morpeth

I guess it depends on what part of country you live in, but many people have encountered a decline in their standard of living with stagnant real wages and increasing costs. Over 40 million people are on food stamps, the official unemployment rate is down but people who left the work force are not counted. There many people who feel the economic and social trends show a declining standard of living and potential for the future. Declining educational standards. I haven't studied recent crime statistics and have heard long term they have declined- yet around places I know drug addiction and the associated crime have increased. Companies may be making more money, but a lot is simply used to re-purchase stock to drive up the stock price. Good for executives not so good for growth.

morpeth

I agree too that picking a white guy doesn't add much, she has the minority vote, increasing the women vote gives her the election.

Actually I think she will win by a landslide, no matter what Trump's appeal, after the debates I think his poll numbers will drop sharply.

zargof

Using words like "It is obvious" without actually providing evidence isn't exactly a great argument. Consider the fact that the increased taxes on a business are used in ways to give consumers more money to spend, such as decreasing education costs for example. If consumers have to spend less on paying back student loans they can buy more of your products. You have to look at macroeconomics rather than just say if I pay more taxes it will be bad.

morpeth

Ok maybe I shouldn't have used the word "obvious" as I thought it was clearly obvious if my business has less money to invest in capital equipment and training of my workers that there is less ability to improve productivity which is a driver behind higher wages and economic growth. And just as obvious to me was that at some point rising taxes and costs of regulation can drive business overseas. Obvious amongst any businessmen I know, but I get your point about using the word obvious. Then there is them cost of often senseless education.

There is also the argument that government re-distribution of income may end up favoring sectors with less productivity growth.

On the other hand I believe this whole US method of student loans has imposed huge burdens on people, and has accelerated the increase in college costs. If I recall in the UK repayment is limited if you make below a certain amount, and then above that amount limited to a percentage of income. I do believe a better system to fund education costs should be found.

zargof

Yes, but that is only part of the equation. A business is nothing with out customers to buy your product. Increase your customer base and you generate more income. As I say if those extra taxes you are paying allows the poor and middle class to have more income to spend at your and other businesses, won't that also drive economic growth.

Also, what happens to your profits? If you reinvest it in the business, or use it buy stuff, then that's great for the economy. But if you squirrel it away in the bank, then not so much.

The point is all about finding the right balance of taxation on businesses and individuals to drive the most growth, and there is a lot of evidence that right now taxes in the US are too low. And they are lower than most other countries, so there is room to increase them without driving business overseas.

morpeth

For the growth in the economy in terms of productivity and pace of growth, it is not automatic re-distributing money from business profits for consumption will promote faster growth in the economy and productivity and hence wages ( theoretically ). At the same time I fully agree it is ridiculous the level of poverty in the US and the lack of growth in real wages over the last decades, and if not addressed will have negative consequences. Increasing taxes on the super wealthy while lowering taxes on business is the difficult policy question to be solved.

We can disagree though that there is room to increase taxes without driving businesses overseas- businesses have been moving jobs overseas for sometime, so increasing costs and regulations will only continue and maybe increase that trend. The company I ran did operations in Mexico and lower wages were not the only reason or even necessarily the main reason for opening operations there. Government officials were reasonable and bent over backward to help. For example permits that could take years to secure in the US, could be secured in half the time let alone cost in Mexico. Employer taxes for employees were three times the percentage we paid in the USA by the way. Corporate income taxes for the business we were in were less than the United States.

dc koop

Well I wonder what Bill would have thought about it.

Jerseygirl

Who cares.

Edit: My husband commented on Bill's hands shaking last night during his speech. I didn't notice it but see it's now mentioned in the press. I did notice the change in his face...a month or so ago he looked very gaunt.

Anyone else notice his hands?

kimilseung

Good from Biden.

Jerseygirl

He did very well IMO.

dakota44

Obama is on a roll tonight. What a speech. Damn I am going to miss him in the White House.

dc koop

You and me both. Great speech from Tim Kaine also

dc koop

We do know that Donald Trump has beautiful hands. He said so

dakota44

His best line of the night...

My grandparents ancestors settled in the midwest 200 years ago...but I don't know if they had their birth certificates.

dc koop

Yeah wasn't that great ? We loved it