Posted on 07/11/2007 11:04:36 PM PDT by bruinbirdman
Maybe if we spent less of our money taking care of the rest of the world....
Most of the economic weakness of America could be cured by the abandonment of the Stupid Tax [aka the income tax] in favor of a retail sales tax.
I think that the value of the dollar has more to do with manufactured goods sent out of the country verses goods coming into the country … nothing to do with moneys spent in humanitarian goals.
I already pay a sales tax.
yitbos
You pay one heck of a lot more than that. And I'm not just talking about income taxes, etc. The costs of our current system to business are built into the cost of everything you buy. Well, at least anything made here. Foreign produced products pretty much get a free ride in that regard.
The NRST would turn that around. Our products would suddenly become much more competetive in the world market, and imports would finally be taxed - at the point of sale.
Listen, I’m all for lowering taxes, but isn’t a little silly to say that the U.S. dollar is losing strength because of taxes when we are comparing it to the euro?
I’m describing the primary reason for any weakness in America economically. The way we tax ourselves is stupid.
Interest rates are flat, our economy is stronger now than
ever, the budget deficiet has shrunk to $200B. Gas prices have not caused rampant inflation as predicted by those oh-so-smart
Keynsians.
Of course the U.S.A had record vacation travel this past 4th of July.
You gold bug contrarians better take your measly dollars now.
Not many Reagan supply siders on this post.
True, but our income tax is lower than just about every nation in the Euro Zone. If income tax rate was the source of monetary weakness, then the euro would be in the dumps, not the dollar.
The dollar is stable. If the lowered value oin the dollar U.S.
was monetary weakness then inflation would be climbing. It’s
not. The internal rate of infaltion is incredibly low.
Stop reading the Times and listening to Michael Weiner.
if our economy is so bad why is gold about to take a hit?
After all is’nt that the hedge against a weak dollar and inflation? Those notions are antique.
The only way the unproductive nanny-state we have now can possibly be financed, even for the short term (and G-d help us in the longer term, what with the Ponzi schemes of SS and Medicare and whatnot) is to keep inflating the currency.
Suggest buying Swiss shares, Nestle particularly. LLF, Leo Longlife is a very decent (and highly profitable) Finnish company. Water stocks will repay well for the rest of my lifetime.
Also, recommend buying Aussie and NZ $ on any dips for the long haul. You won't like the reasons, and they're both too socialist for my taste, but the fact of the matter is that they CONTROL, and filter out, the unproductive would-be residents. The US does not.
Fearless forecast: NZ $, with or without Helen Clark's moronic socialist party, will reach parity with the US $ in less than 10 years' time, probably less than 6 years' time.
Oh, a National Retail Sales Tax.
yitbos
USD is and will continue to be in a downtrend because the powers that be, the Fed certainly first among them, are inflating USD with both hands, 24/7/365.
F'Heaven's sake, look at any 10 yr chart of the dollar vs Sterling, DM/Euro, Swiss, Aussie, Canadian, NZ $. Have to be bloody BLIND not to see what's happening.
Geez.
Comparing the relative strengths of two semi-socialist economies is about as interesting as comparing two gays
in a slapping contest.
The dollar is losing value because in the aggregate, we print them faster than other countries print theirs...
I used to like DeutscheMarks. When they reached 2 to the buck they switched to the Euro.
Good thing there are ways to beat inflation other than currency trading.
yitbos
However, massive illegal immigration, and growing underclass not fluent in English, nor assimilating to our culture nevertheless going on the public dole in the millions, coupled with a noticeable decline in customer service (including the now "para Espanol, inprime el numero dos"), are all signs of concern. I think in many respect America's best days are behind us. No amount of patriotic vitriol can move basic, hard, stubborn facts.
If we don't watch out, India and China are also about to eat our lunch--although I doubt I will be around when that finally comes to fruition.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.