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tomder55 · Sep 26, 2011, 06:39 AM

Should the IMF be bailed out ?

Christine Lagarde: IMF may need billions in extra funding - Telegraph

You see if we don't bailout the IMF then they can't bailout the EU states too big to fail... who in turn would have to make changes in their nanny states if they didn't get the IMF bailout .

Sorry IMF the US piggy bank is empty . Ask the Chinese to stop building their blue water navy... Maybe they can contribute to the IMF bailout with the surplus US debt they are holding . Or maybe Bernanke will jack up the QEIII printing presses to create more devalued dollars .

smoothy · Sep 26, 2011, 08:50 AM

No, the IMF is FULL of WAY overpaid people, with excessive benefits. Most get fully reimbursed for private schools and colleges for their kids, pay no income taxes (forgeigners are exempt and citizens get reimbursed for what taxes they do pay. In many cases they also get allowances for live in housekeeping staffs.

I can go on and on too... I know a lot of people that work there and what they get. $10-20K a month pay is considered on the low end.

paraclete · Sep 26, 2011, 03:29 PM

Don't bail the IMF out it is the most destructive economic device wrecking havoc on the economies of poor and failing nations.

talaniman · Sep 26, 2011, 09:22 PM

I know a few countries that can stand some restructuring. Be nice if the Euro had one system of finance instead of 6 or 7.

paraclete · Sep 26, 2011, 10:28 PM

Tal it would be nice if it were a perfect world but it isn't. Common markets have their difficulties particularly if the countries are at different stages of development. It was a great idea for the original nations and if it had stopped there ~ however greed being what it is and empires always form.

Back to the IMF which of course is a horse of a different colour, a way of keeping the poor poor and the rich nations on top. As to restructuring, it should start with the rich nations. The US is obviously long overdue

tomder55 · Sep 27, 2011, 02:23 AM

Yeah we could do with less progressivism .

NeedKarma · Sep 27, 2011, 04:16 AM

Originally Posted by tomder55

yeah we could do with less progressivism .

I like being progressive:

a : of, relating to, or characterized by progress
b : making use of or interested in new ideas, findings, or opportunities
c : of, relating to, or constituting an educational theory marked by emphasis on the individual child, informality of classroom procedure, and encouragement of self-expression

It beats being regressive.

smoothy · Sep 27, 2011, 04:49 AM

Gee... There is nothing progressive about redistribution of wealth. Its just mob mentality run ammok.

Particularly since people really began to understand what Liberals really stood for... like changing a name changes anything. Remember Bill Clinton and "it depends on what the definition of "is" is."

If a word doesn't fit what they want it to mean... they dream up a new definition.

NeedKarma · Sep 27, 2011, 04:58 AM

Originally Posted by smoothy

If a word doesn't fit what they want it to mean....they dream up a new definition.

I know, that's what conservatives did to the word "progressive".

smoothy · Sep 27, 2011, 05:04 AM

Nope... The democrats are the ones that did it to that just like they did to the word Liberal. Gee, why aren't the lefties proud to call themselves liberal these days? Is it because they can't pretend it means something other than what they turned it into?

A leopard can't change its spots.

NeedKarma · Sep 27, 2011, 05:56 AM

Originally Posted by smoothy

Nope......The democrats are the ones that did it to that just like they did to the word Liberal.

Oh I know that, here's some info:
Progressive Democrats of America - Wikipedia, the free encyclopedia

Nowhere does it say "wealth redistribution". You made that up of course.

tomder55 · Sep 27, 2011, 06:02 AM

Specific policies that fall under the category of economic socialism include: progressive taxes and income redistribution aimed at reducing inequalities of wealth,

The economic theory that underpins most of the policies listed above is Keynesian economics. However, many organizations that promote economic progressivism can be characterized as anti-capitalist and include principles and policies based on Marxism, Libertarian Socialism, and other leftwing schools of socio-economic thought.

Economic progressivism - Wikipedia, the free encyclopedia
That's my last reply about the semantics game being played .

paraclete · Sep 27, 2011, 06:15 AM

Originally Posted by tomder55

yeah we could do with less progressivism .

So Tom the answer is a return to tarriff walls, inheritance taxes, inefficient local taxes

tomder55 · Sep 27, 2011, 06:41 AM

We have all those on top of the progressive income tax and many other hidden fees ,licensings, tolls etc.. Over in Europe they also tack on national VATs . Gimme a break ! It's not that the governments don't collect enough revenues... They spend too much.

paraclete · Sep 27, 2011, 06:50 AM

Originally Posted by tomder55

We have all those on top of the progressive income tax and many other hidden fees ,licensings, tolls etc.. Over in Europe they also tack on national VATs . Gimme a break ! It's not that the governments don't collect enough revenues... They spend too much.

I think you should examine the Greek situation, it is exactly that that government doesn't collect enough revenues. I would agree they also spend too much but if they had an effective taxation system they wouldn't have the problem they do.

Not living with a VAT you fail to understand what an effective mechanism it really is. If your country had that effective mechanism then perhaps there would not be an argument for raising income tax. In my fair land income tax rates have fallen dramatically since the introduction of the GST. Now a Carbon Tax, that is a horse of a different colour.

smoothy · Sep 27, 2011, 06:50 AM

Originally Posted by NeedKarma

Oh I know that, here's some info:
Progressive Democrats of America - Wikipedia, the free encyclopedia

Nowhere does it say "wealth redistribution". You made that up of course.

Its part and parcel to the Democrat party platform... Obama and many prominent Lefties call for it, and have publicly, many times.

YOU yourself call for it here by saying the so called "Rich" should pay everything. And the so-called "poor" should pay nothing.

tomder55 · Sep 27, 2011, 06:55 AM

Not living with a VAT you fail to understand what an effective mechanism it really is. If your country had that effective mechanism then perhaps there would not be an argument for raising income tax. In my fair land income tax rates have fallen dramatically since the introduction of the GST. Now a Carbon Tax, that is a horse of a different colour

I'd glady take it instead of an income tax.

NeedKarma · Sep 27, 2011, 07:00 AM

Originally Posted by smoothy

YOU yourself call for it here by saying the so called "Rich" should pay everything. And the so-called "poor" should pay nothing.

Ok, quote me where I said that.

smoothy · Sep 27, 2011, 07:09 AM

Originally Posted by NeedKarma

Ok, go ahead and quote me where I said that.

Why should I waste my time. I know you have, you know you have... every Democrat thinks its fair for half the population to pay no taxes and still argue the "Rich" aren't paying enough.

THAT is exactly what redistribution of wealth is.

It wasn't cute or Clever when Bill Clinton tried to parse words... and nothing has changed since.

NeedKarma · Sep 27, 2011, 07:27 AM

Originally Posted by smoothy

Why should I waste my time. I know you have, you know you have....every Democrat thinks its fair for half the population to pay no taxes and still argue the "Rich" aren't paying enough.

a) I never said it so you owe me an apology
b) I'm not even a democrat
c) you don't speak for all people who define themselves as democrats - people are individuals and beliefs run along a continuum. There are extremes on both sides.

I can't imagine living in a country where 50% of the population hates the other 50% - sounds like hell on earth.