As the 2016 Elections Approach, What is America’s Economic Outlook?
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October 10, 2015 10 a.m. Matthew Slaughter The Paul Danos Dean of the Tuck School; The Earl C. Daum 1924 Professor of International Business Hood Museum of Art Auditorium As the 2016 Elections Approach, What is America’s Economic Outlook? In the uncertain wake of the world financial crisis, there is legitimate concern about whether America can maintain its economic might and by extension its position in the world order. Recovery remains slow, with stagnant wages and rising healthcare costs exerting increased pressure on much of the country. In light of these challenges, what are the economic prospects for the United States in the 21st century? This talk will examine this question as well as America’s current economic conditions, with particular focus on the how the policy choices facing the United States today will shape future economic performance and leadership.
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Rome is burning. We need a singularity.
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The United States is in a state of serious decline. The reason is that our society has become dominated by rentier interests. This has been very well described by Joseph Stiglitz, although it seems many other economists fail to see the signals because of their adherence to neo-classical economic theory. In the real world, law and tax policy strongly favor rent-seeking behavior over the production of goods or delivery of services. Take what are referred to as "capital gains" which are taxed at a rate lower than wages derived from production. In the real world there is no such thing as a capital gain, if by capital we define this category of asset as a "capital good" (e.g., buildings, machinery, etc.). At minimum gains on the sale of financial assets, on land and natural resources should be treated the same as other sources of income. If we want to use the tax system to encourage the construction of real assets, then this should be done via a tax credit. As Henry George observed long ago, the appropriate rate of taxation on rents from land and land-like assets (e.g., the broadcast spectrum or take-off and landing slots at airports) is 100% or nearly 100%. Rents are unearned to individuals and private entities. Rents are societally-created and should be the primary source of public revenue.
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I can answer that question in a simplistic way, SHITTY!
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666+666+666+6+6+6= 2016 we have no outlook for the future, are you getting this????
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