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Old 06-11-2020, 12:24 AM
 
Location: Macon, Georgia
887 posts, read 352,243 times
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What does this mean for me a tax paying law abiding citizen in the country of the United States of America?
https://www.cnn.com/2020/06/10/econo...ing/index.html
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Old 06-11-2020, 03:16 AM
 
Location: Vallejo
15,380 posts, read 17,358,329 times
Reputation: 13824
That 0 percent isn't going away anytime soon.
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Old 06-11-2020, 03:17 AM
 
80,167 posts, read 78,518,791 times
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Quote:
Originally Posted by the tiger View Post
What does this mean for me a tax paying law abiding citizen in the country of the United States of America?
https://www.cnn.com/2020/06/10/econo...ing/index.html
the same as it always did ... pretty much nothing ...

as long as the interest is covered and the world considers us the best house in the worst neighborhood , the principal never needs to be paid ....

if you are an investor or contributing to a 401k you should do just fine ..

yeah , you have the dormers with their roman empire scenario but you would have been a whole lot poorer betting on that outcome all these years .
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Old 06-11-2020, 06:38 AM
 
2,600 posts, read 990,345 times
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Originally Posted by mathjak107 View Post
the same as it always did ... pretty much nothing ...

as long as the interest is covered and the world considers us the best house in the worst neighborhood , the principal never needs to be paid ....

if you are an investor or contributing to a 401k you should do just fine ..

yeah , you have the dormers with their roman empire scenario but you would have been a whole lot poorer betting on that outcome all these years .
Wealth taxes are coming, both state and federal. Twenty years ago a politician named Jessie Jackson proposed a “one-time” levy of 10% on all retirement accounts with the money going into the general fund to buy social justice. If the Democrats control Congress and hold the Presidency again, we could see similar proposals to raid the $trillions in savings (aka hoarded money) that are readily available. Nothing is sadder than a politician with no money to spend.
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Old 06-11-2020, 06:40 AM
 
80,167 posts, read 78,518,791 times
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Originally Posted by TimAZ View Post
Wealth taxes are coming, both state and federal. Twenty years ago a politician named Jessie Jackson proposed a “one-time” levy of 10% on all retirement accounts with the money going into the general fund to buy social justice. If the Democrats control Congress and hold the Presidency again, we could see similar proposals to raid the $trillions in savings (aka hoarded money) that are readily available. Nothing is sadder than a politician with no money to spend.
whether those taxes come or not is really not going to be dependent on the debt level
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Old 06-11-2020, 09:05 AM
 
10,547 posts, read 4,580,802 times
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Originally Posted by the tiger View Post
What does this mean for me a tax paying law abiding citizen in the country of the United States of America?
https://www.cnn.com/2020/06/10/econo...ing/index.html
If the Fed is monetizing debt then it means almost nothing to the taxpayer, unless the Fed goes too far with new money and aggravates inflation.

When the Fed buys the debt, almost all the related accrued interest is swept right back to the Treasury.
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Old 06-11-2020, 03:23 PM
 
Location: Heart of flyover America
643 posts, read 255,042 times
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"Stimulus" is the wrong term. It's really a sedative.

All the "stimulus" being pumped into the economy won't even present the illusion of a recovery like it did in the last crisis. This time, we'll just overdose on stimulus, and kill the dollar.
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Old 06-11-2020, 04:47 PM
 
12,244 posts, read 9,688,746 times
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Quote:
Originally Posted by TimAZ View Post
Wealth taxes are coming, both state and federal. Twenty years ago a politician named Jessie Jackson proposed a “one-time” levy of 10% on all retirement accounts with the money going into the general fund to buy social justice. If the Democrats control Congress and hold the Presidency again, we could see similar proposals to raid the $trillions in savings (aka hoarded money) that are readily available. Nothing is sadder than a politician with no money to spend.
Total nonsense. Now this is fearmongering. Maybe even a little racism. Funny how you mention Jesse Jackson when he hasn't been a player in a very long time.
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Old 06-11-2020, 04:49 PM
 
10,547 posts, read 4,580,802 times
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Originally Posted by charlygal View Post
Total nonsense. Now this is fearmongering. Maybe even a little racism. Funny how you mention Jesse Jackson when he hasn't been a player in a very long time.
It's not gonna happen. But there is no reason to take from the rich or taxpayers. Use Fed moneys.
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Old 06-11-2020, 05:02 PM
 
Location: Heart of flyover America
643 posts, read 255,042 times
Reputation: 1222
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Originally Posted by Hoonose View Post
If the Fed is monetizing debt then it means almost nothing to the taxpayer, unless the Fed goes too far with new money and aggravates inflation.

When the Fed buys the debt, almost all the related accrued interest is swept right back to the Treasury.
Government spending is always financed by taxation.

Either they take your currency or they take the purchasing power of your currency.
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