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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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#1
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Economy grows 4.1 - DOW busts 16000! Thank you POTUS.
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#2
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Economy grows 4.1 - DOW busts 16000! Thank you POTUS.
not metal/machining related
On Fri, 20 Dec 2013 14:30:29 -0800 (PST), "Daring Dufas: A hypocrite TeaBillie on welfare!" wrote: http://www.csmonitor.com/Business/20...-a-better-2014 ===================== Wall Street is not Main Street, and a stock bubble is not economic improvement but rather financial "speed" or "crank." |
#3
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Economy grows 4.1 - DOW busts 16000! Thank you POTUS.
"F. George McDuffee" wrote in message ... not metal/machining related On Fri, 20 Dec 2013 14:30:29 -0800 (PST), "Daring Dufas: A hypocrite TeaBillie on welfare!" wrote: http://www.csmonitor.com/Business/20...-a-better-2014 ===================== Wall Street is not Main Street, and a stock bubble is not economic improvement but rather financial "speed" or "crank." In other words, "trickle down" economics is nothing but a hoax. |
#4
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Economy grows 4.1 - DOW busts 16000! Thank you POTUS.
On Sat, 21 Dec 2013 22:08:05 -0800, "PrecisionmachinisT"
wrote: "F. George McDuffee" wrote in message .. . not metal/machining related On Fri, 20 Dec 2013 14:30:29 -0800 (PST), "Daring Dufas: A hypocrite TeaBillie on welfare!" wrote: http://www.csmonitor.com/Business/20...-a-better-2014 ===================== Wall Street is not Main Street, and a stock bubble is not economic improvement but rather financial "speed" or "crank." In other words, "trickle down" economics is nothing but a hoax. ====================== That's what the historical record shows over the last 30 years, although I don't know if I would call it a hoax or a popular delusion, very much like the witch mania of New England, it sounds very plausible, and most people want to believe. Overt implementation can be traced back to about 1982/3 with Reagan/Stockman http://en.wikipedia.org/wiki/David_Stockman and this is about the time median inflation adjusted per capita income ceased to increase, and labor's share of GDP began to fall. http://www.businessinsider.com/what-...r-share-2013-9 http://en.wikipedia.org/wiki/Trickle-down_economics snip The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory." He wrote, "Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: 'If you feed the horse enough oats, some will pass through to the road for the sparrows.'" Galbraith claimed that the horse and sparrow theory was partly to blame for the Panic of 1896.[14] snip http://en.wikipedia.org/wiki/Laffer_curve snip For a reduction in tax rates to increase revenue, the current tax rate would need to be higher than the revenue maximizing rate. snip The New Palgrave Dictionary of Economics reports that a comparison of academic studies yields a range of ==revenue maximizing rates that centers around 70%.[2]== {emphasis added UG} Economist Paul Pecorino presented a model in 1995 that predicted the peak of the Laffer curve occurred at tax rates around 65%.[12] A 1996 study by Y. Hsing of the United States economy between 1959 and 1991 placed the revenue-maximizing average federal tax rate between 32.67% and 35.21%.[13] A 1981 paper published in the Journal of Political Economy presented a model integrating empirical data that indicated that the point of maximum tax revenue in Sweden in the 1970s would have been 70%.[14] A paper by Trabandt and Uhlig of the NBER from 2009 presented a model that predicted that the US and most European economies were on the left of the Laffer curve (in other words, that raising taxes would raise further revenue).[11] snip But this is just the opinion of a few of the world's top economists -- what do they know? There is no such thing as a free lunch, and if something seems to good to be true -- it is. |
#5
Posted to rec.crafts.metalworking
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Economy grows 4.1 - DOW busts 16000! Thank you POTUS.
"F. George McDuffee" wrote in message ... On Sat, 21 Dec 2013 22:08:05 -0800, "PrecisionmachinisT" wrote: "F. George McDuffee" wrote in message . .. not metal/machining related On Fri, 20 Dec 2013 14:30:29 -0800 (PST), "Daring Dufas: A hypocrite TeaBillie on welfare!" wrote: http://www.csmonitor.com/Business/20...-a-better-2014 ===================== Wall Street is not Main Street, and a stock bubble is not economic improvement but rather financial "speed" or "crank." In other words, "trickle down" economics is nothing but a hoax. ====================== That's what the historical record shows over the last 30 years, although I don't know if I would call it a hoax or a popular delusion, very much like the witch mania of New England, it sounds very plausible, and most people want to believe. Overt implementation can be traced back to about 1982/3 with Reagan/Stockman http://en.wikipedia.org/wiki/David_Stockman and this is about the time median inflation adjusted per capita income ceased to increase, and labor's share of GDP began to fall. http://www.businessinsider.com/what-...r-share-2013-9 http://en.wikipedia.org/wiki/Trickle-down_economics snip The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory." He wrote, "Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy-what an older and less elegant generation called the horse-and-sparrow theory: 'If you feed the horse enough oats, some will pass through to the road for the sparrows.'" Galbraith claimed that the horse and sparrow theory was partly to blame for the Panic of 1896.[14] snip "The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover didn't know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow's hands." --Will Rogers in the St. Petersburg Times - Nov 26, 1932 http://en.wikipedia.org/wiki/Laffer_curve snip For a reduction in tax rates to increase revenue, the current tax rate would need to be higher than the revenue maximizing rate. snip The New Palgrave Dictionary of Economics reports that a comparison of academic studies yields a range of ==revenue maximizing rates that centers around 70%.[2]== {emphasis added UG} Economist Paul Pecorino presented a model in 1995 that predicted the peak of the Laffer curve occurred at tax rates around 65%.[12] A 1996 study by Y. Hsing of the United States economy between 1959 and 1991 placed the revenue-maximizing average federal tax rate between 32.67% and 35.21%.[13] A 1981 paper published in the Journal of Political Economy presented a model integrating empirical data that indicated that the point of maximum tax revenue in Sweden in the 1970s would have been 70%.[14] A paper by Trabandt and Uhlig of the NBER from 2009 presented a model that predicted that the US and most European economies were on the left of the Laffer curve (in other words, that raising taxes would raise further revenue).[11] Government immediately puts every single penny back into the economy. The rich do not. But this is just the opinion of a few of the world's top economists -- what do they know? There is no such thing as a free lunch, and if something seems to good to be true -- it is. No matter how much some would like it to be otherwise. |
#6
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Economy grows 4.1 - DOW busts 16000! Thank you POTUS.
Unless you are a 1%er .
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#7
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Economy grows 4.1 - DOW busts 16000! Thank you POTUS.
Only if you are below the 1%ers .
... |
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