Posted on 01/31/2010 5:29:42 PM PST by kristinn
Your not the only one, so maybe it will make a difference. I am an independent oilfield contractor, and I have taken on only enough work to keep me busy, with no employees,to lighten the April 15 burden. I just don’t want to give them any more than I just have to.
Those blue dogs won’t be scolding obama any time soon. Seems like the entire Congress, left and right, are scared of the commie.
a trillion here, a trillion there......
Democrats still don’t think they’re talking about real money
Tax revenues are cratering because of lower tax receipts on corporate profits, dividends, and capital gains. Corporate profits are down because 40% of profits in the last expansion were in the FIRE sector (Finance, Insurance, Real Estate). We all know what has happened to that.
Taxes on wages, such as the Social Security tax, are merely flat.
Amazing that Obama was elected in part on voter anger over GOP spending. Hope everyone’s happy!
Independents are idiots. Obama’s latest fart smelled like a rose, so half of them were wooed by it.
I have been thinking it is time to start ivesting in that stock.
That is apparent. Because the slide left is inevitable. Either by sloth or by busy body leftists in other governments who feel the need to infest your body politic.
Yes, it is strangely liberating.
Man, you nailed it. The only way to win this is to starve the beast of taxes. This means less consumption (so taxes are not garnered) and black market when possible.
Sadly, nothing of Chicago Economics (Becker, Stigler...).
I commend what you are doing. I don’t buy much either, except for “stock-up” items and books.
If we had a concerted, national effort, the revenuers would definitely feel the pinch. What would they do? Probably just print some more money.
Remember that inflation (printing money outside of what is needed) is actually a hidden tax, because it takes from you the purchasing power of the money you have and are earning.
So, when push comes to shove, they’ll take more of you money by printing more. We haven’t seen any real inflation yet, compared to all the money that has been printed over the past couple of years. That is because the velocity of money (how often money exchanges owners) is still very low and because app. 2/3 of the stimulus money (remember what an emergency/crisis it was supposed to save us from?) still has not been spent. It will be spent this year to help Dems out in the midterm campaigns.
When that money hits the streets and the velocity picks up, inflation will hit very hard not too long after that.
The Currency/Financial Armageddon can’t be avoided at this point. There is simply too much debt and continued spending and taxing and unemployment for it ever to just go away. And it’s going to be global. China is little more than an Enron at this point, smoke and mirrors. No one is going to bail the world out. All we can hope is that every nation slows down, licks their wounds, sorts through their destitution in order to rebuild prosperity, hope that it is real prosperity, and to do so without resulting to war, which is the ultimate economic/financial reset button world leaders and banksters love to use.
So, I advise everyone to stock up on the essentials now and, in addition to that, stock up on items you can use to barter with.
Oh, I’ve been dealing with the cash market for years. However what I am seeing now is tradesman who are willing to show up on Sundays at 0600 to fix a washer or service a heater IF the payment is in cash. That’s a change from within the last few years. It has not been like this since the early 1990’s, at least in Eastern Massachusetts. It is certainly a buyers market for labor.
Well, it sounds like I’m doing just about all I CAN do at this point.
It is frustrating, though. I’m one that would rather have the financial pain for us NOW and get it over with, than this ‘kicking the can down the road’ that’s been happening, basically, since I was a kid!
This is the Misery Index (unemployment + inflation) from 1960 when I appeared on the scene:
7.96% Misery
http://www.miseryindex.us/customindexoneYear.asp?StartYear=1960&submit1=Create+Report
Today:
http://www.miseryindex.us/customindexoneYear.asp?StartYear=2009&submit1=Create+Report
12.72% Misery and rising! Of course, I survived The Carter Years *SPIT* when it was absolutely horrific, nearly 22% Misery:
http://www.miseryindex.us/customindexoneYear.asp?StartYear=1980&submit1=Create+Report
If the data stays true to form, we ain’t seen NOTHIN’ yet! (0bama was right about THAT one thing. Clueless Jerk!)
Hopefully we won't still have a liberal majority (D or R) after election day.
“President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides.”
“But Obama inherited this mess ...”
++++++++++++
Obama has proven to be trustworthy so far. I’m going to trust him on this one. /deep sarc
It seems to me that there are three ways for the government to extract revenues from its citizens:
Taxes on income. Individual and/or corporate. The outlook here is bleak from the government's perspective. With double-digit unemployment, income taxes from paychecks are naturally down. The stock market may or may not be recovering (personally, I think the recent rally was a head-fake), but with loss carry-forwards still available, even those who had capital gains and dividend income for 2009 will be able to offset these gains with losses from prior years, and pay little if any tax.
Sales taxes. Taxes on purchases, or value-added taxes. It hasn't been so many years ago, when conservatives were riding high, that a national sales tax was an idea whose time almost came, with such a tax to replace all income taxes. That seems centuries ago at this point. If any federal sales taxes are imposed, they will be in addition to income taxes. In any event, as long as Dems run the show, it is doubtful that a general national sales tax would be imposed -- not "progressive" enough, don'tcha know. A "targeted" sales tax on luxury goods is more likely, but it wouldn't put a significant debt in the deficit.
Taxes on having. Ah, the mother lode, largely untapped so far by the federal government. A national property tax -- on real estate, cars, personal possessions, and most importantly, on your investment portfolio. Yes, the perfect way to extract money from the "possessing class." You stingy, selfish, grubby plutocrats. Even if you don't spend your hoard, we're going to get a piece of it.
Coming soon to a banana republic near -- very near -- you.
Glad to hear it! My husband has his own business, too. The only person he hires from time to time is our son when things get really hectic for him.
Sorry, America. Don’t look to this household for jobs in the current economic and political climate!
This time the South will have a just cause to fight for and win.
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