A Quote by Woody Harrelson
Right now there should be a moratorium on the cutting down of old growth in this country. That is a small thing to ask at this point. There is only four percent of old growth left. Ninety-six percent of it has been cut down.
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If we had 3 percent growth, which is what we're trying to get to, what we're at, by the way, right now, we're trying to maintain that 3 percent growth. If we had been at 3 percent growth over the last ten years, the budget very nearly would be balanced in 2017. That's how big a difference it makes when you grow the American economy that additional 1 percent over ten years.
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.
There's no growth. If China has a GDP of 7 percent, it's like a national catastrophe. We're down at 1 percent. And that's, like, no growth. And we're going lower, in my opinion. And a lot of it has to do with the fact that our taxes are so high, just about the highest in the world. And I'm bringing them down to one of the lower in the world.
My approach to cutting spending as president, is to do a ten percent across the board cut of all federal agencies, and then ask each of my new agency heads to find another ten percent by drilling down. That's what you do in business to come up with approximately 20 percent cuts for the first fiscal year budget.
The massive debt we have racked up to finance our wasteful government is pulling down growth today. Gross debt over 90 percent of GDP weakens growth now. Not tomorrow - now.
The Ninety-Ninety Rule of Project Schedules - the first ninety percent of the task takes ninety percent of the time, and the last ten percent takes the other ninety percent.
We're bringing the corporate rate down to 20 percent from 35 percent. That's a massive - this will be the biggest tax cut in history. In the history of our country. And that's great. And we need it. Because right now, our country's about the highest taxed or certainly one of the highest taxed in the world. And we can't have that. So we're going to have a country that's toward the lower end.
When I think back to 2005, the fast growth markets - what we call the fast growth markets - were probably ten percent of our business. They are now 31 percent.
In the late 1980s the amount of German films was down to four or five percent of the market, and the remaining 95 percent were American. It is now 20 to 30 percent German productions.
In China, it was always said that a double-digit rate of growth would be dangerous. Now, the country has a growth rate of 6.9 percent and suddenly that is supposed to be a catastrophe for the global economy.
Obama wants to take the individual small business tax to 44 percent, and the corporate rate - he says - down to 28 percent or whatever. But that really damages the small businesses. And it doesn't make us competitive. You got to take them both down to 20, because state and local corporate taxes are 5 percent.
Wages for the ninety-nine percent have gone down, steadily, since 2008. They've gone down especially for the bottom twenty-five percent of the population. This means that they've gone down especially for Blacks and Hispanics and other blue-collar workers. Their net worth has actually turned negative, and they don't have enough money to get by.
For a developing country, average long-run growth of 5 percent a year per capita is excellent, and 7 percent is stellar.
Persistence isn't very glamorous. If genius is one percent inspiration and ninety-nine percent perspiration, then as a culture we tend to lionize the one percent. We love its flash and dazzle. But great power lies in the other ninety-nine percent.
Education spurs growth and unlocks potential. After all, a single year of primary education creates a 10 to 20 percent increase in a woman's wages later in life. Education lowers the risk of disease and decreases the likelihood that a child will fall into violence and crime. And a child born to a literate mother is 50 percent more likely to survive past age five. No country has achieved sustained growth without at least 40 percent literacy for its adults.
I'm not expecting a big sell-off but I do think that if we don't have a move toward economic growth and policies that will promote economic growth and get us out of this 2 percent world - we really need to see 4 percent, 5 percent - to see jobs created, and if we don't see that longer-term, yeah the market will sell-off...[but] I do think things are getting better. It's just been very slow.
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