7 biggest economic lies by Robert Reich

[youpissmeoff]

Youre so way off base in so many of your replies I dont even know where to begin.

1. Is it poor people who are creating jobs?

No, but the rich arent either. This is a consumer based recession. More consumers = more demand. Giving tax breaks to the rich doesnt help. According to the CBO, cutting the payroll tax would be more than twice as effective for stimulating demand and, therefore, creating jobs than a tax cut for the wealthy.

I don't disagree that cutting payroll taxes will help stimulate consumption but at the same time, raising taxes on people over $250k will take money away from the businesses that are creating jobs. Summary lowering taxes good - raising taxes bad. See we are in agreement.

I dont think anybody is proposing a 91% tax. The uneducated are shitting bricks about simply raising the rates 4% higher than they are right now. A 4% increase in the top marginal tax rate wont send anybody anywhere.

Oh contrair Mr Reich in right there was saying that it does not matter what the upper tax bracket it in relation to jobs creations. He is wrong and his information is dated. Two totally different economies from the USA in the 50's and the USA today.


3lol @ jumping from government created jobs all the way to communism.

Look - you think the government needs more money to create more jobs, I think the people need more money to create more jobs. The extreme of your view is comunism. The extreme of my view is total free market. I think it has been proven free market works better. I am not for a totally unregulated free market and I do believe there are certain roles the government must provide, I just think right now it is more important that the government get its fiscal house in order. That being said, I think that lies more in entitlement spending that actually reducing the size of the big G right now.

Thats so full of shit its laughable. Companies arent hiring because people arent spending money. Why? Because people dont have money to spend. Why? Because housing crashed, and the vast majority of industries in the US are tied in some way, shape, or form to housing...hence people lost their jobs. Cue the negative feedback loop of a consumer driven recession.

Only those who dont know any better are concerned about the deficit in the short term. What are Treasury bond rates at? I rest my case.

You are way wrong there. Go listen to CEO's and why they are not hiring. They are scared shitless that they are inesting in a country with a broken government - no confidence.

You have a chicken and egg argument here. Consumption is down for 2 reasons 1) unemployment is up 2) confidence is down. If you hire more people you automatically are going to increase consumption. You have to do something about confidence now and that is proving you can govern in fiscally responsible way.


LMAO. Id love to hear a rational justification for that.

See above - LMAO that you think not having a balance budet is a viable future and you are an investment advisor? Really?

5. Agree on the former, not on the latter.

If you don't agree on the latter then you need to spend some time talking to Dr's. They are all desperate to get out of hospitals so they can quite giving away their services. About 50% of their work these days goes unpaid which just increases the cost for those paying the bills. Here you have the added problem that every mexican knows that they can go across the border and walk into a hospital and get treated for things they have not the money for back home.

True story - I have a Dr friend who was called to the emergency room the other day to translate. An elderly mexican lady was in there complaining of headache and needed treatement. As he talked to her, it comes out she had already been diagnosed with a brain tumor in Mexico but they told her to go get her business in order and say goodbye to her family. Instead they head across the border where relatives live, get to the emergency room and voila .. she gets fucking brain surgery on your nickle even though she is going to die sometime this year regardless.

 

[75th]

I don't disagree that cutting payroll taxes will help stimulate consumption but at the same time, raising taxes on people over $250k will take money away from the businesses that are creating jobs. Summary lowering taxes good - raising taxes bad. See we are in agreement.

Yes we are. 27%, 22%, and 15% should be the tax rates. No loopholes, no deductions. Lower taxes for everyone, but ensure that the wealthy are paying a higher & than the non-wealthy. Not that hard to comprehend.

Oh contrair Mr Reich in right there was saying that it does not matter what the upper tax bracket it in relation to jobs creations. He is wrong and his information is dated. Two totally different economies from the USA in the 50's and the USA today.

I meant nobody today is actually arguing seriously for that. See my post above. Lower rates across the board. Its just funny to see the GOP talk on and on about lower taxes yet oppose a payroll tax cut.

Look - you think the government needs more money to create more jobs, I think the people need more money to create more jobs. The extreme of your view is comunism. The extreme of my view is total free market. I think it has been proven free market works better. I am not for a totally unregulated free market and I do believe there are certain roles the government must provide, I just think right now it is more important that the government get its fiscal house in order. That being said, I think that lies more in entitlement spending that actually reducing the size of the big G right now.

I agree, but I dont see why we cant meet somewhere close to the middle. Theres nothing wrong with the government employing people as long as there is a balance between that and the standard free market economy.

You are way wrong there. Go listen to CEO's and why they are not hiring. They are scared shitless that they are inesting in a country with a broken government - no confidence.

Youre dead wrong. You think that if there was actually consumer demand businesses wouldnt hire because of the deficit?

Economists: Low Hiring Due To Consumer Weakness, Not Policy Doubts : It's All Politics : NPR

WSJ Survey: Lack of Demand, Not Uncertainty, Keeps Hiring Down - Catherine Hollander - NationalJournal.com

This isnt rocket science.

See above - LMAO that you think not having a balance budet is a viable future

See above. LMAO and thinking just because the government says that in the future they wont spend more than they take in will automatically tell business owners to hire.

and you are an investment advisor?

No.

 

[youpissmeoff]

lol @ refusing emergency medical services to anyone in need of them. Its tough to take anything you say seriously after something like that. I consider that on par with refusing to put someone's house out that is on fire, or responding to a 911 call for anything remotely serious.

As your state is on the verge of bankruptcy due to the fact that you are burdened with health care (emergency room), education and prison from illigal aliens, you might ought to think about that again.

Right now you are shutting down state parks - that you love to use and cutting back on college fundings again to allocate funds to the other.

I am not against indigent health care, I just believe it has to come from a State/County hospital that is set up for that and the patient has to waive all rights for malpractice and has to be a legal resident in the country.

You know right now, you have people going into hospitals claiming they don't have insurance because it is cheaper than having to co-pay with their insurance.

 

[musclemom]

As your state is on the verge of bankruptcy due to the fact that you are burdened with health care (emergency room), education and prison from illigal aliens, you might ought to think about that again.

Funny, the capital of my home state just filed for bankruptcy. Wonder how it's going to affect us? Pa. capital files for bankruptcy, roiling mayor - CBS News

HARRISBURG, Pa. - Pennsylvania's distressed capital city filed for bankruptcy Wednesday, citing "imminent jeopardy" from lawsuits related to a debt-saddled municipal incinerator and setting up a power struggle between the mayor and City Council.

The federal petition for Chapter 9 bankruptcy, being sought to help Harrisburg get out from under crushing debt, listed about $458 million in creditors and claims and six pending legal actions by creditors.

 

[mrplunkey]

Funny, the capital of my home state just filed for bankruptcy. Wonder how it's going to affect us? Pa. capital files for bankruptcy, roiling mayor - CBS News

I'd say their lending requirements going forward might change a *tad*.

 

[ledhead]

Ok.

I know better than to deal with you because whenever Ive tried having a mature discussion and support my arguments with studies, facts, figures, etc (all that garbage that folks like you and plunkey abhor) you simply fall back on "wtf thats a commie propaganda link!!!@@#!@11" when it's a link to a study done by the CBO.

You're an idiot. You've proven as much in your posts. It's not worth my time to try and have a rational discussion with someone who thinks quoting the bible is "backing up their argument with facts."

You know better to deal with me, you were the one who took a potshot at me. What are you talking about? I posted an outstanding, irrefutable post and you insulted me because it does not line up with your philosophy of life. That is immature behavior. Again, there is a lack of comprehension on your part, you do not understand history terms. I used the best possible "probability" in that thread to back up my argument. There is no concrete evidence to prove Jesus' existence except the bible, so I used the best source available, that is how it works if you do not have concrete evidence, do you understand???? It is detective work, the best possible "probability." Which I proved... I gave my opinion in this thread and you insulted me. I am no angel, but you are wrong this time.

 

[75th]

lol

 

[75th]

fyi see youpissmeoff above. We obviously dont agree, but were actually having an intelligent debate.

Its possible, just not with folks like yourself.

 

[mrplunkey]

fyi see youpissmeoff above. We obviously dont agree, but were actually having an intelligent debate.

Its possible, just not with folks like yourself.

No, it's not. You're as bad as redsam, just slightly (and I do mean slightly) more articulate.

And lol @ "lol" -- that's what you use when you're out of gas.

 

[ledhead]

100% of the people on this post know I'm right.

Surely you aren't going to argue with 100% !!!!

100% !!!!

You are always right, ultra right. You are a genius afterall, you can read "braille." I cannot read half of these posts and you can, I am impressed! Anne Sullivan has nothing on you.