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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.
Get out of NAFTA, WTO, rescind China's most favored status. Sure trade wars will result, but China needs us as much as we need them. We are such a huge market for them that if they put tariffs on us, their economy tanks into a deep recession at the least
the trade deficit is correlated with the problem, but not the cause. another way to look at it is that we are shipping them paper, in exchange for goods.
Get out of NAFTA, WTO, rescind China's most favored status. Sure trade wars will result, but China needs us as much as we need them. We are such a huge market for them that if they put tariffs on us, their economy tanks into a deep recession at the least
Here is hitorical trade with China. We are on the losing end of this deal by far.
Yes, China is a huge problem. The biggest problem is that they don't play on an even playing field. They float their currency. They ignore Copywrite laws and patents. You can find just about any product produced in the U.S. in China, except it has be reverse engineered without any royalty payments to the U.S. companies. We invent and they copy.
the trade deficit is correlated with the problem, but not the cause. another way to look at it is that we are shipping them paper, in exchange for goods.
Well 7 years ago it was pretty dang bad, are you saying that it is better now? Please show me a cite.
Also, what is your solution to the problem of economic growth?
Yes, China is a huge problem. The biggest problem is that they don't play on an even playing field. They float their currency. They ignore Copywrite laws and patents. You can find just about any product produced in the U.S. in China, except it has be reverse engineered without any royalty payments to the U.S. companies. We invent and they copy.
China is trying to wean itself off the U.S. by doing that. GE plays into it by selling them airplane propulsion technology. This is all been pre-engineered. The goal is to collapse the U.S. from behind the curtain.
China is trying to wean itself off the U.S. by doing that. GE plays into it by selling them airplane propulsion technology. This is all been pre-engineered. The goal is to collapse the U.S. from behind the curtain.
It is not fair trade, if the other side is not playing fair.
"China could do much to reduce this imbalance by revaluing its highly undervalued currency, giving up energy subsidies for exports, and forgoing the dumping of exports in the U.S. markets."
Until China starts playing by the rules, why not put a tariff on all Chinese goods. Lets have a fair playing field.
We need to change the ratio between debt and income. We don’t have enough income to service the debt we have. We need more savings. With more savings comes less consumption and more production, balanced trade. We need cash to spend. Printing money and giving it to everyone to spend will tend to drive employment. The government has outgrown its tax base, so we need a bigger tax base or a smaller government or both.
So upping the minimum wage to $30/hr
Starting a national savings program in banks not the stock market.
Taxing the payment of debts.
And giving people money to spend.
Those four things will get the economy growing sustainable.
Sigh, The government doesn't create jobs, the private sector does. The government can only create an environment that is friendly or hostile business and thus job creation.
Well 7 years ago it was pretty dang bad, are you saying that it is better now? Please show me a cite.
Show you a cite for what? The position I didn't take?
Quote:
Also, what is your solution to the problem of economic growth?
i don't care about growth so much as i care about the state of the labor market, whether our workers are well utilized, quality of life, real wages, affordable healthcare, affordable housing, what we can buy with the median income, ... things that are not easily measured by a number. The solution to those depends on the problem, and there are a lot of different problems. I tend to think that competition in markets, a little bit of antitrust, is what we need in most cases (healthcare and banking). We also need a flattening of tax rates, and an extreme simplification of the tax system to reduce distortion caused by government trying to "pick a winner". We also need to spend money on the government side on infrastructure. We need to discourage unionizing, while encouraging the third world to unionize as fast as they can. We need to put some adults in charge of the currency, simplify their jobs, and limit their authority to set policy. These are a few ideas.
if you want things to grow, then print money, and/or legislate your growth in an environment where private companies take the profit while the taxpayer holds the risk. we did it for years, it's not hard. GDP will rise, corporate earnings will rise. The average goes up while the median goes down.
Last edited by le roi; 07-07-2011 at 04:22 PM..
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