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.
Actually they have everything to do with the economy. Paying down the deficit does not produce one job. ONly 6% of Americans believe that the deficit is the number one problem. The majority of people polled believe that Jobs are the number 1 problem. Reich's proposal would stimulate job growth.
If we had any sense at all we would not be trying to get out of debt. Debt is the money supply, and shrinking the money supply contracts the economy.
The last stimulus didn't spend enough on infrastructure projects. It was a "paper stimulus" that went to state governments to keep them from having to choose between raising taxes and firing workers.
U.S. household net worth is about $60 trillion.
A 2% tax on net worth would give you $1.2 trillion/year in annual tax revenue, which would be a budget surplus. This could be done without raising income taxes, payroll taxes, or corporate taxes.
Maybe you can show the math on how you came up with this idea that taxing the rich wouldn't give us a budget surplus.
The definition of 'corporate welfare' is allowing corporations to do business in the united states without paying enough taxes, or occasionally, any taxes.
You are absolutely mistaken..... Do you think that a 2% tax on wealth/worth would lead to people just leaving the country and taking their spending with them?
If you want to stimulate other countries in the world as anyone with net worth flees, then go right ahead and do this.
Robert Reich is an idiot along with Paul Krugman..... Both Keynsian progressives.
Rather than spend exponentially more than what we can possibly ever pay for, we need to go back to a sustainable system.
Bank wants to speculate? You need $1 capital for every $ loaned or you can loan out against real assets....
You are absolutely mistaken..... Do you think that a 2% tax on wealth/worth would lead to people just leaving the country and taking their spending with them?
If you want to stimulate other countries in the world as anyone with net worth flees, then go right ahead and do this.
Robert Reich is an idiot along with Paul Krugman..... Both Keynsian progressives.
Rather than spend exponentially more than what we can possibly ever pay for, we need to go back to a sustainable system.
Bank wants to speculate? You need $1 capital for every $ loaned or you can loan out against real assets....
I agree. This is a tangent but, I remember when this economic crisis began, hearing business owners yelling that they could no longer aquire loans to make payroll. This is part of the problem. Borrowing constantly to keep a business afloat a while longer because you're too afraid to admit failure is not sustainable. Especially when 1000s of businesses engage in it simultaneously. Let the people who can do it do it. Not everyone is cut out to run a profitable business-- there's no shame in that.
I suspect that most Americans, including historians, forgot this after his actions led to the defeat of Hitler and Japan in WWII.
I don't know about that. We're talking about it now aren't we? It was part of the curriculum in the school district I attended, and I suspect that I am not alone.
Robert Reich is an idiot along with Paul Krugman..... Both Keynsian progressives.
I wouldnt go this far.. You see both of them base their ideaology on the fact that governments SAVE in good years, so they can THEN spend them in bad. Where they become idiots is when they mouth bs like they do constantly, they ignore the fact that the american government NEVER saves. if we could get it to save and pay down debt in good years, their programs hold a lot of value.
I like some of what he said, especially about ending the wars ... But he doesn't even talk about the free trade agreements that killed the manufacturing industry in this country.
Instead he says the government should spend more money to create jobs? Its up to the market to create jobs, not the fed. Government. And instead of raising taxes we need to get rid of the income tax altogether, that would boost the economy.
And he says we don't need to cut spending until we drastically reduce unemployment, but that is not gonna' work either, we have to cut spending and we have to do it NOW ...
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.
