Comments by "coolmodelguy" (@coolmodelguy6304) on "Fox Business"
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@ronpage101 - No state will offer an escape, it is too late for that. I hope you understand that eliminating state taxes is a tasty bait, meant to lure and hook an unwary public. What happens after a state has reduced their income? It cuts funding and allows private interest to take over government run assets. Long and short, the tax bill for the state will be borne by paying higher costs to private corporations, for any number of previous government functions. This makes asset owners wealthy. Just this year, the value of asset ownership has increased by $9.9 trillion, in great part since government functions are being turned over to the "private sector". By the way, $9.9 trillion is more than 2/3's of our nations entire economic output for the year so far, all going into the pockets of already wealthy people.
Are you are worried about what the democrats are doing in California? Worry instead about what all politicians are doing, because they don't work for us anymore. Just ask yourself, how is it possible that "profits" on asset values this year, is greater than 60% of our entire economic output? We were all set up, in a game where wealth grows faster than the economy. It is a rigged game, and also a house of cards.
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@javieremoya - I also appreciate civil discussion, and I do appreciate your candor. I am 58 years old and until I was 55, I thought I was up to date on national, international, and economic events. Turns out, I was not. For the past three years I have been doing some pretty deep research, at first it was just into the economy of the present, but the research took me back decade by decade until I was into a time period around the first world war.
Just so you know, the Great depression was a direct result of both industrial and financial deregulation brought on by the three republican presidents Harding, Coolidge and Hoover. In addition to deregulation (which brought on rampant speculation in the latter half of the 1920's, leading to the crash), Hoover tried to help the economy through tariffs (sound familiar?), which failed with disastrous results.
Right after FDR was elected, he had to choose from three alternatives. 1) a workers revolt, which could cause the USA to go the direction of Russia, 2) allow the USA to follow a fascist path by melding the government into business interests, or 3) try the new Keynesian economic model where the government became the employer if business was unwilling or unable to employ the population. The corporate and wealthy interests were so unhappy with FDR's choice, they tried to overthrow the government (The Butler Rebellion of 1933) and assassinate FDR. The attempted coup d’état participants included the DuPont's and the father and grandfather of our Bush presidents, Prescott Sheldon Bush.
I am going to differ with you over being in a desperate time. Right now, the top 20% of the global population owns 94.5% of all wealth. There is no room now to grow, because the bottom 80% has no money to spend in order to grow the economy. Furthermore, in the USA the top 20% hold so much in financial assets, just the interest paid to them is over 13% of GDP, which is far greater than GDP growth. To put it another way, the top 20% are stripping wealth from the bottom 80% just in order to get "free money". Just to illustrate how unsustainable our present course is, take one penny at 5% interest from the time of Jesus Christ to the year 1750, the result would be 150 earth size globes of solid gold. What we are doing now with the economy will ruin us all.
With regards to guns, you must look carefully at the wording of the 2nd Amendment. It says nothing about firearms . . . . and what it does say are the words "well regulated". The founders had never seen a repeating rifle, nor a cartridge or even a bullet, because those things had not yet been invented. They had muzzle loading muskets and pistols back then, one shot per barrel and the projectiles were balls, that is where the word "rounds" came from. The 2nd Amendment has been bent out of shape, mainly because by doing so, it diverts attention away from other, more important issues. As a gun owner, I want well regulated ownership laws, including passing a mandatory safety exam and I want gun owners to be licensed, just like how we are licensed to drive a car. None of that is unreasonable, and all of it will cut down on the one million who die every 25 years in the USA from guns.
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@norsefalconer - When I finished reading "Confessions of an Economic Hitman" by John Perkins, I was appalled and beside myself with apprehension. I had no idea that U.S. foreign policy had gotten so corrupted . . . or why. Then I started coming across segments of speeches given by U.S.M.C General Smedley Butler in the 1930's. I have not yet read his book, "War is a Racket", but I listened to General Butler describe that he and others in the military were essentially being used as "High Class Muscle" to strong-arm countries into letting in U.S. Corporations to plunder that country's natural resources. I have also listened to Eisenhower's departure from the Presidency speech where he warned us about the "military/industrial complex.
When I was a lad and a young adult, I could not be prouder of being an American. This attitude started to erode in my forties. When I was 55, shortly after Trump was elected, I decided to do my own in depth research project into our economy. That has been one very frightful voyage. I had no idea that we as a country were so corrupted,and it explained a lot about why we are so disliked around the world. It took John Perkins book to stitch all the parts together though, there is a small element in our country that has turned us into the thieves, pillagers and looters of the globe. We must put an end to this, and that means taking on our own establishment on both sides of the political spectrum.
I'd like to read your opinion on the following. Please feel free to agree or disagree with any part . . . only by doing so can we really get a cross-partisan dialog going which MIGHT be able to save our nation before it collapses.
We need six major reforms in the USA, 1) disband the Federal Reserve and put currency control back into the hands of Congress, 2) put the U.S. Treasury under the control of Congress, 3) eliminate fiat currency by once again tying U.S. currency to a gold standard or a combination of precious metals, 4) put a hard cap on accumulated wealth at $10 million per adult and strictly enforce inheritance and family wealth distribution laws to keep the cap in place 5) put a hard cap on how much cash or accumulated profit any corporation can hold, and finally . . . 6) eliminate overseas holdings and non-domestic ownership holdings for U.S. citizen individuals and U.S. registered corporations alike , all holdings must be inside the USA. This means the elimination of multi-national corporations.
Global trade is necessary. Trade should be accomplished through currency exchange, not just the U.S. Dollar. The same set of criteria should be applied to all countries across the globe.
Looking forward to reading your response.
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Lehandra, I hope you understand that eliminating state taxes is a tasty bait, meant to lure and hook an unwary public. What happens after a state has reduced their income? It cuts funding and allows private interest to take over government run assets. Long and short, the tax bill for the state will be borne by paying higher costs to private corporations, for any number of previous government functions. This makes asset owners wealthy. Just this year, the value of asset ownership has increased by $9.9 trillion, in great part since government functions are being turned over to the "private sector". By the way, $9.9 trillion is more than 2/3's of our nations entire economic output for the year so far, all going into the pockets of already wealthy people.
You are worried about what the democrats are doing? Worry instead about what all politicians are doing, because they don't work for us anymore. Just ask yourself, how is it possible that "profits" on asset values this year, is greater than 60% of our entire economic output? We were all set up, in a game where wealth grows faster than the economy. It is a rigged game, and also a house of cards.
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@beautifully_scarred_lea - I'm glad that we are seeing the same thing, even if through different lenses. I am going to make a blunt observation here, about myself. I am a 60 year old white male. For my own reasons, I started an in depth project to study the economy, starting a little over five years ago. This study project started with the U.S. economy, then expanded. What I have learned can be distilled into this very simple formula: we humans still live in a "might makes right" world. Unless we can change that, our species will not last another century. You are completely correct, we are ruled by the few who take everything and give nothing back, making them true pirates. Here is where I differ with you. I believe small government allows these elites to make all the rules we must live by, so I believe we need big government. However, the government we have now is staffed by those hand picked by the elites, for example I give you Joe Biden. The people wanted Bernie Sanders and he was winning, then over the course of a single weekend everything changed as the elites pulled on their puppet strings and pushed the loser Joe Biden into the winners circle.
If we are to make a difference and save our own species from extinction, we are going to shove all elites out of power. I am now well versed in economic particulars, so what I can tell you is that unlimited grown happens nowhere in our universe. No tree, no mountain and indeed no star is able to sustain infinite growth. Neither can our machines attain infinite size and growth. Larry Kudlow will tell you that money, wealth and the economy CAN have infinite growth, my reply is "sure it can, until it cannot". The "cannot" part is when it all collapses. This year alone, financial assets gained $14 in value for every $1 in economic growth, setting a new record. Our economy cannot sustain that kind of growth, has not been able to for decades, which means our collapse is coming up soon.
The only chance we have, is to take over the government ourselves and use it to regulate morbidly obese wealth out of existence, having the effect of making the elites the same as all of us. A small government cannot do such a task.
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@javieremoya - Ok, lets examine what you wrote. You are saying that conservatism means change at a slower pace. Well then, over the past forty years change has occurred at a slow pace, and what change has been wrought has not been for the better. You say that AOC is radical, yet it is both the democratic and republican parties that have become radical, abandoning the people and putting the interests of the corporations and the wealthiest among us, in front of the people. AOC is advocating for returning us back to a more sensible system of government, like what FDR did for us, which is repairing the damage done by the three republican presidents of the 1920's. Finally, you used the "literally force people to change" . . . . what is it that you think has been happening over the past 40 year? We have been forced to change into a war mongering, corporation run country where we threaten half the countries on the planet! If anything AOC represents true conservatism, not this corporate/oligarchy run monopolistic power hungry system we have now.
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