Quote:
Originally Posted by slapass
They get money from capital gains taxes for those items.
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There a lot of ways not to have to pay capital gains tax at the time of sale (tax deferred) legally. Also, the proposed 3% is on the total sales gross amount (loss or gain) in addition to any capital gains taxed accrued. It is a flat tax on the total value of the sale.
You cannot reduce the national debt without either a currency devaluation or new tax revenue. The US Dollar went to shit after Nixon's 2 devaluations. $1000 in 1971 dollars are worth $5,900 dollars in 2015.
1000/5900
.16949152542372881355
Money is cheap when adjusted for inflation
on an inflation adjusted basis we (the USA) are
3021029047582.00/398129744455.54
7.58805160793346545472 * more indebted
Almost 7.6 times more in debt.
What's The Donald Trumpster going to do? -- declare bankruptcy, he's experienced at that. The US government cannot declare bankruptcy :
US Constitution, Amendment 14
Section 4.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
*Including means not limited to.
However, the Fed and the Treasury Department could devalue the currency 70%. Wipe out everyone's savings and assets. We have been kicking the can down the road too long.
Having a $15.00/hr minimum wage or returning ''the lost jobs'' from China, who just today devalued the Yuan 2% BTW harbinger or just a feeler for a greater future devaluation, rest assured, the Chinese economy would collapse along with ours if the Chinese called in their US debt obligations. We would all sink together.
Where is Ross Perot with his silly charts?
NVM, all he could prove is that we are fucked -- time to start a war again
