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Old 09-26-2017, 05:02 AM
 
Location: Washington State
15,355 posts, read 8,025,596 times
Reputation: 13158

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Quote:
Originally Posted by Larry Caldwell View Post
The reason the US economy is no longer serving the majority of its citizens is the endless wars we have been engaged in. Trillions of dollars that should have gone to investment and infrastructure has been squandered in other countries, leaving the US economy in nonproductive rubble. I had an economics professor 50 years ago who predicted it would happen. He was talking about Viet Nam back then. Bosnia, Iraq and Afghanistan were not even on the radar 50 years ago, but he was proven right.
While I agree that we are spending too much in wars as you mention, I note the following:

1) Much of the US is doing great from globalization
2) Much of the US has been hurt by globalization
3) We would have more money to spend on infrastructure that would benefit up if we weren't spending it elsewhere but that wouldn't resolve the problem for many that would still be struggling.
4) We need to focus on good education, training, prevent corruption, reasonable regulations to better all.
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Old 09-26-2017, 05:41 AM
 
Location: Fairfax County, VA
1,387 posts, read 601,424 times
Reputation: 2723
After years of "liberals" manning the bucket brigades all by themselves, the US economy can call itself an economy once again. This may not last with the foxes allowed back in the hen-house these days. Fortunately, nobody got eaten on Monday thanks to the let's-kill-health-care collapse, but there are likely to be even worse ideas coming along.
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Old 09-26-2017, 08:48 AM
 
2,731 posts, read 1,212,659 times
Reputation: 2089
Quote:
Originally Posted by mathjak107 View Post
for some the glass will always be 1/2 empty and the sky always falling .
For users having extra $ logos, everything is perfect.
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Old 09-26-2017, 08:59 AM
 
8,279 posts, read 3,454,476 times
Reputation: 1584
Quote:
Originally Posted by Larry Siegel View Post
The present value of your future taxes would be 15% higher.
My taxes haven't gone up since the Reagan years, and we all know that in his administration there were deficit spenders.

Why is that?

I'll tell you why. My burden is Federal income tax based on my income, not the national debt. Same as yours. Same as my kids.
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Old 09-26-2017, 09:10 AM
 
3,325 posts, read 3,260,957 times
Reputation: 8433
healthcare is consuming an enormous part of our GDP. Companies can't compete, because they have to build in the very high cost of healthcare for employees. In addition, our litigious society necessitates carrying expensive insurance to cover all the class action lawsuits, frivolous suits, etc.
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Old 09-26-2017, 09:19 AM
 
Location: Prepperland
13,116 posts, read 9,202,467 times
Reputation: 8988
Quote:
Originally Posted by Larry Caldwell View Post
The reason the US economy is no longer serving the majority of its citizens is the endless wars we have been engaged in. Trillions of dollars that should have gone to investment and infrastructure has been squandered in other countries, leaving the US economy in nonproductive rubble.
Ironically, a war (or unWar) is an ideal excuse for deficit spending. And if you read Title 12 USC sec. 411, you will understand why deficits are unavoidable.

FWIW - there have been no "dollars" in circulation since 1933. Dollar bills are IOUs denominated in dollars, but are DEBT (negative value). The only way to authorize more dollar bills is to [you guessed it] increase the DEBT.

To compound that problem is the usury attached to borrowing the federal reserve notes into existence, which obviously requires even more dollar bills to pay the interest due.

And even that is insufficient to generate enough dollar bills to ease the money drought.
What drought?
Classic eCONomics theory states that inflation is "too much money chasing too few goods."
But I sincerely doubt Bill Gates is bidding up the price for milk and eggs.

https://www.federalreserve.gov/faqs/currency_12773.htm
Q: How much U.S. currency is in circulation?
A: There was approximately $1.56 trillion in circulation as of July 12, 2017, of which $1.52 trillion was in Federal Reserve notes.

U.S. Population (2017) : 326,474,013
>>> $4,655 per capita <<<

Federal Budget (2017): $3.65 Trillion
<<< $11,180 per capita >>>

Where's all the money, honey?

If there isn't "too much money" chasing "too few goods" then perhaps we have been misled by Academians and Politicians.

Not only can we never pay off the public debt, all those outstanding debts and accounts receivable and pension plans and retirement accounts can NEVER be “cashed out” - there’s not enough money nor legal tender.

Why can’t CONgress deal with this madness?
14th amendment, Section 4. THE VALIDITY OF THE PUBLIC DEBT of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, SHALL NOT BE QUESTIONED.
Now you know why they’re SILENT on Capitol Hill.

< < > >
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Old 09-26-2017, 10:41 AM
 
6,153 posts, read 1,500,623 times
Reputation: 4483
Quote:
Originally Posted by GeoffD View Post
And replaced with what exactly? Bitcoin? The Won?
This is exactly what China and Russia want to happen, China wants their currency to be the global standard.

The US has enjoyed sitting at the top for years now, but history shows over and over that never lasts too long.
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Old 09-26-2017, 10:56 AM
 
11,313 posts, read 5,839,816 times
Reputation: 20965
Quote:
Originally Posted by Hoonose View Post
My taxes haven't gone up since the Reagan years, and we all know that in his administration there were deficit spenders.

Why is that?

I'll tell you why. My burden is Federal income tax based on my income, not the national debt. Same as yours. Same as my kids.
Not really. Your tax rate is what Congress votes in as your tax rate and the President signs into law. It unfortunately is completely decoupled from spending and deficit spending.

I've been a 5%er pretty much my whole career. My effective tax rate has dropped significantly since the early 1980's even accounting for the lifting of the income cap on Medicare payroll taxes. If you're teetering between the 28% bracket and 33% bracket, your effective Federal income tax rate is about 23% and that doesn't count being able to shelter thousands in a 401(k) and paying my part of my group health insurance premiums with pre-tax money.

The guys who get nailed are the self-employed people making about $125K. They pay both sides of payroll taxes. They don't hit the Social Security earnings cap where that goes away. Counting their self employment taxes, they pay a way higher effective tax rate than I do.
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Old 09-26-2017, 11:03 AM
 
8,279 posts, read 3,454,476 times
Reputation: 1584
Quote:
Originally Posted by rstevens62 View Post
This is exactly what China and Russia want to happen, China wants their currency to be the global standard.

The US has enjoyed sitting at the top for years now, but history shows over and over that never lasts too long.
So China simply needs to create the equivalent of $70T in Yuan and then disperse it throughout the world. Simple, quick and easy!
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Old 09-26-2017, 11:09 AM
DKM
 
Location: Thousand Oaks, CA
2,060 posts, read 671,463 times
Reputation: 2215
The money spent on the military goes right back into our economy. What do you guys think the money is spent on, bridges in Baghdad?
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