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Greece has announced new austerity spending measures in response to their financial crisis. The measures have been lauded by the EU as a means of stabilizing the greek economy.
With rampant federal spending in the US and the spectre of increasing debt into the future, perhaps the US should consider austerity measures at this time and avoid "crisis management" measures. Our situation can only end badly, but there does not seem to be the foresight or political will to be able to enact measures to avoid a situation similar to what is occurring in Greece.
The only austerity measure I would approve is a Federal property tax on all possessions including financial investments valued at one million dollars or more. This money could be used to cancel most of the debt and prevent a collapse of our economy.
The only austerity measure I would approve is a Federal property tax on all possessions including financial investments valued at one million dollars or more. This money could be used to cancel most of the debt and prevent a collapse of our economy.
People will liquidate their holdings overnight and you can't make it retroactive.
Then the tax will be directly applicable to their money.
Geez, then they buy something like Perth Mint gold certifications outside the jurisdiction of Uncle Sam and demand delivery outside the US. Where there's a will, there's a way.
I wonder how our huge debt compares with their huge debt.
Some people believe our government can go on spending and borrowing like a mad man forever. They believe no government debt can possibly ever be too much.
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