Supply side/Trickle down: Where's the money?

[Dragonlady]

Do you have any character at all??????? IS liberalism pupre force and violence, and no regard for facts and logic?? Are you proud of yourself?? Do you think you represent liberalism well??

Eddie, you are the ones with no facts, and even less common sense. The US has lead the world in manufacturing since before WWII. Now it does not. China is now #1 in the world. You aren't concerned about this but other people are.

First and foremost, China has taken over production of the world's consumer goods, something the US used to do. Now China leads the world in textile manufacturing (clothing), electronics, and consumer goods - areas where the US used to lead. They're catching up on cars as well.

The US still leads in military hardware, simply because the patents can't leave the US for strategic reasons. If you take out the military industrial complex, what does the US have left? What happens to US manufacturing when the military isn't involved in a major offensive?

 

[Toddsterpatriot]

Do you have any character at all??????? IS liberalism pupre force and violence, and no regard for facts and logic?? Are you proud of yourself?? Do you think you represent liberalism well??

Eddie, you are the ones with no facts, and even less common sense. The US has lead the world in manufacturing since before WWII. Now it does not. China is now #1 in the world. You aren't concerned about this but other people are.

First and foremost, China has taken over production of the world's consumer goods, something the US used to do. Now China leads the world in textile manufacturing (clothing), electronics, and consumer goods - areas where the US used to lead. They're catching up on cars as well.

The US still leads in military hardware, simply because the patents can't leave the US for strategic reasons. If you take out the military industrial complex, what does the US have left? What happens to US manufacturing when the military isn't involved in a major offensive?

The US has lead the world in manufacturing since before WWII. Now it does not.

Wait, you claimed we manufactured nothing.

Were you lying?
Or just stupid?

 

[EdwardBaiamonte]

Eddie, you are the ones with no facts, and even less common sense.

All you have left[in USA] is the low wage service sector, with no manufacturing sector there to feed it.

do you have the chararacter to admit your mistake?????

USA is still global leader with 20% of global manufacturing output despite:

1) liberal unions that drove 30 million jobs off shore

2) liberal taxes that make it cheaper to operate off shore

3) and liberal deficits that make it possible for Japan and China to buy our debt rather than our manufactured products.

 

[EdwardBaiamonte]

If you take out the military industrial complex, what does the US have left?

US has 70% of recent medical patents. US is heart of civilization on earth because we have more capitalism than anywhere!

 

[Political Junky]

Super Rich Hide $21 Trillion Offshore, Study Says - Forbes

A new report finds that around the world the extremely wealthy have accumulated at least $21 trillion in secretive offshore accounts. That’s a sum equal to the gross domestic products of the United States and Japan added together. The number may sound unbelievable, but the study was conducted by James Henry, former chief economist at the consultancy McKinsey, an expert on tax havens and offshoring. It was commissioned by Tax Justice Network, a British activist group.

According to an early report on the study in The Guardian, Henry’s research

shows that at least £13tn [$21 trillion] – perhaps up to £20tn [$31 trillion] – has leaked out of scores of countries into secretive jurisdictions such as Switzerland and the Cayman Islands with the help of private banks, which vie to attract the assets of so-called high net-worth individuals. Their wealth is, as Henry puts it, “protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy“. According to Henry’s research, the top 10 private banks, which include UBS and Credit Suisse in Switzerland, as well as the US investment bank Goldman Sachs, managed more than £4tn [$6.2 trillion] in 2010, a sharp rise from £1.5tn five years earlier.

The report’s analysis, based on data from many sources including the Bank of International Settlements and the International Monetary Fund, indicates that enough money has left some developing countries since the 1970s to pay off all their debts to the rest of the world. “The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments,” the report says.Money has especially flowed out of oil producing states. Some $700 billion has left Russia since the 1990s: $305 billion has flowed out of Saudi Arabia since the 1970s, and about the same amount from Nigeria.
<more>

 

[EdwardBaiamonte]

Super Rich Hide $21 Trillion Offshore, Study Says - Forbes

A new report finds that around the world the extremely wealthy have accumulated at least $21 trillion in secretive offshore accounts. That’s a sum equal to the gross domestic products of the United States and Japan added together. The number may sound unbelievable, but the study was conducted by James Henry, former chief economist at the consultancy McKinsey, an expert on tax havens and offshoring. It was commissioned by Tax Justice Network, a British activist group.

According to an early report on the study in The Guardian, Henry’s research

shows that at least £13tn [$21 trillion] – perhaps up to £20tn [$31 trillion] – has leaked out of scores of countries into secretive jurisdictions such as Switzerland and the Cayman Islands with the help of private banks, which vie to attract the assets of so-called high net-worth individuals. Their wealth is, as Henry puts it, “protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy“. According to Henry’s research, the top 10 private banks, which include UBS and Credit Suisse in Switzerland, as well as the US investment bank Goldman Sachs, managed more than £4tn [$6.2 trillion] in 2010, a sharp rise from £1.5tn five years earlier.

The report’s analysis, based on data from many sources including the Bank of International Settlements and the International Monetary Fund, indicates that enough money has left some developing countries since the 1970s to pay off all their debts to the rest of the world. “The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments,” the report says.Money has especially flowed out of oil producing states. Some $700 billion has left Russia since the 1990s: $305 billion has flowed out of Saudi Arabia since the 1970s, and about the same amount from Nigeria.
<more>

Henry calculates that some 92,000 people, a thousandth of a percent of the world’s population, control $9.8 trillion, and that if all the $21 trillion that has been offshored earned 3% a year and were taxed at 30%, it would raise $188 billion in revenues, more than rich countries spend on aid to the developing world every year.

the USA's share of the $188 billion would run our government for a few days so lets not get excited. Most of it is oil money from liberal dictatorships in Middel East I'm sure.

 

[Dragonlady]

the USA's share of the $188 billion would run our government for a few days so lets not get excited. Most of it is oil money from liberal dictatorships in Middel East I'm sure.

"Liberal dictatorships" in the Middle East. What liberal dictatorships would those be, because I'm not aware of any. Only the conservative theocracies.

 

[Political Junky]

the USA's share of the $188 billion would run our government for a few days so lets not get excited. Most of it is oil money from liberal dictatorships in Middel East I'm sure.

"Liberal dictatorships" in the Middle East. What liberal dictatorships would those be, because I'm not aware of any. Only the conservative theocracies.

Yes, I'd love to hear about those Liberal theocratic dictatorships in the Mid East.

 

[EdwardBaiamonte]

the USA's share of the $188 billion would run our government for a few days so lets not get excited. Most of it is oil money from liberal dictatorships in Middel East I'm sure.

"Liberal dictatorships" in the Middle East. What liberal dictatorships would those be, because I'm not aware of any. Only the conservative theocracies.

Yes, I'd love to hear about those Liberal theocratic dictatorships in the Mid East.

Jefferson founded the Republican Party, in 1792, and America to be about freedom from big liberal governments whether the big liberal governments were Christian divine right of kings European monarchies or Middle East liberal big government theocracies.

Over your head?? It is amazing that the liberal will be too slow to learn and so always walks into the same trap over and over again. A liberal lacks to IQ to know how brainwashed he is; so what hope is there. A democracy simply can't function with too many liberals participating!!

 

[rdean]

DISCLAIMER: Yes, I consider myself a liberal. But I also consider myself independent and this post is an honest quest for understanding. Trolls need not apply.

Trickle down theory--the idea that cutting taxes for businesses and upper-middle to rich folks, or the "job makers", will lead to economic growth and wealth "trickling down" to the lower class--seems to make sense. If the people who make business decisions have more money, they will be more likely to expand their business, thereby generating more work and wages in general. It's logical!

Today, there's plenty of signs that the job makers are doing significantly better: Dow is at record highs, business profits are up, etc. Yet wages for the average worker are stagnant. The Bush II tax cuts didn't improve the economy, at least not in the short run, and helped spur record deficits. (Not cause, but help.) The gap between the poor and the rich has widened.

So here's my question: Where is the money?

Again, I mean that sincerely. If supply side is real, money should be trickling down to the workers--but it's not. That said, the money has to be somewhere! Are the job makers hording cash in banks? Overseas investments? What???

Workers are getting the money. But they have to be working.

There are 3.9 million jobs not filled because of a lack of skills. Those jobs will never go to Republicans.

 

[EdwardBaiamonte]

If supply side is real, money should be trickling down to the workers--but it's not.

too stupid by 1000%!!! Obama had two communist parents and voted to the left of Bernie Sanders so, dear, he is obviously obviously obviously not a supply sider!!!!!OMG!!!!!

See why we say slow, super super slow in the case of deanie!!??????????????????

 

[Dragonlady]

too stupid by 1000%!!! Obama had two communist parents and voted to the left of Bernie Sanders so, dear, he is obviously obviously obviously not a supply sider!!!!!OMG!!!!!

See why we say slow, super super slow in the case of deanie!!??????????????????

Liberal does not = communist, Eddie. Your paragraph makes no sense. Even if someone has communist parents, he could be a supply sider.

And since the tax code hasn't been overhauled since Reagan started the US on the road to supply side economics, so we've had 30+ years of uninterrupted trickle down. It should be a downpour by now, but nothing . . . crickets.

 

[Mr Natural]

What we're seeing now is the result of 30+ years of supply side hoakum.

 

[EdwardBaiamonte]

Liberal does not = communist, Eddie.

dear, government is never big enough for a libturd even after 200 years of steady growth!! Why do you think our liberals spied for Stalin and gave him the bomb?????? Stalin was a communist by the way.

Slow???????????

 

[EdwardBaiamonte]

Even if someone has communist parents, he could be a supply sider.

too stupid as usual!! Obama had 2 communist parents and voted to the left of Bernie Sanders!! He is obviously obviously obviously not a capitalist supply sider!!!!!

OMG!!! Too slow!!!

 

[EdwardBaiamonte]

And since the tax code hasn't been overhauled since Reagan started the US on the road to supply side economics, so we've had 30+ years of uninterrupted trickle down. It should be a downpour by now, but nothing . . . crickets.

too perfectly stupid by 1000%!!!! We have Obamacare now, the highest corporate tax in the world, we depend more on the top 1% for government revenue than any country in the world, and we have a president who voted to the left of Bernie Sanders!!!

That's the opposite of Reagan and this is very very obvious to all but the slowest of the slow?? Why are you here if not to make libturds look even worse than they do??

 

[Mr Natural]

And since the tax code hasn't been overhauled since Reagan started the US on the road to supply side economics, so we've had 30+ years of uninterrupted trickle down. It should be a downpour by now, but nothing . . . crickets.

too perfectly stupid by 1000%!!!! We have Obamacare now, the highest corporate tax in the world, we depend more on the top 1% for government revenue than any country in the world, and we have a president who voted to the left of Bernie Sanders!!!

That's the opposite of Reagan and this is very very obvious to all but the slowest of the slow?? Why are you here if not to make libturds look even worse than they do??

To the left of Bernie Sanders you say?

How about some specifics.

 

[EdwardBaiamonte]

And since the tax code hasn't been overhauled since Reagan started the US on the road to supply side economics, so we've had 30+ years of uninterrupted trickle down. It should be a downpour by now, but nothing . . . crickets.

too perfectly stupid by 1000%!!!! We have Obamacare now, the highest corporate tax in the world, we depend more on the top 1% for government revenue than any country in the world, and we have a president who voted to the left of Bernie Sanders!!!

That's the opposite of Reagan and this is very very obvious to all but the slowest of the slow?? Why are you here if not to make libturds look even worse than they do??

To the left of Bernie Sanders you say?

How about some specifics.

The ratings system -- devised in 1981 under the direction of William Schneider, a political analyst and commentator, and a contributing editor to National Journal -- also assigns "composite" scores, an average of the members' issue-based scores. In 2007, Obama's composite liberal score of 95.5 was the highest in the Senate. Rounding out the top five most liberal senators last year were Sens. Sheldon Whitehouse, D-R.I., with a composite liberal score of 94.3; Joseph Biden, D-Del., with a 94.2; Bernie Sanders, I-Vt., with a 93.7; and Robert Menendez, D-N.J., with a 92.8.

 

[Dragonlady]

too perfectly stupid by 1000%!!!! We have Obamacare now, the highest corporate tax in the world, we depend more on the top 1% for government revenue than any country in the world, and we have a president who voted to the left of Bernie Sanders!!!

That's the opposite of Reagan and this is very very obvious to all but the slowest of the slow?? Why are you here if not to make libturds look even worse than they do??

You DON'T have the highest corporate tax rate in the world. Your EFFECTIVE tax rate, the one that big corporations actually pay, is one of the lowest in the world, and you have the lowest tax rate on the 1% of any major country.

I really don't know or care who Bernie Sanders is. Your President is still 50 paces to the right of Atilla the Hun.

 

[EdwardBaiamonte]

You DON'T have the highest corporate tax rate in the world. Your EFFECTIVE tax rate, the one that big corporations actually pay, is one of the lowest in the world,

you are a brainwashed idiot liberal:
Effective Tax Rates for 2012
Figure 1 summarizes our corporate tax rate
calculations. The U.S. METR(marginal effective tax rates) is 35.6 percent in 2012, or
almost twice the 90-country average of 18.2 percent. The
average rate for the 34 Organization for Economic
Cooperation and Development (OECD) nations is just 19.4
percent. While the U.S. corporate tax rate has remained
high, the global trend for both statutory and effective
corporate tax rates has been downward

and you have the lowest tax rate on the 1% of any major country.

too stupid name a country that gets more than 42% of its revenue from top 1% or admit to being an brainwashed fool liberal who has no business being here!!

I really don't know or care who Bernie Sanders is. Your President is still 50 paces to the right of Atilla the Hun.

I agree since powerful liberal central government leaders like Atila the Hun, Hitler, Stalin, and Mao were more liberal than even Obama.

Dear, you are not smart enough to be here so why do you bother??