2020 Recession

[Draco-Onis]

https://tlaib.house.gov/sites/tlaib....s%20Act%20.pdf

A member of 'the squad' put out her plan for helping people and saving the economy and its probably the most retarded thing I have ever read...

- Every person in the United States gets a pre-paid debit card with $2000 on it. And she literally means every single person ("every person" includes: dependents; non-citizens, including undocumented people)... So 330,000,000+ people.
- Another $1000 would be added to the card every month until one year after the COVID-19 crisis passes... So even in fantasy lala land best case scenario of the crisis ending instantly, everyone would be getting at least another $12,000.
- IE: $4.6 trillion dollars at the lowest end.

And she says we wouldn't have to incur any debt or increased taxation to pay for it, we just have to have the US Mint create two $1 trillion platinum coins out of thin air and then sell them to the Fed. Apparently she can't do math either.

This is your brain on Bernie Sanders.

We should spend the 5 trillion on the rich and corporations like the Republican tax cuts have. We have shown stock buy backs and Cayman islands accounts are the best way to shore up the economy.

[PC2]

We should spend the 5 trillion on the rich and corporations like the Republican tax cuts have. We have shown stock buy backs and Cayman islands accounts are the best way to shore up the economy.

The government has to have money to spend it. Money it didn't get from taxes isn't spent on anything or given to anyone by the government, it simply stays with the person or business that earned it. Lowering taxes here is actually what will prevent people from wanting to store wealth in places like Cayman.

[Masark]

Lowering taxes here is actually what will prevent people from wanting to store wealth in places like Cayman.

No it won't. Unless the tax rate is literally negative, they will always be incentivized to do that.

[Orbitus]

The government has to have money to spend it. Money it didn't get from taxes isn't spent on anything or given to anyone by the government, it simply stays with the person or business that earned it. Lowering taxes here is actually what will prevent people from wanting to store wealth in places like Cayman.

Yeah, no it won't. I don't know what you are smoking, but you either need more, or less. Either way, lowering taxes on the wealthy doesn't get them to stop storing it.

[Draco-Onis]

The government has to have money to spend it. Money it didn't get from taxes isn't spent on anything or given to anyone by the government, it simply stays with the person or business that earned it. Lowering taxes here is actually what will prevent people from wanting to store wealth in places like Cayman.

Are you serious? we've done this dance during recessions and non recessions trickle down economics has never worked. You have to be a complete moron to believe that people who already have tons of money need more.

[PC2]

Yeah, no it won't. I don't know what you are smoking, but you either need more, or less. Either way, lowering taxes on the wealthy doesn't get them to stop storing it.

But why would they still store it in Cayman when there's no special advantage for doing so. They would simply put it where it's most productive as opposed to where it is the most insulated from political instability.

[Vash The Stampede]

https://tlaib.house.gov/sites/tlaib....s%20Act%20.pdf

A member of 'the squad' put out her plan for helping people and saving the economy and its probably the most retarded thing I have ever read...

- Every person in the United States gets a pre-paid debit card with $2000 on it. And she literally means every single person ("every person" includes: dependents; non-citizens, including undocumented people)... So 330,000,000+ people.
- Another $1000 would be added to the card every month until one year after the COVID-19 crisis passes... So even in fantasy lala land best case scenario of the crisis ending instantly, everyone would be getting at least another $12,000.
- IE: $4.6 trillion dollars at the lowest end.

That's rather smart actually. Do you need to be reminded how much was spent on corporations and the wealthy? Money they won't pay back, as much as people would like to think. We needed this back in 2008 when we threw "loans" to save businesses which did save jobs, but low quality jobs like Amazon warehouse and Walmart. This resulted in people living paycheck to paycheck while also having loads of debt.

And she says we wouldn't have to incur any debt or increased taxation to pay for it, we just have to have the US Mint create two $1 trillion platinum coins out of thin air and then sell them to the Fed. Apparently she can't do math either.

I'm not sure how the details work but the Fed lately just prints money out of thin air for big businesses.

This is your brain on Bernie Sanders.

This sounds like something Andrew Yang would come up but this is my brain on Bernie Sanders.

Are you serious? we've done this dance during recessions and non recessions trickle down economics has never worked. You have to be a complete moron to believe that people who already have tons of money need more.

Yep, only trickle up works. As long as the public has money the corporations will do what they can to get it. They will produce products, they will hire employees, and etc. Give all the money to the wealthy corporations and they have no reason to give you good paying jobs, but have every reason to protect their money, which was given to them by the government.

[Orbitus]

But why would they still store it in Cayman when there's no special advantage for doing so. They would simply put it where it's most productive as opposed to where it is the most insulated from political instability.

So, you think they would magically invest it or start new ventures if they have less taxes?

[Calfredd]

But why would they still store it in Cayman when there's no special advantage for doing so. They would simply put it where it's most productive as opposed to where it is the most insulated from political instability.

I know you hate and ignore history but it has been proven time and time again that less taxes on the wealthy does not make them put it back into the economy instead of storing it Scrooge McDuck-style.

[Orbitus]

I know you hate and ignore history but it has been proven time and time again that less taxes on the wealthy does not make them put it back into the economy instead of storing it Scrooge McDuck-style.

Yep, we have 40 years of history showing that, thanks to fucking Ronald Reagan and his shitty tax advisers.

[Zan15]

So you where wrong . simple as that.
r

Technically no, because I put no timeline on it and here we are BULL market is OVER. Sorry sir, but now YOU are WRONG.
But if you want to claim a win, by all means do so...I am all about making people feel better about themselves!!!

You cannot expect me to believe that with your avatar.

Nope you can go read my other post. I took impeachment and trumps actions seriously. As it being only the third time in history that a president was impeached. Everyone should have taken it seriously.

Its more then i no longer give a flying fuck for the well being of the democratic states. After all you cannot prevent stupidity. The democrats wanted this global economy now they can live in it with all its benefits. After all the decadent shits didnt give a fuck for the well-being of the fly over states.

OH I agree, democrats just like republicans care not about the welfare of the people of this country anymore only their own self serving needs.

As for the global economy, there has been way more benefits then negatives and to go back to mostly centric isolationism would be disastrous for us in the long run. It would allow our position to erode as world leaders and allow more corrupt countries to step in. That's how we ended up with a few World Wars.

Well all the past history shows to me you dont have America´s best interest in mind . especially not with that banner

HAHAH, wow that is half assed backwards.
Holding a president accountable for his actions IS HAVING AMERICA BEST INTEREST IN MIND.
If that's the case then the republican party stop having America's best interest in mind in the 90's after a president got a blow job.... (btw I also supported impeachment back then too. total abuse of the office)


I would love to know what else shows I "don't have America's best interest in mind....." besides not agreeing with you on a political issue of impeachment.

[PC2]

I know you hate and ignore history but it has been proven time and time again that less taxes on the wealthy does not make them put it back into the economy instead of storing it Scrooge McDuck-style.

Historical/pattern-based reasoning is fallacious though because it doesn't given an *explanation* for why that happened, as correlation is not causation. With no explanation there's no argument as to why it would always apply in the future.

If a rich person wants to hoard their money and not directly put it in investments with a decent ROI then it's their right to do so and they're only shooting themselves in the foot. While their money is sitting around getting 1% interest, other active investors will be getting ROIs that average closer to 8% and so eventually they will surpass and trivialize the hoarders.

[Zan15]

A member of 'the squad' put out her plan for helping people and saving the economy and its probably the most retarded thing I have ever read...

- Every person in the United States gets a pre-paid debit card with $2000 on it. And she literally means every single person ("every person" includes: dependents; non-citizens, including undocumented people)... So 330,000,000+ people.
- Another $1000 would be added to the card every month until one year after the COVID-19 crisis passes... So even in fantasy lala land best case scenario of the crisis ending instantly, everyone would be getting at least another $12,000.
- IE: $4.6 trillion dollars at the lowest end.

And she says we wouldn't have to incur any debt or increased taxation to pay for it, we just have to have the US Mint create two $1 trillion platinum coins out of thin air and then sell them to the Fed. Apparently she can't do math either.

This is your brain on Bernie Sanders.

I agree, its not a well thought out plan at all.

But.....You understand she is basically replacing US treasuries created out of thin air, backed by the US govt...with 2 coins...created out of thin air, backed by the US govt … right?? Right?? We already create several "coins" on a weekly basis to replace the coins we already printed upwards of 30 years ago. Hell we owe what 25 coins worth of debt right now.



You also understand that 4.6 trillion dollars pumped into the economy is also TAXED, so you do not need 4.6 trillion dollars to fund it. So her math might not be as far off as you think.

the average tax rate is around 14% in 2018.
600-800 billion dollars just in income taxes, since it does not say this is not taxed and would be considered income by the IRS.

Then when the money is spent and businesses receive the money, its taxed again. and again. and again.
it would also save/create jobs which....spoiler...results in more not less taxes being collected.

You could in theory probably recoup half the cost of the program just in taxes from the actual payments.

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I'm not talking about Italy.
It's amusing in PA they were to enforce a total lockdown last night. But lawmakers and industry leaders protested and since there were so many waivers that had to be considered it was pushed back until Monday.

of course not this is MURCIA....it can't happen here right....right?

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I'm not sure how the details work but the Fed lately just prints money out of thin air for big businesses.

.

They don't. The fed deals in assets.

[Calfredd]

Historical/pattern-based reasoning is fallacious though because it doesn't given an *explanation* for why that happened, as correlation is not causation. With no explanation there's no argument as to why it would always apply in the future.

"Just because the sun rose from the east and set in the west yesterday, doesn't mean that it will rise from the east and set in the west tomorrow" and you say there is no explanation for why it happened even though this stuff is studied which you also ignore.

[PC2]

"Just because the sun rose from the east and set in the west yesterday, doesn't mean that it will rise from the east and set in the west tomorrow" and you say there is no explanation for why it happened even though this stuff is studied which you also ignore.

You've given no *explanation* for what causes something to repeat itself. Patterns can't give explanations due to the correlation-causation problem. If you want to make an argument about rich people or planets then it has to be based on a explanatory principle and not "this is what was observed in the past".

[DKjaigen]

Nope you can go read my other post. I took impeachment and trumps actions seriously. As it being only the third time in history that a president was impeached. Everyone should have taken it seriously.

So you took a farce seriously?

As for the global economy, there has been way more benefits then negatives and to go back to mostly centric isolationism would be disastrous for us in the long run. It would allow our position to erode as world leaders and allow more corrupt countries to step in. That's how we ended up with a few World Wars.

At this point i am completely sure you are a Chinese shill. The last 20 years America has seen a massive economic and social divide, a decimated middle class ,you are have a trade deficit of nearly 500 billion .China is now in complete control of several important industries(including the medical one) and have been stealing America´s patents left and right and are now poised to become the world power. America position as a the world is long over all thx to globalism.

[Zan15]

So you took a farce seriously?

.

Impeachment was not a farce, and should always be taken seriously.

You didn't take it seriously? hmm, interesting why's that?

At this point i am completely you are a Chinese shill. The last 20 years America has seen a massive economic and social divide, a decimated middle class ,you are have a trade deficit of nearly 500 billion .China is now in complete control of several important industries(including the medical one) and have been stealing America´s patents left and right and are now poised to become the world power. America position as a the world is long all thx to globalism.

Wow you are so flustered you can't even type straight. Chil Bro.

You know that 99% of the problem was not caused by China but by our own leadership, rich citizens and corporations right? Also consumers are at fault since they want cheap products. They refuse to buy American and refuse to have to pay a few sheckles more for goods. Consumers in this country do not even care if patents are stolen because they want cheap ass stuff.


Blaming "globalism" before the people of this country for most of the things you listed is a joke.


You still have not explained why I am a Chinese shill. You keep speaking in generalizations of the country and rambling about "globalism" but you have not provided any actual detail on why I am a shill.
Pointing out tariffs don't work and excessive taxation would result in 1-1 retaliatory taxation resulting in a net result of ZERO effect, is not "shilling" no matter how much you think it is



hell I have owned a half of dozen Ford vehicles that are "mostly" made in America....isn't that enough self sacrifice and suffrage!!!!

[DKjaigen]

You know that 99% of the problem was not caused by China but by our own leadership, rich citizens and corporations right? Also consumers are at fault since they want cheap products. They refuse to buy American and refuse to have to pay a few sheckles more for goods. Consumers in this country do not even care if patents are stolen because they want cheap ass stuff.
!

Corporations are indeed to blame. But enough of your obvious deflection and tell me how America is going to keep its economic leadership with the current economic policy.

[Zan15]

Corporations are indeed to blame. But enough of your obvious deflection and tell me how America is going to keep its economic leadership with the current economic policy.

Still waiting for examples of how I am a Chinese Shill.
When do I get my check for all that Shilling?


Also I never said anything about current economic policy being anywhere near "leadership" levels. Its not. Its on a path to failure, but so is just about every other industrialized nation since they also practice the same economic policy.

What is said specifically is your suggestions have been tried in the past and failed, before you went off on me on some huge tangent.

[Fincayra]

I don't know why people live in this fantasy land the global supply chain is not going to vanish and even if you wanted to you can't because not every country has the resources, man power or expertise locally.

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Actually you are wrong China has spend decades shifting to a consumer consumption economy exports only now represent 20% of GDP. The reason for this is that China is no longer the cheapest place to make goods other third world countries have taken over. China in a decade or so will no longer rely on its export but on its own population for the vast majority of its growth as it matures.

I never said the global supply chain is going to vanish. But China has already turned back shipments of medical supplies that we purchased for their own use, and has threatened to withhold even more. You must live in a fantasy land yourself if you think only China has the resources, man power or expertise to manufacture those things.