Where is the US economy headed?

@okie,

Okie if you really do care about other people and not only your in group, please study ethics, neuroscience and also study other point of views that go against your own point of views and last but not least get a very good understanding of how we all have a serious problem with confirmation biases.

1 Reply

@squinney,

The voters are gullible, alright. Where I live, the same old tired Republicans who may or may not have been elected before but who run and run and run have retreaded themselves as Tea Totalitarians. Watch how everyone whose IQ is less than 90 and whose memory is as reliable as okie's will vote for those morons. Why? Because they see their pathetic selves in them and my children and grandchildren will spend the rest of their lives undoing their Gordian knots. That is if the air and water pollution doesn't kill them first.

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@plainoldme,

plainoldme wrote:

I don't understand how you have the patience to remind okie and his sock puppets of everything that okie can not remember. Jeez! He sounds like a member of the either the raygun or bush I or bush II cabinet testifying before Congress. "I don't remember . . ."

Now I do remember Hillary saying that a bunch of times, "I don't recall," or "I don't remember."

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@okie,

When are you going to realize that anyone with a memory as abysmal as yours has no right to warn anyone of anything? How can you forget what you write, unless, of course, you are running that many sock puppets. If you are running sock puppets, get something you can leave by your computer . . . a file folder, a tablet or a Roll-a-dex and write out what you wrote as which sock puppet.

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@parados,

I would never claim honesty for okie . . . or intelligence . . . or analytical skill.

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@okie,

Quote:

As I have participated on this forum and have peered through the windows into the thinking of others, and also through observation throughout my life,

You looked through a glass darkly . . . smeared with your prejudice and misconceptions. How many participants here have told you to use reputable sources and solid definitions that are widely accepted rather than your own "observations?"

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@cicerone imposter,

This is a recent post by okie from the American Conservatives thread that demonstrates how often and how hard he pats himself on the back:

Quote:

I believe I have not only earned the right to express my opinion, but I also believe that my life experience, education, and accomplishments qualify my opinions to be not only valid, but sensible and reasonable

Among okie's accomplishments are having run a business for 25 years. I have a friend who has no college degree but who has run a business for that long. Her business survived having the building in which it was cited sold out from under her. She moved two or three miles from her original location and carried on.

1 Reply

@okie,

okie wrote:

Quote:

... except you are so partisan ...

This is the kind statement that shows you are unawares of what you post on a2k. Your partisanship has been burned into stone, and all of us who has ever read any of your post knows where you stand on most things. The only problem you have is the simple fact that you have rarely, if ever, provided anything evidenced from reality.

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@plainoldme,

I do not believe it is unreasonable to assign more credibility to peoples opinions about the economy if they have real experience in business and commerce. And I do not think that working for the government is all that impressive as a resume for politicians. If a politician has been successful in business or in a career other than government, I would consider that as pertinent to judging them as credible candidates for office.

1 Reply

@plainoldme,

plainoldme wrote:

If you think Obama is anti-capitalist, I have a bridge to sell to you.

Keep drinking that Kool-Aid and ignoring the facts.

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@reasoning logic,

http://www.youtube.com/watch?v=HumMyN0Q8Gc&feature=channel

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@H2O MAN,

There is nothing I hate more than that stupid Kool-Aid remark.

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@H2O MAN,

http://able2know.org/topic/162491-1#post-4384221

Leave plain-old-me alone, she can't READ the facts. It's not kool-aid it's illiteracy. Exclamation

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@okie,

I see you are playing your usual crap okie. When you don't have an argument attack your opponent and accuse them of stuff that you have no evidence to support.

No, I don't work for the government.
No, I don't work for a Democratic organization.
No, I don't work for Moveon.org.
I never claimed to be a lawyer

You just love to make stuff up, don't you okie?

Why would it make someone dishonest if they don't tell you what they do for a living okie? Do you normally consider people dishonest until they tell you what it is they do for a living? Do you think that is a rational reaction to people?

What makes a person dishonest okie is when they tell repeated lies which is what you have done.

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@parados,

okie's imagination is his strongest suit; the only problem with that is he believes what he posts on a2k. He still doesn't understand that his opinions without being factual or support from credible sources still has merit. His ego won't allow for anything else.

1 Reply

@cicerone imposter,

okie doesn't have much of an imagination. Most of what he posts he gets from Hannity, Beck and Limbaugh. He just doesn't have the ability to fact check anything they tell him. Note his repeating the 50% of income goes to pay taxes argument. It's complete and utter hogwash but he was told that by his "heroes" so it must be true.

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@parados,

It turns out he (okie) was referring to the taxes he pays on a personal business whose proceeds he reports on schedule C. In such a case he pays a 14% self employment tax on earnings PLUS Federal and State income taxes at the marginal rate for his total earnings. Together these alone could easily reach 62% - even without any property or use taxes which are also paid.

I suspected this and that is why I included the analogous payroll taxes for a corporation in my analysis that followed his original assertion and your complacent, contemptuous and, as it turns out, incorrect response.

1 Reply

DO YOU CARE? SHOULD YOU CARE?

Quote:

24 Statistics About The United States Economy That Are Almost Too Embarrassing To Admit
Posted: 16 Oct 2010 04:55 PM PDT
The Economic Collapse Blog brings you the 24 Statistics About The United States Economy That Are Almost Too Embarrassing To Admit:
#1 Ten years ago, the United States was ranked number one in average wealth per adult. In 2010, the United States has fallen to seventh.
#2 The United States once had the highest proportion of young adults with post-secondary degrees in the world. Today, the U.S. has fallen to 12th.
#3 In the 2009 “prosperity index” published by the Legatum Institute, the United States was ranked as just the ninth most prosperous country in the world. That was down five places from 2008.
#4 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th.
#5 The economy of India is projected to become larger than the U.S. economy by the year 2050.
#6 One prominent economist now says that the Chinese economy will be three times larger than the U.S. economy by the year 2040.
#7 According to a new study conducted by Thompson Reuters, China could become the global leader in patent filings by next year.
#8 The United States has lost approximately 42,400 factories since 2001. Approximately 75 percent of those factories employed at least 500 workers while they were still in operation.
#9 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
#10 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.
#11 In 1959, manufacturing represented 28 percent of all U.S. economic output. In 2008, it represented only 11.5 percent.
#12 The television manufacturing industry began in the United States. So how many televisions are manufactured in the United States today? According to Princeton University economist Alan S. Blinder, the grand total is zero.
#13 As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941.
#14 Back in 1980, the United States imported approximately 37 percent of the oil that we use. Now we import nearly 60 percent of the oil that we use.
#15 The U.S. trade deficit is running about 40 or 50 billion dollars a month in 2010. That means that by the end of the year approximately half a trillion dollars (or more) will have left the United States for good.
#16 Between 2000 and 2009, America’s trade deficit with China increased nearly 300 percent.
#17 Today, the United States spends approximately $3.90 on Chinese goods for every $1 that China spends on goods from the United States.
#18 According to a new study conducted by the Economic Policy Institute, if the U.S. trade deficit with China continues to increase at its current rate, the U.S. economy will lose over half a million jobs this year alone.
#19 American 15-year-olds do not even rank in the top half of all advanced nations when it comes to math or science literacy.
#20 Median household income in the U.S. declined from $51,726 in 2008 to $50,221 in 2009. That was the second yearly decline in a row.
#21 The United States has the third worst poverty rate among the advanced nations tracked by the Organization for Economic Cooperation and Development.
#22 Since the Federal Reserve was created in 1913, the U.S. dollar has lost over 95 percent of its purchasing power.
#23 U.S. government spending as a percentage of GDP is now up to approximately 36 percent.
#24 The Congressional Budget Office is projecting that U.S. government public debt will hit 716 percent of GDP by the year 2080.

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@ican711nm,

That is why we do not need republicans in office ever again! No I am just kidding around as there are some bad demo-c-rats as well.

It seems to show us that we are no greater then the roman empire.

It seems to make people feel better by listening to the necessary illusions about how the people of the USA are more exceptional compared to other countries.
We may never get our ethics close to being right and I think that this is the root cause of what is happening. Until people learn to drop their aggressive emotions we can not advance.

All animals have aggression, we are human animals so we have some control of our behavior but it does not seem that we have learned to drop our adolescent attitudes, " instead we bring them with us into adulthood and also into important decision making.

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@georgeob1,

Quote:

It turns out he (okie) was referring to the taxes he pays on a personal business whose proceeds he reports on schedule C. In such a case he pays a 14% self employment tax on earnings PLUS Federal and State income taxes at the marginal rate for his total earnings. Together these alone could easily reach 62% - even without any property or use taxes which are also paid.

You still get an F for math george.

Your 62% is false.
The highest income tax bracket for Federal is 35% and that doesn't happen until FICA is no longer taxed. The highest income tax bracket where someone would still have to pay FICA is in the 28% bracket and then only for about $24,000 of that income. Actually, they would pay it on about $10,000 of their income since the standard deductions eliminates the taxation at 28%

The most someone could pay on a single dollar is 28% + 15.13% + state rate which would not be more than 8.5% for any state I can see in the income bracket where FICA would still be paid. And that ignores the fact that they can only pay that on less than 22% of their total income.

A single person making 106,000 would pay FICA, Fed and State income tax.

FICA = $16,000
Fed rate with Standard deduction would = taxable income of $96,800
10% rate = 837.5
15% rate = 3843.75
25% rate = 12100
28% rate = (96,800-82400)x.28=4032
which is a total Fed tax of $20,813.25

Which brings FICA and Fed tax to $36,813.25 which is only...
34.7% of income paid in taxes. Even if you add 8% to that you still don't get to 50%. Of course if you add in state tax then it reduces the Fed taxable income by the difference between state tax and standard deduction.
If the only deduction the single person had was state tax at 8%, their taxable Federal income would be $93,870 which would reduce their Federal taxes by another $820 making it even harder to get to 50%. Of course if you add in property taxes then that also adjusts the Fed and State income taxes.

Your math is horrible george and calling me contemptuous doesn't make it better. It only makes you look like a fool.

3 Replies

Where is the US economy headed?

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