Saturday, April 18, 2009

Tax Rhetoric Vs Reality:" Lingonomics" again?

USA Today,April 17, 09 on page 8A:

It is unsustainable for the natin to continue spending for more than it is taking in, a mismatch perpetuated by both parties,i.e. Republicans and Democrats.

A new Gallop Poll shows that most people think they pay about the right amount of taxes.

The tax code is absurdly complicated and riddled with favors to special interests so President Obama is on the right track to Congress to make changes before end of this year.

Business Week, April 27, 2009 issue front cover: What Good Are Economists,Anyway?

There is no exactitude for predictiojn.

Page 006: China purchase revved, up again as the trade surplus jimped to $18.6 billion in March from $6.8 billion in February 2009.

Page 012: Larry Summers and President Obama have positive scenarios as evidence of political necessity of "Lingonomics."
Page 028,030,031: Scholar Nassin Taleb sayss s"We have to build a society that doesn't depend on forecasts by idiotic economists. I sent my blogs repeatedly to cite Professor John K. Galbraith. "There are those who don't know and those who don't know they don't know. re economic forecast.

Paul Widmoelt" a quantitative finance expert says:"Economists' models are just aweful,they comletely forget how important the human element is"

As I sent my prior blogs,behavioral economics is significant to economic growth since human beings are the ingredients in any human society relating to the lifestyles of the folks in nations. Moreover,Lingonomics must be taken into consideration since language is the means of communication in Lingonomics. I did compare note with Arthur F. Burns re Humanpower policy because fiscal policy and monetary policy cannot operate in a vacuum. Human lifestyle is most important to a nation for positive or negative scenarios.

Francis Shieh aka Xie Shihao,a lifelong student to study human behavior since my arrival in the United States in 1947 but I am still searching online...

April 18, 2009 at 3.26 p.m.
There is no clear-cut answers to macroeconomic problems such as inflation,unemploment,fiscal policy,monetary policy ands economic growth.

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