Conservative economic beliefs proves to be complete BULLSH*T

[Devils Advocate]

Remember when right wing idiots said that higher corporate profits means more jobs for Americans? Yeah, that whole trickle-down economics vomit they keep spewing long after it should have been kicked to death along with those who still swear by it. And I said that putting more money in the hands of consumers is what creates jobs? Well once again REALITY proved me right.

http://washingtonindependent.com/928...profits-surge]

Consumer Confidence Slumps as Corporate Profits Surge

By Annie Lowrey 7/28/10 10:52 AM

Yesterday, a report from The Conference Board showed that Americans’ confidence in the economy declined again in July, a result of a sluggish recovery and sustained high rates of joblessness. The main consumer confidence index has been falling more sharply than economists expected, from 62.7 in May to 50.4 in July — the lowest reading since February.

At the same time, corporate profits are soaring. But why are companies doing so well if workers are doing so poorly? Essentially, companies have cut costs to buoy profits while demand is falling: If a company’s sales have dropped 10 percent, it has compensated by cutting 15 percent of costs, for example. Additionally, big corporations are making more money overseas. [Must be all those damned socialist countries again.]

But rather than plowing profits into hiring, companies are sitting on a $1.8 trillion pile of cash. Ryan Avent flags a good example of the phenomenon:

At Ford, revenue in its North American operations is down by $20 billion since 2005, but instead of a loss like it had that year, the unit is expected to earn more than $5 billion in 2010. In large part, that is because Ford has shrunk its North American work force by nearly 50 percent over the last five years.

What does this mean heading forward? In the short term, nothing good. Consumers recognize the economy is crummy and withhold spending. Companies see no reason to expand: hiring more workers would winnow down their profits. Instead, they are holding cash and rewarding shareholders. Eventually, though, the detente should thaw — companies should start hiring again, meaning more workers spend more cash, meaning sustained corporate profits.

Don't ask me what reason the author has for thinking that last sentence. I'd call it wishful thinking. Face it folks the multi-national corporations have sold us down the river. They're going where they can make more money - all those socialist countries where the citizens have money to spend. Thanks again conservatives. Damn you all to Hell.

[Captain America]

I see right through you....."Devils Advocate"....not a name, but what you do.....I get it

[rastoy]

The companies are sitting on their cash because they have no clue what NoBama and his henchmen have planed for future taxes. If you have a billion dollars in cash you need to make a decision. Do you take the cash and expand the company now or wait until the socialist crooks make their play to get your money? If you expand now, the socialists are still going to take your money but after expanding you don't have the cash to pay the taxes and you need to borrow.

Corporations also need to take care of their shareholders. By paying dividends now, before those assholes let the bush tax cuts expire, the shareholders pay 25% on their dividends rather than the 60% (federal and state) next year.

It's the fear of this fucking government trying to redistribute your wealth.

DA, you need to learn how a business operates.

[gypsy chopper]

Tell it to the Obama camp.

Romer’s Research: Expiration of Bush Tax Cuts Will Be Highly Contractionary
By Randall Holcombe on Jul 15, 2010 in Budget and Tax Policy, Economics, Politics, Science, Taxation

Christina Romer, Chair of the President’s Council of Economic Advisers and economics professor at the University of California at Berkeley, has published an article (co-authored with David Romer) in the June 2010 issue of the American Economic Review titled “The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks.” Unlike her statements in her role as an Obama adviser, this article is serious academic research, published in what is generally recognized as the world’s leading academic economics journal.

In the article, the Romers divide legislated tax changes into those undertaken in response to economic conditions and those that are “exogenous,” by which they mean changes made for other reasons. The expiration of the Bush tax cuts clearly falls into the “exogenous” category, because it is the result of legislation passed years ago, before anybody could have anticipated the economic conditions under which they would expire.

What the Romers found is that exogenous tax increases, such as will occur with the expiration of the Bush tax cuts, “… are highly contractionary. The effects are strongly significant, highly robust, and much larger than those obtained using broader measures of tax changes.”

It will be interesting to see to what extent the insights of Christina Romer, economics professor, have an impact on what that same Christina Romer, adviser to the president, has to say in public about the impending tax rate increases.

[gypsy chopper]

Now....you can either lie, insult, or change the subject, dufus.
But you can't tell folks to save, and then whine when they don't spend.
Capitalists will sit on the money a while and watch the poor create jobs and drive the economy though purchases of beany-weinies, twinkies, and lotto tickets.

[rollinlarge64]

DA, you are missing 1 huge part of the equation-the biggest deficit in the history of our country, which will have to be payed for sooner or later.

Socialism takes money from those who earn it (through hard work) and gives it to those who sit on their asses and do nothing. I do not want to give my hard earned tax dollars to people who thing going to work means walking to their mail boxes and saying hello check. I don't mind helping those who need it, but welfare should not be your job, and having more kids should not be your way of getting a raise. This is what Obama wants to do.

How long will it be before those who live off the system out number those who pay for the system? I am sick of paying taxes so illegals and useless bums can sit on their asses and have as many kids as they cannot afford. Obama should not have made Obamacare his number one priority. He should close the borders, send all the illegals back to their country of origin, and start getting people off welfare and back to work. Oh I forgot, illegals and those on welfare are Obama's way of getting re-elected. Like the woman in the video said (from another thread) "he helps us, we help him). This is a pretty fucked up way to run a country.

[rastoy]

Rollin - the people who live off the system already out number those that pay taxes.
Now Nobama wants to increase that number.

It just hit me - if we send all the illegals back those people who live off the system could replace them in the work force. NAA NoBama would fight that since he might lose their vote.

[Milo Hobgoblin]

Apparently DA has never been to a socialist country or spoken with someone whose attempted to open a business in a socialist country.

[280chopper]

More and more small business owners are letting people go and taking up the workload themselves. NOBAMA has put the economy on hold at this point. Like said above. Why would anyone expand their business/workforce when they have no idea what this ass-clown and the rest of his thieves are going to do.......Instead any expansion money/workforce growth money is being put in the mattress until we can vote NOBAMA and this Congress out of office and get back to increasing the small business world which is the biggest employer sector in this country. Until then, not much other then things getting worse is going to happen........

[FRANKTHECRANK]

Why does CC member "Devils Advocate" have a picture of Captain America for an avatar,..........but CC member "Captain America" has a picture of a motorcycle for his?.............hmmmm.

And as far as DA's original post,...........I have a hard time reading much of his babble without getting dizzy, cause he puts so much spin on everything.

[Quade]

DA, feel free to speak your mind, as I am sure many other Vets would agree, you have that right. But, even though you have the right to free speech, we also have the right to not agree with you or pay any attention to your kind. Have you tried finding a political forum? That may be better suited to your incessant political bitching. So please, dont try to press your probama, left wing Nazism on the rest of us as we dont welcome it. Ride safe my friend.

__________________________________________
"Don't call it your country if your not willing to fight for it!"

[rastoy]

Wow, I found a cut and paste!


1. You cannot legislate the poor into prosperity, by legislating the wealth out of prosperity.

2. What one person receives without working for, another person must work for without receiving.

3, The government cannot give to anybody anything that the government does not first take from somebody else.

4. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation.

5. You cannot multiply wealth by dividing it.

[Quade]

Originally Posted by rastoy

Wow, I found a cut and paste!


1. You cannot legislate the poor into prosperity, by legislating the wealth out of prosperity.

2. What one person receives without working for, another person must work for without receiving.

3, The government cannot give to anybody anything that the government does not first take from somebody else.

4. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation.

5. You cannot multiply wealth by dividing it.

This is great rastoy! Absolutley great!!!! I couldnt agree more.

[FRANKTHECRANK]

DA and his fellow, left wing, sheep,..... following Obama's master plan.

[gypsy chopper]

That's the funniest thing I've ever seen.

Some Ayn Rand to drive them over the cliff a little quicker.

Government “help” to business is just as disastrous as government persecution… the only way a government can be of service to national prosperity is by keeping its hands off.

It only stands to reason that where there’s sacrifice, there’s someone collecting the sacrificial offerings. Where there’s service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master.

Whoever claims the right to redistribute the wealth produced by others is claiming the right to treat human beings as chattel.

Run for your life from any man who tells you that money is evil. That sentence is the leper’s bell of an approaching looter.