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Originally Posted by Baraka_Guru
I don't know. Is it possible that the U.S. is [I]undertaxed?
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No. Most of the countries on that list are in Europe. Considering the history of Europe over the last 2000 years I wouldn't use Europe as a model of success for anything. I certainly would not view the socialist state model in Europe as a success at all.
The only country on that list that I've seen as a credible economic competitor to the US in the last 40 years is Japan, and Japan's tax rates are lower than US tax rates.
---------- Post added at 08:21 AM ---------- Previous post was at 07:41 AM ----------
[quote=Tully Mars;2812629]And when was it at 400 billion and when did it jump to 1.3 trillion? Who was in charge when that happened?{/QUOTE]
That happened in the last year of Bush's term, as a result of the bailouts, which should not have been done. If anything, the government/Federal Reserve should have been the credit source of last resort when other credit dried up, and then only to companies which were in financial position to repay the loan.
Quote:
Originally Posted by Tully Mars
Ok I'll listen. Tell me what are you going to cut. Where and how much?
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I'd cut military to what is reasonable for national defense. We don't need bases in places like Korea, Japan, Germany, etc to defend those countries. Let them defend themselves if a threat even exists. If we have bases in other countries that those countries are not substantially funding and which are not critical to US defense, then those bases should be closed.
I'd eliminate all government subsidies. Business succeed or fail on their own.
I'd look at shrinking the size of the government. We don't need a bunch of agencies duplicating each other's work, the latest example being the security agencies.
I'd bring government salaries back in line with salaries in business. There was a news story recently about federal employee's salaries being some 60% higher than equivalent non-federal jobs.
I'd cut the welfare programs significantly. I've read several times now that cost of food stamps is higher than it's ever been and rising. Unless you have a disability and cannot work, there is no reason that I should be supporting you.
Unemployment is limited to 6 months.
I'd send all of the illegal immigrants home.
I'd give the president the line item veto that's been asked for several times. That will help keep Congressional spending in check.
Quote:
Originally Posted by Tully Mars
I refuse to see my fellow Americans as free loaders, sorry. Just doesn't wash with what I know of them. Sure to can find some jack wad working the system.
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If they are not paying taxes that sure sounds like the definition of freeloading.
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Quote:
Originally Posted by Tully Mars
But I think by far most Americans are hard working honest people just trying their best in life. I'm more inclined to believe those not pulling their weight are trust fund baby who've been allowed to inherit fortunes tax free. In 2010 with the debt racing for the toilet the estate tax will be -0-.
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For money which has already been taxed, the estate tax should be zero.