The Economy In Under 3 Minutes

[BFT3K]

https://youtube.com/watch?v=6ebntch99QA

[dyna mo]

i like robert reich, he's a professor at my alma mater.

[u-Bob]

a couple of half-truths, a couple of things that are pure commonsense as bait, a couple of economic fallacies,.... mixed together into a video that could be used to justify just about anything.

[Barry-xlovecam]

Interesting he says it all started in 1980 ...

[Sednub997]

Ahh The Economy sucks right now.My stock are way dowm

[seeandsee]

truth is somewhere out there
there must be reason why some people live good, some poor, its fucked up totaly

[GAMEFINEST]

Why they dont tax the rich heavily
is beyond me

[u-Bob]

Originally Posted by GAMEFINEST

Why they dont tax the rich heavily
is beyond me

Redistribution of wealth doesn't make anyone any wealthier.

[iamtam]

i don't need 3 minutes. i need 6 letters. fucked.

[Joshua G]

Originally Posted by GAMEFINEST

Why they dont tax the rich heavily
is beyond me

easy. Lobbyist money is much more powerful than votes.

[DaddyHalbucks]

It's classic class warfare from a leftist --and from MoveOn.org, a leftist organization.

The real thing that has killed our economy over the last 50 years is the gargantuan number of government social programs which have turned producers into parasites and the world's best economy into an economic basket case.

[12clicks]

Originally Posted by GAMEFINEST

Why they dont tax the rich heavily
is beyond me

Because taking hard earned money from the intelligent and able and spreading it around to the dumb and unable doesn't strengthen a society, it weakens it.

[Vjo]

Excellent summation of why the little (and middle) guy is hurting and thus, why the entire economy is hurting.

A catch 22. More money has been removed from the economy by the super rich. Thus, there is no money for the rest to borrow, grow ect and the economy will remain stagnant or sinking.

The super rich (top 1%) are now taking 20% of the total income vs 10% in 1980. The super rich (1%) now control 40% of total wealth.

Was unaware that 35% is the top tax rate now versus 1980 it was 70%.

[DaddyHalbucks]

Originally Posted by Vjo

Excellent summation of why the little (and middle) guy is hurting and thus, why the entire ecomomy is hurting. A catch 22. More money has been removed from the economy by the super rich.

The super rich (top 1%) are now taking 20% of the total income vs 10% in 1980. The super rich (1%) now control 40% of total wealth.

Was unaware that 35% is the top tax rate now versus 1980 it was 70%.

Yea, it's all the fault of the people who actually add value. It's all the fault of the people who own businesses and employ people.

Now back to our regular programming..

Gimme free health care
Gimme job security with seniority
Gimme stuff the private sector doesn't get
Guarantee my benefits
Guarantee my wages
Gimme cost of living increases
Gimme platinum pensions
Gimme welfare, social security, SSI, medicare, medicaid
Gimme unemployment extensions

GIMME
GIMME
GIMME!!!!!

[Vjo]

Originally Posted by DaddyHalbucks

Yea, it's all the fault of the people who actually add value. It's all the fault of the people who own businesses and employee people.

Now back to our regular programming..

Gimme free health care
Gimme job security with seniority
Gimme stuff the private sector doesn't get
Guarantee my benefits
Guarantee my wages
Gimme cost of living increases
Gimme platinum pensions
Gimme welfare, social security, SSI, medicare, medicaid
Gimme unemployment extensions

GIMME
GIMME
GIMME!!!!!

Remember Reich was talking top 1%. I'm not going to research it but I doubt the top 1% employ the majority.

Maybe someday some poor guy (there are more and more) will stick a gun in your ribs and say Gimme. Do you want that kind of society.

Maybe your neighbor will not be able to afford to paint his house.

And a million other problems that are just beginning.

I am smart enough to see that a seperatist society of ultra rich and more and more super poor is not good for anyone.

[DaddyHalbucks]

Originally Posted by Vjo

Remember Reich was talking top 1%. I'm not going to research it but I doubt the top 1% employ the majority.

Maybe someday some poor guy (there are more and more) will stick a gun in your ribs and say Gimme. Do you want that kind of society.

Maybe your neighbor will not be able to afford to paint his house.

And a million other problems that are just beginning.

I am smart enough to see that a seperatist society of ultra rich and more and more super poor is not good for anyone.

Stop blaming somebody else. Stop coveting what is not yours.

[tony286]

The funny thing is without gov funding there would be no internet.

[Vjo]

Originally Posted by DaddyHalbucks

Stop blaming somebody else. Stop coveting what is not yours.

They got it through (what should be illegal) lobbying. I blame the corrupt system who bent to their wishes and made them the money.

Dont hate the player, hate the game as it were.

I dont really give a fuck about dem/repub and all that bullshit.

We need a revolution. A complete change of our political system.

[Vjo]

Being super rich while your country goes to hell should be something that is despised.

Fuck the super rich. They got enough fucking money. Greedy bastards.

The hatred for the super rich is just beginning in the US.

[dyna mo]

Originally Posted by DaddyHalbucks

Yea, it's all the fault of the people who actually add value. It's all the fault of the people who own businesses and employ people.

tons of middle class business owners with employees. flower shops, tailers, dry cleaners, good fine folks with a 2 car garage. small business adds immense value to the economy and small business owners are middle class folks.

[qwe]

Originally Posted by 12clicks

Because taking hard earned money from the intelligent and able and spreading it around to the dumb and unable doesn't strengthen a society, it weakens it.

+1... I see it too often, people always want something for nothing... ya let's tax people who add value to the economy and give that money to people making babies and leeching off welfare

[Vjo]

Our system and those who are part of it.. congress, house, president are a JOKE.

A fucking embarrassment.

Vot dem.. vote repub.. vote NEITHER. Vote for whichever third party comes closest to REVOLUTION.

There is NO diff between dem/repub. NONE.

Otherwise you are just one of their little stooges who blindly go to the polls and vote for who they gave you to vote for. And it all will continue to get worse.

Americans couldn't see that a guy named Osama (supposedly) caused 911 and then we elect a guy name Obama? WTF. I knew we were FUCKED when that happened.

The ONLY way he got in was BIG MONEY and media control.

Osama
Obama
Osama
Obama
Osama
Obama

And Bush was fucking as bad or worse.

[dyna mo]

How important are small businesses to the U.S. economy? (average S corp generated about $100,000 income on about $1.5 million in sales in the last year, sole proprietorships had revenues of $58,256 and net income of $11,696.)

Small firms:

Represent 99.7 percent of all employer firms.

Employ just over half of all private sector employees.

Pay 44 percent of total U.S. private payroll.

Have generated 64 percent of net new jobs over the past 15 years.

Create more than half of the nonfarm private gross domestic product (GDP).

Hire 40 percent of high tech workers (such as scientists, engineers, and computer programmers).

Are 52 percent home-based and 2 percent franchises.

Made up 97.3 percent of all identified exporters and produced 30.2 percent of the known export value in FY 2007.

Produce 13 times more patents per employee than large patenting firms; these patents are twice as likely as large firm patents to be among the one percent most cited.

Sources (see the Office of Advocacy's Research and Statistics page):

U.S. Dept. of Commerce, Bureau of the Census and International Trade Admin.
Advocacy-funded research by Kathryn Kobe, 2007
CHI Research, 2003
U.S. Dept. of Labor, Bureau of Labor Statistics.

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[12clicks]

Originally Posted by tony286

The funny thing is without gov funding there would be no internet.

Jut as in life, there are the Internet rich and Internet rabble

[$5 submissions]

Originally Posted by dyna mo

i like robert reich, he's a professor at my alma mater.

Right on, Scott. Go Bears!!!!

[Vjo]

Originally Posted by dyna mo

How important are small businesses to the U.S. economy? (average S corp generated about $100,000 income on about $1.5 million in sales in the last year, sole proprietorships had revenues of $58,256 and net income of $11,696.)

Small firms:

Represent 99.7 percent of all employer firms.

Employ just over half of all private sector employees.

Pay 44 percent of total U.S. private payroll.

Have generated 64 percent of net new jobs over the past 15 years.

Create more than half of the nonfarm private gross domestic product (GDP).

Hire 40 percent of high tech workers (such as scientists, engineers, and computer programmers).

Are 52 percent home-based and 2 percent franchises.

Made up 97.3 percent of all identified exporters and produced 30.2 percent of the known export value in FY 2007.

Produce 13 times more patents per employee than large patenting firms; these patents are twice as likely as large firm patents to be among the one percent most cited.

Sources (see the Office of Advocacy's Research and Statistics page):

U.S. Dept. of Commerce, Bureau of the Census and International Trade Admin.
Advocacy-funded research by Kathryn Kobe, 2007
CHI Research, 2003
U.S. Dept. of Labor, Bureau of Labor Statistics.

Thank you. That is what I suspected.

Robert Reich is correct, The super rich (noone comes remotely close on this board) are bleeding the middle (and lower classes especially) DRY.

And if you think I am gonna sit around and get bled any further.. well it is time to speak out.

I have seldom talked politically on this board or anywhere.

But maybe it is time. I can feel the average American behind me.

If I was a younger man (like 30 years) maybe I would try to make a diff and actually run. I am good at relating to people. And I believe in what I say, uncorrupted by ANY money.

Now all I am is another blowhard on another chatboard somewhere.

But I will be voting third party as always.

[12clicks]

Originally Posted by Vjo

Being super rich while your country goes to hell should be something that is despised.

Fuck the super rich. They got enough fucking money. Greedy bastards.

The hatred for the super rich is just beginning in the US.

This is the problem with paying the rabble to breed instead of letting them die off.

Despise success?
Really?

[12clicks]

Originally Posted by Vjo

Thank you. That is what I suspected.

Robert Reich is correct, The super rich (noone comes remotely close on this board) are bleeding the middle (and lower classes especially) DRY.

And if you think I am gonna sit around and get bled any further.. well it is time to speak out.

I have seldom talked politically on this board or anywhere.

But maybe it is time. I can feel the average American behind me.

If I was a younger man (like 30 years) maybe I would try to make a diff and actually run. I am good at relating to people. And I believe in what I say, uncorrupted by ANY money.

Now all I am is another blowhard on another chatboard somewhere.

But I will be voting third party as always.

Agh, now it makes sense.
Looking back on a failed life and trying to lay blame anywhere except where it belongs.

[IllTestYourGirls]

Well the middle class is uber rich compared to 3rd world countries, should our middle class be stripped of their wealth and have it given to people living in huts? I have the best idea evah. We need to give everyone a million dollars! Then we will all be millionaires!

Educate yourself:

[Vjo]

Mind you I am not (and have never taking) welfare. I believe to get ahead you must pay your dues.

But all I ask, and never received, as an educated American is an even playing field.

I do ok. I worked hard and do ok. It isnt about me. It isnt about you. It is about our country as a whole.

My generation (and those that followed) and anyone born after about 1963 (just realized that, coincidence?) are playing in a world economy while our government makes deals to give the wealth of our country to MORE and MORE big corporations.

Mom and pop were fucked 30 years ago and today they are just about dead.

Fuck the system.

Triple fuck ALL big corporations.

If you are sucking at the tit of a big corp then fuck you too.

[Vjo]

Originally Posted by 12clicks

Agh, now it makes sense.
Looking back on a failed life and trying to lay blame anywhere except where it belongs.

Finally throw the first punch?

Ive been waiting for you, you melon headed, lame ass program owning, repub wanna be, shitstain.

Post my real name asshole. And I will get you banned.

YOU are the BIGGEST shitstain on this board.

Just wanted to let you know melon head.

[Vjo]

Why do you still promote 12 clicks cash?

What a fucken JOKE that prog is.

[Vjo]

I amy or may not be a failed wm. I think not.

But YOU are def a failed prog owner.

12 clicks cash is the acronym for SUPER FUCKING LAME in progs.

[IllTestYourGirls]

The government gave all the rich people the money! Quick give the government more power! what a fucking joke.

[Vjo]

Addd me to your enemies list melon head. Go lurk around more conventions like some kind of deushbag loser.

"Hi, I promote 12 clicks cash"

[qwe]

there's no such thing as even playing field, you create your own playing field... that's the difference, some people make it happen and some people ask for even field... society as a whole would not be able to function if everyone made same amount of money and was well educated....

Originally Posted by Vjo

Mind you I am not (and have never taking) welfare. I believe to get ahead you must pay your dues.

But all I ask, and never received, as an educated American is an even playing field.

I do ok. I worked hard and do ok. It isnt about me. It isnt about you. It is about our country as a whole.

My generation (and those that followed) and anyone born after about 1963 (just realized that, coincidence?) are playing in a world economy while our government makes deals to give the wealth of our country to MORE and MORE big corporations.

Mom and pop were fucked 30 years ago and today they are just about dead.

Fuck the system.

Triple fuck ALL big corporations.

If you are sucking at the tit of a big corp then fuck you too.

[12clicks]

Originally Posted by Vjo

Finally throw the first punch?

Ive been waiting for you, you melon headed, lame ass program owning, repub wanna be, shitstain.

Post my real name asshole. And I will get you banned.

YOU are the BIGGEST shitstain on this board.

Just wanted to let you know melon head.

Post your real name?

Shit, loser, I do not, nor do I have any interest in who you are.

Truth hurts though, eh loser?

"Boo hoo, evil rich people made me fail, boo hoo, evil corporations are holding me down"

Dude, the only thing holding you down is your lack of intelligence and ability, no matter what your mammy told you.

[TheDoc]

Great video... I think he should add a dot though.

Dot.. a huge amount of people think they are rich, because they've worked hard to gain a lot of dollars. When the reality is they're middle class compared to the actual rich, they have almost no 'real' value compared to the actual rich, and have no actual clue what the real benefits are because they aren't rich, at all, and never have been and all they're doing is repeating the agenda of the super rich, which only benefits the super rich.

Nobody posting on this forum, nobody in our Industry, is at this level, not even our ENTIRE Industry. Do any of you have political influences, with your or your companies money? Exactly....

You pay state taxes or sales taxes, they get tax money to move to that state and pay nothing on sales because that office is a different location. The State buys stocks from them by the tens of millions with your tax dollars, your stocks are sitting on a safe in a binder. The State hands them contracts and tax dollars to complete the projects. That CEO reinvests through campaign contributions.

And you think you're advocating for YOU to a make more money? Hahahaha...

[DaddyHalbucks]

Originally Posted by tony286

The funny thing is without gov funding there would be no internet.

Setting communication standards and commercializing government/ tax payer funded research (DARPA) is good policy.

Fighting the occasional war is also a core government function.

Blowing trillions of dollars over half a century on wasteful and fraud riddled government social programs is neither good policy nor a core government function.

[Vjo]

Originally Posted by qwe

there's no such thing as even playing field, you create your own playing field... that's the difference, some people make it happen and some people ask for even field... society as a whole would not be able to function if everyone made same amount of money and was well educated....

This is true. However this is not waht I am saying. I am against the system as well as those who benefitted from it at the expense of the other 99%.

I never said anything about welfare. I said even the playing field between the rich and the poor. Which means one thing.

No more lobbying and lobbyists. It is BS. Lets start there.

Maybe your kids will have a shot then. I am too old too see any real change.

Besides that, it is my god given right as an American to hate big corps (including big banks) if I so choose.

I forgot...

Fuck Big Banks (cubed)

They are the real problem.

[TheDoc]

Originally Posted by DaddyHalbucks

Blowing trillions of dollars over half a century on wasteful and fraud riddled government social programs is neither good policy nor a core government function.

It's a social function, right?

Well, then... it sounds like The People should be doing this then? All of us, no questions asked.. but for some reason, we don't. Wait, no we do... with our tax dollars.

I mean, isn't the role of the gov to make sure the people are safe? How safe are a bunch of ill, broke, hungry people by the tens of millions? Oh the Gov keeps us safe from bad guys you say? Well the bad guy would be .... you wouldn't it?

[Vjo]

Originally Posted by 12clicks

Post your real name?

Shit, loser, I do not, nor do I have any interest in who you are.

Truth hurts though, eh loser?

"Boo hoo, evil rich people made me fail, boo hoo, evil corporations are holding me down"

Dude, the only thing holding you down is your lack of intelligence and ability, no matter what your mammy told you.

Alright if it isnt personal then I may have went overboard. I apologize for calling you names. I thought you knew me.

Anyhow, if you dont know me then what you say is total bs.

If I am here on the last f'n chat board in adult, I am not here for the company. Yes I pay the bills 100% with what I make in adult. Satisfied. It is not my best year but it is better than the last two.

I have always said I am not a baller. And I only ever counterpunch.

I am a gentlemen otherwise and I am sorry for my outburst. Otoh, I have been waiting for this as I avoided other political discussion as me and 12 clicks are opposed on almost everything.

I can rock and roll and have fun discussing things. But lets keeps our personal lives out of it.

So once again I apologize for getting personal when you did not know me.

(spelling and bs is out the window )

[qwe]

Originally Posted by Vjo

This is true. However this is not waht I am saying. I am against the system as well as those who benefitted from it at the expense of the other 99%.

I never said anything about welfare. I said even the playing field between the rich and the poor. Which means one thing.

No more lobbying and lobbyists. It is BS. Lets start there.

Maybe your kids will have a shot then. I am too old too see any real change.

Besides that, it is my god given right as an American to hate big corps (including big banks) if I so choose.

I forgot...

Fuck Big Banks (cubed)

They are the real problem.

yes banks went out of control and im not defending them, but WHO started buying up houses which they could not afford? at least 50% of the blame goes to the same people who are screaming "fuck the banks", banks did not force anyone at a gun point to buy houses, it's the people's greed to buy something they simply could not handle...

[dyna mo]

from reich's blog

What are anti-tax Republicans to do now?

For one, continue to distort the arguments of those who believe corporations and the rich should pay more taxes.

For example, in the lead op-ed piece in today?s Wall Street Journal, Cato Institute fellow Alan Reynolds claims a higher marginal tax on the super rich will bring in less revenue.

Reynolds uses my tax proposal from last February as his red herring. ?Memo to Robert Reich,? he declares, ?The income tax brought in less revenue when the highest rate was 70 percent to 91 percent [between 1950 and 1980] than it did when the highest rate was 28 percent.?

Reynolds bends the facts to make his case, picking and choosing among years.

In truth, the most important variable explaining the rise and fall of tax revenues as percent of GDP has been the business cycle, not the effective tax rate. In periods when the economy is growing briskly, tax revenues have risen as a percent of GDP, regardless of effective rates; in downturns, revenues have fallen.

Reynolds also distorts my proposal, implying that the bracket on which I call for a 70 percent tax is the same as in today?s tax code. Wrong. My proposed 70 percent rate would apply only to incomes over $15 million.

$15 million, Alan!

Under my proposal, incomes between $5 million and $15 million would be subjected to a 60 percent rate, and incomes between $500,000 and $5 million to a 50 percent rate.

Importantly, my proposal calls for a substantial rate reduction for families with incomes under $100,000. (Conveniently, Reynolds fails to mention this.)

Reynolds entirely ignores my central argument, which is that rather than depress economic growth, higher taxes on the rich correlate with higher growth. During almost three decades spanning 1951 to 1980, when the top rate was between 70 percent and 91 percent, average annual growth in the American economy was 3.7 percent.

Between 1983 and the start of the Great Recession, when the top rate dropped to between 35 percent and 39 percent, average growth was 3 percent.

How to explain this? Easy.

Since the early 1980s, a larger and larger share of total income has gone to the top (the richest 1 percent of Americans got 10 percent of total income in 1980, and get over 20 percent now). That?s left the vast middle class with insufficient purchasing power to boost the economy ? without going deep into debt.

Lower tax rates on the rich ? including lower capital gains rates ? have exacerbated this regressive trend.

Finally, having misread the facts, distorted my proposal, and ignored my argument, Reynolds fails to rebut my conclusion that raising middle class purchasing power by lowering their tax rates while raising the rates at the top will help spur growth, to the benefit of all. Top earners will do better with a smaller share of a more rapidly- growing economy a larger share of a slower-growing one.

If I were a cynic, I?d say the Republican right is showing signs of desperation.

[BFT3K]

[IllTestYourGirls]

Originally Posted by TheDoc

Great video... I think he should add a dot though.

Dot.. a huge amount of people think they are rich, because they've worked hard to gain a lot of dollars. When the reality is they're middle class compared to the actual rich, they have almost no 'real' value compared to the actual rich, and have no actual clue what the real benefits are because they aren't rich, at all, and never have been and all they're doing is repeating the agenda of the super rich, which only benefits the super rich.

Nobody posting on this forum, nobody in our Industry, is at this level, not even our ENTIRE Industry. Do any of you have political influences, with your or your companies money? Exactly....

You pay state taxes or sales taxes, they get tax money to move to that state and pay nothing on sales because that office is a different location. The State buys stocks from them by the tens of millions with your tax dollars, your stocks are sitting on a safe in a binder. The State hands them contracts and tax dollars to complete the projects. That CEO reinvests through campaign contributions.

And you think you're advocating for YOU to a make more money? Hahahaha...

So your solution for stopping the government from taking money from the middle class and giving it to the super rich is..... MORE GOVERNMENT! too funny

[Vjo]

My money in adult is going UP. Every month. I think that speaks for itself.

So dont try to pigeon hole me as I see you do everyone in these political threads.

Because I have compassion for the poor does not make me a welfare taker or far left.

Altho I am faaaaaar left. hehe

You are middle class I am guessing. So why are you pushing the rederick of the far right and super rich? You will never be them and they would never be you (or me)

It is us against them at this point.

[TheDoc]

Originally Posted by IllTestYourGirls

So your solution for stopping the government from taking money from the middle class and giving it to the super rich is..... MORE GOVERNMENT! too funny

Are responses like this part of a brain eating virus that runs through the right wing populous or something?

Taking away social programs, hurts you... and makes the super rich more money, while the cost adjustment is not moved, and you still pay the same amount.

Wake up.. you're brainwashed.

[DBS.US]

Kill the Super Rich