A Quote by Paul Krugman
The economic expansion that began in 2001, while it has been great for corporate profits, has yet to produce any significant gains for ordinary working Americans. And now it looks as if it never will.
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Gains in corporate profits depend in large part on accelerating global economic growth.
Five years of Republicans' failed energy policies have resulted in Americans paying twice as much at the pump as they did in 2001, while big oil companies make triple the profits.
Well, certainly the Democrats have been arguing to raise the capital gains tax on all Americans. Obama says he wants to do that. That would slow down economic growth. It's not necessarily helpful to the economy. Every time we've cut the capital gains tax, the economy has grown. Whenever we raise the capital gains tax, it's been damaged.
My plan has all that. It's energy independence. It will help our economy. It's a significant tax cut for corporations, including automatic expensing. It's bringing all those profits home from Europe without any taxation. It's lowering our corporate - or our personal rate to 28 percent, the same rate that Ronald Reagan had.
Populists have always been out to challenge the orthodoxy of the corporate order and to empower workaday Americans so they can control their own economic and political destinies. This approach distinguishes the movement from classic liberalism, which seeks to live in harmony with concentrated corporate power by trying to regulate excesses.
One of the most important things we can do right now is empower ordinary working Americans who really do deserve a fair shot in this economy. But I'm not afraid to talk about any issue. But I do believe it is a distraction.
Legislation to create a new 10 percent tax bracket, reduce the marriage penalty, cut the tax rate on dividends and capital gains, and increase the child tax credit have been essential elements in this economic expansion.
What's new is that the White House itself has now been corporatized. It's not politicians working for the corporate interests. They are the corporate interests. That's where Bush came from, and Cheney and Rumsfeld.
In short, it's a great economy if you're a high-level corporate executive or someone who owns a lot of stock. For most other Americans, economic growth is a spectator sport.
In this view, the role of the great majority of Americans is simply to buy the products produced, work happily for their wages, and leave all of the significant economic decisions to the capitalists.
The president is eager to get to work and looks forward to working with the new Congress on policies that will make sure middle-class Americans are sharing in the economic recovery, but the president is clear that he will not let this Congress undo important protections gained -- particularly in areas of health care, Wall Street reform and the environment.
The Joint Committee on Taxation estimated that in 2016, the corporate income tax raised $300 billion in revenue, while what it called 'targeted subsidies' cost about $270 billion. In other words, Congress could eliminate the subsidies and cut the corporate rate nearly in half without any significant loss in revenue.
Markets are interested in profits and profits only; service, quality, and general affluence are different functions altogether. The universal, democratic prosperity that Americans now look back to with such nostalgia was achieved only by a colossal reigning in of markets, by the gargantuan effort of mass, popular organizations like labor unions and of the people themselves, working through a series of democratically elected governments not daunted by the myths of the market.
Our true choice is not between tax reduction on the one hand and the avoidance of large federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget, just as it will never produce enough jobs or enough profits.
When a hacker gains access to any corporate data, the value of that data depends on which server, or sometimes a single person's computer, that the hacker gains access to.
I believe we have made a decision now that will permit us to create an economic order in the world that will promote more growth, more equality, better preservation of the environment, and a greater possibility of world peace, we are on the verge of a global economic expansion that is sparked by the fact that the United States at this critical moment decided that we would compete, not retreat.
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