How Political Ideology Kills Off Jobs

Quote from nutmeg:

Imo, the savvy politician converts social problems or political problems (or whatever issue they want to address) into a mathematical formula. Then sells the idea objectively based on the math. "The costs to society", etc.. Numbers can be manipulated.

Secondly, suppose a political idea ends up with economic benefits. Win win situation. Money rules and the horse is flogged to death. Patronage jobs, mismanagement, etc.
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What I don't understand is how anything was ever built if it has always been this way. There must have been a political system that cared or worked once for the politicians to wreck it now. What is happening now is obviously selling out and nothing new is being made. There must have been decent people once to make the west what it was. What happened to these people?

I can't help but think there was a huge shift from the baby boomer generation. The social change in the sixties has created immoral people. I also think people have no religious conviction.
 
Quote from joneog:

It depends on who you cut taxes on and how. Marginal propensity to consume, marginal propensity to invest and all that.

Cutting taxes on the upper brackets and cash-rich corporations will do little to stimulate investment if the demand isn't there. The demand won't be there until the debt and employment situation improves. The best thing to do IMO is cut marginal rates on middle and upper-middle brackets (the people that pay the bulk of income taxes relative to their incomes and were most hit by the RE collapse) and pay for it by removing loopholes and corporate welfare.
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Yes but there is so much debt that they will have to pay their debt down.
 
Imo, corporate welfare happens when regulatory burdens grind said company to a halt. An "oops" moment for the Feds, the Fed never reverses policy, hence welfare incentive.
 
Quote from morganist:

There must have been decent people once to make the west what it was. What happened to these people?
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Ha, they were farmers first, then lawyers secondly. They were in touch with the trials and tribulations and hardships of conducting business.

Today if you see litter on the street, people do not pick it up, they hire a lawyer, find who is responsible and enact a law to make other people pick up the litter - sometimes even the person responsible.
 
Quote from nutmeg:

Ha, they were farmers first, then lawyers secondly. They were in touch with the trials and tribulations and hardships of conducting business.

Today if you see litter on the street, people do not pick it up, they hire a lawyer, find who is responsible and enact a law to make other people pick up the litter - sometimes even the person responsible.
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Well something has definitely changed because people used to capable of doing business. Now they are not.
 
Quote from morganist:

Yes but there is so much debt that they will have to pay their debt down.
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Not sure there's anyway around that. Either 1) you do massive fiscal stimulus in the hopes you can increase growth faster than total debt, 2) you do more monetary stimulus to inflate away the debt faster than you inflate non-discretionary consumer goods - wages, real-estate, and financial asset prices, or 3) you go through a prolonged period of debt deflation to repair balance sheets.

Either way it won't be pretty.
 
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