Here in Ca an electrician probably is in the $80 per hour area. So you think Hillary would play grab the wallet from the citizens to make her look good eh? I tell people the key to low taxes but high revenues to the Feds is velocity of money. Some think when you jack up the rich, it makes the economy work. If that was true, the economy never would have failed.I think why some hate the rich is just jealousy. See no admirer of Hitler tells you what his tax rate was and who paid what. https://www.ihr.org/other/economyhitler2011.html How Hitler Tackled Unemployment And Revived Germany’s Economy By Mark Weber T Use link for his spellbinding story. https://www.ihr.org/other/economyhitler2011.html
This is a Debate Forum and NOT A MESSAGE BOARD! You will kindly copy and place the comment to which you are referring. Then (and only then) will the software inform that person that their comment has had a rebuttal. (Or simply sarcastically answered as in your comment.)
If you do not quote the author to whom you are responding, they will never know. (Perhaps that is your purpose - but this is, after all, a Debate Forum. Fed bailouts (for you), Fed management of the budget to me. Here is the Fed Discretionary Budget: Not much room left once that HUMONGOUS BIT that gets wasted by the DoD! Yes, and I do mean wasted. There is No Need Whatsoever for that amount of money to be spent policing the world when/where there is no real threat to America or American interests. (Have we learned nothing from Afghanistan and Iraq!) The bigger threat is from within! We would better spending that money establishing a National Healthcare Service that just might arrest the diminishing lifespan of Americans ....
The US has been funding the DoD (that eats 50% of the Discretionary Budget) for a donkey's age. Why? Diminish that and we might just get a handle on that discretionary part. (Meaning it is the PotUS who decides the budget. Meaning Donald Dork just increased DoD expenditure to help fund his upcoming campaign to run again for PotUS*.) Were we to understand that it is by means of the Discretionary Budget that we build our debt, then maybe we could get a better handle on it. As it stands, the world LOVES TO HOLD OUR DEBT. Yes, that is the only reason that the Secretary of the Treasury is able to offset the Discretionary Budget debt by financing the debt. Which means selling it on the open-market. And the world LOVES TO HOLD AMERICAN DEBT. Why? Because the like the American Flag? Nope! Because the US has a vibrant economy and will likely keep paying off its debt-holdings. Don't like that? Neither do I. We are funding perpetually the DoD and IT IS THE WRONG EXPENDITURE! Far more important for the well-being of Americans are Healthcare and Post-secondary Education! And until Americans decide whether life-span or post-secondary education are far-more-important than the Dod, then NOTHING WILL CHANGE ... ! *And you thought that campaign spending has limits? Uh, uh. See here!
GIMME DA MUNEY! Here is what is Really Happening as regards campaign financing (from the NYT): From $25 to $10,000,000: A Guide to Political Donations Excerpt: Read on - the description is really quite interesting to answer your question, "From where does the election money come?" It is well worth your knowing how campaigns are "financed*" in our Greatest Democracy on Earth. With "kickbacks" if the receiving politician gets elected. Why do you think Donald Dork is twisting China by the you-know-whats?!? He's looking forward towards financing his campaign for reelection. With PLENTY of TV commercials - because that is how we SELL politicians in America ... !
Then try debating instead of making ridiculous remarks. That response was my reply to a jab, so put it in context before flapping away.
No, it doesn't! Printing dollars has no impact upon money-markets. It is interest-rates that do that. The Fed is most responsible for contractions when they get their interest-policy wrong. What tripped the Great Recession was not the Fed, however. It was the massive amount of unfounded (specious) loans that were made for speculative purposes. Which is tantamount to "massive fraud" but damn few banksters went to jail in the scam. That is, there existed no real background check on borrowers. Who were loaned the money to buy a house s/he could not afford long-term but they thought they could sell real quick and make a quick buck. Surprise, surprise when that didn't happen! It was purely speculative. Why does this not happen in Europe? Because European banks require a severe reality-check. Who you work for, how long you've worked there, how much you earn, what other debt do you own, etc., etc. ad nauseam. Divulging this sort of data (and you must have authentic proof of the information) dissuades "adventurers" very quickly. But, in the states making a Quick Thousand (or two or three or forty or a hundred) is a National Pastime. And it's about as risky as going to Vegas, which is where people should go rather than seeking real-estate quick-bucks. So? So, coming full speed in the direction of the American economy yet-again is another realty-crash. Mark my words ...
Many people were told by bankers that they could afford the house based on their income, even though it was a lie.
Perhaps it was true when they were told that initially and (Wham!) the Fit-hit-the-Shan and they were unemployed. Unless you are God, the future is highly unpredictable and that lesson was never more poignant than in the SubPrime Mess. I'm only debating about the General Case, not the specific case of any individual ...
Yes, but so what? The context was this: Nobody foresaw the SubPrime Mess before it happened. Nobody! It was like a sudden car-crash. And as a result, there were a lot of bankers who lost their jobs as well ... PS: It is a real shame that Economics is not a secondary-school prerequisite. Some "innocents" really do not understand how the economy they live in actually functions!
That happened for sure. However, many with jobs bought houses and were way over their head based on their income.
Actually, they could not afford the mortgage payment or maintenance. True, it was like a car crash. I was buying a hiuse just befor the crash and was selling a house. The mortgage lender told me that I could carry two homes if I wanted to. I was surprised at this.
If If you are referring to Obama, his spending got us out of the most severe recession since the Depression and the deeper the recession, the longer it is to recover and recover was certainly in process when Trump appeared.
I do not know what you were trying to mean by that. Since when has the Fed ever tried to bring interest rates above the natural market rate? Do you know what the Fed would have to do to actually raise interest rates? They would have to borrow money, and pay higher interest on that. Printing more money to pay the higher interest would also create inflation.
The KOCH Brothers .. and numerous other smart Republican voices like from the "American Conservative" https://www.theamericanconservative.com/articles/the-conservative-case-for-universal-healthcare/
That's not absolutely completely true. Also, about a year before the official start of the Recession, there were clear indications the housing market was obviously overinflated. Anybody wise who had some sense about them and was looking to get involved in the housing market could, and did, see it coming at that point. Although most reasonable people underestimated its severity by about half.
Printing dollars does not mean that they increase the Money Supply. Since when has the Fed ever tried to bring interest rates above the natural market rate? Pay higher interest-rates? They make the rates! The Fed does not borrow money. It lends money( obtained by selling T-notes) to banks who "borrow" it in order to loan it to "borrowers" ... Printing money does not create funds. T-Notes denominated in dollars sold on the open-market brings in the funds. The T-notes debt being repaid over time is worth less and less due to inflation.
You don't think lenders take this into account when buying T-notes in the first place? I think your string of logic here leads to a dead end.
You don't know how to debate. Period. I frankly don't give a damn. I warn people and then if they get cranky, like you, I just put them on Ignore. Bye, bye ...
That is actually true, it's the ratio of outstanding reserve notes ("money") to worth of the Reserve Assets, but that's not what you were trying to get at. So how can you say that expanding the money supply doesn't cause inflation? Hard to take you seriously without some further explanation.