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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: gpowell who wrote (17085)2/10/2004 3:15:59 PM
From: Lizzie TudorRead Replies (2) of 306849
 
I don't hear too much in the way of coherent facts from your posts either. You do what the government does- take figures such as GDP which are obviously wrong and make your case with that. Then you disregard other statistics which point in the wrong direction, such as the payroll figures.

Income taxes have been declining in real terms since this recession ended. Forget what Labor's share of national income is, just look at the cold hard facts of how much money is coming in since the 00 peak. We're down about 30% if I recall correctly (between 20-30%) and we are declining every month. But corporate profits are rising!!! The problem is corporations contribute very little to the tax rolls. Not that I am for higher taxes mind you but given where we are, in absolute terms it is tough to make a case that the federal budget is BETTER off with outsourcing.

Lets do this, wait until 05 and if trade policies are changed/stalled (as I suspect)- according to your theories the picture for the overall economy should decline. My position is the opposite. I think the high cost of labor in the 90s actually spurred growth through Capex expenditures which are necessary for a high priced US based workforce but completely unnecessary with dirt cheap 3rd world labor. The capex companies got rich in the 90s and then of course the workers were rich and everybody got rich. Not now, imho offshoring broke the system.
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