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To do anything across the board in any area of endeavor is pure folly and demonstrates a lack of applied intelligence.
Mandatory jail sentencing, 3 strikes policies are all bad moves, treats evryone the same...basis for prejudicial thinking which essentially limits creativity while running the brain on two cylinders.
Loopholes and 'welfare' designed as marketing tools for the most part to boost business and generate downstream benefits for everyone. Of course it is easy to corrupt and well intended policy.
The oil companies for instance are the economic basis for the US government via their taxes.
An intelligent approach to ensure balance between benefit and unfair advantage would be best. the meat cleaver approach reflects neandrethal mentality and sure way to self inflicted wounds.
Now all you have to do is elect legislative representatives with demonstrated ethics and character.
The problem belongs solely in the lap of the electorate who despises unethical behavior in sports figures and loves unethical politicians.
With a 'we have to pass it to see what is in it" attitude, acceptable to the electorate and media watchdogs, it will be business as usual, feel good laws, corrupt trough feeders and wasted tax money.
how about corporate welfare and bailouts - that's also undemocratic.
So why do they continue to exist?
I will say that you seem to be in the minority that really care about this subject not simply how it affects ones political beliefs. Now this is a general point but let's look at what is going on.
I will say that you seem to be in the minority that really care about this subject not simply how it affects ones political beliefs. Now this is a general point but let's look at what is going on.
QE would be one. Providing money to the big banks for basically nothing, having them put that money in the Fed and then pay them interest on that money would be another. (which is related to QE)
Where is the wealth coming from to create this bubble? The Fed maybe?
The Fed can only print money based on the faith of the government and the dollar. The underlying value is human capital - future work of unborn kid - that the government can tax to repay ourselves. Think perpetuity.
Last edited by TrapperJohn; 02-28-2013 at 07:12 AM..
There has been thousands upon thousands of businesses or whatever they have went under and the country hasn't been "destroyed". If a bank goes down there are others more than willing to step in it's place. Vacuums like this always have someone else willing to step in to fill the void.
As we have seen the bank bailouts were never about saving the country from "destruction" either. It was plain and simply a program to see that Wall Street continue's to grow larger.
I believe they should do nothing. My complaint is with their complaints and excuses. If they are going to argue that something is too big to fail and that is a problem and then they allow them to continue to get bigger and bigger, don't ask me to burden the consequences.
Scare tactics to get money out of the pockets of main street is what all of this is.
Again, I don't get your point. The US is not going to bail out every company of every industry, so I don't follow your point.
This discussion is about systemic risk of industries and businesses. Systemic risk is exists. It is what too big to fail means.
A bank going down is irrelevant unless it going down will cause systemic destruction that will destroy other banks and freeze up the whole banking industry.
No, without those bailouts the US economy would be much worse, this is objective reality. I didn't like the bailouts. I think more should be done to punish wall street, but if that bailout didn't occur you are talking about financial destruction on a world ending scale. This is not up for debate. Please read critics of the bailouts, almost all of them support the bailout.
The government is not going to do nothing when an industry if that collapse can destroy the US economy. This has been our history for a very, very long time.
The question becomes in determining systemic risk, the issue becomes regulating too big too fail, I don't know if it can be done in a way that 100% the US government will never bailout another industry again.
how about corporate welfare and bailouts - that's also undemocratic.
So why do they continue to exist?
You are tossing around silly catch phrases, which makes me doubt that you even know what you are talking about.
A loophole is any tax deduction, so when you claim your standard deduction - hello loophole!!
Define corporate welfare.
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