So that's why we have jobless recovery

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

[raloxk]

Profits and wealth arent the same thing, that is my "spin"

[LibertyAndJusticeForAll]

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

I wish they would. Americans built a wonderful environment for companies to grow and flourish.

I would love to see how far they grow w/o our military, w/o our laws, w/o our police, w/o our pool of talented labor, w/o our educational system, w/o our subsidizing them to offshore and outsource.

I would love to see new corporations take their place; corporations that hire American citizens and understand that patriotism is a part of being an American corporation.

[NutCrackerBoy]

One thing Broder got right: Barney Frank is smart and an excellent debater. But he is dangerously wrong.

What we are seeing is a shift where Republicans are growing increasingly dishonest about their true beliefs ("compassionate" conservatism) and Democrats are growing increasingly honest - all-out socialism.

[Gunslingr3]

Profits and wealth arent the same thing, that is my "spin"

Cut to the chase, what are you calling wealth, and how do profits not constitute it.

[Morgan in Denver]

Admittedly, I just finished rereading Ayn Rand's book on capitalism. One thing she writes is that if one were to take the smartest, brightest, top 1000 bureaucrats in the country or the smartest, brightest top 1000 capitalists in the country, and dropped them into a world of poverty, ignorance and and unskilled labor, which group would create the most wealth, be successful and have a higher standard of living? Gee.... Good question.

[<1/1,000,000th%]

Is this article satire?

[raloxk]

man you really are ignorant and frustrating!!!

wealth is accumulated profits, but they are not in themselves income. Income is taxed, wealth is not. How much more clear can I be?????????????

Here, I'll make this real simple for you. You have $100 in the bank. It earns no interest, you pay no income tax. A wealth tax would tax that $100 regardless of how much income it produced.

[savedbygrace]

Frank is wrong on the facts, wrong in his assessment, then wrong in the solution.

First, there has not been a net job loss. Second, the cause of the precipitous upswing in outsourcing is government intervention in law and regulation. Third, the solution really is less government, not more. Axe those regulations that cause corporations to go offshore for jobs and factories.

[Gunslingr3]

Here, I'll make this real simple for you. You have $100 in the bank. It earns no interest, you pay no income tax. A wealth tax would tax that $100 regardless of how much income it produced.

That's easy to tax. You just forbid the private holding of gold (as FDR did). Then you tell everyone that they have to trade paper as money (as the Federal Reserve Act does). Then the government prints paper money. It doesn't have to take any of your $100, it can just print $50 and your $100 is worth less than before. No confusing tax forms, or tax evasion to worry about.

Sorry friend, they hit you every way they can. FDR's deficit spending surpassed all the presidents in history before him combined.

[JeanLM]

We don't have a jobless recovery. It's increase is just lower than was expected. Outsourcing is not the reason for what people feel is a low rate of new job creation, in my opinion. US employers just don't need as many workers as before. Computer driven productivity is finally here. Capital investment is way up because of the recent tax changes and industrial production keeps going up too, which means productivity is excellent. High productivity means a higher standard of living for everyone.

I recently added 50 jobs all at entry level in my company. Three of our competitors went out of business last year. I Offered, in some cases personally, all those who lost work a job. None even showed up for an interview.

This is not a jobless recovery from my perspective. Those who aren't working have other reasons than the economy.

Congress needs to stand out of the way.

[JeanLM]

We don't have a jobless recovery. It's increase is just lower than was expected. Outsourcing is not the reason for what people feel is a low rate of new job creation, in my opinion. US employers just don't need as many workers as before. Computer driven productivity is finally here. Capital investment is way up because of the recent tax changes and industrial production keeps going up too, which means productivity is excellent. High productivity means a higher standard of living for everyone.

I recently added 50 jobs all at entry level in my company. Three of our competitors went out of business last year. I Offered, in some cases personally, all those who lost work a job. None even showed up for an interview.

This is not a jobless recovery from my perspective. Those who aren't working have other reasons than the economy.

Congress needs to stand out of the way.

[raloxk]

a gold bug huh?

[iopscusa]

Frank & Broder 2 of the dumbest weinies in the joint!
Never believe a word they say or write. They couldn't make an honest buck on a bet!

[jpsb]

Ain't globalism and "free trade" wonderful. This is where yall marxists free traders are taking us.

[Gunslingr3]

a gold bug huh?

No, just realize that FDR didn't make the holding of gold illegal for giggles, and that inflation is the government's safest revenue stream. As consequence of it's function it taxes wealth by devaluing all existing savings.

[raloxk]

since 1981 income taxes have been indexed for inflation.

[Gunslingr3]

since 1981 income taxes have been indexed for inflation.

Do you consider inflation an increaes of the money supply, or an increase in the dollar price of whatever basket of goods the government decides to count this year?

[null and void]

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

Riiiiiiiight....

[upcountryhorseman]

My point exactly: demand is down and pricing is near break-
even. Instead of building new facilities, companies are
buying other companies or launching IPO's.