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Old 06-14-2006, 02:02 PM   #111
johnnyb
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Default Re: Rich Man, Poor Man

basic fact is tax rate is much less progressive. Top rate was 70% now it is less than half that. And the ratio of pay betw. highest and lowest paid employee has increased exponentially in U.S.



globalization means profits for shareholders mostly, and what's good for shareholders usually isn't so good for workers.



now we got the haves and the have mores.



Sure, the taxes those guys at the top don't pay stimulate the economy. Laffer Curve makes real economists laugh.
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Old 06-14-2006, 02:35 PM   #112
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Default Re: Rich Man, Poor Man

Your Dad probably had a mortgage of around 4% and got a passbook rate on savings of around 2-3%. Today passbooks are lucky to get 1% while mortgages run 6-7. During Carter it was over 14%. Yikes!



Sales tax was around 3% in the 50s. Today, what, 6-9%? Gas taxes have quadrupled. all in all in the US when you figure the entire cost of govt it takes in about 50% of the economy, Fed, State and Local. In the 50's it was more like 15%. Phone taxes, energy taxes, taxes on taxes.....



My Dad was a PacTelephone repairman and managed to rase two kids and send up both to private school and buy a house on his salary. Try that today. It's the unbridled greed of govt that's chewed up buying power through direct and indirect taxes and the hidden tax of inflation. Inflation has been out of control since WWII. It's been only slightly less outrageous lately. Our lifetimes are too short to remember how little govt cost us even 50 years ago. And since we get virtually nothing more from it than we did back then one wonders where all that money goes.



Well, actually it's mostly paychecks for the lazy and subintelligent... govt workers... er I mean timeservers.



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Old 06-14-2006, 02:47 PM   #113
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Default Re: the colors..the colors...

Ain't Amsterdam damn fun?
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Old 06-14-2006, 02:51 PM   #114
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Default Re: the colors..the colors...

..musta got lost. Like the time one of my ex-bosses got picked up in a prostitution sweep driving the company van. "Honest officer I just stopped to ask for directions..."
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Old 06-14-2006, 02:59 PM   #115
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Default Re: Rich Man, Poor Man

Hey maybe if Clinton wasn't busy getting blowjobs, he could have reversed all the bad that Reagan did. Of course, since he did virtually nothing in 8 years except pass NAFTA and solicit bj's whereever he could get em, I guess he gets a big pat on the back from you JB. Him and the other clown Carter get your vote every time.
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Old 06-14-2006, 03:02 PM   #116
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Longsnide you have lost a step man. took u awhile to get to clinton blowjob. which is of course a far greater sin than commencing an unneccessary war which has brought death suffering and poverty to untold numbers of people.
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Old 06-14-2006, 03:05 PM   #117
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Default Re: Rich Man, Poor Man

You mean he did better than Kennedy and Johnson?
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Old 06-14-2006, 03:05 PM   #118
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Default Re: Rich Man, Poor Man

Excellent synopis...Laffer was from San Diego State or USC? Buz do you know? The only way that works for all is to grow the middle class as was done during the Clinton years. How do you do that? Fiscal responsibility is step one.. Do everything you can to encourage home ownership and savings.Don't have the U.S. government borrowing crowd out business investment leading to higher interest rates. The only way the Govt gets out this mess now is to print more money leading to inflation or balance the budget by raising taxes on the wealthy. Believe or not before Reagan/W the above thoughts were Republican policies (Ford, Nixon, Bush Sr).. Remember both Kennedy and Clinton were fiscal conservatives, social liberals but fiscal conservatives.. Deficit Spending at this level is dangerous and leads to a boom/bust cycle like the 80s.. You want the 90s version of sustained growth via wise fiscal and monetary policy... one more thing the economy is a man made thing so it can be controlled... if the political will is there..
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Old 06-14-2006, 03:06 PM   #119
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Default Re: Rich Man, Poor Man

Not a fair comparison.



Houses and cars (so far) are not cyclical products. You don't see any years between 1958 and 2005 that either were not sold and this is why cross generational studies always use items like houses, clothing, food and cars to assess the overall cost of living.



Cyclical products are expensive at their launch and cheap at their phase out, so depending upon what result you want, you could choose three products at their phase out (like you have) and come to the surreptious claim that because the three examples are so much cheaper, the cost of living must be lower, too.



I could also go the other way, though, and use a 15K plasma like the one I saw at Costco the other day, a DVR HDD recorder and a Blu-Ray player and come to the conclusion that things have gotten a lot more expensive than my Dads LPs, 16mm tape and 19" B+W TV.
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Old 06-14-2006, 03:09 PM   #120
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Default Boom Bust Vodoo economics by W (Laffer boy Cheney)

Rising interest rates is what is killing housing... part of the vodoo economics W is praticing... Government is now borrowing at record rates crowding out business investment (mortgages).. i.e. business has to pay a higher rate of return than the guaranteed government rate.. It's the 80s all over again.. Remember Cheney said deficits don't matter.. Greenspan and 99% of the economist say deficits do matter.
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