Gasoline Prices and Speculators: They Think You Are Stupid
- Thread starter bugscoe
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"According to Internal Revenue Service data, the entire taxable income of everyone earning over $100,000 in 2008 was about $1.582 trillion. Even if all these Americansâmost of whom are far from wealthyâwere taxed at 100%, it wouldn't cover Mr. Obama's deficit for this year."
And don't forget the $113trillion in current unfunded entitlements.
Go ahead, dazzle us with your abacus skills!
You judge the environment as sufficiently identical for directly comparative purposes? And here I thought you were at least vaguely familiar with economics...
What Obama inherited from Bush was rather "unique" and unlike anything seen in generations. But you need not contrast W's supply side nonsense with what followed as a result of, and in the wake of, his own debacle. You need merely compare W's numbers with the results of any number of more moderate economic policies that preceded his tenure in office. There is no question that I am quite partisan. However, I do go to the trouble of looking at the facts at least somewhat objectively.
And you glossed over what i already explained in my original post. If you want to judge supply side simply based on Bush, without factoring the number of jobs going over seas during his tenure, then Im going to judge Obama and keynesian economics simply based on what is happening right now. Supply side would have worked just fine, if we were an isolated economy, and the U.S. didnt have to compete with a bunch of third world shitholes. Even with the trillions of dollars Obama and Bernanke pumped into the economy, we are not even able to outpace the number of jobs we need to create just to survive.
The only time we have had substantial job growth in the states int the last 20 years was due to the tech bubble, so without another bubble like the 90's we are never going to be able to create enough jobs at home until we eliminate the problem of outsourcing, or else destroy the standard of living in the United States to the point that we are a third world country.
I already said we need to take an isolationist policy.
The only time we have had substantial job growth in the states int the last 20 years was due to the tech bubble, so without another bubble like the 90's we are never going to be able to create enough jobs at home until we eliminate the problem of outsourcing, or else destroy the standard of living in the United States to the point that we are a third world country.
I already said we need to take an isolationist policy.
The housing bubble created jobs in America for a simple reason, we cant create houses over seas. Had the housing bubble occurred at a time that we werent sending all our other jobs overseas, we would have created 10 times as many jobs.
Until we put a stop to outsourcing we will never see job growth like the 90's again, under any economic policy, unless of course we have another tech bubble.
You forget that supply-side goes hand-in-hand with laissez faire, by definition. This implies no intervening fiscal policy to deter outsourcing, which, true to form, describes Bush's reign. As for your repeated and maligning reference to Keynesian economics, I am beginning to think you do not even understand what it is. Really. I'm not sure you understand that there are two sides to the equation and that there is a timing that needs to be applied in order to keep it in balance. I suspect that the features that make it valid are the very features that you are repeatedly overlooking, either unwittingly or otherwise.
Only because you haven't thought it through.