are all the same.
Changing subject again??/
Why yes, you are.
HEY!!????
You never did comment on this.
You are after all pro gun.
http://www.addictinginfo.org/2013/04/09/loaded-gun-on-bed-check-4-year-old-kid-check-another-gun-tragedy-check/
Who should go to prison on this one?
Fuck you. Youre an angry old man behind a computer. Go get a fuckin life or try to help organize something via internet but stop being a pain in the ass to this entire thing.
Fuck me??
You don't have enough money or sense.
You insulting hack.
Yeah right, OWS should adopt John Birch Society positions like YOU do.
Fucking hack.
They should call the 99% asses, like YOU DO.
Fucking insulting hack.
They should ignore what's happening in the States like you do.
Fucking hack.
They should just bitch and insult people incessantly, like you do.
Fucking hack.
and you do community outreach??
Fucking useless hack.
Let er rip, there will be plenty of other thinkers that you chase off in the future too.
" I'm not running for anything, but if Murdock wants to give me some cash, I'll take it."
This event was about people like you: http://www.youtube.com/watch?v=QBxgmEJxHo0
I didn't hear that guy quote me out of context.
That's what you do.
Come to think of it, I didn't hear him call the 99% asses either.
So about that stuff on Alex Jones you say is so very true.
What was it?
Ha Ha, still blaming Bush. Your wacko socialistic ideas don't work and the unemployed of America are paying for you and your rookie president.
Employment fell for all 8 years of Bush'o'mania.
Manufacturing jobs left during all of those years too.
What the fuck do you think folks are going to be employed at now anyway?
Office squatters??
Fuck that.
there's no fucking decent jobs. WallStreet threw them all away during the Bush years.
You might not like it, but.
That's a simple fact.
No one is going to pull a switch and bring them back overnight.
And it's the (R)epeplican'ts that won't let us build anything.
Are you really this stupid?
Facts: the average unemployment rate for George W Bush two terms was 5.3%. So no, employment did not fall for all 8 years of his term. Where do you guys get this stuff from You are so easy to refute. Come on you guys have to be tougher than this.
Ha Ha, the Republicans won't let you build anything. It's not your money so you don't just get it. That is the way life works. You don't always get what you don't deserve.
Notice I didn't mention"unemployment". A stat that has been easily manipulated over the years.
I said JOBS were leaving and at one point it was sustained at over 700,000 a month, for months on end.
So pull your out of the fucking sand.
Not my money???
Unlike the corporations that whine and cry all the time, I pay my taxes and have for over 40 years.
Teabagge(R)s even raised them 100%, the lying assholes.
I got NOTHING is return. They did it to fund a yet another tax break for corporations.
Are you creating a manufacturing company and hiring those people?
WallStreet won't loan me the money.
How about you?
What are you putting at risk?
Everything.
How about you?
Of course not one thing you've said has negated what I said originally.
Anything of value.
You don't know enough economics or business to know if you have been negated. "Employment fell for all 8 years of Bush'o'mania" Sorry this has been refuted by the same government run by the rookie.
Sorry your highness.
I watched it happen.
You don't anything about making stuff.
I did it for 40+ years.
Sorry your highness. I watched it happen. You don't anything about making stuff. I did it for 40+ years.
That's the point, you watched it happen so you didn't take any risk yourself or put anything up. You just wanted a job and your salary and your healthcare. Where do I sign up?
You'd have to actually work.
I'm thinking that's just not your thing.
You could come to Detroit and try though.
Reduced spending won't correct the root cause. Our economic problems are the result of nearly all of the growth in income going to the top 10% for the past 40 years.
http://stateofworkingamerica.org/who-gains/#/?start=1968&end=2008
After the collapse in 2008 the lower 90% lost all of their surplus wealth. The upper 10% lost just a small potion of their surplus wealth. The low and middle class need that surplus to grow the jobs. Because all of the surplus keeps going to the top 10%, job growth is anemic, and the only group that will prosper are the wealthy.
The only way to reduce inequality is job growth and the only way to do that is solid fundamentals. U
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After watching the presidential debates, and any state debates if you could even find one, it should be clear that this entire system is fluff, and needs to be abolished ASAP.
Boy are you beliefs on the fringe. Show me where your zany ideas have worked- Cuba or theISSR.
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The US economy has performed extraordinarily well up to the crisis. This has produced an extraordinary level of prosperity for its people. This has been due to its adherence to a free market system. You have yet to show a country where socialism works.
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Explain. Are you speaking of 46 or 50?
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Sure, the poverty rate in 1950 was 30% and 14% under Reagan in 1984.
Which fundamentals?
Sound monetary policy, low and fair taxation, and limited regulation to spur growth
Raise taxes on the wealthy, cut forthe working class, Strong regulations in finance and food, and energy, Invest in education, job training, job creation.
Cut defense budget, cut corp welfare, cut deductions for wealthy.
That is sound economic policy
No problem cutting spending as this is putting money back to the people.
History shows that raising taxes will reduce activity so not sure how you think this will help do you believe that government should control all spending?
You're wrong. All wealth is not equally productive to the economy. High levels of concentrated wealth bends towards rent seeking behavior and financialization. This is not productive to the economy. In fact, it's destructive. High levels of concentrated wealth also weakens democratic institutions. Resulting in plutocracy. The fact that you don't know this is the key to the plutocrats success. Good job. Plutocrats love your stupidity.
Raising taxes on the wealthy will not reduce activity cause they are sitting on (hoarding) trillions and their spending will not by diminished.
Govt should increase spending on education, job training, job creation.
If you raise the price of an asset you will get less of it. You raise the price of work then peopl will work less and spend their time avoiding the tax.
So you believe government should control all spending?
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The people should control govt spending through the peoples representatives in the govt, until we implement direct democracy.
Then we can control spending without representatives.
You didn't answer my question, so you want everybody to work for the government and have it make all of the spending decisions?
"everybody ...work for govt"? Nope. Never said that.
Try again.
What are you saying then. "Govt should increase spending on education, job training, job creation". So you believe that government needs to spend money to create jobs and they do it better than the private sector. So why wouldn't we have the government do it all then.
Private sector is best at creating jobs. Govt must spend/invest to help private industry do so.
"Private sector is best at creating jobs. Govt must spend/invest to help private industry do so".
If the private sector is the best then what help does the govt give besides taking assets away from the private sector.
Innumerable.