Inflation

[KaiineTN]

Wonder why the price of gold is so high? It's going to get higher.

[Gypsiyee]

the fact that you still post your videos that no one takes seriously has got to be the 8th wonder of the world.

[brinstar]

blah blah blah

[Zanchief]

Do you cuddle up with your copy of Atlas Shrugged at night Flink?

Your government paranoia is reaching ludicrous proportions.

[Drem]

the fact that you still post your videos that no one takes seriously has got to be the 8th wonder of the world.

[Jay]

the fact that you still post your videos that no one takes seriously has got to be the 8th wonder of the world.

[KaiineTN]

Lawl, paranoia? Worry over the Fed creating inflation is ludicrous paranoia? That's not even government, by the way.

Do you think never ending inflation in a currency is a good and/or necessary thing? It is the most sinister form of taxation.

[Arlos]

Given the choice between low levels of inflation and the economic death spiral that is deflation, then yes, absolutely, inflation is superior. High levels of inflation are certainly bad, but we're not seeing them at this point, now are we. Indeed, the biggest worry I've seen from most economists is the kind of deflationary spiral that killed the Japanese economy for a decade. When the economy heats up, and inflation becomes an actual worry, then the fed will start tightening the money supply again to keep it under control.

-Arlos

[KaiineTN]

The Fed will never raise rates to where they need to be. Practically all of our government debt is on an adjustable rate mortgage now, tied to the Fed's low interest rates (it's all in 1, 3, 5 year bills, rather than 15, 30).

Since so many of you don't take Youtube links seriously, how about a Comedy Central one! Here's my two favorite Jews in one place, Peter Schiff and Jon Stewart:

http://www.thedailyshow.com/watch/tue-j ... share_copy

This guy is worth listening to, if only for a vastly different perspective to consider than what you get from both conservative and liberal news outlets.

[Arlos]

Considering the highest rate of inflation the US has seen since the 1920s has been just over 13% in 1980, and the highest it's been since 1990 is 3-4%, I would say that it's been doing a pretty damn good job of keeping inflation to quite manageable levels. Especially when you look at other countries which have had insane levels of inflation, and in some cases even hyperinflation where the inflation rate hits insane levels. For an example of that, look at what Zimbabwe saw in 2008, where their inflation rate was, literally, 8.97x10^22 percent. That's about 90 SEXTILLION percent. Prices doubled every 5 days. Post WW2, Hungary had a brief stretch that was even worse, where they had prices doubling every 13 and a half HOURS.

So yeah, a 90 year history of inflation never even reaching 14%, and a 20 year history of it not even getting above 5%.... How, exactly, is that a horrible crushing obliteration of our economy? /boggle

-Arlos

[Drem]

[Arlos]

Actually, as of 1983 at least, it was 50% under Reagan, not 28% like it shows there. Look in one of the earlier threads, I posted a link to a site that has historic tax rates going back to like 1916.

-Arlos

[KaiineTN]

It's not the taxation that bothers me, it's the spending. I'd certainly love to see lower taxes for everyone, though. I wonder what would taxes need to be if we didn't use deficit financing?

Does it bother you when you hear political talk about "how are we going to pay for tax cuts"? Doesn't something sound fundamentally wrong with that perspective? How are we going to pay for allowing people to keep more of their earnings?

Did you know that this year the death tax has been suspended? Only the government could give you an incentive to die sooner. This year, if you die, and leave $1,000,000 in assets to your children, they can keep those assets. If you die on January 1, 2011, your children would have to pay a 55% tax in order to inherit said assets. If they do not have sufficient cash, the assets must be liquidated in order to pay the tax (which can easily kill a family owned business). Do you think that sort of tax is... right?

[Tikker]

Does it bother you when you hear political talk about "how are we going to pay for tax cuts"? Doesn't something sound fundamentally wrong with that perspective? How are we going to pay for allowing people to keep more of their earnings?

you realize they mean what programs are they going to have to cut?


yes financial deficit spending is a dumbass way to go

but it's pretty much a guaranteed win to just disagree with anything you say flink

[KaiineTN]

Tikker is awesome.

[Jay]

Tikker is awesome.

I see what you did there

[Arlos]

Estate tax serves a very valuable purpose in a democracy. It helps prevent one family/clan/dynasty from accumulating ever-growing unchecked levels of wealth and power. In short, it's meant to check the growth of what in other societies, become the oligarchs, and benefit the rest of society thereby.

-Arlos

[Reynaldo]

You seriously prefer the government takes 50% of whatever you may get from a future inheritance because it's "good for democracy" to make sure the Arlos DeArlos family dynasty won't emerge?

That's your true personal feeling and not what the left wants you to say? I really can't imagine anyone being for that.

I would think in the same vein as the Fair Tax debate, that the left would side more with getting rid of it since it hurts the poor more than the rich. I'm sure a rich guy doesn't give a shit if he loses 250million of a 500 million inheritance, but losing 50,000 of a 100k inheritance would hit a poor or middle class family a lot harder.

[brinstar]

derp it all depends on where the brackets are drawn

dude loses half a bil? give no fucks, no one "needs" that kind of $

dude loses half of 100k? that's a big deal obv

[Arlos]

Exactly, that's why there *IS* a minimum dollar value before the estate tax kicks in. I believe it's in the range of 600k-1mil or so before you pay any taxes on an inheritance.

And yes, personally, I'm for it, and yes, when my parents die, I WILL be paying it.

-Arlos

[Tossica]

My kid will get a room full of dusty records when I die. That's about it.

[Drem]

yea i'll get a couple (dope) guitars and a mortgage payment to deal with