50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe

Europe's economy is in the tank. Last thing it wants is another burden in a form of taxation.

[quote="MugenOne, post:21, topic:200810"]
Europe's economy is in the tank. Last thing it wants is another burden in a form of taxation.

[/quote]

The European economy is in the tank because of dirivitives trading, debt they have issued and the unrealistic guidelines enforced on much smaller economies such as Greece, Portugual and Ireland (in regards to GDP) which is causing the Euro to tank.

However, but I assume that we have a trade deficit with countries such as Germany, France, Spain, Italy,Norway, Sweden to the tune of $222B (2009 numbers) is because of socialism?

[quote="Black_Rose, post:7, topic:200810"]
How would that solve significant problems or even identify the problems that the economy faces?

[/quote]

Paul Volcker managed to fix the economy back in the 80's. We're basically faced with the same scenario today. While you may not think so, Bernanke has printed enough money so that potentially you will have much higher prices and wages that won't be able to catch up, just like then. There is a growing school of thought that the lone blame for this depression is the Federal Reserve System, which caused bubbles and continues to find new bubbles. Naturally the bubbles eventually burst and we experience new bubbles and pops every day. Everything is basically overleveraged. Will Bernanke have the guts to tighten the money, reward savers (the real capitalists) with higher interest rates, and let the banks do their jobs without tempting them to invest in driving the price of oil and other commodities up.

Here check this out:

video.google.com/videoplay?docid=3051024550497129264#

[quote="josephdavid, post:16, topic:200810"]
I agree. But we must make sacrifices as all Americans (rich and poor). We did it in the 90's and had a great economy still. Clinton raised taxes and the economy still took off. The Republicans, Democrats and Clinton worked together to keep the budget balanced.

We could do it again.

1% sales tax is good idea, also a $1 charge per stock trade transaction, and national tax on intenert purchases. If small businesses are subject to local, state and federal taxes, why not internet purchases? Total internet purchases were in the billions of dollars. I was one of those internet shoppers.

[/quote]

It's not just a matter of taxation.

Greece is at least one object lesson in what can happen with entitlements, particularly when there are demographic changes.

For example, I know of a man who spent a number of years in the JAG corps. Never fired a shot in anger. Because he was politically well connected, he obtained a position as a bankruptcy judge. He put in one (rather short) term there, then went into private legal practice. So, upon retirement, he will get to "tack" his military time onto his judicial time and get benefits from both, plus maximum social security. And not a penny of it is funded by anything other than a charge on the taxpayers.

I know another guy who spent about six months on a state commission because he had political "pull". Because he could "tack" that time onto previous state time from years ago, gets a full pension at the commissioner level, plus, of course maximum social security, and none of that is funded either. By and large, governmental retirement and medical benefits are not funded at all.

Those are unusual examples, but there are plenty of them that are similar, both on the federal and state levels. As our population shrinks, which it surely will do, things like that become greater and greater burdens.

It now appears the government wants taxpayers to "bail out" union pension funds that were economically unsustainable in the first place. And, of course, the government is eager to put yet more and more people into unfunded positions.

There are many, many people who are just as talented and perhaps more productive as any of those, who are dependent on what they, themselves, managed through hard work and thrift, and after taxes, to lay aside for their retirement.

Raising taxes on those who pay their own way, without addressing the outgo to those who play the system, is grotesquely unfair.

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