Re: [OT] USA Elections
- Posted by jimcbrown (admin) Nov 05, 2012
- 2777 views
Jet planes which are generally made by very well paid workers. Win, win! Yes, they definitely consume things. And other people produce them and get paid for them.
So the money .. stays at the top?
Sorry, I'm not following you here.
Some of the money goes to the upper middle class workers who design and build the jet. I'd expect though that after labor and raw materials, etc, the profit ends up in the pockets of the company itself, which gets spent on other things (e.g. more jet planes, or giant fish tanks).
Tax breaks for high earners does not translate to more money for the poor.
Except that the main credit ratings agencies were talking about downgrading our credit rating due to the excessive amount of debt and the apparent policy of more of the same. Without that threat, I'm sure the ceiling would have been increased with just the normal amount of partisan approved posturing with which it has always been raised in the past.
Moody's was the one who did downgrade the debt - not because the US was unable to pay it but because the US was suffering a political crisis (at least, thats what they said).
Yes, the political crisis was that we were spending way more than we were taking in
No, the political crisis was that the US was, in spite of being able to pay its debt, at risk of choosing to default on that debt for political reasons.
