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Thread: Economy in U.S. Grows at 1.5% Rate

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    Quote Originally Posted by AdamT View Post
    ... he said, conveniently failing to address the concluding sentence.
    I did address your concluding sentence.

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by StillBallin75 View Post
    Doesn't take away from the fact that his freedom of action is rather limited. At the end of the day he can't do what he can't do, whether or not he's willing to do it.
    What exactly was obama stopped from doing that would have turned this economy around? Spend even MORE money we don"t have? Go FURTHER into debt than we already are?
    Last edited by sawyerloggingon; 07-28-12 at 11:02 AM.

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by sawyerloggingon View Post
    What exactly was obama stopped from doing that would have turned this economy around? Spend even MORE money we don"t have? Go FURTHER into debt than we already are?
    One, he was stopped from eliminating the top Bush tax cuts, which would have REDUCED the debt -- not that it would have turned the economy around. But it would have helped pay for his jobs bill, that was stopped and that would have reduced unemployment and boosted GDP.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by AdamT View Post
    One, he was stopped from eliminating the top Bush tax cuts, which would have REDUCED the debt -- not that it would have turned the economy around. But it would have helped pay for his jobs bill, that was stopped and that would have reduced unemployment and boosted GDP.
    Eliminating the top tax cuts would bring in about $70 billion, supposedly. But that is still taking $70 billion of economic activity out of the private economy. That reduces GDP, it does not increase it.

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by AdamT View Post
    One, he was stopped from eliminating the top Bush tax cuts, which would have REDUCED the debt -- not that it would have turned the economy around. But it would have helped pay for his jobs bill, that was stopped and that would have reduced unemployment and boosted GDP.
    Pure lies and propaganda

    Obama is running yearly trillion + deficits and vastly expanding the welfare state, and you claim if we only raise taxes on the people who the Government gets it's revenue from, the debt would have been reduced? Hahahaha ..... hahahaha ....

    You wouldn't know how to turn an economy around or "boost GDP" anymore than a chimp would know how to design a rocketship. 15% Real Unemployment. Liberal ideas don't work. They didn't work during the Great Depression. They aren't working now.

    FDR's policies prolonged Depression by 7 years, UCLA economists calculate / UCLA Newsroom

    In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

    "President Roosevelt believed that excessive competition was responsible for the Depression by reducing prices and wages, and by extension reducing employment and demand for goods and services," said Cole, also a UCLA professor of economics. "So he came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25 percent above where they ought to have been, given market forces. The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies."

    Using data collected in 1929 by the Conference Board and the Bureau of Labor Statistics, Cole and Ohanian were able to establish average wages and prices across a range of industries just prior to the Depression. By adjusting for annual increases in productivity, they were able to use the 1929 benchmark to figure out what prices and wages would have been during every year of the Depression had Roosevelt's policies not gone into effect. They then compared those figures with actual prices and wages as reflected in the Conference Board data.

    In the three years following the implementation of Roosevelt's policies, wages in 11 key industries averaged 25 percent higher than they otherwise would have done, the economists calculate. But unemployment was also 25 percent higher than it should have been, given gains in productivity.

    Meanwhile, prices across 19 industries averaged 23 percent above where they should have been, given the state of the economy. With goods and services that much harder for consumers to afford, demand stalled and the gross national product floundered at 27 percent below where it otherwise might have been.

    "High wages and high prices in an economic slump run contrary to everything we know about market forces in economic downturns," Ohanian said. "As we've seen in the past several years, salaries and prices fall when unemployment is high. By artificially inflating both, the New Deal policies short-circuited the market's self-correcting forces."
    The exact same thing has happened over the last 4 years. What should have been a solid recovery has been turned into a nightmare because of Obama's misguided Liberal Economic Policies.

    You are not a rational person who should be taken seriously. Never mind the opportunity costs and negative externalities associated with raising taxes in a recession (SOMETHING OBAMA AGREED WITH REMEMBER GENIUS?), Obama won't even come to the negotiating table in a bi-partisan matter to reduce the % of spending INCREASES.

    If Obama and the Democrats cared so much about the debt then why haven't they passed a budget in more than 3 years? I don't want to see anymore of your cliche talking points and lies until you can rationally and logically answer that one simple question. You're aware that not one Democrat voted for Obama's laughable proposed budget right? But hey, go back to Daily Kos where they gin up your emotions with utopian promises of social justice if we only squeeze the rich a little more. Just a little more. Drip. Drip. Drip. Businesses closing at an alarming rate. 15% Real Unemployment. Drip. Drip. Drip. Soak them just a little bit more. They have more money than the idiot you are lying too, so they deserve to be punished in your deluded mob like cultist delusion.

    Worst economic recovery since the Great Depression and you are babbling about repealing the "Bush tax cuts" as being the next solution to Obama's continued failure as president? So if we raise taxes on the evil rich and the economy tanks even worse what's going to be your excuse than? What is it going to take before you realize that you've been conned by rabble rousing Chicago thugs?

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by Fletch View Post
    Eliminating the top tax cuts would bring in about $70 billion, supposedly. But that is still taking $70 billion of economic activity out of the private economy. That reduces GDP, it does not increase it.
    EAT THE RICH! - YouTube

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by Fletch View Post
    Eliminating the top tax cuts would bring in about $70 billion, supposedly. But that is still taking $70 billion of economic activity out of the private economy. That reduces GDP, it does not increase it.
    Wealthy people do not spend 100% of their disposable income. I doubt very much that a 4% tax hike would change most of their spending habits one bit.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by Bronson View Post
    Pure lies and propaganda
    Abject stupidity. Raising revenue reduces deficits, period.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by AdamT View Post
    Wealthy people do not spend 100% of their disposable income. I doubt very much that a 4% tax hike would change most of their spending habits one bit.
    At what level will it? Using your "logic" we should be taxing at that point so why add 4% and not 7% to that "top" rate? If raising 8 days of federal revenue is "good" why not make it 12 days? What is "fair" or "the end", in YOUR view?

    BTW, raising the capital gains taxation rate from 15% to 20% is NOT a mere 5% increase it is a 33.3% increase in taxation, that will clearly affect investment decisions.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Economy in U.S. Grows at 1.5% Rate

    Quote Originally Posted by StillBallin75 View Post
    To be a leader, one actually needs to have people willing to follow. Congress's head is stuck so far up its own ass that the President couldn't do anything substantial if he wanted to.
    To be an effective leader one must possess and utilize skills that enable others to do their job, not follow.

    That's one of the country's problems, too many Obama followers.
    Quote Originally Posted by Redress View Post
    Generalizations are stupid.
    Quote Originally Posted by Joe Steel View Post
    The Second Amendment has nothing to do with guns.

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