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like magic math... the imaginary red line liberals want to paint for what is rich
taxes are based on household income
why always the discrimination from the liberals...tax the rich...what about fairness and equality
why the deception from the liberals...in the 1950's rich (top bracket) was household incomes over 380k...thats over 3 million in todays dollars...yet the liberals want to say 250k is rich???
a nassau county police officer(150k)((((a nassau police officer (regular PO , not a sergeant or a cpt) has a top pay after 6 years of 108k...the average PO makes 150k with basepay, overtime, and night dif ))))) married to a east meadow teacher (110k)...is rich??? so we are saying that a workingclass cop married to a workingclass teacher is rich, because their household income crosses some magical line in the sand...very silly if you as me
remember the AMT...it was another liberal answer to tax the rich...now the middleclass gets hit with it
do you really think that all americans are blind to this....they may have given Pres. Obama a second chance...but they are not going to like the liberal typical answer of ..."well...we were going to tax the rich, now rich is defined as anyone with a job
should a NYC garbageman (PC TERM :satitation worker)(defiantly workingclass )(((( Garbage collectors, or sanitation engineers routinely make over $100K per year in places such as Seattle & NYC, and have been for several years. ))))) 100k plus....married to a east meadow(Nassau county) teacher (110k)...be called rich??? so we are saying that a workingclass garbageman married to a workingclass teacher is rich, because their household income crosses some magical line in the sand
NYC bus mechanics make 45/hr...105k a year...plus overtime, night diff, etc
I am going to lay out my prediction of what will happen to America in the upcoming years. It's already started happening, but hasn't quite kicked into full-gear.
In short, America is going to get bought out, and the world economy will continue to grow, but 90% of Americans won't be a part of it, will be left behind and see their living standards sink to 3rd-world levels.
All the emerging markets that send us products for cheap in exchange for U.S. dollars won't need to sell us their stuff anymore because we'll be too broke to buy it. They can easily sell to citizens in their own nations, who will have gained a lot of purchasing power. Since all our factories closed down years ago and we have too many labor regulations to be able to be productive, the price of ordinary goods is going to skyrocket. Walking into WalMart's grocery section will be like walking into Whole Foods (maybe not in terms of Dollars, but certainly in terms of purchasing power. A month's paycheck for the average American will barely be able to buy enough food to fill a grocery cart).
What is America going to have to these nations that have been funding our artificially high standard of living and are now leaving us behind? Well, we'll basically have to sell ourselves out. It'll be like a giant repossession. All these Acuras and BMWs that we can no longer afford to drive will be getting loaded on cargo ships and sent back to people in the world who can actually afford them. The apartments and houses that Americans can no longer afford to live in will be bought by foreigners who will move here. Many of our major companies will be bought out.
The high-tech, economic hubs of the U.S. will continue to grow (Silicon Valley, Seattle, etc.) and there will be many other pockets of the U.S. will be unaffected economically. It will still be possible to get good jobs in the U.S., but it will be insanely competitive, kinda like it is in China and India today. If you're in the top 2-5% of intelligence and motivation level, you don't need to worry. The other 95-98% of Americans will have no useful purpose in the world economy, will basically sit around and do nothing because there's nothing to do, or will go around causing trouble, kinda like what happens in 3rd-world countries.
I've read some interesting responses. Here are my guesses:
1) The biggest change is the demographic changes going from a whiter European centric to a huge Hispanic & large Asian population. This will cause a shift in politics and I fear a greater acceptance of graft and corruption which is more acceptable outside of European ancestry nations. This will negatively impact economic growth and cause some political problems and a push for some states/Regions to separate from the USA and form they're own country.
2) So much depends on whether or not the USA is able to retain its technological advantage. IF yes, then there will continue to be a cluster of very wealthy areas such as Silicon Valley, Seattle, Boston, Austin, Raleigh but an even greater income equality resulting in tax policies closer to what is common in Europe.
3)The US role in policing the world will be challenged especially internally in the USA and the military budget will be reduced.
4) Of course, in the events of an all out war in this timeframe, all bets are off....I hope it never happens as the destructive capabilities in the world today are unfathomable.
The high-tech, economic hubs of the U.S. will continue to grow (Silicon Valley, Seattle, etc.) and there will be many other pockets of the U.S. will be unaffected economically.
That would be places like Houston. Energy still makes the world go around.
Quote:
Originally Posted by ORION83
Funny how that's the same time period the 50's that we taxed the rich well enough they couldn't buy the elections....hm heck of an idea! Oh and its also when corporations weren't known as people either so.
No, that's the period following the destruction of much of the rest of the world's manufacturing.
I guess WWII wasn't covered when you went to school.
I am going to lay out my prediction of what will happen to America in the upcoming years. It's already started happening, but hasn't quite kicked into full-gear.
In short, America is going to get bought out, and the world economy will continue to grow, but 90% of Americans won't be a part of it, will be left behind and see their living standards sink to 3rd-world levels.
All the emerging markets that send us products for cheap in exchange for U.S. dollars won't need to sell us their stuff anymore because we'll be too broke to buy it. They can easily sell to citizens in their own nations, who will have gained a lot of purchasing power. Since all our factories closed down years ago and we have too many labor regulations to be able to be productive, the price of ordinary goods is going to skyrocket. Walking into WalMart's grocery section will be like walking into Whole Foods (maybe not in terms of Dollars, but certainly in terms of purchasing power. A month's paycheck for the average American will barely be able to buy enough food to fill a grocery cart).
What is America going to have to these nations that have been funding our artificially high standard of living and are now leaving us behind? Well, we'll basically have to sell ourselves out. It'll be like a giant repossession. All these Acuras and BMWs that we can no longer afford to drive will be getting loaded on cargo ships and sent back to people in the world who can actually afford them. The apartments and houses that Americans can no longer afford to live in will be bought by foreigners who will move here. Many of our major companies will be bought out.
The high-tech, economic hubs of the U.S. will continue to grow (Silicon Valley, Seattle, etc.) and there will be many other pockets of the U.S. will be unaffected economically. It will still be possible to get good jobs in the U.S., but it will be insanely competitive, kinda like it is in China and India today. If you're in the top 2-5% of intelligence and motivation level, you don't need to worry. The other 95-98% of Americans will have no useful purpose in the world economy, will basically sit around and do nothing because there's nothing to do, or will go around causing trouble, kinda like what happens in 3rd-world countries.
Anybody that tells us what will happen over the next few decades is a fool .... well, except me.
All those charts showing China's economy surging past the US by 2030, or 2025, or even 2017, will look very credulous. China may not surpass the US this century.
China's output is 75pc of US levels on a purchasing power parity (PPP) basis but even on this measure the Chinese `sorpasso' is looking less certain. Clyde Prestowitz, an arch US `declinist' who has just thrown in the towel, says China may "never" catch the US on any relevant measure. That is a stretch, but not impossible on a forecastable horizon.
"Keep in mind the next time you are in China and find yourself choking on the foul air that the things making the air foul are counted as positives for GDP. If you adjust Chinese GDP for environmental degradation and for over-investment in things that will never be used, it falls in size by 30-50 per cent. Much of this would show up as non-performing loans in most economies but since such loans are never recognised in China, it will show up as slower growth in future years," he said.
A new view is taking hold in elite circles that the banking crash in 2008 was a nasty shock for the US, but not a crippling blow to America's creative enterprise. US governing institutions rose to the challenge. It was however a crippling blow to Europe, and a more subtle blow to China in all kinds of ways.
Richard Haass, president of the US Council of Foreign Relations, says the world may already be in the "second decade of another American century" without realising it.
I will take the positive high road for America! We will destroy our own selves with too much immigration and not enough work.
Funny how that's the same time period the 50's that we taxed the rich well enough they couldn't buy the elections....hm heck of an idea! Oh and its also when corporations weren't known as people either so.
Wrong. The rich were taxed at a level only slightly higher than today. Also there was much less of a federal gov't for the rich to purchase. There was no medicare, no Obamacare, no Dept of Education, Energy, or EPA. No Amtrak, no DHS, and no DEA.
Anybody that tells us what will happen over the next few decades is a fool .... well, except me.
What happens is going to depend on what policies are applied. Since we don't know what policies will be applied, anyone who believes they can predict what will happen ahead is just engaging in magical thinking.
I think we need to address our education system. We can't expect to remain top dog for long when we rank around 25th or so out of 65 PISA participant nations. Address education, and we will go a long way towards addressing the middle class slide.
I am a big fan and a follower of Mr. Jorgen Randers, He is a prefessor at the BI Norwegian Business School.
According to him,
1. He believes that China will be the world leader in year 2052 because China will have a population three and a half times bigger than that of the U.S. The Chinese economy will be nearly two and a half times larger, and the per capita production and consumption will be moreo than 70% of the U.S. equivalents. Therefore, China will be the premier driving force on the planet.
2. In the rich world, particularly, the first generation that has rung up a huge national debt and established a huge unfunded pension scheme is about to retire. He doesn't believe that the next generation will be willing to carry this burden and peacefully pay the debt and peacefully pay the pensions.
3. Future energy may be 30% more expensive than current fossil-based energy.
This is just my own humble opinion, I think we are in the midst of an ongoing economic collapse which is going to get much worse. When solid middle class in the 50s and 60s become the new "rich" and rest of the America want to tax them more, it is a clue that desperate people will do desperate things when economy is gone bad.
There were "mini-riots" in several U.S. states when "technical issues" caused the food stamp system to go haywire for a few hours.
What would have happened if there had been an extended outage or if the political crisis in D.C. had caused food stamps to be completely cut off at some point?
Let's be thankful that we did not have to find out.
I am a big fan and a follower of Mr. Jorgen Randers, He is a prefessor at the BI Norwegian Business School.
According to him,
1. He believes that China will be the world leader in year 2052 because China will have a population three and a half times bigger than that of the U.S. The Chinese economy will be nearly two and a half times larger, and the per capita production and consumption will be moreo than 70% of the U.S. equivalents. Therefore, China will be the premier driving force on the planet.
2. In the rich world, particularly, the first generation that has rung up a huge national debt and established a huge unfunded pension scheme is about to retire. He doesn't believe that the next generation will be willing to carry this burden and peacefully pay the debt and peacefully pay the pensions.
3. Future energy may be 30% more expensive than current fossil-based energy.
This is just my own humble opinion, I think we are in the midst of an ongoing economic collapse which is going to get much worse. When solid middle class in the 50s and 60s become the new "rich" and rest of the America want to tax them more, it is a clue that desperate people will do desperate things when economy is gone bad.
There were "mini-riots" in several U.S. states when "technical issues" caused the food stamp system to go haywire for a few hours.
What would have happened if there had been an extended outage or if the political crisis in D.C. had caused food stamps to be completely cut off at some point?
Let's be thankful that we did not have to find out.
You're probably right but; look at China's own "time bomb". The 1 of fewer and fewer young people doing work by 2052 compared to huge numbers of really old people who CAN'T do any kind of hard work anymore because their bodies and minds are just "worn out". IMHO China's future will be Japan and Japan is MUCH richer per person.
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