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TGT
Social climber
So Cal
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Aug 10, 2011 - 11:31am PT
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Corporations, or any business for that matter don't pay taxes.!
They only are forced to collect them from customers or stockholders.
The broken window fallacy rears its head again.
Plenty of Mondors resident here.
http://www.econlib.org/library/Bastiat/basEss1.html#n2
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couchmaster
climber
pdx
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Aug 10, 2011 - 11:49am PT
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Some of you guys can't even speak without insulting others who have equally valid viewpoints. And you want more from your Senators and Congressmen? Good luck. I agree with DMT upthread.
The only thing the Dems (Obama) and Repubs haven't done regarding trade with China, is to insist that the Yuan float freely. That might bring a few jobs back to the US> Not accurate Fattrad. Hillarys first overseas trip as Secretary of State was to China was billed in the press as done to convince them of allowing the Yuan to float. The Chinese have bumped it a few notches very slowly and methodically. So here's the question: after a 5 month hiatus as a net seller of US bonds and buying none (while the fed bought so many that they became the largest holder of US debt in the world), the Fed quit buying as QE2 ended in June. On June 16th the Chinese unexplainably jumped back in and purchased some more. I see these as more than random coincidences.
What did the US government offer for inducement to the Red Chinese to buy bonds and keep the Fed from derailment? Watch the pending sale of F16s to Taiwan and lets see if that was on the table.
Todays China trade export newz: http://www.bbc.co.uk/news/business-14471412
"10 August 2011 Last updated at 06:14
China's trade surplus jumps 41% as exports gather pace
China's trade surplus surged in July as exports gathered pace despite concerns of a slowdown in the global economy. Shipments from the mainland grew by 20.4% in July from a year earlier, according to China's customs agency. Imports grew by 22.9%, resulting in a trade surplus of $31.5bn (£19.3bn), up from $22.3bn in the previous month. Analysts said the bigger-than-expected surplus will once again see the focus shift to China's currency policy. China's trading partners have accused it of keeping the value of its currency low, making its good cheaper to foreign buyers, in a bid to boost its export sector."
To me, it appears that the US is intentionally trying to lower the value of the US Dollar to shake the export imbalance issue off and gain parity and balance with the Chinese again, but like a tick on a dawg, the Chinese aren't letting go.
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jstan
climber
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Aug 10, 2011 - 01:11pm PT
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"In other legal news, polygamist leader Warren Jeffs was sentenced to life plus twenty years, effectively ending his bid for the Republican presidential nomination."
I have an admission to make that will cause my ejection from ST.
I did not come onto the Borowitz report unassisted. A fellow grad student from years gone by has a ferocious good sense of humor and he publishes by email once a week. It was through Paul that I first saw this report.
Now it is spreading like a tsunami.
In the end, it will be the return of good humor that will save our country.
Jeff's question is even funnier.
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John Moosie
climber
Beautiful California
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Aug 10, 2011 - 01:47pm PT
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A flat tax sounds counter intuitive, but it works rather well in the countries that have them.
So..our attempts at a progressive tax do not really work that well.
the flat tax only works well because they did away with loopholes. No write offs. Thats is also how you fix a progressive tax. No write offs. If you did that, you could also reduce the tax rate because effectively right now, the wealthiest people are only paying about 15 percent.
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Mighty Hiker
climber
Vancouver, B.C.
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Aug 10, 2011 - 03:03pm PT
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Why don't Republicans, teabaggers and right-wingers generally have a sense of humour? Is it part of their personality disorder?
I except Fatty, who has a sense of humour, but is in fact working undercover for the DNC, discrediting the RNC.
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apogee
climber
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Aug 10, 2011 - 03:55pm PT
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"Once again, the 90's surplus was a momentary glimpse of fiction. "
Even if that's true, fattrad, the fact remains is that those economic conditions, however they originated, resulted in a record-setting surplus. That surplus was very, very real.
It was the responsibility of the incoming POTUS to manage that surplus. He did. He pissed it away in tax breaks and two questionable, relatively pointless wars. He could have chose otherwise, but he didn't. He went on a spending spree that made Reagan's tenure look like child's play, and when he left office, we were teetering on depression. You can keep your head buried in the sand, but that history will remain.
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apogee
climber
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Aug 10, 2011 - 05:35pm PT
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How'dja like to have THIS waiting for you in your mailbox this week...
It was kinda like realizing there's a rattler square in front of me...
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John Moosie
climber
Beautiful California
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Aug 10, 2011 - 06:58pm PT
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Bush and Cheney didn't see the bubble
Yet you defended them over and over and over.
Most of my friends saw the bubble. We talked about it on this forum.
You even defended the tax cuts, which were a crime if we were going to increase spending by starting two wars.
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Gene
climber
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Aug 10, 2011 - 07:04pm PT
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Jeepers, Fattrad. How many times are you gonna post that link with your name in the paper?
Under/Over bet... # of Fattrad CC Times link posted versus times Fattrad actually drove the cop car. I'm going with more CC Times links posted.
Bush and Cheney didn't see the bubble, very few of us did.
Bush, Cheney and Fattrad. Three blind mice.
g
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Gene
climber
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Aug 10, 2011 - 07:19pm PT
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I didn't see the bubble. It was nigh invisible.
Not here in California's Central Valley. Before the peak of the single family residential market in Stanislaus County, measured both by median price and # of sales, only 2% of Stanislaus County residents could afford the median price home. Red flag?
g
EDIT: Should read households rather than residents.
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John Moosie
climber
Beautiful California
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Aug 10, 2011 - 07:23pm PT
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I don't understand how people missed it. Karl and I and Gene talked about it on this forum multiple times. It sure seemed obvious to us. Everything was overheated. It had to crash. We especially talked about it based on the flipping market in florida. that was just crazy and unsustainable.
Edit: Yep.. Riley and others saw it too. Healy saw it and others. We all talked about it here on this forum.
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Elcapinyoazz
Social climber
Joshua Tree
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Aug 10, 2011 - 07:33pm PT
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TGT, it is encouraging, that you seem to be a reader of Bay Windows, which touts itself as "New England's Largest GLBT Newspaper",but really...just...stop. You make yourself look beyond stupid EVERY time you twiddle your little typing fingers and gurgle your nonsense into cyberspace. I've never encountered anyone of your advanced age that still manages to sound like a 12 year old boy.
"coming to Bachman's defense on the doctored cover photo."
Doctored? Do you understand what the term "doctored" means? Running an unflattering, unaltered photo does not equal "doctoring". Did you even read the link you posted as some kind of "support" for your whining? It destroys your entire argument.
It's just painfully sad to see someone who isn't even cognizant of their own stunning stupidity. So please, just stop already.
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JEleazarian
Trad climber
Fresno CA
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Aug 10, 2011 - 07:35pm PT
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I didn't see the bubble. It was nigh invisible.
The California insolvency bar certainly did. We sold our house in 2004, and rented until last year. I also included the bursting of the bubble and the likely downturn in my economic forecasts when the "consensus" forecast was for continued growth. I undershot the extent of the downturn, and particularly how slow the recovery would be, when I first made my forecast in 2004, but compared with others at the time, mine was exceedingly pessimistic.
BASE104, one reason states have balanced budget rules is that they cannot print money (although California has tried for years). The federal government has no such limitations, and I believe it would be foolish to deprive the government of fiscal policy as a tool for ameliorating downturns.
The real problem isn't short-term. It's a long-term promise that cannot be kept if decreasing numbers of workers and savers are supporting increasing numbers of non-workers and dis-savers. That's why that "vocal minority" is screaming so loudly about entitlement programs. Their inherent unsustainability is sending much of western Europe into a tailspin that we should not want to follow.
John
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TGT
Social climber
So Cal
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Aug 10, 2011 - 07:35pm PT
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That was just the quickest link to a story that's been around for a couple of days now.
Newsweek is pretty pathetic.
No wonder it's failing along with Time, the NYT and LAT.
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Gene
climber
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Aug 10, 2011 - 07:44pm PT
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I did a thirty minute interview and he trimmed just a bit, bwahahahahaaha.
Glad to hear the reporter has a BS filter. 30 minutes turned into 5 lines.
You should buy him dinner as thanks for getting that much press.
g
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the kid
Trad climber
fayetteville, wv
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Aug 10, 2011 - 07:51pm PT
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spot on PATRICK.
Fattrad, you are so afraid of the truth. they will bring down Obama at all cost- those were Mitch McConnell's words..and in doing so the US with them/us..
f tards..
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the kid
Trad climber
fayetteville, wv
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Aug 10, 2011 - 07:52pm PT
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fattrad, we gave you your tax cuts when Bush was elected and he BUSTED the economy 8 years later. then you got 2 ore years of those cuts. where are the jobs? where is the rebound except @ the top 1%
f tards..
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John Moosie
climber
Beautiful California
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Aug 10, 2011 - 08:03pm PT
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Tax cuts help the economy, just the dollars in hands that have a higher velocity of spending.
The economy was fine when Bush first took office. He started two wars, built the largest federal department, growing the government considerably, and didn't pay for it. That is terrible because it puts the burden on our children.
Plus the economy was overheating anyway, which means the tax cuts helped create the bust. Think about that one.
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Base, yes a flat tax is simple. But so is a graduated tax if there are no loopholes or write offs. A graduated tax is more fair to the poor.
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