Quote:
Originally posted by Tony Shepps
So if I were Pres, I would submit a tax cut on day one regardless of what the actual conditions were. Can a president stop a recession. No, recessions are inevitable, and probably good for the economy anyway. What you say? Yup, I figure, the destructive nature of the recession generates new economic activity by shaking things up. The cruddy business plans fail; the expanding industries catch their breath; everyone takes a step back.
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I agree with most of what you wrote, Tony. However, I say the hell with any kind of tax cut. Quite frankly, our tax rates are rather low, compared to Canada, Scandanavia, etc. And what are we now starting to see in these countries? Canada's social insurance system is worse off than our own Social Security system. Sweden's socialist-like system is starting to show cracks as well.
Recessions ARE a good thing. Unfortunately, you mention the word, and stock brokers are ready to dive off the World Trade Center. However, the very definition of recession is "slow or no growth." (Someone correct me if I'm wrong on this.) No growth would imply status quo (at least to me) while slow growth implies that the growth is still there (obviously), just not as fast as, say 1998.
A recession would actually help retail. A lot of part-time workers in their late teens/early 20s have this "the world owes me" mentality that has actually hurt the retail/service sector. Why work for $5.15, when you can get $5.75? Why work for $5.75 when they'll offer you $6.50? Now, with slower sales, the hours won't be as plentiful. So, you want to give the bulk of your hours to the better associates. The weak will be cut off, left to drift or to get their game together. Thank God! I am tired of dealing with these little turds, and I'm tired of getting shitty service.
On the other hand, how does Delaware, with its no sales tax and lax business laws, continue to thrive?