Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Time for the Fakestream media to find reasons why high GDP growth, low unemployment, fair trade, making others (NATO) pay the bills they owe you, peace with Noko, ISIS getting wiped out, and the US setting a world record in reduction of carbon emissions in 2017 are all bad somehow.
Last edited by Tall Traveler; 07-29-2018 at 08:13 PM..
GDP growth rates are a lagging indicator and doesn't say anything about the future. For example, the longest period of economic growth in US history was from 1991 to 2001. The S&P 500 also peaked in 2000 (growth rate was at 4.1% for the year), a year before the recession started. We're going to have to wait and see what happens in the future after Powell boosts the Fed fund rate a few more times and see what the effects the tariffs have on the economy.
Nice idea TT but the country being 20+ trillion in debt and rising where is the money going to come from to pay for all this infrastructure up grade?
The US isn't exactly in that bad if a shape financially. Twenty trillion in debt is a big number, but that us actually about the size of our annual GDP...which is a major reason why the government's bond rating remains excellent even in an era of large tax cuts. If you heard that someone was six million in debt...you might think that person had a serious debt problem. Until you found out that the person in question was, say, Bill Gates. And, unlike debt owed by an individual the debt does not have to be repaid prior to retirement, etc. The payments just have to stay manageable, which they are. Hence the excellent bond ratings.
About forty percent if the national debt is money the government actually owes to itself/the Federal Reserve.
Another ten trillion is owed to Americans...the government collects part of the interest payments it pays to them in the form of taxes on the income...as well as potentially other tax revenue depending on how they spend it.
China actually owns eight percent of our debt...a concerning amount but not nearly as big of a stake as some appear to believe.
The debt is a major concern, and it's growth needs to be curbed...
but...
the sky is not falling
Not even close.
Last edited by robertbrianbush; 07-30-2018 at 12:43 AM..
You are looking at it backwards. I agree many corporations wanted to get rid of the unions but it was NAFTA that made it much easier.
NAFTA and China's favored nation status helped corporations gain an edge on unions and workers. Suddenly they had an ace in the hole. Workers go on strike or demand more and the company can simply move the plant out of the country. That is what happened. The unions no longer had the power they once had. So workers no longer needed them. And they were thought of as a villain to many because they pushed companies into moving the plant out of the country.
Can't European firms do the same? Including poorer parts of the EU such as Eastern Europe, the Balkans, or Turkey?
"It is a regressive tax. It hurts poor people more than wealthier people."
More B.S. myth the libs like to spread.
Say a poor person buys a bottle of whiskey ( this is only make believe because we KNOW liquor stores do NOT exist in poor areas) and it costs $10.00
Say the VAT ax is 10% The poor person would have to have to pay $1.00 in taxes.
The "wealthy" person buys a new Cadillac and the price is $75,000.
How much tax will he have to pay at 10%?
Or the "wealthy" person buys a send home for vacationing, ( the poor do NOT own a home in most cases), the house cost $200,000. What is the tax on that?
Maybe it needs to be remodeled.
NOW the new house has to be furnished.
The "wealthy" people have a BIGGER Cost of LIVING, MORE money and they SPEND MORE. MORE in clothing, MORE in food and drink, MORE in EVERYTHING which results in THEM paying MORE in taxes.
It ain't rocket science.
And may on the left call us "UN-educated"!
What you are not realizing is that a wealthy person can afford a tax of, say, ten percent of expenditures much, much more easily than a poor person. A poor person cannot...that same percentage tax...even though a smaller dollar amount...is not discretionary money...it is cutting into money vitally needed for absolute bare necessities such as housing, medicine, food, etc. They often can't cut any more corners because they have already cut every corner that can be cut...living in the worst neighborhoods, eating the cheapest but unhealthiest food, driving an old clunker or no car at all, etc. The same percentage tax wise hits someone with no discretionary money much harder than it would a wealthy person...even though the wealthy person pays a higher dollar amount. The wealthy person just has to make due with fewer luxuries.
Who us going to suffer more from a ten percent tax...someone from Beverly Hills or the Upper East Side of Manhattan veesus a laid off fifty-five year old factory worker or a single mom trying to hold down two restaurant jobs to feed her kids? We know who is going to pay more dollarwise, but who is going to suffer the most from the tax? Who is more likely to be on a bigger burden on society because of the loss of that incone?
Last edited by robertbrianbush; 07-30-2018 at 12:25 AM..
The UK Economy was hit by the financial crisis, as the country relies on the financial sector and more recently Brexit uncertainty has caused further problems. The US a country with much larger natural resources, can not easily be compared to the UK.
Part of the reason for the economic growth is indeed the $1.5tn in tax cuts earlier this year by Trump, however whether growth rates are sustainable ia another question and most of the beneficiaries of this have been the wealthy. The UK by contrast has imposed strict spending limits and has not cut taxes, which is why it's budget deficit of around $60 Billion is relatively small by contrast and is being reduced year on year.
At the same time as these massive tax cuts, the US budget deficit keeps increasing (it will over$1 Trillion in the next few years) and American infrastructure continues to crumble, and yet Trump supporters try to blame everything on Europe or China, and even orgaisations such as NATO which accounts for less than 5% of US Defence spending.
The American people are being ripped off, but not by Europe, by a wealthy elite that just keeps imposing tax cuts for itself, and the so called swamp is now even wrorse. Perhaps that's why Trump is so fond of Putin has the wealthy organised crime elite inb Russia have similarly ripped off the ordinary Russian people.
Quote:
Originally Posted by Tall Traveler
Time for the Fakestream media to find reasons why high GDP growth, low unemployment, fair trade, making others (NATO) pay the bills they owe you, peace with Noko, ISIS getting wiped out, and the US setting a world record in reduction of carbon emissions in 2017 are all bad somehow.
The UK was already paying 2% GDP in terms of defence and the 2% NATO guideline is in relation to 2024, whilst trading was already very fair in terms of the EU and US with tariffs averaging less than 3%.
In terms of carbon, other countries have already reduced it massively due to solar and alternative forms of energy now being cheaper than coal and traditional energy. The UK will have no coal powered energy by 2025.
Last edited by Brave New World; 07-30-2018 at 03:48 AM..
The infrastructure is crumbling, ordinary wages are stagnating, and banks are reverting to their greedy habits.
"The infrastructure is crumbling," Most STATE/county/city infrastructure.
I am amazed, not really, so so many libs want Uncle Sam to bail them out when it is convenient, they wouldn't DARE hold their LOCAL politicians feet to the fire but blame Trump because their gov or mayor is a crook, then want the feds to stay out of the illegal imagination problems.
"ordinary wages are stagnating"
They were staggering under Obama nod NOT A WORD of COMPLAINT then. HMM!
Beside they are NOT staggering. just MORE lies.
"and banks are reverting to their greedy habits."
If you think your bank is "greedy" DON'T do business with them. It is THAT easy.
Then again may libs think if ANY business is making money they are greedy blood suckers!
Would you like to see EVERY BANK in the U.S close PERMANENTLY? I'd bet that wouldn't make you happy.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
