The Federal Reserve Meets the Land of Oz

[Bugeye]

They just need to rip the Band-Aid off..

Yeah, politically that's a bitch to do! But I agree.

 

[ttystikk]

I understand the sentiment! I'm for tweaking tax codes to maximize revenue collections, because we need to get our debt paid down. I'd like to see our debt load held to no more than 80% of GDP, but it will be very difficult to get back to that level now. I think we may be past the theoretical spot on the laffler curve where decreased tax rates increase tax collections like under Kennedy and Reagan.

The problem is even worse than that; corporations don't pay to borrow money and they don't pay taxes, so where's the incentive to save?

Worse, large swaths of our economy are now under the control of 'banks'- investment firms really- that have every incentive to break the rules and have no fear of bankruptcy because they're 'too big to fail', yet another complete end run around the rules the rest of us play by.

Small business is screwed when competing against major corporatism not only on the historical economies of scale, but now also by credit terms and even regulations.

None of this, in my opinion, is in any way unintentional; big corps and those who own them DON'T WANT anyone to prosper like they do, because it would mean a dilution of their own power.

 

[ttystikk]

Yeah, politically that's a bitch to do! But I agree.

What does that actually look like in real terms?

 

[schuylaar]

Yeah, politically that's a
bitch to do! But I agree.

That's why Sanders would've been a step in the right direction.

No president gets everything done.

 

[Bugeye]

What does that actually look like in real terms?

Good question, in hindsight it is easy to look back and armchair quarterback but making the best decision for a nation in real time is hard. Beyond my abilities. But letting businesses fail would be one specific thing. Politically difficult because it does mean increased short term pain for decent working people. Cutting the Federal budget is another one I favor, across the board for discretionary spending and increased age and means testing for future retirees on social security and Medicare, reductions in military spending, reduce it all. The Fed Reserve needs to interfere a little less and accept that economic downturns are normal.

 

[Bugeye]

That's why Sanders would've been a step in the right direction.

No president gets everything done.

I think Sanders would be president now if he had gotten the nomination. I could not buy into his fiscal plans but liked his position on many social issues enough that I could have supported him. Hillary/Trump was no win for me.

 

[ttystikk]

Good question, in hindsight it is easy to look back and armchair quarterback but making the best decision for a nation in real time is hard. Beyond my abilities. But letting businesses fail would be one specific thing. Politically difficult because it does mean increased short term pain for decent working people. Cutting the Federal budget is another one I favor, across the board for discretionary spending and increased age and means testing for future retirees on social security and Medicare, reductions in military spending, reduce it all. The Fed Reserve needs to interfere a little less and accept that economic downturns are normal.

I guess I'm more of a leftist;
Rather than making ordinary people suffer EVEN MORE, I'd rather see corporations and the rich pay what wage earners do as a percentage of their income.

It's well known that the bottom 90% of income earners in this country make less than half of all the income, so I think it's not only unfair but bad policy to attempt to extract even more from them.

The ship of state would right itself immediately if the Walmarts, General Electrics, ExxonMobils, Lockheed Martins, Cargills and Goldman Sachs of our country started paying taxes. In many cases their net tax burden is currently NEGATIVE due to the subsidies and credits they currently get.

Instead of subsidizing these corporations to keep prices artificially low, why not raise wages instead? The discretionary income of the burgeoning middle class is exactly what made our nation the economic Great Power everyone remembers.

There is no reason we can't do it again. None, that is, besides epidemic levels of corruption in our political system.

Call it a New Deal.

 

[ttystikk]

I think Sanders would be president now if he had gotten the nomination. I could not buy into his fiscal plans but liked his position on many social issues enough that I could have supported him. Hillary/Trump was no win for me.

It was stolen from him unfairly.

His major initiative would likely have been doing up the river of money pouring into American politics; campaign finance, lobbying, SuperPACs, etc. That alone would change the course of our country.

 

[Bugeye]

I guess I'm more of a leftist;
Rather than making ordinary people suffer EVEN MORE, I'd rather see corporations and the rich pay what wage earners do as a percentage of their income.

It's well known that the bottom 90% of income earners in this country make less than half of all the income, so I think it's not only unfair but bad policy to attempt to extract even more from them.

The ship of state would right itself immediately if the Walmarts, General Electrics, ExxonMobils, Lockheed Martins, Cargills and Goldman Sachs of our country started paying taxes. In many cases their net tax burden is currently NEGATIVE due to the subsidies and credits they currently get.

Instead of subsidizing these corporations to keep prices artificially low, why not raise wages instead? The discretionary income of the burgeoning middle class is exactly what made our nation the economic Great Power everyone remembers.

There is no reason we can't do it again. None, that is, besides epidemic levels of corruption in our political system.

Call it a New Deal.

I never worked for a corporation that got subsidies so I may not know what you're talking about. I'm aware of tax credits being given out at a more local level for local taxes, to convince new business to come to an area. At the federal tax level, the corporations I'm aware of that have negative tax obligations are doing so under operating loss carry forward provisions. I haven't really been in this world for more than a decade so can't say I'm current on the topic.

There is a school of thought that says all corporate taxes are actually paid by the customer. What are your thoughts on that?

I have no dog in this fight, just curious on your thoughts.

 

[UncleBuck]

Are you ever going to tell how the undercover fooled you into trying to sell pounds and pounds out of state ? Did he smell you smoking at the lake and said "that smells loud". In which you replied " I'm the man I always wanted to be. I grow pounds and pounds. I have my wife and her sister chained in the house, just trimming away. Cool Illinois shirt "

that's pretty much exactly how i imagine it happened.

 

[UncleBuck]

I think Sanders would be president now if he had gotten the nomination. I could not buy into his fiscal plans but liked his position on many social issues enough that I could have supported him. Hillary/Trump was no win for me.

you also think the proven worldwide healthcare model is a sham and that global warming is a hoax, so we have to consider what a dumbass you are before we consider anything else.

 

[Bugeye]

you also think the proven worldwide healthcare model is a sham and that global warming is a hoax, so we have to consider what a dumbass you are before we consider anything else.

Cheers! I'm out.

 

[ttystikk]

If you say so Mr Snitch. Are you not the one who first checked IP addy to see who was who when you had mod powers.
If you think to rejoin a weed site after just being release out of prison, to troll as a racist fat chick is funny, productive or cool , then so be it. How old are you again ?

Are you ever going to tell how the undercover fooled you into trying to sell pounds and pounds out of state ? Did he smell you smoking at the lake and said "that smells loud". In which you replied " I'm the man I always wanted to be. I grow pounds and pounds. I have my wife and her sister chained in the house, just trimming away. Cool Illinois shirt "

WTF does this have to do with the thread topic?

 

[ttystikk]

Cheers! I'm out.

He shits on the floor of every thread; don't let him chase you out of this one.

I may not agree with everything you say, but I do want to hear it.

 

[ttystikk]

you also think the proven worldwide healthcare model is a sham and that global warming is a hoax, so we have to consider what a dumbass you are before we consider anything else.

WTF does this have to do with the thread topic?

Can you please not ruin EVERY THREAD you come into?

I understand you have an agenda, but the end result is just trashing every conversation. That does not achieve your aims, much as I might support them.

 

[UncleBuck]

WTF does this have to do with the thread topic?

Can you please not ruin EVERY THREAD you come into?

I understand you have an agenda, but the end result is just trashing every conversation. That does not achieve your aims, much as I might support them.

bugeye is a piece of shit. so really, i'm shitting on a piece of shit. not the floor.

although i did once shit on a floor, and it was hilarious.

 

[ttystikk]

bugeye is a piece of shit. so really, i'm shitting on a piece of shit. not the floor.

although i did once shit on a floor, and it was hilarious.

I think I saw the security cam video.

Can you try to do it while remaining relevant to the thread topic, at least?

In fact, I'd like your opinion on the subject.

 

[fdd2blk]

WTF does this have to do with the thread topic?

Can you please not ruin EVERY THREAD you come into?

I understand you have an agenda, but the end result is just trashing every conversation. That does not achieve your aims, much as I might support them.

No one here likes him.

 

[NLXSK1]

I guess I'm more of a leftist;
Rather than making ordinary people suffer EVEN MORE, I'd rather see corporations and the rich pay what wage earners do as a percentage of their income.

It's well known that the bottom 90% of income earners in this country make less than half of all the income, so I think it's not only unfair but bad policy to attempt to extract even more from them.

The ship of state would right itself immediately if the Walmarts, General Electrics, ExxonMobils, Lockheed Martins, Cargills and Goldman Sachs of our country started paying taxes. In many cases their net tax burden is currently NEGATIVE due to the subsidies and credits they currently get.

Instead of subsidizing these corporations to keep prices artificially low, why not raise wages instead? The discretionary income of the burgeoning middle class is exactly what made our nation the economic Great Power everyone remembers.

There is no reason we can't do it again. None, that is, besides epidemic levels of corruption in our political system.

Call it a New Deal.

Venezuela's minimum wage keeps rocketing skyward as the country grapples with insane levels of inflation.
President Nicolas Maduro hiked the minimum wage another 50% on Sunday, the fifth increase in the past year. That sounds like a big raise, but it pales in comparison with the dizzying increases in prices that have made food too expensive for many Venezuelans.


Inflation is expected to surge to 1,660% this year and 2,880% next year, according to forecasts by the International Monetary Fund.

Maduro on Sunday repeated his claim that his country is the victim of an economic war waged by his opponents, according to state-run news agency AVN.

Related: Venezuela crisis: I flew to U.S. to buy toilet paper

The government has resorted to increasingly extreme measures to try to combat the economic chaos, which has left people facing severe shortages of food and medicines.

The country's plunging currency and runaway inflation have made its banknotes virtually worthless. Maduro announced plans last month to print new bills in far higher denominations to replace the old ones, including a 20,000 bolivar note (200 times bigger than the largest note previously in circulation).

Related: These currencies got crushed in 2016


YEAH, LETS JUST RAISE THE MINIMUM WAGE CAUSE IT FIXES EVERYTHING!!!

 

[ttystikk]

Venezuela's minimum wage keeps rocketing skyward as the country grapples with insane levels of inflation.
President Nicolas Maduro hiked the minimum wage another 50% on Sunday, the fifth increase in the past year. That sounds like a big raise, but it pales in comparison with the dizzying increases in prices that have made food too expensive for many Venezuelans.


Inflation is expected to surge to 1,660% this year and 2,880% next year, according to forecasts by the International Monetary Fund.

Maduro on Sunday repeated his claim that his country is the victim of an economic war waged by his opponents, according to state-run news agency AVN.

Related: Venezuela crisis: I flew to U.S. to buy toilet paper

The government has resorted to increasingly extreme measures to try to combat the economic chaos, which has left people facing severe shortages of food and medicines.

The country's plunging currency and runaway inflation have made its banknotes virtually worthless. Maduro announced plans last month to print new bills in far higher denominations to replace the old ones, including a 20,000 bolivar note (200 times bigger than the largest note previously in circulation).

Related: These currencies got crushed in 2016


YEAH, LETS JUST RAISE THE MINIMUM WAGE CAUSE IT FIXES EVERYTHING!!!

Thanks for your opinion. Like anything else, raising minimum wages without doing anything else won't help. That's why I suggest it in conjunction with an across the board reduction in corporate subsidies.

It must also be said that you're using a terrible example of socialism, mostly because you're biased against it- just like you've been told to be. Venezuela is laboring under many difficulties, including sanctions and lower market prices for natural resources like oil.

Care to discuss this or just throw out more propaganda?