kergeten said:
mrstickball said:
kergeten -
I suggest you read Mafoo's post history before you lobby attacks against him, you ignorant jerk.
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In the 50's the rich paid around 90% tax, yet it was the period of the biggest economic boom in American history and guess what? The rich we're still filthy rich.
You assume they correlated. Do not forget that the 90% tax started under Hoover, prior to the great depression. If you want to argue output was great in the 50's despite the tax, you must also argue that it caused a lot of problems in the 30's, too.
Then when taxes started dropping on the rich with Reagan the quality of life dropped, only to get back up again with Clinton and then drop again with Bush,all the while the rich kept getting richer.
Could you quantify this statement, please? Is this your personal opinion, or are you using some sort of metric to argue this? The rich did not get richer - under George Bush (W), the gap between rich and poor closed moreso than they did under Clinton. So your statement is false.
Simple fact of the matter is the wealth has been redistributed, with the rich now owning more money then eve relative to the rest of the population.
And Bush/Obama are responsible for that via the reproachable bank bailouts and stimulus programs. The government should not provide welfare for businesses.
Also a house isn't stock in a company, it's a house and it should be sold at a fair price not inflated artificially, If I just bought a house and am happy I have place to live in, I don't care about it's market value. That's why the housing market is fucked up, it's treating houses like oil or diamonds, jacking up the prices to get as larger a profit as possible and guess what, people stop buying? Gasp, what people can't pay 400k for a house that cost under 50k to build? Good luck with fascist America.
Do you know why house prices went up? Do you know what a house costs? A $400k house doesn't quite cost $50k, buddy....I should know this, my brother is a realtor, and I've just got done with a massive rebuilding project at my apartment complex.
I digress, house prices went up because people were buying houses in record numbers, due to government incentivizing people getting loans (CRA 1999). The percentage of home owners in the US rose during the 90's and first half of 2000's. Unfortunately, those that got loans were unfit for such loans, which caused massive over-inflation of prices due to supply v. demand. When companies were too stretched with loans, the market collapsed - both due to businesses giving questionable loans, and the government that backed the loans. Fun fact: 40% of all government loans for housing in the past 5 years have been defaulted on. Your going to have a massive problem when that happens.
"Fascism should more properly be called corporatism because it is the merger of state and corporate power." -- Benito Mussolini
Exactly. Government should not own or control the means of production, and should not allow corporations to lobby a large government for favors. Mafoo and I advocate a smaller government that cannot hand out favors to any business, and does no business of its own.
If you want to read what Mafoo is thinking, read some Friedman.
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