One solution is to replace the increasingly onerous federal income tax code with one that restores power and freedom to the people with The Fair Tax Act. Fair Tax ping!
Posted on 08/20/2008 6:14:51 PM PDT by phil_will1
From the producers of Wordplay and the studio that brought you Supersize Me, the must-see documentary I.O.U.S.A. uncovers the source of critical economic concerns that touch the lives of every American. A tapestry of archival footage, hard data and candid interviews woven together, it paints an authentic profile of today’s economic condition. Solutions for how we can impact this nationwide crisis and evolve into a more fiscally sound nation for future generations are offered by the documentary’s powerful conclusion.
“May be to the U.S. Economy what An Inconvenient Truth was to the environment.” - Reuters
(Excerpt) Read more at iousathemovie.com ...
That's probably not the kind of praise that's going to bring anyone around here to see it.
Let me guess, the solution is socialism.
Nope. Any country regardless of government type may go broke. All it takes is the people to do nothing about it!
You mean lies, disinformation, propaganda and the conclusion that the only solution is huge, expensive government programs and taking away the rights of individual citizens.
Considering 90% of Americans could not pass the first test in a high school economics class, the movie will be a good thing and people might learn something.
The solution is politicians who are willing to make hard choices and CUT SPENDING and live within our means. We need a leader who will tell the people that the federal government is NOT the solution to every problem that arises. McCain has a long record of opposing pork and being for fiscal responsibility.
Tax reform has to be a part of the solution, and I do NOT mean tax relief (which is a separate subject). Continuing into the 21st century with a tax system which puts US producers at a disadvantage in the increasingly global economy is insanity.
“Considering 90% of Americans could not pass the first test in a high school economics class, the movie will be a good thing and people might learn something.”
$9.5 trillion is the national debt, according to the website. It doesn’t take a PhD in economics to realize that that is an enormous number and that we are on an unsustainable path.
To paraphrase the late Senator Everett Dirkson: a trillion here, a trillion there, before you know it, it starts to add up to real money.
I want a history buff to give me an example of a rich country that went broke....all I can think of is England and France losing power from their peak
Babylon?
Cuba.
Before Cuba was taken over by Communists it had the 4th largest economy in all of central and south america. Today it is at the bottom (or very near it).
Socialism eradicates poverty by making everyone poor. Once that happens, statistically, nobody is poor.
David Walker and Pete Peterson are phonies. They want universal healthcare. How the heck that is the solution to Medicare is beyond me. We can’t afford entitlements as it is.
Very good example
And if you calculate the “unfunded” portions of Social Security, Medicare, and Medicaid, we’re closer to 40~50 trillion, depending upon who you talk to.
Agreed!
You can’t continuiously spend spend spend spend spend without repercusions.
There is a reason that many countries were on the Gold standard, as it prevents too much trade imbalances since at some point, the government has to settle up with something you can’t print. You have to find other ways at that point to infuse capital into the market. Higher interest rates to stimulate savings and thus invest in the home economy. Cut taxes to encourage foriegn businesses to operate here.
Hum, sounds kinda like Volker and Reaganomics doesn’t it?
“And if you calculate the ‘unfunded’ portions of Social Security, Medicare, and Medicaid, we’re closer to 40~50 trillion, depending upon who you talk to.”
The number that I heard was $53 trillion. To put that into perspective, the net worth of every household in America is a little over $40 trillion. Therefore, if the federal government confiscated every individually owned asset in America, they would still fall roughly $10 trillion short of being able to fund this shortfall.
If this isn’t the epitomy of recklessness and irresponsibility, then I really don’t know what is.
We need to scrap that POS and cut our losses. Don’t take any new people, and don’t grant any more benefits. Too bad, it’s the price you pay. If you helped to enact it, then it’s a shame you’ll suffer the consequences of axing it.
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