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Thread: US unemployment rate reaches 7.6%

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by jallman View Post
    How do you possibly run out of unemployment benefits and still not have a job? Don't they go for like 6 months or something?
    A friend of mine couldn't find a job for over half a year. He has a masters in industrial enginerring and has worked in the field for over 20 years. The only thing he could find was a ****ty adjunct teaching job. He's found jobs since then but it took awhile. And this was 3-4 years ago before the current crisis.
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Goobieman View Post
    Ok, so...
    Seems to me that if the $x they get from a tax cut doesnt help them, then the $x they get from a government spending program won't hellp them to the same degree.

    Given that, why NOT the tax cut, and WHY the spending program?


    The US governent doesnt have the power to tax profits for a company that doesnt do buisness here...
    The tax cuts are not enough now because the problem snowballed too much before action was taken so a LARGE stimulus is needed for quick fix before collapse

    Tax cuts may have helped if implimented six years ago

    The government has power to tax the money when they bring it back into this country

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by creativedreams View Post
    They already govern loan sharking...this is exactly the same except on a broader scale with smaller interests
    Who subsidizes high interest loans??? And by high interest, i am considering the cross reference to loan sharking, where the "vig" exceeds 100% annually.
    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.
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by creativedreams View Post
    The tax cuts are not enough now because the problem snowballed too much before action was taken so a LARGE stimulus is needed for quick fix before collapse
    Tax cuts may have helped if implimented six years ago
    You are avoiding the point:

    Seems to me that if the $x they get from a tax cut doesnt help them, then the $x they get from a government spending program won't hellp them to the same degree.

    If the $x they get from a tax cut will not help, how will the $x they get from government spending?

    Understand that $x = $x

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by creativedreams View Post
    The government has power to tax the money when they bring it back into this country
    Come on now, government is the people. When the people decide to start spending and investing, then the people can be taxed.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Goobieman View Post
    You are avoiding the point:

    Seems to me that if the $x they get from a tax cut doesnt help them, then the $x they get from a government spending program won't hellp them to the same degree.

    If the $x they get from a tax cut will not help, how will the $x they get from government spending?

    Understand that $x = $x
    If you mean a bigger return on their payed in taxes I don't believe that even if most americans recieved %100 percent of their payed taxes back for the year it would be enough...would need a few years worth now

    This is why a higher amount stimulus package is needed over taxes

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    Re: US unemployment rate reaches 7.6%

    I have stated this time and time again. You can not compare unemployment numbers between any EU nation or the US. The US numbers are not "real" numbers but a freaking poll. The real number is estimated at 13 to 14% in the US. The European numbers are far more accurate as they do not exclude large portions of the population after a certain time of being unemployed for one.

    Also the European economy is not "one economy" as the US. Sure we want it to be so, but as it stands now it is not. Unemployment in Spain and most Eastern European countries is insane high, where as Holland is at around 2%. The economies are so different that you have to compare countries to countries and to the US.

    Look at the private savings. The UK has a very little saving rate, yet the average European saving rate including the UK is 14+%. That means despite the 2% UK saving rate, the average Euro saving rate is 14+%.. meaning someone is saving a buttload.

    If we look at each country, there are different stories. Germany the worlds second or third largest exporter (larger than the US btw), is dependant on exports some what, which means if people stop buying, then they will get hurt. But so will China, Japan, and all the other big exporters.

    Italy has had next to no growth for 30 years, due to an out dated system and corruption. The only bright spot has been car production and that has even been horrible. That the Italian economy is the worst preformer is no shocker.

    Spain, has spent the last decade on steroids thanks to its building boom. Now comes the pay back and due to the lack of flexiblity in the way the Spanish handle their whole system (lots of red tape), then the slow down on top of the building bust and an economy dependant on building and tourism, then that will cause massive problems.

    In the UK, you have an "american" problem.. a boom built on massive private debt. Now with the credit crunch, the Brits can finance their own debt with more debt and hence you got a problem there. It also suffered from exploding housing prices and a dramatic fall, and it let consumers remortage the house after the value increased, and now like in the US.. they are in trouble.

    France as different problems, but the global slow down will probably hit them less than most but it will still hit them.

    Each country has unique issues that are compounded by the global credit crunch started due to toxic US mortgages and lack of regulation in the US. Other than the UK massive personal debt, Europe does not have a "toxic" assets problem of its own, but have bought assets on the global market which we are just like the American's paying a high price (some more than others) for now.
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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by scourge99 View Post
    A friend of mine couldn't find a job for over half a year. He has a masters in industrial enginerring and has worked in the field for over 20 years. The only thing he could find was a ****ty adjunct teaching job. He's found jobs since then but it took awhile. And this was 3-4 years ago before the current crisis.
    I guess. I dunno, I would have taken the ****ty teaching job to hold over until I found the job I wanted. I have this thing (totally personal) about accepting any money from the government. Ever.

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by creativedreams View Post
    If you mean a bigger return on their payed in taxes I don't believe that even if most americans recieved %100 percent of their payed taxes back for the year it would be enough...would need a few years worth now

    This is why a higher amount stimulus package is needed over taxes
    So, why not first cut the taxes and then make up the difference, if there is any, with government spending??

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    Re: US unemployment rate reaches 7.6%

    Quote Originally Posted by Goldenboy219 View Post
    Come on now, government is the people. When the people decide to start spending and investing, then the people can be taxed.
    I was speeking in terms of compensation for job losses, in turn, tax losses
    plus technological advantage losses to help make foreign companies more competative

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