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Originally posted by deadeyedick
reply to post by defcon5
I don't see that as a definite outcome but more near the worst case scenario.
Originally posted by AQuestion
reply to post by frazzle
Dear frazzle,
Are you in favor of competition (capitalism or against it, tariffs are anti capitalism, free market).
Oh it would be terrible if government employees had to join the real world.
A voluntary army would be enough protection.
A system of registering a vehicle is enough. We don't need all the extra unaccounted for taxes.
Sadly converting to another system doesn't seem possible without suffering on a massive scale. I believe we can fix the current system without resorting to such archaic and barbaric means.
Originally posted by defcon5
Originally posted by deadeyedick
reply to post by defcon5
I don't see that as a definite outcome but more near the worst case scenario.
Nope, its a definite.
Moodys has already threatened to downgrade the US's credit rating. This means that confidence in others ability to borrow money and be re-payed suffers. The US has a credit rating, just like you or I do. What happens if you let your credit rating drop? No one wants to lend you money because they cannot trust that you'll pay it back according to the agreed upon terms, your interest rates also climb through the roof.
Since the US dollar is the World Reserve Currency, this would quickly cause issues with other countries that hold large amounts of US dollars. We could very well lose our ability to be the world currency. Governments and people who have invested heavily in US bonds, would dump them, and refuse to buy any more.
A flat tax and elimination of all other taxes would work.
Originally posted by deadeyedick
Moodys and some bonds don't make plants not grow.
Everything you mention is just basically imaginary.
Originally posted by deadeyedick
I think it's important to remember that our basic needs are food and water and the world has the means to supply these things without the stock market.
Monday, April 7, 2008
'1984: Grace Commission Report under Ronald Reagan showed IRS is a fraud that collects taxes for the Banking Dynasties'
"100% of what is collected is absorbed solely by interest on the Federal Debt ... all
individual income tax revenues are gone before one nickel is spent on the services
taxpayers expect from government."
-Grace Commission report submitted to President Ronald Reagan - January 15, 1984
Originally posted by defcon5
If we all stopped paying taxes, the US would default on its debt.
We would still have to pay it back, though possibly over a longer period at higher interest, but more importantly confidence in the US, the dollar, and our bonds would drop through the floor. It would throw the entire worlds economic system into a tailspin, and a depression like never seen before in history. We'd see mass unemployment, market crashes, protests, and very possibly wars break out over it. China, who holds massive amounts of our debt, would be exceptionally ticked off by this, and gawd only knows what they would do about it.
Henry Bellmon
Senator (1969)
"In a recent conversation with an official at the Internal Revenue Service, I was amazed when he told me that 'If the taxpayers of this country ever discover that the IRS operates on 90% bluff the entire system will collapse.'"