SpawnedX

It doesn't matter who is in office, Obama, Romney, Mickey Mouse, the bum who lives in a box down the street, this economy is not going to do an about turn for the better in short time, no matter how much someone wants to believe it, or how amazing any economic policy is.

And while I absolutely despise Obama's weak stance with foreign politics, the world will always despise us and laugh at us, for many reasons not connected to politics at all. However, make no mistake about it, they still fear us, even today.

CRhodes

Reagan did it.

SpawnedX

Most economists now agree that Reagan's policies were more harmful than not and drove us to this point. It is of theirs, and mine, opinion that trickle down economics is an utter failure.

CRhodes

Got a link? Names?

SpawnedX

Greenspan:

http://www.youtube.com/watch?v=5GQecQ06xus

http://www.nytimes.com/2008/01/21/op...21krugman.html

You can read the author's biography. He is a professor in economics.

CRhodes

lol Talk about the pot calling the kettle black.

Here's a more accurate angle outlining how Greenspan himself was to blame.

http://www.guardian.co.uk/commentisf...pan-thinktanks

SpawnedX

Greenspan is just as guilty as Regan, if not more so, since Greenspan was more educated on the economy. However, it is what it is.

The flaw in the logic was that the wealthy were a river of money and it would all end in the ocean of people. The reality is that the people are a river of money and the wealthy are the ocean.

SpawnedX

The only way to fix this economy is to get cash flowing and get a handle on taxes. A static tax would be a good start. 20 or 25%, everyone pays the same percentage of their income, and no complaining about that tax level, because the debt isn't going to pay itself off.

Next is to come up with a plan to ease the tax burden on companies and corporations and to make it more expensive to manufacture and operate outside of our country.

From there the minimum wage needs to be adjusted for inflation and then indexed. A lot of business owners are actually on board with this. I will provide some reading information on it when I get home.

CRhodes

I concur with a static tax (of 15%), but minimum wage is just another form of entitlement; IMO it has contributed to the economic downgrade.

If we want to get back to "robust", we've got to eradicate all encroachments of socialism on our economy.

It has and will never work, anywhere. Capitalism is the cure.

SpawnedX

A minimum wage is needed, not because people are entitled to it, but because companies will never voluntarily pay someone a livable wage. The housing market, both rent and cost of houses, is so far above what people make for a 40 hour work shift at minimum wage that the lack of one just will increase poverty.