The Mudcat Café TM
Thread #88485   Message #1665457
Posted By: GUEST,petr
09-Feb-06 - 04:46 PM
Thread Name: BS: More Insult to the Poor
Subject: RE: BS: More Insult to the Poor
I like the idea of investing taxes corporately? Do you mean like Enron, World Com and all the other 'bad apples' or the top 30% of largest US corporations that paid zero 0 taxes the last five years - .

As a so-called Capitalist society the US taxpayers paid for the highways that all the large automakers encouraged the govt to build in the 40s & 50s
all the while they bought up tram and light rail transit companies and tore up the track so people would have to buy cars. The CEO's of the top automakers were found guilty and ordered to pay $1 dollar fines each.

Handouts to the lazy? HOw about the $500 million US handout that Bush gave to the poor oil industry to search for more oil (right after Katrina). Need we say anything about the defense industry as well?

Ebbie, good point on financial responsibility, when you have a president that has taken a surplus to the deepest deficit of any nation in HISTORY and now cuts social programs all the while giving the top 1% the largest tax cut in history..
DOnt you know that deficits dont matter any more? The will just devalue the dollar and let everyone else pay for it.

I suggest SH and MGibson read the Empire of Debt.

Globalism is dead. Even though the proponents like to say that through unrestricted corporate growth the rising tide will raise everyones ship the real truth is that since the early seventies the average working income has dropped 15-20% and now the average household needs two incomes to make ends meet. WHile a few of the richest have gotten richer, the disparity between the rich and poor has increased.

This is why governments all over have offloaded their responsibility on food banks, and the stupid tax (lotteries).

Why was there a meltdown in Asia, because unrestricted money markets
funneled money in while there was growth, and just as quickly pulled it all out when the bubble came. Note that China and India which had fixed currencies were not affected.

The perfect example that globalism is dead, is when the prime minister of Malaysia decided to go the other way and fix the currency low enough to encourage exports, stop the outflow of capital and institute various classic Keyenesian measures that all the critics said were obsolete. Everyone averted their eyes and awaited the collapse.
It didnt come, Malaysia re-emerged much better and stable than ever and lo and behold Mahathir Mohammed the prime minister of Malaysia was the feted at the (Globalist) Davos conference in 2003.