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Originally posted by jprophet420
heh, if we collected our debts it would nullify the debt, and be considered and act of war.
It is quite ironic: only a decade or so after the idea of the United States as an imperial power came to be accepted by both right and left, and people were actually able to talk openly about an American empire, it is showing multiple signs of its inability to continue. And indeed it is now possible to contemplate, and openly speculate about, its collapse.
The neocons in power in Washington these days, those who were delighted to talk about America as the sole empire in the world following the Soviet disintegration, will of course refuse to believe in any such collapse, just as they ignore the realities of the imperial war in Iraq. But I think it behooves us to examine seriously the ways in which the U.S. system is so drastically imperiling itself that it will cause not only the collapse of its worldwide empire but drastically alter the nation itself on the domestic front.
Collapse of the American Empire
Among those still interested in fiscal sanity, and that includes quite a few Republicans, I bring your attention to two tax cuts that should be repealed right now for the sound reason that they are perfectly nuts.
A whopping 54 percent of the two cuts goes to the two-tenths of one percent of Americans who make more than $1 million a year. And 97 percent of the cuts goes to the 4 percent of the population with incomes over $200,000. (All figures from the Center on Budget and Policy Priorities and the Joint Committee on Taxation.)
The Joint Committee estimates that these two cut tax cuts will reduce the government's income by $9 billion in 2010 and $16 billion in 2015. The center points out that the cost of cuts is significantly understated because the estimates do not assume relief from the alternative minimum tax, a measure popular on Capitol Hill this year.
The center's report says, "If these two tax cuts were to be cancelled ... Congress and the president could avert cuts in areas like health care, child care, housing assistance and food stamp assistance for low-income working families."
It is a rather clear choice of moral values.
The $200 Million Disinformation Campaign
Originally posted by rowingcrazy
Who did america borrow all the money off? if it is countries that owe it money why not just cancell out debts to relieve the problem?