Bono: “Capitalism takes more people out of poverty than aid”

[NYcarbineer]

Capitalism is probably one of the best things humanity ever created. Pure capitalism can be bad but a hybrid system of it works with human nature...Wanting to improve on ones self.

Capitalism runs the train. Socialism saves the people the train tries to leave behind.

Socialism derails the train so everyone is equally poor and miserable.
Next ridiculous metaphor you'd care to foist?

I suppose that would make sense to someone simpleminded enough to believe that an economic system must necessarily be all capitalism or all socialism.

 

[Yurt]

go back to clinton era tax rates and welfare benefits

 

[kiwiman127]

I agree with Bono.
But the capitalism of today has been weakened by a weakening Middle Class due to falling/flat incomes.
+++++++++++++++++++++++++++++++++++++++++
The fundamental law of capitalism is that if workers have no money, businesses have no customers. That’s why the extreme, and widening, wealth gap in our economy presents not just a moral challenge, but an economic one, too. In a capitalist system, rising inequality creates a death spiral of falling demand that ultimately takes everyone down.
Low-wage jobs are fast replacing middle-class ones in the U.S. economy. Sixty percent of the jobs lost in the last recession were middle-income, while 59 percent of the new positions during the past two years of recovery were in low-wage industries that continue to expand such as retail, food services, cleaning and health-care support. By 2020, 48 percent of jobs will be in those service sectors.
The Capitalist?s Case for a $15 Minimum Wage - Bloomberg
+++++++++++++++++++++++++++++++++++++++++++
To detour poverty, to strengthen the middle class and to for the US to participate in the perfect model of capitalism there has be a loosening of the current state of wage growth.
Is this not a better approach than living in a society where poverty is growing along with the usage of taxpayer funded entitlements?

If customers dont have money then businesses dont either.
Duh.

It is the result of Obama's terrible policies that we have the worst growth in history, not likely to improve. Had he spent his time playing golf instead of dreaming up ways to screw working Americans we would see higher paying jobs.

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

 

[eflatminor]

Who ended slavery?

When government no longer forces some to labor on behalf of others, we can talk about the end of slavery. Until then...

 

[The Rabbi]

I agree with Bono.
But the capitalism of today has been weakened by a weakening Middle Class due to falling/flat incomes.
+++++++++++++++++++++++++++++++++++++++++
The fundamental law of capitalism is that if workers have no money, businesses have no customers. That’s why the extreme, and widening, wealth gap in our economy presents not just a moral challenge, but an economic one, too. In a capitalist system, rising inequality creates a death spiral of falling demand that ultimately takes everyone down.
Low-wage jobs are fast replacing middle-class ones in the U.S. economy. Sixty percent of the jobs lost in the last recession were middle-income, while 59 percent of the new positions during the past two years of recovery were in low-wage industries that continue to expand such as retail, food services, cleaning and health-care support. By 2020, 48 percent of jobs will be in those service sectors.
The Capitalist?s Case for a $15 Minimum Wage - Bloomberg
+++++++++++++++++++++++++++++++++++++++++++
To detour poverty, to strengthen the middle class and to for the US to participate in the perfect model of capitalism there has be a loosening of the current state of wage growth.
Is this not a better approach than living in a society where poverty is growing along with the usage of taxpayer funded entitlements?

If customers dont have money then businesses dont either.
Duh.

It is the result of Obama's terrible policies that we have the worst growth in history, not likely to improve. Had he spent his time playing golf instead of dreaming up ways to screw working Americans we would see higher paying jobs.

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

There is no "era of flat wages." Do you know anyone in the same job making the same money he was in the 1980s?
Another clever misuse of statistics to fool the foolish.

 

[The Rabbi]

Benefits of socialism
1. High working standards for the workers
2. Fairness to the smaller businesses/corporations. No more standard oil or Grand bell telephones.
3. Children aren't abused...Sure something's like office work and helping to clean up are fine.

Like I said we need a system that allows a person to advance but also be treated well.

you do ma bell was broken up in like the 80's right?

I mean owning the market within a monopoly.

What does that even mean?

 

[AmazonTania]

I agree with Bono.
But the capitalism of today has been weakened by a weakening Middle Class due to falling/flat incomes.
+++++++++++++++++++++++++++++++++++++++++
The fundamental law of capitalism is that if workers have no money, businesses have no customers. That’s why the extreme, and widening, wealth gap in our economy presents not just a moral challenge, but an economic one, too. In a capitalist system, rising inequality creates a death spiral of falling demand that ultimately takes everyone down.
Low-wage jobs are fast replacing middle-class ones in the U.S. economy. Sixty percent of the jobs lost in the last recession were middle-income, while 59 percent of the new positions during the past two years of recovery were in low-wage industries that continue to expand such as retail, food services, cleaning and health-care support. By 2020, 48 percent of jobs will be in those service sectors.
The Capitalist?s Case for a $15 Minimum Wage - Bloomberg
+++++++++++++++++++++++++++++++++++++++++++
To detour poverty, to strengthen the middle class and to for the US to participate in the perfect model of capitalism there has be a loosening of the current state of wage growth.
Is this not a better approach than living in a society where poverty is growing along with the usage of taxpayer funded entitlements?

If customers dont have money then businesses dont either.
Duh.

It is the result of Obama's terrible policies that we have the worst growth in history, not likely to improve. Had he spent his time playing golf instead of dreaming up ways to screw working Americans we would see higher paying jobs.

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

Well, we have record earnings. Profits are another matter. Most of these profits are unrealised.

You should also know that you are confusing earnings with profits. Earnings are your total revenue. These are used to cover things like your cost of revenue, operation cost, etc. Profits are what is left over after everything has been paid.

 

[ScienceRocks]

I agree with Bono.
But the capitalism of today has been weakened by a weakening Middle Class due to falling/flat incomes.
+++++++++++++++++++++++++++++++++++++++++
The fundamental law of capitalism is that if workers have no money, businesses have no customers. That’s why the extreme, and widening, wealth gap in our economy presents not just a moral challenge, but an economic one, too. In a capitalist system, rising inequality creates a death spiral of falling demand that ultimately takes everyone down.
Low-wage jobs are fast replacing middle-class ones in the U.S. economy. Sixty percent of the jobs lost in the last recession were middle-income, while 59 percent of the new positions during the past two years of recovery were in low-wage industries that continue to expand such as retail, food services, cleaning and health-care support. By 2020, 48 percent of jobs will be in those service sectors.
The Capitalist?s Case for a $15 Minimum Wage - Bloomberg
+++++++++++++++++++++++++++++++++++++++++++
To detour poverty, to strengthen the middle class and to for the US to participate in the perfect model of capitalism there has be a loosening of the current state of wage growth.
Is this not a better approach than living in a society where poverty is growing along with the usage of taxpayer funded entitlements?

If customers dont have money then businesses dont either.
Duh.

It is the result of Obama's terrible policies that we have the worst growth in history, not likely to improve. Had he spent his time playing golf instead of dreaming up ways to screw working Americans we would see higher paying jobs.

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

What the government needs to do is focus tax reductions for corporations that hire people....Hire someone = a slight reduction.

Secondly, they need to make those gifts for their ceo's painful. Every million dollars = 2% increase in tax.

This would make them want to hire people and pay them better. I feel it is a mistake to tax a larger corporation within the way we're today as it punishes investment and hiring(increasing the size).

 

[CrusaderFrank]

Obama context filter translated the comments as "capitalism causes AIDS"

Sent from my DROID RAZR using Tapatalk 2

 

[ScienceRocks]

you do ma bell was broken up in like the 80's right?

I mean owning the market within a monopoly.

What does that even mean?

Wow, a little weak on the history I see. Read about standard oil and how they broke it up to be fair within the market place.

 

[kiwiman127]

If customers dont have money then businesses dont either.
Duh.

It is the result of Obama's terrible policies that we have the worst growth in history, not likely to improve. Had he spent his time playing golf instead of dreaming up ways to screw working Americans we would see higher paying jobs.

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

There is no "era of flat wages." Do you know anyone in the same job making the same money he was in the 1980s?
Another clever misuse of statistics to fool the foolish.

OK. no flat wages you say. The chart that shows that you're comment is just plain wrong, the chart is based on Real Dollars via the Department of Labor. The Department of Lbor has used Real Dollars to determine wage grow th for decades. Most financial publications and economist also use Real Dollars. Real Dollars and nominal income are both charted. You do know the difference I hope. If you did then you'd see that wages have truly been flat. If you don't understand the difference, well then I can understand your comment.
Here's and explanation of Real versus nominal.
Real vs. Nominal, High School Economics Topics | Library of Economics and Liberty

 

[Ava]

Bono: “Capitalism takes more people out of poverty than aid”

Yes, just compare Tokyo to Detroit, for an example.


http://frontpagemag.com/2012/david-...to-the-poor-lasts-longer-than-a-nuclear-bomb/

 

[The T]

Bono: “Capitalism takes more people out of poverty than aid”

Yes, just compare Tokyo to Detroit, for an example.

To which I would add that BONO sure has enjoyed his capitalistic venture in the entertainment business, hasn't he?

The man talks out of his ass as usual.

 

[The Rabbi]

I mean owning the market within a monopoly.

What does that even mean?

Wow, a little weak on the history I see. Read about standard oil and how they broke it up to be fair within the market place.

Maybe you should.
Standard Oil kept prices at below market rates because they were scared of competition from smaller companies. How does that hurt people?

 

[The Rabbi]

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

There is no "era of flat wages." Do you know anyone in the same job making the same money he was in the 1980s?
Another clever misuse of statistics to fool the foolish.

OK. no flat wages you say. The chart that shows that you're comment is just plain wrong, the chart is based on Real Dollars via the Department of Labor. The Department of Lbor has used Real Dollars to determine wage grow th for decades. Most financial publications and economist also use Real Dollars. Real Dollars and nominal income are both charted. You do know the difference I hope. If you did then you'd see that wages have truly been flat. If you don't understand the difference, well then I can understand your comment.
Here's and explanation of Real versus nominal.
Real vs. Nominal, High School Economics Topics | Library of Economics and Liberty

You've already posted a chart. It doesnt mean what you say it means.
There are no flat wages, only flat heads.

 

[NYcarbineer]

If customers dont have money then businesses dont either.
Duh.

It is the result of Obama's terrible policies that we have the worst growth in history, not likely to improve. Had he spent his time playing golf instead of dreaming up ways to screw working Americans we would see higher paying jobs.

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

Well, we have record earnings. Profits are another matter. Most of these profits are unrealised.

You should also know that you are confusing earnings with profits. Earnings are your total revenue. These are used to cover things like your cost of revenue, operation cost, etc. Profits are what is left over after everything has been paid.

Corporate profits hit record as wages get squeezed

Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever.
In the third quarter, corporate earnings were $1.75 trillion, up 18.6% from a year ago, according to last week'si gross domestic product report. That took after-tax profits to their greatest percentage of GDP in history.

But the record profits come at the same time that workers' wages have fallen to their lowest-ever share of GDP.

Corporate profits hit record as wages get squeezed - Dec. 3, 2012

 

[AmazonTania]

So, that explains companies having record profits yet workers wages have been flat in Real Dollars since the 80's.
Proof that the era of flat wages have hurt our capitalistic economy. The chart clearly shows that since the era of flat wages began, recessions take longer and longer to recover. Compare recessions when the Middle Class was strong and note the difference after flat wages really started being felt.
Anyone who just a slight knowledge of economics knows this phenomenon has been years in the making.

Well, we have record earnings. Profits are another matter. Most of these profits are unrealised.

You should also know that you are confusing earnings with profits. Earnings are your total revenue. These are used to cover things like your cost of revenue, operation cost, etc. Profits are what is left over after everything has been paid.

Corporate profits hit record as wages get squeezed

Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever.
In the third quarter, corporate earnings were $1.75 trillion, up 18.6% from a year ago, according to last week'si gross domestic product report. That took after-tax profits to their greatest percentage of GDP in history.

But the record profits come at the same time that workers' wages have fallen to their lowest-ever share of GDP.

Corporate profits hit record as wages get squeezed - Dec. 3, 2012

Fantastic. Although I'm not sure if you understand what unrealised profits are. Generally speaking, these are profits which have yet to be cashed in. Profitable, but only on paper. I'll give you one example. There are many corporations who are parking their profits offshore, as they have offshore earnings. Microsoft, Cisco, Johnson & Johnson, Apple, they're all doing it.

These are an example of unrealised profits, because the second these corporations repatriate these funds back on American soil, they will be hit with a full 35% corporate tax.

Corporations may be profitable, but it's only on paper.

 

[kiwiman127]

There is no "era of flat wages." Do you know anyone in the same job making the same money he was in the 1980s?
Another clever misuse of statistics to fool the foolish.

OK. no flat wages you say. The chart that shows that you're comment is just plain wrong, the chart is based on Real Dollars via the Department of Labor. The Department of Lbor has used Real Dollars to determine wage grow th for decades. Most financial publications and economist also use Real Dollars. Real Dollars and nominal income are both charted. You do know the difference I hope. If you did then you'd see that wages have truly been flat. If you don't understand the difference, well then I can understand your comment.
Here's and explanation of Real versus nominal.
Real vs. Nominal, High School Economics Topics | Library of Economics and Liberty

You've already posted a chart. It doesnt mean what you say it means.
There are no flat wages, only flat heads.

I offer proof based on the Department of Labor why don't you prove me wrong with some facts instead of conjecture based on,,,,,?

 

[AmazonTania]

Real employee compensation hasn't exactly been flat, but it's barely risen above pre-recession levels.

 

[NYcarbineer]

Well, we have record earnings. Profits are another matter. Most of these profits are unrealised.

You should also know that you are confusing earnings with profits. Earnings are your total revenue. These are used to cover things like your cost of revenue, operation cost, etc. Profits are what is left over after everything has been paid.

Corporate profits hit record as wages get squeezed

Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever.
In the third quarter, corporate earnings were $1.75 trillion, up 18.6% from a year ago, according to last week'si gross domestic product report. That took after-tax profits to their greatest percentage of GDP in history.

But the record profits come at the same time that workers' wages have fallen to their lowest-ever share of GDP.

Corporate profits hit record as wages get squeezed - Dec. 3, 2012

Fantastic. Although I'm not sure if you understand what unrealised profits are. Generally speaking, these are profits which have yet to be cashed in. Profitable, but only on paper. I'll give you one example. There are many corporations who are parking their profits offshore, as they have offshore earnings. Microsoft, Cisco, Johnson & Johnson, Apple, they're all doing it.

These are an example of unrealised profits, because the second these corporations repatriate these funds back on American soil, they will be hit with a full 35% corporate tax.

Corporations may be profitable, but it's only on paper.

I don't think you realize when you're full of shit. Go back to Canada and read a book.