Consequences of Trump's Win - 4

Up2u
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#271 Re: Consequences of Trump's Win - 4

Postby Up2u » Thu Nov 09, 2017 4:59 pm

Trump is the greatest thing since sliced bread if you want to believe China's "free" press.

https://www.cnbc.com/2017/11/09/trump-v ... media.html

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Gaybutton
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#272 Re: Consequences of Trump's Win - 4

Postby Gaybutton » Thu Nov 09, 2017 5:21 pm

Up2u wrote:the greatest thing since sliced bread

I've never been able to figure out what was so great about sliced bread in the first place . . .

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#273 Re: Consequences of Trump's Win - 4

Postby firecat69 » Thu Nov 09, 2017 6:33 pm

At the moment there is no plan except what is proposed by the House which is a joke. The simplification does not make up for the Billions in tax cuts given to the wealthy who certainly have had enough benefits the last 30 years.

Likewise the lowering of the Corporate tax rate is a joke because the proposal does not take away the the deductions the companies have had for years and have never paid the stated tax rate of 35% but the effective rate of 19%. They would like for companies to pay nothing so the corporate officers and owners could make more billions.

They keep saying this will allow wages to rise. Do they really think we are stupid? Corporations are making more money then they ever have and wages are static. They have not given any of those profits to the workers and they never will.

Jobs will come back. Really. Companies like Ivanka Trump are paying pennies per hour to make their products and they will return and make them in the USA with labor costs 10x as much. That horse has left the barn. Companies are trying to find a way to use robots. Has anyone been in stores recently to see how many check out counters have become self check outs so the stores can do away with more people.

Rather then giving tax cuts to Corporations, we need to find a way to make them share the wealth, instead of corporate officers and stockholders getting all the gains.

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#274 Re: Consequences of Trump's Win - 4

Postby Gaybutton » Thu Nov 09, 2017 7:53 pm

firecat69 wrote:Do they really think we are stupid?

I believe that is exactly what they think. And considering who people elect to office, and then either through indifference or ignorance, support the worst the USA has to offer, thinking we are stupid sounds to me like the right way to describe it.

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#275 Re: Consequences of Trump's Win - 4

Postby firecat69 » Fri Nov 10, 2017 12:13 am

TRUMP the NEW Member of the Communist Party.

Watching him suck up to Xi is disgraceful. How long before we find out about Trump Tower in Beijing?

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#276 Re: Consequences of Trump's Win - 4

Postby Brooklyn Bridge » Fri Nov 10, 2017 8:32 am

The Chinese don't eat sliced bread. They eat steamed dumplings.

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#277 Re: Consequences of Trump's Win - 4

Postby Brooklyn Bridge » Fri Nov 10, 2017 8:53 am

Elementary Marx: class warfare

Capitalism works that way. Capital is movable, labor is not. Money will go where wages are low. The owners of capital will suck every possible advantage from a corrupt political system, then, betray the workers.

If you want wages to rise, raise the minimum wage. Lower income people will but their money directly back into the economy.

Right now, corporations are brimming with cash but it's going to the investor class -- the rentiers -- and the pockets of management. The destruction of labor unions that began with Reagan has taken its toll. A huge gap between the top and the rest of us that has led to political chaos.

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#278 Re: Consequences of Trump's Win - 4

Postby fountainhall » Fri Nov 10, 2017 9:41 am

Brooklyn Bridge wrote:Capital is movable, labor is not.

From the one year of economics I studied at university, I recall Adam Smith advocated the free mobility of labour. Labour will gravitate to where jobs pay more, he argued, and this will lead to an optimal allocation of labour and resources. But Smith was writing just as the Industrial Revolution was starting. A long time ago I moved a long way only because it was to a better and much better paid job. But I was single and young. I agree that nowadays it is far more difficult for families to be uprooted when the breadwinners are older and are stuck with long-term mortgages, community roots and so on. Labour is now far less mobile than it might have been two and a half centuries ago.

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#279 Re: Consequences of Trump's Win - 4

Postby Brooklyn Bridge » Fri Nov 10, 2017 10:16 am

Labour probably wasn't mobile in Smith's day. Witness the horrific industrial slums in Great Britain.

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#280 Re: Consequences of Trump's Win - 4

Postby fountainhall » Fri Nov 10, 2017 1:21 pm

I agree wholeheartedly about the dreadful conditions in most if not all British cities. But Smith was writing just as the industrial revolution was starting and it is surely unlikely that the extremes we all now know about - e.g. children as young as 8 having to work down the mines for 12 hours a day, 7 days a week - then existed. Britain was then much more of a rural society. This also imposed severe hardships on labour but might have made Smith's theory of labour mobility more possible. In our times, though, I cannot believe many economists agree with the theory.


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