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The U.S. is not just heading towards default, says Ben Stein, we're racing towards it. Our...
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Tuesday, November 1, 2011, 8:04 PM ETThe U.S. is not just heading towards default, says Ben Stein, we're racing towards it. Our country has simply taken on far too many obligations than we can afford, Stein asserts. We've got to raise taxes and cut expenditures, particularly on unemployment and disability, where there's so much fraud "it's just insane." (video)
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The comparison is not to where we have been but to what we are competing against right now. And that would be Asia primarily.
we lowered taxes under bush is correct .....what we got was the worst job growth over a 8 year period in modern history.
OBAMA has not raised taxes . taxes have remained the same and have gone down not up.
The rest of us are carrying your load.
why do some always act like they pay for everyone elses taxes.
you should keep your foot on the floor and not in your mouth.
Federal income tax rates are the same and payroll taxes have been cut during the Obama admin
Either you are ignorant or a liar
It is a FACT, that the minority pay the majority of the taxes, in GREATER proportion than the amount of money they earn (or "take" as I'm sure you will refer to it).
It is also a FACT that more than 50% of the electorate pay NO federal income tax. In other words, more than 1/2 of the populace want "the other guy" to pick up their share - sounds like you fall in this group.
So it really does not matter what anyone paid in the past 10 or 20 years in isolation but what does the competetive landscape look like for capital in the next 10 to 20 years? Growth and jobs are obviously going gangbusters in Asia and the western economies are struggling for both so they borrow money to try and pretend they are creating wealth which comes from growth and jobs.
We are going through an adjustment period now searching for global equilibrium with respect to capital treatment and if we recognize it we would be a lot smarter about what we do next.
Could not "getting less money back" be equated with "increasing taxes"?
The world is losing low-paying low-skill jobs to asia because they have too many people who are willing to work for bare subsistence wages.
or do they just have too many people willing to work?
If you're willing to work for wages that an asian worker will work for, then I've got some work for you.
Incomes of $10-15K per year in Asia are considered middle class, and the average worker makes a couple of hundred bucks a month in a manufacturing job. You can come up with a lot of quips, but none of them hold water in reality.
To continue with the reality of the situation, if you want to do janitorial work (ex. mop floors, clean toilets, sweep) for me, I'd be more than willing to pay you $300/month to do so. Do keep in mind that you'd be working 40 hours a week as a minimum, to keep in line with Asian manufacturing working hours. Interested?
Fortunately I don't have to worry about Asians taking my job. Thanks to my talent, skills and work ethic I can't be replaced by your average Chinese guy. My employer understands this and is glad to pay me top dollar to piss excellence 24/7. By the way, if you are actually interested in hiring me, my rate is closer to $1000/day.
You're ignoring what my reply was to your statement that "perhaps the Asians are just willing to work" (implying that Americans are unwilling to work).
I pointed out that no rational person in America would work for wages and conditions comparable to many (the majority?) Asian manufacturing jobs. I then offerred to employ you under the same parameters, and you got offended.
Working 40 hours a week was not the issue -- working a minimum of 40 hours a week, under poor (and largely unregulated) conditions, and for $5-10 a day *is* the issue. That's why the manufacturing jobs are in Asia.
I'll go out on a limb on this one -- should anything happen to you in the future such as loose your job or some benefits -- how many will you push out of the way to be first in line to get YOUR share of the government benefit pie -- to make your mortgage or buy food - or pay your bills --
At least the signs would have a name on them -- what BS -- I hope you don't ever need any compassion or understanding in the future.
"I hope you don't ever need any compassion or understanding in the future. "
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It was never 'compassion'. The so-called government benefit pie comes first from the confiscation of others.
That's the problem with society, people like you.
You can argue that riches should be shared which is a clear socialist position but you cannot say you are a capitalist or libertarian and at the same time endorse the current tax schemes and abuse of our economy and financial system by our government bodies.
Thomas Jefferson wrote under a pen name as well as other founding fathers so no big deal.
Oh, and not that I need to answer you Wyatt -- but when you get back from cashing your social security check and read this -- I don't live off of welfare or any other social program. Some of us actually have earned money trading and have contribute to philanthropic causes to better the areas where we live. Unlike you who can do nothing but spew crap and lies and try to belittle and bully people into falling for your righteous act.
Just understand where their hatred comes from: The new progressive left's motto is a simple one: 'Freedom From Liberty' right out of 1984.
The left is afraid of winners and losers. It is always just one more French Revolution for them. Not an American Revolution, mind you. Big, big difference.
Egalitarianism is the enemy of liberty and viceversa.
The left would quash liberty in order to prop up the illusion of equality. And they have no qualms doing it via force.
Equality not freedom. That is the essence of their disease.
Once you understand them, then you can see them for what they are.
We just broke a new record today. 48.5 million on food stamps. That is the left's new vision. The more they can broaden that base, the more they can use that hatred to their advantage and enslave more dependents. Every welfare program of the last 75 years has been the same. To weaken the host, thus ensuring a forever lock on power.
My apologies --
You are spot on: The American and French Revolutions were polar opposites: The French a rabble incited swell from the ground up. The American from the top down, led by people with everything to lose---the skin of their own asses, as well as their wives and children.
The French Revolution, within 6 months, had devolved into a blend of vigilante/totalitarian... It was revisited in Mousillini's Italy and Hitler's Germany, Stalin's Russia, Franco's Spain, and Madame Mao's Cultural Revolution.
The American Revolution took over a decade to shake out (ratify via the states). Over a decade!
Time, and the tortuous patience required to live with the rule of law is what separates girls from women, men from boys and the civil from the entitled, petulant & inconvenienced.
This is the difference and it is huge. Egalitarianism cannot coexist beside liberty. And liberty cannot stand with egalitarianism.
Now apply this to an average Obama speech. He does not mention liberty, what most immigrants come here for, the simple opportunity to be free and make a life for one's self without it being robbed by a central (corrupt) government. But he leans big on redistributive, big government confiscation(the Vig) and command/control dissemination. It is a vile philosophy. And his base is comprised of it.
Your persistent attempts at Freudian analysis are pure guesswork. If you don't agree with Wyatt that's fine but give it a break. Refute his ideas but give everything else a break. And nobody owes anyone full disclosure on this board anyways.
Apparently you forgot that the financial meltdown happened during the 8 year period that Dubya and the GOP was running the show?
Now, the people are being brainwashed into screaming to chase Obama out of town, in order to put "real leadership" back in the Whitehouse? LMAO. Are people *really* this stupid?
America has to stop deluding itself, as a first step to recovery.
1) End 50 Bazillion weeks of unemployment benefits.
2) Teach the younger generation about farming, and self preservation.
3) Review all open disability claims nationwide and investigate anyone claiming disability. Odds are 75% of all disability cases are frauds.
4) Default on all debts, stop playing games and lets take the medicine we need to take to fix this corrupt, broken country.
5) Force all young people upon graduation from high school to serve in the military for 24 months and destroy once and for all this insane entitlement mentality that is ruining our country.
6) All students graduating high school should meet minimum intelligence requirements or be forced to repeat high school until they are no longer walking illiterates.
7) All Americans who are pretending to be rich, when in fact they are truly broke and possibly have no future should have their names, faces, and family posted in every paper across the country to end this fantasy that all Americans are flush with cash and wealthy.
So what if it means that over 200 million Americans will be embarrassed. It will end the practice of "keeping up with the Joneses" once and for all.
8) Do not raise taxes. Force the corporations to pay the hundreds of billions of dollars in taxes they owe on all those overseas profits they gained from employing slave labor.
9) Enact term limits for all of government today. Now. End the absurd health and pension benefits for politicians.
10) Investigate every single politician for misconduct and build new jails for all the government officials who should be in jail right now.
Just saying. Seen enough headlines and fraud out there.
Each and everyday its becoming more and more clear.
People are lazy crap piles who if they could, would live off someone else.
The un-productive living off the productive.
I look forward to the day the money runs out.
I am done taking care of the un-productive.
Most recent case I ran across was from a person with a bad back in their 50's and was still working who was shocked that the couple living across the street from them was receiving disability for migraine headaches and they were both in the 30's. Person felt stupid for not applying for disability. This is racketeering.
I always thought it very odd that Personal Finance is not a required class in high school everywhere. And learning how to acquire 25 credit cards is not a way to test out.
This saves money, but causes civil unrest...which costs money. And often lives.
> 2) Teach the younger generation about farming, and self
> preservation.
Teaching costs money. Who's gonna pay for that?
This will grow government, or at least government influence. If you hate the government so much, do you really want them teaching everyone how to live off the land?
> 3) Review all open disability claims nationwide and investigate
> anyone claiming disability.
Reviewing and investigating costs money. Who's gonna pay for that?
This will grow government, or at least government influence. If you hate the government so much, do you really want them deciding who is and who isn't disabled? Furthermore, how is that different from how it is today?
> Odds are 75% of all disability cases are frauds.
And 84% of statistic are made up on the spot. Links, or it didn't happen.
> 4) Default on all debts, stop playing games and lets take the
> medicine we need to take to fix this corrupt, broken country.
All national debts? Good luck with that.
> 5) Force all young people upon graduation from high school to
> serve in the military for 24 months and destroy once and for all
> this insane entitlement mentality that is ruining our country.
The military costs money. Who's gonna pay for that?
This will grow government, or at least government influence. If you hate the government so much, do you really want them indoctrinating all our young people? Remember, the military is the government too.
> 6) All students graduating high school should meet minimum
> intelligence requirements or be forced to repeat high school
> until they are no longer walking illiterates.
Repeating high school costs money. Who's gonna pay for that?
This will grow government, or at least government influence. If you hate the government so much, do you really want them continuing to teach kids they failed to teach well in the first place?
> 7) All Americans who are pretending to be rich, when in fact they
> are truly broke and possibly have no future should have their
> names, faces, and family posted in every paper across the
> country to end this fantasy that all Americans are flush with
> cash and wealthy.
Posting names, faces, and family in papers costs money. Who's gonna pay for that?
This will grow government, or at least government influence. If you hate the government so much, do you really want them deciding who is and who isn't pretending to be rich?
> 8) Do not raise taxes. Force the corporations to pay the
> hundreds of billions of dollars in taxes they owe on all those
> overseas profits they gained from employing slave labor.
...I kinda like this one, let's leave it be. :)
> 9) Enact term limits for all of government today. Now. End the
> absurd health and pension benefits for politicians.
Precisely how does this encourage better and brighter people to opt for public service? If you cut compensation too much, the only thing your elected officials will know how to do is ask "Do you want fries with that?"
> 10) Investigate every single politician for misconduct and build
> new jails for all the government officials who should be in jail
> right now.
...I kinda like this one too. :)
Investigations and jails cost money. Who's gonna pay for that?
This will grow government, or at least government influence. If you hate the government so much, do you really want them deciding who among their own should and shouldn't be in jail? Furthermore, how is that different from how it is today?
So, on the whole, you're costing us more money and not changing very much. Oh well, at least #8 has merit.
Cheers. :)
Teach people about farming? Perhaps we can all go back to making our own clothes and to dig a well in our backyards
Sounds like a recipe for a modern economy and very competitive globally
There is no sense in wasting time having them attend HS since intelligence is 60% heritable at least and the dye is cast on the environmental variation to a great extent by HS (i.e. there is nothing some people can do to change their lot)
We may also consider just killing those who can't meet our minimum
Of course we might need a new dept of eugenics to administer this
Just not a very important issue
Not so with the skkkumbuckets.
It started in 1913 with the invention of the income tax and grew progressively worse with the invention of the IRS which fed the machine. FDR and LBJ created huge structural problems for us in the future by crippling the middle class into a mentality of slavery by force(just check a recent paystub if you're confused) and the creation of the ghetto itself with LBJ's Great Tenement House Society(ie, future democrat voters) and here we are now with the Occupy Food Stamps crowd.
Democrats have been breaking down businesses and stealing from the productive class for over 65 years now. There is no going back, only a crash landing of insolvency. We have trained ourselves to eat the hand that feeds us, then move up to the elbow, the shoulder, etc. We are now approaching the jugular.
First off, school is now the problem. So a quarter of your points are irrelevant. Public school is now just a union john vote buying scheme for indentured crats. And jails are just poor excuses for not really punishing people for their crimes. Look at Singapore. Cops? Try the 2A and practice it. Then quit yer whining, etc. etc. etc. big state luvver.
You stated that 25% of disability cases are frauds, and yet you have no figures whatsoever to back that up. Your answer to the questioning is "just saying"? Why don't you stick to saying things that are not just nonsense pulled out of the air?
Try turning off the Bill O'Reilly show, as you're actually starting to believe the nonsense.
You also said "I look forward to the day the money runs out" -- do you have your canned food stockpiled already?
Do you really pay such high taxes that you are "taking care of the unproductive"?
Your comments are so simplistic, it's mind-boggling. People love simple slogans to distract themselves from reality and avoid doing some real thinking.
That's just one segment of the "disabled" crowd, too. A human back is a strong thing (I know - I take mine to the limit daily). You may strain it by picking up a can of peas the wrong way, but it will recover and you don't need SSI for the remainder of your life.
When I was a store manager many years ago, one of my cashiers called an ambulance (her decision, without consult) to address a small cut on her finger. She ended up getting workman's comp, and her medical bills for her cut finger came out of the store's (MY F'ING P&L) revenue. For a cut finger that needed a bandaid.
Wake up. People abuse the system. Often. VERY often.
Archman stated that 25% of disability cases are frauds and he pulled that number out of thin air, with ZERO actual proof to back that up. Anecdotal evidence is not equal to actual valid statistical evidence.
My impression is that people are looking for Straw Men and scapegoats to abdicate their own personal responsibility (ex. "The free-loading disabled people are to blame for ......").
The fiancial system meltdown caused by the fraudulent actions of financiers has cost an amount in the Trillions. How does this compare to the alleged "disability scammers"? The dollars involved, even assuming that your assertions are correct, pale in comparison.
Bashing the weak and the poor has become fashionable these days, but it's deplorably simplistic and mostly a bogus argument that "lazy" people are to blame for the current state of affairs.
I've lived in and/or worked in the "ghetto" almost my entire life (still do from time to time even now), and I think the anecdotal stories I could tell would be closer to reality than any government (or who/whatever) statistics anybody can provide.
It's not just disability. The whole system of "freebies" is gamed.
I'll go Archman one better and say 90% or more of those on the government tit don't really (sit back, relax, and think about what 'REALLY' means) NEED it.
My mom & dad NEEDED help back in the '30's, and they got a wagon of potatoes. I'm all for that kind of help. I'm not an advocate of starving people to death.
Take away the crutches (or only give them out judiciously), and I think a lot more people will miraculously walk than you think.
You stated that 25% of disability cases are frauds, and yet you have no figures whatsoever to back that up. Your answer to the questioning is "just saying"? Why don't you stick to saying things that are not just nonsense pulled out of the air?"
Actually I said 75% are frauds. From the headlines i read everyday, the more cases are being uncovered, yep I am more sure than ever most disability cases are frauds. Oh sure, there make be "something wrong" with someone, however to many people would rather sit at home and collect a check than put in a productive days work.
"Try turning off the Bill O'Reilly show, as you're actually starting to believe the nonsense."
Sorry. I do not follow politics nor do I watch the liars on cable news. I am not one of those sad American men with their pants around their ankles, having a good time, watching the lies and hate spewed by the opposing networks who are secretly in collusion anyway to convince Americans to hate each other instead of going after the real criminals out there: our corrupt politicians.
"Do you really pay such high taxes that you are "taking care of the unproductive"?"
As a matter of fact I do, in property taxes, corporate and personal taxes.
"Your comments are so simplistic, it's mind-boggling. People love simple slogans to distract themselves from reality and avoid doing some real thinking."
I know..right? Then again you offered nothing so there you go.
Buh Bye.
"I mean, it's like, how is EVERYONE supposed to get through high school and they all learn a lot? Lots of people just aren't very smart and can't learn."
Nice slogan.
And BTW nobody who has access to the data in government wants to really know how much fraud is going on with respect to disability as it would be a scandal and call out people nationwide who are stealing from everyone else. Never mind it would downside an agency immediately.
The current economic problems are due to the "disabled people and welfare cases", according to your views?
What about the Trillion dollars and counting due to the financial system fraud? Were the people running the banks disabled and on welfare too?
You are two peas in a pod, and deserve each other -- other people shouldn't be so lucky to have your "wisdom" to listen to. Now, if you spread it on a field to allow crops to grow, it'd be useful.
Thanks for providing some thoughtful commentary, unlike several other commenters who spew nonsense non-stop.
Rather than thinking more and trying to come to some real solutions to actual problems, people have found (as is always the case) vulnerable people to scapegoat and use as Straw Men.
If you want to save money, get the bankers to return the money they've stolen. Disability fraud is (dollarwise) a drop in the bucket compared to the Trillions lost due to the financial fraud.
The handicap placards issue may be important due to its reflection of the moral turpitude of many people, but it is not the reason why people are scapegoating.
People are scapegoating because the financial crisis and Great Recession have made them poorer financially. And the cause of the Great Recession/financial meltdown was ...disabled people and welfare recipients?
Perhaps if people read that last sentence and said it out loud, they'd realize how misguided they are in saying such an inaccurate and foolish thing.
Re. Item 5) on your "Prescription For America" -- everyone will do their 24 months of mandatory military service right after you have finished your 24 month service period. Let us know when you're done.
"I know..right? Then again you offered nothing so there you go.
Buh Bye."
As long as you're leaving, I'm happy and have nothing further to add.
We can do this all day. Just multiply the UAW times the number of state agencies working off the graft of the system which is now publicly unionized.
Welfare cases ARE now public employees and have been for a long, long time. Get with the program and wake up. Why is California going broke? Unions. CAL PERS. State pensions. The SEIU like a damn blood drain funnel on every taxpayer, man, woman and child. Batteries for The Matrix.
Where the hell have you been?
As far as 'trillions' of dollars, if you wanna bitch, where is the social security fund? How many unfunded liabilities are now in medicaid? Eh? Yeah, might want to look into it.
You think the banks are bad? At least they paid back the taxypayer loans with interest. The same can't be said of every paystub of every American worker for the last 70 years that has been stolen from the so called 'slush funds' *ahem I mean 'lock boxes'.
Who is draining America? Entitlements, taxes looted and robbed by politicians. Welfare recipients. And more and more promises for more, more, more. That's the $115 trillion dollar hole! Find a clue.
I'm personally not a licenced medical practitioner, so I don't feel qualified to report people based on my impressions and observations alone.
My dad told me a story of a guy at his work who was once a friendly and nice person, but he became a complete grouch, with a frown on his face all the time.
Other people at work would comment "Look at that miserable SOB, always grouchy, never smiles, never a positive word to anyone else". My dad said that he never said a bad word about the guy, but did wonder why he was so miserable all the time.
Well, as it turns out, the guy was diagnosed with a terminal inoperable brain tumor, and was working to try to earn as much money for his family as he could before he died, which was about 9 months later.
Perhaps the lesson might be to not judge others unless you know what the reality of the situation is.
On the other hand, people can be a judgemental blowhards, and then wait for Karma to deliver the appropriate payback.
Except they don't provide any work and it's difficult to fire them.
Hope you are not shocked but someone actually took these loans out. Went to the bank and asked for the loan.
My point is and has always been the same:
Blame & consequences logically should go to those responsible for the meltdown, rather than weak scapegoats (as has been suggested by the weak-minded).
New taxes are just not possible as it is like giving a little crack to an addict. It will never end.
What I've been doing for the last 5 years.
Absolutely. But only if we add all the banks who OFFERED those people those crappy loans.
It takes two to tango.
And then all the bigger banks that bought those crappy loans and sold them to investors as top-rated securities.
And all the ratings agencies who gave those crappy loans top ratings.
And all the even bigger banks who bought default swaps on that debt that they didn't own.
And all those insurers who sold those even bigger banks those swaps on that debt that they didn't own.
And all the regulators who watched all this happen.
And all the elected officials who cheered this on.
And the appraisers, the realtors, the brokers, the traders, the HFT front runner bots, the CEOs with golden parachutes, the risk officers who ignored all risks, the financial advisers who advised people to buy houses they couldn't afford, etc, etc, etc, etc, etc, ..... ..... .... .......
Whew. I guess it takes a LOT of people to tango.
Absolutely. But only if we add all the banks who OFFERED those people those crappy loans.
It takes two to tango.
======================...
Wrong. It takes three to tango
1. Bank
2. Bank employee
3. Borrower
In this particular tango
Bank employee
Who authorized loan in exchange for bonus
and
Unqualified borrower who took money because nobody was watching them
are perpetrators
Bank is the victim
Banks have to be removed from public ownership and run by private parties to stop that tango
A lot of corruption in the housing industry which you point out.
However there is also the same problem in the auto industry. People buying cars they cannot afford funded by subprime loans or loan funding costs buried in the price of the car. And people getting robbed on their trade in car, etc.
Are we going to shut down the auto industry? Anyone who buys a new car every 5 years spends on average around $35K so in 20 years they have dropped $140K plus the loan costs and costs of insurance, etc. That is a huge drain on household finances and they have nothing to show for it at the end of the 20 years.
Homes and cars are the two biggest purchases in household finance. If they are screwed up then it is difficult for households to function correctly. Is it the government's role to run the finances for every household?
More people should be frugal like me. :)
In retrospect, I should have, too (was my first and only "new" car ever). It had to have been made on a Friday, at about 4:58 in the afternoon (head gaskets (twice), instrument cluster (twice), leaky trunk, transmission BANGED when putting in reverse, etc....) When I sold it on a Neon enthusiasts message board (yes, they exist - they race them, I guess), my username was 'LemonNeon'.
Oh well, I got $500 for it and got it out of our driveway. ;)
Wait, the bank just loaned you money to buy a car that ended up being crap? Why didn't you sue the bank for letting you buy a poorly made car?
-In retrospect, I should have, too (was my first and only "new" car ever). It had to have been made on a Friday, at about 4:58 in the afternoon (head gaskets (twice), instrument cluster (twice), leaky trunk, transmission BANGED when putting in reverse, etc....) When I sold it on a Neon enthusiasts message board (yes, they exist - they race them, I guess), my username was 'LemonNeon'.
Oh well, I got $500 for it and got it out of our driveway. ;) -
And, BTW, I am all in favor of #1, #2 (pretty much) and #3 - cut 20% per year until the budget is balanced.
cut all federal departments 20% over 4 years.
======================...
20% over 4 years is a big mistake. Terry
20% cut each year over next many years.
It is how non-government businesses operate, if they deliver to its customers Y/Y product grows = 1
Your 20% over 4 years appears election campaign driven
Happily the US and Canada did not try to economize their way back to prosperity and even a bankrupt UK created the foundation of a juster society rather than deflate themselves into penury.
In 2009, 10 executives at the government-seized mortgage giants Fannie Mae and Freddie Mac received $12.8 million in bonuses. Politico first reported the $6.46 million in bonuses for the top five officers at Freddie Mac -- including $2.3 million for CEO Charles E. Haldeman Jr., who is stepping down next year -- and $6.33 million for Fannie Mae officials, including $2.37 million for CEO Michael Williams, for meeting modest goals.
A second bonus installment for Freddie executives in 2010 has yet to be reported to the Securities and Exchange Commission, Politico reported.
Since 2008, these two organizations have gotten more than $141 BILLION in taxpayer funds to bail them out.
The major fraud is the 1% at the top of the food chain who are eating our life savings and getting away with less taxes than most of us.
This is Ben Stein's opinion. That and $4 will get you a latter at Starbucks.
E