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Post by avordvet on Sept 23, 2011 4:31:30 GMT -5
Roubini: "Too Little, Too Late"; Recession Is HereBy Forrest Jones, Thursday, 22 Sep 2011 04:49 PM The U.S. and Europe can do nothing to steer their economies from falling into recession, says New York University economist Nouriel Roubini. A look at his Twitter page shows Roubini, famous for accurately predicting the severity of the recent recession well before it happened, has abandoned all hope for avoiding double-dipping back into economic contraction. "Economy already in recession. Whatever the Fed does now is too little, too late," Roubini tweets... www.moneynews.com/StreetTalk/Roubini-economics-recession/2011/09/22/id/411986
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Post by Michael Downing on Sept 23, 2011 21:47:49 GMT -5
"We have a slowdown and basically a conflict about whether the rich ought to pay taxes to create jobs or not, and there was a deal in the making which would have balanced the budget over the long term but would have allowed short-term fiscal stimulus, which would have been the right policy," Soros says. "That was rejected, it fell apart … so it will come to the electorate next year to decide what they want."
Evil walks among us and in the end there will be a time to stand against Evil...
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Post by brocktownsend on Sept 23, 2011 22:06:22 GMT -5
the rich ought to pay taxes to create jobs
Oh, so the rich paying taxes create jobs? Pray tell, how paying more taxes creates jobs.
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Post by Michael Downing on Sept 24, 2011 7:14:54 GMT -5
My father used to say, "I never got a job from a poor man, but I have also seen my share of people with more money than brains." He was referring in the latter to those who inherited family money and never had to earn their own way. Some thoughts of the Founders on taxes, welfare and government intervention:
Benjamin Franklin "I am for doing good to the poor, but I differ in opinion of the means. I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. In my youth I traveled much, and I observed in different countries, that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer."
James Madison "If Congress can do whatever in their discretion can be done by money, and will promote the General Welfare, the Government is no longer a limited one, possessing enumerated powers, but an indefinite one, subject to particular exceptions."
Alexander Hamilton "If Congress can employ money indefinitely to the general welfare… The powers of Congress would subvert the very foundation, the very nature of the limited government established by the people of America."
Thomas Jefferson "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.
To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical."
"I place economy among the first and most important virtues, and public debt as the greatest of dangers to be feared.
To preserve our independence, we must not let our rulers load us with perpetual debt. If we run into such debts, we must be taxed in our meat and drink, in our necessities and in our comforts, in our labor and in our amusements. If we can prevent the government from wasting the labor of the people, under the pretense of caring for them, they will be happy."
Thomas Paine "What at first was plunder assumed the softer name of revenue."
"If, from the more wretched parts of the old world, we look at those which are in an advanced stage of improvement, we still find the greedy hand of government thrusting itself into every corner and crevice of industry, and grasping the spoil of the multitude. Invention is continually exercised, to furnish new pretenses for revenues and taxation. It watches prosperity as its prey and permits none to escape without tribute. "
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