Taxing our way to prosperity

[dawgball]

From the same acquaintance:

http://forum.belmont.edu/cornwall/archives/009248.html

Roger Cohen offers a stark analysis in the International Herald Tribune:

The West's moment, I thought, is passing. Money and might are increasingly elsewhere. America's little dose of socialism from Ben Bernanke and Hank Paulson might stave off the worst but cannot halt the trend. Then I arrived in Hong Kong. The talk was all about how U.S. economic woes could impact Chinese growth. Might it tumble to 8 from over 11 percent? And what of India, powering along with growth of a mere 8 percent or so? The West should have such troubles! Even revised downward, these growth rates are at levels Europe and the United States can only dream of.
As the world moves toward capitalism, the US marches on in the other direction to socialism. France has lower corporate taxes than half of all US states. China is embracing capitalism at a break-neck pace. America is debating about how fast to federalize health care, energy, housing and how quickly we can increase our taxes to pay for it all.

I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. Winston Churchill

 

[dawgball]

And when a guy like Jeff talks like this, that's when I get concerned. Not a talking head. Not a "journalist" trying to get published. Just an honest, well-versed business mind.

Recession clouds appeared in the skies over Main Street, according to the most recent National Federation of Independent Business Small Business Economic Trends member survey. The NFIB Index of Small Business Optimism fell 3.3 points in March to 89.6 -- its lowest reading since the monthly surveys were started in 1986, and the lowest quarterly reading since the second quarter of 1980. The decline was driven by a sour outlook for business conditions and real sales growth, accounting for half the decline in the Index. Weaker plans to create new jobs accounted for 21 percent of the decline.

"We are seeing recession readings," said NFIB Chief Economist William Dunkelberg.

What is worse is that the labor market is still somewhat tight and price pressures continue to push costs up.

More signs that stagflation might be on the horizon.

http://forum.belmont.edu/cornwall/archives/009252.html

 

[ImFeklhr]

I work for a large small-business (or small medium sized business, depending how you look at it), and we've taken a beating the past 6 weeks.

We are in retail and we sell products made in Europe, so we are getting hit with recession here, AND getting killed because of the value of the dollar against the Euro. Our prices have increased 50% in the past several years. Not good. :nono:

 

[lewehands]

:toast:

 

[redsfann]

From the same acquaintance:

http://forum.belmont.edu/cornwall/archives/009248.html

I can't believe I missed this thread since you first posted it, Dawgball. Quite sobering regardless of where you fall on the political spectrum. Totally agree with this writer. I remarked to many of my friends that the bailout of Bear Stearns is about as Socialistic as you can get in this country, yet the Right is very strangely silent about it.:shrug:

 

[WhatsHisNuts]

The problem is you can't have it both ways: You can't cut taxes and pay for a war with money you don't have/generate. If our situation was such that we didn't have to fund a war, we could take about economic strategy and policy. Unfortunately, we're fighting to survive, not thrive. Anyone who thinks that our status as the world's only superpower will never end....stay tuned.

 

[dawgball]

I can't believe I missed this thread since you first posted it, Dawgball. Quite sobering regardless of where you fall on the political spectrum. Totally agree with this writer. I remarked to many of my friends that the bailout of Bear Stearns is about as Socialistic as you can get in this country, yet the Right is very strangely silent about it.:shrug:

Exactly, redsfann. I don't watch much news outside of CNBC, so I don't see what is talked about much from the political side of things. But I have noticed that there hasn't been as much talk on this board as I would expect about the Bear Stearns situation.

I, personally, have no interest in living in a socialist environment. And unfortunately I feel both of our political parties covet this more than anything. And even more unfortunate, it appears that most Americans want this as long as the Socialism benefits them directly. The problem with this thought process is that you have to have producers to provide for the socialist benefactors. Continued taxes do not encourage production.

 

[WhatsHisNuts]

I, personally, have no interest in living in a socialist environment. And unfortunately I feel both of our political parties covet this more than anything. And even more unfortunate, it appears that most Americans want this as long as the Socialism benefits them directly. The problem with this thought process is that you have to have producers to provide for the socialist benefactors. Continued taxes do not encourage production.

You already live in a socialistic environment. We have all sorts of government services that we pay for via taxes (military, post office, road commissions, etc.). I'd like to see a lot more privatization myself, but I'm not gonna let some right wingers convince me that all is well and this a capitalistic society threatened by socialist Dems that want the government to pay for your medical benefits.

A lot of companies used to pay 100% of the medical benefits of their employees. The burden has since been passed off, incrementally, to the people. The people don't want/can't afford the increasing costs, so hear we are. The game has changed.

 

[The Sponge]

I remarked to many of my friends that the bailout of Bear Stearns is about as Socialistic as you can get in this country, yet the Right is very strangely silent about it.:shrug:

I said the same thing in here a few times Reds with no response from the righties. It was stunning how quiet that side got almost if they were all banned. Socialism is just fine with them as long as it is for billionaires. they love the free market system as long as it is for profit. When it comes to losses and if your are a billionaire its okay to become a socialist gov't.

Dawg Bear Stearn was touch on a few times but not many wanted to engage in the debate. it got about as much response as those two terrific Health care articles that Chad posted about a month ago that pissed away in the wind. Unfortunately for me my hands were tied or I would have commented on them.