An economics thread?!?

[Jiddy78]

This could be fun.

[Vegas]

I agree. What economic thinking do you subscribe to? I'm a hardcore monetarist...mv = pq

No silly modeling. Just solid math.

[Jiddy78]

I agree. What economic thinking do you subscribe to? I'm a hardcore monetarist...mv = pq

No silly modeling. Just solid math.

A few things I agree with from the monetarist perspective...

#1 I think going back to the gold standard would be futile...The real issue isn't what physically backs money...It is WHO backs money. Gold isn't worth two sh*ts if you're starving to death...and frankly, if everyone else around you is as hungry...well then...Besides, the gold standard hardly prevented inflation, deficit spending and defaults when it was in use, why would that change now now?

#2 I actually think the Federal Reserve IS a good thing in theory. I would hate to see the resulting interest rate exploitation that would occur globally without the Fed...Although, it's hard to back them with the monumental f*ckups that have occurred over the past few years...that WILL result in significant economic pain for a good portion of our country...Heck, it already is.



The big beef I have is that people hide behind a concept of "supply-side" economics...They wear it like a badge of honor or something...I always reply the same simple way...I agree with you...Somebody will want what is being sold eventually....after the owner has gone bankrupt.




Economics is really a bunch of people agreeing with each other in concept...just disagreeing on timing. :p

[pnkpanther]

I dont like 'supply side' or vodoo economics i'll tell you that much

[Jiddy78]

I dont like 'supply side' or vodoo economics i'll tell you that much


Thus you're a commie....Extremists really put a rump in me.

[Jiddy78]

I just realized...This should read "An economics FORUM"...Not thread.

I'm a dum dum.

[Vegas]

I dont like 'supply side' or vodoo economics i'll tell you that much

So are you condoning marginal tax rates of 70% again?

[pnkpanther]

So are you condoning marginal tax rates of 70% again?

never have never will

but i dont think poor people who dont pay taxes are the lucky ones....

I also wasnt against Bush's tax cuts to some extent, taxes needed to be cut. it's the amount of cuts and who primarliy benefited.

I dont hate rich people, i dont fault them, i wouldnt want them to pay tax's. You want my honest opionon? max tax rate should be about 35%, i believe right now it's 40%, but anyone who's rich is smart enough to shield their income so it's much lower. Actually, i think it should be about 25% ceiling, but right now thats unreasonable, we're in a very expensive war, that due to Bush going at it alone, we have to foot the bill.

I dont think US should be world protectors, not or job. I dont think military spending is all bad, it provides millions of job's and billions of revenue, but i think we can make cuts.

I also think government (both sides) should spend wiser, just doesnt happen. I'm only 27, 8 years with Ronnie, 8 Years with clinton, and the rest filled run by Bush family...(not counting brief months during the jimmy carter era) and during that time, Republicans have outspent the democrats, Ronnie trippled our national debt, Clinton ran first balanced budget since Andrew Jackson (with help from his republican congress, although not a single republican voted for 93 defecit reduction act, which severeal conservatives consider a success) and Dubya spending is out of control

in my lifetime i'd rank them

Clinton, Bush Sr, Ronnie, and then Dubya

I think Bush Sr did a fine job in his time especially with the Mess Reagen left him.

I'm fiscally conservative, before 1980, my fiscal/economical views would fit more in line with republicans....

[Vegas]

So you agree that when Reagan inherited a top marginal tax rate of 70% that it was right to cut that. I guess that makes you a supply sider, but now we just need to figure out to what degree you are a "voodoo economics" guy as you put it.

And you need to get the idea out of your head that I think anyone is "lucky" to be poor. I never said such a thing. I've been poor and didn't like it.

And rich people can figure out how to "shield their income?" That's a hoot. You want them to have higher tax rates so they can figure out how to not pay anyway since they'll be "shielding their income" and that serves no purpose. Why not a flat tax or at least a lower overall rate with less deductions so the rich people can weasel out of it (in your opinion) by this shielding you speak of?

[pnkpanther]

So you agree that when Reagan inherited a top marginal tax rate of 70% that it was right to cut that. I guess that makes you a supply sider, but now we just need to figure out to what degree you are a "voodoo economics" guy as you put it.

And you need to get the idea out of your head that I think anyone is "lucky" to be poor. I never said such a thing. I've been poor and didn't like it.

And rich people can figure out how to "shield their income?" That's a hoot. You want them to have higher tax rates so they can figure out how to not pay anyway since they'll be "shielding their income" and that serves no purpose. Why not a flat tax or at least a lower overall rate with less deductions so the rich people can weasel out of it (in your opinion) by this shielding you speak of?

well, you keep thinking i'm against tax cuts.

I think rich should pay more taxes, the bible agrees.

America had no federal income tax until those damn southerners tried to form their own country, so the civil war set us back and America instituted a 10% income tax. I blame the south.

[Vegas]

well, you keep thinking i'm against tax cuts.

I think rich should pay more taxes, the bible agrees.

America had no federal income tax until those damn southerners tried to form their own country, so the civil war set us back and America instituted a 10% income tax. I blame the south.

I never said that the rich shouldn't pay more taxes.

[pnkpanther]

I never said that the rich shouldn't pay more taxes.

we're closer then we probably think and are probably arguing semantics

we do agree money is mismanaged

I dislike military spending

you dislike social spending

i think we both dislike corporate welfare

I think if dem's/rep's could get their shit together, cut the pork, and get serious, we could run a balance budget and max marignal rate of 25/30% which I feel is acceptable. I think we can do that and still spend on education and healthcare, of course we'll have to work on contorlloing those costs and run efficent...

I think we need to redo some of our subsidies, but not everyone will agree what programs should be cut.

I pick the worse of th worse Repubilicans to point out (bush/delay) and you pick on worse dem's.

I have no beef with death taxes, capital gains taxes, which i'm sure we disagree on as well...

but i think we're closer then we think.....

during the 60's marginal tax rate was close to 60% and that was one of strongest periods of economic growth...then nixon took over

[Vegas]

we're closer then we probably think and are probably arguing semantics

we do agree money is mismanaged

I dislike military spending

you dislike social spending

i think we both dislike corporate welfare

I think if dem's/rep's could get their shit together, cut the pork, and get serious, we could run a balance budget and max marignal rate of 25/30% which I feel is acceptable. I think we can do that and still spend on education and healthcare, of course we'll have to work on contorlloing those costs and run efficent...

I think we need to redo some of our subsidies, but not everyone will agree what programs should be cut.

I pick the worse of th worse Repubilicans to point out (bush/delay) and you pick on worse dem's.

I have no beef with death taxes, capital gains taxes, which i'm sure we disagree on as well...

but i think we're closer then we think.....

during the 60's marginal tax rate was close to 60% and that was one of strongest periods of economic growth...then nixon took over

I don't dislike social spending. I dislike the way it's been implemented and the extreme waste in management. I would never take away benefits from the truly needy.

I believe in having a strong military (as guaranteed in the constitution), but hate the waste there as well.

Death taxes, capital gains, those are subject to debate. I'm not sure if you realize how much double,triple, quadruple, etc. taxation goes on. It's counterproductive.

Nixon....hardly one of my favorites. I find it fascinating that in my family there were/are a lot of really hardcore Republicans. They loved/love Nixon regardless of what he did and hated JFK. But if you really look at where both of them stood, JFK would pretty much be a conservative Republican today and Nixon would be a liberal Democrat. I've angered some people on both sides pointing that one out.

[Jiddy78]

I never said that the rich shouldn't pay more taxes.


Then you need to make more money...:p

[Jiddy78]

I don't dislike social spending. I dislike the way it's been implemented and the extreme waste in management. I would never take away benefits from the truly needy.

I believe in having a strong military (as guaranteed in the constitution), but hate the waste there as well.

Death taxes, capital gains, those are subject to debate. I'm not sure if you realize how much double,triple, quadruple, etc. taxation goes on. It's counterproductive.

Nixon....hardly one of my favorites. I find it fascinating that in my family there were/are a lot of really hardcore Republicans. They loved/love Nixon regardless of what he did and hated JFK. But if you really look at where both of them stood, JFK would pretty much be a conservative Republican today and Nixon would be a liberal Democrat. I've angered some people on both sides pointing that one out.

Military is the best worthless paper money we spend....If that money isn't spent, the chindians will no longer make us worthless crap.