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Reply #20: You are forgetting one thing...China has more supply of labor [View All]

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Home » Discuss » General Discussion: Presidency Donate to DU
golfguru Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-02-10 07:33 PM
Response to Reply #10
20. You are forgetting one thing...China has more supply of labor
than any other country in the world. When labor supply outweighs
demand, wages tend to be diminished. The old law of supply & demand is working.

I have a friend in China who makes $50,000 per year and can afford to send her
son to an American University. She is an engineering graduate. SO not everyone
is making slave wages. Actually people with high skills are in high demand.
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  -Reagan advisor Arthur Laffer makes the most bogus claim ever in favor of Bush's tax cuts for rich ProSense  Aug-02-10 10:00 AM   #0 
  - Bullshit. Their stock and trade.  NC_Nurse   Aug-02-10 10:02 AM   #1 
  - So where are the jobs from the Bush tax cuts? Oh, that's right....  arbusto_baboso   Aug-02-10 10:02 AM   #2 
  - China has no tax on capital gains!  golfguru   Aug-02-10 10:36 AM   #9 
     - And they allow employer's to pay virtual slave-wages.  arbusto_baboso   Aug-02-10 11:22 AM   #10 
     - You are forgetting one thing...China has more supply of labor  golfguru   Aug-02-10 07:33 PM   #20 
     - Awesome, So we should be like China and Russia  Raine1967   Aug-02-10 11:49 AM   #15 
        - It'd be nice to get some economic growth like China  Common Sense Party   Aug-02-10 01:42 PM   #18 
        - We are talking about formerly communist/socialist countries  golfguru   Aug-02-10 07:27 PM   #19 
  - Why isn't the WSJ concerned that Laffer's theory has already been proven wrong?  tridim   Aug-02-10 10:04 AM   #3 
  - suggest replacing well-trained economists  BootinUp   Aug-02-10 10:07 AM   #4 
  - His graph indirectly illuminates the tremendous rise in inequality  BootinUp   Aug-02-10 10:11 AM   #5 
  - How long is it supposed to take for trickle down to trickle down?  tularetom   Aug-02-10 10:22 AM   #6 
  - Yes, you give the rich tax breaks and they just go out and create jobs whether...  ClassWarrior   Aug-02-10 10:30 AM   #7 
  - What none of these idiots can tell us is why are the rich corps not spending their money from these  Jennicut   Aug-02-10 10:32 AM   #8 
  - If the Bush tax cuts resulted in all these jobs, why is unemployment so high?  DrToast   Aug-02-10 11:25 AM   #11 
  - He's STILL making the same outragous claim!  Alcibiades   Aug-02-10 11:43 AM   #12 
  - Has he taken a look at the unemployment rate right now?  Raine1967   Aug-02-10 11:47 AM   #13 
  - Laffer is to Economics as Kangaroos are to Particle Physics.  Ikonoklast   Aug-02-10 11:47 AM   #14 
  - Laffer Is Not An Economist. He's A Paid Propagandist Posing As An Economist  Yavin4   Aug-02-10 12:01 PM   #16 
  - It's as if the last 30 years never happened.....  Jeff In Milwaukee   Aug-02-10 12:09 PM   #17 
  - He is correct in his way... though terribly wrong. The details matter.  Kurt_and_Hunter   Aug-02-10 07:44 PM   #21 
  - The problem is that this  ProSense   Aug-02-10 08:49 PM   #23 
  - If they'd been taxed correctly back then there wouldn't of been wild speculation with the excess  ProgressOnTheMove   Aug-02-10 08:38 PM   #22 
  - There is a reason supply side economics is known as the "laugher curve"  yellowcanine   Aug-03-10 11:00 AM   #24 

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