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How To Solve The US Debt Crisis?

 
2inoz
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User ID: 1496202
Australia
08/06/2011 07:13 PM
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How To Solve The US Debt Crisis?
Just throwing this out there....

Raise taxes for both individuals and corporations and close loopholes in the tax system that facilitate tax minimisation.

Introduce a G.S.T.(Goods and Services Tax)or V.A.T.(Value Added Tax).

Stop war-mongering.

Other ideas anyone?
Taz
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User ID: 1392825
United States
08/06/2011 07:14 PM

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Re: How To Solve The US Debt Crisis?
oh i dunno.... STOP SHIPPING OUR FUCKING JOBS over seas maybe ???


... just a thought.
Satya

User ID: 1496359
Australia
08/06/2011 07:19 PM
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Re: How To Solve The US Debt Crisis?
Bring their military home. If the poo hits the fan they'll soon be needing them at home anyway.

Stop sending rockets off to far away planets.

Raise tax for large businesses profits & rich individuals income.
2inoz (OP)

User ID: 1496202
Australia
08/06/2011 07:20 PM
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Re: How To Solve The US Debt Crisis?
oh i dunno.... STOP SHIPPING OUR FUCKING JOBS over seas maybe ???


... just a thought.
 Quoting: Taz



Good start...more jobs = more tax revenue = less debt.
Major_Payne

User ID: 1496293
United States
08/06/2011 07:25 PM
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Re: How To Solve The US Debt Crisis?
VATs only hurt the consumer. I would rather see them tax dividends as earned income (30+% compared to 15%). Then allow the Corporation to deduct the revenue collected from the dividend tax from their Corporate tax. I would only allow AMERICAN Corporations to take this deduction. This would give them an incentive to move back to the U.S. and give them an incentive to pay their shareholders.

Last Edited by Major_Payne on 08/06/2011 07:26 PM
Anonymous Coward
User ID: 1478611
United States
08/06/2011 07:29 PM
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Re: How To Solve The US Debt Crisis?
OP, let's look at some facts. Almost 50% of the US national debt is interest owed to the so called Federal Reserve. This is approximately $7 trillion of the $14 trillion.

You can look at this $7 trillion dollars in 2 ways:
1 - since it is owed to an agency of the federal government, then it is an internal accounting problem (i.e. the government should not be charging itself interest), and thus it can be written off, OR

2 - the federal reserve did not loan the money to the government, because it never had it to loan in the first place. Since it had to go and get the money from some other source (e.g. China), the federal reserve can't collect interest on the amount borrowed anyway beyond that which was initially allowed by the Federal Reserve Act of 1913 (i.e. 5%).


OP, the problem of the debt is compounded because the amount collected in taxes does not even cover the amount annually due the Federal Reserve for just the interest. The amount not payed is added to the debt. Plus, all the money the government needs to operate for each year is added to the debt. It is simply mathematically impossible to pay down or pay off.

But, unfortunately, 99.999 % of the american people are too stupid to understand this and would rather ignore the truth.
Anonymous Coward
User ID: 1496279
United States
08/06/2011 07:31 PM
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Re: How To Solve The US Debt Crisis?
Just throwing this out there....

Raise taxes for both individuals and corporations and close loopholes in the tax system that facilitate tax minimisation.

Introduce a G.S.T.(Goods and Services Tax)or V.A.T.(Value Added Tax).

Stop war-mongering.

Other ideas anyone?
 Quoting: 2inoz


NUCLEAR WEAPONS!

WE MUST NUKE THE STANDARDS AND POORS! AND INVADE WHATEVERS LEFT AND TURN INTO INTO A AMERICAN PUPPET!
smb
User ID: 10784665
United States
05/21/2012 08:09 AM
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Re: How To Solve The US Debt Crisis?
oh i dunno.... STOP SHIPPING OUR FUCKING JOBS over seas maybe ???


... just a thought.
 Quoting: Taz


yoda smart you are young one
Anonymous Coward
User ID: 16433005
United States
05/21/2012 08:17 AM
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Re: How To Solve The US Debt Crisis?
1. Abolish the Federal Reserve
2. Abolish Federal Income tax because it is a scam to pay a corrupt organization.
3. Withdraw all money from banks and put it into local credit unions.
4. Strategically default on all debts and mortgages. Walk away from them forever.
5. Outlaw the credit rating system that enslaves all the simple minds.
6. Arrest and imprison all bank executives responsible for fraud.
7. Arrest and give the death penalty to all of Congress, Obama, and his cabinet for crimes of high treason and conspiracy to destroy our republic.
8. Cut off all aid to the terrorist state of israel.

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