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An economy grows when many people have excess money to spend on goods and services. If 1000 people have $1000 in excess money, then they will purchase 1000 pairs of shoes. However, if only one person has $1,000,000 and everyone is broke, then that person will only purchase a few pairs of shoes, never 1000. Thus the economy contracts.
It is like the game of Monopoly. When all of the money is concentrated in one player, then every player except one is bankrupt and can no longer purchase anything. The only way for the players to keep playing is if they borrow money and basically become serfs since they can never make enough money to pay back their debts. This is what is happening in the U.S. It has already happened in Greece, Spain, France, Ireland, etc. We have all become serfs since we are borrowing more than we can ever pay back.
The game is even worse, since in this game, the uber-rich can take as much money as they want from the Bank since the uber-rich and large corporations have changed the rules so they can borrow as much as they want from the Central Bank at 0%, giving them an extraordinary advantage as they wipe out small businesses.
We are spending too much on entitlements unfortunately....taxing the job creators will only bring in a minute fraction of what's needed. You are misguided...
Get control of spending...that's the key. Medicare is a boondogle. There's no competition. SS needs to be revamped. You have many people w/wealth who are getting benefits..its not what the program was intended for.....
The problem is you have 2 parties who won't make the tough choices...
Simpson Bowles was a good start (getting rid of deductions and broadening the base, along w/tackling entitlements) but most politicians wont budge on either side...
We are spending too much on entitlements unfortunately....taxing the job creators will only bring in a minute fraction of what's needed. You are misguided...
Get control of spending...that's the key. Medicare is a boondogle. There's no competition. SS needs to be revamped. You have many people w/wealth who are getting benefits..its not what the program was intended for.....
The problem is you have 2 parties who won't make the tough choices...
Simpson Bowles was a good start (getting rid of deductions and broadening the base, along w/tackling entitlements) but most politicians wont budge on either side...
I agree that deficit spending is destroying our economy since the Federal Reserve is printing money to buy our own debt, thereby devaluing all of the wealth we have all accumulated.
Jobs are created when there is demand for goods and services. People need money in their pocket. Their savings and income are being depleted as more and more money is being concentrated in the hands of the top 1%. This is the road to a contracting economy. The more money that is in the hands of the middle class, the more that will be bought (greater demand) leading to more jobs and higher paying jobs.
Location: Unlike most on CD, I'm not afraid to give my location: Milwaukee, WI.
1,790 posts, read 4,155,926 times
Reputation: 4093
Quote:
Originally Posted by Jesse69
I don't like Republicans because all they want is tax cuts for the rich and to weaken Social Security and Medicare. They are harsh on the Middle class and poor, so I voted all democrat on my ballot..
Sounds to me like someone fell hook, line, and sinker for Democratic party propaganda/talking points.
Way to think for yourself
I have noticed in the past few years that every time Obama opens his mouth and speaks, the stock market goes down. But more money will not have to be paid to taxes because you have to make money to pay taxes. A lot of our stocks are below what we paid for them, so that means we could sell and pay no taxes.
I have noticed in the past few years that every time Obama opens his mouth and speaks, the stock market goes down. But more money will not have to be paid to taxes because you have to make money to pay taxes. A lot of our stocks are below what we paid for them, so that means we could sell and pay no taxes.
The stock market went up over 70% during the Obama term. Why? Because of the relentless government debt spending. Trillions of dollars of manufactured money. Much of which went to the stock market via speculators who can borrow money cheaply.
Unfortunately, what is good for the stock market under this scenario is bad for the U.S. family. Family income is the lowest it has been since the late 1980s. Our economy has become an economy of gamblers and speculators who are playing with cheap money offered up by the Federal Reserve.
We are spending too much on entitlements unfortunately....taxing the job creators will only bring in a minute fraction of what's needed. You are misguided...
Get control of spending...that's the key. Medicare is a boondogle. There's no competition. SS needs to be revamped. You have many people w/wealth who are getting benefits..its not what the program was intended for.....
The problem is you have 2 parties who won't make the tough choices...
Simpson Bowles was a good start (getting rid of deductions and broadening the base, along w/tackling entitlements) but most politicians wont budge on either side...
You swallowed the Fox propaganda hook line & sinker. The super rich are not job creators. They are job destroyers. The middle class do all the inventing & job creating. The rich buy up companies started by the middle class squeeze out the competitors jobs, fire workers & force the few remaining to work for peanuts so they don't have to share the profits with the workers that made them. The rich are the entitled takers while the middle class are the working inventing makers & job creators.
If you believe Social Security is such a money sucking boondoggle then please pay back all the money the rich took from it's huge surplus that funded the tax cuts for billionaires.
I agree that deficit spending is destroying our economy since the Federal Reserve is printing money to buy our own debt, thereby devaluing all of the wealth we have all accumulated.
Jobs are created when there is demand for goods and services. People need money in their pocket. Their savings and income are being depleted as more and more money is being concentrated in the hands of the top 1%. This is the road to a contracting economy. The more money that is in the hands of the middle class, the more that will be bought (greater demand) leading to more jobs and higher paying jobs.
you will get more if you broaden the base, eliminate loopholes...that to me will create wealth.
Unfortunately the right on this issue won't commit to eliminating things like the mortgage deduction because companies like the NAR who funnels huge amounts of money will raise hell...
And on the left, we need to tackle medicare/medicaid but all you hear is their base throwing things around like throwing granny off the cliff...
You swallowed the Fox propaganda hook line & sinker. The super rich are not job creators. They are job destroyers. The middle class do all the inventing & job creating. The rich buy up companies started by the middle class squeeze out the competitors jobs, fire workers & force the few remaining to work for peanuts so they don't have to share the profits with the workers that made them. The rich are the entitled takers while the middle class are the working inventing makers & job creators.
If you believe Social Security is such a money sucking boondoggle then please pay back all the money the rich took from it's huge surplus that funded the tax cuts for billionaires.
Of course you avoided the largest drain on our society which is socialized medicine "aka medicare". there are major reforms that must be taken because the program since its inception has gotten so big (it didn't get big just by LBJ...Nixon expanded it big time), that its out of control.
you will get more if you broaden the base, eliminate loopholes...that to me will create wealth.
Unfortunately the right on this issue won't commit to eliminating things like the mortgage deduction because companies like the NAR who funnels huge amounts of money will raise hell...
And on the left, we need to tackle medicare/medicaid but all you hear is their base throwing things around like throwing granny off the cliff...
That's why we cant get anything done....
I agree. The rich and powerful dominate representation, and as a result they funnel money into fewer and fewer pockets. Both Republicans and Democrats are acting on the behalf of the top 1%.
However, the general populace is getting poorer and they are looking for change. If the jobs of the Senators and Congressman are in jeopardy they may actually move more to the center, i.e. less spending and better revenue collection. Something to observe.
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