The Broken Window Fallacy

Reposted from: http://www.youtube.com/watch?v=gG3AKoL0vEs

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[alexisawsomeya]

@AletheiaZetetic if all debt is repaid, there wouldn't be anymore money. In reality are monetary system is a fallacy, and this is just an example of the pure insanity we live in today. From fractional reserve banking to financial terrorism, are financial system is and has been broken. It really is that simple

[AletheiaZetetic]

Sorry but your understanding of the "Broken Window Fallacy" is, itself a fallacy. You claim that when money is given to public works that it is taken from taxes which would have gone to other goods and services. But tha'ts just not necessarily true. The problem is you're basing your belief system on rigid ideology. It's much more complicated than that. The correct answer is: "It depends".

[uFlubber]

The reason money is being earned in other countries is that our corp do lots of business in other countries.. duh

[luvcheney1]

@uFlubber First of all, the most obvious thing is why the money is being earned in other nations and not here. Answer? Profit is higher, elsewhere. Lots of reasons for this, taxes, labor costs, lawsuits, regulations, environmental, etc. So, ANY changes we can make that INCREASE corp profit in the US will incentivize Corps to stay, and other corps to come, or come back. Your point is that corps may just give the money back as dividends. Americans with money is bad? Govt isnt getting tax anyway!

[uFlubber]

CBPP: Many Analysts Reported "No Evidence" 2004 Tax Holiday Increased Job Creation. Explaining that proponents for a tax holiday for corporate repatriation in 2004 also promised "a large number of new jobs" and a boost to economic growth, the Center on Budget and Policy Priorities noted:

 These promises were not borne out. As researchers at the National Bureau for Economic Research, the Congressional Research Service, the Treasury Department , and outside

[uFlubber]

@luvcheney1 CBPP: Many Analysts Reported "No Evidence" 2004 Tax Holiday Increased Job Creation. Explaining that proponents for a tax holiday for corporate repatriation in 2004 also promised "a large number of new jobs" and a boost to economic growth, the Center on Budget and Policy Priorities noted: These promises were not borne out. As researchers at the National Bureau for Economic Research, the Congressional Research Service, the Treasury Department , and outside analysis

[OccupyIdeas]

@luvcheney1 more than one result? it's the top result, an article about the millionaires who went to congress demanding that their taxes be raised. just check it out if you have a minute. we'd like to hear your take. we like your most recent response. yes, capital SHOULD increase living standards, and money SHOULD trickle down, but it doesn't. That is reflected VERY clearly in the CBO report on growing income inequality since the 70s. But we all def agree that failed gov policy is involved here.

[luvcheney1]

@OccupyIdeas Part 2) Recently I found IRS figures for 2009, and added together all income (cap gains, personal, etc) from $200K yr on up. It came to $1.06 Trill. Lets assume today is $1.4? IF you could raise actual % return to Govt by 15% more, on cap gains, personal, etc that is only $210 bill a yr, we have a $1400 bill annual deficit. Of course, taking additional $210 bill out of pockets of everyone over only $200K will cause reduced economic activity by them, increased avoidance, evasion.

[luvcheney1]

@OccupyIdeas I get more than 1 result? You avoid making your case yourself? If a guy makes $100 mill a yr, and you take $2 mill more, sure, he will be fine, I`m sure! THAT isnt the point though! He obviously will have $2 million less. He of course will have to avoid $2 mill economic activity, The usual Lib argument is that the rich save more. ( 12% Clinton term). But more consumption is only a short term boost. Capital increases long term increases in living standards.

[OccupyIdeas]

@luvcheney1 haha, guess flubber isn't answering your arg the way we did, so you're moving in on him (as you should:) Check out this article, especially the last paragraph. It speaks directly to your strippers analogy, which, as we said, would be totally appropriate were we talking about raising taxes on the upper-middle class, but we're not. Let us knw what you think. These millionaires are smart guys, not "dirty hippies:)"

(Just google "cnn tax millionaires" and it should show up.)