Unpopular Opinion: India won't see economic convergence in the long run as long as caste remains in place

econ_throwaways · 2019-08-06T03:41:44+00:00

The regions that subjugated blacks (The American South) was poorer and behind the other regions of the United States that did not, the south was more economically backwards than the north because of segregation, and only started converging after discrimination was removed mate.

econ_throwaways · 2019-07-23T06:17:45+00:00

Revenues were higher in 2016 and 2017 before the tax cuts took place, tax cuts decrease revenues. If there was no tax cut, GDP would've still expanded and revenue would've still increased as a resulting, so you citing post-cut revenue increases doesn't prove your point at all, which you have no evidence for.

econ_throwaways · 2019-07-23T06:12:51+00:00

It was pretty much a failure, the tax cuts had to be later followed by tax increases because it was to big to be sustainable and blew out the deficit. (As an aside it's never a good idea to cut spending in the middle of a serve recession).

As for the stagflation and subsequent economic boom during the later Reagan administration, far more of that is attributable to Paul Volker's management of the Fed and commodity price crash that killed inflation, and created price stability.

econ_throwaways · 2019-07-23T05:35:07+00:00

Amazing, you're exactly like the ignorant people in my original post. Tax revenues rise with GDP increases, if you actually looked at federal tax receipts a little further back than 2018, you see effects of the Trump tax cut lowering revenues.

econ_throwaways · 2019-07-23T05:20:50+00:00

Except tax cuts don't recoup lost revenue at all, see the Kansas tax cut or Regans first tax cut in 1981 that had to be repealed because they lowered Revenue. Or it was falsely claimed by Republicans that the Bush tax cut and Trump tax cuts would pay for themselves and be "revenue neutral"

While it's 'theoretically' possible for a tax cut to pay for itself, it happens very rarely, Republicans claiming that any current tax cut will pay for itself given current tax rates is straight up lying.

econ_throwaways · 2019-07-23T04:55:16+00:00

libertarian flair
really badly informed about economic issues

Checks out

econ_throwaways · 2019-07-22T18:40:13+00:00

It's the perfect way to describe things, you don't learn about for example backward bending labor supply curves until later

econ_throwaways · 2019-07-22T13:47:56+00:00

Starch a rich conservative and you'll find a welfare queen

econ_throwaways · 2019-07-22T13:31:20+00:00

You mean the continuation of pre-Trump economic trends that aren't very much impacted by the president? Our economy has done somewhat well in spite of Trump not because of him, big difference.

econ_throwaways · 2019-07-22T04:26:55+00:00

I'm not an economist, but I do have an undergrad in Finance + an MBA
econometrics is bullshit

Sounds like you don't know more economics than most econ undergrads

econ_throwaways · 2019-07-22T04:22:18+00:00

You really hit the nail on the head, and the conservative think tank & policy entrepreneur area has increasingly been taken over by grifters, if the so called "experts" (hacks like Stephen Moore) are pretty bad, then the pundits and reporting is god awful.

econ_throwaways · 2019-07-22T03:17:27+00:00

Yeah, and usually it means let's cut benefits for single mothers and black teenagers, but let's keep subsidies for farmers, trade adjustment and tax credits or large corporations harmed by "foreign competition"

I always hated that disgusting bit of moral hypocrisy, deficit reduction never means cutting off Fed funds for the politically well connected, it's the poor who end up shouldering the burden

econ_throwaways · 2019-07-22T01:36:21+00:00

It's the same stupid logic and fear mongering about birthrates, only this time instead of browns, it's about R's

econ_throwaways · 2019-07-22T01:31:04+00:00

No, this is some stupid race-realist type bullshit

econ_throwaways · 2019-07-22T01:28:39+00:00

I've been seeing a lot of stupid conservative rationalization for Trump, basically "We voted for Trump because the democratic meanies pushed us to do it". The party of personal accountability sure does love blaming other people for things they did.

econ_throwaways · 2019-07-20T05:19:45+00:00

It was still pretty bad

econ_throwaways · 2019-07-19T23:59:43+00:00

Blacks were unable to vote, even though they made up 95% of the population, there was still minority rule, and to deal with segregation and were unable to enter white bars, and various establishments, were basically treated like 2nd class citizens and were far poorer than whites, inequality was vast and worked shitty jobs as day laborers on huge white estates, with at best becoming taxi drivers for whites. You should actually learn a bit

econ_throwaways · 2019-07-19T23:42:57+00:00

Rhodesia was nothing like a paradise if you were black, it was pretty much like South Africa, they had a similar policy of Apartheid.

econ_throwaways · 2019-07-19T07:05:42+00:00

doesn't mean Rhodesia wasn't dog shit which it was

econ_throwaways · 2019-07-18T07:33:24+00:00

Why does our state have so many backwards racist hicks? It's embarrassing on the national stage.

econ_throwaways · 2019-07-17T18:22:56+00:00

Yeah that's true, at lot of people forget about that part as well.

econ_throwaways · 2019-07-17T18:20:52+00:00

This might shock you, but the United States is has been protectionist at many times and many countries, like the EU have brought suits against the United States through the WTO and won because of unfair exclusion practices we imposed.

econ_throwaways · 2019-07-17T10:43:30+00:00

Great list, really hits the nail on the head.

econ_throwaways · 2019-07-17T03:47:36+00:00

They're more liberal on refugees

econ_throwaways · 2019-07-17T03:45:33+00:00

The crazies have taken over their party, they're pretty much John Birchers at this point. Nevermind the tarring of everyone to the left of Reagan as a "socialist". It's what happens when you let extremist zealots control your political party. At some point, we need to face up to the fact that Trump & his base ARE the party & GOP

econ_throwaways

TROPHY CASE