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fransgeraedts (99.93)

What is wrong with the world economy

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August 06, 2010 – Comments (3)

Profits are to high; taxes and wages are to low.

fransgeraedts

3 Comments – Post Your Own

#1) On August 06, 2010 at 9:36 AM, russiangambit (29.45) wrote:

I don't think there is anything wrong with the world economy. US econmy and UK economy, they do have problems. Most other countries are doing fine, comparing to where they came from.

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#2) On August 06, 2010 at 9:51 AM, lemoneater (79.25) wrote:

Aren't high profits the goal of any company? Are you thinking about dishonest companies which lie about their balance sheets? Or unethical companies that cut corners on safety at the expense of human lives? Or companies that bribe and intimidate their way to wealth?

Where are taxes too low? I always thought that lower taxes meant more take home wages and consequently, a better standard of living for ordinary people.

One of my friends lost her family's home in Martha's Vineyard because the taxes on the modest sized historical home were too high for the family making ordinary wages to pay. Another true story, a hard working 90 year old master gardener in NJ transformed his 1/2 acre with water features and rare plants into what was assessed as a half a million dollar property making it impossible for him to afford the taxes so at his death the property reverted to the state and not to his family.

(Perhaps you meant that taxes are too low to adequately cover the numerous government sponsored social programs. I wish more social programs worked on building infrastructure and created job skills and pride in one's country. I'm for social programs that help the needy by giving skills, not creating dependencies. My Grandpa worked for the CCC, but ever after held down regular jobs and didn't live on welfare.)

Have a good Friday!

 

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#3) On August 06, 2010 at 11:12 AM, chk999 (99.98) wrote:

Profits are to high; taxes and wages are to low.

Yes, it is well known that the countries with the highest tax rates have the strongest economies with robust job growth. 

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