Tuesday, July 03, 2012

Economic Information



http://forum.prisonplanet.com/index.php?topic=105934.40


Guess you don't understand the difference between Communism and regulation. Communism actively decides what industry should make, no matter the actual demand. Therefore, you get oversupply and undersupply. Regulation does not control the output of industry. It simply levels the playing field. Monopolies should be regulated. Food companies that serve poisonous food to uninformed people should be outlawed. People should have some insurance for their money so they don't make a run on their banks.
Ms Julie, you are so young, so naive, and so arrogant. You think you know it all. Anyway, what you speak of as "economic freedom" is Laissez Faire. It's the purest form of capitalism. Laissez faire is impossible with current human behavior. The result of it would be huge economic swings up and down (already been tried). This does not instill confidence in the rest of society. Therefore you need SOME dampers on the economy. The national govt is usually the best able to impart these controls.
I'm not a fan of the central bank of the USA, but don't use that as an excuse to not hold bankers accountable for their high crimes. That argument is absolutely horrid and shouldn't be pursued by any rational people any longer.
I'm sure you're familiar with Paul Krugman (though not likely a fan, especially after Ron Paul branded him "a socialist") who says that the wealthiest in the United States NY Times article November 27/28th - "Things to Tax" - might be able to help the rest out. Now, a one hundred percent income tax would be disastrous, as you say, however a seventy percent marginal income tax rate - a la 1980 - would close the federal deficit AND then some, to allow more of the debt
To be paid down, faster. As to your question of the fair share of the most affluent, the whole of the American populace should evaluate their needs and be able to adjust excise taxes, sin taxes, value-added taxes and any other taxes accordingly. To pay for free college - or, as we say up North 'university' - education and a public health insurance option and plug the deficit hole, fifty percent is approximately what one economist says is needed.
Finally, as a proud leftist, I've been meaning to ask someone of your persuasion a particular couple of questions. Those on the right - perhaps more so conservatives than libertarians - claim that equality of outcome would be and is a horrendous idea, although equality of opportunity is something they stand for. In your ideal libertarian United States, does a child born into a low income household truly have the same choices as one born of millionaires or billionaires?
Shouldn't the estate tax at least remain progressive and in place? If the wealthy simply pay no taxes during their lifetime and none when they die, won't there be accumulation, concentration of capital after several generations? Wouldn't this lead to monopolies anyway?






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