Comments on: This election, Obama is the wiser economic choice http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/ Sat, 21 Jun 2014 15:30:06 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Freedom4A http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-710 Mon, 05 Nov 2012 05:40:02 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-710 @AlkalineState– Although the government is not an asset, it, together with the congress, controls the nation’s assets. My bet is, if elected, Romney will allow wild expansion oil/gas extraction and sell our natural resources to China, Japan, etc. in order to generate revenue and balance the budget. In the process, you may already know who made the most profit. The promise to plug loopholes to the wealthy would be forgotten, as it was never his intention. That’s why he did not present any details.

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By: truthrider http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-709 Sat, 03 Nov 2012 17:31:29 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-709 I hope that every veteran will remember that a vote for Mitt Romney is a slap in the face to everyone who has worn the uniform.

He promoted the Viet Nam War and then ran away to France to dodge the draft, leaving poorer Americans to fight and die in a war Romney pushed for.

If we later find that Obama was involved in a major coverup in Libya, I’ll be the first in line to vote to impeach him. However, we don’t know yet.

However, we DO know the full details about Romney and his draft dodging. There is nothing worse than a coward who helps start a war for others to die in. He does not deserve to be Commander in Chief. Do not dishonor our veterans!

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By: matthewslyman http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-708 Fri, 02 Nov 2012 23:34:12 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-708 @AlkalineState: I read about that too: it’s odd (unless you consider the full cultural economic context) how far America came from one end of the spectrum (high tariffs, low income/property taxes) to almost the exact opposite! America would do well to reflect on its ideological journey w.r.t. trade and intellectual property policy, over the last two hundred years.

In my opinion, import tariffs should be reintroduced, although not at the 40% level (which was confiscatory, misguidedly protectionist, abusive and unfair). 20%–30% should be standard for countries that are not particularly for/against America, or for countries that clearly lack human rights parity. 5%–10% might be a reasonable standard for nations with reasonably similar human rights standards. Free trade should only be done under very strict parity of wages, rights, economic policies etc.; which are strategically allied with the USA.

One of the reasons why import tariffs are essential is because there’s no way to comprehensively prevent countries from cheating by finding some loophole in WTO rules that allows them to unfairly give anticompetitive support or strategic direction to their industries, or finding sneaky ways to erect artificial barriers preventing foreign companies from competing locally on equal terms. The USA cannot regulate what China does internally, or force China to apply their laws with equity; and China cannot force the USA to do this either. So import tariffs are required to stop competing economies from deliberately undermining each others businesses; and also, to stop accidental local differences from acting like an uncontrolled wrecking-ball for everyone. I believe that the tendency for problems in one part of the globe to snowball into a global crisis might be partially mitigated by a restoration of tariffs at modest levels.

You need to be careful with this though. For example, if you slap an tariff on imports of primary goods (minerals such as rare-Earth metals from China), this could put American high-tech manufacturers at a serious disadvantage in world trade. But this effect could be counterbalanced with a rebate on the import tax when the finished goods are exported. (This system could work administratively rather like the European taxes on business turnover, such as the British VAT.)

CAVEAT: I am an amateur w.r.t. economics. These are my current personal opinions (subject to change, but backed up with some reasoning as discussed above).

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By: AlkalineState http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-707 Fri, 02 Nov 2012 22:27:34 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-707 Romney lacks the electoral votes necessary to win the Presidency. The primary reason for that is his failure to articulate how liquidating assets equates to running a country. The government is not the asset, it’s just management. You can pare it down, sure. But Bain was in the business of selling off real assets. For America, those would mean things like…. Texas; Seattle; Our aircraft carriers. Is that the Romney economic plan. Sell our assets to China? Hide the money in a Dubai bank account? Countries are not businesses. We are stuck with Alabama whether she performs or not.

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By: woopstime http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-706 Fri, 02 Nov 2012 20:25:08 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-706 HA, HA, HA, Mr. Summers you are to much. Oh yeah, the last 4 years have been great. Or do we just count these as the last 4 years of the 12 year Bush administration like Obama believes?

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By: Seryusly http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-705 Fri, 02 Nov 2012 18:55:00 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-705 AlkalineState, we’ll let that be your little secret. I’ll want to see your surprise face when Obama is NOT re-elected. He’s toast.

ObamaCare is already causing us to lose hospitals, doctors, and health insurance cost spikes. In 2014 you can put all your personal identifiable health information on your Income Tax Return! Buh-Bye HIPPA! (Healthcare Information Privacy Protection Act)

The government is printing money and we are now $16 TRILLION in debt with no end in sight. That may not mean much to you, but we cannot afford 4 more years of Obama.

Dear Uncle Joe correctly said “…how they can justify raising taxes on the middle class that has been buried the last four years?” He also said, “We’re gonna raise your taxes by a Trillion Dollars!” Remember, he means everything he says!

Obama is FAR from the wiser economic choice, unless of course, you live off the government, or you are the government. The rest of us will be “put back in chains” according to Joe Gaffe Biden.

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By: AlkalineState http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-704 Thu, 01 Nov 2012 20:15:15 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-704 ColoKat, it’s too late for you tea party folks. Romney is slipping in the polls again. His swing states are swinging away because he couldn’t hold them. The man generally lacked credibility I guess.

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By: ColoKat http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-703 Thu, 01 Nov 2012 18:54:11 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-703 I just think that this article is another PRO-Obama ad. I AM NOT Pro-Obama and will NOT even consider voting for this failure. His RECORD of the past 4 years gives me NO Confidence in Him for the Next 4 years. He has shown that HIS agendas are the only important ones, he broke many promises-some of which effected both economy and jobs, Never got immigration reform, never came up with a plan to save Medicare, has created MANY more taxes which cause a huge burden on small businesses, and on and on. This man is not the Lessor of 2 Evils-HE IS the EVIL. This country CANNOT handle 4 more years of this Celebrity seeking, hip-hop dancing, buffoon. VOTE Romney/Ryan 2012 For a REAL Change!

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By: AttyJim http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-702 Thu, 01 Nov 2012 18:08:29 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-702 Obama is the better man for the job…. unless you also consider his record. Every business venture that he invested tax payer money in has failed. Even his biggest claim to success – GM – has done nothing to improve the job situation (70% of GM cars built overseas). And the Volt? Ha!

But, ignoring his record… Well, that’s kind of like Charlie Brown trying to kick the football.

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By: Gordon2352 http://blogs.reuters.com/lawrencesummers/2012/10/29/this-election-obama-is-the-wiser-economic-choice/#comment-700 Thu, 01 Nov 2012 13:57:25 +0000 http://blogs.reuters.com/lawrencesummers/?p=276#comment-700 Your headline should read Obama is the “lesser of two evils”. At least it would be the truth, which is an increasingly rare commodity in this nation today.

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