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Congress Sells America Down the River to Avoid the Fiscal Cliff


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Earnest N. Dever

USA could balance the budget by implementing a national sales tax or VAT and increasing taxes on booze, smokes, and guns. Lots of countries in Europe and Asia have those taxes, even Canada. But the political will isn't there.

 

And most of those countries in Europe are broke or well on their way to being broke. We in the U.S. don't have a revenue problem, we have a spending problem as we now borrow 40 cents of every dollar we spend.

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we need to solve the problem of .. when ever the government takes in more money they want to spend even more money   like many problems it needs to be attacked on two fronts..   like most problems

A lot of people are gonna get hurt when the USD gets put in the toilet and is no longer the reserve currency of the world. Any other country in the world cannot spend borrowed money the way the USA d

i worked in a place once where we got a new manager and the first thing he did was move everything from one side of the warehouse to the other .. just reversing where everything was   then about 8

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the.lone.gunman

And most of those countries in Europe are broke or well on their way to being broke. We in the U.S. don't have a revenue problem, we have a spending problem as we now borrow 40 cents of every dollar we spend.

Half the country (D) says revenue problem, the other half ® says spending problem. Hence : fiscal cliff. The next fiscal cliff will be in March.
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Earnest N. Dever

Half the country (D) says revenue problem, the other half ® says spending problem. Hence : fiscal cliff. The next fiscal cliff will be in March.

 

I agree, those paying being 1 half and those taking be the other. Unfortunately we are soon reaching a point where we have more takers than makers.

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smokey

I agree, those paying being 1 half and those taking be the other. Unfortunately we are soon reaching a point where we have more takers than makers.

 

 

 

well then shut down the FREE trade act sure TV and Toyota will cost more but problem solved if you cant afford a toyota guess your stuck with a ford.

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Earnest N. Dever

well then shut down the FREE trade act sure TV and Toyota will cost more but problem solved if you cant afford a toyota guess your stuck with a ford.

Not sure I follow your logic. Please explain how shutting down free trade solves the problem of borrowing .40 cents of every dollar we spend. Secondly, are you suggesting we lower our standard of living to accomodate wreckless and wasteful spending by government?

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smokey

Not sure I follow your logic. Please explain how shutting down free trade solves the problem of borrowing .40 cents of every dollar we spend. Secondly, are you suggesting we lower our standard of living to accomodate wreckless and wasteful spending by government?

 

 

 

no i am suggesting taking back a few million jobs that went overseas so corp butt wipes can fly to europe on a lear jet to get a massage and say its a business expense.

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Earnest N. Dever

no i am suggesting taking back a few million jobs that went overseas so corp butt wipes can fly to europe on a lear jet to get a massage and say its a business expense.

 

The worst thing about taking back millions of overseas jobs is that it would increase the cost of the items these overseas jobs produce, thereby pricing many items out of reach of millions of ordinary Americans and thus lower the standard of living. Those who rise to the top will continue to do so no matter how many restrictions are imposed on them, so there will always be those who are able to fly in corp. jets and get manicures. The only difference is that by eliminating free trade we will pay a much higher price for goods produced here and we will drastically reduce our exports as those free trade countries no longer have the money to buy American products and technology.

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tom_shor

USA has 15 trillion yearly GDP.......a 10% VAT would cover the budget shortfall of 1.5 trillion..........even with a combined federal and state tax of 18 to 20% it would be in line with other G-7 countries like UK 20%, Germany 19%, France 19%, etc.

http://www.worldwide-tax.com/

 

When it comes to taxes the US doesn't want to be in line. Americans don't like taxes. Never have. That's what started the whole 1776 thing and our attitude has not changed in that regard.

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tom_shor

we need to solve the problem of .. when ever the government takes in more money they want to spend even more money

 

like many problems it needs to be attacked on two fronts..

 

like most problems the government will attack on one or less fronts sometimes even added a third front that wasn't there to being with to also ignore

 

Perhaps a rule that any budget overages come out of congressional salaries and benifits first.

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tom_shor

They have to reduce spending but what do they reduce? Social security for the elderly? Medicare? Unemployment benefits? Farm subsidies? Education? Food stamps for the poor? Or just cut everything by 10% across the board ? Or just keep borrowing more and more money and piling on debt for future generations ? A lot of people are gonna get hurt.

 

They could start with the many millions they give away to people who don't even like us. We should quit trying to buy friends and use it for what we need. It's not enough to cover the whole deficit but it would be a start(And for the taxpayer a painless one) .

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tom_shor

Cutting the 525,000,000,000 dollar defense budget would help.

 

Our navy is bigger than the next 13 biggest navies combined and yet we keep churning out 11 new ships a year. WTF?

 

Huge conventional forces are unnecessary in todays world.

 

Peddle that soap to the Chinese and the Russians.

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tom_shor

There is no way I am selling my gold or silver until I see a gold standard

 

I bought lead and food. If things really do collapse I'll have all the gold and silver I want.

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tom_shor

Even the so-called 40% ownership is a perception that can easily be interpreted differently. What is very clear to anyone with a brain is; there is no such thing as ethical practices here.

 

The industrial revolution missed its target. There is no vehicle manufacturing here - simply foreign vehicle assembly. Okay they make jeepneys - but that is not an export. No ship building on any scale. No aircraft manufacturing. Not even railway, though that might just be because of the geography. The biggest single export is people!

 

All that is left here is the remnants of a Spanish colony, with powerful Spanish families still running the place.

 

Well they did have a railway but someone important invested in buses so away it went.

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tom_shor

The worst thing about taking back millions of overseas jobs is that it would increase the cost of the items these overseas jobs produce, thereby pricing many items out of reach of millions of ordinary Americans and thus lower the standard of living. Those who rise to the top will continue to do so no matter how many restrictions are imposed on them, so there will always be those who are able to fly in corp. jets and get manicures. The only difference is that by eliminating free trade we will pay a much higher price for goods produced here and we will drastically reduce our exports as those free trade countries no longer have the money to buy American products and technology.

 

Gee about the same percentage of Americans could afford these things before they had their jobs shipped overseas. With better quality too so you didn't need a new one every year.

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Earnest N. Dever

Gee about the same percentage of Americans could afford these things before they had their jobs shipped overseas. With better quality too so you didn't need a new one every year.

 

I disagree that the same amount of Americans could afford these things before. We used to have 1 t.v. per household, now with the low cost we have multiple tvs per household. We used to have 1 car per household, now we have multiple cars. We used to have 2 pairs of shoes, now we have shoes for every occassion. I could go on and on about how we now have much more "stuff" as a result of world trade. I think the rapid expansion and development of storage facilities speak to that, also I think the quality of overseas goods is the same as U.S. goods, you get what you pay for.

 

The final point I will make is we no longer have the manufacturing base to manufacture these goods. We destroyed our manufacturing base with incessant demands for higher wages and allowing our elected officials to implement more and more restrictions on manufacturing. To put it simply we priced ourselves out of the market.

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