Comments about ‘Letter: Look to job creation instead of focusing on spending’

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Published: Sunday, June 3 2012 12:00 a.m. MDT

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Esquire
Springville, UT

Investments take money. That is a principle that Republicans don't seem to get.

Shaun
Sandy, UT

I have an idea. Instead of taxing the American public the government should create and coin money debt free interest free and spend it into the economy.

Never mind that idea will not work because we have to allow banks, that are private corporations, to create our money supply out of thin air so they can loan it to us at interest and then take those interest payments and buy treasury bonds where we will have to pay the banks through taxes.

The Real Maverick
Orem, UT

"There has been a loss in revenue to the federal government because taxpayers have become benefit collectors."

Who other than Fox and AM Radio has said this? What credible economist has ever said this?

Lets look at facts rather than ridiculous opinions.

Loss in revenue occurred when Bush in his first year as President cut taxes.
He then started 2 wars. Trillions of debt were amassed.
Medicare part D was created by Bush, creating even more debt.
It all came to a head in 2008, when the financial market crashed on itself (not because of poor people wanting homes but because of wall street and banking execs making ridiculous gambles and only wanting to fatten their wallets). This created a gigantic loss of revenue and even more debt.

That's what happened.

Now here's a question.... If the private sector doesn't feel like hiring for a few years. What do you expect those unemployed/underemployed to do? If they cannot get money from the private sector, where do they get the money to sustain life? Charities? Public spending and debt will increase in bad times. That's why it's so important to save during good times.

David King
Layton, UT

The problem with this thinking is that our deficit outlook doesn't stay the same but gets worse over time, due to changing demographics and increased demand on Social Security and Medicare. We've perfected the art of kicking the can down the road, and the day of reckoning is coming. I suggest for those interested a documentary by David Walker, former Comptroller General of the U.S. It is called I.O.U.S.A and a 20-min version can be viewed online for free. If after watching, you still believe we can solve our debt crisis merely by adding revenue, then this nation will get exactly what it deserves.

ugottabkidn
Sandy, UT

Ben is trying to play both sides with this letter but when working class Americans don't spend and the wealthy are stashing their profits in Swiss bank accounts then the result is no recovery. It is not the fault of unemployed Americans. Invest in America, invest in infastructure, invest in the future. We need to be making things, not pillaging our natural resources. When the middle class prospers everyone prospers, the 1% and the poor.

Hank Pym
SLC, UT

re: ugottabkidn

Agreed somewhat. Laurence Fink (CEO of BlackRock) said on Charlie Rose recently. We need to start working now on the infastructre for Natural Gas.

I can't think of a better way to invest America and lessen our dependence on Foreign Oil.

Gildas
LOGAN, UT

Creating jobs instead of cutting spending? Congress is doing neither at the moment, certainly not cutting spending. Spending has gone up instead with less revenue to justify it.

What would help? Government get out of the way of the economy; don't bail out banks or big corporations for example. Instead, make this nation the most business friendly in the world which it isn't. If that doesn't bring back employment to the USA then impose import tariffs on American corporations who outsource to Asia. Stop spending so much: eliminate a large number of bureaucracies; bring troops home and stop making war on so many nations. Stop nation building and stop providing Germany's and Japan's defense budgets. Stop installing American troops in most nations in the world; bring 'em home.

Enforce immigration rules without amnesty to current offenders, and stop giving taxpayers' money to provide welfare services to those who are here illegally. Punish the many rogue employers who do not e-verify their employees. That in itself will create many jobs for American legal citizens and residents. Eliminate the unfunded part of Medicare and restore SS contributions to previous level (created under the Reagan administration).

wrz
Salt Lake City, UT

"There has been a loss in revenue to the federal government because taxpayers have become benefit collectors."

When the government loses revenue the sensible thing for the government to do is to slow down or stop spending.

"That is why the focus on private-sector job creation should be the most important priority in the election."

The standard way for the government to concentrate on job creation is to cut taxes so that businesses can invest and tax payers can spend more. Obama is doing/wants to do just the opposite.

"We do much more to help the deficit if we turn benefit collectors into taxpayers than we will with just a simple focus on spending."

And how is that done? The answer is... create jobs by cutting taxes.

Brother Chuck Schroeder
A Tropical Paradise USA, FL

A word to the wise. In the closing weeks of the Romney campaign, the support surged with the endorsements of Gov. Sarah Palin, Sen. Rick Santorum, Congressman Ron Paul, and Sean Hannity, in addition to the support of Tea Party Express, Glenn Beck, Mark Levin, Rand Paul, and many others will not mean squat. After 2008, America is fed-up. All the GOP care about is more big guns for the hunters, subsidies for the Koch Brother's and their "Rich and Famous" friends. That's "welfare for the rich" government, subsidies to big business, pork-barrel Pentagon contracts to weapons makers, huge tax breaks for wealthy individuals, and most recently, colossal contracts for reconstruction to politically connected companies like Halliburton. Bureaucrats and politicians in Washington DC reminds me of "Elite Showdogs" that is an invitation-only e-mail list of long-time breeders, K Street and Wall Street exhibitors and judges that are judicial activist's. These politicians in Washington DC wear a GPS collar attachment to be found faster. K Street and Wall Street exhibitors can walk them around using a chain in circles until their dizzy enough to cave into them. No GOP job creation?.

Mr. Bean
Salt Lake City, UT

@The Real Maverick:

"Loss in revenue occurred when Bush in his first year as President cut taxes."

Wrong. The tax cut (as with other presidents) created jobs and increasing government revenue.

"He then started 2 wars."

The wars approved by the US Congress... which included Democrats such as John Jerry and Hillary Clinton. Go figure.

"Trillions of debt were amassed."

That's what happens when you are attacked by an enemy.

"It all came to a head in 2008, when the financial market crashed on itself (not because of poor people wanting homes but because of wall street and banking execs making ridiculous gambles and only wanting to fatten their wallets)."

Wrong. The housing market collapsed from lending money to people for houses who could not repay the loan. And why did banks do that? They figured, on mortgage default, they could simply resell the property at a profit... since the price of houses were ever increasing.

"If the private sector doesn't feel like hiring for a few years. What do you expect those unemployed/underemployed to do?"

Plan ahead like any prudent person should. Keep two years supply of food and money on hand for just such emergencies.

The Real Maverick
Orem, UT

"Instead, make this nation the most business friendly in the world which it isn't."

and

"Punish the many rogue employers who do not e-verify their employees. That in itself will create many jobs for American legal citizens and residents."

These two sentences in your post contradict each other. We cannot create the most "business friendly" nation in the world without a cheap labor source. You attack that source by booting out the cheap labor and by attacking businesses who do not e-verify their employees.

Many industries rely on that cheap labor source. Eliminating it and attacking businesses WILL NEVER help create a business friendly environment.

Miss Piggie
Salt Lake City, UT

@The Real Maverick:

"We cannot create the most 'business friendly' nation in the world without a cheap labor source. You attack that source by booting out the cheap labor and by attacking businesses who do not e-verify their employees."

That might be true... but, please realize that America has 15 million unemployed workers sitting on their butts drawing unemployment checks. These guys should be the ones working, not foreigners who sneaked into our country.

"Many industries rely on that cheap labor source."

Eliminate the minimum wage, kill unions, and limit unemployment benefits and you'll have your cheap labor source... right here in good ol' America. If we must compete in the world with China, India, Japan, et.al., we need to compete with their labor force. The Donald had it right when he said, 'China is eating our lunch.'

The Real Maverick
Orem, UT

"please realize that America has 15 million unemployed workers sitting on their butts drawing unemployment checks."

False.

Nice try though.

"Eliminate the minimum wage, kill unions, and limit unemployment benefits and you'll have your cheap labor source..."

Cheap labor source or slave labor? Killing min wage, the already very limited power of the unions, and limiting unemployment benefits (when many Americans are already suffering from lack of benefits) would be disastrous.

We shouldn't compete with China or India or the rest of the 3rd world for the cheapest labor, lowest wages, and fewest benefits. I don't know of any respectable economist that believes that they way to bringing America up is to take most of our labor force down.

Lets not compete for lowest and worst working conditions, shall we? Maintain our standards, cut the military spending by 1/3, stop shipping foreign aid everywhere, cut the tax loopholes, invest heavily in our own power, infrastructure, and education, cut the red tape and get a single payer health care system, raise taxes on the rich, only give tax cuts and subsidies to companies who create jobs domestically.

procuradorfiscal
Tooele, UT

Re: " What credible economist has ever said this?"

Better question -- What credible economist has ever existed?

Economics is nothing more than secular religion masquerading as behavioral "science." Its methods are so sloppy as to permit simultaneous support for diametrically opposed theories. It practitioners are nothing more than high priests of one or another philosophical discipline. Its "experimental" paradigm nothing more than unsupported "logic" disciplines.

Economics owes more to Socrates and Sartre than to actual science.

Advocacy of a particular economic theory lends, not credence, but merely boredom to any intelligent discussion.

wrz
Salt Lake City, UT

@The Real Maverick:

"False. Nice try though."

Would you believe 13.5 million? Though, it really doesn't matter. The point is, they're sitting home on their butts drawing unemployment checks.

"Killing min wage, the already very limited power of the unions, and limiting unemployment benefits (when many Americans are already suffering from lack of benefits) would be disastrous."

What's disastrous is the 15, er, 13.5 million unemployed sucking up money from the federal government... money the federal government doesn't have.

"We shouldn't compete with China or India or the rest of the 3rd world for the cheapest labor, lowest wages, and fewest benefits."

Too late. We are already competing... and they are eating our lunch. Go to Wal-Mart, pick up any piece of merchandise and see where it's manufactured... china. Call your phone company for help with services and see who you get... India.

"I don't know of any respectable economist that believes that the way to bringing America up is to take most of our labor force down."

Wake up!! We are in a global economy. Which means we must compete with 3rd world labor.

atl134
Salt Lake City, UT

@Mr Bean
"Wrong. The tax cut (as with other presidents) created jobs and increasing government revenue.
"

Wrong, look at any CBO analysis ever. You live in a fantasy world where tax cuts increase revenue. I guess in your world we should reduce tax rates to 0% and that would generate enough money that Congress can then give everyone a pony. It's simple logic; if it's too good to be true, it isn't true.

mark
Salt Lake City, UT

"Eliminate the minimum wage, kill unions, and limit unemployment benefits and you'll have your cheap labor source... right here in good ol' America. If we must compete in the world with China, India, Japan, et.al., we need to compete with their labor force."

Thinking in this country has become almost surreal. Here is someone that actually wants the American worker to be a cheap labor source, competing with communist China workers. Insane.

Piggie, what is it you do for a living? What is your job?

It absolutely baffles me. The conservative thinking is not how do we improve conditions for labor in other countries, but how do we destroy protections for labor in this country.

I never thought I would see the great American Worker being pulled down by fellow Americans. I never thought I would see the great American Worker considered just a cheap labor source for big business.

Truthseeker
SLO, CA

Re:Mr. Bean

Facts first
Federal revenue largely comes from income and payroll taxes. Corporate tax contributes less than 10% of federal revenue.

Income-tax receipts are down sharply since the Bush tax cuts. In fiscal 2000, the year before the cuts began to take effect, receipts from the federal income tax on individuals amounted to 10.2 percent of GDP. That figure was down to 6.2 percent of GDP last year.
(Factcheck)

The Congressional Budget Office, the Treasury Department, the Joint Committee on Taxation, the White House's Council of Economic Advisers and a former Bush administration economist all say that tax cuts lead to revenues that are lower than they otherwise would have been -- even if they spur some economic growth. [FactCheck, 6/11/07]

To sum it up: Conservative and Progressive economists generally agree tax cuts reduce longterm revenue, lower than they would've been without the tax cuts. (Revenue appears to increase from year to year as a result of inflation and population growth)

Finally, longterm unemployed are mostly older workers who are exhausting retirement accounts, 401k's, and losing their homes.

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