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Bernanke: "We're looking for something that brings unemployment down in a sustained way." Asked...
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Thursday, September 13, 2012, 2:37 PM ETBernanke: "We're looking for something that brings unemployment down in a sustained way." Asked about further tools if QE3 doesn't work, he doesn't go beyond what's already been used: Communications, Treasury purchases, MBS purchases.
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This news story has 29 comments:
Any effect on the economy via QE3, will more than be offset negatively with rising oil and commodity prices. Yes, a ST bump in markets, but wait for the negative flow through to the economy via commodity prices.
What do you get when you have multiple currencies in a race to the bottom?
Frankly I don't know, it has no precedent: over 4 major curriencies trying to significantly debase their paper: USD, EU, GBP, JPY, and frankly Yuan too...
Thanks!
BERNANKE TO ROMNEY: F U
for Romney has said that if elected he will fire the Chairman.
1. How about three year federal tax exemption on any new start-up business? I think Texas has done something like this...
2. Forgive student loans of recent college grads that start a new business.
3. Get rid of the citizen-based taxation. When a US citizen moves abroad he pays income plus a plethora of other taxes to his host country on his world wide income and then is double taxed by the IRS on this same income. You can't sell items abroad if you don't have feet on the ground, but this double taxation is unjust.
4. Modify tax structure on retained earnings for LLC's. Taxing retained earnings at 39.6% is asinine. And you need to prove to IRS that there is a justification for these retained earnings? Really?
5. There is a significant portion of the US population which drastically needs more education - education which they are not getting. More emphasis on education and retraining. Focus on technical education as well as apprenticeship programs that specialize in high-end and complex manufactured products.
6. We need to import in more educated people (H1-B visa) (The limit is 85,000 right now and not haphazardly legalize illegal immigrants. If companies want to hire college educated foreigners, there should be no limits to this, especially if they have advanced degrees.....Right now we have a 85,000 H1-B visa limit with a limit of 20,000 for advanced degree holders and have 20 million illegal immigrants. How does this make sense? There should be no limit on advanced degree holders...We as a nation want to draw top talent, period. The approval process for foreigners with advanced degrees should be fast and simple. They stay here three years and start a business that employs people, they automatically get US citizenship. Individuals that want to invest a minimum 500K into the US to start a business, get a green card automatically.
7. Roadblocks that delay construction, environmental and other permits are significant obstacles to new hiring. There should be a one stop agency that gets all of this pre-approved and cleared.
These are just a few...and there are tons of other ideas....out there...
Both sides in Congress need to ask themselves are we on the same team?... As Seth Godin said....defeat and power and humiliation and money have replaced "doing what works for all of us" as the driving force in politics. Stop disrespecting the other side and tone the rhetoric down.
I used to think along the same line as you do on the H visas. Looking it from a deeper perspective, would you not believe that Mr. Obama's hands are tied on this one? How many thousands of American are 'forced' to work overseas on equally temporary work visas? Architects, engineers, finance types, airline pilots, teachers, to name a few. Yeah, we could start a war, by canceling all H 1 visas, but what would happen to those on foreign soils on the same status? They would head home soon enough.
Just my 2 cents. I wish some college graduate student could do a thesis on this topic and explore the facts and its ramification..
I'll add:
1. Write off Student Loans Science, Engineering, Math and other critical study areas.
2. Wiave taxes on all global corporate earnings repatriated to US over next 3 years.
3. Lower corporate tax rates (or eliminate). There is no reason to tax corporate earnings. All corporate earnings find their way into some other taxable event - dividends, equity appreciation --> cap gains, wages (actually get taxed more than corp tax rate), etc.
Everyone else can add to this list and then we can all look at eachother and wonder what the hell our representatives are doing?
As a college student in engineering, I gotta say AMEN!!!! (although I have no loans up till this point but still)