the result of decades of progress that put Americans at the top of the heap with average spending of $32,000 a year.Posted on 06/15/2015 5:05:05 AM PDT by expat_panama
Do Americans face a future of living standards that don't grow as fast as they once did or, worse yet, even decline? Previous generations might have scoffed at the question. Becoming better off in terms of consumption per capita was something of a birthright, the result of decades of progress that put Americans at the top of the heap with average spending of $32,000 a year.
But the long-established optimism has faded in recent years — and we have only ourselves to blame. The country has strayed from the economic model that created a consumer cornucopia. We're living above our means, one of a mere handful of countries with diminishing prospects for living standards.It's important to grasp what makes countries like the United States rich, while so many other places lag, and some even struggle with consumption per capita of less than $1,000 a year.
The focus usually centers on the physical, human and financial capital used to produce goods and services, earning income for consumption. Simply put, the richest countries have a lot of capital, the poorest ones have very little of it.
(Excerpt) Read more at news.investors.com ...
Yes but if we don’t get that corporate tax rate down we are never going to see any real manufacturing come back. We are turning into a service industry country and that is a death sentence.
All you proved is you are ignorant of history. You are not a bad fellow just uneducated in many areas.
I dunno, seems to me there are two things driving industry; fear and greed, patriotism(I know am a a throwback) and USA first attitude is dead. I am not sure if you reduced all tax rates and regulations to zero it would affect decision on utilizing virtual slave labor for production. Which is a shame because modern factories use very little labor per unit. There is no way to find out because zero tax rates will never happen unfortunaltly. The Corporate mindset is to off shore off shore off shore. It is like a Nazi brainwashing thing.
The UN needs to squelch US world influence to install the New World Order. Destroying the US economy is the best, fastest way to reduce US world power and influence. This is all part of the plan to destroy American economy and culture. The pace of it is accelerating.
Obama is just the latest president to carry out the destructive marching orders of his UN handlers. Daddy Bush did a very good job of it behind he scenes and Bill Clinton tried his best.
We are screwed. Pary to God and apologize to your grandkids.
If you reduce the corporate tax rate say by half it would bring billions of dollars of offshore money back into the US. Companies would flock here to open businesses and a lot of business’s would move back here.
If you are an out of work auto worker and you could get a job with a new non union auto manufacturer at $25 per hour instead of $38 per hour that you used to make wouldn’t you jump at it? That’s $52,000 per year before overtime. Not slave wages. I think we have to get past the unions in this country to get the country back on track.
Is there some reference to this online? Is the just "common knowledge"?
You are now, at the very least, thrice wrong.
When I meet a FReeper unable to learn the very basics of economics understood by the most ignorant schoolchild I suspect someone either very old and set in their ways or a troll.
Please watch and tell me where the harm occurs:
https://www.youtube.com/watch?v=8PL9yH-7vec
I noticed the little kids didn’t swap with and ChiComs in that commercial.
Excellent. So we’re coming to some agreement. Free trade between Americans (self-defined) is good, correct?
So if I were to sell you the product of my labor and both of us were Americans, not enriching any ChiComs in any way, that free trade would be good, correct?
Low information voters don’t understand that consumers pay the “corporate tax”, since it’s a cost incorporated into the price of the goods or services.
They hear “Corporate” and think “rich”....so they must be punished....
I believe in Free Trade in the USA, free markets inside the USA and competition between Americans. Foreigners are subject to tariffs as appropriate. As a matter of fact tariffs funded the USA when it developed into the most awesome economy in the world. Trade was an after thought until gloBULLism took over after 1970.
So if North Carolina decided to drop all taxes and go with a tariff system for all goods, domestic as well as foreign, crossing it’s borders would you be for or against that?
Tariffs between states is prohibited by the U.S. Constitution, and all domestically made products can be imported or shipped to another state tax-free.
I know, but if it were allowed would you feel that it was better than income, property, sales taxes?
If NC could switch to an all tariff system and eliminate taxes 100% for the citizens of NC would you view that as a plus for NC and its citizens, ignoring any effects on the US as a whole?
I see the game you are playing but it is stupid to say the least. I believe in America, American industry and American freedom inside America. Tariffing other American products would be stupid. That was the creates of the Constitution put the tariff clause. Sorry if you don't like it but that is the way it works.
Why?
You should read some history of the USA you missed a lot growing up I see,
Let’s leave America out of the equation. Going back to 1760, pre-America, would NC and its citizens be better off with a tariff system between it and every other colony and no other internal taxes at all?
Colonial Era to 1789
In the colonial era, before 1775, nearly every colony levied its own tariffs, usually with lower rates for British products. There were taxes on ships (on a tonnage basis), import taxes on slaves, export taxes on tobacco, and import taxes on alcoholic beverages.[11] The London government insisted on a policy of mercantilism whereby only British ships could trade in the colonies. In defiance, some American merchants engaged in smuggling.[12][13]
During the Revolution, the British blockade from 1775 to 1783 largely ended foreign trade. In the 1783–89 period, each state set up its own trade rules, often imposing tariffs or restrictions on neighboring states. The new Constitution, which went into effect in 1789, banned interstate tariffs or trade restrictions, as well as state taxes on exports.[14]
XOM is in buy territory, as is RDS/B.
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