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My Economic Plan -- Need and Want Opinions

BobTurner
Posts: 114
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3/9/2014 10:59:01 AM
Posted: 2 years ago
Here's what I would do to fix the economy right now:

(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system

Any thoughts?
monty1
Posts: 1,084
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3/9/2014 12:13:30 PM
Posted: 2 years ago
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

That's a real peach of a list Bob. Maybe Sarah Palin for pres this time around? You could explain to her beforehand what it all means.
BobTurner
Posts: 114
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3/9/2014 12:21:03 PM
Posted: 2 years ago
At 3/9/2014 12:13:30 PM, monty1 wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

That's a real peach of a list Bob. Maybe Sarah Palin for pres this time around? You could explain to her beforehand what it all means.

Eww, Sarah Palin's IQ is easily 70 points below mine.
EndarkenedRationalist
Posts: 14,201
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3/9/2014 1:12:44 PM
Posted: 2 years ago
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.
BobTurner
Posts: 114
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3/9/2014 1:30:34 PM
Posted: 2 years ago
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.
EndarkenedRationalist
Posts: 14,201
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3/9/2014 1:56:38 PM
Posted: 2 years ago
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?
BobTurner
Posts: 114
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3/9/2014 1:58:27 PM
Posted: 2 years ago
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages do.

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.
EndarkenedRationalist
Posts: 14,201
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3/9/2014 2:00:53 PM
Posted: 2 years ago
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.
BobTurner
Posts: 114
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3/9/2014 2:02:13 PM
Posted: 2 years ago
At 3/9/2014 2:00:53 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.

http://www.theatlantic.com...

tax rates are too high. they need to be lowered.
monty1
Posts: 1,084
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3/9/2014 2:04:47 PM
Posted: 2 years ago
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

Faith in supplyside bullsh-t is a wonderful thing. He's got it really bad. Even worse than educated SS'ers because they wouldn't lower taxes to zero. They would only lower taxes a 'lot' but only for the supplyside. And the goldbug thingy, most of them have given up any hope in that kind of nonsense long ago.
EndarkenedRationalist
Posts: 14,201
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3/9/2014 2:22:25 PM
Posted: 2 years ago
At 3/9/2014 2:02:13 PM, BobTurner wrote:
At 3/9/2014 2:00:53 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.

http://www.theatlantic.com...

tax rates are too high. they need to be lowered.

Tax rates are among the lowest in the Western World. Trickle down economics does not work.
BobTurner
Posts: 114
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3/9/2014 2:28:00 PM
Posted: 2 years ago
At 3/9/2014 2:22:25 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:02:13 PM, BobTurner wrote:
At 3/9/2014 2:00:53 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.

http://www.theatlantic.com...

tax rates are too high. they need to be lowered.

Tax rates are among the lowest in the Western World. Trickle down economics does not work.

That's an assertion without facts. I just showed you that taxes are higher than they've been in 30 years. Stop with the talking points and provide FACTS.
EndarkenedRationalist
Posts: 14,201
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3/9/2014 2:29:44 PM
Posted: 2 years ago
At 3/9/2014 2:28:00 PM, BobTurner wrote:
At 3/9/2014 2:22:25 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:02:13 PM, BobTurner wrote:
At 3/9/2014 2:00:53 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.

http://www.theatlantic.com...

tax rates are too high. they need to be lowered.

Tax rates are among the lowest in the Western World. Trickle down economics does not work.

That's an assertion without facts. I just showed you that taxes are higher than they've been in 30 years. Stop with the talking points and provide FACTS.

First, no you didn't.
Second, here.

http://money.cnn.com...
BobTurner
Posts: 114
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3/9/2014 2:30:53 PM
Posted: 2 years ago
At 3/9/2014 2:29:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:28:00 PM, BobTurner wrote:
At 3/9/2014 2:22:25 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:02:13 PM, BobTurner wrote:
At 3/9/2014 2:00:53 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.

http://www.theatlantic.com...

tax rates are too high. they need to be lowered.

Tax rates are among the lowest in the Western World. Trickle down economics does not work.

That's an assertion without facts. I just showed you that taxes are higher than they've been in 30 years. Stop with the talking points and provide FACTS.

First, no you didn't.
Second, here.

http://money.cnn.com...

Are you blind?

I sent the article earlier.

Here it is again. http://www.theatlantic.com...

And I'm talking about tax rates in the US, not abroad.
EndarkenedRationalist
Posts: 14,201
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3/9/2014 2:39:04 PM
Posted: 2 years ago
At 3/9/2014 2:30:53 PM, BobTurner wrote:
At 3/9/2014 2:29:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:28:00 PM, BobTurner wrote:
At 3/9/2014 2:22:25 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:02:13 PM, BobTurner wrote:
At 3/9/2014 2:00:53 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.

http://www.theatlantic.com...

tax rates are too high. they need to be lowered.

Tax rates are among the lowest in the Western World. Trickle down economics does not work.

That's an assertion without facts. I just showed you that taxes are higher than they've been in 30 years. Stop with the talking points and provide FACTS.

First, no you didn't.
Second, here.

http://money.cnn.com...

Are you blind?

I sent the article earlier.

Here it is again. http://www.theatlantic.com...

And I'm talking about tax rates in the US, not abroad.

First, I said tax rates in the US were among the lowest in the Western World. You challenged that claim.

Secondly, look at the wealth inequality.

http://inequality.org...
http://www2.ucsc.edu...
http://m.youtube.com...
BobTurner
Posts: 114
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3/9/2014 2:56:34 PM
Posted: 2 years ago
At 3/9/2014 2:39:04 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:30:53 PM, BobTurner wrote:
At 3/9/2014 2:29:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:28:00 PM, BobTurner wrote:
At 3/9/2014 2:22:25 PM, EndarkenedRationalist wrote:
At 3/9/2014 2:02:13 PM, BobTurner wrote:
At 3/9/2014 2:00:53 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:58:27 PM, BobTurner wrote:
At 3/9/2014 1:56:38 PM, EndarkenedRationalist wrote:
At 3/9/2014 1:30:34 PM, BobTurner wrote:
At 3/9/2014 1:12:44 PM, EndarkenedRationalist wrote:
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
(2) Abolish the Minimum Wage
(3) Repeal all federal regulations
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
(5) Raise tariffs on imports
(6) Use the revenue from the tariffs to expand investment credits
(7) Abolish every federal department save for the Department of Defense
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system


Any thoughts?

Welcome back to the Great Depression.

This will get us OUT of the current depression.

I'm afraid it won't. You realise, for one, that a supermajority of economists place no faith in the gold standard and actually see it as detreimental? You realise that without regulation, business will pay people pennies for hours and hours of labour?

the gold standard is needed because inflation is out of control and disproportionately hits poor people because prices adjust before wages

http://www.theatlantic.com...

businesses dont need government regulations because all regulations do is raise costs and kill jobs. the free market will stop them from paying low wages because workers can negotiate wages and the supply and demand for labor will find an efficient equilibrium and wages rise with productivity.

History and self-interest has proven this false. Remember last time when business barely had regulations? Monopolies happened.

http://www.theatlantic.com...

tax rates are too high. they need to be lowered.

Tax rates are among the lowest in the Western World. Trickle down economics does not work.

That's an assertion without facts. I just showed you that taxes are higher than they've been in 30 years. Stop with the talking points and provide FACTS.

First, no you didn't.
Second, here.

http://money.cnn.com...

Are you blind?

I sent the article earlier.

Here it is again. http://www.theatlantic.com...

And I'm talking about tax rates in the US, not abroad.

First, I said tax rates in the US were among the lowest in the Western World. You challenged that claim.

Secondly, look at the wealth inequality.

http://inequality.org...
http://www2.ucsc.edu...
http://m.youtube.com...

Do you have anything to disprove the low rate argument?
Buggie111
Posts: 20
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3/9/2014 3:30:18 PM
Posted: 2 years ago
Why would he want to disprove it, again?

Oh, and, the above mentioned article is a bit guilty of cherry-picking.

Tax brackets (with inflation-adjusted 2013 dollars) from 1913 to the present: http://taxfoundation.org...
Contra
Posts: 3,941
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3/9/2014 6:10:03 PM
Posted: 2 years ago
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:

I'll ignore the political difficulty of passing reform, and focus solely on economic theory.

(1) Repeal the Patient Protection and Affordable Care Act

Good idea. Repeal would mean scrapping all the new taxes and regulations associated with this legislation.

(2) Abolish the Minimum Wage

Theoretically, labor prices (wages) are the product of supply and demand. This usually is the case. However, I believe that we should lower the minimum wage, say to $5. Expecting workers to survive on wages lower than this is absurd.

(3) Repeal all federal regulations

First, environmental protections have significantly helped clean our environment, especially our air and water resources.

Second, workplace safety regulation is necessary. Expecting workers to work in unsafe environments is simply not good policy. Workplace safety rules might increase the cost of doing business, but shouldn't we value the safety of the worker?

Otherwise, yes there are regulations which we could eliminate.

(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%

No. I agree we should reduce federal income taxes, simplify them, and perhaps have a flat tax of some sort. However, if we eliminate all income taxes, this wouldn't be that beneficial I believe.

Yes, workers would have more income and so would businesses. However, the deficit would explode. Deficits withdraw investment capital from the private sector. Therefore, financing large deficits with money from banks seems like an ill-advised policy that would harm us more than help.

(5) Raise tariffs on imports

No. First market economies have division of labor and specialization. Having nations (which have a comparative advantage) exchange products with us is a beneficial thing. Let us say shirts. Shirts are important, but American workers have the potential to do so much more than this. The opportunity cost of having a million workers produce shirts (instead of say medical technology) is enormous.

Second, imports reduce the overall level of costs, and therefore help the consumer.

Third, imports (assuming a trade deficit) leads to an investment surplus. I might understand why this is the case. Overall, a trade deficit makes it so that cash (net) leaves the country, purchasing goods and services. With less cash, there is less inflation. With less inflation, securities and other investments yield greater returns. With greater returns, there comes greater investment which fuels business activity and economic growth.

Instead of making our economy poorer by forcing workers to produce basic products like shirts, socks, underwear, shoes, necklaces, etc., we should allow the marketplace to efficiently allocate resources in this respect. Furthermore, raising imports will probably incite a trade war, and thus will cause our exports to fall (killing jobs).

(6) Use the revenue from the tariffs to expand investment credits

Investment credits aren't a bad idea. But like I stated above, tariffs are.

(7) Abolish every federal department save for the Department of Defense

Some federal departments have useful functions.

The Department of Agriculture provides funds for agricultural research. The Department of Labor improves workplace safety and helps manage disputes between labor and employers. The Department of Transportation maintains our roads (although pretty poorly). The Department of Justice is clearly important, it is the bulwark behind our judicial system.

(8) Bring back the gold standard and abolish the Fed-induced fiat currency system

Implementing the gold standard overnight seems difficult. What would happen to all of the surplus cash? But yes inflation is a problem which is hurting our economy in a number of ways.

Any thoughts?
"The solution [for Republicans] is to admit that Bush was a bad president, stop this racist homophobic stuff, stop trying to give most of the tax cuts to the rich, propose a real alternative to Obamacare that actually works, and propose smart free market solutions to our economic problems." - Distraff

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Ragnar_Rahl
Posts: 19,297
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3/10/2014 11:44:26 PM
Posted: 2 years ago
Contradiction. Tariffs are a federal regulation. Also, aren't investment credits a credit against your income tax, which you're abolishing? Why do investors need welfare? Why do you think of foreigners and those engaging in consensual acts of capitalism with foreigners as less than worthy of the human consideration you grant all other taxpayers?

What are you going to do with the Department of Energy's nuclear program?

How will you enforce your tariffs with only DoD personnel at your disposal? Do you consider importation an act of war or something?

You realise that without regulation, business will pay people pennies for hours and hours of labour?
That's nonsensical. There's no regulation that says I can't pay 5 pennies for a tablet right now. There's this thing called supply and demand.
It came to be at its height. It was commanded to command. It was a capital before its first stone was laid. It was a monument to the spirit of man.
Khaos_Mage
Posts: 23,214
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3/11/2014 7:56:36 AM
Posted: 2 years ago
At 3/9/2014 10:59:01 AM, BobTurner wrote:
Here's what I would do to fix the economy right now:


(1) Repeal the Patient Protection and Affordable Care Act
Okay
(2) Abolish the Minimum Wage
Good
(3) Repeal all federal regulations
Hmmmm, why, exactly?
And the FBI?
And who, pretell, will collect and audit the tariffs collected?
(4) Abolish the 16th Amendment, or in the interim, reduce all federal taxes to 0%
No taxes at all or no income tax?
(5) Raise tariffs on imports
And if there aren't enough imports?
(6) Use the revenue from the tariffs to expand investment credits
This sounds like a regulation, which you opposed in (3).
Also, what is an investment credit?
(7) Abolish every federal department save for the Department of Defense
Does this mean you don't believe in the federal government's role to regulate interstate commerce?
(8) Bring back the gold standard and abolish the Fed-induced fiat currency system
Why is this so good?


Any thoughts?
Unworkable and contradictory platitudes, sir.
My work here is, finally, done.