Page 10 of 12 FirstFirst ... 89101112 LastLast
Results 181 to 200 of 223
Like Tree81Likes

Thread: article: It's Not the Wages Stupid

  1. #181
    <jbc>'s Avatar
    <jbc> is offline Titanium
    Join Date
    Jun 2011
    Location
    Oberaargau Switzerland
    Posts
    2,281

    Default

    Quote Originally Posted by thruthefence View Post

    That is 3/4 of 1% on assets in excess of 100 million.

    correct me, anyone? I am getting old.
    When Iceland nationalized and liquidated the assets of their banks they didn't just take 75 basis points. The defaulted on the full account. I suppose when government seizes the assets of a bank that is a tax.

  2. #182
    thruthefence's Avatar
    thruthefence is offline Titanium
    Join Date
    Jul 2008
    Location
    People's Democratic Republic of Louisiana
    Posts
    2,557

    Default

    "I suppose when government seizes the assets of a bank that is a tax. "

    Sorry, this is a example of nationalization of private enterprise, not a "Wealth Tax" in the context of these postings.

    Wealth tax - Wikipedia, the free encyclopedia

    "A wealth tax is generally conceived of as a levy based on the aggregate value of all household holdings actually accumulated as purchasing power stock (rather than flow), including owner-occupied housing; cash, bank deposits, money funds, and savings in insurance and pension plans; investment in real estate and unincorporated businesses; and corporate stock, financial securities, and personal trusts"

  3. #183
    <jbc>'s Avatar
    <jbc> is offline Titanium
    Join Date
    Jun 2011
    Location
    Oberaargau Switzerland
    Posts
    2,281

    Default

    Quote Originally Posted by thruthefence View Post
    "I suppose when government seizes the assets of a bank that is a tax. "

    Sorry, this is a example of nationalization of private enterprise, not a "Wealth Tax" in the context of these postings.
    Please note that I never made that claim. If you've somehow infered that, it was not my intention.

    I mostly want to bring attention to the massive reservoir of untouchable wealth that is the common man's liability.

    Bear-Stearns blows up ... crickets
    Lehmann blows up ... crickets
    Fannie + Freddie ... crickets
    MF-Global ... crickets

    Trillions in FED QE, from the taxpayer to the Rentier ... crickets

    But I shouldn't suggest the money be taxed-back, 'cause that would be a bad thing?

  4. #184
    thruthefence's Avatar
    thruthefence is offline Titanium
    Join Date
    Jul 2008
    Location
    People's Democratic Republic of Louisiana
    Posts
    2,557

    Default

    Oh, Ok!

    In the words of Emily Litella, "Never mind!!"

    But then again, WTF is this?

    Originally Posted by <jbc>
    "You've read it wrong. 75% tax on the wealthiest until revenues are met.

    People would still be able to amass significant fortunes, up to a limit.

    Edit: Wasn't the Cultural Revolution a Good Thing?"

  5. #185
    lazlo's Avatar
    lazlo is offline Diamond
    Join Date
    May 2005
    Location
    Austin, TX
    Posts
    4,405

    Default

    Quote Originally Posted by thruthefence View Post
    Sorry, this is a example of nationalization of private enterprise, not a "Wealth Tax" in the context of these postings.
    Not getting into jbc's quagmire, but we nationalized about $3.5 Trillion of the investment bank's debt in 2008.

    "Bailout" was a polite euphemism so as not to scare the peasants.

  6. #186
    <jbc>'s Avatar
    <jbc> is offline Titanium
    Join Date
    Jun 2011
    Location
    Oberaargau Switzerland
    Posts
    2,281

    Default

    Quote Originally Posted by thruthefence View Post
    Oh, Ok!

    In the words of Emily Litella, "Never mind!!"

    But then again, WTF is this?

    Originally Posted by <jbc>
    "You've read it wrong. 75% tax on the wealthiest until revenues are met.

    People would still be able to amass significant fortunes, up to a limit.

    Edit: Wasn't the Cultural Revolution a Good Thing?"

    Some things you just can't pussy foot around on.

  7. #187
    BadBeta is offline Stainless
    Join Date
    Feb 2006
    Location
    Northern Europe
    Posts
    1,248

    Default

    Quote Originally Posted by <jbc> View Post
    Some things you just can't pussy foot around on.
    Fair enough: 75% wealth tax is so far out that I have to believe your either just messing about here, or have substituted reality for your own version. If you indeed do work for a bank I'm thinking we might be looking at the very foundation for the financial crises...

  8. #188
    PeteM is offline Diamond
    Join Date
    Jan 2002
    Location
    West Coast, USA
    Posts
    5,184

    Default

    Quote Originally Posted by thruthefence View Post
    . . . This has damn near gotten PeteM signed up for the tea party! . . .
    I can think of a scenario that would be wildly entertaining . . . put Switzerland's <jbc> and the U.S.'s Grover Norquist in a room and not let them come out until they've agreed on a taxation plan for the ages.
    lazlo likes this.

  9. #189
    don hartwich's Avatar
    don hartwich is offline Aluminum
    Join Date
    Feb 2007
    Location
    Florida USA
    Posts
    123

    Angry Global manufacturing

    When we allowed the gov, & "Justus" legal system, DO YOU SWEAR TO TELL THE TRUTH AND NOTHING BUT THE TRUTH that has had such a profound impact on our entire picture it’s enough to make you puke. The Best liars win in court, The Banks get bailed out I don't know why and it’s only taken 50 yrs. to, (ALL FALL DOWN!)= The Blink of an eye actually. Recovery time, not in this century. Then just add in the conspiracy that we shot our own pentagon with a fn missile so we could yell National security breach, let’s go to war boys! That's income creating jobs. As Bush sat and read children’s stories for 20 minutes. Who do we kill next? All the illegals attempting entry to N.A.? For Mass. Healthcare. Shit if all I had to do was move to Mass. To get a 250k back surgeries then fly home. & all this is only skin deep! The first airline to VAPORIZE IN AVIATION HISTORY! Watch the banned video, (PENTALIES) WAKE UP AMERICA, its OUR OWN FAULT! WE KEEP BLAMING EVERYONE THAT HAD A SMALL SLICE OF THE PIE WHEN IT’S OUR OWN FAULT! “MADOFFS” simply a patsy of our own choice when the Gov. is denting in your liver every day a little at a time so after fifty years you wake and here we are! (Problem,) THERE IS NO FIX!!!GLOBAL MANUFACTURING WAS NOT, IS NOT THE PROBLEM, Just a small piece of a recipe for disaster.LOL the Barter system needs to come alive Shit if we were to build factories to stock Wallmarts shelvs. Every item Made in usa or Banned it would be a better fix than awarding the Chinese three major Bridge contracts what an ass if you vote for him again you are a traitor-Fact Flag burning POS.....
    Last edited by metlmunchr; 01-24-2012 at 04:02 PM. Reason: Either rewrite this in some readable form of English or it will be deleted

  10. #190
    Join Date
    May 2010
    Location
    Kolding Denmark
    Posts
    10,965

    Default

    Quote Originally Posted by <jbc> View Post
    Please note that I never made that claim. If you've somehow infered that, it was not my intention.

    But I shouldn't suggest the money be taxed-back, 'cause that would be a bad thing?
    Maybe Switzerland could give lessons on how to conduct open banking?

  11. #191
    Join Date
    May 2010
    Location
    Kolding Denmark
    Posts
    10,965

    Default

    Quote Originally Posted by PeteM View Post
    I can think of a scenario that would be wildly entertaining . . . put Switzerland's <jbc> and the U.S.'s Grover Norquist in a room and not let them come out until they've agreed on a taxation plan for the ages.
    As long as we don't have to hold our breath waiting for an outcome

  12. #192
    metlmunchr is offline Diamond
    Join Date
    Jul 2004
    Location
    Asheville NC USA
    Posts
    8,361

    Default

    Just a wild guess here, but I suspect jbc might have seen a whole lot more of what really goes on, from the inside, than any of the rest of us are likely to hear about or even imagine.

    Further guess is that he's proposing to jam it in the ass of the uber-rich in the same way they've been jamming it in ours for the last 30 trickle-down years, in the spirit of "what's good for the goose is good for the gander".

  13. #193
    lazlo's Avatar
    lazlo is offline Diamond
    Join Date
    May 2005
    Location
    Austin, TX
    Posts
    4,405

    Default

    Quote Originally Posted by PeteM View Post
    the U.S.'s Grover Norquist in a room and not let them come out until they've agreed on a taxation plan for the ages.
    Most Americans don't know who Grover Norquist is, let alone our overseas brethren

    He's also known as Monty Burns. You know it's bad when Boehner complains about him pulling their strings

    John Welden likes this.

  14. #194
    Ries's Avatar
    Ries is offline Diamond
    Join Date
    Mar 2004
    Location
    Edison Washington USA
    Posts
    8,398

    Default

    after 3 or 4 pages of pissing contests and name calling, I am ready to go back to the topic-

    and from what I can tell, as usual, there is no one answer.

    In some cases, it definitely IS the wages.
    Some products are cost sensitive above all else, and they work cheaper elsewhere.

    But then, what about the products where they come HERE, to the USA, because our wages are lower?

    The Germans and the Swedes, in particular, are building factories in the USA because we work cheaper.

    So we have the exact same principle- manufacturing being attracted to lower wage countries- both taking away manufacturing jobs in the USA, and adding them as well.

    Ikea, BMW, and Mercedes, just to name 3, built factories in the american south so they could take advantage of the dramatically lower wages, regulations, and taxes in the USA, compared to their home countries.

    What goes around comes around.

    Then, we have cases where the wages are either so small a part of the cost as to be irrelevant, or, even if they are higher, other factors influence the situation more.
    For instance, in automobile manufacturing, every company builds the factories where the market is. The economies of scale of importing cars mean that if you are selling very large quantities, its always cheaper to build them where you sell them.

    So, once again, conventional wisdom is confounded-
    At the exact same time we have virtually every major manufacturer, worldwide, investing billions in factories in the USA.
    AND, we also have US companies building factories in China, Thailand, and South America.
    If it was only the wages, then every car in the world would be built in China.
    But its nowhere near that simple.
    America is a huge car market, so companies build auto factories here.
    China is a huge car market, so companies build auto factories there.

    Pretty soon, all Buicks will be built in China, because, frankly, they buy em, and we dont. Probably, Cadillac will follow. If you took every rapper in the USA, they could buy about as many Escalades as the rich guys in one Chinese city of 2 million people. And the Chinese have 160 cities with over 1 million in population, and well over 30 with populations over 3 million.
    So its silly to build a car in a country where you sell 10% of them and export them to a country where you sell 90% of them.

    In terms of other reasons jobs leave the USA, most surveys of actual business owners I have read refer to our crummy education system, NOT our taxes or regulations.
    In reality, our taxes are among the lowest in industrialized nations, and our system of regulations is way down there in terms of restricitions- we are usually ranked in the top 5 in terms of easiest countries with the least regulations to do business in.

  15. #195
    John Welden's Avatar
    John Welden is offline Diamond
    Join Date
    Mar 2009
    Location
    Kirkland, WA
    Posts
    6,026

    Default

    Quote Originally Posted by Ries View Post
    after 3 or 4 pages of pissing contests and name calling, I am ready to go back to the topic-

    .
    Hey, I'm not ready yet.

  16. #196
    AndyF is offline Stainless
    Join Date
    Nov 2003
    Location
    Phelps, NY, USA
    Posts
    1,493

    Default

    This might have already been posted, but if not, it is an interesting read on why Apple sources in China. http://www.nytimes.com/2012/01/22/bu...pagewanted=all . It mainly comes down to the supply chain. They can get everything they need to make a product and people who know what they are doing in Asia. To manufacture in the US would require importing almost all parts from Asia because the US doesn't make them anymore. So it isn't really cost or environmental regulations that are driving the decisions in many cases it is knowledge and networks of competent suppliers. We still have some of these regions of skilled people and competent suppliers and used to have a lot of it - Steel in the Ohio River Valley, Heavy manufacturing near the Great Lakes, precision manufacturing in the Connecticut River valley. Unfortunately, too often now our planners think in terms of discretes - trying to steal a plant to from their neighbor rather than building a region with multiple facilities with related skills.

  17. #197
    lazlo's Avatar
    lazlo is offline Diamond
    Join Date
    May 2005
    Location
    Austin, TX
    Posts
    4,405

    Default

    Quote Originally Posted by AndyF View Post
    This might have already been posted, but if not, it is an interesting read on why Apple sources in China. http://www.nytimes.com/2012/01/22/bu...pagewanted=all . It mainly comes down to the supply chain. They can get everything they need to make a product and people who know what they are doing in Asia. To manufacture in the US would require importing almost all parts from Asia because the US doesn't make them anymore.
    There are almost no Chinese components in the iPhone. All of the semiconductors are American (Apple, Texas Instruments, Intel, Cirrus Logic, Broadcom, TriQuint, ...) or Korean (Samsung, Infineon). The touch screen is made in Japan.

    All those materials are shipped to Mainland China, where peasant teenagers assemble them. Apple chose to build their products in China for the same reason everyone else does: cheap labor.

    http://www.isuppli.com/Teardowns/New...o-iSuppli.aspx

  18. #198
    AndyF is offline Stainless
    Join Date
    Nov 2003
    Location
    Phelps, NY, USA
    Posts
    1,493

    Default

    Quote Originally Posted by lazlo View Post
    There are almost no Chinese components in the iPhone. All of the semiconductors are American (Apple, Texas Instruments, Intel, Cirrus Logic, Broadcom, TriQuint, ...) or Korean (Samsung, Infineon). The touch screen is made in Japan.

    All those materials are shipped to Mainland China, where peasant teenagers assemble them. Apple chose to build their products in China for the same reason everyone else does: cheap labor.

    iPhone 4 Carries Bill of Materials of $187.51, According to iSuppli - Teardowns at iSuppli
    I'll show my ignorance here. Where are the foundries for the American chips? Are the chips still being made in the US, or just being designed here. If they are being made here, that's great.

    Regarding the Korean and Japanese components. I would expect that it is cheaper to ship to China than to the US. Also, from the article, key factors for sourcing decisions are the ability to scale up and respond quickly to changes in demand which is certainly a function of cheap and available labor, but also speaks to just the availability of labor.

  19. #199
    <jbc>'s Avatar
    <jbc> is offline Titanium
    Join Date
    Jun 2011
    Location
    Oberaargau Switzerland
    Posts
    2,281

    Default

    Quote Originally Posted by Gordon B. Clarke View Post
    Maybe Switzerland could give lessons on how to conduct open banking?
    Lesson 1: Banking is conducted on behalf of the Clients.
    Last edited by <jbc>; 01-24-2012 at 10:58 PM. Reason: Its like a whorehouse that way.

  20. #200
    <jbc>'s Avatar
    <jbc> is offline Titanium
    Join Date
    Jun 2011
    Location
    Oberaargau Switzerland
    Posts
    2,281

    Default

    Quote Originally Posted by PeteM View Post
    I can think of a scenario that would be wildly entertaining . . . put Switzerland's <jbc> and the U.S.'s Grover Norquist in a room and not let them come out until they've agreed on a taxation plan for the ages.
    While you should never lock a Fat Man in the room with a Canibal, Norquist and I do agree on the most important princibles of taxation.

    Revenues will be met.

    Wage Arbitrage. Is that the topic for discussion?

Page 10 of 12 FirstFirst ... 89101112 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •