S & P Dire Warnings

[piece-itpete]

Originally Posted by Tom Joad

How about a reply to this one Pete?

This can be interesting: http://taxfoundation.org/article/wha...y-income-taxes

I don't think the rich have enough money to pay our debt, and even if they did it would soon be replaced as we spend a vastly larger amount of money than we bring in ('we' being the gov't).

The unholy terror:

http://www.usdebtclock.org/

Forget the 151k debt per taxpayer, check out the unfunded liabilities.

I'm not going to point fingers Tom, it's bipartisan IMO. I just don't see a way out of this one.

Pete

[Pio1980]

I know of no sustainable universal model for what we term "prosperity".

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[Tom Joad]

Originally Posted by piece-itpete

I don't think the rich have enough money to pay our debt, and even if they did it would soon be replaced as we spend a vastly larger amount of money than we bring in ('we' being the gov't).

They could make a serious dent in it.

But the big thing is if some of that wealth that they are hoarding in offshore accounts, or using to make speculative bets in the market were redistributed to the poor and middle classes it would stimulate the economy big time and then maybe some of that 47% of our people that can't earn enough to make it into the lowest income tax bracket would be able to climb up out of the hole to where they would be paying taxes too.

Think of it this way, what happens in a game of monopoly when one player piles up all the money and all the properties, and has hotels on everything?

That's what we are well on our way to today in America.

[piece-itpete]

Hey we agree on something, there should be strict enforcement of antitrust laws.

Pete

[piece-itpete]

Originally Posted by Pio1980

I know of no sustainable universal model for what we term "prosperity".

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We agree too

Unless we can get out into space!

Pete

[Pio1980]

Originally Posted by piece-itpete

We agree too

Unless we can get out into space!

Pete

We are in space, we just take our baggage with us.

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[bobabode]

Originally Posted by piece-itpete

We agree too

Unless we can get out into space!

Pete

You were born about five hundred years too early Pete. Better luck next time.

[BlueStreak]

Originally Posted by Tom Joad

They could make a serious dent in it.

But the big thing is if some of that wealth that they are hoarding in offshore accounts, or using to make speculative bets in the market were redistributed to the poor and middle classes it would stimulate the economy big time and then maybe some of that 47% of our people that can't earn enough to make it into the lowest income tax bracket would be able to climb up out of the hole to where they would be paying taxes too.

Think of it this way, what happens in a game of monopoly when one player piles up all the money and all the properties, and has hotels on everything?

That's what we are well on our way to today in America.

Game over, that's what happens.

Dave

[BlueStreak]

Originally Posted by piece-itpete

Hey we agree on something, there should be strict enforcement of antitrust laws.

Pete

Oooooo, you big government loving capitalism hater you!

Dave

[piece-itpete]

I think the wheeled one says about 200 years barring catastrophe In the meantime we keep rolling the stone upwards.

Pio, keep on truckin'

Pete