Here come foreigners with their food trucks. Here's your lunch, it's wrapped in a piece of paper, or in a paper bowel. Remember when we used to go into restaurants and they washed the dishes? You could sit down look at a menu, order, and actually afford the prices. |
| The really sad thing is that whoever cleans up Trump's mess is going to get blamed for inflation and/or increasing the debt. We saw this happen as Biden cleaned up Trump's first mess. |
What do you think pays for the education and infrastructure spending? The economy! The two are linked and the inevitable end of American economic dominance was always going to be felt in everything else about American society. Wealth hoarding is a problem, but it is not *the* problem. In 1970 Social Security and Medicare spending amounted to just under 4% of GDP (or about 20% of the federal budget). Today it is around 9% of GDP (or almost 40% of the federal budget). That is a delta of about $1.5 trillion per year in incremental spending over 1970. If you make the extremely aggressive assumption that you can achieve 100% tax efficiency and taxed all the wealth of American billionaires, you would collect about $8.5 trillion, or just about 5.5 years of the incremental spend on Social Security and Medicare(again, this is just 20% of the federal budget). See the problem? The math here is just absolutely brutal. And while it is easy to blame this on billionaires and greed, it is clear the fix won’t be from taxing them. I think there are good policy reasons for these proposed taxes, but it isn’t going to fix what politicians are promising it will fix. Note: I don’t mean to suggest social security or Medicare are *the* problem or any other specific issue. We have an aggregate spending problem that cannot be solved with additional revenue. A 100% wealth tax would crash asset values and the collections from such a tax would be a fraction of curren wealth values so the money would be a much smaller amount that would actually only pay for fewer years worth of expenditures. |
Ah yes, good old all-American restaurants like McDonald’s and Burger King, where your lunch comes…wrapped in a piece of paper. And of course there are no foreign sit-down restaurants, in this fantasy world. |
|
Also, we did have to export the jobs once we decided on the international rules based order of organizing the world. The basic trade was:
The western world gets peace and stability. America gets worldwide dominance of the US dollar and reserve currency status (along with being the world’s weapon’s manufacturer). Once that trade was accepted, then it was only a matter of time before the jobs would be exported as other countries would use the relative advantage of weaker currencies to take low skill jobs from us. Also related, the reserve currency status of the dollar makes us a destination for unskilled, undocumented labor as those dollars can be shipped back home. Look, I am an isolationist and a protectionist. I am not defending this and would have preferred something much different. But once the international rules based order of the post WWII era was set in place it was always going to end up like this. |
The thing is our government revenue problem was mostly self inflicted. The math here is brutal we spend half of our taxes on interest. These don't go towards services. They go into bond holders bank accounts. This is just fiscal mismanagement. Frankly those that have the most access to lawmakers are the most responsible for this situation. So even if such wealth taxes are merely punitive. There is some value in punishing those that have so poorly managed the finances. Though having said that. Taxing wealth directly has some economic upsides. It doesn't punish capitalists for producing goods efficiently in the way of profits. It would ensure that the wealthy keep their assets gainfully employed. If their assets are producing profits then they will evaporate, which I am fine with. You don't get to have a massive company that drives every other out of business then just milk the monopoly cow 1% profit or whatever. |
We need to push back on this narrative. Dems need to say over and over and over that they are the party of fiscal conservatism, which includes public assistance and financing stuff like cancer research and climate change policies because it saves us $$$$ in the end. I'm sure if you look at MAGA/GOP Congress's personal finance they operate very, very differently than how they run the US, which is sign number 1 of a gazillion they're grifters and liars. |
That's a third-grade version of what happened. The first few contacts wrote home, "avoid north America, poison tipped armor piercing arrows, go to the Caribbean instead", Only after diseases spread did Europeans get a foot hold on North America. At that point the land was very sparsely populated, so the Natives had more land than they knew what to do with, most of the tribes that remained were extremely rural and remote. |
I don't think it was necessarily a matter of time. You're neglecting capitalism in all of this. Walmart is largely responsible for pushing manufacturing to Asia. They told manufacturers that they wouldn't shelve their item unless they lowered it's price. Well, companies were put in a bind >> miss out on Walmart and the risk that entailed or lay off staff to get on Walmart's shelves by retaining management and shifting manufacturing to Asia. It caused a cannibalism among small towns. The Etch-A-Sketch town laid off it's workforce, so they were forced to shop at Walmart. As a result, they put the Mr. Potato Head town out of business, and repeat over and over. Now, the Walton family has several multi-billionaires and use up quite a bit of taxpayer $$ by underemploying their staff to shrink benefit outlay. Greed is how we got here. It's the people (red and blue voters) against the broligarchs. |
Why are food trucks even a thing. As previous posters stated you need to get out of your suburban franchise paradise it does bad things to your logic. Do you consider a global corporation like McDonald's run by a immigrants, American? This is where liberals don't understand who we're talking about. It's like calling panda express chinese. The fact that you can't think of any other restaurants is just more fodder for my argument. |
This is partially correct. Revenue since 1970 has hovered around 15-20% of GDP. We are currently at a relative low on the bottom end of that range. A huge part of the problem has been that when times have been flush we have expended spending rather than cleaning up the balance sheet. This is also observed at the local level where blue states are struggling with spending they expanded during COVID. Frankly, it is one of the reasons I am anti tax raising. Raising taxes to clean up the mess would be great. But guys like Bernie Sanders are proposing higher taxes and expanded entitlements. Will only make the problem worse in the long run. I don’t quite understand your last paragraph. |
Yes, it was inevitable once the dollar was the world’s reserve currency. If not Walmart, it would have been someone else. You cannot have: (A) Reserve currency status within the international rules based order that America was to lead; and (B) A protected economy. You have to choose between the two. Once our leaders chose A, the decline of American working and middle class was only a matter of time. Stated differently, you could have globalization and all the benefits it entails (international peace, open borders, etc) or you could protect the American economy. You could not have both. I understand why after the horrors of WWII the choice for (A) was made, but we are paying the price today. Capitalism only describes people acting in their (perceived) atomized best interest. |
What argument? You’re bending yourself into pretzels trying to come up with gotchas, and failing spectacularly. It’s hilarious that you’re trying to lecture everyone else on logic when your posts are riddled with fallacies, cognitive errors, bad unsupported assumptions, cherry-picked examples, and outright hallucinations, such as claiming that the CEO who runs McDonald’s, Chris Kempczinski, was not born in America. No wonder grifters target MAGA. They can get you to believe anything, because facts don’t matter to you. |
So you are saying the people who were on the land didn't have the right to defend themselves to random newcomers who, as it turned out, wiped them out? |
This has manifested as the GOP crashes the economy (bush, bush Trump) and the democrats clean it up (clinton, Obama, Biden) - if the dems had ever had sustained control of the government, our debt would have been reduced, not just the rate of spending. Bu the American public was suckered into believe the GOP was the party of fiscal restrain...how LOL is that? |