Sertorio wrote: ↑
Thu Jan 25, 2018 4:11 am
cassowary wrote: ↑
Wed Jan 24, 2018 4:52 pm
neverfail wrote: ↑
Wed Jan 24, 2018 12:14 pm
CASS; did you actually read sertorio's post? He stated unequivocally that the Portuguese economy is growing faster than at any time this century (2.5%).
and you did not contradict that.
Clearly the higher taxes on the rich in Portugal have not stifled growth there.
I did not reply because I know almost nothing about insignificant Portugal. It will probably require two hours of research before I can give a good reply.
You did not reply because you couldn't. "Insignificant" Portugal has proven you wrong, and that bothers you. Because you are never wrong...
I have been trying to teach you some economics, but you are not willing to make the effort to understand what I am saying. You may have a degree in economics (do you?), but all you have learned are clichés. You have no idea of how economic variables relate to eachother, and can't tell what output comes from any particular input. Replacing knowledge with mantras does not lead to acceptable arguments.
OK. I will now reply. I did some research and this is what I found. One swallow does not make a summer, Sertorio. You just had 2.5% GDP growth, the fastest this century. But this is rebounding from a terrible recession. I suggest you look at how your country did over a longer period.
Portugal's GDP growth rate
The Portuguese economy advanced 0.5 percent on quarter in the three months to September 2017, unrevised from the preliminary estimate and following a 0.3 percent expansion in the previous period. Household consumption was the main driver of growth while fixed investment contracted and net external demand contributed negatively. GDP Growth Rate in Portugal averaged 0.40 percent from 1988 until 2017, reaching an all time high of 3.30 percent in the fourth quarter of 1990 and a record low of -2.60 percent in the first quarter of 1991.
Your average GDP growth is a scelerotic 0.4% over the long haul. See what Socialist policies (ie high governmennt spending and high taxes) got you?
Now let's see what a strongly capitalist or right wing economy can do over the long haul.
Singapore's GDP growth rate
The GDP in Singapore advanced an annualized 2.8 percent quarter-on-quarter in the last three months of 2017, below 9.4 percent in Q3 and market expectations of 2.9 percent, advance estimates showed. GDP Growth Rate in Singapore averaged 6.77 percent from 1975 until 2017, reaching an all-time high of 37.20 percent in the first quarter of 2010 and a record low of -13.50 percent in the fourth quarter of 2008.
Singapore's average GDP growth rate was 6.77% over the long run. See the difference low taxes and government spending can do? In the end, people are better off with a capitalist economy than a Socialist one.
Do you want to compare other indicators? Say health care? Let's see who is healthier.
Life Expectancy table
See? Singaporeans live longer than Portuguese people by a full 2 years. So, capitalism has provided people with better health care.
Capitalism growths your wealth faster and so you can afford better health care.
By they way, I don't have a degree in economics. But I have a masters in Business Administration.