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Old 07-07-2011, 04:46 PM
 
2,515 posts, read 1,718,167 times
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Quote:
Originally Posted by shorebaby View Post
I have no idea what else to say to this proposal.
Well do you have another way to get full employment in this decade? Japan is 21 years into their popping real estate bubble and they aren't done yet. They still haven't hit bottom.
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Old 07-07-2011, 04:49 PM
 
Location: Hoboken
19,891 posts, read 16,268,112 times
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Quote:
Originally Posted by newonecoming2 View Post
Well do you have another way to get full employment in this decade? Japan is 21 years into their popping real estate bubble and they aren't done yet. They still haven't hit bottom.
Yeah, cut taxes and regulation. Get the government out of the way of job creation. Our loony tax code prevents repatriation of oversees profits by American companies. There are many ways to get things going other than cranking up the printing press.
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Old 07-07-2011, 04:49 PM
 
Location: Syracuse, New York
3,113 posts, read 2,514,584 times
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Reduce the tip withholding rate of the so-called waitress tax from 8 to 6 percent. Make it a credit so that waitstaff can't claim their earnings were reduced, thus more easily qualifing for government benefits.

Young men and women spend like crazy!
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Old 07-07-2011, 04:54 PM
 
Location: Long Island, NY
19,715 posts, read 11,519,482 times
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Quote:
Originally Posted by hotair2 View Post
For the sake of argument, lets assume that tax increases hurt the economy and tax cuts hurt the economy.

What are some of the things that can be done to create jobs that does not involve reduction on spending or increases on taxes?

A large problem is the trade deficit.

Below are graphs that show the trade decit and trading partners, as you can see, the wheels started falling of about the same time that our deficit started getting larger. There is certainly a correlation.

The US Trade Deficit

How do we fix the trade deficit? I have not heard either side addressing this problem.
The first thing you do is not frame the discussion as the economy is the trade deficit or budget deficit. What you do is have expansionary polices, instead of talking about cutting government spending we should be talking about another stimulus.

Quote:
One of the most influential investors in the world of finance has a message for lawmakers -- particularly conservative lawmakers -- on Capitol Hill: rejoin the real world.

In a prospectus for clients, Bill Gross, a co-founder of investment management giant PIMCO, says members' of Congress incessant focus on deficit -- and in particular, the manner in which they obsess about deficits -- is foolhardy, and a recipe for disaster. What the country needs, Gross said, is real stimulus now, and a measured return toward fiscal balance in the years ahead.

"Solutions from policymakers on the right or left, however, seem focused almost exclusively on rectifying or reducing our budget deficit as a panacea," Gross writes.
...
Both parties, in fact, are moving to anti-Keynesian policy orientations, which deny additional stimulus and make rather awkward and unsubstantiated claims that if you balance the budget, "they will come." It is envisioned that corporations or investors will somehow overnight be attracted to the revived competitiveness of the U.S. labor market: Politicians feel that fiscal conservatism equates to job growth. It's difficult to believe, however, that an American-based corporation, with profits as its primary focus, can somehow be wooed back to American soil with a feeble and historically unjustified assurance that Social Security will be now secure or that medical care inflation will disinflate. Admittedly, those are long-term requirements for a stable and healthy economy, but fiscal balance alone will not likely produce 20 million jobs over the next decade. The move towards it, in fact, if implemented too quickly, could stultify economic growth. Fed Chairman Bernanke has said as much, suggesting the urgency of a congressional medium-term plan to reduce the deficit but that immediate cuts are self-defeating if they were to undercut the still-fragile economy.
PIMCO Founder To Deficit-Obsessed Congress: Get Back To Reality | TPMDC
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Old 07-07-2011, 05:04 PM
 
29,584 posts, read 16,324,421 times
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We stop pretending like Keynesian policies have done anything but make it worse ^
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Old 07-07-2011, 05:14 PM
 
2,515 posts, read 1,718,167 times
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Quote:
Originally Posted by shorebaby View Post
Yeah, cut taxes and regulation. Get the government out of the way of job creation. Our loony tax code prevents repatriation of oversees profits by American companies. There are many ways to get things going other than cranking up the printing press.
OK there are lots of problems that need to be addressed, Cutting regulation would be a big help, cutting taxes not so much so. But if we get a big spike in consumer spending then we will tend to get a spike in employment as well. The printing press is already in overdrive.

World wide there was an expansion in the world’s monetary base from $3 trillion to $10 trillion over the past 10 years with that money being used to buy debt in the US. The economy is missing that printed money. You can print a bunch of money with out getting inflation if you pull the money out of circulation as fast as you print it.

But if you want full employment any time soon you can’t get it any other way than with the use of the printing press.
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Old 07-07-2011, 05:15 PM
 
Location: Long Island, NY
19,715 posts, read 11,519,482 times
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Quote:
Originally Posted by Frank DeForrest View Post
We stop pretending like Keynesian policies have done anything but make it worse ^
That's a particularly ignorant comment that can only be believed if one ignores facts and evidence.
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Old 07-07-2011, 05:16 PM
 
2,515 posts, read 1,718,167 times
Reputation: 362
Quote:
Originally Posted by Frank DeForrest View Post
We stop pretending like Keynesian policies have done anything but make it worse ^
You said it. What they did in the 1930's was to give everyone hope what we have now is pretend it isn't as bad as it is. the real unemployment rate is far higher then the published one. The amount they are paying out is far higher than what they are saying is the unemployment rate.
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Old 07-07-2011, 05:17 PM
 
2,515 posts, read 1,718,167 times
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Quote:
Originally Posted by MTAtech View Post
That's a particularly ignorant comment that can only be believed if one ignores facts and evidence.
I would agree with you if you stipulate that the evidence is in part fabricated.
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Old 07-07-2011, 05:22 PM
 
Location: Hoboken
19,891 posts, read 16,268,112 times
Reputation: 3123
Quote:
Originally Posted by newonecoming2 View Post
OK there are lots of problems that need to be addressed, Cutting regulation would be a big help, cutting taxes not so much so. But if we get a big spike in consumer spending then we will tend to get a spike in employment as well. The printing press is already in overdrive.

World wide there was an expansion in the world’s monetary base from $3 trillion to $10 trillion over the past 10 years with that money being used to buy debt in the US. The economy is missing that printed money. You can print a bunch of money with out getting inflation if you pull the money out of circulation as fast as you print it.

But if you want full employment any time soon you can’t get it any other way than with the use of the printing press.
Well clearly that's not true $700 billion in stimulus later.
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