F.C.C. Repeals Net Neutrality Rules [A real thread]

[Potjeh]

This administration? It's been all about corporations at least since Reagan, if not before.

[MagicManICT]

I won't say you're wrong, Potjeh... I don't necessarily completely agree with the statement, either. It just reads a little too superlative and absolute.

Otherwise, I'd say back to Nixon at least, and possibly Truman, are where the current policies started forming up. The current right fiscal movements really got starts in the 60s, though, based on economic philosophies postulated the few decades before. But I can't say even G. W. Bush was this right on fiscal policy, and that was with waging wars in Iraq and Afghanistan, dealing with the fallout of 9/11, and furthering policies that lead to the housing bubble bursting.

[Potjeh]

Bailing out banks and letting people go bankrupt is about as right as it gets, and IIRC Obama did that. He also did absolutely nothing to close tax loopholes, so the effective corporate rate for many big players was the same as in this new tax system - zero. So yeah, I don't see things going more to the right on economic issues because they're already at max right. Already both parties are all about trickle down.

[MagicManICT]

NOT bailing out the banks would have turned what was a mild depression into something we hadn't seen in 80 years, if not worse. Those eight or so banks managed about 80-90% of the world's wealth. Compare that to the 1920s where there were a lot of banks and wealth wasn't that anywhere near that centralized. The circumstances were significantly different, though.

[Potjeh]

That's just kicking the can a bit further down the road. Bailout just tells the banks they can be as irresponsible as they want. And they're only going to get bigger in the future, so averting depression today just means an even worse depression tomorrow. The house of cards has to come tumbling down eventually.

[shubla]

He also did absolutely nothing to close tax loopholes

I doubt theres much point in attempting to close them.
Big corporations will just find another way to circumvent them.
Closing them costs a lot, lot of money due to all bureucracy involved in it.

[MagicManICT]

There's not an economic system in work today that is viable long term. There's currently the rich countries, the poor countries, the rich in each country, and the poor in each. Personally, I'd have liked them to let the greedy bastards gut themselves over such stupidity. It's economic Darwinism, but we can't because we propped up such stupid, morbidly obese entities to the point we can't let them die. And yet nobody anywhere in the world is doing anything to correct the problem that I can see.

[Potjeh]

Not really a major economy, but Iceland seems to have done fine letting the banks fail.

[MagicManICT]

Yeah. Maybe there is a lesson to be learned there.