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Originally posted by inforeal
Why do people care whether rich people’s taxes are high? Are people so brainwashed that they loose sleep over the high taxes of the rich, why don’t you worry about your own interest and cease crying for rich people.
Originally posted by eldard
Originally posted by Flatfish
Our current economic situation has a two fold cause and it includes both overzealous spending, especially when it comes to national defense and corporate subsidies, as well as the destruction of our tax base or revenue source via the Bush tax cuts, especially at a time when our nation was engaged in two wars. I am convinced that our current situation cannot be overcome without addressing both issues simultaneously.
edit on 18-6-2011 by Flatfish because: (no reason given)
Don't forget high fuel costs that ate up most of the lower middle class and the poor's budgets. Leaving them unable to pay their mortgages which led to the subprime crisis.
Then there's Bush's encouragement of cheap housing (which can only be possible with easy credit) for everyone. I thought only dems do that?
Originally posted by VAPatriot
Good find. But, Nobody should have to pay 70% taxes.
In less then 3 minutes he could have included the corrupt politicians and the Federal Reserve.
Why isn’t the U.S. economy accelerating, especially with the corporate sector in such good shape?
Perhaps because corporate earnings aren’t being driven by strength in the U.S., but to some degree by its weakness. Companies have shifted production and sourcing overseas to cut costs and to tap demand in faster expanding markets. Capital spending in emerging markets like China and India has more than doubled in the past decade, and surpassed developed markets last year for the first time, HSBC estimates.
Originally posted by poet1b
reply to post by Pervius
China doesn't so much hate us, they just want control of their corner of the world. That is a whole different topic.
The U.S. will get through this. U.S. domination of the worlds economy and technology is far from over. We continue to gather the brightest and most ambitious from around the world. I think it will be the ICs who will be the biggest losers in the end.