Global Economy Bursting?

[Terrel L. Shields]

If valuations vs. tax assessments are any measure, there is going to be a continual drain on the tax base in our area. The assessments are very high compared to the real world. In particular I see a lot of property valued by the assessor at $400,000 or so that is on the market at $275,000 or even less. Some homes have been vacant since built in 2006. Bank owned property is selling for even less which the assessor can argue is not "market value" [the state forbids them to use bank sales as comps here] but you are seeing resales, short sales [which the assessor cannot identify since they don't access the MLS nor Realtors], and flips by the pros.

It looks to me like states with balanced budget amendments are doing better than states who borrow significant amounts. But if the feds manage to dump their "problem" by foisting unfunded mandates off on the states (Medicare in particular), then the states head for a real crisis and the feds go back to spending like money was water. I think it is high time that Republicans recognize that if we intend to pursue every terrorist in every nation of the world, that we must raise taxes. And if we don't then it is high time to get the L out of the middle east and let it degenerate into the mess that it is. At least it will save our lives and money. Close 90% of our overseas bases. Slash the military budget. Stop sticking our nose into the politics of Libya, Egypt, Syria, Iran, Iraq, and 14 gillion other places. We don't have to save the world especially when most of the world hates our guts.

 

[Meandering]

If valuations vs. tax assessments are any measure, there is going to be a continual drain on the tax base in our area. The assessments are very high compared to the real world. In particular I see a lot of property valued by the assessor at $400,000 or so that is on the market at $275,000 or even less. Some homes have been vacant since built in 2006. Bank owned property is selling for even less which the assessor can argue is not "market value" [the state forbids them to use bank sales as comps here] but you are seeing resales, short sales [which the assessor cannot identify since they don't access the MLS nor Realtors], and flips by the pros.

This is becoming a major problem here. In many areas, there were no sales that were not distressed sales in the last 6 months. If the states and the Assessor's continue the hold out that distressed sales are not maket value, within the year, there are areas where we may not find any sales that were not distressed sales, equating to no comparables that meet the state's definition of comparables.

The Counties and States should take a hard look at the transfer dollars lost with the MERs system, but even that would be short term, if they could get an award.

The lenders and governments are all concerned over strategic market defaults for foreclosure, but they may be building toward another default, by people who refuse to pay taxes on properties that are not worth what the Assessor's says they are.



.

 

[Couch Potato]

Balance the budget now.

If valuations vs. tax assessments are any measure, there is going to be a continual drain on the tax base in our area. The assessments are very high compared to the real world. In particular I see a lot of property valued by the assessor at $400,000 or so that is on the market at $275,000 or even less. Some homes have been vacant since built in 2006. Bank owned property is selling for even less which the assessor can argue is not "market value" [the state forbids them to use bank sales as comps here] but you are seeing resales, short sales [which the assessor cannot identify since they don't access the MLS nor Realtors], and flips by the pros.

It looks to me like states with balanced budget amendments are doing better than states who borrow significant amounts. But if the feds manage to dump their "problem" by foisting unfunded mandates off on the states (Medicare in particular), then the states head for a real crisis and the feds go back to spending like money was water. I think it is high time that Republicans recognize that if we intend to pursue every terrorist in every nation of the world, that we must raise taxes. And if we don't then it is high time to get the L out of the middle east and let it degenerate into the mess that it is. At least it will save our lives and money. Close 90% of our overseas bases. Slash the military budget. Stop sticking our nose into the politics of Libya, Egypt, Syria, Iran, Iraq, and 14 gillion other places. We don't have to save the world especially when most of the world hates our guts.

While I don't have a problem with doing any of that, it would not help our budget problems. Defense is such a small part of the budget eliminating the entire Department of Defense and the entire Department of Transportation would still leave a deficit of hundreds of billions of dollars. On the other hand eliminating the Department of Health and Human Services alone would just about eliminate it.

It is time for our elected officials to do the right thing rather than simple preserve their jobs through vote-buying schemes.

 

[Meandering]

It is time for our elected officials to do the right thing rather than simple preserve their jobs through vote-buying schemes.

Bingo!

It would be interesting if they lowered the corporate tax to 2% and raised import taxes by 3%. Might bring back many jobs.

 

[prasercat]

This totally ignors the fact that we were a protectionist economy with high import tarrifs, we were not the world's policemen and we were not shipping our jobs overseas. These along with the high percentage of agriculture which was performed by many "family" farms for their own survival, without risk of lawsuits from mega corporations that claim "ownership" of the genetics of the food plants have all changed, what we "were" and where we "were" to where we are now.

Taking perscription drugs from the elderly will not reduce the interest on the national debt.

Rising inflation will reduce the interest on the national debt, but will substantially raise prices for every thing here, because we import most everything. That, with reduced "entitlements" and more and more job cuts will make for a very scary place to live.

Hope you all stocked up on your beans and ammo.

.

I do agree with your comments, but it wasn't ever about taking prescription drugs from the Elderly.

Firstly, it is about taking all their money and putting it into investments that ensure removal of their net worth, while at the same, enrich investment firms.

Then you drive interest rates to zero so that the investment firms or the government don't have to pay any interest to the elderly on whatever money they have left.

Then you transfer the interest and principal the elderly put away into social security all their working lives to the investment firms via privatization of Social Security, so that they can just get it over with quickly and painlessly and get on with other more profitable and creative enterprise using that money. Like, how about, just taking it.

Then you take away medicaid, so they can no longer stay in the nursing home. But who would care anyway, since many have Alzheimer's and don't know who or where they are. So it is then only necessary to point them in a direction away from the nursing home and let them wander into the street, away from the nursing home (which was only meant for the rich, anyway). Then one can decrease taxes on the wealthiest of Americans further, which would create massive amounts of jobs,

Then you take away their prescriptions, because after all. The one's that are entitled should be the one's that are wealthy and those that are not wealthy, that have anything, should turn over their wealth and any entitlements to their proper owner - the entitled few.

==========

Has anyone noticed that the media conversation (including the Rating Agencies) is always on the expense side and not the revenue side, as in JOBS. We aren't even talking taxes here, this is the Main Revenue issue.

It is no secret that the entitled few don't want their ability to move jobs overseas restricted; hence, the total silence on the job creation or revenue side of the equation.

There isn't an economist in the world that would focus just on one side of the balance sheet. There is the tax revenue and expense side of the Federal budget, which needs to be managed prudently and balanced for long-term solvency. But the very foundation of our economy and which puts the Federal budget in a secondary position of importance, is job growth (without revenue, just forget about everything else, including tax breaks).

Hey, lets not let Murdock dictate the conversation. Why don't we introduce JOB GROWTH into the conversation and start moving jobs from overseas to our own shores again.

If you were baking up a solution, what ingredients would you use? Why, I would first ponder heavily upon my spice cabinet and fridge. Then I would pull out these items first:

1) Cut back on military spending.

2) Create incentives for job growth here vs overseas; which includes, tax breaks to companies creating most of their jobs here.

3) Put a tax on imports to create a more even competitive enviroment for our businesses, which will help fund tax breaks in #2.

4) Raise the retirement age for younger Americans.

5) Stop giving subsidies to giant agri-business and give it back to the small farmer. Stop giving subsidies to oil companies and given them to alternate energy companies and installation programs.

6) Stop the Bush tax cuts for the wealthy, until we can fiscally afford them again.

7) Look for ways to trim costs for medicaid, and medical expenses by taking back the medical system from Wall Street and allowing small operators to profit in such systems again. [The pattern is, small companies benefit everyone, very large companies benefit themselves at everyone's expense.]

6) Controlling or limiting lawsuit awards; particularly, against physicians and small clinics, so we can reduce medical costs further and can have the "country doctor" working out of their home again and creating life-long care relationships with their local patients.

7) Forget FREE TRADE. Nothing is FREE. We are now paying the price.

8) Restart enforcement (and strict enforcement) of our antitrust laws and stop allowing mega mergers to happen and companies to dominate competition.

9) Stop after-hours trading in the stock market and restore the old accounting standards, so people can actually know how a company is doing financially.

 

[Randolph Kinney]

All the things being talked about won't happen because of the Charlie Brown-Lucy syndrome - trust me, I won't move the football before you kick it.

Businesses moving operations overseas got there because of past policies. Changing policies now won't help because of the temptation to reverse them again.

The high tax - high income states are going to take a pounding and sink as population move to low income - low tax states.

 

[prasercat]

All the things being talked about won't happen because of the Charlie Brown-Lucy syndrome - trust me, I won't move the football before you kick it.

Businesses moving operations overseas got there because of past policies. Changing policies now won't help because of the temptation to reverse them again.

The high tax - high income states are going to take a pounding and sink as population move to low income - low tax states.

There is always temptation, that's what enforced government regulation is for.

People go and live where the jobs go, but the jobs are going overseas. I wouldn't think in terms of just our borders.

http://www.henleyglobal.com/citizenship/dual-citizenship/

 

[Couch Potato]

Too Funny!

I do agree with your comments, but it wasn't ever about taking prescription drugs from the Elderly.

Firstly, it is about taking all their money and putting it into investments that ensure removal of their net worth, while at the same, enrich investment firms.

Then you drive interest rates to zero so that the investment firms or the government don't have to pay any interest to the elderly on whatever money they have left.

Then you transfer the interest and principal the elderly put away into social security all their working lives to the investment firms via privatization of Social Security, so that they can just get it over with quickly and painlessly and get on with other more profitable and creative enterprise using that money. Like, how about, just taking it.

Then you take away medicaid, so they can no longer stay in the nursing home. But who would care anyway, since many have Alzheimer's and don't know who or where they are. So it is then only necessary to point them in a direction away from the nursing home and let them wander into the street, away from the nursing home (which was only meant for the rich, anyway). Then one can decrease taxes on the wealthiest of Americans further, which would create massive amounts of jobs,

Then you take away their prescriptions, because after all. The one's that are entitled should be the one's that are wealthy and those that are not wealthy, that have anything, should turn over their wealth and any entitlements to their proper owner - the entitled few.

==========

Has anyone noticed that the media conversation (including the Rating Agencies) is always on the expense side and not the revenue side, as in JOBS. We aren't even talking taxes here, this is the Main Revenue issue.

It is no secret that the entitled few don't want their ability to move jobs overseas restricted; hence, the total silence on the job creation or revenue side of the equation.

There isn't an economist in the world that would focus just on one side of the balance sheet. There is the tax revenue and expense side of the Federal budget, which needs to be managed prudently and balanced for long-term solvency. But the very foundation of our economy and which puts the Federal budget in a secondary position of importance, is job growth (without revenue, just forget about everything else, including tax breaks).

Hey, lets not let Murdock dictate the conversation. Why don't we introduce JOB GROWTH into the conversation and start moving jobs from overseas to our own shores again.

If you were baking up a solution, what ingredients would you use? Why, I would first ponder heavily upon my spice cabinet and fridge. Then I would pull out these items first:

1) Cut back on military spending.

2) Create incentives for job growth here vs overseas; which includes, tax breaks to companies creating most of their jobs here.

3) Put a tax on imports to create a more even competitive enviroment for our businesses, which will help fund tax breaks in #2.

4) Raise the retirement age for younger Americans.

5) Stop giving subsidies to giant agri-business and give it back to the small farmer. Stop giving subsidies to oil companies and given them to alternate energy companies and installation programs.

6) Stop the Bush tax cuts for the wealthy, until we can fiscally afford them again.

7) Look for ways to trim costs for medicaid, and medical expenses by taking back the medical system from Wall Street and allowing small operators to profit in such systems again. [The pattern is, small companies benefit everyone, very large companies benefit themselves at everyone's expense.]

6) Take action against controlling lawsuit awards; particularly, against physicians and small clinics, so we can reduce medical costs further and can have the "country doctor" working out of their home again and creating life-long care relationships with their local patients.

7) Forget FREE TRADE. Nothing is FREE. We are now paying the price.

8) Restart enforcement (and strict enforcement) of our antitrust laws and stop allowing mega mergers to happen and companies to dominate competition.

9) Stop after-hours trading in the stock market and restore the old accounting standards, so people can actually know how a company is doing financially.

If you drop the third word from number six you have one worthwhile idea.

 

[Terrel L. Shields]

population move to low income - low tax states

...where those immigrants immediately demand services they got in CA, FL and NY...and drive the need to grow the tax base thus raising taxes in those states to the point they flee.

Years ago, someone from Wyoming said the Rich ran the natives out of Jackson Hole and moved on to Thermopolis and were now buying them out so the natives are moving on to Douglas now....next stop the Red Desert.

 

[Randolph Kinney]

Common complaint about Californians - they move to other states. I can remember living in Arizona where the saying was, "Don't Californicate Arizona."

We have illegals in California and they have brought their culture and values. California gives them in state tuition and bonus money for being illegal.

Undocumented students arrested during protest

http://www.fontanaheraldnews.com/articles/2011/07/14/news/doc4e1f195cf2da4053553021.txt