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Depending on the condition of Western Europe at that time, the possibility exists that the train not only "goes off the tracks" but off the cliff and the US plunges into a steep depression worse than that experienced during the 1930s.
Arthur Betz Laffer (pronounced /ˈlæfər/; born August 14, 1940) is an American economist who became influential during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–1989). Laffer is best known for the Laffer curve, an illustration of tax elasticity which asserts that, in certain situations, a decrease in tax rates could result in an increase in tax revenues.
Laffer is the author and co-author of many books and newspaper articles, including Supply Side Economics: Financial Decision-Making for the 80s. Laffer is Policy Co-Chairman (with Lawrence "Larry" Kudlow) of the Free Enterprise Fund.
Laffer identifies himself as a staunch fiscal conservative and libertarian. He has stated publicly that he supported President Bill Clinton in 1992 and 1996. Laffer references President Clinton's conservative fiscal policies as cornerstones of his support.
He was named a Distinguished University Professor of Economics by Mercer University (Georgia) in 2008.
Originally posted by mnemeth1
This makes no sense to me.
I was never contacted by "Before It's News"
"I am amazed that the US government, in the midst of the worst financial crises ever, is content for short-selling to drive down the asset prices that the government is trying to support....The bald fact is that the combination of ignorance, negligence, and ideology that permitted the crisis to happen still prevails and is blocking any remedy. Either the people in power in Washington and the financial community are total dimwits or they are manipulating an opportunity to redistribute wealth from taxpayers, equity owners and pension funds to the financial sector." Paul Craig Roberts was Assistant Secretary of the Treasury www.countercurrents.org...
Section 9006 of the health care bill -- just a few lines buried in the 2,409-page document -- mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.
The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year.
Right now, the IRS Form 1099 is used to document income for individual workers other than wages and salaries...