Recipie for Economic disaster, Tax cuts during times of increased dept, deficeits.

Discussion in 'Economy' started by 52ndStreet, Sep 25, 2010.

  1. 52ndStreet
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    52ndStreet VIP Member

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    We have now seen two American presidents enact a Federal tax cut in a economic environment of increased federal spending, and national deficeits, and inflation.
    This is true VooDoo economics.

    Former president Bush, with his tax cut for people making over $100,000.00,
    and now our current president Obama with his proposed tax cut for the middle class.
    I have stated earlier on this thread that federal taxes must be raised across the board
    if America is to balance its trillion dollar national debt and budget deficeits.

    America can not, and must not continue on this gimmick course of tax cuts, while
    spending billions of dollars from the U.S. Treasury. It is bound to have a catastrophic
    effect at some point in the future for Americas economy.

    America needs to create new areas to tax, and must increase taxes now to avoid
    a future economic nightmare and catastrophe.:razz:

    52ndStreet.
     
  2. Tom Clancy
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    Tom Clancy Clancy for Ron Paul

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    Damn you White people!
     
  3. 52ndStreet
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    52ndStreet VIP Member

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    America can not continue to spend more than it takes in in Taxes, and then borrow trillions and billions
    of dollars from foreign countries. This will eventually lead to a major economic collaspe at some point in the not to distant future, and this may lead severe global and national situations, that could
    spark a sociological upheaval or conflict throughout the entire world.!!:razz:
     

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