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RE: 1% own half the world's wealth - 1/25/2015 7:13:43 AM   
freedomdwarf1


Posts: 6845
Joined: 10/23/2012
Status: offline

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: freedomdwarf1
quote:

ORIGINAL: DesideriScuri
What is happening in those offshore accounts and tax havens? Is that money literally just sitting there?

Yes!
It earns money for that individual/company, not the local native economy.
The returns from the investment go straight back to the source.


How is it earning money?

Ummm.... Interest?? Little or no tax on that interest?
Sheeesh Desi. It ain't rocket science!

quote:

ORIGINAL: DesideriScuri
quote:

quote:

ORIGINAL: DesideriScuri
Since we seem to be living in a "global" economy, the effects of money outside the US still does help the US's economy.

Only if those outside the US decide to invest in the US.
If a Chinese billionaire invests their wealth in a Chinese or African project, does it benefit the US or anyone else beyond the investment? No, it doesn't.
It's not a global economy per se, but more of a global collaboration for trade.
If certain people don't invest in the US, the US don't gain a single red cent in taxes, other revenue, or the US economy in general.


Yep, a global "collaboration for trade." Investments in China have created cheaper goods for consumers in the US. Who knew?!?

I'm shocked you're not understanding of that.


Cheaper goods... yes.
But who exactly benefits from the sale of these goods??
The Chinese sellers!! That's who!
They get the profits.
Their postal service gets the majority of the delivery business - and the profits from that.
The US economy gains nothing from those trade agreements.

The only thing the US government get is the sales tax on those things that actually sell in the US.
And given that there is a "Made in America" advertising campaign going on, I don't see the Chinese 'cheap and tacky' sales suddenly rocketing through the roof any time soon.

And... when someone outside of the Chinese borders invests in a Chinese company, they have to be joined with a 50/50 Chinese company to do that (Chinese laws). So the best anyone can do is a 50% return of the profits; and guess where the taxes are collected?? In China - not the US!
And of those companies that do invest overseas, most of them will be using funds from offshore accounts (if they are sensible) to avoid US tax liability.

So the US economy gets very little, if anything, from overseas investment by US companies.
The only advantage that the US economy gets is the ability for Chinese companies to invest in US products.
Given that the cost of labour and services and general overheads are much cheaper in China than anywhere in the western world, I don't see a lot of that likely to be happening anytime soon.

As for the "cheaper goods", by the time the US whack on import duties and taxes for those items, and the fact that most people are aware that Chinese goods are (usually) cheap copycat products of dubious quality (and safety), I don't see a huge market suddenly springing up across the US.


_____________________________

If liberty means anything at all, it means the right to tell people what they do not want to hear.
George Orwell, 1903-1950


(in reply to DesideriScuri)
Profile   Post #: 161
RE: 1% own half the world's wealth - 1/25/2015 8:59:21 AM   
Zonie63


Posts: 2826
Joined: 4/25/2011
From: The Old Pueblo
Status: offline

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: Zonie63
Yes, we do disagree on that. Where we actually disagree is on the idea that capitalists are really that much different than politicians, at least on a global scale.
In the U.S. experience, capitalists have probably been worse than politicians, at least in the sense of understanding right and wrong. No capitalist ever said that slavery was wrong; it took a movement led by citizen politicians (the kind who weren't born with silver spoons in their mouths) to do that. No capitalist ever said that child labor was wrong; it took political actions to end that. It's pretty much the same story for monopolies, anti-trust, environmental regulations, workplace safety, labor rights, minimum wage, etc. - all of that had to be forced by the politicians (who had more big picture concerns to worry about), while the capitalists were kicking and screaming every step of the way.
(In the case of slavery, they fought the most devastating war in U.S. history just to prove a point about how far they're willing to go for money. That is the true face of capitalism.)


Were there no Capitalists, then, in the North?

You are painting all Capitalists with a massive brush.


Just as you have painted "Big Gov" with a massive brush. Just as socialists and liberals have been painted with a massive brush by their political opposites.

But to answer your question, yes, there were capitalists in the North. But it was the Abolitionists who pressed the issue more than the capitalists. Northern capitalists were hardly anyone's idea of "heroes" or "humanitarians." That much is certain. This was especially true during the Postbellum period when the issues of child labor and general working conditions in Northern factories, mines, and railroads gained more attention. It was yet another example of capitalists fighting tooth and nail against any kind of reforms.

It was an especially violent period in our history, with unrest and strike violence in the East, vicious genocide and range wars in the West, and despicable Klan violence in the South - most of it driven by the capitalistic "entrepreneurial spirit" that they keep talking about. It's a period we've since had to try to live down and dissociate ourselves from.

I'm not saying that anyone living today needs to feel any guilt or remorse for the actions of our forebears, but at least we should recognize the difference between right and wrong and give an honest appraisal of the ideals which led to many of the wrongs of our history. Unfortunately, I don't think capitalists nor conservatives have any intention of giving any kind of honest appraisal. Listening to conservative tell it, everything great about America is/was due to capitalism, while everything bad about America is/was due to liberalism, socialism, and/or poor people.

quote:


quote:

Even to this very day, capitalists are still grumbling about these things imposed upon them by "Big Gov," and their actions (such as outsourcing, offshore accounts, etc.) would imply a somewhat spiteful and retaliatory attitude towards America and its people.


There are some things that have been imposed that should not have been (ie. the minimum wage).


As history has shown, some things were necessary because there was no other way to do it. One might well ask why capitalists would stubbornly wait until these things were imposed upon them, rather than taking the initiative on their own. Why do they wait until the peasants are on the verge of storming the Winter Palace before they finally realize that they need to make changes?

The ridiculous irony of it all is that, at least here in America, capitalists have still done quite well for themselves, even with "Big Gov" imposing all these "socialist" ideals upon them. This is why it's hard to take certain conservative notions that capitalists are somehow being "oppressed" in America (or even in Europe for that matter).

I think it's funny that some in this thread are playing the "America-Love-It-Or-Leave-It" card when it's the capitalists who are making the loudest noise in their opposition to America - and proving it by sending their money overseas and using outsourced labor. If America is not good enough for them to invest their money, then maybe they're the ones who should be leaving.

quote:

quote:

quote:

ORIGINAL: DesideriScuri
And, Capitalists tend to have to "answer to the people" (consumers) every day.

Yet they have call centers in India to do the actual answering.


And, do consumers have any recourse because a business has a call center in India?



Yes, consumers have recourse in some instances, depending on the product, service, or industry they're dealing with. But more often than not, it's usually after the damage is done, after the consumer has already wasted his/her money and the capitalist has no intention of giving it back. That is, unless it comes to fighting it out in court, which is why capitalists invest a good portion of their profits in high-priced legal teams who have a distinct advantage in that arena. That's one area where they really, really LOVE "Big Gov," which is yet another irony about capitalism.

(in reply to DesideriScuri)
Profile   Post #: 162
RE: 1% own half the world's wealth - 1/25/2015 10:41:52 AM   
Musicmystery


Posts: 30259
Joined: 3/14/2005
Status: offline

quote:

ORIGINAL: freedomdwarf1


quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: freedomdwarf1
quote:

ORIGINAL: DesideriScuri
What is happening in those offshore accounts and tax havens? Is that money literally just sitting there?

Yes!
It earns money for that individual/company, not the local native economy.
The returns from the investment go straight back to the source.


How is it earning money?

Ummm.... Interest?? Little or no tax on that interest?
Sheeesh Desi. It ain't rocket science!

quote:

ORIGINAL: DesideriScuri
quote:

quote:

ORIGINAL: DesideriScuri
Since we seem to be living in a "global" economy, the effects of money outside the US still does help the US's economy.

Only if those outside the US decide to invest in the US.
If a Chinese billionaire invests their wealth in a Chinese or African project, does it benefit the US or anyone else beyond the investment? No, it doesn't.
It's not a global economy per se, but more of a global collaboration for trade.
If certain people don't invest in the US, the US don't gain a single red cent in taxes, other revenue, or the US economy in general.


Yep, a global "collaboration for trade." Investments in China have created cheaper goods for consumers in the US. Who knew?!?

I'm shocked you're not understanding of that.


Cheaper goods... yes.
But who exactly benefits from the sale of these goods??
The Chinese sellers!! That's who!
They get the profits.
Their postal service gets the majority of the delivery business - and the profits from that.
The US economy gains nothing from those trade agreements.

The only thing the US government get is the sales tax on those things that actually sell in the US.
And given that there is a "Made in America" advertising campaign going on, I don't see the Chinese 'cheap and tacky' sales suddenly rocketing through the roof any time soon.

And... when someone outside of the Chinese borders invests in a Chinese company, they have to be joined with a 50/50 Chinese company to do that (Chinese laws). So the best anyone can do is a 50% return of the profits; and guess where the taxes are collected?? In China - not the US!
And of those companies that do invest overseas, most of them will be using funds from offshore accounts (if they are sensible) to avoid US tax liability.

So the US economy gets very little, if anything, from overseas investment by US companies.
The only advantage that the US economy gets is the ability for Chinese companies to invest in US products.
Given that the cost of labour and services and general overheads are much cheaper in China than anywhere in the western world, I don't see a lot of that likely to be happening anytime soon.

As for the "cheaper goods", by the time the US whack on import duties and taxes for those items, and the fact that most people are aware that Chinese goods are (usually) cheap copycat products of dubious quality (and safety), I don't see a huge market suddenly springing up across the US.


Oh Lord. It's hard to know where to start.

A lot of half-truths and poor causality in that litany.

I have real work to do, so just taking the first one--US consumers who buy that cheap Chinese stuff consistently, that's who. Whether its a good idea is another issue, but they buy more goods for the same income because some of it is cheaper.

After all, Wal-Mart isn't flourishing because of it's superior customer service and exceptional quality. It's low prices.

And people flock to it.

(in reply to freedomdwarf1)
Profile   Post #: 163
RE: 1% own half the world's wealth - 1/25/2015 4:33:50 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: MrRodgers
quote:

ORIGINAL: DesideriScuri
quote:

ORIGINAL: freedomdwarf1
quote:

ORIGINAL: DesideriScuri
What is happening in those offshore accounts and tax havens? Is that money literally just sitting there?

Yes!
It earns money for that individual/company, not the local native economy.
The returns from the investment go straight back to the source.

How is it earning money?
quote:

quote:

ORIGINAL: DesideriScuri
Since we seem to be living in a "global" economy, the effects of money outside the US still does help the US's economy.

Only if those outside the US decide to invest in the US.
If a Chinese billionaire invests their wealth in a Chinese or African project, does it benefit the US or anyone else beyond the investment? No, it doesn't.
It's not a global economy per se, but more of a global collaboration for trade.
If certain people don't invest in the US, the US don't gain a single red cent in taxes, other revenue, or the US economy in general.

Yep, a global "collaboration for trade." Investments in China have created cheaper goods for consumers in the US. Who knew?!?
I'm shocked you're not understanding of that.

And where are all of those jobs magically produced (replaced) so that those who lost theirs...could afford those 'cheap' goods ?


Since the "cheap" goods (there is a difference between cheap and inexpensive, but most of the stuff coming from China is more along the lines of cheap) are already being bought here, and the money is already being hidden, apparently, the jobs are already here to a great enough extent, no?


No those jobs are not here. The fortune 1000 have almost zero manufacturing in the US anymore having exported the jobs, have not created a single net new job in the US since the 60's and US labor has been paying a big price for 'globalization' since the 80's.

It reduces demand for labor here, thus reduces the wages and for over 50 years along with Reagan's war on them, unions have been bargaining to keep what they can rather than more or even enough to even keep up with inflation.

(in reply to DesideriScuri)
Profile   Post #: 164
RE: 1% own half the world's wealth - 1/25/2015 5:06:56 PM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline

quote:

ORIGINAL: hot4bondage

Exactly. He's suggesting that they use some of their own money for the greater good. Pretty much the opposite of Communism. Thanks for clearing that up...


Laughable shit from someone without a clue. He is simply suggesting they might be happier if they helped others, how the fuck you make that a critique of communism is beyond funny.

(in reply to hot4bondage)
Profile   Post #: 165
RE: 1% own half the world's wealth - 1/25/2015 7:08:56 PM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: freedomdwarf1
quote:

ORIGINAL: DesideriScuri
quote:

ORIGINAL: freedomdwarf1
quote:

ORIGINAL: DesideriScuri
What is happening in those offshore accounts and tax havens? Is that money literally just sitting there?

Yes!
It earns money for that individual/company, not the local native economy.
The returns from the investment go straight back to the source.

How is it earning money?

Ummm.... Interest?? Little or no tax on that interest?
Sheeesh Desi. It ain't rocket science!


It's not rocket surgery, either. The financial institution isn't just sitting on that money and paying interest on it. It's using it. So, it's making money, a small portion of which goes back to the owner of the account in the form of interest. Thus, that money is not just sitting there.

quote:

quote:

ORIGINAL: DesideriScuri
quote:

quote:

ORIGINAL: DesideriScuri
Since we seem to be living in a "global" economy, the effects of money outside the US still does help the US's economy.

Only if those outside the US decide to invest in the US.
If a Chinese billionaire invests their wealth in a Chinese or African project, does it benefit the US or anyone else beyond the investment? No, it doesn't.
It's not a global economy per se, but more of a global collaboration for trade.
If certain people don't invest in the US, the US don't gain a single red cent in taxes, other revenue, or the US economy in general.

Yep, a global "collaboration for trade." Investments in China have created cheaper goods for consumers in the US. Who knew?!?
I'm shocked you're not understanding of that.

Cheaper goods... yes.
But who exactly benefits from the sale of these goods??
The Chinese sellers!! That's who!
They get the profits.
Their postal service gets the majority of the delivery business - and the profits from that.
The US economy gains nothing from those trade agreements.
The only thing the US government get is the sales tax on those things that actually sell in the US.
And given that there is a "Made in America" advertising campaign going on, I don't see the Chinese 'cheap and tacky' sales suddenly rocketing through the roof any time soon.
And... when someone outside of the Chinese borders invests in a Chinese company, they have to be joined with a 50/50 Chinese company to do that (Chinese laws). So the best anyone can do is a 50% return of the profits; and guess where the taxes are collected?? In China - not the US!
And of those companies that do invest overseas, most of them will be using funds from offshore accounts (if they are sensible) to avoid US tax liability.
So the US economy gets very little, if anything, from overseas investment by US companies.
The only advantage that the US economy gets is the ability for Chinese companies to invest in US products.
Given that the cost of labour and services and general overheads are much cheaper in China than anywhere in the western world, I don't see a lot of that likely to be happening anytime soon.
As for the "cheaper goods", by the time the US whack on import duties and taxes for those items, and the fact that most people are aware that Chinese goods are (usually) cheap copycat products of dubious quality (and safety), I don't see a huge market suddenly springing up across the US.


So, the US consumers aren't benefiting from goods that cost less? Do tell.


_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to freedomdwarf1)
Profile   Post #: 166
RE: 1% own half the world's wealth - 1/25/2015 7:22:02 PM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: Zonie63
Just as you have painted "Big Gov" with a massive brush. Just as socialists and liberals have been painted with a massive brush by their political opposites.
But to answer your question, yes, there were capitalists in the North. But it was the Abolitionists who pressed the issue more than the capitalists. Northern capitalists were hardly anyone's idea of "heroes" or "humanitarians." That much is certain. This was especially true during the Postbellum period when the issues of child labor and general working conditions in Northern factories, mines, and railroads gained more attention. It was yet another example of capitalists fighting tooth and nail against any kind of reforms.
It was an especially violent period in our history, with unrest and strike violence in the East, vicious genocide and range wars in the West, and despicable Klan violence in the South - most of it driven by the capitalistic "entrepreneurial spirit" that they keep talking about. It's a period we've since had to try to live down and dissociate ourselves from.
I'm not saying that anyone living today needs to feel any guilt or remorse for the actions of our forebears, but at least we should recognize the difference between right and wrong and give an honest appraisal of the ideals which led to many of the wrongs of our history. Unfortunately, I don't think capitalists nor conservatives have any intention of giving any kind of honest appraisal. Listening to conservative tell it, everything great about America is/was due to capitalism, while everything bad about America is/was due to liberalism, socialism, and/or poor people.
As history has shown, some things were necessary because there was no other way to do it. One might well ask why capitalists would stubbornly wait until these things were imposed upon them, rather than taking the initiative on their own. Why do they wait until the peasants are on the verge of storming the Winter Palace before they finally realize that they need to make changes?
The ridiculous irony of it all is that, at least here in America, capitalists have still done quite well for themselves, even with "Big Gov" imposing all these "socialist" ideals upon them. This is why it's hard to take certain conservative notions that capitalists are somehow being "oppressed" in America (or even in Europe for that matter).
I think it's funny that some in this thread are playing the "America-Love-It-Or-Leave-It" card when it's the capitalists who are making the loudest noise in their opposition to America - and proving it by sending their money overseas and using outsourced labor. If America is not good enough for them to invest their money, then maybe they're the ones who should be leaving.
Yes, consumers have recourse in some instances, depending on the product, service, or industry they're dealing with. But more often than not, it's usually after the damage is done, after the consumer has already wasted his/her money and the capitalist has no intention of giving it back. That is, unless it comes to fighting it out in court, which is why capitalists invest a good portion of their profits in high-priced legal teams who have a distinct advantage in that arena. That's one area where they really, really LOVE "Big Gov," which is yet another irony about capitalism.


The only reason government had to get involved was to expedite the changes that people were fighting for. That's it. Some businessperson would have come along and found that it was easy to get top talent by offering a little bonus on top of the hourly wage for working more than "X" hours in a week. Then, competitors would have done the same thing. All that stuff snowballs and filters through the marketplace. Remember back in the mid-00's when McD's and BK were offering $10/hr. wages? I do. It wasn't because the work was difficult or because of a government requirement, or union. It was simply because they couldn't lure enough applicants to fill the positions they needed filled.

That's how it works. Government intrusion will bring about the same changes faster, but that's not always the best idea.


_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to Zonie63)
Profile   Post #: 167
RE: 1% own half the world's wealth - 1/25/2015 7:36:35 PM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: MrRodgers
No those jobs are not here. The fortune 1000 have almost zero manufacturing in the US anymore having exported the jobs, have not created a single net new job in the US since the 60's and US labor has been paying a big price for 'globalization' since the 80's.
It reduces demand for labor here, thus reduces the wages and for over 50 years along with Reagan's war on them, unions have been bargaining to keep what they can rather than more or even enough to even keep up with inflation.


Seasonally adjusted yearly average Total Private Employment (#'s in the thousands; from BLS.gov)
Year Annual
1960 45829
1961 45396
1962 46653
1963 47424
1964 48682
1965 50686
1966 53112
1967 54407
1968 56051
1969 58182
1970 58318
1971 58317
1972 60322
1973 63039
1974 64080
1975 62252
1976 64507
1977 67339
1978 71015
1979 73865
1980 74155
1981 75113
1982 73704
1983 74280
1984 78385
1985 80997
1986 82660
1987 84959
1988 87835
1989 90120
1990 91116
1991 89889
1992 90012
1993 91944
1994 95116
1995 97981
1996 100298
1997 103283
1998 106239
1999 108928
2000 111240
2001 110959
2002 109119
2003 108735
2004 110114
2005 112192
2006 114428
2007 115715
2008 114667
2009 108668
2010 107782
2011 109756
2012 112180
2013 114504
2014 116997

Looks like we've nearly doubled the employment numbers since 1969 (which had the highest average employment in the decade of the 60's). That's quite a few new jobs, isn't it?




_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to MrRodgers)
Profile   Post #: 168
RE: 1% own half the world's wealth - 1/25/2015 9:17:28 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: MrRodgers
No those jobs are not here. The fortune 1000 have almost zero manufacturing in the US anymore having exported the jobs, have not created a single net new job in the US since the 60's and US labor has been paying a big price for 'globalization' since the 80's.
It reduces demand for labor here, thus reduces the wages and for over 50 years along with Reagan's war on them, unions have been bargaining to keep what they can rather than more or even enough to even keep up with inflation.


Seasonally adjusted yearly average Total Private Employment (#'s in the thousands; from BLS.gov)
Year Annual
1960 45829
1961 45396
1962 46653
1963 47424
1964 48682
1965 50686
1966 53112
1967 54407
1968 56051
1969 58182
1970 58318
1971 58317
1972 60322
1973 63039
1974 64080
1975 62252
1976 64507
1977 67339
1978 71015
1979 73865
1980 74155
1981 75113
1982 73704
1983 74280
1984 78385
1985 80997
1986 82660
1987 84959
1988 87835
1989 90120
1990 91116
1991 89889
1992 90012
1993 91944
1994 95116
1995 97981
1996 100298
1997 103283
1998 106239
1999 108928
2000 111240
2001 110959
2002 109119
2003 108735
2004 110114
2005 112192
2006 114428
2007 115715
2008 114667
2009 108668
2010 107782
2011 109756
2012 112180
2013 114504
2014 116997

Looks like we've nearly doubled the employment numbers since 1969 (which had the highest average employment in the decade of the 60's). That's quite a few new jobs, isn't it?




The fortune 1000 didn't create any of those jobs, or if they happened to have been employed there, most of those jobs were ones they hadn't exported yet...or couldn't.

By far most of those jobs are not manufacturing jobs but menial or service jobs which are and have been the leading sectors of jobs and job creation (more often replacement) for almost 40 years.

Additionally, far too many of those jobs do not pay anywhere near a living wage causing many to move down in standard of living, move in with relatives or roommates and seek out govt. assist.

Recall...slaves had jobs. Didn't do them much good did it ?

(in reply to DesideriScuri)
Profile   Post #: 169
RE: 1% own half the world's wealth - 1/26/2015 12:41:57 PM   
Zonie63


Posts: 2826
Joined: 4/25/2011
From: The Old Pueblo
Status: offline

quote:

ORIGINAL: DesideriScuri
The only reason government had to get involved was to expedite the changes that people were fighting for.


Then that begs the question as to why it was necessary for people to fight for those changes. Against whom, exactly, did the people have to fight to get these changes?

quote:

ORIGINAL: DesideriScuri
That's it. Some businessperson would have come along and found that it was easy to get top talent by offering a little bonus on top of the hourly wage for working more than "X" hours in a week. Then, competitors would have done the same thing. All that stuff snowballs and filters through the marketplace.


That's as reliable as the "trickle down" theory which never really came to realization. That's why the country is in the current mess that it's in, since conservative economists and their fellow travelers put too much faith in theories about what they thought some businessperson "would have done." That would bring us back to my question above: Why didn't they do it before it had to be forced upon them, either through government action or through labor unrest or through consumer pressure?


quote:

ORIGINAL: DesideriScuri
Remember back in the mid-00's when McD's and BK were offering $10/hr. wages? I do. It wasn't because the work was difficult or because of a government requirement, or union. It was simply because they couldn't lure enough applicants to fill the positions they needed filled.


Well, sure, if nobody wants to work a job at the offered wage, then an employer may decide to offer a higher wage. Of course, they've also been known to hire people under the table - people who may not be legally allowed to work in this country. A lot of fast-food places came to rely upon the undocumented as a source of labor and did so for many years, but as the government started to crack down more and jacked up the fines and penalties for offenders, a lot of places may have decided it just wasn't worth the risk anymore. So, that may have been indirectly due to a government requirement for proper work docs, although I think we would both agree that that's a government "intrusion" which is appropriate and proper.


quote:

ORIGINAL: DesideriScuri
That's how it works. Government intrusion will bring about the same changes faster, but that's not always the best idea.


Overall, I think that things have worked reasonably well in this country by having a mixed system involving some government control of the private sector, but not total government control. I think that we can find a certain happy medium in that regard, as long as the overall well-being of the country as a whole is agreed upon as the central goal - even if opposing sides may have different ideas as to how to reach that goal.

And it's not just about rewarding laziness or giving slackers a free ride, as several posters have suggested in this thread. Some of it also has to do with national stability and our standing in the world. It would not be a good thing for America if we regressed to that of a second-rate power lagging behind the rest of the industrialized world.

(in reply to DesideriScuri)
Profile   Post #: 170
RE: 1% own half the world's wealth - 1/26/2015 12:47:05 PM   
bigbill92690


Posts: 2
Joined: 4/29/2009
Status: offline
If government is the answer... you are asking the wrong question.

(in reply to Zonie63)
Profile   Post #: 171
RE: 1% own half the world's wealth - 1/26/2015 12:48:35 PM   
Musicmystery


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quote:

those jobs


Well, there are a bunch of other factors before any real conclusions can be drawn from that data.

Key among those factors is the significant increase in population since 1960, and the declining work force participation rate in the last few decades.

(in reply to MrRodgers)
Profile   Post #: 172
RE: 1% own half the world's wealth - 1/26/2015 1:13:09 PM   
freedomdwarf1


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quote:

ORIGINAL: DesideriScuri
It's not rocket surgery, either. The financial institution isn't just sitting on that money and paying interest on it. It's using it. So, it's making money, a small portion of which goes back to the owner of the account in the form of interest. Thus, that money is not just sitting there.

Yes, but the benefits of that money is NOT the US economy - it's the country holding those offshore accounts.
The US economy doesn't see a single red cent of it.
So in that sense, it helps the US not one jot.

quote:

ORIGINAL: DesideriScuri
So, the US consumers aren't benefiting from goods that cost less? Do tell.

I didn't say that.
I said the US economy doesn't benefit from it.
Because.... there aren't that many people that are rushing out to buy the Chinese cheap tat.
And, there aren't that many Chinese investors actually investing in US products and businesses either.

Most of the trade in these agreements are for the likes of GM and Ford to sell more cars to China.
The Chinese import taxes and sales taxes go to.... the Chinese treasury, not the US treasury.
And because those sales are 'export' sales, they don't attract any US treasury taxes either.
The companies make more sales, yes; but not much of that finds its way to the US treasury.


Your posit would work well if sales and taxes went back to the US, but they don't.


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(in reply to DesideriScuri)
Profile   Post #: 173
RE: 1% own half the world's wealth - 1/26/2015 1:21:42 PM   
Musicmystery


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quote:

there aren't that many people that are rushing out to buy the Chinese cheap tat.


Actually ... there are.

China was the United States' largest supplier of goods imports in 2013.

U.S. goods imports from China totaled $440.4 billion in 2013, a 3.5 % increase ($14.9 billion) from 2012, and up 189% since 2003. It is up 331% since 2001. U.S. imports from China accounted for 19.4% of overall U.S. imports in 2013.

The five largest import categories in 2013 were: Electrical Machinery ($117.5 billion), Machinery ($100.4 billion), Furniture and Bedding ($24.1 billion), Toys and Sports Equipment ($21.7 billion), and Footwear ($17.0 billion).

U.S. imports of agricultural products from China totaled $4.4 billion in 2013, the 3rd largest supplier of Ag imports. Leading categories include: processed fruit and vegetables ($973 million), fruit and vegetable juices ($542 million), fresh vegetables ($214 million), and snack foods (including chocolate) ($195 million).

U.S. imports of private commercial services* (i.e., excluding military and government) were $13.0 billion in 2012 (latest data available), up 12.3% ($1.4 billion) from 2011 and up 222% from 2002. It is up 268% since 2001. The other private services (business, professional and technical services), the other transportation (freight services), and travel categories accounted for most of U.S. services imports from China.

http://www.ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china

As for Chinese investment in the US . . .

Chinese companies are on a North American buying spree, investing $14 billion in the U.S. last year, a record high, says a new report by New York’s Rhodium Group.

“Chinese investment in the United States doubled in 2013, driven by large-scale acquisitions in food, energy and real estate,” write analysts Thilo Hanemann and Cassie Gao in “Chinese FDI in the U.S.: 2013 Recap and 2014 Outlook,” released on Jan. 7.

“We expect Chinese interest in U.S. assets to remain strong in 2014 because of aggressive economic reforms in China, a more liberal policy environment for Chinese outbound investors, and a positive outlook for the U.S. economy.”

More: http://www.businessweek.com/articles/2014-01-08/chinese-investment-into-u-dot-s-dot-doubles-to-14-billion-in-2013

And,

The Chinese are interested in acquiring everything American, from companies to commercial and residential real estate. Their motivation is straightforward: They feel their assets are much better protected in the United States. Just this week, Beijing-based studio Huayi Brothers Media Corp. said it planned to spend $130 million in the U.S. to create a subsidiary to distribute movies and TV shows.

"There is much more trust (felt for) the United States and the U.S. government that those assets will be protected by the government, compared to the assets here in China, which could be taken away tomorrow," said Michael Godin, vice president of Real Estate Global Partners, who pairs Chinese investors with brokers in the U.S.

But the money is safe only if it actually makes it to the United States. Because Chinese law prohibits any more than $50,000 U.S. dollars leaving the country per person per year, Chinese investors and companies are getting increasingly creative when it comes to getting their money out of China and into the United States.

More... http://www.cnbc.com/id/102001876#



< Message edited by Musicmystery -- 1/26/2015 1:26:59 PM >

(in reply to freedomdwarf1)
Profile   Post #: 174
RE: 1% own half the world's wealth - 1/26/2015 1:43:48 PM   
freedomdwarf1


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Interesting that 2014 figures are actually lower (by $14bn) than 2013.
And the 3 years prior to that, it's been fairly static around the $400bn mark.
Comparing current figures with those of more than a decade ago is a tad misleading.

That aside, it still proves that only a tiny percentage of individuals own a shitload proportion of the world's wealth.
And a lot of the 'global' companies (Amazon, Google, Starbucks et al), are not paying their due taxes by squirreling their profits into tax havens and offshore accounts.


ETA: Also, "Beijing-based studio Huayi Brothers Media Corp. said it planned to spend $130 million in the U.S. to create a subsidiary to distribute movies and TV shows"
That is 'planned', not yet spent.
Ad as far as I'm aware, unless the subsidiary company is wholly US owned, taxes and profits will go back to the HQ of the owning company.... China.

< Message edited by freedomdwarf1 -- 1/26/2015 1:49:58 PM >


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If liberty means anything at all, it means the right to tell people what they do not want to hear.
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(in reply to Musicmystery)
Profile   Post #: 175
RE: 1% own half the world's wealth - 1/26/2015 1:47:55 PM   
Musicmystery


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Well, none the less, plenty of people are buying Chinese, and the Chinese are investing in the US to the limits of what their law allows, and getting creative about circumventing that law, particularly by transferring assets to Hong Kong.

If you're arguing instead that a lot of wealth is held by a minority at the top, I didn't realize that was exactly news...

(in reply to freedomdwarf1)
Profile   Post #: 176
RE: 1% own half the world's wealth - 1/26/2015 4:04:44 PM   
DesideriScuri


Posts: 12225
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quote:

ORIGINAL: MrRodgers
The fortune 1000 didn't create any of those jobs, or if they happened to have been employed there, most of those jobs were ones they hadn't exported yet...or couldn't.


Citation?

quote:

By far most of those jobs are not manufacturing jobs but menial or service jobs which are and have been the leading sectors of jobs and job creation (more often replacement) for almost 40 years.


Why should they be manufacturing jobs when we can get manufactured goods elsewhere for less?

quote:

Additionally, far too many of those jobs do not pay anywhere near a living wage causing many to move down in standard of living, move in with relatives or roommates and seek out govt. assist.


That depends on what you mean by a "living wage" and how the worker chooses to live. Far too many people live a lifestyle beyond their means. Some of those people might gripe about a "living wage," and they'd be right, to an extent. Their wages are below the lifestyle they want to live, so it's not a "living wage" according to their definition. When you (general) are wholly dependent on someone else for a job, you (general) can piss and moan all you (general) want, but your (general) options are still limited to what the employer offers. If you (general) don't like that option, you (general) have the option to create your (general) own way.

quote:

Recall...slaves had jobs. Didn't do them much good did it ?


Completely stupid comment. Great job.




_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to MrRodgers)
Profile   Post #: 177
RE: 1% own half the world's wealth - 1/26/2015 4:22:13 PM   
DesideriScuri


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quote:

ORIGINAL: Zonie63
quote:

ORIGINAL: DesideriScuri
The only reason government had to get involved was to expedite the changes that people were fighting for.

Then that begs the question as to why it was necessary for people to fight for those changes. Against whom, exactly, did the people have to fight to get these changes?


Employers. Employers will do what they need to do to make money in the Market, or they'll disappear. If they can't attract adequate employees, they can't bring their goods to market, or can't get the price at that quality level they need to stay in business. It's also true that they might pay their employees so much that they won't be able to sell enough at a high enough cost to stay in business. If an employer treats its employees like shit, those employees can leave and go to other employers that don't treat them like shit. Employees can also group together and start a competing business and treat their employees well, and suck all the talent away from their former employer.

Especially at this point in time, it's an awful lot easier to know what a prospective employer is like, and it's easier to get the word out about a shitty employer.

quote:

quote:

ORIGINAL: DesideriScuri
That's it. Some businessperson would have come along and found that it was easy to get top talent by offering a little bonus on top of the hourly wage for working more than "X" hours in a week. Then, competitors would have done the same thing. All that stuff snowballs and filters through the marketplace.

That's as reliable as the "trickle down" theory which never really came to realization. That's why the country is in the current mess that it's in, since conservative economists and their fellow travelers put too much faith in theories about what they thought some businessperson "would have done." That would bring us back to my question above: Why didn't they do it before it had to be forced upon them, either through government action or through labor unrest or through consumer pressure?


It hadn't yet been seen to be a benefit for the business. They could get all the employees at the quality level needed to get the job done and make money doing it. As soon as some employer couldn't fill its vacancies, then you would have seen things start to move in the right direction.

The problem with the Market, is that sometimes it moves very, very slowly, when we'd much rather it move quickly.

quote:

quote:

ORIGINAL: DesideriScuri
Remember back in the mid-00's when McD's and BK were offering $10/hr. wages? I do. It wasn't because the work was difficult or because of a government requirement, or union. It was simply because they couldn't lure enough applicants to fill the positions they needed filled.

Well, sure, if nobody wants to work a job at the offered wage, then an employer may decide to offer a higher wage. Of course, they've also been known to hire people under the table - people who may not be legally allowed to work in this country. A lot of fast-food places came to rely upon the undocumented as a source of labor and did so for many years, but as the government started to crack down more and jacked up the fines and penalties for offenders, a lot of places may have decided it just wasn't worth the risk anymore. So, that may have been indirectly due to a government requirement for proper work docs, although I think we would both agree that that's a government "intrusion" which is appropriate and proper.


Yep, but immigration is a Constitutionally authorized power of the Federal Government, isn't it?

quote:

quote:

ORIGINAL: DesideriScuri
That's how it works. Government intrusion will bring about the same changes faster, but that's not always the best idea.

Overall, I think that things have worked reasonably well in this country by having a mixed system involving some government control of the private sector, but not total government control. I think that we can find a certain happy medium in that regard, as long as the overall well-being of the country as a whole is agreed upon as the central goal - even if opposing sides may have different ideas as to how to reach that goal.


You've just made a statement that is a more specific paraphrasing of a general statement I've made many times. Both sides of the aisle pretty much want the same end games, but they differ on the means to get there. We can find a happy medium. I sure hope we even will. You'll probably disagree (and so will many on here, maybe even the majority), but I think government has gone too far. And, that, is why both sides of the aisle will be hard pressed to find that middle ground.

quote:

And it's not just about rewarding laziness or giving slackers a free ride, as several posters have suggested in this thread. Some of it also has to do with national stability and our standing in the world. It would not be a good thing for America if we regressed to that of a second-rate power lagging behind the rest of the industrialized world.


I disagree that we'd regress to being a second-rate power. I have a bit more positive belief in the American people.


_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to Zonie63)
Profile   Post #: 178
RE: 1% own half the world's wealth - 1/26/2015 4:25:23 PM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
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quote:

ORIGINAL: freedomdwarf1
quote:

ORIGINAL: DesideriScuri
It's not rocket surgery, either. The financial institution isn't just sitting on that money and paying interest on it. It's using it. So, it's making money, a small portion of which goes back to the owner of the account in the form of interest. Thus, that money is not just sitting there.

Yes, but the benefits of that money is NOT the US economy - it's the country holding those offshore accounts.
The US economy doesn't see a single red cent of it.
So in that sense, it helps the US not one jot.


It's a fucking global economy, so economic growth in other areas just might spur cheaper goods for us here (which we've seen), or more customers for our goods (which we've also seen).

quote:

quote:

ORIGINAL: DesideriScuri
So, the US consumers aren't benefiting from goods that cost less? Do tell.

I didn't say that.
I said the US economy doesn't benefit from it.
Because.... there aren't that many people that are rushing out to buy the Chinese cheap tat.
And, there aren't that many Chinese investors actually investing in US products and businesses either.
Most of the trade in these agreements are for the likes of GM and Ford to sell more cars to China.
The Chinese import taxes and sales taxes go to.... the Chinese treasury, not the US treasury.
And because those sales are 'export' sales, they don't attract any US treasury taxes either.
The companies make more sales, yes; but not much of that finds its way to the US treasury.


So, US consumers aren't making any impact on the US economy? Do tell.

quote:

Your posit would work well if sales and taxes went back to the US, but they don't.


Sales in the US have sales taxes that go to the US. I know. It's crazy.


_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to freedomdwarf1)
Profile   Post #: 179
RE: 1% own half the world's wealth - 1/26/2015 4:33:04 PM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: freedomdwarf1
Ad as far as I'm aware, unless the subsidiary company is wholly US owned, taxes and profits will go back to the HQ of the owning company.... China.


You need to get out more, then. One of the criticisms of US tax codes is that profits made outside the US aren't taxed by the US, unless that money is brought back into the US. So, GE operates at a loss within the US, allowing it to not have any Federal tax liability on profits, but can earn big profits outside the US that are shielded from US taxes. But, those profits are taxed by the country they're made in, so, it's not like GE isn't paying taxes.

Do you really think that there are no US taxes being paid by Chrysler/Dodge/Jeep because they are owned by Fiat?


_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to freedomdwarf1)
Profile   Post #: 180
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