Even if we ARE ALL taxed at 100% of income

[sammy the sage]

America's bill's due (as we currently know it) are UNPAID/unpayable...something you should ACTUALLY think about...instead of JUST spewing your current right/left brainwashed straight line thinking...

You know...like for YOUR children's CHILDREN sake...

oh..forget..it's a me now; me 1st society we currently live in. :faint:

Whoops..sorry to interrupt... :rolleyes:

[sammy the sage]

This person states it much better than I do and why:

this liquidity's diversion into the banking and health sectors to the relative exclusion of productive investment will create a third world economy with large pockets of wealth amongst generally reduced living standards. One cannot stimulate a failed economy into vitality while the corruption that caused the collapse still remains.

The solution is to go back to the 1980's when the median wage began to stagnate and see what changed, and begin constructing the remedies from there. I doubt this will occur as the American middle class has been almost as thoroughly indoctrinated to its own destruction as any people had been in the first half of the twentieth century, without even realizing it. Edward Bernays would have been proud.

“Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal – that there is no human relation between master and slave.” Leo Tolstoy

“Independently of its misdeeds, the mere power, the bare existence of such a power, is a thing irreconcilable with the nature and spirit of our institutions.” Nicolas Trist, secretary to Andrew Jackson, writing on the privately owned Second Bank of the United States (Schlesinger, The Age of Jackson, p.102)

http://jessescrossroadscafe.blogspot.com/

[Ocala Mike]

The solution is to go back to the 1980's when the median wage began to stagnate and see what changed

Ya think! Who was in charge then? We've been getting "trickled down on" ever since.


Ocala Mike

[cj's dad]

This person states it much better than I do and why:

this liquidity's diversion into the banking and health sectors to the relative exclusion of productive investment will create a third world economy with large pockets of wealth amongst generally reduced living standards. One cannot stimulate a failed economy into vitality while the corruption that caused the collapse still remains.

The solution is to go back to the 1980's when the median wage began to stagnate and see what changed, and begin constructing the remedies from there. I doubt this will occur as the American middle class has been almost as thoroughly indoctrinated to its own destruction as any people had been in the first half of the twentieth century, without even realizing it. Edward Bernays would have been proud.

“Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal – that there is no human relation between master and slave.” Leo Tolstoy

“Independently of its misdeeds, the mere power, the bare existence of such a power, is a thing irreconcilable with the nature and spirit of our institutions.” Nicolas Trist, secretary to Andrew Jackson, writing on the privately owned Second Bank of the United States (Schlesinger, The Age of Jackson, p.102)

http://jessescrossroadscafe.blogspot.com/

Let me offer the following as to why this economy and it's associated tax base have stagnated since the 80's.

This downturn began in the late 70's - early 80's when manufacturing, steel mills, shipyards etc .... began to disappear. The institution of strict pollution standards, union demands, tax increases, etc... drove many businesses to the point of bankruptcy.

In the 1960's and 70's, a high school graduate could get a job almost immediately after graduation. There were many semi-skilled jobs available which paid well and offered decent benefits. I'll give you some examples here in the Metro-Baltimore area:

1)- 3 steel mills -
a) Bethlehem Steel Sparrows Point employed 30,000
b) Eastern Stainless Steel employed 2-3 k
c) Armco Steel employed 2-3 k
d) additionally there were several smaller scale boutique type steel manufacturers dealing in specialty items.

2) - Auto manufacturer
a) Fisher Body General Motors - employed 3-4 k

3)- 3 Breweries
a) National Bohemian - 500-700
b) Schaeffer 500-700
c) Carling Black Label 500-700

4) - 3 shipyards
a) Beth Steel Sparrows Point 4-5 k
b) Maryland Shipbuilding and Drydock 2-3 k
c) Beth Steel Key Highway repair yard 1-2 k

5) -2 Meat processing plants
a) Esskay Meats
b) Goetzes Meats
# of employees ? Hundreds at each.

6) - 2 canneries
a) American Can Company
b) Continental Can Company
Each employed 500-1000

7) - 1 Glass Manufacturer & 1 Closure company (bottle caps, lids, etc
both employed 500-700

I'm sure there are others I have missed.

Every company listed above has ceased operations starting in the mid eighties.

Additionally,

The Port of Baltimore with the Chesapeake Bay giving easy access to the Atlantic and C&D canal expediting cargo to and from New York and Philadelphia via the Delaware Bay and shortcut to the Atlantic, employed many thousands of longshoreman. The number of longshoreman has dropped dramatically in recent years. The less cargo being unloaded/loaded also effects truck drivers and warehouse personnel on both ends.

Several food manufacturing plants have closed or curtailed production.

Conclusion:

Metro Baltimore is only one area in the nation. I'm sure this scenario has been repeated to some lesser or greater degree throughout the country.

The manufacturing base with the exception of food products has virtually disappeared.

Now, our young adults (H.S. grads) are left to look for jobs in the service industries. Those fortunate enough to attend/graduate from college face a glut of applicants looking for jobs as teachers, engineers, lawyers etc...

I don't pretend to have the answer. It seems we have become a nation of i-pod/cell phone/laptop users totally dependent on electronic interaction.

I doubt we recover from this situation.

[Native Texan III]

Even the new or replacement workers for the "service" "industries" are being hired overseas in preference. Innovation is the mother of manufacturing and manufacturing is the mother of the service industries. Once you cut out one the rest collapses. America is built for and run by and for the rich, and they have "won" - their wealth is well offshore and untaxable.

Once the debt repayments soon get to 50% of all USA tax revenue then get into the wheelbarrow business, as inflation roars away.

"The 1920's German National Railroad, along with many companies and towns issued their own inflationary currency as the German Government was unable to print money fast enough to keep up with the roaring inflation. As might be expected, these additional issues only further fueled inflation by increasing the money supply."