Europe embraces socialism and sinks further into debt
BrianD3
2012/05/07 11:31:24
|
|
|||||
|
11 votes
|
|
28% | |||
|
20 votes
|
|
51% | |||
|
8 votes
|
|
21% | |||
The recent elections and the peoples reactions to the results demonstrate quite clearly that no one in europe is interested in austerity mesures. These slaves to the government entitlement drug are hooked and do not have the will to endure the withdrawal symptoms.
Top Opinion
-
WE are heading in the same direction
Britain’s Office for National Statistics confirmed on Wednesday that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage equal a recession.) On Monday, Spain officially fell into recession for the second time in three years. Portugal, Italy and Greece are already basket cases, and it seems highly likely France and Germany are also contracting.
What’s the problem with Europe? Don’t blame it on the so-called “debt crisis.” There was no debt crisis in Britain, for example, which is now experiencing its first double-dip recession since the 1970s.
Blame it on austerity economics – the bizarre view that economic slowdowns are the products of excessive debt, and so government should cut spending in a slowdown. Germany’s insistence on cutting public budgets has led Europe into a recession swamp.
It seems they have forgotten two critical lessons.
First, that the real issue isn’t debt per se, but rather the ratio of the debt to the size of the economy.
In their haste to cut the public debt, Europeans have overlooked the denominator of the equation. By reducing public budge...
Britain’s Office for National Statistics confirmed on Wednesday that in the first quarter of this year Britain’s economy shrank .2 percent, after having contracted .3 percent in the fourth quarter of 2011. (Officially, two quarters of shrinkage equal a recession.) On Monday, Spain officially fell into recession for the second time in three years. Portugal, Italy and Greece are already basket cases, and it seems highly likely France and Germany are also contracting.
What’s the problem with Europe? Don’t blame it on the so-called “debt crisis.” There was no debt crisis in Britain, for example, which is now experiencing its first double-dip recession since the 1970s.
Blame it on austerity economics – the bizarre view that economic slowdowns are the products of excessive debt, and so government should cut spending in a slowdown. Germany’s insistence on cutting public budgets has led Europe into a recession swamp.
It seems they have forgotten two critical lessons.
First, that the real issue isn’t debt per se, but rather the ratio of the debt to the size of the economy.
In their haste to cut the public debt, Europeans have overlooked the denominator of the equation. By reducing public budgets, they’ve removed a critical source of demand — at a time when consumers and the private sector are still in the gravitational pull of the Great Recession and can’t make up the difference. The obvious result is a massive slowdown that has worsened the ratio of Europe’s debt to its total GDP and is plunging the continent into recession.
A large debt with faster growth is preferable to a smaller debt sitting atop no growth at all. And it’s infinitely better than a smaller debt on top of a contracting economy.
Experience has shown that the economy booms when taxes are high and slumps when tax cuts kick in. Go look it up.
The Republican plan is not the way to go. We need to raise taxes on the wealthy and corporations, close loopholes, and re-invest in America.
Raisning taxes on the wealthy does little to help if we do not make major cuts to spending.
We should not single out a particular group for unequal treatment, we ought to institute a flat tax with no loopholes, deductions or credits. Let the liberals set the single tax rate at any level they wish.
we have a spending problem, dont be fooled. We as individuals and collectivly as the free market can spend OUR money much more effeciently that some bloated, union corrupted government agency.
lol.
1 euro buys 1.3 dollars. That's actually down, in lieu of the recent uncertainty, usually it's close to 1.5 to 1 in favor of the Euro. Which is why Europeans have been vacationing in America more, everything is dirt cheap here.
next time you want to argue economics with an MBA, double check your facts.
https://www.google.com/search...
Another would be that socialism isn't exactly a horrible business model. That's the view the NFL takes.
Even though the laffer curve is wildly inaccurate as a predictive tool, you do not believe that there is an element of truth to the idea that there is an upper limit to taxation where the marginal utility of increase is greatly diminished or that at some point there will actually be a negative effect upon revenue?
France is proposing a 75% tax on the wealthy, you do not see that as having a dampening affect upon investment and the economy?
You know the 50's, the good old days the republicans want to take us back to? but this time, somehow without paying for it.
You want a big army? You want extensive foreign policy protecting our interests? You gotta pay for it. You want the elderly and the young to be taken care of and not be left to die in the street? you gotta pay for it.
Paying taxes is a patriotic duty. You love your country? You like the economic environment it provides for you to be successful and support your family with? You gotta pay for it.
You like having agencies that make sure your toothpaste doesn't kill your family with lead poisoning, and keeps the urine content in the drinking water to a minimum? It's not free.
Of course with a global economy you have to be careful, but in America, a 35% high end tax rate, with NO LOOPHOLES in the tax policy, would leave us with a healthy surplus.
That's the liberal economic agenda. That's why warren buffet is voting for Obama. That's why i agree with him.
but i'm not a lobbyist.
In Europe its 10% THEM 90% THE REST
I voted for Hollande (the new Socialist president of France), mostly because he wants to stimulate growth.