APP - The death spiral has begun: The US can no longer sustain itself.

asaratis said:
When the total income of the Treasury isn't enough to cover the interest on the debt, the Treasury is in a death spiral. Duh!

Adding taxes on the people and companies that are struggling to be a part of the tax-generating GNP is just plain stupid. What is needed is a reduction in spending.

A reduction in military spending is the most ridiculous consideration among the many proposed. The military supports a lot of private enterprise, mom and pop stores, JOBS in the private sector...by way of creating a big demand for goods and services. Just ask the citizens of any little town where there's a big base of military equipment and personnel. Business is good.

Close a base...devastate a community of hard working Americans (when the base is here) and businesses that supply the base with staples.

Where the spending cuts should begin is in the size of the government roster of non-military employees. Make government jobs available to those that are willing to maintain the jobs based on performance rather than tenure. Fire the incompetent and the excess labor...let them seek jobs in the private sector.
Click to expand...

Ah, but they wouldn't make nearly as much money in the private sector.
 
http://firedoglake.com/2009/02/01/newsflash-ronald-reagan-raised-taxes-you-idiots/

What comedy this crying for the rich brings forth from the conservative wingnuts. LOL Do you buffoons know any rich people or are you all so brainwashed you think they make a big difference? I know many and believe me they help little.

"There is no historical evidence that tax cuts spur economic growth. The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent. During this period, the general tax rate climbed as well, but it reached a plateau in 1969, and growth slowed down five years later. Almost all rich nations have higher general taxes than the U.S., and they are growing faster as well." http://www.huppi.com/kangaroo/L-taxgrowth.htm


"The conclusion is that, if anything, tax increases on higher-income families are the least damaging mechanism for closing state fiscal deficits in the short run. Reductions in government spending on goods and services, or reductions in transfer payments to lower-income families, are likely to be more damaging to the economy in the short run than tax increases focused on higher-income families. In any case, in terms of how counter-productive they are, there is no automatic preference for spending reductions rather than tax increases."
Spending Cuts Vs. Tax Increases at the State Level, 10/30/01

Let them all move - ain't gonna happen they need to make money here. LOL
 
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