Comments by "" (@jmitterii2) on "David Pakman Show"
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Only reason shit head got elected, and same with shit head lady in the DNC, so many don't vote. 7% are all that participate in primaries, insanely grotesque sometimes due to state laws that are idiotic like NY. But even Idaho, where you can show up and register at the caucus or primary people don't bother. Disenfranchisement has been a success via the oligarchy, make the mass of people feel like peasants, and they will act as peasants.
All representative and democratic forms of government end when turn out stinks.
45% didn't bother to vote in last presidential election, and 63% in the last midterms.
The idiot stupid then have a greater push toward stupidity.
Seriously, those comments are a minority ignorant and nuts you can find anywhere, but for the wisdom of the crowds to work, for democracy to work, all people available must vote.
Otherwise you get the idiocy of the crowds and the following misery that comes therewith.
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I know that's not what they would do with the savings. All for profit business don't pay employers that way, they either have to collectively bargain in unions, 6% of labor currently. Or 94% of wages/salaries, they look at other businesses and similar positions and say that's the market wage/salary a form of collusion, and that's all they will pay. They don't share profits. And when they do they tie that sharing back as a percentage of your wage/salary, like 1% to 5% for wage/salary workers at the middle and low range.
Businesses pocket 90% of profits. They do not share them as wages/salaries.
Case in point a water company with a cash cow monopoly in our area revenue 2016 was 46 million. Total compensation to current employees 2.1 million. Pensions were 1.6 million. 3.7 million paid out in total compensation to retirees and current workers; this includes uniforms and insurance premium, 401K contributions, etc.
Their profits were 16 million after all other expenses were paid including total employee and retiree compensation, business operations, and increased capital expenses (building more wells and upgrades). 34% more than a 1/3 in profit margin. Total compensation is only 8% of expense of total revenue.
Companies don't pay wages/salaries based on their profits. They pay only based on what they can get away with as they observe others paying for similar positions. So there likely won't be any increase in wages/salaries via a corporate tax cut to wages/salaries. Simply that isn't how businesses determine employee pay and compensation.
All savings will be added to profits which are paid to shareholders (owners) of the business. This is basic finance and business management.
If it were the case corporate tax rates lowering saving trillions over the past 40 years, should have increased wages/salaries by double their current median income. But we have actually seen such wages flat, and the lower quintiles fall. It's not even a theory/hypothesis on paper, nor is it an observational phenomena; in fact, you could make the claim based on observation that salaries and wages actually drop, but that's not directly related to the flat and falling wages. That has to do with trade with despotic and/or chronically corrupt nations using their serf labor to offshore production, and falling union participation made easier by so called right to work legislation that makes forming or maintaining unions next to impossible.
In the case of the water company in our area, if they were to actually share profits, just another 8% of total revenue, so increasing employee and retire compensation from 8% to 16%, making 3.7 million into 7.4 million, their profits of 16 million they're sharing 3.7 million leaving still 12.3 million in profits, they could double everyone's wages and pension pay out for that year.
They don't do that. They keep all profits for shareholders. And its not small, as you can see from this example if they actually just doubled their compensation as a share of profit, they still retain 76% of the profits which is 3.3 times total retiree and active employee compensation. What they don't pay out is 4.3 times total retiree and active employee compensation. Meaning they have over 4 times all compensation they pay out; they could pay employees 4 times everyone's wage/salary, this includes CEO pay, utility workers, supervisors, to the janitor and customer service rep and billing rep. But they don't. They retain those as profits.
Workers are a cost to a businesses. Just as other inputs from paper, pipes, tractors, truck leases, etc. You're a cost. Not an asset. That's the system we have. It's ECON, MGMNT, FINAN 100 or 90 not even 101.
A corporate tax deduction doesn't increase wages/salaries of workers. Only using the Laffer curve, if the effective tax is over 77%, businesses may not grow as fast, thus not have need to hire more people and produce more goods/services thus generate more tax revenue, effective tax just under 77% business will retain the ability to grow whenever the quantity demanded is apparent for them, but at or below this rate will have a diminishing tax revenue effect, not an increase in tax revenue.
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Sometimes I just give up, not just on political dumb people, but on all subjects. I just listen in amusement, and only talk when they ask for my input. Sometimes claims being made by the person is so uninformed full of ignorance it's hard not to hold back point by point... I don't think of them dumb, just confused... we're not all knowing and we forget or get things jumbled.
What I do dislike though is claims positioned as if they know much about the topic, when evident they know nothing, but what comes out of comic books, cartoons, and well known dogma talking points, or just out of their own butts.
A coworker I like quite a bit, good guy, started conversation about how dinosaurs might have existed along with humans, that carbon dating fossils isn't that reliable. I had no idea where he was going, just kept working and listening, particularly he was closer to another coworker than I so wasn't sure if he was even talking to me. Until he asked my opinion about the subject. I was busy and about to end my shift, so I quickly went through several bullet points of the many methods that are used in dating anything... but I started of with agreeing with him on the carbon dating fossils... I said something to the effect, Well carbon dating fossils is not reliable because you can't do it, fossils are mineralized remains and/or impressions, there isn't any carbon left from when the biological specimen was alive. Instead you use other forms of radio-metric dating, and any dating it is desired to use as many as possible depending on the minerals of the fossil. I explained how carbon dating and other radio metric dating works thus it's limitations, can't use on marine animals since they don't accumulate (eat and breath) as much atmospheric CO2 to have the same level of carbon 14 so you get skewed and often very wrong dates if you do. That you must consider the mineral of the fossil to determine the best radio metic dating methods, and do more than just one type of radio dating if possible.
Most importantly that archaeologist use other methods like tree ring dating, rock layer dating (KT boundary above no dinosaurs but large mammals including humanoids, below KT boundary no large mammals and dinosaurs), chemical layer dating, for younger things not fossilized one can use genetic dating methods, etc. These dates converge and agree on a narrow date range. The key is using as many methods of dating any specimen as possible as each method converges on a date eliminate margin of error. If any one of them is wrong, the others will point this out.
Most important, is be nice, and explain why it is you know something they may not know, and biggest importance how to look up sources. The ability to discern fact from fiction is the biggest problem we have today, people don't know how to be proper skeptics or scientists.
He did seem a little flustered though, his last comment was I don't think scientists know as much as they think they do. I said, nope. That's why various studies are constantly researching and experimenting and measuring. And as data comes in, one can be more as certain as possible particularly with completely different methods that converge on the same results. Science is the only method that provides any level of certainty in discernment on reality. No other method exists, no other method likely exists that does as good a job as the scientific method.
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This guy goes from asking questions and responding like some bumpkin from dip shit-ville to flat out crazy nut job cult fuckery. WTF would you even bother wasting your time with this nut job???
And a side note, this fuck head hasn't a clue how our legal system works... accusations require probable cause not innocent until proven guilty... investigations begin initially when police or other investigator finds probable cause to launch an investigation, warrants maybe issued by a judge when such investigations begin, then a Grand Jury decides based on probable cause, not on presumed innocent until proven guilty, if found probable cause the person is indited to a trial jury, and so that only evidence maybe used to determine guilt, the indited should be considered not guilty until the evidence is provided in making their final judgement on guilt, that the burden of evidence is on the prosecutor foremost.... null hypothesis.
Anyway, this guy was a wacko, similar freaks you find in any major city wandering the streets talking to dumpsters, fire hydrants, and passing out pamphlets that describe how the voices in their head are trying to help you somehow.
He makes uncle Ruckus on Boondocks look sane... and that character was nuts.
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Not sure why he wants to talk about Greece, they have an even lower min wage of $5.13 an hour equivalent, and Greece works even harder than we do at 2,035 hours per person; this takes in account by subtracting vacation and holiday pay. US 1,783 hours a year.
If you only worked 8 hours a day 5 days a week all year we get 2,080.
In fact, 2012 Greece lowered their min wage to $6.58 an hour equivalent. And their economy over the past 5 years, 2 year after lost another 8% of GDP. Greece median income has fallen from almost 1,350 Euros a month to under 1,110 Eu or $1623.51 USD to $1,334 USD a month.
The US has a higher min wage, but better overall median wage and while sluggish better improvement economically than Greece which never had a very decent economy for workers in the first place. They have already been making less for more work. Hence why so many Syrian refugees pass through Greece, as well as some other places, its kind of an economic crap hole before they faced the real estate collapse. Now its even worse.
To put in perspective median individual income of $31K a year in the use or $2,392 a month compared to Greece's $1,334 a month; our individual median income is about twice Greece's. Their economy in general has always been lousy. I wouldn't use their practices which have been more libertarian right winger than ours.
Greece's only "advance" economic structure is free healthcare for those making less than 2,400 euros a month, a little over half the working population. But I don't see us bragging that we have fire departments.
The statistics show lower min wages, lower underlying demand is the biggest factor from being a 2nd or 3rd world failing economy, or being a strong economy.
If there is no underlying demand in the country, it's an economic shit hole that works for low wages barely scrapes by as it exports its way into poverty with a rising entrenched tyrannical oligarchy.
https://stats.oecd.org/Index.aspx?DataSetCode=ANHRS
https://tradingeconomics.com/greece/minimum-wages
https://tradingeconomics.com/greece/wages
https://tradingeconomics.com/greece/wages
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