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Posted by: DropkickaLib 10 months, 2 weeks ago
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DropkickaLib10 months, 2 weeks ago
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The Spendulus Package is too much inflationary spending. It is compounding debt on too much existing debt. The History of the Great Depression demonstrates that government spending isn't enough to help but subsequent history shows that it can result in inflationary pressures.
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jovial10 months, 2 weeks ago
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Your solution? We have to bring back manufacturing and put people to work in this country. The gravy train is over. We can't be a service job oriented economy and stay on top. We can't expect Wall Street or large corporations to bail this country out. The government is the only thing left that cares about the American middle class. (and for a long time they haven't been doing their job)If the government doesn't act we will be flushed down the toilet. Who do you think will save this country? Exxon, Microsoft, AIG, Goldman Sachs?
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slate10 months, 2 weeks ago
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Bring back manufacturing? Good Idea, except that would mean more evil corporations, are you ok with that?
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Secondly, how do we do this? By cutting corporate taxes, or even suspending them for a period of 4 years so the US will be flooded by not only American but foreign companies that always set up shop in the places with less stringent taxes that come off the top and stifle profit (the thing and manufacturing or other business is in ‘business’ for.
In fact is Obama and Company want to be "BOLD", they should cut out most taxes (business, personal (upper, middle and lower income brackets) for a few years and let the government cut back their own pet projects. The money spent of purchasing items by the ‘People’ and the goods purchased by manufacturing and other companies would be vast enough to float the Feds by and actually help create jobs with the added jobs and purchasing power of those when they have the additional income in their checks.
Cutting taxes always bring in more money in the long term, the trick is to not spend more than is brought in (something neither party has figured out over the years). Even JFK knew this to be true years before Reagan came into office.-
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jovial10 months, 2 weeks ago
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Cutting corporate taxes will do nothing for the middle class. They already cut taxes and we have the situation we have now. The corporations will not bail America out! They will continue manufacturing overseas and the hollowing out of the economy will continue. Engdahl addressed the "cutting tax" policy in the videos. The industries have to be kept here and put Americans to work.
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amazed10 months, 2 weeks ago
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Well, I consider myself to be middle class (lower middle class, most likely) and tax cuts on all levels would help me enormously. As a small business owner, approximately 50% or more of my GROSS (that's off the top) goes to pay the various federal, state and local taxes that I am liable for. The government gets far more from my business than my husband and I do.
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As for those who insist that corporations pay no taxes because they just pass them on, that might be true for big businesses with large market shares, but for us little guys, we can't pass many of our increases on -- we are, for the most part, price takers rather than price makers.-
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Engnr10 months, 2 weeks ago
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amazed,
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I am in the same boat, I have a small company that employees 9 people, we manufacture and export, by time I am finished paying:
Matching SS
Matching Medicare
State Unemployment tax
Fed Unemployment tax
Personal Property Filling fees
Personal Property Tax on Inventory
Workemans Comp Ins
Fed Taxes
State Taxes
Health Ins
State Sales Tax
Liability Insurance
Building Insurance
I am sure I have missed a few federal and state mandated fees, insurance and taxes.
The US is not friendly for business and I can understand why major corporations have moved out. And we will only survive if this congress and president can improve the business environment.
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jimdoze10 months, 2 weeks ago
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The interesting part, Jovial, is how you will force corporations to manufacture, or even exist, here. If I, as an individual or a corporation, can't make money manufacturing here, you can bet i won't be doing it... and, neither would you.
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If your answer is a vast increase in protectionism so that it can be profitable for corporations and individuals to be profitable, get prepared for trade wars to be followed by shooting wars.... just as sure as night follows day.-
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jovial10 months, 2 weeks ago
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Interesting dilemna. I don't know how we will do it, but we have to. If we don't wages will continue to decline, and Americans will have to accept a lower standard of living. The only way to keep manufacturing here is to build new industries that produces products that people will consume. To streamline our mass transportation system so that we can deliver people and goods more quickly and efficiently. Relenquish our heavy dependence on fossil fuels. Develop our schools and teach more of our children the math and science and engineering. Develop a skilled laborer bank. People that can build. Carpenters, machinists, electricians, plumbers, etc. Get healthcare costs under control in this country. We can't have people running around with out access to healthcare. We have to get illegal immigration under control. If you don't belong here you should be asked to leave.
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jimdoze10 months, 2 weeks ago
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The how, from a public policy standpoint, is to improve infrastructure (as you suggest), clear the way for a massive increase in home grown energy (nuclear), re-commit schools to math, science, engineering (as you suggest) and higher levels of communications skills, eliminate corporate taxes, and flat tax individuals.
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jovial10 months, 2 weeks ago
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What about healthcare and immigration? Use a government stimulus to rebuild the electric grid. Support more student loans and grants for science and engineering majors. Increase government funding for research in new industries. I can't go point by point here it would probably fill the whole page. I think we can agree that something radical has to be done. Just cutting taxes and sitting back and watching the show isn't enough.
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Engnr10 months, 2 weeks ago
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It is enough, you would be surprised how hungry people are to make this happen. Spending a trillion dollars is going to do nothing except bankrupt us. The radical part is let free enterprise make it happen. But it takes trust. And will a few people get very rich, yes, but big deal.
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jovial10 months, 2 weeks ago
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We've done that! It does nothing for the real workers in this country. A trillion dollars is probably not enough. As far as being bankrupt, ...we already are. We can't pay back what we already owe. So why not spend some of that money on us and regular people in this country. Why do we have to continue giving taxcuts to entities that outsourced all of our jobs? Why don't they have to pay more to do business here. If they want take all their cards and leave the country let them go. Let them headquarter in China or Russia or someother country. I say then we should boycott everyone of them that leaves. The fact is the U.S. is a great country to do business in, and it's stable and relatively safe. We don't have to throw ourselves at the mercy of these corporations, just because they offer us a few jobs.
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jovial10 months, 2 weeks ago
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Nevertheless, some have argued that U.S. corporate tax rates unduly burden U.S. companies by pointing to the country’s top statutory tax rate, which is 35 percent. For example, a recent Wall Street Journal editorial calling for corporate tax cuts noted that this is the second highest top statutory tax rate among developed countries.[2] While true, this gives the false impression that the corporate tax burden is greater here than in other developed countries. Because the U.S. tax code offers so many deductions, credits, and other mechanisms by which corporations can reduce their taxes, the actual percentage of profits that U.S. corporations pay in taxes — or what analysts refer to as their effective tax rate — is not high, compared to other developed countries.
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http://www.cbpp.org/10-27-08tax.htm-
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nostalgia10 months, 2 weeks ago
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There is a huge lesson everyone in the US should have learned with this recession
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What happened in the rest of he world when US consumers stopped spending and started saving?
All you had to read were the reports coming out of Davos where world leaders met
We have become the consumers for the world - 70% of our economy is based upon consumers here buying
Some European countries and China weren't happy with the Buy American provision in the stimulus bill and threatened to file a complaint with the WTO
Common sense should tell you that they are either subsidizing their steel and iron industries if it is cheaper to buy the steel and iron from overseas than from the US manufacturers - the weight to ship those products here is huge
Doesn't matter that ~20% of US steel workers have been laid off
Doesn't matter that the Chinese govt subsidizes theur steel companies so they can undercut US steel prices
These countries want US taxpayers through our stimulus bill to subsidize their steel industries
And what happened - our leaders caved in to their demands - the provision was modified
They also complained that we bailed out our auto industry. At the same time many European countries were also bailing out their own car companies
The European Union gives subsidies to Airbus - have we filed a complaint with the WTO?
All the consumers here have to do is stop buying imports and demand made in the US products
We have to power but will we use it?
There is a trade war going on and has been going on for years - all aimed at undermining US companies
Our government made it easy for US manufacturers to move overseas
Our government does nothing about the illegal subsidies going on in other countries across the globe
You are being used by your own government Jovial
They want credit flowing to US consumers again - is that good? Isn't that what got so many people in over their heads?
We can't be the consumers for the world any longer
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mrlecher10 months, 2 weeks ago
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How do you get corporations to manufacture here in the USA? Really easy, just do like every other country in the world EXCEPT the USA. Tariff the bejeezus out of imported goods. Every other country charges tariffs for goods FROM the US and are EXTREMELY happy to ship stuff to us because WE DON'T.
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dunkirk10 months, 2 weeks ago
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ROFLMAO, cutting corporate taxes? I'm glad those unregulated labor markets they moved into had absolutely nothing to do with it. Taxes had been cut for 8 years and we witnessed the largest exodus of jobs and businesses this nation has seen. When a corporations tax rate is less then an individuals crying that taxes are killing them falls on deaf ears. Poor management is killing them but as is always the case being a strongly Republican area they blame everyone else. If cutting taxes brings in more money inthe long term where is it? Oh wait yeah its the longer term. it seems the tax cuts done under Dumya didnt bring in more money but saw a larger exodus of it to investments overseas.
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"Even JFK knew this to be true years before Reagan came into office."
Except JFK knew you give the tax cuts to people who will spend it, i.e. the Middle Class. REPUBLICANS still need to learn that,
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nostalgia10 months, 2 weeks ago
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Government doesn't care about you Jovial
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The politicians today only care about retaining power
They are driving this country toward disaster with debt that will never be paid off in our lifetime
If "government" cared about us they would be reducing legal and illegal immigration given the economic situation
How can they justify not suspending work VISAS like the H1B?
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