The Reaganomics Fraud:

[mrplunkey]

Ah irony....

And that gets you out from underneath being busted for false figures how exactly?

 

[Mr. dB]

News Headlines

 

[mrplunkey]

News Headlines

12.6% unemployment and holding

http://economicsnewspaper.com/world...loyment-steady-in-february-at-12-3-15375.html

And a -8 GDP growth rate to boot.

They creamed-off the top 1/13th of Yugoslavia's people and assets, and still can't pull it off with that tax rate.

That may be the worst blown lead in history.

 

[mrplunkey]

News Headlines

Mr. DB... no more follow-up on your Solvinia poster child? Here's an interesting excerpt I found:

In the days of former dictator Josip Tito, Slovenia was already the economic engine of Yugoslavia, a confederation of several ethnic groups. The funds Slovenia pumped into the Yugoslav coffers were used to prop up the poorer republics in the south. It remained largely unscathed by the Balkan wars, and the Slovenian army spent only ten days fighting minor skirmishes with Yugoslav units immediately after the country proclaimed its independence in 1991.

So let's see... 1/13th of the population cut the economic heart out of Yugoslovia. While the other states were wracked by war and genocide, they fought for 10 days total. Surrounded by misery, they could/should have dominated the region with exports for decades.

And instead, they hoisted a 34% of GDP tax rate on their people. What happened? They blew their lead within a few years.

Great example! Keep them coming.

 

[Mr. dB]

Mr. DB... no more follow-up on your Solvinia poster child? Here's an interesting excerpt I found:



So let's see... 1/13th of the population cut the economic heart out of Yugoslovia. While the other states were wracked by war and genocide, they fought for 10 days total. Surrounded by misery, they could/should have dominated the region with exports for decades.

And instead, they hoisted a 34% of GDP tax rate on their people. What happened? They blew their lead within a few years.

Great example! Keep them coming.

Keep them spinning.

My purpose in posting that list of high-tax nations wasn't to hold them up as some sort of ideal, but to show you that the rich have it easy here.

 

[javaguru]

Any capital that is "freed up" will be from shifting the burden to the lower and middle classes, right?

How is that not also class warfare?

There will always be an "elite" in society that controls the majority of resources. I'll go with the capitalist elite over the government elite because at least they function under the profit motive as opposed to the force motive and I'm more likely to advance my economic position under the profit motive as opposed to the centrally planned government economy.

I just ask people to look at history and decide whether big government is the best way of regulating society. If you think 10%+ unemployment should be the norm along with 2%-3% economic growth then vote for a Euro style welfare state.

The class warfare debate is predictable because the average American reaps multiples in benefits from what they pay in programs that are supposed to be insurance...medicare and social security...Of course people will vote for other people to subsidize their lifestyle.

Even the founders wrote about the danger of the masses being able to vote themselves public money.

 

[mrplunkey]

Keep them spinning.

My purpose in posting that list of high-tax nations wasn't to hold them up as some sort of ideal, but to show you that the rich have it easy here.

Well you won't have to worry about their "rich" that long. With that tax rate, the only rich left will be the political class that can simply ignore taxes (you know, like Geithner did and GE still does).

 

[Mr. dB]

Well you won't have to worry about their "rich" that long. With that tax rate, the only rich left will be the political class that can simply ignore taxes (you know, like Geithner did and GE still does).

With what tax rate? 35%

 

[Dial_tone]

News Headlines

From the link:

And in case you were wondering, the lowest tax rates in the world as a percentage of GDP are:

1. Mexico: 17.5
2. Chile 18.2
3. United States: 24.0
4. Turkey: 24.6
5. Korea: 25.6
6. Ireland 27.8
7. Slovak Republic: 29.3
8. Greece: 29.4
9. Switzerland: 30.3
10. Spain: 30.7

So, what's everyone complaining about? We should be more like Mexico?

 

[Redrocker13]

From the link:


So, what's everyone complaining about? We should be more like Mexico?

I trust that is a composite of the income tax rate?!? Because 24% is NOT the whole of the taxes we pay! Not even close.