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Politics : PRESIDENT GEORGE W. BUSH
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To: Knighty Tin who wrote (499696)11/28/2003 12:19:34 PM
From: Lizzie Tudor  Read Replies (1) of 769667
 
the problem is that GDP is intended to represent a lot of things that it no longer represents... this GDP is merely an indication of corporate profits and that is all. But the other things that used to go along with profits like increase in tax revenues (due to workers paying taxes) isn't attached to this number. In fact you might even be able to negatively correlate tax revenues to corporate profits in the near future. So what good is GDP? It needs to be renamed "corporate profit indicator", and then a another metric needs to be devised for measuring goods and services whose value add is created in the US. This number would be much lower than 8%.
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