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boggsman1
Joined: 24 Jun 2002
Posts: 9120
Location: at a computer
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 Posted: Tue Oct 05, 2010 11:09 am Post subject: |
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| feuser wrote: | | stevenbard wrote: | Forget all these ideas. This is really how our government plans to pay for all this foolish spending. The same way Zimbabwe did. Print money....  That way we'll all be making a million dollars a day! Not quite enough for a happy meal though. |
Can you explain the almost total absence of inflation (apart from fuel and housing costs) in the US?
Those (like you?) who sit on a big mountain of cash don't like the idea of issuing currency; those who actually want jobs should probably be in favor of it. |
Bard doesnt even know that the money printing is a Fed task , thats why dollar bills say Federal Reserve note on them. Regarding inflation , it is percolating BIG TIME! Gold is screaming, commodities are screaming, health care costs are screaming, education costs are screaming, food is screaming, Patron is expensive, gas is about to get real expensive. Inflation is here , the CPI is low because the owners equivalent rent figures, a massive component , are super low because of the housing glut. |
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isobars
Joined: 12 Dec 1999
Posts: 20935
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| Posted: Tue Oct 05, 2010 11:18 am Post subject: |
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| coboardhead wrote: | | How do we pay for this? |
The proven ways:
Spend less.
Spend a few billion actually researching some optimal level of national debt and deficit and stick to the result by law.
Lower the taxes proven to decrease revenues by stifling the economy. See the Laffer Curve.
Replace the 70,000 page income tax with the 134 page Fair Tax.
Consider this, from Fair Tax FAQs at
http://tinyurl.com/2t328d :
What other significant economies use such a tax plan?
Two of the largest economies in the world rely almost solely on sales taxes: Florida and Texas. Many civilizations in history have relied solely on transaction-based consumption taxes: A percentage of a grain shipment in exchange for a safe harbor. Even a cursory study of history shows that nation/states that relied on consumption taxes flourished and prospered, supported democracies/republics, had expanding economies, and high levels of civil rights for their citizens. The exact opposite is true for empires that relied on income/poll/head taxes. These taxes were used to support despots, eventually collapsed the economies in which they were applied, and sundered civil rights.
The sales tax is a familiar tax, being a major source of revenue in 45 states and the District of Columbia. It is true, however, that no post-industrial nation, until now, has ever repealed its income tax and replaced it with a federal retail sales tax. However, England did repeal its detested income tax upon the defeat of Napoleon and enjoyed the fastest, longest expansion of its economy in its long history. An expansion that ended only with the -- you guessed it -- re-imposition of an income tax.
No other country has a system of government like ours, and no other country has led the world in so many fields as ours. It was France and Germany that forced the imposition of a VAT in addition to income taxes across the European Community. Shall we follow Frances lead?
I might add some arguably self-evident ideas:
Put more politicians in prison.
Put some Madoffs in the electric chair.
Allow only one item/topic in any one congressional bill; no fair hiding a student loan bill in a war funding or highway bill.
Vote on a bill at a hard, functional deadline, not only when the majority speaker or senate head decides s/he has enough votes to win.
Vote out the biggest spenders on both sides.
Reduce, rather than expand, the size of government.
On a broader scale:
Prioritize bills and dispatch them in that order; no more putting TV commercial volume legislation ahead of the economy or national defense.
I'm sure we could Google countless more ideas. |
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swchandler
Joined: 08 Nov 1993
Posts: 10588
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| Posted: Tue Oct 05, 2010 11:25 am Post subject: |
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An excellent start towards a sensible debt pay down would be letting the Bush Tax Cuts expire. The beauty in its execution is the fact that Congress needs to do absolutely nothing, and on January 1, 2011 we immediately begin reducing our debt.
If we want to kill two birds with one stone, how about an added progressive tax surcharge to pay for our ongoing war efforts in Iraq and Afghanistan. Once the war effort is over, the tax surcharge sunsets. I'd bet that folks would quickly lose an appetite for an ongoing never ending war effort if it had to be paid for out of pocket and not through any borrowing or cuts elsewhere. Who knows, maybe even the Republicans and tea party folks might be for it, if they're truly honest in all their talk about cutting government costs. Any fool knows that spending billions of dollars on war half way around the world in the Middle East does virtually nothing to build a stronger more vibrant American here on our own soil. |
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feuser
Joined: 29 Oct 2002
Posts: 1508
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| Posted: Tue Oct 05, 2010 11:32 am Post subject: |
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| boggsman1 wrote: |
...
Regarding inflation , it is percolating BIG TIME! Gold is screaming, commodities are screaming, health care costs are screaming, education costs are screaming, food is screaming, Patron is expensive, gas is about to get real expensive. Inflation is here , the CPI is low because the owners equivalent rent figures, a massive component , are super low because of the housing glut. |
Inflation could take off, but only if the Government keeps spending.
http://www.inflationdata.com/inflation/inflation_rate/currentinflation.asp
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florian - ny22
http://www.windsurfing.kasail.com/ |
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mat-ty
Joined: 07 Jul 2007
Posts: 7850
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| Posted: Tue Oct 05, 2010 11:56 am Post subject: |
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Buy gold
the more money they print, the more gold prices will rise! Just do not buy more than 600 dolllars worth at a time, THEY WANT TO KNOW WHO YOU ARE.
Hey Steve
have you heard Mcdonalds is selling
THE OBAMA EXTRA VALUE MEAL
I guess you can order what ever you want, and the guy behind you has to pay. |
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DanWeiss
Joined: 24 Jun 2008
Posts: 2296
Location: Connecticut, USA
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| Posted: Tue Oct 05, 2010 12:08 pm Post subject: |
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| mat-ty wrote: | SNIP
have you heard Mcdonalds is selling
THE OBAMA EXTRA VALUE MEAL
I guess you can order what ever you want, and the guy behind you has to pay. |
Now that is funny!! |
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boggsman1
Joined: 24 Jun 2002
Posts: 9120
Location: at a computer
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| Posted: Tue Oct 05, 2010 2:26 pm Post subject: |
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| isobars wrote: | | keycocker wrote: | | If Bush had privatized any part of our money ,it would have been gone in the economic crash his policies caused. |
Bush simply pushed the OPTION of our investing a measly 10% of SS.
O has spent/obligated more money than his 43 predecessors combined.
I have lost less than 10% over the past few years. No one makes us invest in obvious bubbles. |
#1 and #2 are lies.
Bush's terms added 4.3TR of debt to us tab, Obama is at 2.6, and the first year was a 1.2 TR deficit that was unavoidable due to previous obligations and tax revenue falling of a cliff.
Most of the American Enterprise, Hoover Institute SS reform measures has anywhere from 20-50% of ones SS going to a private account. I remember, Im a Wall Streeter, I was drooling.
BTW, ISO you're down 10% performance is weak. 2009, and 2010 have been blowout years for many asset classes, in all our accounts , our clients are net positive after the 2008 disaster. |
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jp5
Joined: 19 May 1998
Posts: 3394
Location: OnUr6
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| Posted: Tue Oct 05, 2010 3:40 pm Post subject: |
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| mat-ty wrote: |
THE OBAMA EXTRA VALUE MEAL
I guess you can order what ever you want, and the guy behind you has to pay. |
That actually happened to me once. A guy comes up to me while I'm ordering and says something to me in Spanish about needing money for a hamburger so I bought him one. |
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feuser
Joined: 29 Oct 2002
Posts: 1508
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| Posted: Tue Oct 05, 2010 4:16 pm Post subject: |
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| mat-ty wrote: | Buy gold
the more money they print, the more gold prices will rise! Just do not buy more than 600 dolllars worth at a time, THEY WANT TO KNOW WHO YOU ARE.
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The fool with the funny haircut got you to buy his gold?
http://www.youtube.com/watch?v=ZgQpchLtEFU
| Quote: |
have you heard Mcdonalds is selling
THE OBAMA EXTRA VALUE MEAL
I guess you can order what ever you want, and the guy behind you has to pay. |
Funny. Did you come up with that one?
_________________
florian - ny22
http://www.windsurfing.kasail.com/ |
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coboardhead
Joined: 26 Oct 2009
Posts: 4303
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| Posted: Tue Oct 05, 2010 5:06 pm Post subject: |
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"Hey Steve
have you heard Mcdonalds is selling
THE OBAMA EXTRA VALUE MEAL
I guess you can order what ever you want, and the guy behind you has to pay".
Provocative (In a good way) and funny!! I told it today - only called it a "Happy Meal". Still worked! |
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