Comments by "silat13" (@silat13) on "Greece is Melting Down...is America Next?" video.

  1. THE RICH DO NOT PAY THEIR SHARE Counting income taxes as the sole measure of federal taxation revenue, rather than sales/real estate/etc.. taxes is meant to make it seem like the rich pay more than their fair share. When you factor in those other taxes, the rich, as a percentage of their income, pay less than the poor and middle class. But even if the initial argument weren't deceptive - the top 20% of people in the country have 89% of the wealth. So they should be paying 89% of the taxes. The issue is - they're not paying anywhere close to that. And no, economists aren't saying that tax policy has nothing to do with income inequality. That's a straight up lie. Certain economists that advocate the policies that have led to these taxation issues say that though.
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  2. Robbie Gohn stop being fearful of a debt that is not a problem. DEBT WE ARE NOT BROKE Americans of all political beliefs have been told repeatedly that America is broke, that something must be cut and/or taxes raised or we will drown in debt. While the debt is real, it pales in comparison to the tens of trillions available to us... if we know where to look. In short, America is not broke! The following multi-trillion dollar economic reforms would completely turn the American economy around to the positive, forever. The first three have all been implemented to some degree in our history. All are consistent with American values of competition, fair play, economic and ecological sustainability, meritocracy, profiting from one's own labor, and Lincoln's ideal of an America by, for and of the People. Debt-free Money: Like coins and stamps (for a limited purpose), debt-free United States Notes can be issued by Congress anytime, for any reason, in any amount under the Constitution's Article 1, Sec. 8. Congress did create these original Greenbacks under the first Legal Tender Law (1862) by President Lincoln ($450 million) to fund the Civil War, and they continued through 14 series until 1996. This money would not have to be borrowed, raised in taxes, or backed by gold. It need not cause over-inflation if put toward those sectors that are in deflation. It is a "Public Option for Money." Perhaps $4 trillion, spread over 10 years, could be directed towards infrastructure, or Social Security. Several recent attempts to do this, including Rep. Kucinich's Bill, HR2990, are part of larger reform packages, but we can re-issue U.S. Notes anytime, producing an immediate gain in the government's accounts. Public Banks like the highly successful State Bank of North Dakota (est. 1919) would force state accounts to be invested in State needs, and not in Wall Street speculative gambles -- money which was raised through taxes but then has to be borrowed back, at interest rates of 4-6 percent! The agency and pension funds of most states are invested in risky, often under-performing asset classes, sometimes below investment grade, by managers who charge millions in fees. The Bank of North Dakota manages $4 billion in loans conservatively and constructively. Public Banks can respond directly to community needs and even occasional emergencies in a way that would decentralize the money power, returning taxpayer money to we the people. Multiplied in all 50 states, and at the community level too, and America could save trillions in unnecessary gambles, bailouts, and interest costs. Audit the local, state, and national Comprehensive Annual Financial Reports (CAFRs). There are 10s of trillions of dollars in the 184,000 CAFRs nationwide. These funds, many invested outside the country, could be used to pay a citizen's dividend in perpetuity, ensuring a Basic Income Guarantee (BIG) for every American. There is $600 billion in California's pension fund alone, paying out just 4% a year to pensioners, whose "managers" rake in billions for often under-performing the market, while government acts as both regulator and investor in the Mother of All Conflicts of Interest! We need impartial accountants to comb through the CAFRs and to do so every year, for the benefit of the American people. Repatriate Offshore Accounts -- a new report by the Tax Justice Network shows up to $32 trillion is stored away in offshore accounts, away from tax authorities. These funds are held by the top .001% in private accounts managed by the biggest of the TBTF banks, while their owners live in other places where middle class taxpayers pay for vital services and infrastructure instead. This subsidy for the wealthy is unsustainable and must be ended by repatriating these accounts or taxing them from foreign lands. These are just five places to look for trillions in savings and relocatable funds. There are others. Pick one or find your own. Find out about it. Learn. Become Active. Join a group to effectuate change. Fight. And remember - America Is Not Broke! "America is Not Broke!" by Scott Baker. (http://www.huffingtonpost.com/scott-baker/america-is-not-broke_1_b_1904062.html)
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  3. DEBT EMBRACE DWIGHT "What worked in the past to create working class jobs? Well let's go back and see in our magic time machine. The year is 1956 and we have seen years of growth of the "middle class", The GOP has elected a President (Dwight). Did he slash taxes? No, he didn't. He took the taxes and created the interstate system, that created well paying working class jobs and continued to boost and grow the economy. No problem at all with using income redistribution by the government. The following three Presidents used the same model to fund the biggest research and development program ever. It was called NASA. Minor changes to the tax code during that period, but for the most part the tax code was still the same and was being used to pay down the WW-II debt and invest in job creation and the public good. Then in 1980 the US got suckered (Reagan) into believing that there was such a thing as a free lunch. That the government could CUT their income and that in doing so it would GROW the income. If you read Stockman's book you can see that from the onset those elected to power knew that the Laffer Curve and Supply-side economics were, as George Bush the first said "voodoo economics", but it was what those who were paying for their politicians wanted, and it was those that were paying got. If you want to right the ship of state, then the best way is to go back to what worked before the Plutocracy got their grubby little mitts on the reins of government. Revert to the 1956 tax code and adjust all the dollar numbers for inflation. Invest 1/2 of the new income into job creating projects (ie: rebuild failing infrastructure, start a massive R&D project) and 1/2 to pay off the debt. Problem solved." "Let's give Dwight Eisenhower another chance. Americans allowed his progressive policies to be buried by the GOP for way too long. The Democratic Party should officially adopt him and take Globalization and Reaganomics off life support. Both are brain dead. What kind of nitwits create their own economic competitors overseas putting themselves out of business at home? The economic situation in this country for the past 40 years has been akin to us giving air support to the Third Reich during our invasion at Normandy Beach. Some arguments from the Right are just too stupid to debate any longer. There is no ethical reason to agree with any of their strawmen premises. Republicans have failed at everything they said conservative policies would do. It's time for the US to look out for our country's best interests instead of the greed of a handful of conservative-run multinational monopolies."
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  4. DEBT I always find it heartwarming when another rich man discovers that the money Reagan found (Stole) by fixing the Social Security system will have to be paid back soon. It was never a problem when the money we were 'investing' with our FICA payroll taxes went to lower tax rates on the wealthy and pay for foreign adventure. Now they awaken to the boomers reaching retirement and instead of SS running a surplus the previous surplus has to be repaid, with interest. Druckenmiller, as with Simpson-Bowles before him and now Greenspan, can think of no way to repay seniors, no way at all. So, of course, it will be necessary to declare national bankruptcy and walk away from that particular debt. It makes it easier when we call it a 'transfer payment' or 'entitlement'. Not laughing at Al Gore's 'lockbox' anymore are we? Of course the problem is the FICA taxes were never really invested in any capital accumulation 'in our own name'. No, they were spent on tax breaks for corporations and the wealthy top quintile. They own the capital that grew as a result of our forced savings. It would really be healthy for the American economy for the folks who absconded with our FICA savings to be taken by the heels and shaken until all that loose change falls out of their pockets.
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  5. Detroit (Krugman)- Workers pensions are not the real problem. Overall pension contributions this year will be about $25 billion less than they should be. But in a $16 trillion economy, that’s just not a big deal — and even if you make more pessimistic assumptions, as some but not all accountants say you should, it still isn’t a big deal.  http://www.nytimes.com/2013/07/22/opinion/krugman-detroit-the-new-greece.html?_r=3& Detroit (Reich) - Cons do not want to pay taxes. In other words, much in modern America depends on where you draw boundaries, and who's inside and who's outside. Who is included in the social contract? If "Detroit" is defined as the larger metropolitan area that includes its suburbs, "Detroit" has enough money to provide all its residents with adequate if not good public services, without falling into bankruptcy. Politically, it would come down to a question of whether the more affluent areas of this "Detroit" were willing to subsidize the poor inner-city through their tax dollars, and help it rebound. That's an awkward question that the more affluent areas would probably rather not have to face. In drawing the relevant boundary to include just the poor inner city, and requiring those within that boundary to take care of their compounded problems by themselves, the whiter and more affluent suburbs are off the hook. "Their" city isn't in trouble. It's that other one -- called "Detroit." It's roughly analogous to a Wall Street bank drawing a boundary around its bad assets, selling them off at a fire-sale price, and writing off the loss. Only here we're dealing with human beings rather than financial capital. And the upcoming fire sale will likely result in even worse municipal services, lousier schools, and more crime for those left behind in the city of Detroit. In an era of widening inequality, this is how wealthier Americans are quietly writing off the poor. http://www.huffingtonpost.com/robert-reich/detroit-bankruptcy_b_3629782.html
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  6. Robbie Gohn To be honest I did not have the information and it is not pertinent. I will add it to my copy. So thanks. I am not able to understand what your point is about price increases? That is not because of the so called debt.
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  7. Robbie Gohn You say "it is clearly because the expanded currency supply" Prove that assertion. 
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  8. Robbie Gohn No I did not earn a economics degree. I did graduate college back in the early 70's though. And that was uncalled for. Your example leaves out all the gray areas. If I had narrow vision I would certainly accept your explanation as the end all be all answer. So why do some goods and services not go up as the money supply increases? What about the goods that are commodities that go up and down depending on who is controlling that product? Oil for instance. They will keep tankers full of oil parked just to get the price to increase. How does your currency theory work on that? Why is gas more expensive in Oregon than in another state?  There are many things that happen to bring about a rise in prices. Inflation and interest rates has been low for quite sometime and prices on 'some' products are rising very fast. 
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  9. Robbie Gohn Food. Food prices are up not because of more money in the economy but because of greed, and supply and demand. More people and less food.  Robbie I cannot prove my point anymore than you can. 
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