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Friday, July 20, 2012

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financier

What is Romney's jobs plan that you support? Cutting taxes to perpetuate the myth of voo doo economics that no serious economist believes in because there is no data to support it after two gop led failed experiments spanning over 30 years?

If you old folks keep running up the deficit with nonsense you are going to learn that we don't care that you don't understand how a pay as you go system works. We younger voters will just stop funding your benefits because it doesn't work with declining population growth. Let's be clear on who is sucking this country dry, it isn't the poor you want to demonize, its the aging and the fraudulent medical "nonprofits".

Pay your bills, America. Cutting taxes does not increase revenue, the second order effect of stimulus will never make up for the lost revenue. If somebody had found any evidence to the contrary you would see a statistically significant result that has been duplicated by many.

Btw, the President post Eisenhower who has increased spending the least? Obama. Second? Clinton. The most? Of course you know the answer. Check Forbes.

I don't believes its the governments job to create jobs, that is for entrepreneurs. We can tax cut and spend every year trying to do it, but that is a structual deficit, not stimulus. Meanwhile corporate profits are at record highs while the number of jobs still stagnates. No trickle down. At all.

larry kurtz

“Anyone who thinks socialism failed in America has never spent time on a military base.”

http://www.foreignpolicy.com/articles/2012/07/19/welfare_state

"Larry, anyone who thinks socialism failed in America has never spent time learning about the National Football League."

http://www.rushlimbaugh.com/daily/2012/01/30/goodell_admits_nfl_is_sociali


yer slippin,' ken.

MJL

I think that you and a lot of the Conservative forces are missing the real point behind Obama's recent speeches. The point is simply that a person doesn't do it by themselves. It takes hard work, smarts, and typically a lot of support from the community around them.

Ken Blanchard

MJL: try reading the post before you comment. I agree with your point and said so. I also pointed out why it wasn't relevant.

Financier: what?

Donald Pay

Uh, wrong. The "job creation" in the 1980s is myth. We should pay attention to that only to learn how government can work with new industry to create jobs.

You really need to review your recent economic history. The 1980s was a time of job destruction. In fact whole industries were destroyed by the 1980s economy, and the Rust Belt and agricultural Midwest took a pounding. The Rust Belt never recovered and the agricultural Midwest required massive federal intervention in markets to correct.

The 1980s "boom" was a bi-coastal bubble centered around a few new industries---computer technology (mostly on the West Coast) and deregulation of the financial services industry (mostly on the East Coast). Government purchases of computer products and services were key to the boom in computer technology, and the financial industry deregulation resulted a bust within the 1980s, and again in 1992. Other growth was fueled by consumer and government debt.

Learn from the past, KB. Republican policies drive deficits, debt and collapse.

Donald Pay

Another factor partly accounts for the 1980s appearance of job growth also occurred. The awful economic conditions for men in manufacturing whose family supporting jobs were outsourced led to more women being forced by economic conditions to enter and remain in the workforce for a longer time.

Dave

"Job creation" happens when demand exceeds production... not 'cause some rich dude got his tax rate cut...

financier

The only other freaking factor is massive spending.

Neither Reagan nor W had the balls to cut taxes without it.

Without "that" portion of bankrupting the country, the myth is alive and well for the folks who inherited a family farm and think they hit a triple. Probably book residuals work the same way.

duggersd

President Reagan, W, Clinton, Obama, or any other president can raise taxes without the help of Congress. Also, no president can cut spending or increase spending without the help of Congress. Reagan famously accepted a tax increase in exchange for a 2 for 1 cut in spending. Guess which came into fruition and which did not. W for much of his administration had a Democrat Congress to deal with. Granted, when he had a Republican Congress, the Republicans spent like Democrats. When the Democrats took over in 2007, spending went up. I really wish W had the gonads to veto those spending bills.
As for the gaffe, President Obama has revealed his feelings about the American entrepreneur. Contrary to the professor's assertions, I believe President Obama a Marxist or a fascist. He certainly advocates policies for both. He believes in the collective and the need to "spread the wealth around". The gaffe is so bad, he accused Romney of misquoting him in a commercial and in the same commercial used the "misquote" word for word http://www.weeklystandard.com/blogs/obama-ad-accuses-romney-launching-false-attack-quoting-obama_648762.html. This could be the gaffe that kills his effort, much like Ford saying Poland was not under communist control.

Ken Blanchard

Donald: Obama would give his left nut for economic numbers like the 1980's. Clinton, with a Republican Congress, cut the deficit. What did Obama do with a Democratic Congress? A trillion and a half a year. Your argument is utterly ridiculous.

duggersd

"President Reagan, W, Clinton, Obama, or any other president can raise taxes without the help of Congress." should read: President Reagan, W, Clinton, Obama, nor any other president can NOT raise taxes without the help of Congress.

Donald Pay

No one in there right minds wants to go back to the 1980s economy. If you worked in the elite financial world, a multi-national corporation outsourcing jobs, the import business or Silicon Valley during the 1980s you did well. If you worked anywhere else you did not.

I grant you there were mini-booms associated with corruption in government. For example, the coal industry and the hazardous, nuclear and solid waste industry had a boom because of what were later found to be corrupt practices in Reagan's environmental permitting agencies. Also, the deregulation of the savings and loan industry led to a huge scandal and a recession. But you conservatives never learn from history. You praise the worst aspects Reaganomics, which tanked the economy, and want to repeat them.

Ken Blanchard

Donald: I nominate your comment above "No one in there right minds wants to go back to the 1980s economy" for the honor of Dumbest Comment Not By Larry Kurtz". So far there is only one other nominee, so keep your fingers crossed.

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