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Right, because --rationally -- Penis Envy and Butt/Breast Implant Envy are terrible things to waste.
Wages are determined by Supply & Demand for each Skill-set in each unique Labor Market.
How about cutting government spending?
Every time the Capital Gains Tax has been reduced, revenues have increased. Every time the Capital Gains Tax has been increased, revenues have decreased.
Too bad you can't figure that out.
The rate of taxation must be greater than 9% but never exceed 12%.
For Italy, the optimal rate is 10% (I think it's actually 10.2%) and they maximize their revenues from Capital Gains.
It appears that the optimal rate is dependent on the tax structure as a whole.
Yeah? So what? Have you checked your calendar recently? This is the 21st Century, not the 1970s.
What else was happening in the 1980s?
I seem to recall a massive recession.
Since recessions are the result of Capital being used inefficiently, over-utilized or under-utilized, then one would expect investments to decrease, right?
You had regional shifts in Capital in the US during the late 1970s and early 1980s.
The textile industry flees the oppressive Tax & Spend governments and unions in New England to relocate in the Southeast.
Heavy industry flees the oppressive Tax & Spend governments and unions in Pennsylvania, Ohio, Michigan and Illinois to head to the South and Southwest.
At the same time, tech industries leave the East Coast for the West Coast, to be closer to the emerging supply chain in the Pacific/Southeast Asia.
What was the Prime Interest Rate?
Double-digits. Mortgages at 13%-15%.
No, if anything, you engaged in this Fallacy:
Selective Attention
Improperly focusing attention on certain things and ignoring others.
The two are unrelated.
Neither can you.
You got debunked.
Did I mention that investment as a percent of GDP is nonsensical?
GDP is an arbitrary accounting.
That got debunked on another thread, to bad you don't like to read.
That is correct.
It's a function of Opportunity Costs.
Investors attempt to maximize return versus risk.
Hot damn, you nailed it...up to that point, plus you raised the crux of the issue.
Why do States need more revenues?
To pay for State-government employee pension plans.
How are those plans funded?
Largely through bonds -- and also by purchasing US treasury securities.
What does Standard & Poor do?
Issue bond ratings.
The State-employee pension plans are all botched abortions. I have yet to see one that was economically viable from the day the contract was signed with the unions.
Effectively, these State-employee pension plans, as well as county and municipal plans (including fire, police and teachers) are all government and union coerced Ponzi Schemes.
Now that these Ponzi-plan pension schemes are collapsing, blame is being tossed everywhere except where it should be -- the States and the unions....
...and the voters.....who elected idiots and drank the union Kool-Aid®.
These pension plans are not viable; were never viable; and nothing can be done short of total economic destruction to make them viable.
Someone needs to take a red pen to those plans and cut them up so that they are viable. If that offends a particular voting block, oh well.
If investors lose their money, that's just too damn bad, and I'm real sorry about their luck, but taxing one class of investor to ensure another class of investor recovers their investment is just plain stupid.
Ah, yes, Debbie and her husband and their 100 acres of land that was worth $20,000 that is now worth $2.28 Million.
Refresh my memory......who was it that wanted the 4,400 square foot McMansion Starter Castle in Outer Suburbia?
Oh, that's right.....that was you.
And the $10,000 in stock that Joe American bought after being graduated from college in 1988, that's now worth $3 Million.
How'd that happen?
Oh, that's right, your incessant obsessive demands for products and services drove up the value.
Funny how the Laws of Economics work.
Very obviously you don't see how complicit you are, and how you aided and abetted.
Millions of new jobs are being created, only they're in the rest of the World and not in America.
Jobs are low wage, because it is Supply & Demand that sets wages, and certain sectors of your economy cannot compete globally, due to the fact that Americans are over-paid.
Explain to us why Mbutu gets paid $0.06 per day and Fat Union Fred gets $39/hour.
Only 3% of US businesses are publicly traded corporations.
When you say "Wealth" are you emulating Josef Göbbels and really mean Earned Income, or do you actually mean "Wealth" --- as in assets?
Because, if you mean "Wealth" in the true sense, then it is you who is causing the Wealth "gap" to increase, not government, and certainly not the 3% of US businesses who are publicly traded corporations.
Even if you are talking about Earned Income, what has changed since 1978?
In 1978, baseball player Pete Rose signed a contract for the unheard of sum of $660,000 per year.
That opened the flood-gates, not only for all athletes, but for film starts, TV actors, entertainers, celebrates and musicians.
Of the 2,989,961 people who filed tax returns with more than $250,000 in 2011, only 2,667,201 had Earned Income (in addition to Unearned Income).
30% are not CEOs or business owners. They're all in the sports or entertainment industry.
Don't forget that the alleged benefits of the so-called corporate welfare or tax incentives benefit all investors, including Average Jane and Joe and their 401(k) plans.
Before you kill the Beast, you might to look at who the Beast will crush to death when it keels over dead.
Economically....
Mircea
I can't speak for all states, but I was a state employee for nearly ten years for the state of Georgia. We did not have a pension. We had 401k and 457 plans which were not matched unless you worked for a community service board. Also, the state does not pay all or most of our health benefits. When I would tell people I worked for the state, they would always say, "oh you must have good benefits, to which I would reply, "I do but I have to pay for them!" State workers are also paid very low wages. I worked in a legal capacity got three state and never saw $30k after working there for many years. This is highly common for state worker s who are degreed and experienced.
People think state workers live high on the hog. we really don't.
Last edited by Atlanta_BD; 09-16-2014 at 05:39 PM..
I have read enough of your posts to know that your arguments are misguided, ill informed and generally dishonest. So, I won't waste my time correcting you.
I used to spend a great deal of time and band width explaining things to the spoon fed sycophants but you "people" basically plug your ears and pretend nothing was ever said while continuing on with your idiocy.
I feel you. I'm almost finished an economics degree, so I was excited that there was an Econ forum until I saw that a number of its posters don't even have an introductory-level understanding of macro/microeconomics.
Anyway, if you have the patience to read through it, I highly recommend everyone in this thread read the following article. It's very relevant to the discussion, and it does a great job explaining the gist of economics as a whole.
All they have to do is tax capital gains like regular income and close the loopholes. Problem solved.
Really?
I used to have cap gains - not so much any more as nowadays I like income producers , especially of the tax-free variety.
Ya ever hear of "unintended consequences" - like rising interest rates for cash-strapped municipals ?
That's what happens when you plan your "problem solved fixes".
People who are smart enough to get wealth are often very smart at KEEPING wealth.
Until they outright confiscate wealth, which I am sure you would just ADORE, this situation will prevail.
I have read enough of your posts to know that your arguments are misguided, ill informed and generally dishonest. So, I won't waste my time correcting you.
I used to spend a great deal of time and band width explaining things to the spoon fed sycophants but you "people" basically plug your ears and pretend nothing was ever said while continuing on with your idiocy.
Once again, another post of blanket statements devoid of relevant arguments pertaining to the topic.
Quote:
Originally Posted by tjarado
Really?
I used to have cap gains - not so much any more as nowadays I like income producers , especially of the tax-free variety.
Ya ever hear of "unintended consequences" - like rising interest rates for cash-strapped municipals ?
That's what happens when you plan your "problem solved fixes".
People who are smart enough to get wealth are often very smart at KEEPING wealth.
Until they outright confiscate wealth, which I am sure you would just ADORE, this situation will prevail.
I would rather have wealth and resources better distributed in our society yes. I don't want to be a third world country with a bunch of greedy goons and starving American children.
Quote:
Originally Posted by miamifloridafan
End the income tax, repeal the 16th and 17th amendment, end the federal reserve, the IRS and more.
Unless people are willing to live off the land, this is a ludicrous proposition.
How would your broke self know? Ummmmmm wealth is used to produce income which is added to the wealth to help produce more income. try it you might like it.
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