Economy explained in less than 3 minutes

localboy":32y4dhqx said:
On what social issues should we "take a pass?"
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I have a HUGE list. Where would you like me to start?

Shall we begin w/ welfare, food stamps etc? How about drug "treatment" programs?

I dare say we are all willing to do those things right now that affect others . ... those that affect us, well maybe way down the line in twenty or thirty years.
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Well, I think it's basically everybody's fault but mine. If one of you guys would come up with a 14 footer I can afford, I'd be gone in a New Jersey minute. To my friend Mark let me say in closing, I do appreciate your prompt and thoughtful response to my post. I take no pleasure (well maybe just a little) in pointing out that it confirms my thesis that we are glad to have the other guy do the sacrificing. Hi mom.
 
Indeed. It appears some will sacrifice more than others.

As quoted by you:
I thank God everyday for my union , my pension, my Social Security, my Medicare and my VA benefits.
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In the future, when I have to explain to my g-kids why the pot is empty and why they work so hard only to see the gov't take and take and take, I'll show them your quote and explain about "sacrifice".
 
localboy":droc9nyo said:
Indeed. It appears some will sacrifice more than others.

As quoted by you:
I thank God everyday for my union , my pension, my Social Security, my Medicare and my VA benefits.
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In the future, when I have to explain to my g-kids why the pot is empty and why they work so hard only to see the gov't take and take and take, I'll show them your quote and explain about "sacrifice".
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I'm trying to stay out of this but I'm not sure your point in this reply. Like the other poster, I have a pension (2) and they were part of my compensation to retain me at the companies that offered them. I have social security and that was after I paid into it the maximum every year for the bulk of my working life , usually by the end of March because of the limits to what we pay. I will have Medicare because that's the only way the elderly in this country can get any kind of insurance since the health insurance companies are motivated to cut their risk pools to only the most healthy. But I also contributed to Medicare at the maximum. I have access to VA benefits because I served my country for 4 years when most people I know have not. I also consider those benefits part of the compensation my country offered to me for that service.

Now as to sacrifice, I supported and still do the idea that we bring tax rates back to pre-Bush rates for income that exceeds $250K a year. I am in that group and think we can't solve this problem without increasing revenue. A sacrifice? Maybe, but an unreasonable one? Hardly.

I agree with moving the social security retirement age up and taking off the limit on social security contributions. Painful? Maybe, but again, not unreasonable.

I agree with changes in how we manage health care funding by having a public option as I see no value add to health insurance companies and their profit. And I think Medicare should be able to negotiate drug prices, etc. having spent a good part of my career in Pharmaceuticals and medical devices.

Finally, if you want to know what to tell your grandchildren, tell them that the world constantly changes and they have to continuously educate themselves to compete in it. It is what it is and it's up to them to make their way though it.

My grandparents didn't pay social security taxes because it didn't exisit until late in their lives, but I did. They never paid the amount of taxes that I have but they never enjoyed the opportunities and income that I have.

These problems are not solved by one side or the other. It will take working together. Our current politicians are listening to us and as a result they thump their chests, draw lines in the sand and stand still while China is beating us economically.

Disband the Tea Party and Move On.Org and become the American Party.

That's my rant for today and now I'll go back to my boat.
 
rogerbum":sxzlaxd5 said:
Southlake - IMHO, that's one of the best posts to this thread to date and I couldn't agree more.
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Likewise!

I certainly agree that we need a new political party with an agenda based on logical compromise, pragmatism, and dedicated to finding new solutions to the economic and social problems faced by this country in a new era in a much revised world.

Joe. :teeth :thup
 
For those who feel that our ecoonomy is worth more than 3 minutes, I am currently reading a book (Kindle edition) "Econoclasts: the Rebels Who Sparked the Supply Side Revolution and Restored American Prosperity by Brian Domitrovic. This book examines the last 100 years of the economy of the USA. Although it is anti Kenyesian, it explains each point and the role each person played in the economic crisis. It is well researched and documented. Not easy reading (at least for me), but very interesting. One point which is well taken is that much of the loss of the middle class is taxation by the government. Each time you get a "raise" for COLA, you are placed in a higher income tax bracket. Your standard of living does not increase, and in many cases may actually go down. Also "investments" often loose value, due to inflation as well as taxation. I was personally in a situation where I cut back my work hours because of high taxation (Calif during high federal tax times), because I took home so little more, and paid more tax. I expect that other C brats who were working in the 70's were in the same situation.

I repeat a warning as a physician. Medical care quality will decline for the average person--especially those on Medicare. More physicians will no longer take Medicare patients. There will be three standards of medical care: Those who can afford private care, and insurance, along with Conciege medicine, Medicare and most insurance policies, and Medicaid (the lowest). I recently found out that my Medical group had been bought out by an investment corporation which is buying up most of the groups in S. Calif. Many physicians feel that the FDA recent Avastin decision is part of a politically motivated plan to decrease the costs of medical care. This is just the begining. You will see far more control by people who do not have your personal best interests in mind.

I just read a report that CBO estimates that our real national debit is closer to $120 Trillion--not just the public debt of 14 trillion. This includes money "Borrowed" from one part of the government to use in another part. It also projects that annual defecit will be over 100% of GDP in 10 years. The US population is somewhere near 310 million. The number of tax filers is somewhere about 150 million, however we know that less than 120 million people actually paid tax. Using these simple numbers it means that every single tax pay's portion of the real government debit is closer to one million dollars, not a much smaller number which we have usually associated with the "public" debit.

The US cannot sustain this high level of debit.
 
Dr Bob – as always a good post. And taking more money from the top 2% or 3% of the tax payers (those making over $250,000) will not come close to solving our problems. You can tax them at 100% and still not solve the problems. We will still be short of balancing the budget and cutting the deficit. YOU HAVE TO CUT SPENDING and get the government off the backs of those that produce wealth.

Dave dlt.gif
www.tolandmarine.com
 
It doesn't matter who agrees with whom, the fact remains the problems will never be solved via C-Brats.com. I sure wish we could let this one go.
 
oldgrowth":1z6mwn10 said:
Dr Bob – as always a good post. And taking more money from the top 2% or 3% of the tax payers (those making over $250,000) will not come close to solving our problems. You can tax them at 100% and still not solve the problems. We will still be short of balancing the budget and cutting the deficit. YOU HAVE TO CUT SPENDING and get the government off the backs of those that produce wealth.

Dave dlt.gif
www.tolandmarine.com
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:thup
 
beat_dead_horse2.jpg
 
I too would agree that it is a dead horse, if only it wasn't also your financial well being and future, and possibly your very life. We need to constantly remind ourselves that as Americans we have responsibilities to each other and ourselves. I think these threads help a little with that.
 
I agree, we need to start talking to each other without devolving into, "Oh Yeah! So's your mother!" The Wisconsin Supreme Court can't talk, and they're about as useful as those appendages on the chest of a boar hog.
 
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