In response to economic illiteracy

Discussion in 'Economics & Trade' started by Kenny Naicuslik, May 15, 2017.

  1. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    you said it where????
     
  2. Kode

    Kode Well-Known Member

    Joined:
    Feb 5, 2016
    Messages:
    26,505
    Likes Received:
    7,495
    Trophy Points:
    113
    Gender:
    Male
    Oh, so you don't want tax cuts for the rich. Sorry. I had the wrong rightie.
     
  3. Kode

    Kode Well-Known Member

    Joined:
    Feb 5, 2016
    Messages:
    26,505
    Likes Received:
    7,495
    Trophy Points:
    113
    Gender:
    Male
    Right where you saw it.
     
  4. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    and your point is you want to steal from the rich at gun point rather than help the bottom half earn their own money ?? Violence is the only policy liberals know.
     
    Last edited: Jun 4, 2017
  5. Kode

    Kode Well-Known Member

    Joined:
    Feb 5, 2016
    Messages:
    26,505
    Likes Received:
    7,495
    Trophy Points:
    113
    Gender:
    Male
    You have denied FDR did what I said successfully 73 times. And you're still full of BS.
     
  6. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    the right wants no taxes and no tax redistribution.
     
  7. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    FDR presided over 16 years years of depression and World War. If Obama's recession had lasted 16 years and led to world war he would be as great a hero to liberals as FDR is!
     
  8. Econ4Every1

    Econ4Every1 Well-Known Member

    Joined:
    Jan 3, 2017
    Messages:
    1,402
    Likes Received:
    302
    Trophy Points:
    83
    No, to the list of people who are surprised at your lack of knowledge in economics.
     
  9. Kode

    Kode Well-Known Member

    Joined:
    Feb 5, 2016
    Messages:
    26,505
    Likes Received:
    7,495
    Trophy Points:
    113
    Gender:
    Male
    You put lies in my mouth.

    Until you learn to discuss and debate like an adult with the intelligence I think you have, I'm done replying to you.
     
    Econ4Every1 likes this.
  10. Roon

    Roon Well-Known Member

    Joined:
    Feb 28, 2010
    Messages:
    5,431
    Likes Received:
    97
    Trophy Points:
    48
    Really? You are going to point to markets that are setting new records every month for how historically over-valued they are?

    Also - Janet Yellen? LOL.

    The housing bubble. The Student Loan bubble. The Stock bubble.

    Pick a bubble...any bubble.
     
    Kode and Longshot like this.
  11. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    P/E ratios are in the paper every day, attached to each stock etc etc, discussed by economists every day etc etc., and prices reflect all that. To pretend you know better is childlike and useless.
     
  12. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    so have you sold your house etc and invested??
     
  13. Kode

    Kode Well-Known Member

    Joined:
    Feb 5, 2016
    Messages:
    26,505
    Likes Received:
    7,495
    Trophy Points:
    113
    Gender:
    Male
    Actually the RSI is not in dangerous territory yet.
     
    Last edited: Jun 13, 2017
  14. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    housing bubble? So people like you in the know stand to make a fortune. Can you tell me approximately when I should sell my home. Thanks
     
  15. Longshot

    Longshot Well-Known Member

    Joined:
    Jun 15, 2011
    Messages:
    18,068
    Likes Received:
    2,644
    Trophy Points:
    113
    The housing bubble already burst.
     
  16. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    I find most threads created here occasionally require one to revisit the OP to determine what the topic was, and in my opinion should remain with the application of some self imposed moderation.
    The OP, also in my opinion, does not stray far from the truth.
    The OP, shown below, does not mention money.
    The first response asks:
    The answer to that question is an obvious 'no'. The government creates what we 'call' money and if you look at the face of each bill they contain the words "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE." Therefore, that which can be bought or sold, most especially debts owed the government 'require' the acceptance of government produced fiat currency.

    The next makes little sense, but...
    First, there probably would not be a window in the room door. Next, it is highly unlikely the occupant would remain in the room with the expectation of drowning. And even then why would they be asked for the key if they were in the room? Wouldn't it be more rational to ask them to simply open the door? How could the key be stolen without first gaining entrance, which would thereby eliminate the need of the key? If instead the person was not in their room, would they want their belongings to be removed before they got wet? Would a rational person not ask for a room exchange to one without a water leak? After all how comfortable would they be staying in a room with a leak? Besides, it is quite likely there would be a duplicate key available allowing the boat operator to gain access or in case the occupant were to lose their key.


    Taxes pay for a portion of governments spending. It's quite obvious taxes aren't applied to the principal, but the budget does indeed include a debt interest payment applied to the tax revenue collected.
    The 'problem' with fiat economies is that the means (fiat dollars or other fiat currencies) by which we transact exchange with one another have no intrinsic value of its own which allows governments to manipulate their economies to maintain the appearance of growth in both good times and bad, which results in inflation with only occasional deflation to ward of hyper-inflation.


    I've searched far and wide trying to find data showing how much tax revenue was collected at the 94% rate, if any at all.


    Just one, how many dollars of tax revenue was collected at the 94% tax rate?
     
  17. Econ4Every1

    Econ4Every1 Well-Known Member

    Joined:
    Jan 3, 2017
    Messages:
    1,402
    Likes Received:
    302
    Trophy Points:
    83
    Can you find a copy of the budget that show it?

    Here's a link to a Business Insider article that shows historical tax rates. There is a pic in the article that shows 1944 is the year. The pic is really blurry, but the last year in the image is 2008 and the years are marked off in 4 year increments. If you count back you'll see.

    Look at the huge leap in revenue from the previous year.

    Just one, how many dollars of tax revenue was collected at the 94% tax rate?[/QUOTE]

    From the Whitehouse budget website. I'm in a hurry on the way to work, if you'd like a link to the spreadsheet, I'll find and post it.

    [​IMG]
     
    Last edited: Jun 14, 2017
  18. Roon

    Roon Well-Known Member

    Joined:
    Feb 28, 2010
    Messages:
    5,431
    Likes Received:
    97
    Trophy Points:
    48
    Not really - they patched that hole and started pumping it back up before it got totally deflated. We are rapidly approaching its previous size.
     
  19. Roon

    Roon Well-Known Member

    Joined:
    Feb 28, 2010
    Messages:
    5,431
    Likes Received:
    97
    Trophy Points:
    48
    Stand to make a fortune? Nah...and I can't tell you when to sell your home...only that if you have a non fixed rate mortgage you are probably boned.
     
  20. Longshot

    Longshot Well-Known Member

    Joined:
    Jun 15, 2011
    Messages:
    18,068
    Likes Received:
    2,644
    Trophy Points:
    113
    It burst in 2008. And you're right, they did their best to re-inflate it.
     
  21. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    why not???you stupidly pretend to know the future ahead of all the markets???
     
  22. james M

    james M Banned

    Joined:
    Jul 10, 2014
    Messages:
    12,916
    Likes Received:
    858
    Trophy Points:
    113
    rapidly?? so when will it burst??? any idea at all or just BSing so if somethig happens in the next 20 years you can say you knew it all along?
     
  23. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    The U.S. Treasury divides all federal spending into three groups: mandatory spending, discretionary spending and interest on debt.
    The debt interest payment is an expense obligation which is applied to spending of the future Federal incoming revenue.
    The debt interest payment and the mandatory spending reduce the amount of revenue available for discretionary spending without taking on new debt.
     
  24. Ndividual

    Ndividual Well-Known Member

    Joined:
    Aug 21, 2013
    Messages:
    3,960
    Likes Received:
    638
    Trophy Points:
    113
    From the Whitehouse budget website. I'm in a hurry on the way to work, if you'd like a link to the spreadsheet, I'll find and post it.

    [​IMG][/QUOTE]
    Yes, I would very much like to see the entire data, but still see nothing that breaks down the amount of tax collected at the various rates including the 94%. Noted that we were involved in a major war after being attacked by the Japanese in 1941 which after seeing the events in Europe had a great impact on those who could afford to fund the war, not to mention those who could not as well. My Mother and Grandfather worked in the shipyard during the war, while my Dad, and most all my Uncles served in various branches of the military, not all of them surviving even though they had little at home to protect other than than their families. The crisis of a World War presents an acceptable necessity to raise taxes temporarily.
     
  25. Econ4Every1

    Econ4Every1 Well-Known Member

    Joined:
    Jan 3, 2017
    Messages:
    1,402
    Likes Received:
    302
    Trophy Points:
    83
    Here is a link to the historical data, the spreadsheet I took this from is the very first one on the list. I'm giving you the link because there is more there you might be interested in.
    https://www.whitehouse.gov/omb/budget/Historicals

    As far as the amounts collected at specific rates. I see what you're asking for now and I'm not aware of anything like that, but I agree that would interesting to see.
     

Share This Page