Posted on 02/08/2016 9:03:04 AM PST by Signalman
Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%.
Those are just a few of the things that would happen if Bernie Sanders became president and his ambitious economic program were put into effect, according to an analysis given exclusively to CNNMoney. The first comprehensive look at the impact of all of Sanders' spending and tax proposals on the economy was done by Gerald Friedman, a University of Massachusetts Amherst economics professor.
Friedman found that if Sanders became president -- and was able to push his plan through Congress -- median household income would be $82,200 by 2026, far higher than the $59,300 projected by the Congressional Budget Office.
In addition, poverty would plummet to a record low 6%, as opposed to the CBO's forecast of 13.9%. The U.S. economy would grow by 5.3% per year, instead of 2.1%, and the nation's $1.3 trillion deficit would turn into a large surplus by Sanders' second term.
(Excerpt) Read more at money.cnn.com ...
The Big Rock Candy Mountains
Harry ‘Haywire’ McClintock wrote his first song, the story of “Big Rock Candy Mountain”, around the turn of the last century.
In the Big Rock Candy Mountains
There’s a land that’s fair and bright
Where the handouts grow on bushes
And you sleep out ev’ry night
Where the boxcars are all empty
And the sun shines ev’ry day
Oh, I’m bound to go where there ain’t no snow
Where the rain don’t fall and the wind don’t blow
In the Big Rock Candy Mountains.
Oh, the buzzin’ of the bees in the peppermint trees
‘Round the soda water fountains
Where the lemonade springs and the bluebird sings
In the Big Rock Candy Mountains
In the Big Rock Candy Mountains
You never change your socks
And little streams of lemonade
Come a-tricklin’ down the rocks
The hobos there are friendly
And their fires all burn bright
There’s a lake of stew and soda, too
You can paddle all around ‘em in a big canoe
In the Big Rock Candy Mountains.
Oh, the buzzin’ of the bees in the peppermint trees
‘Round the soda water fountains
Where the lemonade springs and the bluebird sings
In the Big Rock Candy Mountains
No, they don’t see the money as a tribute to god/guv.
They see the money as rightfully belonging to themselves
just because, well, they’re here and alive. I have to
say they have some precedent for that. Obama won
the Nobel Prize for just being who he was.
An honest “capitalist” world of people who in turn in large measure seek blessing from the Lord, is the best we can get today. And often that does quite well. Often the issues that socialists have aren’t even issues of reality as much as they are issues of tribute and pride.
But unlike God, they can’t actually “fiat” blessings into existence. Instead we get tragicomic shams.
Jobs in Singapore and Hong Kong in the financial sector would probably become more numerous as the American Financial sector relocates there en masse. Manufacturing jobs in the the Third World might well proliferate for similar reasons.
This is something God can do, but people can’t.
“Under capitalism, goods and services are distributed through private, voluntary exchanges. When people engage in volitional transactions, everyone benefits. If we believe a transaction is in our best interest, we have an incentive to maintain good relations with those with whom we’re trading. Thus a society based on freedom and trading promotes good will and civility. Our free-market system has produced the greatest prosperity in human history.
There are no property rights under socialism. Goods and services are distributed by force through political means. Everything you possess is subject to confiscation and redistribution. Industrious and productive people are punished; parasites are rewarded. When people come to believe they have a right to goods and services produced by other people, society disintegrates into squabbling factions. If socialism is allowed to progress to its logical extreme, it culminates in a military dictatorship like North Korea.
Socialism isn’t so much a legitimate economic system as it is a moral failing. It will always exist because ignorant people will always want something for nothing.”
David Deming
http://newsok.com/article/5475578
Well, they want to be the force behind that god of government (to be the more than equals, as Animal Farm put it). But it has to have a government that is due tribute first, before it can go any further.
Stalin is dead and things have begun to lighten up a bit relatively speaking. An old couple live in an apartment in Moscow and she sends him down to buy some meat for supper. After queueing for the obligatory three hours he gets to the counter and the woman says ‘No more meat, meat finished’. He cracks and starts raving ‘I fought in the Revolution, I fought for Lenin in the First World War and for Stalin in the Second World War and we are still in this shit?’ One of the leather-jacketed brigade takes him on one side and says ‘Look old man you know you can’t talk like this. Just think, a few years ago you would have been shot for saying these things.’ The old man trudges home. His wife seeing him empty-handed says ‘Run out of meat again have they?’ He says: ‘It’s worse than that, they’ve run out of bullets.’
Good one.
Have you seen The Chekist?
https://www.youtube.com/watch?v=_RQVSHfuPCQ
That is by far, the most depressing film ever made.
LOL.
If Gerald would like to argue his analysis, I’ll be happy to accommodate him.
The caveat being if I prove Gerald wrong, to Gerald himself, he has to take a sabbatical for one year.
What say you, Gerald?
5.56mm
Well, he’s right.
Income AND jobs would soar... GOVERNMENT jobs, IRS jobs.
THAT’S it. THAT’S ALL.
Everybody else either becomes a slave or just plain down and out.
They really believe that socialism is the salvation of the country.
LMAO Sanders would finish off what Obama couldn’t do and end our misery. We would all be commies hoping for a piece of the government tit. If that happens we are doomed.
The article serves as one of N proofs (where N is a large number) that until the lib arts types clean up the slime infecting their fields, the title “Professor” should be used only for those in the STEM fields.
Yes we STEM types do have our D grade “science clowns” currently pushing CO2 problems, but at least we have lists of hundreds and hundreds of REAL physics types who have thoroughly debunked them and their second grade math.
However, in the pseudo-science field of economics, this clown reaches Krugman levels.
True....the only bumper stickers I see are for Bernie. There is a lawn sign just across the street.....they live off the government the best I can tell. They are smart enough to know who will be their next enabler.
Median income versus mean (average) income.
The easiest way to increase the median, it seems, is to take away from many/all who are in the top 50%.
Well it seems strange the meekness that has greeted the latest Obamacare fiasco. If you worked for somebody who granted health insurance as a benefit, you need that precious Form 1095 to file your taxes, and now due to the severe confusion they may not come out by the time tax filings are due, let alone the time when people might ordinarily have wanted to make tax filings.
And instead of breaking out the proverbial tar and feathers, people are just saying “Yes, master.” A Congressional fix for this ought to be easy, but the King of Obamacare will not consent.
Bernie is only being honest. He’s saying commit to the slavery you already acquiesced to.
Many economists receive their money directly or indirectly from a governmental source. Which is why many of their theories end with “and government revenues will increase by 20%.” That is the whole objective of the exercise to begin with.
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