Reagan insider: 'GOP destroyed U.S. economy'
- Thread starter owusu
- Start date
I wonder how soon before Obama gets mentioned.
First, USA population is growing, which means that Federal tax revenue needs to grow too. Multiple economists, including Greenspan (with Stockman being the latest), have discredited the theory that tax cuts work. My theory is to NEVER cut taxes as the population is steadily growing, but to make drastic spending cuts , as you agree with, and some moderate tax increases until the budget is balanced. After the budget is balanced, tax rates are to be raised only in the case of an absolute national emergency to offset identical spending increases so the budget stays balanced. Any surplus is not to be refunded by tax cuts or spending increases but will be used to pay down debt. I know this will likely not happen unless the credit supply dries up, but it's a way to save this country.
profits in U.S. financial industry is 4 times that of the rest industries. Resources and talents are poured into Wall Street playing money games, paper games rather. The value of money depends on the substantive "stuff" produced. If there is no "stuff", money is just paper, number; sooner or later becomes worthless.
Well why would a PHD with 100K in student loans want to work for 38K in some college when you can pay off your loans the first year and pocket a windfall for working in Wall street.
Right now there is no incentive to work in a productive industry, Society does not value this.
My attitude is as long as I can cash in playing the game, fuck the rest. I can move to a different country worst case.
There is nothing wrong with everyone is for his/her-own as long as it is legal and moral. The issue is that if the government has the best interest of the people in mind it should set up a system that encourages people to make choices not only server themselves but also serve the interests of the whole. Financial industries in U.S. enjoy preferential treatment by the government. Those in control of the government are pretty much bought out by them
The article basically agrees with what I've been saying for years:
Democrats: Tax and spend.
Republicans: Spend.
Democrats: Tax and spend.
Republicans: Spend.