It's The Economy, Stupid (Nation: Election Results Weren't Just Driven By Iraq War -huh???)

The Nation ^ | 11/21/06 | Christopher Hayes

[durasell]

"Unearned income" is simply an American euphemism for European socialist ranting against the "rentier class".



Uh, no. It's a legal term incorporated into tax code.



http://www.investorwords.com/5141/unearned_income.html

[oblomov]

Because of the arrogant attitude of developers and municipalities after Kelo, they ended up dropping the buttered toast right on the floor: eminent domain for private development is almost impossible now in Indiana, and in many other states. Looks like the dullards in the flyover states didn't accept the fate you planned out for them.

[hedgetrimmer]

The middle and the bottom do not create jobs

In a free enterprise system everyone creates jobs. In the globalist socialist vision currently promoted by the globalist democrats and republicans, the international elites create the jobs and the rest of us are just serfs.

From which side do you hearken?

[oblomov]

I know that it's a legal term, and that it is part of the tax code. Just because the government says so doesn't mean that it has moral legitimacy. Taking risk is work, and income derived from risk-taking is earned.

[hedgetrimmer]

More people in foreign countries benefit from imported $2 socks than benefit from American $5 socks.

If Americans cannot produce as good or better quality sock for the same price, then they should get out of the sock business and find something they can do competitively.If so-called "slave" labor can produce a higher quality product that our domestic skilled labor can... I guess it's not much of a skill then, is it?

America repudiated slavery starting with the civil war. No matter to you global elites who find the money you make from slavery, ample reward for the misery you create for your fellow human beings.

[KMAJ2]

['Most' people have no clue about economics and fall prey to emotional appeals and arguments.]

Correction noted and agreed.

[durasell]

You're arguing tax code semantics? Okay, that's a new one...

[KMAJ2]

You need to study your economics. You had every socialist strategy in there couched in emotionally appealing rhetoric. You had redistribution of wealth, you had government dictating wages, you had the issue of wage 'fairness' dictated by the nanny state. ALL are anti-capitalism and anti-economic freedom. Then you throw in the protectionist and isolationist message. You might as well sign up to become a left wing democrat to endorse that, because it was Karl Marx in sheep's clothing.

[meadsjn]

You're right. I must be deluded.

You're probably OK. The deluded ones are the "free traitors" who just got all their limbs whacked off like the guy in the Monte Python skit, and they are still yelling "come back here; I'll bite your leg off".

[John Lenin]

You sound like a commie. No one owes you anything, you should be glad you have a job to go to.

[meadsjn]

In a free enterprise system everyone creates jobs. In the globalist socialist vision currently promoted by the globalist democrats and republicans, the international elites create the jobs and the rest of us are just serfs.

Correct. 70% of economic activity in the US is consumer spending -- you could rightly say that consumers create 70% of US jobs. And if consumers lose buying power, as they have in the last few years, they will be creating fewer jobs.

Investors create offshoring and downsizing, import H1-Bs and illegal aliens. Obviously, the majority of voters consider themselves more as producers than investors, even though their 401K and insurance funds are in the market. On election day, they vote their pocketbook today, not 30 years into the future.

[rhombus]

There are two sides, eh? I guess I'm on the other side of this side...maybe I'm on the other side of that side...hmmm. I shop at Walmart. I suppose that answers your question.

[durasell]

I shop at Walmart. I suppose that answers your question.





The question being: How do you create wealth and jobs in China?

[rhombus]

I create jobs at Walmart, the largest employer in the US.

[durasell]

Oh...

[durasell]

Here's a list of the nation's largest employers. Gives you an new perspective of where we are as a country.

Company Employees
1. Wal-Mart 1,800,000
2. McDonald's 447,000
3. United Parcel Service 407,000
4. Sears Holdings 355,000
5. Home Depot 345,000
6. Target 337,000
7. IBM 329,373
8. General Motors 327,000
9. General Electric 316,000
10. Citigroup 303,000
11. Ford Motor 300,000
12. Kroger 289,000
13. Albertson's 240,000
14. United Technologies 222,200
15. Verizon Communications 217,000
16. FedEx 215,838
17. Safeway 201,000
18. Altria Group 199,000
19. Aramark 195,000
20. Berkshire Hathaway 192,012
21. AT&T 189,950
22. Delphi 185,200
23. Bank of America 176,638
24. JP Morgan Chase 168,847
25. Yum Brands 165,920
26. HCA 165,450
27. Lowe's 164,794
28. PepsiCo 157,000
29. Walgreen 155,200
30. Wells Fargo 153,500
31. Boeing 153,000
32. Darden Restaurants 150,100
33. Hewlett-Packard 150,000
34. Gap 150,000
35. JC Penney 150,000
36. Starwood Hotels and Resorts 145,000
37. Marriott International 143,000
38. Sara Lee 137,000
39. Lockheed Martin 135,000
40. Walt Disney 133,000
41. Alcoa 129,000
42. Northrop Grumman 123,600
43. Electronic Data Systems 117,000
44. Honeywell 116,000
45. Johnson & Johnson 115,600
46. Lear 115,113
47. Starbucks 115,000
48. Emerson Electric 114,200
49. CVS 114,000
50. Tyson Foods 114,000

[rhombus]

I beg to differ in this respect: there are lots of middle class folks who are small business owners and who do employ one or more people. And we all know small businesses make up the bulk of the economy.

You make a good point and I agree with you. These small coffee shops, lawn care companies, construction companies, etc create lots of jobs and suffer from the burdens of Gov't regulation and mandates regarding minimum wages and benefits. Unfortunately it is all too tempting for these small businesses to hire illegals as a way just to stay in business. Certainly the larger meat packing facilities and growers are also responsible but any crack down on illegals would severely impact small businesses which DO as you point out create legal jobs too. I suspect that given the economy inherited by Bush that is one reason he delayed doing anything about immigration and wanted to create a guest worker program...to assist small and medium sized businesses.

[rhombus]

Gives you an new perspective of where we are as a country.

I'll say...we buy stuff, we eat stuff and we deliver stuff to each other. :-) I was also surprised to see that GM and Ford were still so high. Where's Toyota? I always hear from liberals how Toyota has plants in the US and employ lots of people too. It seems they avoided hiring that many people. I expect the UAW is not pleased.

[AlexW]

"a northern free labor cotton farmer"

Now, that is a REAL oxymoron !

[durasell]

I'll say...we buy stuff, we eat stuff and we deliver stuff to each other. :-)




But we ain't making a lot of stuff.