Quote:
Originally Posted by bobtn
And I also favor either retaining all 3 (Bush full cuts, SS cut, and extended ui) or ZERO of them permanently. With 1 up or down vote. Few Dems would be BRAVE enough to vote, though. |
That's a gross mistake.
You don't have any choice. You have to let the tax cuts expire, and stop paying U/I. The logic of U/I is to tie people over until they get another job, but when no jobs exist, and won't exist it's pointless and waste of money. There is no magical formula for employment.
Each
0.X% of GDP does not equate to
N,000 Jobs anymore than each
$X Million in Government Spending equates to
N,000 Jobs. That might not be what people want to hear, but it is the truth.
Recessions eliminate inefficiency and waste, and you have a lot of that from federal government to State government to county and local government, and in your manufacturing, wholesale, retail and service industry (and especially in your health care industries). Recession creates excess/surplus labor and that condition persists until Capital is shifted to more efficient and productive uses.
We saw that in the 1990s. The Cold War ends, you have surplus excess Capital in the Defense sector of the Economy. That excess Capital exists in the form of Labor, Cash (stocks/bonds/cash) plus parts and machinery, semi-finished goods and raw goods. The Recession did not last long, because the Capital (Labor) was shifted to other uses immediately.
But that does not always happen, and there is no guarantee it will happen and you cannot force it to happen. Sometimes excess/surplus Labor is nothing more than excess/surplus Labor. What do you? Nothing, because there is nothing you can do, and there is no place for that excess/surplus Labor to be utilized.
You're a post-Industrialized State, not some 2nd World or 3rd World State that has additional new possibilities for Labor/Market expansion that will absorb the excess labor you have.
So you're going to waste tax dollars by throwing them at jobs that should not exist and never will exist? That ain't too smart. It costs a lot of money to create absolutely nothing very slowly.
I told you all in 2007 that you would permanently lose millions of jobs and that some people would never work again.
Here's the definition of "never" for the clueless:
Never - Definition and More from the Free Merriam-Webster Dictionary
The FICA tax holiday is a stupid idea.
It results in the government cutting spending, except the government doesn't know how to do that, so it ends up borrowing even more money, and the Nation Debt increases that much faster.
As I said, at current rates the US National Debt will equal World GDP by 2040.
None of them, um, "economic wizards" on C-D have tackled that, and rather conspicuously avoided it. They don't necessarily have to, I would just be happen if they would address US National Debt as 1/3 of World GDP by 2020-2022.
If you want to keep Social Security and Medicare then you must do two things, first, you have to eliminate the tax cap, and then you have raise FICA taxes to a minimum of 9% by 2014, and then you must have regularly scheduled FICA tax increases to 16.4% by 2040.
And if you do that, then by 2040, you'll only have to cut Social Security benefits by 12%-15%, unless you start means-testing.
All you're doing is digging your grave deeper in preparation for Austerityâ„¢.
You need to restore the personal income tax rates, increase FICA and stop paying extended U/I and start dealing with Realityâ„¢.
You must also cut spending, and no, I don't mean giving HUD a planned increase of 14% and then reducing the planned increase to 11% and then screaming the sky is falling. That is not a spending cut. A spending cut is taking HUD's budget and increasing it by -15% for the next 10 years until your budget is balanced and you have a budget surplus instead of a budget deficit.
Logically....
Mircea
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If the GOP wasn't doing such a horrific job, they never would have gotten their rears handed to them in 06' when the democrats took both houses. Thank god they did, who knows how horrific things would be now with even a second more of GOP control.
