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Henry Blodgett: Here's what's wrong with the economy... (And How To Fix It)
businessinsider.com ^ | 10-1-2011 | Henry Blodgett

Posted on 10/01/2011 5:55:26 PM PDT by blam

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To: harpu

Please tell me this idiocy did not sound reasonable to you.


51 posted on 10/01/2011 10:20:04 PM PDT by Kellis91789 (There's a reason the mascot of the Democratic Party is a jackass.)
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To: Smokin' Joe

I’ve been saying that for decades. As long as there is a welfare system, every city street should be as well-kept as Disneyworld.


52 posted on 10/01/2011 10:29:51 PM PDT by Kellis91789 (There's a reason the mascot of the Democratic Party is a jackass.)
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To: dennisw

I like your list.

As far as taxation goes, the thing to remember is that nobody likes to pay taxes and therefor tax rates should be low enough in any one “decision point” to avoid tempting people into evasion. This is the biggest flaw in the Fair Tax: added to state sales taxes, it would mean adding almost 40% to the “price” of an item and a huge temptation to evade or avoid it. Even Herman Cain’s 9% sales tax rate means a 17% combined sales tax in most places.

I’d go with a 9% flat income tax with no corporate tax, a 4% sales tax on all goods and services, and a 9% employer-paid tax on all employee compensation and imports (since they embody labor costs). This would be three small taxes over the widest possible bases, none temptingly large enough to engender widespread evasion. I would encourage states to reduce their own sales tax rates by broadening their bases to include all retail goods and services, so the combined Fed and State sales tax would not tempt evasion.

These three Fed taxes would raise $2.6T using the 2010 numbers. If government spending were reduced to inflation-adjusted FY2000 levels, $2.6T revenue would leave us a surplus, even though it represents only 17% of GDP.


53 posted on 10/01/2011 10:47:26 PM PDT by Kellis91789 (There's a reason the mascot of the Democratic Party is a jackass.)
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To: rbg81
The same. He was prosecuted for securities fraud by Client No. 9, banned from the securities industry, and forced to pay $4 mil in the settlement.

Some of his commentary occasionally makes sense, but he's out to lunch on 'infrastructure' spending for its own sake. If it were tied to real energy development, as in giant oil and gas fields in the US, sure, it would be a good thing.

54 posted on 10/02/2011 12:59:53 AM PDT by rfp1234 (Anybody but Baracchio in 2012)
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To: dennisw

Two much common sense there for a lot of people to understand.


55 posted on 10/02/2011 2:15:56 AM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow democrats.)
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To: Kellis91789
Years ago, I lived in Spain when Franco was alive, a street sweeper was a truck with a water tank and a boom pipe on back, with 30 people pushing brooms. He had full employment. You could walk the streets of any city and not get mugged.
56 posted on 10/02/2011 2:20:36 AM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow democrats.)
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To: org.whodat

thanks much coming from you..... I know you are a tough grader :)


57 posted on 10/02/2011 4:18:38 AM PDT by dennisw (nzt - works better if you're already smart)
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To: org.whodat

thanks much coming from you..... I know you are a tough grader :)


58 posted on 10/02/2011 4:18:46 AM PDT by dennisw (nzt - works better if you're already smart)
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To: woofie

“Natural gas prices are a third of what they were a few years ago”

Spare me, you know exactly what I am talking about.


59 posted on 10/02/2011 7:25:12 AM PDT by headstamp 2 (Time to move forward not to the center.)
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To: Kellis91789
"Please tell me this idiocy did not sound reasonable to you."

You're kidding right!?! ONLY a Walnut from Kalifornia would make the comment. Hmmm, maybe it is right that the country would be better off when Kalifornia, and it's...'residents', are returned to Mexico.

60 posted on 10/02/2011 12:18:28 PM PDT by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
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To: dennisw
"7. Tighten up on legal immigration and make it skills and education based"

I disagree with that one, and here's why. A white, English-speaking, pro-American woman from South Africa and married to a US citizen tried to get her US citizenship for 10 years. That couple is understandably angry for life. There's no sense in even inhibiting such people of our culture from coming and staying in the USA or requiring large bribes in the form of fees from them. They're the American-culture wives, husbands and children of Americans, and they don't cost us what others do (e.g., one cost being the current decline of our nation).

An anti-American woman (loan officer) of equatorial culture, great "education" and "skills" bragged about getting permanent residence and becoming a citizen within a year, along with her whole highly skilled, foreign-language-speaking, extended family (all employed).

One was already very much American culture, and the other wasn't. We don't need tens of millions of non-assimilating people here for nothing more than money or some false concept of "class." That attitude is dragging our country down to immoral, third-world standards.

America was settled by northern European Protestants for a good reason, and their cause was the foundation for our particular Constitution. No other group at that time would have written or agreed upon such a Constitution, and we see many contemporary, public arguments in favor of violating it. Without the morality of our founding people,... Well, we see the results of that loss in process now, and we're throwing it away for the sake of material lusts.

Besides, our system of formal "education" is a major contributor to the collapse. So are the citizen-of-the-world, socialist employers, who now define skills--too many deleterious social skills. There are impoverished people putting their skills to work with what little they have. Most who are now highly paid and esteemed are devoid of useful skills (technical skills) and do little more than cause trouble to their neighbors (e.g., pensioned HOA/socialist shrews and their effeminate "partners").

But then in regards to decline, maybe we do need that, followed by better rebuilding. Maybe we should proceed with nonpolitical politics.


61 posted on 10/02/2011 4:13:23 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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To: dennisw

BTW, I do agree with everything else in your comment. Well said.


62 posted on 10/02/2011 4:24:31 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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To: harpu

Still can’t tell if you agree with the letter or not. You are sounding more and more like an idiot liberal troll, though.


63 posted on 10/02/2011 11:42:53 PM PDT by Kellis91789 (There's a reason the mascot of the Democratic Party is a jackass.)
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To: familyop

The easy remedy here is to return to European only immigration which was our policy prior to the 1965 Immigration Act. Many East Europeans of good character and good education would love to move here. So would British and others

If you include illegal immigration then immigration since 1965 has been 90% non-European. This makes 46 years for those policies so going European only immigration for a few decades is reasonable


64 posted on 10/03/2011 2:50:46 AM PDT by dennisw (nzt - works better if you're already smart)
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To: dennisw

Agreed on immigration. We can do well with immigrants who simply want to be here and share allegiance with us. Otherwise, there’s an obvious effort to gradually move all people into one world culture with all inventions and designs expected to come from that single culture. No future “diversity” in that plan for a world with obviously one government. It’s probably good that globalism is about to collapse.

A note on China’s “ghost cities” here. Did you know that at least many, if not all of the units for sale in those cities require a minimum of 50% down? The question, “What are they waiting for,” is possibly answered. They are the Han culture. They might plan to have an orderly “revolution,” maybe even with the next change of guard or the one after (depending on other world events).


65 posted on 10/03/2011 4:11:16 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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To: familyop

At 50% down no one can afford to move into the Chinese ghost cities. Chinese are superstitious so they probably think the ghost cities have bad ju-ju.


66 posted on 10/03/2011 5:15:45 PM PDT by dennisw (nzt - works better if you're already smart)
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To: dennisw
"At 50% down no one can afford to move into the Chinese ghost cities."

Agreed. China hasn't changed in every way over the hundreds of years. She'll move 'em in, when she is ready. And the nouveau riche might be SOL then, and if not compliant, enemies of the people.


67 posted on 10/03/2011 5:53:20 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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