very disturbing economic talk

[ensho]

http://blog.atimes.net/?p=415


Bill Gross is ignominiously wrong (sort of) — so what is an investor to do?

-snip-

US Municipalities and states will have to break unions, expel illegal immigrants, cut wages and services and generally make life miserable for everyone dependent on them during the next year. They will need an set of cliff-hangers in order to force policemen, firemen, teachers and healthcare workers to admit that they simply will have to be poorer than they were during the past few years. The UAW’s chicken game with General Motors will play out with the public employees’ unions all over the country. Gross is right (I think) that bigger states and cities will not be allowed to fail, although perhaps one might be pushed over the edge, after the fashion of Lehman Brothers, in order to make the rest behave. It won’t be New York or California: they are too big to fail. Michigan, perhaps?
-snip-
----------------------


jeez

[billyoc]

1. Taxes and tariffs on businesses.

Don't like it? Go peddle your shit in Burkina-Faso.

[Veritas_et_Aequitas]

4. Naw. If we do a blanket tax like that we're hurting small businesses more than large ones.

Significantly raising the income tax on the top 1% or so would do wonders for infusing the government with some much-needed funds, however.

[billyoc]

5. They don't pay income tax.

And I don't see small business owners lined up at the food pantry.

[Veritas_et_Aequitas]

7. Businesses do pay income tax.

Besides what we need is to close existing loopholes in the existing tax codes and increase the income tax for the top 1% of individuals. That would drum up revenue.

I don't know what your vendetta is against all business everywhere, but you might want to check your facts before lambasting an entire segment of the population. Otherwise it would be like deriding all Palestinians for the actions of Hamas or the like.

[billyoc]

9. The top 1% pay no income tax. Do some research.

Vendetta? Lambasting? HAMAS?!!

Fuck off.

[Veritas_et_Aequitas]

2. Well, yes, that would work to bring the budget back in line, but it would be like taking a tire iron

to our standard's of living kneecaps.

I think we're going to see wage decreases soon, resulting in a true deflation rather than a price drop. This would more likely result from unions working with management to lower the wages of new hires and renegotiate some benefits rather than a summary decimation of the public and manufacturing sectors. We're already seeing the start of this trend in plants where workers are volunteering to take fewer hours rather than go through layoffs.

[villager]

3. Shouldn't we let a Red State go first?

I mean, they don't need government anyway, right?

[tazkcmo]

6. Excellent idea!

Fire all police, firemen, public school teachers, legislators, municipal workers and anyone that gets a government check of any kind-In Texas. Government, after all, is not the solution, it's the problem!

[spinbaby]

8. Are you channeling Reagan?

:wow: