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pan6467 · 11-17-2005, 12:09 AM

A trade deficit against another country means that you rely heavily on the other country continuing to loan you product and not asking for payment.

When the debts come due, and they have to, or what is the purpose of even keeping track, the country holding the debt expects payment.

How are we going to pay?

The National debt and the fact that Bush has sold us out to other Foreign countries and banks, means that if we default on T-Bills, (which we won't do we'll just print up the money to pay thereby destroying our economy, most likely), those countries and banks will start collecting in other ways.

Right now a vast portion of our taxes goes to pay INTEREST, not for any programs to help us.

So we pay all this money in interest, and we end up short and borrowing more to cover the programs we need.

By cutting taxes and shipping jobs overseas, closing factories that paid taxes, closing private businesses that paid taxes, people working for less so less taxes can be collected from them, you are essentially destroying your tax base.

But the Bushys are more interested in company profit, they don't care that every job shipped overseas takes away our tax base. They don't care that cutting education and thereby falling behind in the world, cuts our children's futures to find a good paying job, thereby cutting the tax base.

They don't see that a country that does not make anything and is totally service oriented (as we are headed for) cuts good paying factory jobs, cuts wages, creates the need for these places to keep slashing prices so that people can afford to buy the products, however, manufacturing those products eventually will cost more than what they sell for as the cheaper labor has been decimated. (I can almost guarantee we have wiped exploited all the cheap labor we can find in Asia and we're going to be looking at Africa next for even cheaper labor soon.)

They don't see if the government doesn't have the money to invest in the small businesses (which were our greatest assets) and instead cuts those benefits and keeps subsidizing big companies with corporate welfare, you are cutting deep into the tax base, way too deep and not building any new tax base.

What happens when the labor and costs exceed the selling price? How long do you think it will take for the CEO's to close shop and use their golden parachutes, while workers are left to foot the bill?

Point is, the National debt and the trade deficit are intermingled and one may hurt us severely and take awhile to recover but together they will destroy us.

Look at GM, they go bankrupt, we're toast. They cut wages, we lose tax base. They move overseas, we lose tax base.

We cut their taxes (Or give them more corporate welfare) to keep them in business, we cut our tax base.

It's all about creating new tax bases so that you do not deplete your current tax base. But we haven't been doing that for quite a few years. We have been shipping jobs and factories overseas for cheaper labor and driving a death knell into our tax base.

Eventually it catches up and people want their money.

But what do I know? Tax base obviously means nothing when Bush keeps wanting to cut the rich's taxes.

11-17-2005, 12:09 AM	#26 (permalink)
pan6467 Lennonite Priest Location: Mansfield, Ohio USA	A trade deficit against another country means that you rely heavily on the other country continuing to loan you product and not asking for payment. When the debts come due, and they have to, or what is the purpose of even keeping track, the country holding the debt expects payment. How are we going to pay? The National debt and the fact that Bush has sold us out to other Foreign countries and banks, means that if we default on T-Bills, (which we won't do we'll just print up the money to pay thereby destroying our economy, most likely), those countries and banks will start collecting in other ways. Right now a vast portion of our taxes goes to pay INTEREST, not for any programs to help us. So we pay all this money in interest, and we end up short and borrowing more to cover the programs we need. By cutting taxes and shipping jobs overseas, closing factories that paid taxes, closing private businesses that paid taxes, people working for less so less taxes can be collected from them, you are essentially destroying your tax base. But the Bushys are more interested in company profit, they don't care that every job shipped overseas takes away our tax base. They don't care that cutting education and thereby falling behind in the world, cuts our children's futures to find a good paying job, thereby cutting the tax base. They don't see that a country that does not make anything and is totally service oriented (as we are headed for) cuts good paying factory jobs, cuts wages, creates the need for these places to keep slashing prices so that people can afford to buy the products, however, manufacturing those products eventually will cost more than what they sell for as the cheaper labor has been decimated. (I can almost guarantee we have wiped exploited all the cheap labor we can find in Asia and we're going to be looking at Africa next for even cheaper labor soon.) They don't see if the government doesn't have the money to invest in the small businesses (which were our greatest assets) and instead cuts those benefits and keeps subsidizing big companies with corporate welfare, you are cutting deep into the tax base, way too deep and not building any new tax base. What happens when the labor and costs exceed the selling price? How long do you think it will take for the CEO's to close shop and use their golden parachutes, while workers are left to foot the bill? Point is, the National debt and the trade deficit are intermingled and one may hurt us severely and take awhile to recover but together they will destroy us. Look at GM, they go bankrupt, we're toast. They cut wages, we lose tax base. They move overseas, we lose tax base. We cut their taxes (Or give them more corporate welfare) to keep them in business, we cut our tax base. It's all about creating new tax bases so that you do not deplete your current tax base. But we haven't been doing that for quite a few years. We have been shipping jobs and factories overseas for cheaper labor and driving a death knell into our tax base. Eventually it catches up and people want their money. But what do I know? Tax base obviously means nothing when Bush keeps wanting to cut the rich's taxes. __________________ I just love people who use the excuse "I use/do this because I LOVE the feeling/joy/happiness it brings me" and expect you to be ok with that as you watch them destroy their life blindly following. My response is, "I like to put forks in an eletrical socket, just LOVE that feeling, can't ever get enough of it, so will you let me put this copper fork in that electric socket?"