Quote:
Originally Posted by Wayfarer
...why? not only does the American government not have any money to "stimulate the economy", but its 65.5 trillion in total obligations exceeds the GDP of the entire planet. how much longer do you think China is going to keep buying these thirty-year treasury bonds? do you really think the government could possibly raise revenues by taxing a shrinking economy? it's not going to happen. the U.S. is not about to magically become the world's low-cost manufacturer and have some massive influx of job-producing industries as a result of this deficit spending, especially when America already has the highest corporate taxes in the world and some of the most inhibitory regulations.
|
First off we don't have the highest corporate taxes in the world. As far as "inhibitory regulations" anything significant, like Glass-Steagall, has been repealed. I don't know what other regulations that were actually enforced could be seen as inhibitory...controlling prices? Making sure restaurants are sterile? How Communistic of the US government to control such things!
I don't think you really understand how this is supposed to work.The way the program is going to be implemented is going to free up money to spend into the plan step by step. Its a slow process, but it pays for itself. As far as the taxation part goes I don't know what has to be said to get it through everyone's heads HE'S ONLY RAISING THE TAXES OF THE UPPER CLASS. You know the insanely rich people who control 90% of the wealth in America. The rest of America, the lower and middle class and people who need their money, are getting the tax cuts this time around. The key to a prosperous country is a prosperous middle class. Under the Republican economic plans of the past eight years that middle class has been shrinking and sliding below the poverty line this stimulus package will bring back a larger middle class which is what a democracy needs to function.
Quote:
|
Originally Posted by Wayfarer
and for the record, Hoover was far from a true lassez-faire, capitalist president, in fact he was quite the opposite.
|
Hoover didn't actually intervene with the economy. He called for a temporary suspension of international debt payments, and organized a few worker oriented programs. The only economic intervention he did was meeting with corporate owners and all those conferences were...were conferences. No regulation was demanded.