Sheriff Joe
DA
Today is particularly crazy, someone check the moon.
Essential Economics for Politicians
- Thread starter Bruddah IZ
- Start date
-
- Tags
- finance too
Bruddah IZ
DA
It was Tuesday. Close enough.
Bruddah IZ
DA
You mean to the debt?
Bruddah IZ
DA
The "Laffer Curve" Was Discovered by a Medieval Islamic Philosopher
Khaldun, a 14th-century scholar, believed that a just government should only, in accordance with Islamic law, impose low taxes.
https://fee.org/articles/the-laffer...dieval-islamic-philosopher/?utm_source=ribbon
The most prominent supporter of low taxes was Ibn Khaldun. Born in 14th-century Tunisia, Khaldun was a prominent scholar and one of the founders of economics and social sciences. Khaldun believed that a just government should only, in accordance with Islamic law, impose low taxes. This stimulates business activity and thus creates wealth, which makes it possible to collect more taxes.
However, rulers tend to increase the tax to benefit themselves. High taxes hurt commerce and trade. When tax rates are raised to pay for a bloated government, it will finally cause the tax base to shrink so much that the government cannot meet its obligations.
https://fee.org/articles/the-laffer...dieval-islamic-philosopher/?utm_source=ribbon
So what you're saying is that Islam may actually be good for something.
Who knew?
Bruddah IZ
DA
Questioning the Utility of High Tax Rates
The modern theory of high taxation is simply that it will ultimately erode the tax base. Khaldun went further and explained that ultimately the government would be bloated and the tax base eroded—at this point the state would often implode under its own weight, leading to a period of chaos and the rise of a new state.
This, in fact, is a key explanation for the rise and fall of historic empires, including the Roman Empire, the first Persian Empire, and numerous other world powers. Often these empires began by imposing low taxes and thrived. With time, as the power of central state grew, so did also taxes—with stagnation and ultimately state failure as the result.
Bruddah IZ
DA
Arthur Laffer started an intellectual tradition of questioning high-tax policies because he knew of the work of Ibn Khaldun many centuries before and built on this tradition. Knowing the history of free markets is valuable for guiding the present. The ancient free-market intellectual tradition that existed in the Middle East, and independently also arose in China, is not well known today. Yet, it addressed the very same issues that are relevant today, pointing to the damaging effects of high taxation, government attempts to control market exchange, lack of respect for private property, and public debt.
Besides Khaldun, there are numerous other Muslim scholars who contributed to free-market economics and whose work deserves a renaissance in the modern world. Al-Mawardi, who was born in the 10th century, believed that public borrowing by the state should only be considered as a last resort and in rare cases.
Abu Yusuf, an 8th-century chief judge of Baghdad, who wrote a treatise on taxation and fiscal problems of the state, thought that development projects whose benefit is general should be financed through public revenues. However, projects that benefited specific groups should not be part of public expenditure but rather funded by the particular group itself. Yusuf applied cost-benefit analysis when he wrote: “the authorities must cancel the project of digging any canal whose damage is greater than its benefits.”
Besides Khaldun, there are numerous other Muslim scholars who contributed to free-market economics and whose work deserves a renaissance in the modern world. Al-Mawardi, who was born in the 10th century, believed that public borrowing by the state should only be considered as a last resort and in rare cases.
Abu Yusuf, an 8th-century chief judge of Baghdad, who wrote a treatise on taxation and fiscal problems of the state, thought that development projects whose benefit is general should be financed through public revenues. However, projects that benefited specific groups should not be part of public expenditure but rather funded by the particular group itself. Yusuf applied cost-benefit analysis when he wrote: “the authorities must cancel the project of digging any canal whose damage is greater than its benefits.”
Bruddah IZ
DA
The Richest Man in Babylon knew.
Sheriff Joe
DA
I am a smart fucker.
Sheriff Joe
DA
How times change.
Bruddah IZ
DA
The more they stay the same.
Nice little rhapsody there guys.
Sheriff Joe
DA
'Trump Bump' in Economy is Strongest in Deep Blue California
11 hours ago
https://www.google.com/url?sa=t&sou...KDAA&usg=AOvVaw3wvtLSK6sSXyWMPYhqRG4V&cf=1
11 hours ago
https://www.google.com/url?sa=t&sou...KDAA&usg=AOvVaw3wvtLSK6sSXyWMPYhqRG4V&cf=1
Hüsker Dü
DA
Strange that a state that knows what it is doing and continues to grow economically is diametrically opposed to Trump.
"The U.S. economy grew in the first quarter at a slightly slower pace than previously estimated, while tax cuts gave a significant boost to corporate profits, according to Commerce Department data released Wednesday."
https://www.bloomberg.com/news/arti...ter-growth-revised-down-to-2-2-on-inventories
Just about every policy Donald Trump imposes to make his America great is opposed by the world's fifth-largest economy. That would be California, which is growing faster and outperforming the U.S. in job growth, manufacturing, personal income, corporate profits and the total return of its bonds. The most populous U.S. state, with 39.5 million people, supplanted the U.K. as No. 5 in the world with an equivalent gross domestic product of more than $2.7 trillion, increasing $127 billion last year, according to data compiled by Bloomberg.
Trump attributes the prosperity of the U.S. economy during his 17 months as president to his evisceration of environmental regulations and other consumer protections, abandoning the Paris climate accord, aggressively deporting undocumented immigrants, prohibiting people from certain nations (mostly majority Muslim) from emigrating to the U.S., prosecuting sanctuary cities for protecting immigrants, cutting taxes most for corporations and the rich, and appointing a Supreme Court justice who just wrote the 5-4 decision limiting the rights of tens of millions of workers.
Jerry Brown, California's longest-serving governor, takes the opposite approach, and his state thrives.
https://www.bloomberg.com/view/arti...alifornia-state-s-economy-vastly-outpaces-u-s
Hüsker Dü
DA
Pearls of reality dropped on the head of the disingenuous, hypocrites and liars that dwell in troll-like form in forums like this.
Bruddah IZ
DA
Is reality your friend or foe?
Hüsker Dü
DA
Are you trying to be stupid or just dumb?
Wash your hands and face, sit down at the table and look up " Scared Shitless ".......now look up " Demented Political Supporter "....Now go outside and scream to the heavens for the TRUTH !
Immigration agents arrest 114 at Ohio landscaper
No criminal charges were filed against the company, but the employer is under investigation, authorities said. Two locations were searched, and Khaalid Walls, an agency spokesman, said "a large volume of business documents" were seized.
In April, agents made about 100 worker arrests at a meatpacking plant in rural Tennessee, another high-profile show of force reminiscent of President George W. Bush's administration. No criminal charges have been filed against the employer.
http://www.msn.com/en-us/news/us/im...-114-at-ohio-landscaper/ar-AAyfpHz?ocid=ientp
There are a few different points in this article. But it's clear to see that that the cheap labor loving conservatives are happy to be rearranging the deck chairs on the Titanic. These illegal immigrants drive down wages for all of us. Fine the shit out of these employers and we wouldn't have nearly the illegal immigrant problem that we have. But that will never happen with Trump and the cheap labor conservatives in power. Hell Trump's properties directly benefit from this cheap labor.
No criminal charges were filed against the company, but the employer is under investigation, authorities said. Two locations were searched, and Khaalid Walls, an agency spokesman, said "a large volume of business documents" were seized.
In April, agents made about 100 worker arrests at a meatpacking plant in rural Tennessee, another high-profile show of force reminiscent of President George W. Bush's administration. No criminal charges have been filed against the employer.
http://www.msn.com/en-us/news/us/im...-114-at-ohio-landscaper/ar-AAyfpHz?ocid=ientp
There are a few different points in this article. But it's clear to see that that the cheap labor loving conservatives are happy to be rearranging the deck chairs on the Titanic. These illegal immigrants drive down wages for all of us. Fine the shit out of these employers and we wouldn't have nearly the illegal immigrant problem that we have. But that will never happen with Trump and the cheap labor conservatives in power. Hell Trump's properties directly benefit from this cheap labor.