How can America's leaders foster broad prosperity? For most Republicans — including Donald J. Trump — the main answer is to "cut and extract": Cut taxes and business regulations, including pesky restrictions on the extraction of natural resources, and the economy will boom.
Mr. Trump and House Speaker Paul Ryan are united by the conviction that cutting taxes — especially on corporations and the wealthy — is what drives growth.
A look at the states, however, suggests that they're wrong. Red states dominated by Republicans embrace cut and extract. Blue states dominated by Democrats do much more to maintain their investments in education, infrastructure, urban quality of life and human services — investments typically financed through more progressive state and local taxes. And despite what you may have heard, blue states are generally doing better.
http://www.nytimes.com/2016/07/31/opinion/campaign-stops/the-path-to-prosperity-is-blue.html
QuoteHow can America's leaders foster broad prosperity? For most Republicans — including Donald J. Trump — the main answer is to "cut and extract": Cut taxes and business regulations, including pesky restrictions on the extraction of natural resources, and the economy will boom.
Mr. Trump and House Speaker Paul Ryan are united by the conviction that cutting taxes — especially on corporations and the wealthy — is what drives growth.
Taxes are part of the equation, but a bigger one is finding a way to keep tax dollars in the USA. Facebook will pay $5,000,000,000 in taxes this year, 5 billion. So many companies have moved tax shelters overseas. You may never get that back, but its worth a shot.
When the economy is 2/3 run by americans spending money and you have entire industries decimated by the "global economy", yeah, they may never get back to being what they were in the 60s and 70s, but Industrial Output has been negative the last few quarters, and entire coal and steel plants have let go many workers, who would otherwise be spending money in their local economies. With GDP at 1.2% last quarter, its anemic, and while fear is a big part of the election, fear of terrorists, this could very well come down to "am I better off with 4 more years of Obama economics" or "try something else".
Quote from: mtraininjax on August 01, 2016, 04:08:37 PM
With GDP at 1.2% last quarter
Which is equal to or better than every other mature economy in the world. The global economy is in slow-growth mode. If the voters think either Trump or Hillary will usher in double-digit growth rates, they are going to be sorely disappointed. But as the piece I linked to says, if Ryan/McConnell get there way, the economy can be made a lot worse.
Quote from: mtraininjax on August 01, 2016, 04:08:37 PM
...fear is a big part of the election, fear of terrorists
Only to a subset of dim-witted Republicans. Most people know that you have a greater chance of being struck by lightning than you do being in a terrorist attack.
The US economy isn't going to recover until we abandon globalism, reduce government regulation on business, and raise taxes on corporations and high net-worth individuals. The 99%, Tea Party, Trump supporters, and Sanders supporters have far more in common with each other than the political leadership in both major parties want to admit because the return to Nationalism scares the globalist leadership to death.
We need a stock transaction tax. I suggest about 8%.
We need to cut off the importation of slave/indentured servants including the HB1 Visa program
Eliminate the capital gains tax rate. If your job is "Stock Investor" then pay the marginal tax rate for your income bracket
Eliminate tax-exemptions for investing in Wall-Street
Eliminate the home mortgage exemption
Index the minimum wage to a basket of social services - a person working 35 hours a week with a spose and 2 children should earn enough money to not qualify for any social services.
Get serious about funding mental health services
Eliminate the Federal Reserve, eliminate debt-based currency, and reintroduce government issued FIAT currency (want free college tuition? This is how you have to do it).
Get out of all Free Trade deals and put American workers first.
Exit NATO and dismantle the military industrial complex.
Switch from gasoline tax to mileage tax (so easy to do but the globalist don't want it - so they try to make it hard).
Get serious about mass transit
Quote from: Kerry on August 02, 2016, 12:08:40 AM
The US economy isn't going to recover until we abandon globalism, reduce government regulation on business, and raise taxes on corporations and high net-worth individuals. The 99%, Tea Party, Trump supporters, and Sanders supporters have far more in common with each other than the political leadership in both major parties want to admit because the return to Nationalism scares the globalist leadership to death.
We need a stock transaction tax. I suggest about 8%.
We need to cut off the importation of slave/indentured servants including the HB1 Visa program
Eliminate the capital gains tax rate. If your job is "Stock Investor" then pay the marginal tax rate for your income bracket
Eliminate tax-exemptions for investing in Wall-Street
Eliminate the home mortgage exemption
Index the minimum wage to a basket of social services - a person working 35 hours a week with a spose and 2 children should earn enough money to not qualify for any social services.
Get serious about funding mental health services
Eliminate the Federal Reserve, eliminate debt-based currency, and reintroduce government issued FIAT currency (want free college tuition? This is how you have to do it).
Get out of all Free Trade deals and put American workers first.
Exit NATO and dismantle the military industrial complex.
Switch from gasoline tax to mileage tax (so easy to do but the globalist don't want it - so they try to make it hard).
Get serious about mass transit
Isolationism has been a detriment to basically (possibly literally) every human society that has ever tried it since the evolution of our species (see Guns, Germs, and Steel). Globalism is certainly the reason manufacturing has moved offshore and displaced so many blue collar workers, but the drop-off is more a product of coming down from the very unnaturally advantaged position the US was in coming out of WW2 (and following our own failed bout of isolationism).
I think you can fix a lot of the problem with high frequency trading by introducing a very nominal transaction tax, 8% is pretty high for something there really is not solid basis for taxing (beyond the goal of reining in some bad actors).
And debt-based currency is the same thing as FIAT currency. I think some would argue any currency, even commodity based (which I assume you mean) is debt-based anyway.
Otherwise, I agree with some of those things.
Props to Mississippi for coming in last in 3 of the 5 categories. That is tough to do!