Zone1 The Number One Driver Of The Debt Is The Bush, And Trump Tax Cuts ForThe Rich

[Deplorable Yankee]

 

[Red Front]

Not sure if we're both on the same page here. The service sector I'm talking about is now called the tertiary sector (from here):


The idea being that just like early in the last century when someone in the manufacturing sector sold a tractor to a farmer, the farmer produced a lot more. Same goes now when some service sector guy tells the factories to organize more efficiently they end up manufacturing a lot more.

What I'm seeing is that private debt/assets is going down. There are hard numbers on this if ur interested but most folks just want to say "ain't it awful" and leave it at that. Let me know if you want share info.

The service sector or the "tertiary sector" (a fancy-schmancy word used by some academics), in general offers lower pay and benefits than well unionized manufacturing jobs. Approximately 65K factories in the United States, between 1981 and 2014, moved to the third world, stripping millions of Americans of good paying, often unionized jobs with great benefits. All of that went down the commode for the working class starting with Ronald Reagan's right-wing, supply-side, "trickle-down" economics. In the long term, it all went to shit. Short-term gains at the cost of the long-term health of the economy, to the detriment of the American working class (which is the very foundation and backbone of the American economy and capitalism in general). When the wealthy elites make an exuberant amount of money at the expense of their workers, the whole edifice of capitalism suffers and eventually collapses.

Do you think breaking up labor unions and lowering wages and benefits is going to help capitalism in the long term? It undermines it and creates unlivable conditions for the working class which then translates into more people on government welfare, more crime, drug abuse, civil unrest, and more moms and grandmas needing to get a 9 to 5 job. Where are the family values in that? I was raised in the 1970s and 80s, and around 85-86, when I was 12, or 13 years old, I became a lachkey kid. My mom and even my 60+-year-old grandma had to get a job. Until then, the men in the family supported everyone with their incomes.

​

 

[Cellblock2429]

The service sector or the "tertiary sector" (a fancy-schmancy word used by some academics), in general offers lower pay and benefits than well unionized manufacturing jobs. Approximately 65K factories in the United States, between 1981 and 2014, moved to the third world, stripping millions of Americans of good paying, often unionized jobs with great benefits. All of that went down the commode for the working class starting with Ronald Reagan's right-wing, supply-side, "trickle-down" economics. In the long term, it all went to shit. Short-term gains at the cost of the long-term health of the economy, to the detriment of the American working class (which is the very foundation and backbone of the American economy and capitalism in general). When the wealthy elites make an exuberant amount of money at the expense of their workers, the whole edifice of capitalism suffers and eventually collapses.

You capitalists cut your noses at the expense of your faces. Do you think breaking up labor unions and lowering wages and benefits is going to help capitalism in the long term? It undermines it and creates unlivable conditions for the working class which then translates into more people on government welfare, more crime, drugs, civil unrest, and more moms and grandmas needing to get a 9 to 5 job. Where are the family values in that? I was raised in the 1970s and 80s, and around 85-86, when I was 12, or 13 years old, I became a lachkey kid. My mom and even my 60+-year-old grandma had to get a job. Until then, the men in the family supported everyone with their incomes.

​

/——-/ If not trickle down, please explain what happens to the economy and labor when a rich person buys an American made luxury item like a limo or yacht? How and where does the money from the purchase enter the economy?

 

[Red Front]

Members who reacted to message #243

All (1)

Fake News (1)​

• 1. ​

     ​

     ​

  2. [IMG alt="Cellblock2429"]https://www.usmessageboard.com/data/avatars/s/58/58304.jpg?1624675523[/IMG]
     
     
     24 minutes ago
     

     Cellblock2429​

     ​

     How is that "fake news" cellblock? Don't run away, debate me. How is it fake news? Present your evidence and stop being a coward. Stop punking out.​

 

[Woodznutz]

You just need to know how to navigate the financial system and everything will be ok. Here's how I do it. I spend less than I earn and invest the surplus.

 

[Woodznutz]

Or rather we meet all our needs and export the rest.

The U.S. is such an amazingly rich nation that I personally take this debt talk as a distraction. Sure it has to be watched but the current debt service (what we're paying for the debt) is workable. We want some debt because it's either we tax more or we borrow.

I prefer borrow.

Productivity is high.
Unemployment is low.
Yet there are huge disparities in income and wealth.
Whyzat?

 

[Ordinary Guy]

Trump inherited the Obsma economy then drove it into the ground with his tax cuts.

Obama Economy, snail like movement in retirement returns, please post something intelligent LOL

 

[Billo_Really]

Trump cut taxes, revenue went up, real wages went up, inflation was less than 2%, unemployment went to it's lowest since the Vietnam draft and the poverty rate went to it's all time record low in the history of the USA.

Trump made the economy great.

That's the exact opposite of driving the economy into the ground, you fucking moron.

How can someone who filed chapter 11 about a dozen times, make this economy great? The dudes' an idiot with no business knowledge at all.

 

[Billo_Really]

Obama Economy, snail like movement in retirement returns, please post something intelligent LOL

After what Bush43 left the economy, Obama turned it around and was growing when The Donald took over.

 

[Cellblock2429]

That's all that tax cut meant to me. 27
dollars!

/——-/ Youse pays little you get little back. Youse pays lots youse get lots back.

 

[Billo_Really]

/——-/ Youse pays little you get little back. Youse pays lots youse get lots back.

It was BS legislation that just benefitted the top 1% of the country. FU Trump!

 

[Cellblock2429]

It was BS legislation that just benefitted the top 1% of the country. FU Trump!

/——-/ Well both you and I got a refund based on our income, so we must both be on the top 1%. Who knew?

 

[Billo_Really]

/——-/ Well both you and I got a refund based on our income, so we must both be on the top 1%. Who knew?

I got $27.

 

[Papageorgio]

How can someone who filed chapter 11 about a dozen times, make this economy great? The dudes' an idiot with no business knowledge at all.

Presidents don't have business knowledge and they have little if anything to do with the immediate economy, it can take years of policy to hurt or help. The other way is a major event or pumping lots of money into the economy.

 

[Cellblock2429]

How can someone who filed chapter 11 about a dozen times, make this economy great? The dudes' an idiot with no business knowledge at all.

/——/ President Trump never filed for personal bankruptcy. The casino business in Atlantic City was dying because of all the new casinos opening in NY and PA. He got out while the getting was good.He currently runs 500 successful businesses. But you already knew this because it’s been discussed many times here. A simple google search about Atlantic City would explain it in words you can understand.

 

[Cellblock2429]

I got $27.

/——-/ You wanted money you didn’t deserve?

 

[expat_panama]

/——/ Folks, here’s another liberal economics major whose almost as bright as AOC.

What, you're saying that the U.S. gov't should simply raise taxes even higher instead of borrowing? That's what liberals want, all the nation's wealth in the hands of the Feds.

I don't, you sound like you do.

 

[expat_panama]

The service sector or the "tertiary sector" (a fancy-schmancy word used by some academics), in general offers lower pay and benefits than well unionized manufacturing jobs...

What, you're saying that doctors and lawyers make less money than some clown mopping floors at GM?

 

[Cellblock2429]

What, you're saying that the U.S. gov't should simply raise taxes even higher instead of borrowing? That's what liberals want, all the nation's wealth in the hands of the Feds.

I don't, you sound like you do.

/-----/ No Einstein, but nice try at a Straw Man Argument. I want the Government to CUT SPENDING AND OPERATE WITHiN ITS MEANS LIKE ALL AMERICANS HAVE TO DO. Sounds like you don't.

 

[BackAgain]

The thread headline is a lie and the thread OP is plainly absurd.

In reality:

The main driver of the debt is massive and utterly reckless spending. It’s not tax cuts at all.