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  1. #1
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    Economic Policy Discussion

    I think the economy, updates, and candidate policy should have it's own discussion. Obama and the Democratic candidates are spending a lot of time discussing the issue, and for good reason since it is the number one issue to voters. The republican candidates outright avoid this issue altogether and seem to rely on the old "dems will raise your taxes" routine.

    With unemployment unexpectedly hitting 6.1%, 3 months after everyone got a stimulus check, and during the month in which back to school spending typically causes good economic results, this should be alarming to everyone. We are probably looking at unemployment reaching 6.5-7% come election day.

    Feel free to post thoughts and policy info on taxes, spending, job creation, etc.

  2. #2
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    Get rid of earmarks.

    Start drilling for oil.

    Adjust the tax cuts a bit.

  3. #3
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    Increase spending on government projects for infrastructure and education would be a great place to go to create jobs and get something useful from it. It's a lot better than just writing people checks for a quick bandaid. Obama is pushing for a $100 billion spending stimulus to create jobs:

    http://www.nytimes.com/2008/09/06/bu...06econ.html?hp

    Not to mention his proposed investment in clean energy and the resultant job creation. One party is clearly out front of the other on the economy and job creation front

  4. #4
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    Quote Originally Posted by Wrigleyboy25 View Post
    Get rid of earmarks.

    Start drilling for oil.

    Adjust the tax cuts a bit.
    Wrigs ... we can't start drilling for oil even if we wanted to. The infrastructure and equipment just don't exist.

    And, there are areas open to Big Oil for expansion. They just don't go.
    Когда́ де́ньги говоря́т, тогда́ пра́вда молчи́т

  5. #5
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    Quote Originally Posted by PHX-SOXFAN View Post
    Increase spending on government projects for infrastructure and education would be a great place to go to create jobs and get something useful from it. It's a lot better than just writing people checks for a quick bandaid. Obama is pushing for a $100 billion spending stimulus to create jobs:

    http://www.nytimes.com/2008/09/06/bu...06econ.html?hp

    Not to mention his proposed investment in clean energy and the resultant job creation. One party is clearly out front of the other on the economy and job creation front
    But thats pretty much what Obama's stimulus package entails. Here's an interesting article in the NYT about it...NYTimes

  6. #6
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    Quote Originally Posted by SmthBluCitrus View Post
    Wrigs ... we can't start drilling for oil even if we wanted to. The infrastructure and equipment just don't exist.
    And, there are areas open to Big Oil for expansion. They just don't go.
    Sounds like an area prime for job creation...

  7. #7
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    Quote Originally Posted by americaspasttim View Post
    But thats pretty much what Obama's stimulus package entails. Here's an interesting article in the NYT about it...NYTimes
    obama's plan isn't sending out checks to citizens, it's funding projects that will create jobs. that's exactly what is needed. more jobs, better infrastructure. spending on construction and education projects is a safe bet right now.

  8. #8
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    Quote Originally Posted by americaspasttim View Post
    Sounds like an area prime for job creation...
    Yea, great. They could do it if they wanted to. Again, there are already areas that are open for expansion and speculation that they're free to go to.

    That puts it on the oil companies. Unless you're advocating government involvement in the job creation process FOR oil companies.
    Когда́ де́ньги говоря́т, тогда́ пра́вда молчи́т

  9. #9
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    Obama calling out mccain on the economy:

    http://news.yahoo.com/s/ap/20080905/ap_on_el_pr/obama

  10. #10
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    Hillary's going to start teeing off on McCain regarding the economy:

    http://news.yahoo.com/s/politico/200...politico/13193

  11. #11
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    If it means higher personal taxes for me, I'm out. I pay way too much as it is to prop up welfare and other broken socialist..uh, I mean social... programs. And yes, that includes a stupid and unecessary "war" in Iraq.

    More taxes imposed on those who make more is penalizing initiative and the very core of what drives our markets.

  12. #12
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    Your Economic Darwinism leaves much to be desired.
    Когда́ де́ньги говоря́т, тогда́ пра́вда молчи́т

  13. #13
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    Quote Originally Posted by Uncle Funster View Post
    If it means higher personal taxes for me, I'm out. I pay way too much as it is to prop up welfare and other broken socialist..uh, I mean social... programs. And yes, that includes a stupid and unecessary "war" in Iraq.

    More taxes imposed on those who make more is penalizing initiative and the very core of what drives our markets.
    Do you make more than 200k a year? If so, please feel free to vote your interests over the country's. However, even some of the richest people in the world prefer higher taxes for the wealthy. Just ask Warren Buffet.

    "Warren Buffett, the third-richest man in the world, has criticised the US tax system for allowing him to pay a lower rate than his secretary and his cleaner."

    "If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”

    "Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation."

    http://www.timesonline.co.uk/tol/mon...cle1996735.ece

  14. #14
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    Quote Originally Posted by Uncle Funster View Post
    If it means higher personal taxes for me, I'm out. I pay way too much as it is to prop up welfare and other broken socialist..uh, I mean social... programs. And yes, that includes a stupid and unecessary "war" in Iraq.

    More taxes imposed on those who make more is penalizing initiative and the very core of what drives our markets.
    It's good to know you're voting for Obama then.

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  15. #15
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    Unemployment will not hit 7% before the election. Maybe by the time the next president is sworn in but not in 2 months. If it goes up by nearly 1% in 2 months, we'd also likely be seeing the Dow dip below 10K. 1% might not sound like a lot, but it really is a HUGE number in economics.

    Think about it this way. They recalculated the June and July employment numbers. They added in August's numbers. All in all they found about 100,000 net people lost their jobs. All of that led to a 0.3% increase in unemployment. So we're talking about roughly a 400,000 decrease in employment in two months. We haven't seen that in about 30 years.
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