News Chalmers Johnson, how to sink America

[wolram]

http://www.tomdispatch.com/post/174884/chalmers_johnson_how_to_sink_america

Your thoughts.

 

[fourier jr]

Similar to Bill Blum, Johnson is a former loyal American cold warrior who suddenly realized how crazy & indoctrinated he was. He's pretty much correct about everything in that link.

 

[Evo]

http://www.tomdispatch.com/post/174884/chalmers_johnson_how_to_sink_america

Your thoughts.

You need to explain what your thoughts are and what you want to discuss.

 

[russ_watters]

Absolute drivel.

Just one example: the 'tax cuts for the rich' thing democrats like to throw around. Here's the actual fact: the tax rate cuts are pretty even across the board, but the increase in basic deductions means that the disproportionate share of the cuts goes to lower income people: http://www.time.com/time/magazine/article/0,9171,1101010604-128131,00.html

 

[falc39]

I just read his newer edition of Blowback, loved it!

 

[fourier jr]

I just read his newer edition of Blowback, loved it!

I don't know which is his "piece de resistance," Blowback or the Sorrows of Empire. They both seem to be fairly popular.

 

[fourier jr]

Absolute drivel.

He used to be such a good employee of the American Gestapo, and now he's a well-known critic of The Empire. What do you think went wrong?

 

[Ivan Seeking]

Absolute drivel.

Just one example: the 'tax cuts for the rich' thing democrats like to throw around. Here's the actual fact: the tax rate cuts are pretty even across the board, but the increase in basic deductions means that the disproportionate share of the cuts goes to lower income people: http://www.time.com/time/magazine/article/0,9171,1101010604-128131,00.html

Your link does not establish the truth of your claim.

According to Warren Buffet:

Warren: ...well, the taxation system has tilted toward the rich and away from the middle class in the last ten years is-- is dramatic, and I don't think it's appreciated. And I think it should be addressed.

Tom: You've talked about in your office, for example, you pay a much lower tax rate with all of your wealth than, say, a receptionist does.

Warren: That's exactly right, Tom. And I-- I think the only way to do it is with specifics, and-- and - and in our office, 15 people cooperated in a survey out of 18. I didn't make anybody do it. And my total taxes paid-- payroll taxes plus income tax-- and the payroll tax is an income tax. It's based on income.

http://www.cnbc.com/id/21553857/

Anyone who has completed anything more complicated than a 1040 EZ knows that one has to consider the effective tax rate after deductions. Of course Buffet is probably just another looney liberal.

 

[edward]

Perhaps the topic of the OP should have been America is sinking itself.

I flipped on PBS yesterday morning at 5:00 AM. That is the local time that the BBC World News at Noon comes on. Their headline news was: Wall St firms in FBI sub-prime probe

I though that this would be on the other networks CNN, Fox ext.,but nope nothing, not a word. There was nothing even mentioned about the investigations on American television even though the Brits thought it was big news considering the sub prime issue has global effects.

14 Wall street firms involved in the sub prime mess are under investigation by the FBI and it isn't news worthy??

WALL Street banks are among the 14 corporations under investigation by the Federal Bureau of Investigation for possible crimes relating to the sub-prime mortgage crisis.

The FBI will not identify the companies being investigated, but said the probe was industry-wide and included investment banks, developers, sub-prime lenders and companies that securitized loans.

The sub-prime crisis has already cost some of the biggest banks in the US in excess of $US130 billion ($147 billion) in bad debt. Sub-prime loans were typically made to people with bad credit or low income who would typically not have qualified for traditional loans.

http://www.news.com.au/business/story/0,23636,23131367-462,00.html?from=mostpop

Ironically it was the sudden volatility in the foreign markets on the MLK holiday that spooked the fed into the 3/4 % interest rate drop at 8:15 Tuesday morning last week, and another 1/2% this week.

In the meantime Bush and the Congress became concerned enough to actually do something and almost immediately they came up with the rebate plan.

Last night I was watching McCain and Romney debate the best use of the funding to spur the economy. They both agreed that the money would be borrowed from China!

Now it appears that much of them money borrowed from China to spur our economy will be used to buy Chinese goods.

 

[mheslep]

In the meantime Bush and the Congress became concerned enough to actually do something and almost immediately they came up with the rebate plan.

Do you equate the rebate plan with 'doing' something effective?

 

[wolram]

You need to explain what your thoughts are and what you want to discuss.

The facts of the American economy, after all it will effect everyone world wide, the problem is there does not seem to be a consensus.
On top of all that we hear that America is all pally with China in one ear and that there is a major dispute going on about Taiwan, missile pointing no less, in the other ear.

 

[edward]

Do you equate the rebate plan with 'doing' something effective?

Effective for China? yes. Effective for the USA? not really, but it sure has gotten a lot of hype in the news media.

 

[Amp1]

Ask Warren Buffet to help fix the income tax problem. Restudy the best way to bring back to reailty the tax cuts for the wealthy, holding companies and megaconglomerates.
Give corporate minds more conscience.

 

[Reverie]

1.)
“There are three broad aspects to our debt crisis.”

America is not in a debt crisis. Public debt as a percentage of GDP indicates how heavily a country is indebted in comparison to its ability to pay as measured by its GDP. Here is a Wikipedia article with the computed ratios for many countries. The higher the ranking, the bigger the problem.
http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

2.)
“The United States has become the largest single salesman of arms and munitions to other nations on Earth.”

Itemized weapons sales to Iraq by country.
http://en.wikipedia.org/wiki/Arms_s...or_conventional_arms_sales_to_Iraq_by_country

3.)
“The defense budget for fiscal 2008 is the largest since World War II.”

America spends 1% of GDP on the Iraq and Afghanistan Wars. American expenditure during the Korean War was 13% of her GDP. During WWII it was almost 50% of her GDP.

4.)”Some 30-40% of the defense budget is "black," meaning that these sections contain hidden expenditures for classified projects. There is no possible way to know what they include or whether their total amounts are accurate.”

http://en.wikipedia.org/wiki/Military_budget_of_the_United_States

Wolram, how many dollars is that worth?

 

[mheslep]

1.)
“There are three broad aspects to our debt crisis.”

America is not in a debt crisis. Public debt as a percentage of GDP indicates how heavily a country is indebted in comparison to its ability to pay as measured by its GDP. Here is a Wikipedia article with the computed ratios for many countries. The higher the ranking, the bigger the problem.
http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

Chairman Greenspan publicly commented on the debt recently in a public conversation w/ the President. The President responded essentially as is posted above here and Greenspan stated yes that's correct as far as it goes, but he was worried about all of the future entitlement spending for which the government is already committed (e.g. prescription drug benefit, social security, ...) that very much will explode the debt as percentage of GDP.

2.)
“The United States has become the largest single salesman of arms and munitions to other nations on Earth.”

Itemized weapons sales to Iraq by country.
http://en.wikipedia.org/wiki/Arms_s...or_conventional_arms_sales_to_Iraq_by_country

Chalmers is talking about $ totals and most of that would likely be found in very expensive US military aircraft sales, for which the US completely dominates the world. If you therefore look to sales to S. Arabia, Pakistan, Isreal, etc which fly US F-16s, 15's the US must be at the top of the export lists. This is a policy holdover from cold war proxy fights and should be greatly reduced IMO.

3.)
“The defense budget for fiscal 2008 is the largest since World War II.”

America spends 1% of GDP on the Iraq and Afghanistan Wars. American expenditure during the Korean War was 13% of her GDP. During WWII it was almost 50% of her GDP.

Correct.

 

[russ_watters]

He used to be such a good employee of the American Gestapo, and now he's a well-known critic of The Empire. What do you think went wrong?

Dunno, maybe he suffered brain damage from smoking too much pot?

Or maybe he's smarter than that and just realized that liberals love drivel and he could make a living selling it.

 

[russ_watters]

Your link does not establish the truth of your claim.

? The link provides the exact rate adjustments and other changes in the tax law.

According to Warren Buffet:

Quote:
Warren: ...well, the taxation system has tilted toward the rich and away from the middle class in the last ten years is-- is dramatic, and I don't think it's appreciated. And I think it should be addressed.

Tom: You've talked about in your office, for example, you pay a much lower tax rate with all of your wealth than, say, a receptionist does.

Warren: That's exactly right, Tom. And I-- I think the only way to do it is with specifics, and-- and - and in our office, 15 people cooperated in a survey out of 18. I didn't make anybody do it. And my total taxes paid-- payroll taxes plus income tax-- and the payroll tax is an income tax. It's based on income.

http://www.cnbc.com/id/21553857/

Anyone who has completed anything more complicated than a 1040 EZ knows that one has to consider the effective tax rate after deductions. Of course Buffet is probably just another looney liberal.

Your post does not address my claim at all. Perhaps you should reread it... Or maybe I should simply my point for you:

The tax rates were reduced by roughly the same percentages across the board and deductions were increased by the same dollar value for everyone. The net effect is a greater percentage tax reduction for the poor.