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Old 06-20-2017, 01:22 PM
 
Location: Ohio
17,986 posts, read 13,233,625 times
Reputation: 13765

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Quote:
Originally Posted by jackmccullough View Post
I'm not sure who these "redistributors" are that you're talking about, but I am close to 100% certain that there "is a huge pile of currency stashed away in a vault `somewhere' . . .".
You'd be wrong since much of the Wealth is tied up in Stocks, Bonds and/or Real Estate. There's a huge difference between Market Value and Salvage Value.

Quote:
Originally Posted by Thatsright19 View Post
U.s population is 4.4 percent of the world. 320 million out of 7.2 billion.

Us GDP is 19.5 trillion out 80 trillion worldwide.
US federal debt is 1/4th of World GDP. By about 2025, US debt will be 1/3rd of World GDP and then by about 2042, US debt will be half of World GDP.

I hope people don't seriously believe that the rest of the World are going to fall on their swords and suffer a lower Standard of Living and Life-Style just to buy US debt.

Anyway, for the record, the US is slightly less than 5% of the World's total population, yet Americans consume 24% of the energy resources (oil, natural gas and coal) and 30% of all non-oil resources.

On average, one American consumes as much energy as

2 Japanese
6 Mexicans
13 Chinese
31 Indians
128 Bangladeshis
307 Tanzanians
370 Ethiopians

https://public.wsu.edu/~mreed/380Ame...onsumption.htm

As emerging- and developing-States continue to advance, they'll consumer more resources, creating Demand-pull Inflation, driving up the prices of energy and consumer goods.

 
Old 06-20-2017, 01:27 PM
 
4,229 posts, read 1,903,093 times
Reputation: 3782
Quote:
Originally Posted by Thatsright19 View Post
Explain why. Moderator cut: . I understand what a reserve currency is. And the usd is the dominant reserve currency at over 60 percent. The other major ones, mainly Japan, U.K., and the euro are our closest allies.
Canada and Australia are our close allies as well. Their currencies are used as regional reserves, but only because their combinations of GDP and penetration into international trade do not match the current and historical standards of the others. A reserve cuirrency is meanwhile any widely convertible currency that governments choose to hold as part of their official reserve assets.

Last edited by toosie; 06-27-2017 at 02:29 PM..
 
Old 06-20-2017, 01:34 PM
 
Location: Raleigh
8,007 posts, read 5,287,613 times
Reputation: 9647
"Loopholes". I love that word. It presumes that "income" can be defined as any money coming in to an individual or corporation, regardless of the cost of generating that income.
"Cash flow cow"
 
Old 06-20-2017, 03:35 PM
 
33,046 posts, read 20,708,082 times
Reputation: 8928
Quote:
Originally Posted by Thatsright19 View Post
What wealth? Renters have income they're blowing away with no opportunity to build wealth.

Right, so enabling renters to OWN would enable them to fund their own retirement instead of their landlord's retirement.
 
Old 06-20-2017, 05:04 PM
 
3,699 posts, read 3,025,705 times
Reputation: 10007
Being concerned about wealth 'redistribution" ignores the other half of the equation, the distribution of wealth which leans toward the top tier of society. The term redistribution itself has been connected to a manufactured fear of socialism and the notion of power as something having to do with how much wealth one has.

America's total wealth has already been redistributed, from the laborer--to the corporate till. The loss of an effective American labor voice has altered the picture of how wealth is created and distributed. Nobody should be foolish enough to act as though the migration of wealth in an upward class spiral is somehow a natural phenomenon, it isn't. Power is the reason for wealth concentration, those with great wealth have a political voice, and those without, well.. They don't.

This statement below sums up nicely the ideas of wealth and power as they relate to the very real inequality between labor and the corporate class who fight vigorously for their lopsided share of labors contribution.

"Take, for instance, the phrases “redistribution of wealth” and “class warfare.” The visceral response in the American psyche is fear — fear of communism. And those who cry the loudest are those who have already waged class warfare, albeit quietly.Wealth in America already has been redistributed. The only question is whether to let that redistribution continue, or to “re-redistribute” the upward distribution that has already taken place."


Gordon C Stewart, from, The View from the Edge.
 
Old 06-20-2017, 07:15 PM
 
Location: Paranoid State
12,662 posts, read 9,420,097 times
Reputation: 14916
A Liberal is someone who feels a great debt to their fellow Man, which debt they would gladly repay with your money.
 
Old 06-20-2017, 07:19 PM
 
33,046 posts, read 20,708,082 times
Reputation: 8928
Quote:
Originally Posted by SportyandMisty View Post
A Liberal is someone who feels a great debt to their fellow Man, which debt they would gladly repay with your money.

??? ??? ??? ??? ???

The mortgage interest deduction and the tax break for employer-paid health insurance were created by liberals?
 
Old 06-20-2017, 07:52 PM
 
Location: Boston
3,712 posts, read 1,257,284 times
Reputation: 5732
Quote:
Originally Posted by freemkt View Post
??? ??? ??? ??? ???

The mortgage interest deduction and the tax break for employer-paid health insurance were created by liberals?
Was the welfare state created by Conservatives?
 
Old 06-20-2017, 08:24 PM
 
Location: Raleigh
8,007 posts, read 5,287,613 times
Reputation: 9647
Quote:
Originally Posted by freemkt View Post
??? ??? ??? ??? ???

The mortgage interest deduction and the tax break for employer-paid health insurance were created by liberals?
Without doing any proper detailed research, my understanding of employer paid health insurance/employer provided health care is that this originated in WWII where wages were controlled(frozen) by the government so in order to be competitive, Henry Kaiser instituted free health care. This could not be considered income but it sure was a benefit. The idea spread across the land. Having more money available meant health care became better and better salaries attracted better care givers, which required more money, and resulted in more research which resulted in better care which resulted in health care approaching 20% of the economy.
"If you build it they will come"
 
Old 06-20-2017, 09:41 PM
 
33,046 posts, read 20,708,082 times
Reputation: 8928
Quote:
Originally Posted by jonesg View Post
Was the welfare state created by Conservatives?

Conservatives say the mortgage interest deduction and the tax break for employer-paid health insurance are "taxpayers getting to keep more of what they earn" and NOT welfare.
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