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itai195 · Oct 27, 2006, 06:28 PM

Originally Posted by Doofy

Depends what you mean by "great economy". IMO, growth isn't a pre-requisite for a good economy. See, the thing about growth is that sooner or later you end up with nothing to grow into. Stability is much more important.

What do you consider stability to be?

Doofy · Oct 27, 2006, 06:41 PM

Originally Posted by itai195

What do you consider stability to be?

A gentle upwards trend without emphasis on "growth".

Imagine two homeowners.
Homeowner A moves house every two years into a larger property, does it up, moves again, stretches the mortgage. That's growth.

Homeowner B stays put, prefers to put money into savings. Maybe he'll move when the time is right and he's saved enough to pay cash for it. That's stability.

If everyone does the "A" thing, pretty soon the top end of the market gets locked solid (something which the UK market is showing at the moment) and this slowly filters down to the rest of the market. If the housing market collapses, A is screwed, big time - while B will be sitting pretty.

nath · 01:20 PM

Originally Posted by Doofy

Imagine two homeowners.
Homeowner A moves house every two years into a larger property, does it up, moves again, stretches the mortgage. That's growth.

No, that's growth in the housing market. Brits do tend to get almost myopically obsessed by it, but it's not the only show in town. E.g. both exports and manufacturing are up this year. Hence...

Originally Posted by Doofy

If everyone does the "A" thing, pretty soon the top end of the market gets locked solid (something which the UK market is showing at the moment) and this slowly filters down to the rest of the market.

UK growth for this year is forecast at 2.6% per cent by most analysts, higher even than the Treasury's most optimistic forecasts.

You've been predicting doom for the UK economy for a while now Doofy. Care to say when it's going to get here?

(I know it's inconvenient to your standard spiel for the longest period of sustained growth and economic stability to take place under a Labour administration, but honestly - where's the beef?)

Doofy · Oct 28, 2006, 06:23 PM

Originally Posted by nath

No, that's growth in the housing market.

No, that's an example.

Originally Posted by nath

UK growth for this year is forecast at 2.6% per cent by most analysts, higher even than the Treasury's most optimistic forecasts.

You've been predicting doom for the UK economy for a while now Doofy. Care to say when it's going to get here?

Yep. About three years ago. You just haven't noticed it yet.

Kevin · Oct 28, 2006, 07:35 PM

Originally Posted by probablecause

Increased spending after the attacks on 9/11!? How dare he try to bolster our defenses and try to track down those responsible. What a waste! Gee wiz, how come I didn't see that.

Esp after such things were cut to balance the budget in the 90s.

Kevin · Oct 28, 2006, 07:37 PM

Originally Posted by tie

Cut taxes for the rich. And eat up those free golfing trips.

I am not rich. And I favor it. Only if they were being over-taxed however.

You shouldn't be punished just because you have money.

This is what happens. The Dems will overtax the rich (Except for themselves) and claim it is "good for the people"

Then the Repubs will lower that tax down to a more FAIR level, and the Dems scream "THEY ARE FAVORING THE RICH@!!! THEY DON'T LIKE THE POOR!!"

It's just obnoxious. Not favoring the rich. Treating them fairly. NOT PUNISHING them.

hyteckit · Oct 28, 2006, 08:51 PM

Originally Posted by Kevin

I am not rich. And I favor it. Only if they were being over-taxed however.

You shouldn't be punished just because you have money.

This is what happens. The Dems will overtax the rich (Except for themselves) and claim it is "good for the people"

Then the Repubs will lower that tax down to a more FAIR level, and the Dems scream "THEY ARE FAVORING THE RICH@!!! THEY DON'T LIKE THE POOR!!"

It's just obnoxious. Not favoring the rich. Treating them fairly. NOT PUNISHING them.

You should watch what Bill Gates and Warren Buffet said about the Republicans tax policy. Warren Buffet and Bill Gates said the Republican's tax policy is outrageous and is too generous toward the rich and needs to increase taxes for the rich in order to make it fairer.

Doofy · Oct 28, 2006, 09:26 PM

Originally Posted by hyteckit

You should watch what Bill Gates and Warren Buffet said about the Republicans tax policy. Warren Buffet and Bill Gates said the Republican's tax policy is outrageous and is too generous toward the rich and needs to increase taxes for the rich in order to make it fairer.

The *only* fair tax is a flat tax - same rate for everyone, with no allowances. Period.

dcmacdaddy · Oct 28, 2006, 10:10 PM

Originally Posted by Doofy

The *only* fair tax is a flat tax - same rate for everyone, with no allowances. Period.

Yup! One flat rate for everyone and there are no deductions/exemptions/exclusions. It should be that xx% of every dollar/Euro/Pound you take in during a given year should go to the government and the rest you get to keep. Tax cuts and tax increases would go away. And everything should get taxed. Whether your money comes from salary or savings, gifts or capital gains, it should all be taxed at the same flat rate. There should be NO exemptions. Once the government gets it share the rest should be available to the individual and un-touchable by the government.

Kevin · Oct 28, 2006, 11:46 PM

Originally Posted by hyteckit

You should watch what Bill Gates and Warren Buffet said about the Republicans tax policy. Warren Buffet and Bill Gates said the Republican's tax policy is outrageous and is too generous toward the rich and needs to increase taxes for the rich in order to make it fairer.

So? It's simply not true.

The Top 5% of this nation already pay for 60% of the nations taxes.

You want them to pay more why?

King Bob On The Cob · Oct 30, 2006, 06:12 AM

Originally Posted by Kevin

So? It's simply not true.

The Top 5% of this nation already pay for 60% of the nations taxes.

You want them to pay more why?

Can I get a quote or a link to this? I want to be able to throw this at my g/f's mother next time she goes on a rant about how the rich don't pay enough taxes...

vmarks · Oct 30, 2006, 07:51 AM

Originally Posted by King Bob On The Cob

Can I get a quote or a link to this? I want to be able to throw this at my g/f's mother next time she goes on a rant about how the rich don't pay enough taxes...

http://www.jewishworldreview.com/col...iams021401.asp

"Let's first look at the "rich" and the taxes they pay. The top 1 percent of earners ($250,000 and above) paid 33 percent of all federal income taxes; the top 5 percent of earners (income over $108,000) paid 52 percent; the top 10 percent (income over $79,000) paid 63 percent; and the top 25 percent of income earners (income over $48,000) paid 82 percent, or $4 out of every $5 in income taxes."

The author, http://www.gmu.edu/departments/economics/wew/ , is an economics professor at George Mason University.