Taxes // Current TV

Cantor refuses to admit Reagan raised taxes

By Andrew Jones Monday, January 2, 2012 Appearing on the CBS News program 60... more

KB723
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Inhofe Calls For New Hearings On EPA’s Flawed Endangerment Findings

Finally the lies are being uncovered. Poor Al Gore could have made billions if he... more

AnthologyJoe [removed]
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Searchable Database Now Up For Latest Climategate Emails | EPA Abuse

Don't take their word for it, do your own research before you decide.

AnthologyJoe [removed]
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Steve McIntyre Exposes Climategate 2 Emails | EPA Abuse

Climate Gate, exposing the climate change lies.

AnthologyJoe [removed]
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The Grinch is a Republican that Caved

Republicans were so anxious to avoid extending the payroll tax cut for Main Street... more

TomCat1948
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Sen. Bernie Sanders: Congress works very well for the top 1 percent

By Eric W. Dolan Thursday, December 22, 2011 Sen. Bernie Sanders (I-VT) on... more

KB723
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McCain gets mad at Obama for Christmas shopping

By David Edwards Thursday, December 22, 2011 Why does Sen. John McCain (R-AZ) hate... more

KB723
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Obama showcases real-world cost of letting payroll tax cut expire

By Peter Nicholas, LA Times With most lawmakers gone for the holidays, President... more

KB723
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Christie: My job is tougher than Obama’s

By Andrew Jones Tuesday, December 20, 2011 Despite inheriting a recession, two... more

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How the GOP stole America+*

Thereare issues that are difficult to understand. The mass-endowing properties of a... more

LOrion
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Mitt Romney a Progressive? You Must Be Joking.

Yeah, Mitt is a progressive. Ok, he sort of leaned a little left when he was running... more

DebEquality
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Voice in the Wilderness: The Trickle-Up Theory of Economics Part II, December 13, 2012

Stephen Moore- Wall Street Economic analyst. He thinks like a Republican... more

charkeseharvey
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6 months ago
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The $600 Penis Pump

Your tax dollars at play http://takimag.com/article/the_600_penis_pump

shaidlekathy
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McConnell Lies Again!

Republicans want to raise YOUR taxes. They have played almost every dirty trick in... more

TomCat1948
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Where Are Our Priorities!!!

Okay, I switched off the news stations and put on sports radio figuring I need a... more

joeeddy
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U.S. Corporations Paid More to Lobby Congress Than Income Taxes

By employing a plethora of tax-dodging techniques, 30 multi-million dollar American... more

misfit20
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Economic Terrorism or Big Quack?

Yesterday House Speaker John Boehner (R-OH), introduced the Republican proposal to... more

TomCat1948
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Article: Don’t Forget the Empire Economy

The president gave an excellent address in Kansas on the economy Tuesday. He... more

frankpatton
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The Labor Market Recovery That Never Came

The recession has been officially over since last year, based on GDP growth. Although the NBER says that they take employment into consideration when they ame their assessment of economic activity, it does not count for much. When production begins increasing for 2 consecutive quarters, that is when the recession is over. However, the real recession is not over until employment reaches the level it was at before the recession started. Until then, any declaration of a recession being over is false.

Economists' joke: A recession is when your neighbor loses his job; a depression is when you lose your job. For many Americans, this country and the world for that matter, have been in a depression and it does not look like it is ending anytime soon. We are currently in a liquidity trap and have been for some time, as the Fed has kept interest rates at near zero, yet there is little or no increase in lending. Consumers are in the same situation, the current holiday spending not withstanding.

Economists warned back in 2009 and earlier that this recession would be close on a scale to that of the 20th Century's Great Depression. That come not just from not just Keynesians, but also from conservative economists like Martin Feldstein, Harvard professor and former economic adviser to Ronald Reagan, wrote in January 2009 that "this recession is likely to last longer and be more damaging than any since the depression of the 1930's." And a January 2009 survey of more than 100 economists, conducted by the National Association for Business Economics, found that that business conditions overall were the worst in the survey's 27-year history. At the time,78 percent of the economists said they expected GDP to keep falling.

The Wall Street Journal is reporting "Corporations have a higher share of cash on their balance sheets than at any time in nearly half a century, as businesses build up buffers rather than invest in new plants or hiring. Non-financial companies held more than $2 trillion in cash and other liquid assets at the end of June, the Federal Reserve reported Friday, up more than $88 billion from the end of March. Cash accounted for 7.1% of all company assets, everything from buildings to bonds, the highest level since 1963." While the Fed is reporting that U.S. households' net worth fell to $58.5 trillion in the second quarter, down $149 billion from the first quarter. With less money to spend and more Americans out of work, the economy will be depressed for many years to come.

The way out is to change the tax policies to increase spending by corporations to hire more workers. A corporate "tax holiday" to allow them to bring money back to this country, tied to an excise tax of 30% if the money is not used to hire new workers and build new infrastructure in addition to what is currently owned. This will get money back into circulation, get business hiring putting money in the pockets of Americans that will spend it on products that will in effect cause more employers to hire to meet this new demand.

Changing the tax policy on capital gains will also help to expand the economy and prevent speculative bubbles in the economy. Changing capital gains to a time and percentage based tax will slow the speculative nature of "investing", and put more emphasis on long term growth and stability. So holding a investment for less than 1 day would incur a tax of 90%. Reduce that over time and stability well come back into the markets, including those for sovereign debt.

Increasing the amount of industrial production in the US is another goal that must be achieved in order to prevent large scale, long term unemployment. We no longer have an industrial base which can absorb the unemployed. Service jobs and retail continue to utilize fewer workers to do the same thing. Further, those jobs do not create wealth. Wealth is created when raw materials are turned into finished goods. We are one of the few countries that have the capacity to provide the raw materials and the consumers to create wealth. We do not have to export our products, but will definitely help with growth. Nor do we need to import products on the scale that we do. If we have no manufacturing, we will eventually have no consumers.

We are beyond the point where the government has to get involved and start to create jobs. It has to be both the job creator, and the business motivator. Getting new infrastructure built (roads, bridges, sewers, water transport for drinking and navigation, electrical grid and high speed rail), spurring new economic activity in renewable energy and the export of that equipment, and in positive tax policies are what is needed to get this country, and subsequently the world out of this "recession".

http://www.huffingtonpost.com/2011/12/08/the-labor-market-recovery-unemployment_n_1137865.html

http://www.huffingtonpost.com/2011/12/07/jay-carney-economy-recession_n_1134196.htmlThe recession has been officially over since last year, based on GDP growth. Although... more

kvb1
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6 months ago
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Rise of the climate change sceptics: More than a third of Brits now think global warming claims are exaggerated

Just 22% are in favour of green taxes - compared with 31% a decade ago The... more

maasanova
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6 months ago
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