Was Pitts right?
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From: Chris Bellomy on 19 Dec 2009 00:46 dsc-ky wrote, On 12/18/09 8:47 AM: > Hoarding is not really why there's a shortage of money in > circulation... is it? Hoarding may not be the best verb, but overconcentration of capital is a well-understood red flag for any market economy. Economies with more equitable distribution of capital are more robust, with more competition and fewer single points of failure. Progressive taxation is the best and most efficient brake against overconcentration, for a number of reasons I'm too tired to list. (Any day that ends up with my wife in the hospital is gonna be exhausting.) Americans, for all their puritanism about most other deadly sins, have no issue with greed. But greed is a sin for a reason. I'm not even going to say what my idea of that reason is -- I think it's enough to say that there's a good reason. There's a difference between building financial security for one's family and accumulating an obscene fortune, and until we can learn to encourage the former while discouraging the latter, we're going to have these problems.
From: Chris Bellomy on 19 Dec 2009 00:48 dsc-ky wrote, On 12/18/09 8:59 AM: > On Dec 18, 9:18 am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote: >> BAR wrote, On 12/18/09 7:06 AM: >> >> >> >> >> >>> In article <z_-dne1r6rSBtrbWnZ2dnUVZ_rpi4...(a)supernews.com>, >>> ten.wohsdoog(a)sirhc says... >>>> David Laville wrote, On 12/18/09 12:32 AM: >>>>> On Thu, 17 Dec 2009 23:52:30 -0600, Chris Bellomy <ten.wohsdoog(a)sirhc> >>>>> wrote: >>>>>> Sorry, but it's factual. Poorer people pay a far greater >>>>>> percentage of their income in those taxes and fees than >>>>>> do the wealthy. Period. >>>>> Do you even know what a progressive tax is? >>>> Careful. I have a history of embarrassing people on this >>>> topic. This is not the liberal you want to try that tactic >>>> with. >>> How much money do you earn Chris? If it is more that that which provides >>> you a basic subsistence then you are one of those you hate or envy. >>> Do you have a savings account? If yes, why are you hoarding money? >>> Do you have a retirement account? If yes, why are you hoarding money? >> I don't make nearly enough to be part of this discussion, >> and neither do you. >> >> If you really think this is about savings, you probably >> should mark the thread as read and move along without >> comment. >> >> cb- Hide quoted text - >> >> - Show quoted text - > > So if hoarded money isn't saved/invested/etc... then where is it? Let me put it this way. All the money that was lost in the real estate crash... that was "invested." Do it do anybody a damned bit of good?
From: Chris Bellomy on 19 Dec 2009 00:57 Moderate wrote, On 12/18/09 9:16 AM: > "Chris Bellomy" <ten.wohsdoog(a)sirhc> wrote in message > news:DICdnX6RsNoYjbbWnZ2dnUVZ_s5i4p2d(a)supernews.com... >> assimilate(a)borg.org wrote, On 12/17/09 10:09 PM: >>> On 17-Dec-2009, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote: >>> >>>> There has been considerable reporting about the stovepiping >>>> of intel through Cheney's office. I want to be precise about >>>> this, though: *Cheney's* office. >>>> But the links between Cheney and the doctored intel are >>>> documented and proved. >>> where? >> talkingpointsmemo.com did quite a bit of the investigative >> reporting, which probably explains why you never read it. >> Nevertheless, if you want to get down to the details, those >> are the archives to read. The reporting was quite thorough >> and specific. >> >> cb > > I read the reports of the four Congressional investigations. It was > documented that the intel was not doctored by the Bush Administration. If your goal is to remain ignorant, then you are doing a fine job. You need to read and *consider* the reporting that makes you uncomfortable. Are the reported facts corroborated? Do the pieces fit coherently? What are guesses and what are facts? I got in a conversation today with some conservative friends about that column about San Francisco municipal government that has been making the rounds around the wingnutosphere. The point I made was that SF wouldn't have those problems with corruption and misfeasance of duty if the conservatives there weren't off operating in their own alternate reality. There should be conservatives in place there who take old- fashioned conservative positions about accountability and efficiency, but instead there's nothing but birthers and teabaggers to be found anymore. The non-Mormon non-Southern parts of the country are increasingly repulsed by what's happening on the right, and it's leading to a lot of one- party rule in much of the country. That ain't good, I don't care who the party is. Corrupt on one side and insane on the other are not very good choices.
From: dsc-ky on 19 Dec 2009 08:46 On Dec 19, 12:46 am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote: > dsc-ky wrote, On 12/18/09 8:47 AM: > > > Hoarding is not really why there's a shortage of money in > > circulation... is it? > > Hoarding may not be the best verb, but overconcentration of > capital is a well-understood red flag for any market economy. > Economies with more equitable distribution of capital are > more robust, with more competition and fewer single points > of failure. Progressive taxation is the best and most > efficient brake against overconcentration, for a number > of reasons I'm too tired to list. (Any day that ends up > with my wife in the hospital is gonna be exhausting.) > > Americans, for all their puritanism about most other > deadly sins, have no issue with greed. But greed is a > sin for a reason. I'm not even going to say what my > idea of that reason is -- I think it's enough to say > that there's a good reason. There's a difference between > building financial security for one's family and > accumulating an obscene fortune, and until we can learn > to encourage the former while discouraging the latter, > we're going to have these problems. It seems to me that most of our problems are from people spending more than they have and taking big chances (houses, businesses, etc). Seems opposite of hoarding?
From: dsc-ky on 19 Dec 2009 08:49
On Dec 19, 12:48 am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote: > dsc-ky wrote, On 12/18/09 8:59 AM: > > > > > > > On Dec 18, 9:18 am, Chris Bellomy <ten.wohsdoog(a)sirhc> wrote: > >> BAR wrote, On 12/18/09 7:06 AM: > > >>> In article <z_-dne1r6rSBtrbWnZ2dnUVZ_rpi4...(a)supernews.com>, > >>> ten.wohsdoog(a)sirhc says... > >>>> David Laville wrote, On 12/18/09 12:32 AM: > >>>>> On Thu, 17 Dec 2009 23:52:30 -0600, Chris Bellomy <ten.wohsdoog(a)sirhc> > >>>>> wrote: > >>>>>> Sorry, but it's factual. Poorer people pay a far greater > >>>>>> percentage of their income in those taxes and fees than > >>>>>> do the wealthy. Period. > >>>>> Do you even know what a progressive tax is? > >>>> Careful. I have a history of embarrassing people on this > >>>> topic. This is not the liberal you want to try that tactic > >>>> with. > >>> How much money do you earn Chris? If it is more that that which provides > >>> you a basic subsistence then you are one of those you hate or envy. > >>> Do you have a savings account? If yes, why are you hoarding money? > >>> Do you have a retirement account? If yes, why are you hoarding money? > >> I don't make nearly enough to be part of this discussion, > >> and neither do you. > > >> If you really think this is about savings, you probably > >> should mark the thread as read and move along without > >> comment. > > >> cb- Hide quoted text - > > >> - Show quoted text - > > > So if hoarded money isn't saved/invested/etc... then where is it? > > Let me put it this way. All the money that was lost in the > real estate crash... that was "invested." > > Do it do anybody a damned bit of good? Just the people that built the houses and sold the materials, etc. But some of them got so over extended trying to cash in that it ended up biting them too. |