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Honored Advisor

Paul Craig Roberts interview

He gives a terrific example of how the pre-Thatcher "investment tax" in Britian of 98% was a disaster, if and Englishman had $100,000 or pounds or whatever to invest, that high of tax encouraged him to rather buy a new Rolls Royce and live the good life, leaving the economy to suffer from lack of fresh money.   Also Roberts has a great idea on bringing corporations back to the US.  Tax them when they "add value", tax the crap out of them if the product`s value was added in China for instance, but tax them at a low rate if the product is manufactured in the US.  Sounds like a Rube Goldberg method of implementing "tarrifs" that has become a word worse than the F-word.  http://www.paulcraigroberts.org/2012/09/25/usa-continue-wars-long-dollar-remains-reserve-currency/   Roberts, as so many in the Reagan administration had a streak of anti-semitism that he hasn`t yet been able to shake. 

17 Replies
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Re: Paul Craig Roberts interview

Ya gotta lead a duck, son, not shoot behind it.

 

That is 30 year old news, announcing that "hey, now that the pendulum is way over here on this side, don't pay attention to it becasue it was way over on the other side once upon a time."

 

Not the case in the contect of Roberts' interview but is if you want to snip that one bit out and claim that high tax rates on investment are the root of all evil.

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Re: Paul Craig Roberts interview

BTW, if we are using Britain as our laboratory we might want to look at what the extension of Thatcherite policies has wrought there recently.

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Veteran Advisor

Re: Paul Craig Roberts interview

Pretty much something for everyone in that interview. "the USA ceased to be a democracy during the Clinton administration.."

 

Obama as not being a puppet of Israel...fine, but who does pull the strings?

 

THe tariff, or tax, might be too late as Animal Farm has already pretty much set in, even as Hardnox argues that anyone can step in and run a business , basically what Obama is saying "you didn't build that!"

 

"the USA is bankrupt", the only thing keeping the wars going is the role as reserve currency. THis echos what was reported as the true motive behind invading Iraq, Saddam was going to take Iraq away from pricing oil in dollars and instead in euros or some other currency.

 

Mr. ROberts is very thought provoking, to say the least.

 

Makes me want to buy more guns, train the family to use them, and keep hard assets (Grain), instead of paper money. BUt when the 47% come for it, I lose it all anyway, right?

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Re: Paul Craig Roberts interview

One might also argue that the socialist hole that Britain had become after the war was a result of the fact that the people had been asked to bear the brunt of two wars that added up to a cost that was vastly beyond anything Americans could fathom.  If the crown was to survivie the masses had to be bought off.

 

We have avoided falling into that trap by having a professional mercenary military and a requirement of sacrifice that is limited to buying more stuff and paying for more wretched entertainment so as to keep the economy afloat.

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Honored Advisor

Re: Paul Craig Roberts interview

Yes Nox, but let`s look at Greece, they have/had high taxes but only chumps actually paid them, they had unheard of benefits like retiring at 55 and how is that working out for them?  I think Roberts is on to something with his idea to bring corporations back to America, with his under the radar method, that is the only hope we have is to get this country making things again, earning a living wage and paying taxes on that living wage.  Whether you want to discredit the Laffer curve or not, if taxing the people beyond half their income will lower productivity as Roberts points out a Doctor will knock-off early to the 19th hole at the club rather than work 3/4ths of Friday totally for the government.  Oh I know the anecdotal evidence that Don will come with that his son said "no one turned down overtime because of taxes yet!" ...yeah in this economy you probably can have small instances of workers that are scared of getting fired for turning down O.T.  But workers are good at doing math on those things and if over taxation becomes the norm ...they aren`t going to "donate" their time to the government.    

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Re: Paul Craig Roberts interview

Not going to tippy toe toward the notion that maybe the 1% is as much or more a threat to the ranch and "legacy" as the 47%?

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Re: Paul Craig Roberts interview

Yeah, I'll stand by that 100%

 

This is sort of the hedge fund managers/private equity dude conundrum in a nutshell.

 

It isn't enough to have been extraordinarily fortunate- you have to have the world acknowledge that you are special.

 

Which shouldn't come as a surprise becasue that is why people are motivated in the first place.

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Honored Advisor

Re: Paul Craig Roberts interview

I really am leery of giving too much family history for fear of this site`s history nazi, Bruce swooping in Smiley Wink just kiddin` ya Bruce.  But my Dad`s side of the family left the Alsace in the mid-late 1800`s and things were so bad with "taxes" at that time that Frenchmen would put their wealth in gold that could be sewn into garments to pass along without the gov`s watchfull eye.  I regret not listening more closly to those stories because we are running very parallel to that here now,  except we have no "America" to flee to.

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Honored Advisor

Re: Paul Craig Roberts interview

Nox, the "Koch bros" don`t want my farms, the fools standing in line for a I-Phone that work part-time with $50,000 in student loans for a useless degree, car payment and a house that`s financially underwater ...probably will vote for politicians that will legally steal my land for them.  Someone buying land in this environment needs their head examined, you`re apt to only have it stolen from you.