But not for the reasons that Winnie thinks.
If Italy and Spain get caught in the Euro-crisis, expect another recession. Tapping the breaks in Asia and Brazil, a prolonged slowdown in USA and the Euro coming apart at the seams are not signs of a healthy global/macro environment.
Add the foolish brinksmanship in the budget/debt negotiations and you have a recipe for some real damage. No new taxes?! What are these guys thinking?
Tax and spend in excess is bad policy, but continue the Reaganite-republican policy of spend and dont tax? That is just plain crazy.
Maybe they should put a tax on pomade... Bonner could reduce the federal deficit all by himself!
- Oil companies and other big businesses do not need loop-holes and do need to pay their share
- Small business does need more incentive and fewer barriers
Apparently, we do not agree:
- Obscene wealth accumulation should be permitted... and taxed obscenely
- * the question should not be about raising taxes just so govt can spend more.* I never said it was... the point is that government should be fiscally sound. Those with the ability to pay more should pay more to support the governmental services we need and depend upon including SS, Medi, Defense, vital infrastructure, debt service, etc.
Gotta thin the old (and diseased) growth in the forest to get rejuvenation.
instead, we've seen Goldman sponsored arborists out their treating the old sick trees.
And futures traders betting that there will be a shortage of lumber in the years to come.
I hate to keep repeating this theme but the question should not be about raising taxes just so govt can spend more.
Atleast not until a serious exercise is taken to limit spending .
instead, close the darn loopholes so that GOOG, GE,AAPL, CSCO et al pay their fair share.... on their worldwide income like people do!!
Domestically oriented firms pay a much higher (effective) tax rate than these publicly traded large and medium sized corporations do because of the offshore games they are allowed to play that allows them to reduce taxes to riduculously low levels.
And really small business (that often gets taxed at the personal level) already pays enough taxes, not to mention having to deal with increased regulation that is a real nuisance because they don't have the scale to deal with it efficiently.
Instead, Obama wants to get more taxes from small firms and oil companies when in fact they already pay at a higher effective rate than most others do ( including the likes of GOOG and GE) yet he wants to make the playing field even less level by removing the tax deductibilty of certain expenses for the oil companies.
what is he thinking?
Is he trying to discourage domestic job creation and oil production and make the country even more dependent on imports and worsen the trade deficit and balance of payments or is this part of an overall strategy to further weaken the economy and the dollar?
Talk about stupid and misguided policy.
The Us is becoming increasingly unfriendly to free enterprise and small business and the results are speaking for themselves.
Increasing taxes on small busines to give raises to public sector workers is NOT the way to go!
Forget that most responsible, mainstream, economists and business people think that QE and the bail-outs were a necessary evil in a desperate situation...
What do you think would have happened had there been no bail-outs and QE? What is the vision/outlook you have for an America based on not-so-creative-destruction and the supposed-to-be-but-never-really-free market?
Here is what I think: Decades of economic paralysis due to economic contraction, lack of credit, illiquidity in capital markets, deflation, stock market crash, real estate values spiraling downward, mass (more massive) unemployment due to BKs in automotive, financial, real estate, manufacturing and service sectors, bread lines, riots... a bonanza for firearm manufacturers, bunker makers, and distributors of spam and canned tuna.
Much of this actually occurred despite effors to address the crisis! Imagine how much worse the situation would be today in the absence of those efforts!
Yeah, I'm waiting for more stimulus and govt spending since they've proven what great capital allocators they are.
More like capital alligators!
To repeat: <<Taxing or borrowing $266,000 from the private sector to create a single job >>> (on avg) is just what the economy needs!
If you ever get back east there are some amazing art centers outside of NYC... analogous to the places you mentioned a couple weeks ago in rural Texas.
and the exceptional
The current art world is analogous to the current pop music world. It's all about marketing and image.
Serra=skilled craftsman with thoughtful/contemplative imagery
Koons=Sigue Sigue Sputnik of the art world LOL. Well, not exactly....but we can agree.
I tend to like a lot of older school painters of different periods/style but in general I like color. I lean towards "painterly" painters whether abstract, non objective, or painterly realist. I could make a huge list, but here is a little sampling...
http://www.richarddiebenkorn.net/paintings/diebenkorn_landscape_figurative/diebenkorn_landscape_figurative_paintings.htm My favorite!
http://www.abcgallery.com/B/bonnard/bonnard.html Another fav! I love Bonnard.
I actually have VERY diverse tastes when it comes to art and music. During the 80's I was totally in post punk ala Joy Division, Bauhaus, The Teardrop Explodes, anything English. I tossed my 70's hard rock roots in the garbage for new wave. Now I've seen it all come back lol. Crazy ride!
I'll take Davis and Trane anyday at this point.