Bush's trillion dollar tax increase

Discussion in 'Economy' started by Chris, Jun 27, 2008.

  1. Chris
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    Chris Gold Member

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    Bush has borrowed a trillion dollars from China to fund the war in Iraq. This huge increase in the supply of American dollars has made the dollar worth less. This decrease in the value of our money is an invisible tax. Americans are so dumb that they don't even realize this.
     
  2. Annie
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    Annie Diamond Member

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    Waiting for the link and the rationalization for your conclusion.
     
  3. rayboyusmc
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    rayboyusmc Senior Member

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    Don't know about the link, but as our currency is devalued, that is a form of taxation. It takes away the buying power of the dollars we earn.
     
  4. Chris
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    Chris Gold Member

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  5. Annie
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    Annie Diamond Member

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  6. Chris
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    Chris Gold Member

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  7. jreeves
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    jreeves Senior Member

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    Where does your article say anything about funding a war in Iraq? I think you need to re-read the article that's not even close to what it was saying. I would say that social spending plays a larger role in the 1 trillion dollar investment by China than does military spending....Since it is the single largest expenditure by the US government.
     
  8. Manuel
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    Manuel *****

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  9. jreeves
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    jreeves Senior Member

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    That's about half of what the article claims...interesting....:eusa_think:
     
  10. Manuel
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    Manuel *****

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    It still sums up to $600 billion, if you include taiwan and hong kong.
    We did not use their money to finance the war exclusively - but without the war, we would have needed $500 billion less in the last couple of years.

    They also have a lot of other interesting documents there...

    U.S. Treasury - Treasury International Capital System - Bank Liabilities to Foreigners
     

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