Puterbac News Network and Political Discussion Thread
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- Dora
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Re: Puterbac News Network and Political Discussion Thread
Low wage earners spend their money. That is good for the economy & does generate more jobs.
Take life with a pinch of salt, a wedge of lime, and a shot of tequila
- hedge
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Re: Puterbac News Network and Political Discussion Thread
I'd like to see your severed head supported by a pike...
I want someone's ass blistered in the middle of Thanksgiving Square.
- Toemeesleather
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Re: Puterbac News Network and Political Discussion Thread
Low wage earners spend their money. That is good for the economy & does generate more jobs.
Of course this is true, though minimal, IF they are spending money EARNED at a job that is creating wealth....too often nowadays, thru "earned income credit" and other transfer payments, they are simply using someone elses money (tax) to live and creating/maintaining a bureacracy instead of creating wealth(jobs).
Of course this is true, though minimal, IF they are spending money EARNED at a job that is creating wealth....too often nowadays, thru "earned income credit" and other transfer payments, they are simply using someone elses money (tax) to live and creating/maintaining a bureacracy instead of creating wealth(jobs).
I saw a werewolf drinking a pina colada at Trader Vic's.
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Re: Puterbac News Network and Political Discussion Thread
1. Millions of people were removed from the income tax rolls. I understand you want to give other peoples money away. We disagree on that.Red Bird wrote:You miss the point.
1. The Tax cuts did little for the low income workers. As we've already established, these workers pay little income tax, they pay mostly payroll tax. The Bush tax cuts were designed to drastically cut the tax rates paid by the wealthy, and the success of Bush's plan is plainly visible in the chart Dora posted.
2. Such cuts directed at the wealthy do little to boost the economy because the wealthy people, who received the vast majority of the Tax savings, didn't spend the money. They invested it in China.
You are making a logical mistake of assuming a cause and effect relationship. Revenues increased after the Bush Tax cuts in spite of the tax cuts not because of them. This is plainly shown by the 2 trillion dollar difference between the actual receipts and the numbers in the CBO estimate made before Bush's Cuts.W cuts put fully in place and revenue grew each from 2003 to 2007 before real estate crash and millions fewer paying taxes in 2008.
2. Right. Because so many people are invested in the Chinese market. Wealthy people invest their money which helps create jobs which creates taxpayers which creates higher revenue.
The CBO estimate knew nothing of two wars or millions of job losses post 9/11. I'll have a post on CBO in a few that shows how awesome they are in projections. And remember that in Clintons early years they predicted 200 billion + yearly deficits for a decade and we ended up with surpluses. Once we had surpluses they predicted surpluses for decades and wiping out the national debt and we had deficits.
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Re: Puterbac News Network and Political Discussion Thread
You are wrong.Owlman wrote:tax revenue dropped in 2007, the economic crash was 2008
Tax revenue increased in 2007 from 2006:
Income........Cap gains
2006 1,043,908 353,915
2007 1,163,472 370,243
Its taken right from Oprama's own data:
http://www.whitehouse.gov/sites/default ... st02z1.xls
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Re: Puterbac News Network and Political Discussion Thread
Toemeesleather wrote:Such cuts directed at the wealthy do little to boost the economy because the wealthy people, who received the vast majority of the Tax savings, didn't spend the money. They invested it in China
LMAO.....and jobs are created by low skill poor folks.
No kidding.
- Dora
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Re: Puterbac News Network and Political Discussion Thread
No, it's not minimal, it's huge. There are millions & millions or low wage earners. If each of them just spends $1 more that means millions & millions going into the economy.Of course this is true, though minimal
The vast majority of low income people are working people. But even those living on welfare are spending which is good for the economy & creates jobs. For instance, if I have a store where the majority of my customers are welfare recipients, an increased income for them translates into more $$ for my business. With enough of an increase, I will need to hire more help.too often nowadays, thru "earned income credit" and other transfer payments, they are simply using someone elses money (tax) to live and creating/maintaining a bureacracy instead of creating wealth(jobs).
Take life with a pinch of salt, a wedge of lime, and a shot of tequila
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Re: Puterbac News Network and Political Discussion Thread
Low wage folks by definition don't have a whole lot extra to spend.Dora wrote:Low wage earners spend their money. That is good for the economy & does generate more jobs.
Do you think middle class, rich, and wealthy people stuff money in their mattress?
Hell no. Of course they spend money and they invest that which they don't spend.
Whether its a car, furnishings, a house, electronics, home improvements, expanding a small business, investing in other biz, stock market, etc it is put to use. It isn't stuff in pillows at home.
- Dora
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Re: Puterbac News Network and Political Discussion Thread
Obviously. That's why letting them make more money benefits the economy.Low wage folks by definition don't have a whole lot extra to spend.
No, definitely not stuffed in pillows. It *will* however often go to non-taxed investments abroad.Whether its a car, furnishings, a house, electronics, home improvements, expanding a small business, investing in other biz, stock market, etc it is put to use. It isn't stuff in pillows at home.
Take life with a pinch of salt, a wedge of lime, and a shot of tequila
- THE_WIZARD_
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Re: Puterbac News Network and Political Discussion Thread
THE_WIZARD_. Internet legend and all around good guy. STFU.
- Hacksaw
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Re: Puterbac News Network and Political Discussion Thread
Thanks, Karen.It's me Karen wrote:Hack, congrats to you and your little girl!
Deep thought of the day: "I was adopted. I thank my birth mother every day for not aborting me (although I wouldn't doubt her decision if she did)."
- Hacksaw
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Re: Puterbac News Network and Political Discussion Thread
Well, this conversation has taken an unfortunately predictable turn. We've got a bunch of people here with their heads in the sand, ignoring reality and continuing to support policies that are quickly accelerating us towards bankruptcy as a nation. And when you provide them with cold, hard evidence, they either ignore it or claim that it is faulty in some way. They are obviously hell-bent on believing what they want, reality be damned. Pretty sad.
"Raise taxes" is the only economic strategy the dem party has offered for the past 3 decades. And the funny thing is that most of us would be open to that, if both parties hadn't proved a long time ago that they have zero interest in cutting spending and budgeting responsibly. But they don't want that. They want their hand-outs. And like spoiled little children, they refuse to take no for an answer. So keep taxing, as long as it's somebody else who makes more than me. And keep giving us our free shit. And maybe I won't live long enough to see our country become a third-world nation because of it.
"Raise taxes" is the only economic strategy the dem party has offered for the past 3 decades. And the funny thing is that most of us would be open to that, if both parties hadn't proved a long time ago that they have zero interest in cutting spending and budgeting responsibly. But they don't want that. They want their hand-outs. And like spoiled little children, they refuse to take no for an answer. So keep taxing, as long as it's somebody else who makes more than me. And keep giving us our free shit. And maybe I won't live long enough to see our country become a third-world nation because of it.
Deep thought of the day: "I was adopted. I thank my birth mother every day for not aborting me (although I wouldn't doubt her decision if she did)."
- innocentbystander
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Re: Puterbac News Network and Political Discussion Thread
Ours is the most modern economic system. There is not that much done with money that DOESN'T benefit the US economy.Dora wrote:Obviously. That's why letting them make more money benefits the economy.Low wage folks by definition don't have a whole lot extra to spend.
No, definitely not stuffed in pillows. It *will* however often go to non-taxed investments abroad.Whether its a car, furnishings, a house, electronics, home improvements, expanding a small business, investing in other biz, stock market, etc it is put to use. It isn't stuff in pillows at home.
- giving a 10 year old selling lemonade on the sideway 50 cents for a cup, benefits the economy
- just putting all your money in the bank, forcing the bank to loan most/almost-all of it out, benefits the economy
- buying a very affordable home and paying off your mortgage, benefits the economy
- sending yourself or your children off to be educated on YOUR dime (not government's) benefits the economy
- buying, holding, even selling a publically traded stock, benefits the economy
- hell, even buying gold and miserly hoarding it in your bedroom closet, in some small, odd ways, still benefits the economy
What doesn't benefit our economy is government debt. Too many other nations are buying it up which means our grandchildren will have to work harder than we did to pay MORE income tax (as a percentage of their income) to cover the interest payments on the debt WE incurred TODAY to buy thing we thought we needed. We just do this because too many of our people are selfish and our children are too young to vote against us robbing them blind.
Feminism: Eve eats ALL the apples, gives God the middle finder when He confronts her, and has the serpent serve Adam with an injunction ordering him to both stay away from her AND to provide her food and shelter because he dragged her out of the Garden.
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Re: Puterbac News Network and Political Discussion Thread
1. What is this letting them make more money? Should govt determine all wages? If you said letting them KEEP more of what they earn, fine.Dora wrote:Obviously. That's why letting them make more money benefits the economy.Low wage folks by definition don't have a whole lot extra to spend.
No, definitely not stuffed in pillows. It *will* however often go to non-taxed investments abroad.Whether its a car, furnishings, a house, electronics, home improvements, expanding a small business, investing in other biz, stock market, etc it is put to use. It isn't stuff in pillows at home.
2. Who are these rich folks you know that are sending money overseas in non-taxed investments? Is there anything to back that up? Why did cap gains revenue go UP each year if they were in non-taxed investments?
- Hacksaw
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Re: Puterbac News Network and Political Discussion Thread
Yeah, and Obama said he'd close down Gitmo and get us out of Iraq and govern in a bipartisan way and have the most transparent WH in history and televise the whole damned thing on C-SPAN, etc., etc., etc.Owlman wrote:What??? YOU voted for Gore in 2000? That was the primary proposal of Gore in the election, to put SS in a lockbox and to truly and accurately reflect the budget (one of the biggest jokes on SNL was Gore repeating lockbox over and over)Hacksaw wrote: You conveniently believed what you chose to believe and voted for people who kept the scam going.
I didn't believe any of that shit, either.
Deep thought of the day: "I was adopted. I thank my birth mother every day for not aborting me (although I wouldn't doubt her decision if she did)."
- THE_WIZARD_
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Re: Puterbac News Network and Political Discussion Thread
I'm in favor of more stimulus. Everyone needs to patronize their nearest titty bar ASAP.
THE_WIZARD_. Internet legend and all around good guy. STFU.
- innocentbystander
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Re: Puterbac News Network and Political Discussion Thread
i prefer full nudeTHE_WIZARD_ wrote:I'm in favor of more stimulus. Everyone needs to patronize their nearest titty bar ASAP.
Feminism: Eve eats ALL the apples, gives God the middle finder when He confronts her, and has the serpent serve Adam with an injunction ordering him to both stay away from her AND to provide her food and shelter because he dragged her out of the Garden.
- Hacksaw
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Re: Puterbac News Network and Political Discussion Thread
"Ironically, buying cigarettes or alcohol benefits the economy in two ways: you prop up those who manufacture those things and you hasten your own early death thereby relieving government all those additional social security checks."
LMAO. The shit you read here, I tell ya'.
LMAO. The shit you read here, I tell ya'.
Deep thought of the day: "I was adopted. I thank my birth mother every day for not aborting me (although I wouldn't doubt her decision if she did)."
- Hacksaw
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Re: Puterbac News Network and Political Discussion Thread
" You have a tendency to present voluminous quantities of numbers with little useful analysis. Bottom line: your numbers don't serve your argument well because you offer no real analysis; in addition, your data is poorly organized and not clearly presented."
LMFAO!
Give it up, puter. AA was clearly right.
LMFAO!
Give it up, puter. AA was clearly right.
Deep thought of the day: "I was adopted. I thank my birth mother every day for not aborting me (although I wouldn't doubt her decision if she did)."
Re: Puterbac News Network and Political Discussion Thread
Jobs are created when people buy products off the store shelf.LMAO.....and jobs are created by low skill poor folks.
The key to an modern industrial economy is consumer purchasing. If only the rich have money to buy things, there will be little demand because the rich are few in number.
Fewer people have money to spend = fewer products sold = fewer jobs.
More people with money to spend = more products sold = more jobs = more people with money to spend = more products sold = more jobs = more people with money to spend = . . . .
There isn't a businessman or women on earth dumb enough to invest in new production if people don't have the money to buy whatever his/her business makes.