So that's it for the election.

[Alarti0001]

Originally Posted by Orruar [You must be logged in to view images. Log in or Register.]

Yes, because paper money has had a much better history of success... No paper currency has survived longer than about 40 years. The US dollar has just crossed that threshold. Unlikely it will last another 40. Since you're a historical expert about the period of the articles of confederation, certainly you must know about the Continental, our nation's first experiment with paper money. The experience with that paper money is why the founders required money be backed by gold or silver, so that we wouldn't make such a horrible mistake again. And is it just a coincidence that poverty had decreased steadily during the period of the gold standard, and has flattened out and even increased slightly since we went off it?

You do not need the supply of money to grow at the same rate as the economy... Do you just read talking points from Paul Krugman? This argument has been refuted into irrelevance. If the economy grows faster than the supply of money, goods will become cheaper. You may need smaller denominations of currency, but you don't need a larger supply of money.

Finally, let's investigate your claim that if the top 100 companies paid 30% in corporate income taxes, we'd have a balanced budget. The market cap of the top 100 companies totals to $13.3T. We can assume the P/E is between 10 and 15, so let's put it at 13.3 to make it easy. That means these companies have 1 trillion dollars in earnings. Let's assume they currently pay 0 in taxes, which is a bit unlikely, but I'll give it to you. Raising the tax rate to 30% would increase tax revenues by $300B. This is only a small chunk of the $1.1T deficit. The actual tax rate of the largest corporations is about 18.5% right now (see source below), so your increase to 30% would lead to a $115B increase in federal revenue, which is 10% of the deficit. Way to solve the budget deficit buddy.

Info on corporate tax rates:
http://money.cnn.com/2011/11/03/news...axes/index.htm

I'm down for removing 115b per year out of our deficit.

[Lucky]

if we double the co2 in the atmosphere the temperature would raise by 0.36F

[Hitchens]

Gold's main importance as a currency was the difficulty in counterfeiting it.

Gold's main purpose now is as a manufacturing material.

This fascination with gold is nothing more than economic crankery. Hayek didn't take it seriously and neither did Friedman.

[hatelore bloodlust]

Originally Posted by Hitchens [You must be logged in to view images. Log in or Register.]

Gold's main importance as a currency was the difficulty in counterfeiting it.

Gold's main purpose now is as a manufacturing material.

This fascination with gold is nothing more than economic crankery. Hayek didn't take it seriously and neither did Friedman.

Umm no, the importance of gold as a standard for currency is because it is a precious metal and very rare to obtain. Please go to Wikipedia and read up on precious metals, if you would like to learn why it has been used for thousands of years as a major currency. Then come back here and attempt to edumicate us.

[Hitchens]

Originally Posted by hatelore bloodlust [You must be logged in to view images. Log in or Register.]

Umm no, the importance of gold as a standard for currency is because it is a precious metal and very rare to obtain. Please go to Wikipedia and read up on precious metals, if you would like to learn why it has been used for thousands of years as a major currency. Then come back here and attempt to edumicate us.

I understand you view this as a discussion, but it is not. I am not interested in your opinion.

[Alarti0001]

Originally Posted by Hitchens [You must be logged in to view images. Log in or Register.]

I understand you view this as a discussion, but it is not. I am not interested in your opinion.

Agreed if you only want to offer opinions as fact apply to Fox"news"

[hatelore bloodlust]

Originally Posted by Alarti0001 [You must be logged in to view images. Log in or Register.]

Agreed if you only want to offer opinions as fact apply to Fox"news"

oh wait a second, mister pot calling the kettle black. You are stating that all that gibberish you are typing are facts? You sure had me fooled...

[hatelore bloodlust]

Originally Posted by Hitchens [You must be logged in to view images. Log in or Register.]

I understand you view this as a discussion, but it is not. I am not interested in your opinion.

I think I explained in my last post where you can go to get your facts good sir. I am on a "not so smart phone" and really don't want to go look it all up for you. Read for once. It can change your life.

[Alarti0001]

Originally Posted by hatelore bloodlust [You must be logged in to view images. Log in or Register.]

I think I explained in my last post where you can go to get your facts good sir. I am on a "not so smart phone" and really don't want to go look it all up for you. Read for once. It can change your life.

You should prob stop reading, since you can't seem to distinguish between opinion and fact.

[hatelore bloodlust]

Originally Posted by hatelore bloodlust [You must be logged in to view images. Log in or Register.]

Umm no, the importance of gold as a standard for currency is because it is a precious metal and very rare to obtain. Please go to Wikipedia and read up on precious metals, if you would like to learn why it has been used for thousands of years as a major currency. Then come back here and attempt to edumicate us.

Furthermore, precious metals are vital in the production of all of our high tech technologies and gadgets. There is a reason that China is trying to buy up all of the gold and precious metals on the world market. And it is not to make fancy jewelry.