Rep. Grayson Talks Financial Reform With TYT
Wednesday, April 28th, 2010 at
6:02 am
grayson.house.gov
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It is not the Free Market that is failing, it is government that is failing the country.
Printing money = destroying currency. Borrowing money = destroying the future. Taxing Income = destroying productivity. Waging wars = destroying peace and progress.
Government is the source of ultimate evil and Free Market is the cure.
Cenk: Dems are weak right!
Grayson: Bla Bla Republicans are assholes
Cenk: Fire Tim Geithner!
Grayson: Bla Bla No, don’t fire him!
WEAK SAUCE GRAYSON
LOL Nah, it’s politics, he’s just a congressman, I get it.
Grayson/Cenk 2012
@romanmir01
I agree with most of it; however, I wouldn’t attribute taxing income to “destroying production.” Nor would I make such a black/white statement as
“government evil – free market is cure.”
Taxation of income decreases competition. This is America, people don’t stop buying, they just stop buying riskily and in variety. As long as people buy, there will always be jobs and money for most. However, the number of poor will increase, it will never go close to half.
@christmasdnc
As to the blanket free market statement, that’s just obvious. You need balance, nothing in life was ever solved from one action and it never will be.
Thank you Greyson and Cenk – that was great.
Short Goldman, Bank of America, Rothschilds – beat them at their own game.
@christmasdnc I reinvest the money I make in my business to do more business. Borrowing money is hard and expensive, I rather use my money that I earn to invest again, but the government wants that money Now, before I spend it on Myself, it wants it so that I cannot spend it on my Work.
That means to me falling production capacity.
@LordNapalm Except when he dodges questions that don’t favour the democrats…
I know he’ll catch crap if he says anything about corrupt dems, but it’s still annoying to listen to him dodge.
@romanmir01
The govt does not print money – the FED does.
They consist of large banks which according to Ron Paul , the govt has no control over.
The more money we owe the more money these international banks make.
The more we spend on wars, bailouts and taxes the more money the banks make.
@PostBush Of-course Fed prints money. They produce nothing but zeros at the end of a one. They print cash. They are a quasi government quasi private institution with no oversight and they set up the interest rates, do under-the-table bailouts, set economic policy and they do not want your government or you to know the details of their dealing.
Banks make money by taking free money given to them by Fed and buying long term T-Bills. Makes no sense and is corrupt.
@romanmir01
Blame the banks not the govt. If you want to stop the drug wars concentrate on the Drug Lord not your small time drug dealers.
The Fed is run by banks that have 50% of world currency. They can always find another willing politician. The banks need to be removed from our system.
@PostBush Banks to be removed from system? So you are saying that if I want to open a private bank and allow individual/businesses to store their cash and take loans this should be illegal? Yeah, you make sense.
@romanmir01
No, that’s a failing luxury asset capacity. Obviously ALL categories will suffer, production included; however, it is no where near a specific or direct cause.
Also, if you didn’t get my response to free market, I’ll repeat it for you.
As to the blanket free market statement, that’s just obvious. You need balance, nothing in life was ever solved from one action and it never will be
@PostBush If it is true what you are saying and there is always a politician willing to take bribes, then:
1. Make taking bribes by government officials illegal to the point of capital punishment.
2. Make government an unattractive place for the corrupt, do not let the government control economy.
3. Make the government FOLLOW the Constitution.
then there will be a major change, no more government created inflation, no more bailouts, no more unfunded government projects, no more income tax.
I know that Cenk likes to believe that the best economy for the middle class in the USA was during the 50s-70s because the income tax was so huge.
He completely mixes cause and effect.
Income taxes were so huge as result from a war imposed increase (unconstitutional, obviously).
But the reason why economy was ‘good’, was because the US was not damaged by war, Pearl Harbor notwithstanding. US benefited from war, US corporations benefited more than anyone else.
US government/corporations were living off the benefits of the WWII for decades, plus there was USSR to be concerned about, and that brought the government and private corporations giga-tons of money, there was a gigantic industrial war machine chugging away.
USSR fell apart, the borders opened for foreign cheap labor. Oopsy daisy, what do you know. Bombs are not really the best bought products! People want other stuff. USA created more wars just to try and continue with this nonsense.
As the standard of living started to slip, the richer people started getting into the government to control what they were paying into the tax pool, obviously income taxes went down.
However from cause – effect: big income tax -> better economy.
Better economy was a consequence of USA profiting from war and from post-war era, just the way it happened, lucky for US.
Income taxes in themselves are the wrong taxes, they tax work, they tax productivity and remove incentives for work.
Income tax law is complex, government hides the way the taxes are collected and it almost is certain that there are errors in everyone’s return. Returns make it possible to collect private information on people and to make anyone into a criminal – easily. Do you know if your return is 100% correct? You have to sign it to say that under law.
Income tax also has all these deductibles for debt. So the incentives are set to work less and to take more debt, for example mortgage interest.
it became profitable to buy insurance policies with no deductible (no out of pocket expenses) everybody uses insurance not for catastrophic problems, but for general checkups, minor problems that really could be paid out of pocket. Insurance prices went up. In 50s-70s it was possible to have a plan with first $500 deductible that would cover you up to 50K and it cost $25 a year! And prices were going down, not up. Of-course the government stepped in (Nixon) and the thing went to hell.
@PostBush If it is true what you are saying and there is always a politician willing to take bribes, then:
1. Make taking bribes by government officials illegal to the point of capital punishment.
2. Make government an unattractive place for the corrupt, do not let the government control economy.
3. Make the government FOLLOW the Constitution.
Ron Paul passed a law to Audit the Fed Hurray! Dodd makes a new law to give the Fed full power. Govt laws are flakey when the banks don’t like them.
Sorry romanmir01 for the plagarism – I didn’t get the reply right.
@romanmir01
I meant remove the power of the large international banks from running our money and govt i.e remove the FED.
Rep. Grayson: “That’s the sad thing, that Republicans are so dead set against anything that resembles rational economic management.” Bingo.
Did the Fed really give Dick Cheney a billion dollars? I’ve never heard that.
@audadvnc @audadvnc yeah i was thinking that was pretty astounding. i’m not sure if he was saying they “could”, and showing a hypothetical situation, or whether it did actually happen. if it did i would have thought it would be massive scandal.
@PostBush
You cannot short a companies that are running the FCC, SEC. They know every short on the market. If you short one they will either open a new company and restart or combine with another making them more powerful.
Go Grayson!
wow, the young turks getting bit famous now