A Modest Proposal...

[Foxfyre]

Bullshit.

Here's what the two main drivers of inflation are. 1) Increases in costs of commodities (particularly petroleum, but also metals, etc.) on a global scale, and 2) the labor shortage in the US driving wage increases.

Now the former was caused largely by Covid and how badly Trump fucked that up. Demand went down for commodities, and then sprung right back up again. Now those commodity markets are stabilizing or even going down. The labor issue, however, is more complex.

The Labor participation rate has been dropping since 2011, when the Baby Boomers started retiring en masse. At the same time, we made it harder to replace them with foreign workers because too many white people lived in mortal fear that their daughters might start dating Mexicans. What should have happened in the Teens was that interest rates should have been increased once unemployment dropped below 5%, but it wasn't. Everyone loved bragging about low unemployment, without realizing that if it stays too low for too long, eventually, you have companies poaching each others employees and you are paying someone $20.00 an hour to flip burgers.



Okay, maybe you should educate yourself. The package you whine about was a $25MM aid package to encourage democracy and women's rights in Pakistan. Um, this is actually a GOOD thing. The last thing you want is Pakistan to go the way of Afghanistan, because the have 20 times as many people and nukes. So we really do have kind of a vested interest in promoting democracy and women's rights in Pakistan. Oh, and it was approved under Trump.

US Congress clears $25 million for democracy, gender programmes in Pakistan

The US Congress on Tuesday approved USD 25 million civilian aid package for Pakistan to strengthen democracy and promote women's rights in the South Asian country

www.business-standard.com

But by your logic, I guess, we should wait until the Taliban takes over Pakistan. Yeah, that's the ticket.


You think Powell would be raising interest rates if Biden was opposed?
Now, I have mixed feelings on the interest rate thing. Fortunately, I locked in my mortgages before they jacked up this high.

But I question the wisdom of trying to control inflation on the backs of working people, to be honest. This is what Carter and Reagan did back in the 1980's, and it was devastating for the middle class. I also question if it would work. The 1980's strategy worked because Baby Boomers were entering the workforce, but now they are leaving it.

Are We Headed for a Hyperinflation?

Is the U.S. risking a devalued currency and uncontrollable inflation by printing so much money? Learn about hyperinflation and if we should worry.

www.investopedia.com

 

[Foxfyre]

Having skin in the game, being remunerated via performance might actually amount to bona fide representation

~S~

What we should do is take the profit motive out of the government. No more government pensions. No salaries or expense account raises above official cost of living increases and those must be passed with recorded vote during the daytime and be 100% transparent. Those in government whether elected, appointed or hired can contribute to their own 401k or whatever and that's what they have when they leave their positions and they use the same health plan that is available to all U.S. citizens. I don't have a problem with a modest match of 401k contributions for employees with a reasonable cap. No match for those elected or appointed.

There will be no expenditures of any kind that are not necessary or benefit people in all 50 states, i.e. no more earmarks for this or that state or city or group or special interest studies, giveaways, etc.

The general budget to run the necessary functions of government will be passed by department each year and will be created via zero base budgeting, no more automatic increases over the previous year. ALL other expenditures must be stand alone bills made public before the vote and with recorded votes and no votes can be changed after the fact. Congress must stay within the budget except for extreme emergencies such as another country attacking us or temporary very large scale natural disasters. Going over budget in that regard must be temporary and then the budget returns to previous levels.

Elected senators and representatives must recuse themselves from any vote that will uniquely affect their personal assets or that of their immediate family.

Then we will elect public servants again instead of so many professional politicians who are in it for their own glory and enrichment.

 

[Zincwarrior]

We can and should cancel absolutely every program, project, expenditure that is not necessary, useful, beneficial to all the people in all 50 states and/or should never be the prerogative of the federal government.

Does that include farm subsidies?
Does that include road and bridge projects like the new bridge to be built in Kentucky?
Does that include the FDA?
Does that include Social Security?
Does that include Medicare?

 

[Foxfyre]

Does that include farm subsidies?
Does that include road and bridge projects like the new bridge to be built in Kentucky?
Does that include the FDA?
Does that include Social Security?
Does that include Medicare?

Maybe if I type more slowly you will see what I said?

We can and should cancel absolutely every program, project, expenditure that is not necessary, useful, beneficial to all the people in all 50 states and/or should never be the prerogative of the federal government.

 

[Zincwarrior]

Maybe if I type more slowly you will see what I said?

We can and should cancel absolutely every program, project, expenditure that is not necessary, useful, beneficial to all the people in all 50 states and/or should never be the prerogative of the federal government.

You should answer the question.

 

[Foxfyre]

You should answer the question.

I did.-

 

[Zincwarrior]

I did.-

No you stated a vague pablum. Answer about those specific areas.

 

[Foxfyre]

No you stated a vague pablum. Answer about those specific areas.

Farm subsidies necessary to protect the national food supply yes. Otherwise no.
Road and bridge projects on the interstate highway system yes. Otherwise no.
The FDA protects all Americans equally but Congress should vote on any rules/regulations that impact the people's pocket book, assets, property etc.
Social Security is equally available to all Americans but must be competently managed to keep it affordable and not a burden.
Medicare is equally available to all Americans but must be competently managed to keep it affordable and not a burden.

I think smart people know this without it having to be spelled out for them.

 

[fncceo]

The corporations that pay no taxes.

Last year, 105 Billion in income tax was collected from US Corporations. 10% of all tax revenues.

That doesn't include sales taxes collected on their product.

Collectively, both sales tax and corporate taxes represents a tax on consumers because they can only be paid by those same companies raising prices on goods and services to account for the loss in revenue.

 

[sparky]

What we should do is take the profit motive out of the government. No more government pensions. No salaries or expense account raises above official cost of living increases and those must be passed with recorded vote during the daytime and be 100% transparent. Those in government whether elected, appointed or hired can contribute to their own 401k or whatever and that's what they have when they leave their positions and they use the same health plan that is available to all U.S. citizens. I don't have a problem with a modest match of 401k contributions for employees with a reasonable cap. No match for those elected or appointed.

There will be no expenditures of any kind that are not necessary or benefit people in all 50 states, i.e. no more earmarks for this or that state or city or group or special interest studies, giveaways, etc.

The general budget to run the necessary functions of government will be passed by department each year and will be created via zero base budgeting, no more automatic increases over the previous year. ALL other expenditures must be stand alone bills made public before the vote and with recorded votes and no votes can be changed after the fact. Congress must stay within the budget except for extreme emergencies such as another country attacking us or temporary very large scale natural disasters. Going over budget in that regard must be temporary and then the budget returns to previous levels.

Elected senators and representatives must recuse themselves from any vote that will uniquely affect their personal assets or that of their immediate family.

Then we will elect public servants again instead of so many professional politicians who are in it for their own glory and enrichment.

I'll agree the system needs to be changed, if not challenged, to survive Fox

And a lot of your remedies here seem to tie those in power towards a connection with the middle class.


In fact, if there were some sort of middle class metric that could apply, I.E.> Congressional salaries on some sliding fee scale relative to those being represented, i'd wager them a fairer , if not frugal voting entity

~S~

 

[Foxfyre]

Last year, 105 Billion in income tax was collected from US Corporations. 10% of all tax revenues.

That doesn't include sales taxes collected on their product.

Collectively, both sales tax and corporate taxes represents a tax on consumers because they can only be paid by those same companies raising prices on goods and services to account for the loss in revenue.

This is what some seem incapable of understanding. Corporations don't pay taxes. Whatever taxes are imposed on them is immediately passed on to the consumers, however poor those consumers may be. Sales taxes are regressive in the same way as it puts a greater burden on necessities that all consumers, however poor, must buy.

The most fair means of taxation are usage taxes. Those who use a government service pay to use it. But that would be an administrative nightmare to manage.

A flat income tax above a reasonable threshold (so you don't have the kids' lemonade stand having to have an accountant) that EVERYBODY pays is the second most fair and would require the least administrative costs. And it would eliminate politicians being able to solicit votes from poorer Americans by claiming they'll get all the money from only the rich. Americans will vote very differently if they are personally impacted by what Congress spends.

And responsible government that spends only what is necessary to spend will greatly increase all Americans' opportunity and incentive to prosper.

 

[Foxfyre]

I'll agree the system needs to be changed, if not challenged, to survive Fox

And a lot of your remedies here seem to tie those in power towards a connection with the middle class.


In fact, if there were some sort of middle class metric that could apply, I.E.> Congressional salaries on some sliding fee scale relative to those being represented, i'd wager them a fairer , if not frugal voting entity

~S~

I wouldn't mind paying congressional representatives/senators a modestly higher salary if we take away congressional pensions and other perks they use to enrich themselves. I don't want a situation in which only rich people can afford to serve in Congress. The cost of living in Washington DC in addition to maintaining a home in one's own state is not cheap.

But take away their ability to enrich themselves while serving in Congress and we have true public servants instead of professional politicians running for Congress again. And only those who truly love the job will stay in it providing experience and stability while most will likely term limit themselves out.

 

[pknopp]

We can and should cancel absolutely every program, project, expenditure that is not necessary, useful, beneficial to all the people in all 50 states and/or should never be the prerogative of the federal government.

People do need to get across country.........just saying.

 

[Foxfyre]

People do need to get across country.........just saying.

Which is the purpose of the interstate highway system plus infrastructure for national defense which is a legitimate federal concern in cooperation with the states. State highways, however, should be the responsibility of the states and the people who use them.

 

[fncceo]

People do need to get across country.........just saying.

Rairoads, Airlines, and state highways.

 

[B. Kidd]

Time can't be bought.
But please, buy all the time they can, until it all comes crashing down.
I only have 10-15 good years left, and I banked on this mess.

Coolio.....

 

[BackAgain]

Who was it exactly that created this wealth?

https://www.washingtonpost.com/business/2020/04/29/federal-reserve-has-pumped-23-trillion-into-us-economy-its-just-getting-started/

Fed to pump in more than $1 trillion in dramatic ramping up of market intervention amid coronavirus meltdown

This was done over and over for years and years.

Who created this "wealth"?

It wasn’t the politicians and it wasn’t the recipients of welfare.

 

[pknopp]

It wasn’t the politicians and it wasn’t the recipients of welfare.

It wasn't business.

 

[BackAgain]

It wasn't business.

Of course it was.

 

[pknopp]

Of course it was.

I don't know how to reply to someone that believes business can just print money.