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#61
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Why We Left The Gold Standard
"Bremick" wrote in message ... Making it unattainable is what I was getting at. JAM You're generalizing again, perhaps because it was difficult for you Indeed. Just about everyone I knew was making good money during the 80s boom economy. Sure, Reagan was doing it with smoke and mirrors and the bill finally came due after he was out of office but it was a good ride while it lasted! |
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#62
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Why We Left The Gold Standard
"Some Guy" wrote in message ... "Bremick" wrote in message ... Making it unattainable is what I was getting at. JAM You're generalizing again, perhaps because it was difficult for you Indeed. Just about everyone I knew was making good money during the 80s boom economy. Sure, Reagan was doing it with smoke and mirrors and the bill finally came due after he was out of office but it was a good ride while it lasted! That's one of the keys-- take advantage of the good times to put things away for the bad. |
#63
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Why We Left The Gold Standard
"Bremick" wrote in message ... "Frank Galikanokus" wrote in message ... Bremick wrote: "Paul Ciszek" wrote in message ... Good points. Also, many laid off or fired employees are too reluctant to relocate or to learn new skills. Or to accept a lower paying job. Why bother when they can make more money for the next two years on the dole? Really? People are living well on Unemployment Insurance? Unemployment Insurance is something that people pay into, it's not the dole. I never said people were "living well", although many are receiving over $500 a week. That's $26,000 a year. And who are they? The average unemployment payment in the country is about $330/week. In Virginia, the MAXIMUM is about $355 or about $18500/year. So if you were a worker in Virginia, making the average salary of $45000 or about $865/week, you could expect to get $355 per week if you were laid off. Most of the younger people I know with families, mortgages, and the like, live paycheck to paycheck and a drop of $500 in their weekly income would have a dramatic effect I sure could manage to live on that, considering the alternatives. I could probably live on it too if I were a retired government worker with a big pension and health insurance paid mostly by the government and no mortgage, or wife and kids to support. But thats not the typical worker in the United States. People don't pay into it. It comes from taxing employers, Hey! you got something right! but guess who ends up funding the cost in the long run. Once that 99 weeks runs out people then can qualify for other types of federal assistance. It never ends. All the while using the same infrastructure and services the rest of us are paying taxes for to keep going. It's called a free society where people come together for the common good. You sound like someone from the flower child generation. Or someone who read the U. S. Constitution. You know, like the Preamble (caps are mine for emphasis) that goes "WE THE PEOPLE OF THE UNITED STATES, IN ORDER TO form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, PROMOTE THE GENERAL WELFARE, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America." Or Article I Section 8 that starts. "Section. 8. THE CONGRESS SHALL HAVE POWER TO LAY AND COLLECT TAXES, DUTIES, IMPOSTS AND EXCISES, TO pay the Debts and PROVIDE FOR the common Defense and GENERAL WELFARE OF THE UNITED STATES; but all Duties, Imposts and Excises shall be uniform throughout the United States;" Personally, I think these passages should be required reading along with the rest of the document. -- Richard http://www.richlh.com Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. - John Kenneth Galbraith - |
#64
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Why We Left The Gold Standard
"Richard L. Hall" wrote:
"Bremick" wrote in message ... "Frank Galikanokus" wrote in message ... Bremick wrote: "Paul Ciszek" wrote in message ... Good points. Also, many laid off or fired employees are too reluctant to relocate or to learn new skills. Or to accept a lower paying job. Why bother when they can make more money for the next two years on the dole? Really? People are living well on Unemployment Insurance? Unemployment Insurance is something that people pay into, it's not the dole. I never said people were "living well", although many are receiving over $500 a week. That's $26,000 a year. And who are they? The average unemployment payment in the country is about $330/week. In Virginia, the MAXIMUM is about $355 or about $18500/year. So if you were a worker in Virginia, making the average salary of $45000 or about $865/week, you could expect to get $355 per week if you were laid off. Most of the younger people I know with families, mortgages, and the like, live paycheck to paycheck and a drop of $500 in their weekly income would have a dramatic effect I sure could manage to live on that, considering the alternatives. I could probably live on it too if I were a retired government worker with a big pension and health insurance paid mostly by the government and no mortgage, or wife and kids to support. But thats not the typical worker in the United States. People don't pay into it. It comes from taxing employers, Hey! you got something right! but guess who ends up funding the cost in the long run. Once that 99 weeks runs out people then can qualify for other types of federal assistance. It never ends. All the while using the same infrastructure and services the rest of us are paying taxes for to keep going. It's called a free society where people come together for the common good. You sound like someone from the flower child generation. Or someone who read the U. S. Constitution. You know, like the Preamble (caps are mine for emphasis) that goes "WE THE PEOPLE OF THE UNITED STATES, IN ORDER TO form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, PROMOTE THE GENERAL WELFARE, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America." Or Article I Section 8 that starts. "Section. 8. THE CONGRESS SHALL HAVE POWER TO LAY AND COLLECT TAXES, DUTIES, IMPOSTS AND EXCISES, TO pay the Debts and PROVIDE FOR the common Defense and GENERAL WELFARE OF THE UNITED STATES; but all Duties, Imposts and Excises shall be uniform throughout the United States;" Personally, I think these passages should be required reading along with the rest of the document. -- Richard http://www.richlh.com Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. - John Kenneth Galbraith - Wait, wait, did I hear one of yinz guys say you did well when taxes were being raised and Reagan spent us into the largest deficit up until that time? JAM |
#65
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Why We Left The Gold Standard
"Frank Galikanokus" wrote in message ... Bremick wrote: "Paul Ciszek" wrote in message ... In article , Bremick wrote: when govt realizes it may no longer be able to continue the freebies. What ever happened to families providing support for each other? Out of work for Kind of hard when the family members you might turn to for support are out of work too. It was like that before Social Security and people learned to survive. And what was average life expectancy before Social Security? up to two years and still getting paid by the govt? Maybe time to relearn a skill that someone needs. Are there skills that someone needs? Seriously, I think the problem is that US businesses don't need American workers, only American consumers. They want to have the latter without the former, but it doesn't work that way. And the few places that are hiring only want to hire people who are already employed, which does not reduce unemployment one iota. Good points. Also, many laid off or fired employees are too reluctant to relocate or to learn new skills. Or to accept a lower paying job. Why bother when they can make more money for the next two years on the dole? Really? People are living well on Unemployment Insurance? About the only people who might live well on unemployment benefits are single kids living with their parents who worked for a year or so at an employer before getting laid off. Most states require that you worked for 4 of the previous 5 quarters before you are eligible for unemployment benefits. Even then you'd get only half of what you made before as a benefit. And you are required to be actively seeking a job. I can't imagine a younger person with a family living high off the hog from it. I've known many people who lost just about everything they had including their houses and spent their pensions and savings because of prolonged unemployment. Unemployment Insurance is something that people pay into, it's not the dole. People don't pay for it, it is part of the "employment tax (about 11-12% of wages)" that employers pay to the federal government. But, of course, that eventually gets passed on to consumers. All the while using the same infrastructure and services the rest of us are paying taxes for to keep going. It's called a free society where people come together for the common good. And it is in the Constitution. -- Richard The significant problems we face cannot be solved at the same level of thinking we were at when we created them. (Albert Einstein) |
#66
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Why We Left The Gold Standard
"Richard L. Hall" wrote in message
... Unemployment Insurance is something that people pay into, it's not the dole. People don't pay for it, it is part of the "employment tax (about 11-12% of wages)" that employers pay to the federal government. But, of course, that eventually gets passed on to consumers. In NJ and NY (and many other states) workers pay into the unemployment insurance fund and their payments are matched by their empolyer. This is a state level tax, not Federal as you claim. You really should be more circumspect in trumpeting your ignorance. |
#67
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Why We Left The Gold Standard
"Some Guy" wrote in message ... "Richard L. Hall" wrote in message ... Unemployment Insurance is something that people pay into, it's not the dole. People don't pay for it, it is part of the "employment tax (about 11-12% of wages)" that employers pay to the federal government. But, of course, that eventually gets passed on to consumers. In NJ and NY (and many other states) workers pay into the unemployment insurance fund and their payments are matched by their empolyer. This is a state level tax, not Federal as you claim. You really should be more circumspect in trumpeting your ignorance. Some states may require an employee to pay an unemployment tax in addition to the employer paid federal tax. But I don't know of any state that is exempt from the federal requirements. From http://www.alllaw.com/articles/tax/article5.asp "Payroll taxes are the state and federal taxes that you, as an employer, are required to withhold and/or to pay on behalf of your employees. You are required to withhold state and federal income taxes as well as social security and Medicare taxes from your employees' wages. You are also required to pay a matching amount of social security and Medicare taxes for your employees and to pay State and Federal unemployment tax. ... The employer also must pay State and Federal Unemployment Taxes (SUTA and FUTA). The FUTA rate is 6.2 %, but you can take a credit of up to 5.4% for SUTA taxes that you pay. If you are eligible for the maximum credit your FUTA rate will be 0.8%. The wage base for FUTA is $7,000. You will stop paying FUTA for each employee once his or her wages exceed $7,000 for the year. You will need to check with your state about SUTA tax rates and the wage base. Generally, your SUTA tax rate is based on the amount of unemployment claims that are filed by employees that you have terminated. When your business is new, your SUTA tax rate starts at the maximum and declines if you build a history of few claims." |
#68
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Why We Left The Gold Standard
"Richard L. Hall" wrote in message ... "Some Guy" wrote in message ... "Richard L. Hall" wrote in message ... Unemployment Insurance is something that people pay into, it's not the dole. People don't pay for it, it is part of the "employment tax (about 11-12% of wages)" that employers pay to the federal government. But, of course, that eventually gets passed on to consumers. In NJ and NY (and many other states) workers pay into the unemployment insurance fund and their payments are matched by their empolyer. This is a state level tax, not Federal as you claim. You really should be more circumspect in trumpeting your ignorance. Some states may require an employee to pay an unemployment tax in addition to the employer paid federal tax. But I don't know of any state that is exempt from the federal requirements. From http://www.alllaw.com/articles/tax/article5.asp "Payroll taxes are the state and federal taxes that you, as an employer, are required to withhold and/or to pay on behalf of your employees. You are required to withhold state and federal income taxes as well as social security and Medicare taxes from your employees' wages. You are also required to pay a matching amount of social security and Medicare taxes for your employees and to pay State and Federal unemployment tax. ... The employer also must pay State and Federal Unemployment Taxes (SUTA and FUTA). The FUTA rate is 6.2 %, but you can take a credit of up to 5.4% for SUTA taxes that you pay. If you are eligible for the maximum credit your FUTA rate will be 0.8%. The wage base for FUTA is $7,000. You will stop paying FUTA for each employee once his or her wages exceed $7,000 for the year. You will need to check with your state about SUTA tax rates and the wage base. Generally, your SUTA tax rate is based on the amount of unemployment claims that are filed by employees that you have terminated. When your business is new, your SUTA tax rate starts at the maximum and declines if you build a history of few claims." Your reply is a verbose non sequitur, designed not to illuminate but to obfuscate. You claimed employees do not pay for their unemployement benefits when they, in fact, do. |
#69
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Why We Left The Gold Standard
On Jul 30, 9:20*am, Jim wrote:
On Jul 22, 3:13*pm, Frank Galikanokus wrote: I think this quote from the article makes more sense than you little quip. "Almost all economists agree, the system we have today is better than the gold standard. Not perfect, but much better." Which poll asked 'almost all economists' this question about the gold standard? Which economists were polled and what was the selection criteria? Here's an example where President 0bama claimed that 'all economists agree', and about 200 wrote him back and told him they didn't agree: http://www.cato.org/special/stimulus...e_version.html What has laid this country low is republican deregulation in 1999 and 2000 and the Bush tax cuts. http://en.wikipedia.org/wiki/Gramm–Leach–Bliley_Act Gramm-Leach-Bliley was signed by Bill Clinton. It is clear that the repeal of Glass-Steagall was not at fault for the economic meltdown of 2008-2009. The tactic of packaging mortgages into securities was invented by GNMA (Government National Mortgage Association) in the 1970s. And furthermore, it can easily be seen that allowing financial firms to do both commercial and investment banking had nothing to do with the problems. The securities firms that got into the most trouble (Bear Stearns, Lehman Brothers, Merrill Lynch) had little or no involvement in commercial banking. And the savings & loan/mortgage companies that got into the most trouble (Washington Mutual, Countrywide) had little or no involvement in investment banking. Actually, the idea of creating securities out of debt was known in the 1920s and contributed to the crash of 1929. It was a relatively small factor then, but was improved to better aid our susequent disaster in 2007. |
#70
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Why We Left The Gold Standard
On Jul 29, 11:10*pm, "Bremick" wrote:
.... China never sends invading troops. They aren't configured to do that like we are. *And why should they? *They have no wide alliances. *They can sit back and watch. *About like we will have to do eventually. *I have no real disagreement with what you're saying. Actually, China used to be (and still is) an important competitor for the US. Lately, they are facing competition from countries that work even cheaper. They have indeed sent troops to guard colonies they have set up. In some places in Africa, they have tried to force locals to work under such severe conditions, that the local people refused to work. The Chinese solved the problem by bringing in their own citizens (slaves?). The Chinese government doesn't bother about healthcare, unemployment insurance or pensions. |
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