So that's why we have jobless recovery

Houston Chronicle ^ | 3/15/04 | David Broder

[Gunslingr3]

FDR never taxed wealth.

I take it you never heard of FDR's 'excess profits' tax.

[raloxk]

"There is no investment in new plants (at least, not in this country)."

that isnt true. Capital spending is surging. Stop the doom and gloom.

[aruanan]

That is the basic reason, he suggests, for this jobless recovery -- why month after month the economic growth figures spell boom, and month after month unemployment remains stubbornly high and more thousands become so discouraged they give up the search for work.

Record high jobless benefits combined with record long jobless benefits eligibility combined with self-employment or barter or cash-transacted jobs that provide non-reported income equals much of the so-called jobless recovery.

[Mr. Bird]

and month after month unemployment remains stubbornly high

Broder is senile, anti-Bush, or both. There is not one objective measure of unemployment out there that would cause anyone to honestly state it is "stubbornly high". Not one. Indeed, objective measures indicate that unemployment is, at its worst, merely low rather than extraordinarily so.

[jwalsh07]

A socialist kissing another socialists ass.

So what else is new?

[LibertyAndJusticeForAll]

I found something here of interest, despite the author and despite that Barney Frank is being quoted.

If corporations continue to offshore/outsource and the "jobless recovery" continues until every desk job and manufacturing plant is offshored, then Frank may be correct, that government intervention is very likely at some point.

Is that what corporations want?

[raloxk]

"I take it you never heard of FDR's 'excess profits' tax."

you just said it, "excess profits" not wealth. do you understand what a tax on wealth is?

[PBRSTREETGANG]

"Our problem today," he said, "is too little government."

Just Barney talkin' out his a$$.

[Pietro]

What a change in demonicratic thinking; more government, higher taxes, command economy. Boy that's bold thinking.

simply amazing.

[dennisw]

So damn stupid. The public sector is doing much better and paying more with more benefits than the private sector. Not in million years would I truest the fat ass, beaurocrat drones in DC with stopping off shoring and preserving jobs.

[AppyPappy]

Jobless recovery = a recovery when a Republican is in office

[American_Centurion]

Frank urges that we "take some of the wealth that is being created by this wonderful thing, this increased productivity, this new technology and the ways of using it, and all this innovation, and let us use it for our own undisputed public purposes. Let us give cities and states more money so they can have more people policing, fighting fires, cleaning up the environment, repairing facilities that need to be repaired, enhancing train transportation, building highways, helping construct affordable housing in places where that is a crisis, helping pay for higher education for students."

In other words, let's stifle the increasingly more productive and profitable to ensure that the only jobs available in the future are for "public purposes",i.e. communism.

[BenLurkin]

Frank is a person of astonishingly poor judgment and abysmal character. Why would anyone go to him for advice on anything?

[Reagan Man]

"Our problem today," [Frank] said, "is too little government."

Spoken like a true liberal socialist.

[The Great RJ]

Obviously Rep. Frank wants the US to emulate the economic success of the socialist economies of France, Germany and Sweden. Last I looked the natural rate of unemployment in these countries is about double ours. Even higher if one considers those living on government dole jobs as not being truly employed. The GDP in Sweden has grown in 30 years at about the rate we experienced in the last quarter--no wealth being created there and what wealth there is is being siphoned off from the economy by high taxes--hence no economic growth.

Yes, Barney we need a lot more government and socialism to catch up to Europe.

[Gunslingr3]

you just said it, "excess profits" not wealth. do you understand what a tax on wealth is?

Let's hear your spin.

[Republic If You Can Keep It]

Is that what corporations want?

Remember this: Corporations can always move their HQ offshore too.......like to Barbados or Jamaica.

Press them too hard & they'll become non-US corporations.