Posted on 03/23/2016 2:45:59 AM PDT by Citizen Zed
If you have No money your broke.No matter how much material wealth you may have.
~$20 trillion in US debt.
Pay that off tomorrow without raising taxes, then I might listen to your argument.
Well yes people who currently profit from a corrupt rigged system often think the status quo is “great”.
Yes, most of that is real estate. And $18 Trillion is in retirement accounts.
“America isn’t broke.”
Hmm, I guess that all depends on how you define “broke”. Let’s use more concrete words then, eh? America is on the path to fiscal insolvency, and not a single elected official or representative has proposed a viable plan for avoiding it.
That is not something I think anyone can actually dispute.
“So all the politicians have to do is tax that wealth away.”
Even if they did, if they don’t address the underlying problems that led us to be 20 trillion in debt, that would just be a band-aid. We’d pay off the debt and then rack it right back up again.
The decline abated a little under Reagan because of rising wages and income, and of course, housing prices.
Excellent post.
You forgot possibility #4: the foreign companies just raise their prices to pay for the tariff and pass it on to the consumer, just like all taxes get passed on to the consumer.
Since we don’t manufacture our own goods anymore, as you noted, we wouldn’t have much recourse except to buy the foreign goods and pay the tariff ourselves.
Amen. Jeremiah was not called “the weeping prophet” for nothing. His words were for Israel, but as you alluded to, I believe they point towards our bleak future as well.
Or ramp up local production, where we can now compete on price......thus increasing jobs here in America.
Wrong. 20 trillion in debt.
80 trillion in future unfounded liabilities.
Many of the states are also broke.
“Or ramp up local production, where we can now compete on price......thus increasing jobs here in America.”
Either way the consumers are getting shafted and paying higher prices. You’re just hoping that the higher prices get funneled to subsidize, well, let’s be honest, welfare for manufacturing workers, instead of going to feed the federal beast through tariffs.
There's two solutions in that. 1) Threat of tariff opens foreign markets. 2) Implementation of a tariff makes U.S. products more competitive with newly higher priced foreign alternatives.
Either way, the U.S. economy grows and restores some breadth.
“Either way, the U.S. economy grows and restores some breadth.”
The US economy doesn’t grow by robbing the pockets of one segment of the population to subsidize another segment. That’s just another version of the old socialist shell game and it won’t work.
Since Obama was elected the US has created $17 trillion in new debt, has seen GDP decrease in real terms, lost more than 40% of publicly listed companies, put 40 million more Americans out of work, added 20 million more Americans to welfare, put 10 million more Americans on social security, seen the median wage decrease and increased the number of Americans who don’t have health insurance.
We’re certainly not as rich as were before Obama.
Trump never said to get out of NATO. Just for the other member countries to pay more for their defense.
They hate up because we are not them. Why is not important.
“America isn’t broke.”
If a person had a $40,000 income but had $200,000 short term debt with over $1,000,000 promised in payments in the next 30 years, we’d call them broke.
If a person had a $40,000 income but had $200,000 short term debt with over $1,000,000 promised in payments in the next 30 years, and added an additional $50,000 in promised payments and an additional $4,000 to $10,000 per year in debt, we’d call them broke.
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