How Can America Create Jobs ?

[protectionist]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

 

[Mojo2]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Tax cut AND a spending cut.

Then stand back and watch America get back to working.

Tax cuts WITHOUT spending cuts is what W did.

That doesn't work.

Tax cuts WITH spending cuts does work.

 

[protectionist]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Tax cut AND a spending cut.

Then stand back and watch America get back to working.

Tax cuts WITHOUT spending cuts is what W did.

That doesn't work.

Tax cuts WITH spending cuts does work.

How will this create jobs ?

 

[jasonnfree]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Maybe raise tariffs on American companies using chinese labor and then sending the products back here? This would give American companies operating in this country a better chance to compete. Interesting to get the economists opinion. There are a few that post here.

 

[Bombur]

Our best hope is to increase trade to China. The US has helped globalization greatly by providing an extremely powerful consumer market for producers to sell to. That consumer market is tapped out. The wages and debt that has fueled US consumption is drying up and some other nations has to step up.

 

[protectionist]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Maybe raise tariffs on American companies using chinese labor and then sending the products back here? This would give American companies operating in this country a better chance to compete. Interesting to get the economists opinion. There are a few that post here.

I agree totally with that suggestion. I've suggested it myself, a number of times.

 

[protectionist]

Our best hope is to increase trade to China. The US has helped globalization greatly by providing an extremely powerful consumer market for producers to sell to. That consumer market is tapped out. The wages and debt that has fueled US consumption is drying up and some other nations has to step up.

I don't think I would agree with that. Quite a stretch to say the consumer market is tapped out in the US. There still is a vigorous consumer base (visit any WalMart on a saturday afternoon, and see how long you have to stand in line to check out)

 

[Bombur]

Our best hope is to increase trade to China. The US has helped globalization greatly by providing an extremely powerful consumer market for producers to sell to. That consumer market is tapped out. The wages and debt that has fueled US consumption is drying up and some other nations has to step up.

I don't think I would agree with that. Quite a stretch to say the consumer market is tapped out in the US. There still is a vigorous consumer base (visit any WalMart on a saturday afternoon, and see how long you have to stand in line to check out)

When I said tapped out I meant it within the context of growth. I do not think creating goods that can be sold at Wal Mart is a growth area for US production. It is certainly not as attractive as a growing Chinese middle class. A market that we don't currently have better access to because of Chinese monetary policy.

Reducing trade with China is an option but I think that production is just as likely going to be replaced by some other foreign production as opposed to US production.

In 50 years China will be a massive consumer economy and one of the most important things we can do today is ensure that the US has great access to that market in the future.

 

[protectionist]

Our best hope is to increase trade to China. The US has helped globalization greatly by providing an extremely powerful consumer market for producers to sell to. That consumer market is tapped out. The wages and debt that has fueled US consumption is drying up and some other nations has to step up.

I don't think I would agree with that. Quite a stretch to say the consumer market is tapped out in the US. There still is a vigorous consumer base (visit any WalMart on a saturday afternoon, and see how long you have to stand in line to check out)

When I said tapped out I meant it within the context of growth. I do not think creating goods that can be sold at Wal Mart is a growth area for US production. It is certainly not as attractive as a growing Chinese middle class. A market that we don't currently have better access to because of Chinese monetary policy.

Reducing trade with China is an option but I think that production is just as likely going to be replaced by some other foreign production as opposed to US production.

In 50 years China will be a massive consumer economy and one of the most important things we can do today is ensure that the US has great access to that market in the future.

In 50 years, I'll be dead, so I'm not too concerned, but what makes you think China will have a massive consumer economy ? Why would the less than $2/hour (in US dollars) that Chinese workers make now be any higher 50 years from now ? In our case (USA), our real incomes have shrunk since 50 years ago, and our minimum wage is less now (in buying power) than it was then. So what would make China so special ?

 

[Bombur]

In 50 years, I'll be dead, so I'm not too concerned, but what makes you think China will have a massive consumer economy ? Why would the less than $2/hour (in US dollars) that Chinese workers make now be any higher 50 years from now ? In our case (USA), our real incomes have shrunk since 50 years ago, and our minimum wage is less now (in buying power) than it was then. So what would make China so special ?

China is already seeing large wage growth and their consumption is already shifting towards high end goods that the US can supply. The average wage in China is not as nearly important as the number of people in China demanding goods and services that the US can produce competitively.

China is special because they are big and they are growing fast. You made the thread about change which means you don't look at what the world is today but how it is changing. You then target that change.

The obvious considerations are producing for US consumers, producing for European consumers, producing for Asian consumers, or producing for other smaller groups. The US should be trying to make inroads everywhere it can but IMO our best hope is China and our second best hope is Europe.

 

[CrusaderFrank]

1. Elect a President who believes in American exceptionalism and understands the benefits of entrepreneurial capitalism

2. Repeal ObamaCare, eliminate restriction on insurance companies selling policies across state line, add a robust Medical Savings account that people own and can transfer the unused portion on to their estate

3. Cut Capital Gains tax to 10%; cut individual and corporate taxes by 35%

4. Eliminate the Federal Department of Education, let the states figure out education, our current system is a guaranteed fail

5. Consolidate Fannie and Freddie, sell their entire Single Family Home portfolio. Let the consolidated agency continue to underwrite multifamily mortgages

6. Build Keystone Pipeline, permit LNG Processing facilities ASAP

 

[Spiderman]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Let people keep more of their own money.

 

[Bombur]

1. Elect a President who believes in American exceptionalism and understands the benefits of entrepreneurial capitalism

2. Repeal ObamaCare, eliminate restriction on insurance companies selling policies across state line, add a robust Medical Savings account that people own and can transfer the unused portion on to their estate

3. Cut Capital Gains tax to 10%; cut individual and corporate taxes by 35%

4. Eliminate the Federal Department of Education, let the states figure out education, our current system is a guaranteed fail

5. Consolidate Fannie and Freddie, sell their entire Single Family Home portfolio. Let the consolidated agency continue to underwrite multifamily mortgages

6. Build Keystone Pipeline, permit LNG Processing facilities ASAP

1) So an emotional thinker who bases policy on nonsense?

2) I actually agree that healthcare in this country will improve if we shift away from relying so heavily on insurance and rely more on savings accounts. The inability to put downward pressure on prices is a big problem. Obamacare is not perfect but if you are getting rid of it I would prefer it be replaced by a more comprehensive plan as opposed to a patch on a broken system.

3) I agree with cutting corp tax rates but we should raise capital gains tax rates.

4) The federal department of education should be used to create tools all schools can use. In the information age the federal government can leverage their size to do great good.

 

[AquaAthena]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Tax cut AND a spending cut.

Then stand back and watch America get back to working.

Tax cuts WITHOUT spending cuts is what W did.

That doesn't work.

Tax cuts WITH spending cuts does work.

Yes, for it surely isn't those 80,000 pages of 2013's new rules and regulations and notices, that stifle, then kill jobs. NOOOO....

 

[CrusaderFrank]

1. Elect a President who believes in American exceptionalism and understands the benefits of entrepreneurial capitalism

2. Repeal ObamaCare, eliminate restriction on insurance companies selling policies across state line, add a robust Medical Savings account that people own and can transfer the unused portion on to their estate

3. Cut Capital Gains tax to 10%; cut individual and corporate taxes by 35%

4. Eliminate the Federal Department of Education, let the states figure out education, our current system is a guaranteed fail

5. Consolidate Fannie and Freddie, sell their entire Single Family Home portfolio. Let the consolidated agency continue to underwrite multifamily mortgages

6. Build Keystone Pipeline, permit LNG Processing facilities ASAP

1) So an emotional thinker who bases policy on nonsense?

2) I actually agree that healthcare in this country will improve if we shift away from relying so heavily on insurance and rely more on savings accounts. The inability to put downward pressure on prices is a big problem. Obamacare is not perfect but if you are getting rid of it I would prefer it be replaced by a more comprehensive plan as opposed to a patch on a broken system.

3) I agree with cutting corp tax rates but we should raise capital gains tax rates.

4) The federal department of education should be used to create tools all schools can use. In the information age the federal government can leverage their size to do great good.

I stopped reading after you called entrepreneurial capitalism "nonsense"

Have a nice day

 

[Bombur]

I called "American exceptionalism" nonsense.

The idea of having a President understand "entrepreneurial capitalism" is such a vague and meaningless point I hardly felt it was worth commenting on.

 

[Mr Natural]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Let people keep more of their own money.

So they can buy more shit made in China.

 

[Mojo2]

That's the question >> How Can America Create Jobs ?

If anyone thinks they have an answer (or answers) for it, let's hear it.

Tax cut AND a spending cut.

Then stand back and watch America get back to working.

Tax cuts WITHOUT spending cuts is what W did.

That doesn't work.

Tax cuts WITH spending cuts does work.

How will this create jobs ?

Tax cuts = Increased Business Investment = More Jobs = More Consumer Spending = Greater Tax Revenue

JOHN F. KENNEDY ON TAXES

Editor’s note: The following quotes are published in the book, “The Interesting History of Income Tax,” by William J. Federer (Amerisearch, Inc., P.O. Box 20163, St. Louis, MO 63123, 1-888-USA-WORD)

“It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now … Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

– John F. Kennedy, Nov. 20, 1962, president’s news conference

“Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government.”

– John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964

“In today’s economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarges the federal deficit – why reducing taxes is the best way open to us to increase revenues.”

– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”

“It is no contradiction – the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by major reduction of individual income tax rates.”

– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”

“Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort – thereby aborting our recoveries and stifling our national growth rate.”

– John F. Kennedy, Jan. 24, 1963, message to Congress on tax reduction and reform, House Doc. 43, 88th Congress, 1st Session.

"A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues.”

– John F. Kennedy, Sept. 18, 1963, radio and television address to the nation on tax-reduction bill

“I have asked the secretary of the treasury to report by April 1 on whether present tax laws may be stimulating in undue amounts the flow of American capital to the industrial countries abroad through special preferential treatment.”

– John F. Kennedy, Feb. 6, 1961, message to Congress on gold and the balalnce of payments deficit

“In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.”

– John F. Kennedy, April 20, 1961, message to Congress on taxation

“Our present tax system … exerts too heavy a drag on growth … It reduces the financial incentives for personal effort, investment, and risk-taking … The present tax load … distorts economic judgments and channels an undue amount of energy into efforts to avoid tax liabilities.”

– John F. Kennedy, Nov. 20, 1962, press conference

“The present tax codes … inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.”

– John F. Kennedy, Jan. 23, 1963, special message to Congress on tax reduction and reform

“In short, it is a paradoxical truth that … the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country’s own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

– John F. Kennedy, Nov. 20, 1962, news conference

“The largest single barrier to full employment of our manpower and resources and to a higher rate of economic growth is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive.”

– John F. Kennedy, Jan. 24, 1963, special message to Congress on tax reduction and reform

“Expansion and modernization of the nation’s productive plant is essential to accelerate economic growth and to improve the international competitive position of American industry … An early stimulus to business investment will promote recovery and increase employment.”

– John F. Kennedy, Feb. 2, 1961, message on economic recovery

“We must start now to provide additional stimulus to the modernization of American industrial plants … I shall propose to the Congress a new tax incentive for businesses to expand their normal investment in plant and equipment.”

– John F. Kennedy, Feb. 13, 1961, National Industrial Conference Board

“A bill will be presented to the Congress for action next year. It will include an across-the-board, top-to-bottom cut in both corporate and personal income taxes. It will include long-needed tax reform that logic and equity demand … The billions of dollars this bill will place in the hands of the consumer and our businessmen will have both immediate and permanent benefits to our economy. Every dollar released from taxation that is spent or invested will help create a new job and a new salary. And these new jobs and new salaries can create other jobs and other salaries and more customers and more growth for an expanding American economy.”

– John F. Kennedy, Aug. 13, 1962, radio and television report on the state of the national economy

“This administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes … Next year’s tax bill should reduce personal as well as corporate income taxes, for those in the lower brackets, who are certain to spend their additional take-home pay, and for those in the middle and upper brackets, who can thereby be encouraged to undertake additional efforts and enabled to invest more capital … I am confident that the enactment of the right bill next year will in due course increase our gross national product by several times the amount of taxes actually cut.”

– John F. Kennedy, Nov. 20, 1962, news conference

John F. Kennedy on taxes

 

[protectionist]

In 50 years, I'll be dead, so I'm not too concerned, but what makes you think China will have a massive consumer economy ? Why would the less than $2/hour (in US dollars) that Chinese workers make now be any higher 50 years from now ? In our case (USA), our real incomes have shrunk since 50 years ago, and our minimum wage is less now (in buying power) than it was then. So what would make China so special ?

China is already seeing large wage growth and their consumption is already shifting towards high end goods that the US can supply. The average wage in China is not as nearly important as the number of people in China demanding goods and services that the US can produce competitively.

China is special because they are big and they are growing fast. You made the thread about change which means you don't look at what the world is today but how it is changing. You then target that change.

The obvious considerations are producing for US consumers, producing for European consumers, producing for Asian consumers, or producing for other smaller groups. The US should be trying to make inroads everywhere it can but IMO our best hope is China and our second best hope is Europe.

1. The wages in China ARE important when you are talking about have China be a "market". China has far more people that the USA does, but Chinese sellers look to the US market to sell to because the large Chinese population doesn't have the money to buy their stuff. They don't go through the trouble of shipping because they like boats.

2. You still haven't answered my question of what makes you think China will have a massive consumer economy ? Why would the less than $2/hour (in US dollars) that Chinese workers make now be any higher 50 years from now ?

 

[Bombur]

JFK, the final say in economics!