Where is the US economy headed?

I've already told everyone here I am on board for higher marginal personal rates, that is if all business and corporate income tax is eliminated. My first choice however is still the Fair Tax, a national sales tax INSTEAD of any income tax for anyone. It is fair and it taxes consumption instead of production, which would be infinitely better. We want to encourage production. That is what drives the economy.

http://www.fairtax.org/site/PageServer

okie, When are you going to learn that your ideas about taxation doesn't matter in the real world. We are discussing taxes for the rich to help pay down the the national debt. "That's" what the current politics is all about; not your creation of how taxes should work - in the real world we live in.

How about higher rates, and no elimination of corporate tax? That's what you should be for, because we are heavily in deficit and debt, and cannot afford to be cutting taxes on anyone right now.



The 'fair tax' is not workable with our current situation in the slightest. Just a right-wing wet dream.

Cycloptichorn

From the gutter to you ain't up.

If you really think a couple earning $250K are rich, you are drunk
on Oboy's Kool-Aid and you are suffering from lowered expectations.

You are an idiot following an idiot and being praised by an idiot.

..... "It appears unlikely that the policies proposed in the president's
framework would be sufficient to reduce debt to a manageable level,"



Budget Panel:
Obama Deficit Plan Saves Less Than Advertised

h2 Oboy says:



Considering that puts them ahead of about 98% of American families, yeah, I'd say that makes them rich.

I am curious as to whether anyone else here is closely following the decline of the dollar vs the "basket" of other currencies. It is a complex situation and, in my opinion, potentially rather dire.
This thread is, to say the least, largely drivel. Perhaps we can continue to talk about it here but I would also enjoy hearing from you via pm's with long and dry economic analysis.

rjb, I've been watching the exchange rates between the US dollar against the Euro, English pound, and Canadian dollar. The value of the US dollar continues to drop against those currencies, and wondered what's behind this depreciation.

I'm sure this isn't the only explanation, but it seems the Asian financial chiefs have been buying the Euro, because their interest rates are one of the highest - based on financial crisis of the Euro countries. The US is paying less than 4%, but the Euro countries are paying double that and more - with the potential that it will go higher.

Crazy world; the US economy seems to be improving, but that doesn't seem important in the world of money.

Has it occurred to you that the world of money relates to the economy? You live in fantasy land, ci. If we run out of money, thats the end of any economy. Your democrats have legislated and spent us into ruin for the past 80 years.

okie, How so? Please explain that to me, oh wise one?

For starters, Social Security and Medicare were and are Ponzi schemes. Madoff is in prison right now for doing the same thing. Where are the Democrats? Still getting votes from bozos like you.

Is not the US economic system a ponzi scheme?

That is different. Social Security and Medicare were supposed to be placed into funds as an insurance to be returned to the contributors.

Good grief, are the posters here so ignorant of how all of this crap was supposed to work, and how it was sold to the people? This forum is hopeless with the uninformed and ignorant.

Were they not placed into funds as an insurance to be returned to the contributors?
You will be taxed to make it good will you not?

There won't be enough money to support the promised benefits, so the programs will default. They will be broke. Just as Madoff could not count on enough new investors to pay out to his older investors, neither can the U.S. government count on enough economy and money to keep them afloat according to the contracts of the programs. They will have to alter the contracts and default on what was promised.

So you do see what is going to happen don't you! I do hope that you are a good okie farmer and that others will not come and take by force what they think they may need!

If they do, I think that it will be our fault for not loving them as our self!

We preach love but teach division!

CI: Some of the European economies are recovering well. Sales and wages are going up. The governments are worried about inflation so they are increasing interest rates. Money flows out of the U.S. to invest there. The dollar falls as a result.
Some pundits predict that the the dollar may fall another 5 or 7 % as our Fed keeps interest rates at near zero, hoping that that will stimulate job growth, but I don't see that happening. The "rich folks" are not creating new jobs.
The slumping dollar, meanwhile, could well lead to $5 gas this summer.

Gas is $.46/gal. in Libya. It was $.62/gal., but Gaddafi lowered it in hopes of getting the support of Libyans.

I've seen reports that it's already $5.00/gal. in the DC area....maybe headed for $6.00/gal. by Summer.

You're probably spot on; however, the US has invested in Europe and Asia for a very long time, as well as the other way around. As a world economy, living in isolation is the worst tactic to take.

I'm also not sure what the net money flows are between the countries, but we all know that most of the Euro countries are in no position to be investing in other country's economy. They're already struggling to meet loan payments which takes away from investing in their own country.

It's dire for many of them, and the stronger economies of Germany and France cannot prop up the rest of Europe on their own.

Aren't you a selfish pig!