…says Hillary Clinton.
She also says Brazil’s economy is booming because they have the highest taxes in the western hemisphere.
obviously she’s wrong, but I don’t know anything a brazil’s economy.
anybody know what’s actually going on in Brazil?
I hope that the government of Brazil refuses the message of Hillary and Obama and the Neocons and instead accellerates the process of giving their people more economic freedom. Taxes have only hindered the growth of the economy in Brazil. The country of Brazil is in the slow process of allowing the people there more freedom especially in the economic arena. Gone are the days of hyperinflation that still affect the surrounding countries especially Venezeula. In fact the country is worried (Incorrectly in my opinion) that their currency will increase relative to the dollar and they will end up importing everything from the USA that isn’t already imported from China. As they become more free they are building businesses and managing their existing businesses more effectively.
Brazil and Chile to a lesser degree are finding that they need software, heavier machinery, open financial markets as their manufacturers scramble to compete with China. The population is rapidly becoming as computer savy as any in the world.
lol
Brazil is the most resource abundant/rich nation in the entire world, who recently found a major oil reserve off the cost of Rio. Brazil has a relatively high growth rate when compared to major industrialized nations, but actually lags behind the other BRIC countries. Brazil has always had, and continues to have, a big government that frequently intervenes in economic affairs, which is why this resource endowed nation has remained in absolute poverty. Until 1990, Brazil had a “crawling peg” regime tied to the dollar, where Brazilian banks continuously financed government expenditure. Needless to say, this lead to enormous inflation and retarded long-term economic growth (for a while, they had a fixed exchange rate). Since 1990, on the other hand, they have allowed their currency to float, and their central bank, the BCB, engages in inflation-targeting (they target short-term interest rates). But there is still a good amount of inflation, and It could very well be the case that their recent economic growth is just another LDC bubble.
But again, growth rates for LDC’s tend to be very high (Bosnia has like a 40% growth rate).
I would just love to hear her try and explain just how this is supposedly so–i.e. just how high tax rates contribute to economic growth. How economically illiterate can you get…
Hey, guys! The United States is much more prosperous than Somalia, so therefore governments must lead to higher prosperity! Just ignore, y’know, the warfare, cultural differences, lack of accumulated capital, size of the nation, level of resources, etc. That’s unimportant.
She seems to ignore that most income taxes (in terms of percentages) are already paid by the people in the top brackets.
I wish for once someone on the left would define explicitly what is a “fair share” for a rich person to pay.
I wish someone on the left would recommend a policy that would actually help poor people at the expense of the rich.
Why? The accumulation of wealth is not a zero-sum game.
I said “i wish someone on the LEFT..” 