How Capital Crushed Labor - Patrick Buchanan

10 posts

Team Zissou

Social democrats insist we just need to tax more, thinking back to some golden age when millionaires gladly paid 70% marginal rates and eschewed all shelters and deductions. Also, immigrants never got old and sick.

President Camacho
Well, he said "among the highest"... Buchanan knows that Europe has higher wages and more stringent regulations than America. He was comparing the US to the places where US corporations have moved their labor-intensive operations to-- China, India, Indonesia, Southeast Asia, Central/South America etc where of course his statement holds true.
Theo

People just earn too much in the West. The impending impoverishment of the middle class is the next thing on the agenda for the Ruling Class.

Cornelio

Buchanan says taxation of imported goods was good. What do you have to say about that.

Broseph
It really depends who makes what and what is being taxed and by how much. If only the Chinese produce unobtainium and only Americans can use it to make a product that the whole world is willing to pay top dollar for, would it make sense to to have high tariffs on unobtanium from china?
Cornelio

F.e.: Is Taxation of korean cars good?

Broseph
I don't know enough about the specifics to answer this myself.
Cornelio

Aren't tariffs and taxation a hindrance of free trade and therefore bad? Are there cases where they are accepted by Misean/Libertarian theorists?

Broseph
If you want 100% raw economic efficiency, then tariffs are bad. The trouble we're seeing here is in both trade policy and monetary policy. The monetary policy makes people less productive and less in demand for labor. The sudden shifts in trade policy causes drastic and sudden changes in the economic order, leading to unemployment for some time.

If it's "good" or not is a question of what policy aims to achieve. I believe the policy of getting the developing world in Asia to produce everything for America at the cost of losing the same jobs in America has worked out quite well. Many people have lost these types of jobs in America. But now, the Chinese are accepting printable dollars and building things for Americans. Regardless, the game is currently rigged to benefit those at the top. This is made obvious by central banking activities.
President Camacho
YouTube: https://www.youtube.com/embed/hzyRjX_pX5c

My father has decried the [union] workers' toking up on the job beginning in the '70s as the primary factor responsible for the decline in American manufacturing quality.

I think it's a tremendous and interesting situation...

EDIT: Fox's hamfisted tabloid attacks on "librul bailouts" is very entertaining GOP agitprop.