Obama to propose $1.5 trillion in new tax revenue
- Thread starter Locutus
- Start date
If you do not live or work in the United States, what does it matter to you who or who is not to blame. If you can find the individual who actually started this mess, then we can have a good old fashioned hanging. Playing the blame or hindsight game does absolutely no got. What is out best course of action now? OK, making everyone pay their fair share of taxes is a good start.
What is a "fair share of taxes"? There should be a limit to what one person can be assessed. Perhaps anyone who is paying $100,000 a year should be left alone after that.
That is about how it is here.
But they need more stuff! The rich have stuff... why can't they have just as much stuff as the rich? Why should the rich have all the cool stuff? It's... It's... it's just not... fair.
The rich are the rich, and the poor are the poor and the middle class are the middle class.
And the $4 trillion debt is the $4 trillion debt.
And in 2016 China's GDP will surpass the U.S. GDP, while we continue to bicker about the above.
And the $4 trillion debt is the $4 trillion debt.
And in 2016 China's GDP will surpass the U.S. GDP, while we continue to bicker about the above.
Last edited:
It will be interesting to watch China's evolution. As it stands, the USA is their biggest customer, so the Chinese fortunes are directly tied to the health of the US economy.
A fun little catch-22
A fun little catch-22
I keep hearing about how well the Chinese economy is doing.. and how poorly the Americans are doing.. so that doesn't really check out cap.
Last edited:
I should have worded my comment differently... You have to bear in mind that the 2 nations are (to a degree) mirror images of each other. It would be an over exaggeration to state that the Chinese economy is doing poorly, but it has slowed down a bit due to the lower demands placed by the US consumer... That said, you won't see anywhere close to the same crisis levels in China simply because the country has no debt - hell, they have been loaning the US lots of $$ over the last 20 years, not to mention buying up resources in Canada, Africa, South America, etc..
These guys have lots of cash in hand to weather any storm.
These guys have lots of cash in hand to weather any storm.
Well that's just it.
While we're using our GDP to pay off our debt, they'll be shooting up revenues.
While we're using our GDP to pay off our debt, they'll be shooting up revenues.
We've seen similar trends in the past with West Germany (back when they existed) and Japan. Both nations went on global spending sprees and lead the pack on a GDP basis... Only time will tell if the Chinese go down that same cyclical path.
Personally, the easiest way for me to get a handle on which nation is at the forefront is as easy as a trip to Banff. Which ever language is predominant on the touristy shops (especially the jewelery places) is the top dog of the day.
Personally, the easiest way for me to get a handle on which nation is at the forefront is as easy as a trip to Banff. Which ever language is predominant on the touristy shops (especially the jewelery places) is the top dog of the day.
Starting at say $35 - 50,000+ per year a straight 15-20%, no deductions (people like Buffet would pay a tax based upon what they make like everyone else). I am in favor of the flat tax idea. For those making below $35-$50 thousand 10% or less would be fair. Of course all the little extra taxes the government charges us will have to stop.