The Right Likes To Bitch About Europe - The Failing UK Economy Now Shapes The 2012 Choice

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    Jan 03, 2012 11:02 PM GMT
    . http://www.therecord.com/iphone/opinion/article/478997--austerity-as-a-recession-remedy-is-failing-in-britain

    The latest to suffer the devastatingly negative impact of right-wing economic policies is the UK, which has begun to fall into a recession that's been caused by the harmful impact of the harsh right-wing austerity policies that have been implemented by the ruling right-wing Conservatives.

    These are the same anti-growth job-killing policies that the Repubs are advocating here in the US.

    God forbid that these anti-growth job-killing policies should get implemented here.
    As the economic news of today shows, the recovery is gaining steam, and we need to stay the course, not go back to the Repub policies that wrecked the economy to begin with.
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    Jan 03, 2012 11:18 PM GMT
    Your right !!! but how to convince the repubs that 10 years is proof enough that tax cuts don't create jobs, ORDERS HOWEVER DO.

    Add to that the fact that the buying public has little money to spend right now, and if more cuts to safety nets are put in place now it will only work to further squeeze the buying public and even lower demand causing more job cuts. This will in turn cut even more revenues from Government coffers exacerbating the problem even worse. Rather than cut safety net programs cut the wasteful Military spending and Corporate welfare, tax shelters. Big business depends on the masses spending, squeezing the masses further will only cut business demand further.
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    Jan 03, 2012 11:21 PM GMT
    What needs to be done is China put on a level playing field with everyone else.
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    Jan 03, 2012 11:53 PM GMT
    southbeach1500 saidThat's right RickRick,

    What we need is more federal income taxes on the 50% of the population that pays federal income taxes. That will fix everything. icon_rolleyes.gif


    Austerity is failing everywhere it's being implemented as it has every time its' been tried in the past. Even our resident "Paul Ryan" riddler cannot point to a single economy where austerity resulted in growth and increased employment.
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    Jan 04, 2012 12:03 AM GMT
    Christian73 said
    southbeach1500 saidThat's right RickRick,

    What we need is more federal income taxes on the 50% of the population that pays federal income taxes. That will fix everything. icon_rolleyes.gif


    Austerity is failing everywhere it's being implemented as it has every time its' been tried in the past. Even our resident "Paul Ryan" riddler cannot point to a single economy where austerity resulted in growth and increased employment.


    Didn't realize I was asked. However, given that the governments of europe can't actually do more stimulus than they have already done, what other choice do they have? You seem to claim that stimulus has worked and in the long run its costs are greater than its benefits - in fact, the higher interest rates will result in antistimulus.

    The issue that economists and other critics have of stimulus is that the effect is unsustainable - and worse, stimulus is often just used to grant political favors spent either inappropriately on infrastructure (see Keynes), or other programs that don't actually result in stimulus. Of course for those like you who don't understand that wealth is created it's more important to punish the rich and increase the size of government than it is to focus on economic growth.
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    Jan 04, 2012 1:15 AM GMT
    yourname2000 saidBut austerity isn't about not increasing government, it's about making it smaller...at a time when the economy is already weak, drawing back on spending now will weaken it further.

    I think there is a real argument towards major infrastructure development. Studies have show it's one of the best investments a government can make as far as ROI and it may be a viable compromise for those who want to draw down on wasteful government spending/ineffective programs and those who say government can be the one economic stability, if it doesn't pull the rug out from people currently depending on it.

    So, no matter what the country, it seems to me the debate should be "with many parts of the economy receding, is this the time for the government to also be pulling money out of the economy"....so a net expenditures thing. Cut anything you can that isn't on home soil, but if there's a wasteful program (for example: counting how many seagulls in the SF bay are lesbian), cut its funding and direct it towards repairing a bridge, or highspeed rail, or a new dam.

    Even though it's still expenditure with borrowed money, at least the investment will pay a dividend that can actually justify the cost.


    all well asked. Send up a flare if he answers you. icon_wink.gif
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    Jan 04, 2012 1:47 AM GMT
    southbeach1500 saidThat's right RickRick,

    What we need is more federal income taxes on the 50% of the population that pays federal income taxes. That will fix everything. icon_rolleyes.gif





    What we need is higher taxes on the wealthy and lower spending.

    Which is exactly what President Obama advocates!
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    Jan 04, 2012 2:12 AM GMT
    southbeach1500 said
    yourname2000 saidBut austerity isn't about not increasing government, it's about making it smaller...at a time when the economy is already weak, drawing back on spending now will weaken it further.


    Except that the government gets the money it spends from the very troubled economy that it is trying to "help." Crazy!




    SB come on !! its a known fact that Corps are sitting on billions, the Wealthy got even wealthier from Bush Tax cuts and are sitting on billions, Wall street and large banks profits are still rising as are their CEO salaries. They can afford to lose their corporate welfare, tax breaks and loopholes to pay for infrastructure improvements to put people back to work, Once the masses get money they have to spend it and it starts circulating and moving the economy, Demand goes up, more people are hired and the downward spiral started with Bush spending/borrowing on wars while cutting taxes is all reversed, slowly but surely.

    NO CRAZY, Its worked in the past where austerity just deepens the problem.
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    Jan 04, 2012 3:08 AM GMT
    realifedad said
    southbeach1500 said
    yourname2000 saidBut austerity isn't about not increasing government, it's about making it smaller...at a time when the economy is already weak, drawing back on spending now will weaken it further.


    Except that the government gets the money it spends from the very troubled economy that it is trying to "help." Crazy!




    SB come on !! its a known fact that Corps are sitting on billions, the Wealthy got even wealthier from Bush Tax cuts and are sitting on billions, Wall street and large banks profits are still rising as are their CEO salaries. They can afford to lose their corporate welfare, tax breaks and loopholes to pay for infrastructure improvements to put people back to work, Once the masses get money they have to spend it and it starts circulating and moving the economy, Demand goes up, more people are hired and the downward spiral started with Bush spending/borrowing on wars while cutting taxes is all reversed, slowly but surely.

    NO CRAZY, Its worked in the past where austerity just deepens the problem.





    Yup.
    Helping to put more money into the pockets of the Great American Middle Class of consumers is the way to fire up the economy.
    When middle class Americans have more money, they spend it on goods and services, and corporate and small business profits go up, which leads to expansion and hiring.

    Helping the richest 1% of Americans has been proven time and time again to lead to an explosion of Republican debt, repeated Republican recessions, and a big widening of the gap between the rich and the other 99% of us.

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    Jan 04, 2012 4:41 AM GMT
    southbeach1500 said
    realifedad said
    southbeach1500 said
    yourname2000 saidBut austerity isn't about not increasing government, it's about making it smaller...at a time when the economy is already weak, drawing back on spending now will weaken it further.


    Except that the government gets the money it spends from the very troubled economy that it is trying to "help." Crazy!




    SB come on !! its a known fact that Corps are sitting on billions


    But that's not income anymore. Are you proposing a "confiscation of wealth" tax?


    I think wealth should be taxed as it is in England. It would encourage people to invest and not sit on idle assets.