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Thread: Jobless rate tops 10 pct. for first time since '83

  1. #31
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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by winston53660 View Post
    I do think it is important to find ways to free up capital at this point in time. A tax increase would be a big no no IMHO at this point in time.
    Oh I agree fully. Having a tax increase is not the best of things at this time, however it depends a lot on who is gonna get it. Sorry if I dont have any tears for the rich having their taxes jacked up a tad.

    But scaremongering as the right is doing over and over again in their never ending political battle against the Obama administration does not help. For once it would be nice if the right actually talked facts and figures instead of dreaming up the boggie man at ever turn.

    I think we need to get the credit markets working again.
    Yep, but if you listen to the usual suspects on the right.. cutting taxes, deregulating everything and giving a free ride to business would make everything so much better. Its funny how they forget so fast how we got into the problem in the first place...
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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by Oftencold View Post
    First and foremost, cut taxes, eliminate most regulation, severely punish actual crimes.
    Okay what would you due about credit default swaps?
    Second, i would pass a constitutional amendment barring Federal interference in the education of minors, since people grounded in reality reject quasi-socialist schemes which have brought us to where we are, but tend to empower centralized authority.
    What the heck does this have to do with unemployment now or in the future?

    Also, I'd encourage the public to accept that there is no such thing aqs a company that is "too big to fail."
    And you are complaining about unemployment. Just imagine that the big banks and AIG had failed.

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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by apdst View Post
    Yeah! How stupid of us to want to keep our money, vice giving it to the government to blow on enititlement programs for the welfare class. Why the hell should we want to keep it? I mean we only worked our asses off to earn it.
    Fine by me, cut taxes, but then dont complain about the budget deficit! Like it or not they are linked.

    But cutting taxes wont help with the lack of credit out there... how do you propose to fix that.. cut more taxes?
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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by Oftencold View Post
    First and foremost, cut taxes, eliminate most regulation, severely punish actual crimes.

    Second, i would pass a constitutional amendment barring Federal interference in the education of minors, since people grounded in reality reject quasi-socialist schemes which have brought us to where we are, but tend to empower centralized authority.

    Also, I'd encourage the public to accept that there is no such thing aqs a company that is "too big to fail."

    And finally, I'd alter the law, to recognize extortion by another name: unionization.

    Just a small nuance here -- those tax cuts don't only benefit large corporations but much of the NEW start up businesses. Without those tax cuts, these small new businesses cannot get off the ground and therefore cannot help the unemployment rate which lags behind. Keep taxing and spreading the wealth, those small businesses wanting to launch do not, therefore the indicator goes from lag ... to stagnant.

    BTW - my corporation (300,000 employees) just cut approximately 20% which will hit in December... so expect approximately 30,000 or 50% of that 60,000 number to be on unemployment during the holidays because they didn't find another job either internally or externally.

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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by PeteEU View Post
    Fine by me, cut taxes, but then dont complain about the budget deficit! Like it or not they are linked.

    But cutting taxes wont help with the lack of credit out there... how do you propose to fix that.. cut more taxes?
    Cut taxes, cut spending... they do go hand in hand.

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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by Erod View Post
    By your measure, which is correct, the actual unemployment rate is likely more like 13 percent if you count those workers.

    Also, the administration keeps trying to count "saved jobs" as created jobs. Not sure how they justify that exactly, or how they can even know if a job is "saved".

    In heavy blue states like Michigan, New Jersey, etc, the unemployment rates are creeping close to 20 percent.
    Aren't most of the governmt jobs temporary? They're saving jobs by giving people jobs over here, while somebody over there loses a job. Way to go!

    I don't know how they count "saved jobs", either.
    "It's not that I'm afraid to die, I just don't want to be there when it happens." Woody Allen.

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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by PeteEU View Post
    Oh I agree fully. Having a tax increase is not the best of things at this time, however it depends a lot on who is gonna get it. Sorry if I dont have any tears for the rich having their taxes jacked up a tad.
    Yeah I don't think how many Rolls Royce's are sold drives the economy in any significant way. So if taxes go up a tad on the uber rich I do not think it will be all that bad.

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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by winston53660 View Post
    Yeah I don't think how many Rolls Royce's are sold drives the economy in any significant way. So if taxes go up a tad on the uber rich I do not think it will be all that bad.
    But there's the problem. These rich people didn't become rich because they were stupid, or they didn't understand money. They are the ones who drive the economy with the business and profit they create.

    Their income won't change. Their overhead might, but not their income. If they have to fire a operations manager and a couple of admins to maintain their income, they will. They expect a certain return based on a certain risk; that's the way business is justified and done.

    Rich people don't have to work. They don't have to invest. You put the pinch on them, they'll just take their ball and go home. Then the rest of us will be screwed.

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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by Erod View Post
    But there's the problem. These rich people didn't become rich because they were stupid, or they didn't understand money. They are the ones who drive the economy with the business and profit they create..
    They get rich because they have something that someone else wants and is willing to pay for.

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    Re: Jobless rate tops 10 pct. for first time since '83

    Quote Originally Posted by winston53660 View Post
    They get rich because they have something that someone else wants and is willing to pay for.
    Yeah, if you're running a lawn service.

    Big business is far more involved than that. The risks are weighed and managed heavily. Investors are secured through such intense management of resources. Taxes, current and future, as well as economic forecasting, has a great deal to do with that.

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