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No business can toss aside a more qualified applicant. Have you hired any young people lately? American twenty-somethings as a general rule are lazy and entitled. If I find one who is willing to work as hard as a foreigner, I can't afford NOT to hire him. You can take as much issue as...

What's wrong with that? Countries that require their citizens to be hired first have much higher long term unemployment rates and a lower general rate of economic growth. If it's true that companies can pay a slightly lower wage to H1-B holders then that means they're allocating resources...

Most people think the cap protects American Jobs. It doesn't. If Americans are not qualified or too expensive for the job, it either moves overseas or it doesn't exist at all as the company drops that line of business. Of course, if the business is dropped altogether, all of the...

I thought all that belonged to Obama. Or Kanye.

Wars are a different type of "time of stress" than the one we have now. Rising tax rates in the depression prevented economic growth and a severe tax hike in 1937 created a depression within a depression. I don't think working for the state for half the year is a "low" tax rate. Why does...

Misthos, the posted tax rates were very high for a tiny percentage of the population. However, nobody in the highest tax brackets paid those rates. The average effective tax rate during that period were about 23%. There were lots and lots of tax loopholes to encourage people to work and...

Nice charts. Notice how all was pretty stable until we decided to have a Federal Reserve in 1913? The dollar has lost 95% of its purchasing power since then. Yet Bernanke is crying that he saved us all from certain doom. Yeah. What would we do without stability like that.

Dammit. I don't know how the hell my post got so garbled. "getting buy"? I'm just tired and I was concentrating on getting the calculations right. Sorry about that. But, you get the gist.

Sorry. I meant to say there's no way in hell taxes were HIGHER in 1953.

Using of inflation rate of 4% (which is the long term average over the period). $49K in 1953 = $441,000 in 2009. Taxes of $21K represented a 43% tax rate in 1953. If you live in NYC today and make the equivalent $441K , your tax rate is above 50% (including federal, state, and...

LOL!!!!!!:D

Awe....don't be too upset. You and I will be in the ghetto. But, don't worry. The political elite will still live in grand style and we will all be told through propaganda that we should take pride in that.

Two things. They were doing fine but they all had a lot less stuff. The average house today is 2500 square feet compared to just over 900 square feet in the 1950's. If you live now the way your parents lived in the 1950's, you'd be able to live on a single income as well. Things were fine...

Beat me to it!

Really? There is. It's called an income tax. The politicians like to use said tax collected from the population as their own personal slush fund and to buy the votes of the people they just robbed. Wars cost nothing compared to the cost of political hubris.

idiotic. Defense of the realm - including war - is the responsibility of the government, as outlined in the constitution. Defense spending is a paltry fraction of all government spending - including the increases resulting from war. If government stops robbing productive members of...

You're right.

I'm only saying a version of what the other two responders have said but... Moral hazard is preventing people from selling some assets and 100x P/E has been preventing others from coming into the market (that's from zerohedge, but I like the way he put it). The stock market today is a...

I don't know anyone who blew up this year, but I do know a lot of market makers who are either down slightly, returning less than they do in an average year or they're scratching for the year. The volatility dying is bad enough, but the volume drop was the final nail. Lots of BD's have...

Get a job, live well below your means and save some money. Nobody but your mother will back you with two years of losses.