• US to hit debt ceiling by Monday
    180 replies, posted
[QUOTE=UziXxX;38988189]Raising taxes does not stimulate economic growth- it slows it. History tells us this.[/QUOTE] So are you still in highschool or what? Because GDP doesn't correlate with taxation that simplistically, it's currently hard to argue tax rates have a major impact on it at all. You're talking about a huge multifactorial thing, not a slider between two selections in a videogame. [QUOTE=UziXxX;38988506]Reaganomics v. Obamanomics 101:[/QUOTE] Oh, you're just an idiot. Welp.
[QUOTE=SatansSin;38982581]Why don't they just print more money?![/QUOTE] [url]http://en.wikipedia.org/wiki/Inflation[/url]
[QUOTE=MaxOfS2D;38991240][url]http://en.wikipedia.org/wiki/Inflation[/url][/QUOTE] He was joking.
[QUOTE=Stopper;38982302]Can someone closely familiar with US' politics explain what this means in basic terms?[/QUOTE] It means we're about to go have roughhousing secret butt fun with Greece and all the others in the Pit of Dept.
[QUOTE=SKEEA;38982610]Looks like I'm not getting paid again.[/QUOTE] The fuck kind of job holds someone's pay?
[QUOTE=.FLAP.JACK.DAN.;38991317]The fuck kind of job holds someone's pay?[/QUOTE] The military withholds your pay sometimes during financial crises, but he's an idiot if that's why he's saying it because it's already been confirmed to us that we won't be having that happen this time. In fact, I'm pretty sure there's a 1.6% pay raise for military in January. Don't ask me why though, DoD needs a spending cut.
[QUOTE=Riller;38982309]God damn it, America. Get your shit together.[/QUOTE] Lol, you always say this.
[QUOTE=MaxOfS2D;38991240][URL]http://en.wikipedia.org/wiki/Inflation[/URL][/QUOTE] the joke mars your head Anyway how bad is Greece right now? The same boat we're headed for?
[QUOTE=LtKyle2;38991840]the joke mars your head Anyway how bad is Greece right now? The same boat we're headed for?[/QUOTE] Greece is a very different boat than the US. The Greek had to default on their loan payments, which caused all those problems. The US, if nothing is done, will face automatic spending cuts in all departments, which may be worse for the economy in the long run then just raising the ceiling.
Honestly I think that while the debt is a concern, it's not the largest. If you honestly believe that China or some other country is going to be running in and taking all of our stuff to pay the loans back, you're delusional. We should raise the debt ceiling, have some sort of New New Deal (this would probably increase debt substantially, but compared to Japan/Britain it would likely not be that large of a deal). This would kick start our economy and people could start paying off their personal debts. We could also be making investments in education, infrastructure, green energy even with this plan. From there, we slowly ease these jobs back into the private sector and begin taxing. [editline]27th December 2012[/editline] Although I've been called a bit of a radical, I just think why not do what we've done in the past?
[QUOTE=Zally13;38993851]Honestly I think that while the debt is a concern, it's not the largest. If you honestly believe that China or some other country is going to be running in and taking all of our stuff to pay the loans back, you're delusional. We should raise the debt ceiling, have some sort of New New Deal (this would probably increase debt substantially, but compared to Japan/Britain it would likely not be that large of a deal). This would kick start our economy and people could start paying off their personal debts. We could also be making investments in education, infrastructure, green energy even with this plan. From there, we slowly ease these jobs back into the private sector and begin taxing. [editline]27th December 2012[/editline] Although I've been called a bit of a radical, I just think why not do what we've done in the past?[/QUOTE] No, I dont think your a radical. I think your someone who has thought of a way to fix this hot-mess of a country. Its comes to a point where I think that if the US held a large forum on ideas on how to fix this country, the citizens would come up with some great ideas (but still not "the best" by any means). I think we all know that we need to cut spending and raise taxes. [editline]27th December 2012[/editline] and I bring this back up. [img]http://www.washingtonpost.com/blogs/wonkblog/files/2012/12/taxgraphic_fiscalcliff.png[/img]
[QUOTE=Zally13;38988910][Citation needed] [editline]27th December 2012[/editline] I have stuff that shows otherwise. [img]http://www.washingtonpost.com/blogs/ezra-klein/files/2012/09/clinton_gdp.jpg[/img][/QUOTE] Uh, actually... You have a graph that agreed with everything he just said. [QUOTE]From 1993 until 1997 the economy grew at 3.3% per year. That's about average. It was not until the 1997 tax cuts, which Clinton resisted but signed anyway, causing the economy to grow at 4.4%.[/QUOTE]
[QUOTE=Medevilae;38982423]If the US heads into a recession, Canada will feel it too[/QUOTE] Thanks a lot, America.
[QUOTE=laserguided;38982633]Cut defence.[/QUOTE] Reform healthcare, over $750 billion dollars is wasted on shitty management of the current system. It isn't all about defense, military budget isn't the only thing raising debt up absurdly high.
[img]http://i.imgur.com/6R8r0.gif[/img]
[QUOTE=Xenocidebot;38990612]So are you still in highschool or what? Because GDP doesn't correlate with taxation that simplistically, it's currently hard to argue tax rates have a major impact on it at all. You're talking about a huge multifactorial thing, not a slider between two selections in a videogame.[/QUOTE] No, I'm a university student. You seem to be mistaken on what I was talking about. It is simple math, honestly: If you are taxed less, you keep more of your earnings, thus you have more money to spend. [QUOTE=Xenocidebot;38990612]Oh, you're just an idiot. Welp.[/QUOTE] That just goes to show you that one side tries to use facts and history, and the other side doesn't give a crap. Welcome to the internet where opinions are fact, and sources don't matter.
[QUOTE=Morcam;38994406]Uh, actually... You have a graph that agreed with everything he just said.[/QUOTE] Far too inconsistent to attribute it to a single cause. [editline]28th December 2012[/editline] [QUOTE=UziXxX;38998913]No, I'm a university student. You seem to be mistaken on what I was talking about. It is simple math, honestly: If you are taxed less, you keep more of your earnings, thus you have more money to spend. That just goes to show you that one side tries to use facts and history, and the other side doesn't give a crap. Welcome to the internet where opinions are fact, and sources don't matter.[/QUOTE] Middle/Lower class is much more likely to spend money than the rich. Rich are more prone to save it. Giving more tax cuts to the middle/lower class increases demand more than the rich. Higher Demand = Higher Supply. That leads to job creation.
[QUOTE=TheSporeGA;38982392]Excuse me while I move to Canada[/QUOTE] Relevant: [img]http://imgs.xkcd.com/comics/canada.png[/img]
[QUOTE=UziXxX;38988506]When Reagan entered office in 1981 this is what he had to deal with: -Double digit unemployment (Peaking at 10.8%)[/QUOTE] What's this all aboot eh? When he entered office unemployment was steady around 7.5%. It only started rising several months after he had entered office, and peaked in late 1982, well into his first term. [img]http://puu.sh/1GkQ4[/img] [QUOTE=UziXxX;38988506]-Unemployment fell to 5.3% by 1989 from its high of 10.8%. (Take note that under Barack Obama, unemployment still has not gone under what it was when he took office)[/QUOTE] At the end of Reagan's first term, unemployment was at 7.3% - 0.2% lower than when he took office. At the end of Obama's first term it's at 7.8%, which is 0.1% lower than when he took office. So Reagan is ahead by 0.1% so far.
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