quote:

ORIGINAL: MrRodgers

But that misses the point entirely. Those profits are made here and simply recorded in Ireland at a scam office there. It's called profit shifting. And to the extent the US tax offices are cracking down it, there is the rush now to tax inversion, or corporate inversion, is the practice of relocating a corporation's legal domicile to a lower-tax nation, or tax haven, usually while retaining its material operations in its higher-tax country of origin.

There are bldgs, in Ireland and the Caymans that are a few floors with a few offices where several hundred companies list offices but have no personnel while having a RA or registered agent hired to facilitate the scam and only for tax avoidance.

Furthermore, if taxes paid in Ireland are written off in the US, that amounts to a US tax code subsidy to Ireland. So the US taxpayer is hurt twice. If they don't want to get twice, the bring the profits home. What has always been needed and may be happening finally, is for the G20 to get together and construct an even playing field for all corp. taxes.

quote:

ORIGINAL: tj444

quote:

ORIGINAL: MrRodgers

But that misses the point entirely. Those profits are made here and simply recorded in Ireland at a scam office there. It's called profit shifting. And to the extent the US tax offices are cracking down it, there is the rush now to tax inversion, or corporate inversion, is the practice of relocating a corporation's legal domicile to a lower-tax nation, or tax haven, usually while retaining its material operations in its higher-tax country of origin.

There are bldgs, in Ireland and the Caymans that are a few floors with a few offices where several hundred companies list offices but have no personnel while having a RA or registered agent hired to facilitate the scam and only for tax avoidance.

Furthermore, if taxes paid in Ireland are written off in the US, that amounts to a US tax code subsidy to Ireland. So the US taxpayer is hurt twice. If they don't want to get twice, the bring the profits home. What has always been needed and may be happening finally, is for the G20 to get together and construct an even playing field for all corp. taxes.

Those same kind of offices exist in Delaware and various other states in the US as well.. and for those same reasons.. why cant they exist in Ireland and the Caymans when the same thing happens here? I think for Americans to bitch about this is pretty funny when they allow it in their own country..

quote:

ORIGINAL: tj444
excuse me??? "it's telling"??? wtf?? The way ex-pat Americans have been treated tax-wise was decided way back when y'all became a country (or there in about).. you are the only developed country in the world that taxes based on residence and citizenship.. I never brought up an end to expat tax cuz I dont ever see that happening.. I think expat Americans & accidental Americans (anyone born elsewhere in the world with an American parent) get a really fucking raw deal, I think its wrong but those people have a very small voice and their only choice to avoid filing & paying US tax is to pay to renounce their American citizenship.. Seriously, are you and the other 300+ million Americans gonna give a shite about them and demand your govt end that? of course not, no one says squat about them and all the new US laws and hoops they must jump thru.. For you to tell me "its telling" that I didnt bring it up, when the fuck have you brought it up to your politicians & govt??
And, if the US were to tax the corporations just like the ex-pats are, there would be a considerable tax windfall that could do some enormous good for your country (assuming it was wisely spent).. but imo the secret deal making with the IRS I spoke about in a previous post in this thread should definately end, those big corporations are screwing honest, hardworking taxpayers and ripping off your country.. when are you (& your fellow Americans) going to speak out to your politicians about that???

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

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: tj444
excuse me??? "it's telling"??? wtf?? The way ex-pat Americans have been treated tax-wise was decided way back when y'all became a country (or there in about).. you are the only developed country in the world that taxes based on residence and citizenship.. I never brought up an end to expat tax cuz I dont ever see that happening.. I think expat Americans & accidental Americans (anyone born elsewhere in the world with an American parent) get a really fucking raw deal, I think its wrong but those people have a very small voice and their only choice to avoid filing & paying US tax is to pay to renounce their American citizenship.. Seriously, are you and the other 300+ million Americans gonna give a shite about them and demand your govt end that? of course not, no one says squat about them and all the new US laws and hoops they must jump thru.. For you to tell me "its telling" that I didnt bring it up, when the fuck have you brought it up to your politicians & govt??
And, if the US were to tax the corporations just like the ex-pats are, there would be a considerable tax windfall that could do some enormous good for your country (assuming it was wisely spent).. but imo the secret deal making with the IRS I spoke about in a previous post in this thread should definately end, those big corporations are screwing honest, hardworking taxpayers and ripping off your country.. when are you (& your fellow Americans) going to speak out to your politicians about that???

1. Yes, it's telling. You think the way they treat expats is wrong (we agree, btw). So, instead of ending the wrong, you want to expand the wrong to corporations. Yes, it's very telling.

2. There would be no tax windfall because your assumption is wrong. Since you live in the US, and have for at least several years, you should know better than to think that government is going to wisely spend.

3. How are big corp's screwing honest, hardworking taxpayers?

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: tj444

quote:

ORIGINAL: MrRodgers

But that misses the point entirely. Those profits are made here and simply recorded in Ireland at a scam office there. It's called profit shifting. And to the extent the US tax offices are cracking down it, there is the rush now to tax inversion, or corporate inversion, is the practice of relocating a corporation's legal domicile to a lower-tax nation, or tax haven, usually while retaining its material operations in its higher-tax country of origin.

There are bldgs, in Ireland and the Caymans that are a few floors with a few offices where several hundred companies list offices but have no personnel while having a RA or registered agent hired to facilitate the scam and only for tax avoidance.

Furthermore, if taxes paid in Ireland are written off in the US, that amounts to a US tax code subsidy to Ireland. So the US taxpayer is hurt twice. If they don't want to get twice, the bring the profits home. What has always been needed and may be happening finally, is for the G20 to get together and construct an even playing field for all corp. taxes.

Those same kind of offices exist in Delaware and various other states in the US as well.. and for those same reasons.. why cant they exist in Ireland and the Caymans when the same thing happens here? I think for Americans to bitch about this is pretty funny when they allow it in their own country..

Profits recorded in Delaware are subject to the US fed. tax rate but profits recorded or stashed off shore...are not. Yes, there are more companies in Delaware...than people. Delaware's state tax and benefits are hurting other states but not for the FED corp. tax rate. The reason for the OP is that at some point in time, govt. must step now and stop all of this. The latest EU as I wrote is a good first major salvo in that war.

Yes, companies incorporate in Del. for their beneficial corp. laws and simply because it rivals offshore tax havens, fails to impress or 'humor' me and shouldn't you. But there is still an 8.7% state corp. tax rate but 'profits' recorded offshore can still avoid even that. In fact now, even the World bank is looking into Del. and will hopefully offer recommendations. That's why the increase in corp. inversion. (offshore)

This is all a matter of various world-wide opportunities competing, in a race to the bottom to gain revenues off corporate greed.

quote:

ORIGINAL: tj444
Come on dude, if you think that the govt isnt gonna spend money wisely then ya cant tell me that any of y'all give a shite about the plight of American ex-pats and think that situation is ever gonna change.. sure my first choice (if I ever had any say, which i never will have) is that the US govt change that policy for ex-pats cuz if there is no agreement between the US & whatever country they work/live in then they do get double taxed.. but no one gives a shite and will pass a law changing that and that is the reality of it..

quote:

Big corps that dont pay their fair share of tax and use secret agreements with the IRS to pay half/less are screwing honest, hardworking taxpayers and making them make up the difference cuz they keep getting taxed more all the time (no matter if its called a tax or a fee or some other name).. its shifting their true share of the tax burden to you, dude..

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

quote:

ORIGINAL: tj444

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: tj444

quote:

ORIGINAL: MrRodgers

But that misses the point entirely. Those profits are made here and simply recorded in Ireland at a scam office there. It's called profit shifting. And to the extent the US tax offices are cracking down it, there is the rush now to tax inversion, or corporate inversion, is the practice of relocating a corporation's legal domicile to a lower-tax nation, or tax haven, usually while retaining its material operations in its higher-tax country of origin.

There are bldgs, in Ireland and the Caymans that are a few floors with a few offices where several hundred companies list offices but have no personnel while having a RA or registered agent hired to facilitate the scam and only for tax avoidance.

Furthermore, if taxes paid in Ireland are written off in the US, that amounts to a US tax code subsidy to Ireland. So the US taxpayer is hurt twice. If they don't want to get twice, the bring the profits home. What has always been needed and may be happening finally, is for the G20 to get together and construct an even playing field for all corp. taxes.

Those same kind of offices exist in Delaware and various other states in the US as well.. and for those same reasons.. why cant they exist in Ireland and the Caymans when the same thing happens here? I think for Americans to bitch about this is pretty funny when they allow it in their own country..

Profits recorded in Delaware are subject to the US fed. tax rate but profits recorded or stashed off shore...are not. Yes, there are more companies in Delaware...than people. Delaware's state tax and benefits are hurting other states but not for the FED corp. tax rate. The reason for the OP is that at some point in time, govt. must step now and stop all of this. The latest EU as I wrote is a good first major salvo in that war.

Yes, companies incorporate in Del. for their beneficial corp. laws and simply because it rivals offshore tax havens, fails to impress or 'humor' me and shouldn't you. But there is still an 8.7% state corp. tax rate but 'profits' recorded offshore can still avoid even that. In fact now, even the World bank is looking into Del. and will hopefully offer recommendations. That's why the increase in corp. inversion. (offshore)

This is all a matter of various world-wide opportunities competing, in a race to the bottom to gain revenues off corporate greed.

yes, I know that they still pay Fed tax, but its still a tax haven from high/higher tax states where they may really be doing business so those no/low tax states are still tax havens.. the World Bank? you want a worldwide govt/tax system now??? talk about scary..

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: tj444
Come on dude, if you think that the govt isnt gonna spend money wisely then ya cant tell me that any of y'all give a shite about the plight of American ex-pats and think that situation is ever gonna change.. sure my first choice (if I ever had any say, which i never will have) is that the US govt change that policy for ex-pats cuz if there is no agreement between the US & whatever country they work/live in then they do get double taxed.. but no one gives a shite and will pass a law changing that and that is the reality of it..

I don't think government spends money wisely. Period. You can not determine what I think about expats tax status. You don't have that authority. If enough people think government is doing something wrong and give a shit about it, it will change. Might take a long fucking time, but it will get done.

quote:

Big corps that dont pay their fair share of tax and use secret agreements with the IRS to pay half/less are screwing honest, hardworking taxpayers and making them make up the difference cuz they keep getting taxed more all the time (no matter if its called a tax or a fee or some other name).. its shifting their true share of the tax burden to you, dude..

From your point of view (a Big Government viewpoint), the "problem" with the deficit is that we aren't taxing people and/or Corporations enough. From my point of view (Limited Government), the problem isn't tax revenues (which are at or near record highs), but it's spending. I'd much rather starve the beast than take a chance that the beast won't simply grow and demand more and more.

quote:

ORIGINAL: KenDckey

I believe that the purpose of Goverrnment is to tax business and people out of their profits. A business that produces goods and services that makes no profits serves no purpose. Oh, people are making a wage, but that itself is being challenged because of the tax burden. We even now must pay taxes on medical equipment and I expect sometime in the not to distant future that will expand. You make investments - taxes. I percieve government wanting to make all wages the same, regardless of the amount work produced, responsibility, etc. I see government wanting to tell us exactly how to live our lives. And I am not necesssarily refering to the US Government. I wonder how long it will take the UN to establish a global tax system to further erode society, taking it away from whatever national government says is needed.

quote:

ORIGINAL: MrRodgers

Delaware is not near the 'tax haven' that the offshore havens are with respect to federal taxes. I understand the World bank is doing a study and if so, would have policy recommendations that could be helpful. Where you got 'worldwide govt./tax' system...I don't know.

quote:

ORIGINAL: MrRodgers
The problem with taxes irrespective of what is 'fair' is that the whole code is not a level playing field. DS, you are conservative and on most things, I am too. However, our original tax regime was yes, for a small limited govt. and its size now is and has been a bipartisan affair, was to be paid for with a small tax on business and NO tax on labor. (a tax on demand BTW)

quote:

As it stands now, businesses and investors pay around 1/2 or less the rate that our higher labor rates are and we could start there with reform and because incentives are in the marketplace and not to be in the tax code.

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

quote:

ORIGINAL: DesideriScuri

What happens when you tax a business? Does that tax not get rolled into the price of the product? In the end, consumers are still going to be paying that tax. That's part of the reason I prefer a consumption tax (food and charities excluded). The consumer actually gets to decide how much tax he or she wants to pay.

quote:

ORIGINAL: tj444

quote:

ORIGINAL: DesideriScuri
What happens when you tax a business? Does that tax not get rolled into the price of the product? In the end, consumers are still going to be paying that tax. That's part of the reason I prefer a consumption tax (food and charities excluded). The consumer actually gets to decide how much tax he or she wants to pay.

If a business (other than Big Pharma & Big Oil) charges too much it risks no one buying their shite and going out of business.. Consumers arent really all that smart (despite the credit you give them), they look at the end price of the product, look at the cost of competitor's products and tend to buy the least expensive/cheapest.. Then the business must either go out of business or they go offshore & use robotics to keep prices in line with what customers are willing to pay.. so in the end, the American consumer is responsible for the massive loss of jobs at home.. they cost their neighbors their jobs..
The stupid cheer Trump for saying he will end trade agreements and charge massive duties on products not made in the USA.. so what does that do to a consumer's choice? The stupid who cheer for Trump dont seem to understand that if he wins & follows thru that they will be the ones paying more.. then they will turn around and bitch about that too.. (shrug) good thing I am a minimalist..

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

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: tj444

quote:

ORIGINAL: DesideriScuri
What happens when you tax a business? Does that tax not get rolled into the price of the product? In the end, consumers are still going to be paying that tax. That's part of the reason I prefer a consumption tax (food and charities excluded). The consumer actually gets to decide how much tax he or she wants to pay.

If a business (other than Big Pharma & Big Oil) charges too much it risks no one buying their shite and going out of business.. Consumers arent really all that smart (despite the credit you give them), they look at the end price of the product, look at the cost of competitor's products and tend to buy the least expensive/cheapest.. Then the business must either go out of business or they go offshore & use robotics to keep prices in line with what customers are willing to pay.. so in the end, the American consumer is responsible for the massive loss of jobs at home.. they cost their neighbors their jobs..
The stupid cheer Trump for saying he will end trade agreements and charge massive duties on products not made in the USA.. so what does that do to a consumer's choice? The stupid who cheer for Trump dont seem to understand that if he wins & follows thru that they will be the ones paying more.. then they will turn around and bitch about that too.. (shrug) good thing I am a minimalist..

No wonder you don't care that much about America; you don't fit in. If only you were a "consumption is King" sort of person, you'd understand better.

The thing is, Big Oil isn't just one company. It's all the oil companies. So, if you add more costs to "Big Oil," you'll be adding costs across all the oil companies, not just this one, or that one. All the oil companies will have their costs and prices raised, meaning all the gas available will go up in price. Until we aren't reliant on gas, we're at their mercy, so to speak.

What most people don't see, understand, or care about, is that the incredible diversity of products (and prices for those products) we have available to us in the US, is due, in large part, to foreign trade. Without it, we'd have significantly less choice, and far fewer pricing options to choose from. Things will cost more. People will spend the same amount of dollars for a smaller basket of goods.

I have a bad feeling we're heading towards another recession that will make this last one pale in comparison. I'd almost say we need a depression to restart things and do them better.

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: MrRodgers
The problem with taxes irrespective of what is 'fair' is that the whole code is not a level playing field. DS, you are conservative and on most things, I am too. However, our original tax regime was yes, for a small limited govt. and its size now is and has been a bipartisan affair, was to be paid for with a small tax on business and NO tax on labor. (a tax on demand BTW)

A small limited government, in my belief isn't a specific dictate on the size. It needs to be just big enough to fulfill it's limited authorities. As small as it can be to efficiently fill the purposes We the People decided. That's it's outgrown it's charter isn't reason to simply give it more money. We the People need to keep government small and limited (limited [as intended by those who wrote the Constitution] to the authorities we grant through the Constitution). Since I think the Federal government is overgrown it's bounds, I believe it's past time to rein it in. I'd rather force it to shrink than play the odds that it will.

And, I completely agree that "the beast" has been grown by nearly all parties that have ever won an election.

quote:

As it stands now, businesses and investors pay around 1/2 or less the rate that our higher labor rates are and we could start there with reform and because incentives are in the marketplace and not to be in the tax code.

What happens when you tax a business? Does that tax not get rolled into the price of the product? In the end, consumers are still going to be paying that tax. That's part of the reason I prefer a consumption tax (food and charities excluded). The consumer actually gets to decide how much tax he or she wants to pay.

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: tj444

quote:

ORIGINAL: DesideriScuri
What happens when you tax a business? Does that tax not get rolled into the price of the product? In the end, consumers are still going to be paying that tax. That's part of the reason I prefer a consumption tax (food and charities excluded). The consumer actually gets to decide how much tax he or she wants to pay.

If a business (other than Big Pharma & Big Oil) charges too much it risks no one buying their shite and going out of business.. Consumers arent really all that smart (despite the credit you give them), they look at the end price of the product, look at the cost of competitor's products and tend to buy the least expensive/cheapest.. Then the business must either go out of business or they go offshore & use robotics to keep prices in line with what customers are willing to pay.. so in the end, the American consumer is responsible for the massive loss of jobs at home.. they cost their neighbors their jobs..
The stupid cheer Trump for saying he will end trade agreements and charge massive duties on products not made in the USA.. so what does that do to a consumer's choice? The stupid who cheer for Trump dont seem to understand that if he wins & follows thru that they will be the ones paying more.. then they will turn around and bitch about that too.. (shrug) good thing I am a minimalist..

No wonder you don't care that much about America; you don't fit in. If only you were a "consumption is King" sort of person, you'd understand better.

The thing is, Big Oil isn't just one company. It's all the oil companies. So, if you add more costs to "Big Oil," you'll be adding costs across all the oil companies, not just this one, or that one. All the oil companies will have their costs and prices raised, meaning all the gas available will go up in price. Until we aren't reliant on gas, we're at their mercy, so to speak.

What most people don't see, understand, or care about, is that the incredible diversity of products (and prices for those products) we have available to us in the US, is due, in large part, to foreign trade. Without it, we'd have significantly less choice, and far fewer pricing options to choose from. Things will cost more. People will spend the same amount of dollars for a smaller basket of goods.

I have a bad feeling we're heading towards another recession that will make this last one pale in comparison. I'd almost say we need a depression to restart things and do them better.

quote:

ORIGINAL: tj444

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: tj444

quote:

ORIGINAL: DesideriScuri
What happens when you tax a business? Does that tax not get rolled into the price of the product? In the end, consumers are still going to be paying that tax. That's part of the reason I prefer a consumption tax (food and charities excluded). The consumer actually gets to decide how much tax he or she wants to pay.

If a business (other than Big Pharma & Big Oil) charges too much it risks no one buying their shite and going out of business.. Consumers arent really all that smart (despite the credit you give them), they look at the end price of the product, look at the cost of competitor's products and tend to buy the least expensive/cheapest.. Then the business must either go out of business or they go offshore & use robotics to keep prices in line with what customers are willing to pay.. so in the end, the American consumer is responsible for the massive loss of jobs at home.. they cost their neighbors their jobs..
The stupid cheer Trump for saying he will end trade agreements and charge massive duties on products not made in the USA.. so what does that do to a consumer's choice? The stupid who cheer for Trump dont seem to understand that if he wins & follows thru that they will be the ones paying more.. then they will turn around and bitch about that too.. (shrug) good thing I am a minimalist..

No wonder you don't care that much about America; you don't fit in. If only you were a "consumption is King" sort of person, you'd understand better.
The thing is, Big Oil isn't just one company. It's all the oil companies. So, if you add more costs to "Big Oil," you'll be adding costs across all the oil companies, not just this one, or that one. All the oil companies will have their costs and prices raised, meaning all the gas available will go up in price. Until we aren't reliant on gas, we're at their mercy, so to speak.
What most people don't see, understand, or care about, is that the incredible diversity of products (and prices for those products) we have available to us in the US, is due, in large part, to foreign trade. Without it, we'd have significantly less choice, and far fewer pricing options to choose from. Things will cost more. People will spend the same amount of dollars for a smaller basket of goods.
I have a bad feeling we're heading towards another recession that will make this last one pale in comparison. I'd almost say we need a depression to restart things and do them better.

I would say that we were (and still are) in a depression.. the media and politicians didnt want to tell the truth and call it that tho... but even 8 or so years later this economy is still barely hanging on..

quote:

Yes, there would be a smaller basket of goods but they wont cost the same, they will cost a shitload more.. its not gonna cost less to "bring jobs home", its gonna cost more and the corps that are the greediest will raise prices twice as much as needed cuz at that point consumers wont have much choice in anything.. more profit for greedy corps and blame it on having to hire Americans..

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

quote:

ORIGINAL: MrRodgers
The problem with oil as with all fossil fuels are the subsidies and tax credits which according to various studies place them at in excess of $5 trillion per year worldwide. Oil and any other commodities are not examples of the benefits of foreign trade. All commodities are subject to paper speculation and all too often does not reflect actual supply and demand irrespective of their various origins. It is that speculation that shows no mercy.

quote:

If we are heading into yet another recession, it will reflect once again our economic sensitivity to debt and interest rates i.e., the cost of capital. Most recoveries are sustained by increasing debt as most recessions are caused by lack of debt.

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

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: tj444

quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: tj444

quote:

ORIGINAL: DesideriScuri
What happens when you tax a business? Does that tax not get rolled into the price of the product? In the end, consumers are still going to be paying that tax. That's part of the reason I prefer a consumption tax (food and charities excluded). The consumer actually gets to decide how much tax he or she wants to pay.

If a business (other than Big Pharma & Big Oil) charges too much it risks no one buying their shite and going out of business.. Consumers arent really all that smart (despite the credit you give them), they look at the end price of the product, look at the cost of competitor's products and tend to buy the least expensive/cheapest.. Then the business must either go out of business or they go offshore & use robotics to keep prices in line with what customers are willing to pay.. so in the end, the American consumer is responsible for the massive loss of jobs at home.. they cost their neighbors their jobs..
The stupid cheer Trump for saying he will end trade agreements and charge massive duties on products not made in the USA.. so what does that do to a consumer's choice? The stupid who cheer for Trump dont seem to understand that if he wins & follows thru that they will be the ones paying more.. then they will turn around and bitch about that too.. (shrug) good thing I am a minimalist..

No wonder you don't care that much about America; you don't fit in. If only you were a "consumption is King" sort of person, you'd understand better.
The thing is, Big Oil isn't just one company. It's all the oil companies. So, if you add more costs to "Big Oil," you'll be adding costs across all the oil companies, not just this one, or that one. All the oil companies will have their costs and prices raised, meaning all the gas available will go up in price. Until we aren't reliant on gas, we're at their mercy, so to speak.
What most people don't see, understand, or care about, is that the incredible diversity of products (and prices for those products) we have available to us in the US, is due, in large part, to foreign trade. Without it, we'd have significantly less choice, and far fewer pricing options to choose from. Things will cost more. People will spend the same amount of dollars for a smaller basket of goods.
I have a bad feeling we're heading towards another recession that will make this last one pale in comparison. I'd almost say we need a depression to restart things and do them better.

I would say that we were (and still are) in a depression.. the media and politicians didnt want to tell the truth and call it that tho... but even 8 or so years later this economy is still barely hanging on..

No, we're in a very slow recovery. A depression is a long and prolonged downturn in economic activity. The US economy is (barely) growing.

Depressions bring deflation along with it. It isn't immediate, which is why depressions are horrible, but deflation will come, and relief will follow.

quote:

Yes, there would be a smaller basket of goods but they wont cost the same, they will cost a shitload more.. its not gonna cost less to "bring jobs home", its gonna cost more and the corps that are the greediest will raise prices twice as much as needed cuz at that point consumers wont have much choice in anything.. more profit for greedy corps and blame it on having to hire Americans..

They'll raise prices "twice as much as needed?" Without competition, they'd be able to do that. We'll still have competition, so prices are likely rise only as much as the market will bear.