Quote:
Originally Posted by Caligari
How the tea party is destroying the U.S. Economy-
http://www.guardian.co.uk/commentisf...ial-us-economy
of note-
"Economically, the Tea Party argument is feeble. Countries' debts are not like individual households; they can be serviced over generations. In the aftermath of a credit crunch, a country that tries simultaneously to cut public and private debt will suffer prolonged economic stagnation or depression. The cost in lost opportunity, broken lives and bust businesses is too high to slash public debt; indeed, the right action may be to increase it.
Nor is tax in essence different from any other fee: it is the cost of services rendered, and some services such as defence, security, health care and investment in innovative technology are best rendered by society as a whole. Hence taxation.
All the US's great advances ? in the internet, computers, aerospace, space, the internal combustion engine, drugs, optics ? have had the federal government as their sponsor. A well-designed social security system offers people security while not removing their incentive to work; well-judged federal spending on innovation boosts the economy; a banking system needs federal deposit insurance and a central bank as a lender of last resort when banks are distressed.
But in the land inhabited by Michele Bachmann, these propositions are false; they undermine US self-reliance and individualism and obstruct America's road back to greatness."
The fact that Bachmann is a key player in this movement should be enough to convince anyone of it's lunacy. |
Michele Bachmann gives idiot morons a bad rep. I heard hey saying yesterday the President should introduce a budget plan to balance the budget this year. Yes with barely 5 months to go, he should come up with a plan to cut trillions off US spending in the US.
Cutting spending, cuts jobs, cuts investment, cuts innovation and brings a country down to it's knees. It would make her and her backers bankrupt. No farm subsidies, no arms manufacturing, closing down vast swathes of Government office, cutting wages for the public sector workers who still have a job.
And in some areas turn them into ghettos. Where does she think the money given to the poor is spent? On villa in Mexico, Caribbean, etc, or a Ferrari, Porsche, Rolls Royce. I would bet a bigger % of a poor persons income is spent locally in the US than a rich persons. Not many people on benefits take holidays, let alone overseas ones.
Why shouldn't the rich be allowed to keep all their money? It means the tax paid isn't in a bank in a foreign country to ensure they pay less tax. Where did Mallick put his money, wasn't BoA.
Don't tax them until they squeak, but if the profit from the US lending, they should help pay their share.