The 1st shoe about to drop with unemployment.

[Small Biz Owner]

Apparently no new money has been alloted for continued unemployment benefits with the recently signed debt limit bill.

States counting on Federal help, all 50 of them, are now on there own. They are responding by slashing unemployment even shorter than the current 26 week standards.

Artificial Government economic stimulus is coming to an end.

Florida has enacted changes that are "among the deepest and most sweeping cuts." Starting in January, the number of weeks a person can collect benefits will be based on a sliding scale, with a maximum of 23 weeks.

In Michigan, Missouri, and South Carolina claimants will only be able to take 20 weeks of benefits.

www.reuters.com/article/2011/08/03/us-usa-states-jobless-idUSTRE7725Z520110803

[Small Biz Owner]

Seems that the 99 week unemployment benefits, and longer in some cases, is coming to an abrupt end. With less money being diverted from the Federal Government into the economy with unemployment benefits another wave of financial defaults is expected.

[Small Biz Owner]

[lifewasgood]

Small Biz,

More layoffs are coming, protecting employees is getting tough as spending has nearly dried up. Folks are buy necessities and that is about all they can afford right now.

[lifewasgood]

No reform until the Financial System is completely overhauled including backing the currency with something of value, such as gold and silver. Without the basic foundation reforms of the Federal Reserve system and fractional reserve banking practices, fixing the tax system does little to solve the fundamental problem. "MONEY"!!!!!!!!!!!!!

[Aman A.K.A. Ahamburger]

Aug 4, 2011 9:27:57 GMT -5 @wxyz said:

I dont want to hijack this into a political thread, but the entire political system is broken down due to the incompetence and idiocy of the people camping out in those jobs from both parties.

We know what worked in the Regan era, we know what is currently working in Canada. I dont care what party they are get off your ass and..

1. Reform the tax system and drastically cut the tax burden and rates.
2. Cut the capital gains rate back to 5% or 10%.
3. Slash the corporate tax rates.
4. Slash the rate to repatriate all the foreign funds.
5. Deal with all the idiotic foreign trade policies that favor our so called partners around the world.

We have tried all the stimulus and Kensian BS and everything else that "they" thought would work. If for no other reason than your own political self interest try something new and different. Especially those things that have been shown to work in the past.

There is nothing too political about that. IMO. That sounds like the perfect plan. It's called no more spending boys and girls on Capital hill, we know it's the businesses that will help us forward.

[smackdown]

"We know what worked in the Reagan era...
1. Reform the tax system and drastically cut the tax burden and rates.
2. Cut the capital gains rate back to 5% or 10%.
3. Slash the corporate tax rates.
4. Slash the rate to repatriate all the foreign funds.
5. Deal with all the idiotic foreign trade policies that favor our so called partners around the world."

Let's get several things straight... we are HERE and IN THIS MESS mainly because there WAS a Reagan Era. The Tax Reform Act turned your house into an investment vessel, opened Pandora's Box on Big Business Tax Write-Offs and reduced Consumer Write-Downs to just mortgage interest (on homes worth more than what is owed on them). He applauded "down-sizing" and failed to act on the attack on promises made by business. He was a Big Spender on things like guns and training for Osama bin Laden. Here are MORE INTELLIGENT reforms:

1. ONE national tax on anything our currency purchases. That means anything sold has a UPC.
2. Replace the IRS with a Debits & Credits Authority that eliminates Dark Pool monies and keeps our currency integral.
3. Require EVERY non-Founder owned and operated business to be purchased by it's Board and Officers. Reform "incorporation".
4. Invoke Template Law which mandates a single format document for common legalities (relationships).
5. Require all lawyers to register in the County they live in. Require all legal matters to be registered with the County and Random Number Selection only for representation. Make it ILLEGAL for anyone to consult with, employ or retain lawyers outside this system.
6. Eliminate Inheritances. Like corporations, there is only asset-purchase. The cash is a component of the value. It's currency-- spend it.
7. Make the Erg, or Work Unit the Index for our currency. The amount of it is wholly aligned with the Gross National Payroll. It holds inflation in check and prompts us to rehabilitate assets instead of letting them regrade in blight. It prevents entitlements to the non-working and opulence for wealth.
8. Eliminate Banks altogether. Fracture the Financial Sector so that no one part has any possible leverage over another and cooperation is essential.
9. Make it illegal to get paid for financial recommendations of any kind. No brokers, no analysts, no CFOs.
10. Balance Ecology with Economy.
11. Create a single non-renewable 7-year term for politicians. No more than 3 offices in a lifetime. Make all laws have a 5-year expiration date.
12. Reform the campaign to vote system, abolishing the Electoral College. If you would run for an Office, you fill the blanks in on a validation form and allow your answers to be audited or notarized. If you win and renege on pledged actions, you are fired and the process is revived to replace you. A board (like a jury) is selected to audit your form, like lawyers, they are randomly and temporarily chosen and paid a fixed rate for service.
13. Remove all personal information from the Internet. Redo the Social Security - Personal Identification and Information system entirely.
14. Require the Technology Sector to create Safety Vehicles for online travel. Hold them as accountable for our safety as we do for other vehicles.
15. Fire the current Supreme Court and replace it with better people who know the difference between an entity and a person's Rights and Freedoms.

[smackdown]

If the Capital Gains Tax was 110% this year, I wonder if we'd have "instant" recovery? Ya think?

[decoy409]

Smal Biz Owner, "States counting on Federal help, all 50 of them, are now on there own. They are responding by slashing unemployment even shorter than the current 26 week standards."

That is how it is designed and writ up,'all 50 of them, are now on there own.'

What you see is the 'dry up.' That is what has been going on the whole time along. It has been hidden quite well for the most part and the controlled media has played a vast role.

[smackdown]

"I think if you had a 110% capital gains tax, no one would ever buy a piece of property or stock ever again."

As a blind investment (gamble), yes. For the purposes they were created and intended for, no. A home is a home if you live in it. A stock is a stock if you work for the company or believe in the product it makes. A 110% Capital Gains tax ends irresponsible speculation. Are you against that?

[smackdown]

It's actually about it circulating. When it isn't, it stops being currency and starts being an impediment.

[smackdown]

"How about the FED giving each person in the United States $100,000.00 of the money they've been printing up to spend as they see fit? I'd think that would be better than "The Plumber's Helper" in freeing up the economy, eh?"

It certainly would spur competition again-- the core driver for a recovery. Sure, some would blow it, but given the 3+ years of stagnation we endured so far, a good many would be more cautious with every penny. How about a program that trades real dollars for home improvement receipts? There was a great deal invested in improving homes before the value collapse. That places cold hard cash in responsible hands and tells squatters who used their hyper-equity to buy toys to grow up.

I have a terrific business plan for a great alternative business. If there was more street cash starting all sorts of ventures, we'd be weaned off gasoline pretty quickly and likely challenging stalwart "control" businesses like coal-energy plants and making new cities with housing that covers some or all of it's own energy costs. There are MILLIONS of opportunities stalled while this group of dud money grubbers hoard and control the currency.

[Small Biz Owner]

We had an great looking applicant come in and tell us that unless we were able to pay her more than she was getting on unemployment, she wouldn't take the job.
Needless to say she wasn't hired. I wonder now if she'll be back in to reapply.

Not just her, I think you will be finding a line of applicants. I sure have seen an increase in the past 2 years.

[bga4444]

VL, I love it! 2012 a one year 110% capital gains tax. National debt solved!! Recession solved! Too damn funny!!! VL for president!

[inhouston]

I agree, but believe that most wouldn't last a day doing this kind of work.

When the choice becomes: Homeless / starvation
(or)
Manual labor: with food / shelter

People may adjust expectations.

**Note: Just in the news - caught this on my flight yesterday...
Michigan is ending welfare at 4 years now.

Mich. governor signs 48-month welfare limit - chicagotribune.com
2 days ago ... Gov. Rick Snyder on Tuesday signed into law a stricter, four-year lifetime limit on cash welfare benefits

[smackdown]

"**Note: Just in the news - caught this on my flight yesterday...
Michigan is ending welfare at 4 years now."

1 in 6 here rely on food stamps. Snyder's goons stole the recall signatures a few weeks back. There's actually a bumper sticker here now that reads: Here's my Recall Snyder signature. If you haven't figured it out, Michigan is supposed to be the new playground for smart folks. They want to make fresh water the next commodity. The trouble is- those of us born here aren't leaving no matter what they do. You don't need a wage-earner job to survive here but when those exist, we create enough of an economy to share with the rest of the nation. Re-route that to Texas and the rest of the states get-- poverty. Figure it out, America.

[lifewasgood]

BofA discussing about 40,000 job cuts: report
finance.yahoo.com/news/BofA-discussing-about-40000-rb-3979901818.html

Is this real or just a threat to force better banking deals and QE3.

Remember the McDonald's story, first waiver from Obamacare and then announce creating 50K jobs.

[kman]

Make small and medium size business..unchained and rich....you win..we all win.

[lifewasgood]

Make small and medium size business..unchained and rich....you win..we all win.

Yup, because we are hungry and want to thrive, which translates into growth and jobs.

[smackdown]

"Make small and medium size business..unchained and rich....you win..we all win."

If it isn't run by the Founder, let it flounder. I'm with you. Tax imports and hired-in executives to the hilt. Eliminate special compensation for anyone who ultimately is a wage-earner unless they founded the business. How do we dig ourselves out of this hole we're in? Offer all existing big businesses to the hired-in executives and Board directors-- based on the asset and brand value. They can buy it if they qualify for the credit or it gets liquidated and assets are offered to American Citizens. End privilege and old money-- those are Old World cancers.