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2/9/2016 3:07:09 PM
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And guess what they picked to try and get out of debt? Austerity, right wing economics Take it from an australian, the correct response to the economy slowing down is stimulus. Stimulating the economy ramps up the cyclical consumption process of the free trade market. So um,.... What happened with capitalism and that sub prime mortgage crisis? Ay? Ay? Ay lil fella?
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[quote]Socialism doesn't work, ask Greece[/quote] Greece had a lot of other issues other than that
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We aren't Greece
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Edited by Soggy God2046: 2/9/2016 3:13:57 PMWe'll end up like them if we become socialist
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No. There is no comparison between the countries. Culture, resources, population, etc forever are vastly different. Not to mention the world economy is built on the dollar and the credit rating of the US. There is a vested interest by everyone to keep the US in good standing. Let me also point out that the US is already a socialist/capitalist mix & that no one is suggesting anything close to a move to pure socialism. The debate only exists in the balance between the two systems. Even Republicans support the majority of the socialistic practices that we already employ in this country. Quit buying into fear tactics.
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I look at it this way, we were doing great until he banks went fubar. If we go back to how it was, we should be fine. And I'm at least 90% sure that we weren't socialist back then
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You may also want to consider what period you believe America was at its strongest economically and then look at the tax rates of that period. In the 50's for example, tax rates were significantly higher than they are today, especially on high earners. But many people consider that a sort of golden age as well. Deregulation and low taxes help the very rich and corporations, but that doesn't translate to the majority of Americans.
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The banks went crazy as a result of the repeal of Glass-Steagall in 1999. That was a socialist type of legislation that was enacted in the 30's to separate different types of banks. Deregulating them, a capitalist action, lead to the disaster in 07/08.
