I believe, in spite of the government and this administration’s ineptness, we underestimate the resiliency of the American people. Now if we can just muddle through ‘til November...
Alexis De Tocqueville, author of Democracy in America, which was published that year, seemed to warn of this day when he wrote: “The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.”
When the current income tax system costs around US$304 BILLION per year in compliance costs and drove almost US$16 TRILLION in American-owned liquid assets into the illegal underground economy or to offshore financial centers to keep these assets out of the hands of the IRS, no wonder why we have such a bad economy.
If we can clean up our national taxation system, we could cut that US$304 billion in compliance cost substantially, and bring back most of that US$16 trillion in liquid assets back to the US financial system--the world's largest "private bailout." That much liquidity returning to the US financial system would easily kick off the next American economic boom.
I’d have unlimited hope for the future if we had some decent leaders and a public that cared about something other than victimology and gimme. Unfortunately we have neither.
Someone brought it to our attention yesterday.
:p
Don’t know if it is, but the imposter in the White House sure hopes it is.
“Could this be the end of ‘Little Rico’?”
Hold on...things are going to get better.
Make sure you vote on November 2nd!
The most money is made in dangerous times...the most money is lost in certain times.
Viva America!
ping
>>...that could lead the country to the brink of collapse: According to economists Carmen Reinhart & Ken Rogoff, whose views we share, crossing the 90% debt/GDP threshold is the equivalent of crossing the proverbial Rubicon of economic growth. It’s a point from which it’s almost impossible to return.
And we are sitting at 94% [external] debt to GDP (not even counting off-the-books debt or unfunded entitlements)
....cloward and piven....