This place needs a laugh.

[Guest]

Reagan Vs. Obama - Social Economics 101 - YouTube (http://www.youtube.com/watch?feature=endscreen&NR=1&v=3h8O7V-WxWQ)

[Guest]

Reagan Vs. Obama - Social Economics 101 - YouTube (http://www.youtube.com/watch?feature=endscreen&NR=1&v=3h8O7V-WxWQ)

Glad you put that in political! It is funny though. I will have to find something on the liberal side like it.

I didn'y buy the analogy though. Moreover, the Republicans are forgetting one very important group with respect to taxing of the rich. That's tax lawyers and just how complex the taxes laws still are and probably will always be.

If you got one law and a lawyer, the lawyer will find a loophole.

[Guest]

Glad you put that in political! It is funny though. I will have to find something on the liberal side like it.

I didn'y buy the analogy though. Moreover, the Republicans are forgetting one very important group with respect to taxing of the rich. That's tax lawyers and just how complex the taxes laws still are and probably will always be.

If you got one law and a lawyer, the lawyer will find a loophole.

Your hero in the WH appointed a task force to study exactly, or closely what you are talking about.......when they got done, they made a presentation....it was supposed to be the beginning of a conversation on simplyfing the tax code, and looking for ways to reduce the deficit, etc.

Do any of our students know what the President did with that study that was supposed to be the jumping off point ?

PS...GREAT video...a nice simple presentation and spot on

[Guest]

Your hero in the WH appointed a task force to study exactly, or closely what you are talking about.......when they got done, they made a presentation....it was supposed to be the beginning of a conversation on simplyfing the tax code, and looking for ways to reduce the deficit, etc.

Do any of our students know what the President did with that study that was supposed to be the jumping off point ?

PS...GREAT video...a nice simple presentation and spot on





'Prolly the same thing Junior did with the 9/11 Commission.

[Guest]

'Prolly the same thing Junior did with the 9/11 Commission.

Not exactly....the 9/11 commission made 41 recommendations, of which 32 have been implemented thus far and on those 9 there has been improvement for sure.

On the Presidents National Commission on Fiscal Responsibility and Reform,
nothing has been adopted.

[Guest]

This was very good; it's funny, it's timely and it tells a good story.

[Guest]

I get my share of laughs every single by just reading the political forum.

Without a sense of humor I would have to think some of you are serious!!

btk

[Guest]

For your information, the premise of this story is true. It was tried in an economics class at a University some years ago by the professor who wanted to prove this point. It is not a made up story.

[Guest]

For your information, the premise of this story is true. It was tried in an economics class at a University some years ago by the professor who wanted to prove this point. It is not a made up story.

It is way too simplistic though. Capitalism assumes that the players in the game are equal. Often they are not. That's when the state needs to step in.

Alexander Hamilton seemed to get that point in The Federalist Papers. Writers of Securities Law, Banking Laws, and Anti-Trust Laws also seem to get that point.

Also not sure how that would apply with a computer making thousands of transactions per minute on Wall Street either. http://www.technologyreview.com/computing/24167/

[Guest]

It is way too simplistic though. Capitalism assumes that the players in the game are equal. Often they are not. That's when the state needs to step in.

Alexander Hamilton seemed to get that point in The Federalist Papers. Writers of Securities Law, Banking Laws, and Anti-Trust Laws also seem to get that point.

Also not sure how that would apply with a computer making thousands of transactions per minute on Wall Street either. Trading Shares in Milliseconds - Technology Review (http://www.technologyreview.com/computing/24167/)

It absolutely does NOT make the assumption of being equal....

[Guest]

It absolutely does NOT make the assumption of being equal....

On the basis of the cartoon, capitalism does assume that each figure can do the work without any help from the teacher. That's the point of the cartoon that we mess stuff up when we step in and equalize the test results. Give everyone the same grade despite their contribution.

It does assume though that the figures are equal to the task if they study and apply their God given talents.

[Guest]

"Probably the most common charge against capitalism is that it creates wealth and income inequality. The frequency of this allegation testifies to the fact that it strikes a chord with large numbers of people. It’s so believable. After all, who can deny that Bill Gates, Warren Buffett, and bond traders each have vastly more money than ordinary folks do?

Friends of capitalism typically concede that it promotes greater wealth inequality. Even Ludwig von Mises wrote that “inequality of wealth and income is an essential feature of the market economy.” But, like Mises, pro-market scholars go on to point out that inequality is the price paid for the immense and widespread prosperity unquestionably made possible only by the free market. “Sure, there’s more wealth inequality,” the concession goes, “but even the poorest people are much better off with capitalism than without it.”

Equality and Capitalism | The Freeman | Ideas On Liberty (http://www.thefreemanonline.org/columns/equality-and-)
capitalism/


"In the past century a myth has grown up that free market capitalism—equality of opportunity as we have interpreted that term—increases such inequalities, that it is a system under which the rich exploit the poor.

Nothing could be further from the truth. Wherever the free market has been permitted to operate, wherever anything approaching equality of opportunity has existed, the ordinary man has been able to attain levels of living never dreamed of before"

Capitalism and Equality (http://www.agem.com/capitalism_and_equality.htm)

"If the wealthy get wealthier, no one has to become one penny poorer. This childish idea that the economy is a zero-sum game might appeal to the populist sentiments of the so-called 99 percent—or to the envious nature of some others or to the emotions of many struggling through this terrible economy—but in the end, it doesn't stand up to the most rudimentary inspection."

You Want More Equality? Support More Capitalism - Reason Magazine (http://reason.com/archives/2011/11/02/you-want-more-equality-support)

[Guest]

On the basis of the cartoon, capitalism does assume that each figure can do the work without any help from the teacher. That's the point of the cartoon that we mess stuff up when we step in and equalize the test results. Give everyone the same grade despite their contribution.

It does assume though that the figures are equal to the task if they study and apply their God given talents.

Sorry I didnt add the links in the first post, but if you read the ones I just gave you and the thousands more from econmists you will find what you say tremoundously flawed and totally incorrect.

The movement by our government to get all things equal using the government to do it is, by its nature, against all that made this country what it is.

Those of us who support capitalism are often said not to have empathy for those in need and that irks me no end. It is another example you you folks and your elitism. The cartoon was simple for sure but it hit the head on the nail. The bottom line is that capitalism gives everyone a chance...the closer to socialism we get the chance does not even matter.

[Guest]

It is way too simplistic though. Capitalism assumes that the players in the game are equal. Often they are not. That's when the state needs to step in.

Alexander Hamilton seemed to get that point in The Federalist Papers. Writers of Securities Law, Banking Laws, and Anti-Trust Laws also seem to get that point.

Also not sure how that would apply with a computer making thousands of transactions per minute on Wall Street either. Trading Shares in Milliseconds - Technology Review (http://www.technologyreview.com/computing/24167/)

The point is it has been tried and failed, only works in Religious Comunities. The test of giving everyone the average grade of the class was done, the professor said it was the only class he ever failed everyone.

The Mayflower Compact had the Pilgrims sharing all, so no one bothered to work after awhile. It was only after the Pilgrims were allowed to keep their own farm produce and sell what they wanted did the colony thrive, they had so much, they invited the Indians to a feast.

Red China, Vietnam for example are experimenting with capitalism, letting workers sell their own product, and are thriving. At least in the South of Vietnam, North still strict Communist. In the South, they are building fancy beach resorts for example. Socialism holds people back, Capitalism lets them thrive.

Germany used to be very productive until reunification. Too many people expect hand outs ala Harz IV.

[Guest]

Some people are concerned about the manner in which people get rich, such illegally, by price gouging, unfair competition and the like; while others just resent people who get rich. This video does a very effective job in explaining why wealth distribution doesn't work. What it doesn't point out is that often those campaigning for this form of social change (sociual justice) just keep getting richer and richer. Look at all of the communist countries and what do you see rich elitist running them