Global Economy Bursting?

[Riick]

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[Randolph Kinney]

Tax debates far from over

http://www.sfgate.com/business/networth/article/Tax-debates-far-from-over-4170270.php

Deductions and credits will be back under attack when Congress seeks ways to reduce the deficit before it increases the debt ceiling in late February.

 

[Terrel L. Shields]

The debates are idiotic. It's debating on how much milk a dead cow should have given if it has lived.

All taxes should be fee based or VAT. We didn't have an income tax 120 years ago, and didn't need it to fund government to that point, why now? It applied to perhaps 5% of the population when introduced.

SS and Medicare should be funded for the individual in individual accounts. Roads should be funded with tolls and fuel taxes. The entry fee at the national park should reflect the actual cost to maintain and run the place. A sales tax on mortgages and deeds could replace the property tax while sales taxes could cover personal property. A tax could be graduated with the first $20,000 of an auto purchase being say, 7% tax, with the next $10,000 being 9% and anything over $30,000 be taxed at 12%. The rich buy more, they would pay more. They buy expensive, then they pay accordingly.

 

[rrwolfpack]

These tax/entitlement/fill in the blank debates are just the beginning. The debt ceiling one will be the most interesting one this year because a failure would lead to another debt downgrade which would raise interest rates on debt. That is something the government does not need on its plate. Like with the fiscal cliff band aid deal, they will take every minute possible to debate the subject then eventually come to agree on another band aid deal with more kicking the can down the road.

 

[Riick]

eventually come to agree on another band aid deal with more kicking the can down the road.

Well sure, kicking the can down the road has worked for Europe for the last two or is it three years?
Besides how can you expect these pantywaists and children to step up to the plate and DO something.
Heck they might offend someone, and not get reeee-eeee-lected

 

[rrwolfpack]

You have made some valid points Riick, Europe is still in a huge mess but the main difference between the US and Euro debt is the number of opinions. Here we have Democrats and Republicans plus subdivisions in the parties. Across the pond there are 30 countries plus parties for each country expressing their opinions on what to do which is why hardly anything can get done.

 

[Terrel L. Shields]

Europe's main problem is pitting prosperous N. Europe against not so prosperous S. Europe and virtually all those countries debt to GDP ratio exceeds Euro standards. These oxen are unequally yoked.

 

[Big ole Boy]

The Euro was an idea ...

The Euro currency was a long dinner table dreamed up by bored aristocrats and fledgling lawyers who became bankers ....

 

[EDWARD BERRY]

With $12,000 Down, 20 Years Ago, I Have A Rental That Pays More Than My Ss.

Now The Medicare Part Is A Different Story, But There Are Heath Care Pland Out There That Compare To What The Guberment Is Paying For Them.

 

[Randolph Kinney]

California has fewer kids, more elderly

http://www.sfgate.com/news/article/California-has-fewer-kids-more-elderly-4178003.php

The number of children in California is on the decline, the number of elderly is on the rise and fewer people are moving to the state, according to a new report that argues the state will have to rely on fewer people to prop up its economy in the future.

"We're shrinking our base while we're growing our top, and that's not sustainable," said Dowell Myers, the author of the report and a professor at the University of Southern California Price School of Public Policy.