Tax the Rich!!! - Wait, Tax the Elderly!!!

[Rickson]

Originally Posted by jas66Kent

Actually, GDP is measured by expenditure or income. What I was trying to explain to him was how productivity influences GDP growth.

Also, consumption is only 70% of GDP.

So, retard much?

So you just said I was right and didn't know it...thanks man!

[jas66Kent]

Originally Posted by Rickson

Cutting taxes has boosted job growth every time it's been done, not sure what economics you have learned on planet pop tart but it appears you still believe in the proven wrong Keynesian dogman.

Any time you put capital out of the gov't hands it is used to create wealth and is employed in it's optimium DMVP.

Why is it wrong to let those who have the ability to create lots of wealth retain it? I'm not sure how artificially coming in and confiscating that wealth and then using it in the most wasteful ways will make us all 'better off'?

I think you are the full on retard of this thread. You've spouted more strawmen, economic fallacies and lies in this post than most can post in a year....epic fail!

I see I'm going to have to beat this into your head with a sledgehammer.

SUPPLY SIDE ECONOMICS HAVE BEEN AN ABYSMAL FAILURE FOR 20 YEARS. PERIOD.

Sop please stop this madness.

[Henry F Wagons]

Originally Posted by Rickson

Cutting taxes has boosted job growth every time it's been done, not sure what economics you have learned on planet pop tart but it appears you still believe in the proven wrong Keynesian dogman.

Deficit spending causes growth. Do you know of any tax cuts that were not accompanied by deficit spending?

Deficit spending is not a good solution as it is a spiral to death longterm.

[jas66Kent]

Originally Posted by Rickson

So you just said I was right and didn't know it...thanks man!

hahahahah So now consumption is GDP. lol ok

Hey genius:

GDP = C (Consumption) + I (Investment) + G (Government Purchases) + (X(exports)-M(Imports))

So now that "C" is suddenly all the GDP?

hahahahhahahaha...jesus christ.

[jas66Kent]

This is why GOP Economics do not work:

1. Cut taxes

Ok, fine, there's no real issue with that.


but then they,

2. RAMP UP SENDING TO ABSURD LEVELS

and then they complain when the debt balloons and the Economy goes into the shitter.

well, DUH.

[Rickson]

And GDP grows in cycles. You have boom periods (GDP growth) and bust periods (GDP decreases). But on a net basis, GDP grows slowly but linearly over time. In the US, it's usually about 1-2% a year (net) over time. You get GDP increases because labor becomes more productive and because of technological change. i.e. you can now produce more with a varying amount of labor and capital inputs.

Actually capt db this 'growth' you are seeing along with the boom/busts is simply inflation caused by the increasing/decreasing of the monetary base through fractional reserve lending. Austrian Business Cycle Theory 098, you should check it out. So once again you are showing complete and total ignorance of economics.

When labor becomes unproductive (high unemployment, high income inequality), you see a big nosedive in productivity and GDP growth.
They have less income, therefore they spend less (less consumption), which reduces potential GDP growth. A smaller workforce is also less productive. What you want is to find the sweet spot between wages and the natural rate of employment (about 6-7% now). If wages are too low, then unemployment will increase. Same thing happens if wages are too high.


Right now wages are too low, income inequality is high, which is why unemployment is also high. This has hurt our productivity and potential GDP growth.

You have this all backasswards jacktard. Right now the unemployment rate is way high because the minimum wage is way too large. The marginal cost of hiring someone is higher than the marginal benefit they would provide so hiring them would come at a loss...since business owners aren't dumb like you they want to maximize their profits so they don't hire when they know they will lose money. There are other contributing factors like welfare, unemployement benes. etc. but overall the wage rates need to fall drastically for the equilibrium to be restored.

We can go all day...You can throw out a lie or misconception and I can shred it.

[Rickson]

Originally Posted by jas66Kent

I see I'm going to have to beat this into your head with a sledgehammer.

SUPPLY SIDE ECONOMICS HAVE BEEN AN ABYSMAL FAILURE FOR 20 YEARS. PERIOD.

Sop please stop this madness.

Can you show me where the ABCT has been shown to be wrong? Who predicts the cycles and has detailed explanation of why/how/when? Who has a complete unified theory of what to do?

Hazlitt goes through point by point and destroys Keynes in "The Failure of New Economics". You should read it...although you don't even understand the Keynesian economics you spout off.

It's so funny because you have everything so backwards....I'm still not sure if this is an ALT troll job of the decade of if you are this dumb.

[jas66Kent]

At $7.25 our minimum wage is lower than just about every other country in the western world.

And yes, that includes Germany who has 6.7% U.

And you actually want to lower it?

Tell me, have you actually taken Development Economics? My guess is no, because then would realize the absurdity of that policy.

In this day and age, if you get paid $7.25/hr and work 50hrs/week, you are still below the federal POVERTY level. By following your mind-numbing and positively retarded Economic policy, you would increase the poverty rate.(Which is already bad enough at 17% and rising)

So pray tell me, how on gods green earth is that Economically desirable?

Is your mind so warped that to you: Increasing POVERTY = GOOD?

I await your answer with bated breath.

[Harry]

Originally Posted by Rickson

Actually capt db this 'growth' you are seeing along with the boom/busts is simply inflation caused by the increasing/decreasing of the monetary base through fractional reserve lending. Austrian Business Cycle Theory 098, you should check it out. So once again you are showing complete and total ignorance of economics.



You have this all backasswards jacktard. Right now the unemployment rate is way high because the minimum wage is way too large. The marginal cost of hiring someone is higher than the marginal benefit they would provide so hiring them would come at a loss...since business owners aren't dumb like you they want to maximize their profits so they don't hire when they know they will lose money. There are other contributing factors like welfare, unemployement benes. etc. but overall the wage rates need to fall drastically for the equilibrium to be restored.

We can go all day...You can throw out a lie or misconception and I can shred it.

lol

[Rickson]

Originally Posted by jas66Kent

hahahahah So now consumption is GDP. lol ok

Hey genius:

GDP = C (Consumption) + I (Investment) + G (Government Purchases) + (X(exports)-M(Imports))

So now that "C" is suddenly all the GDP?

hahahahhahahaha...jesus christ.

What are gov't purchases, consumption? What are we exporting vs. importing, importing way more than exporting so once again consumption.

What are we investing in captial wise, all overseas, so consumption. All are consumption my man...