On 19/04/2011 8:56 AM, Frogwatch wrote:
Here is where the USA is headed:
https://danieljmitchell.wordpress.co...ng-to-america/
Knowing this is happening, what do you do? They could tax the rich at
100% and not come close to paying the govt bills for even a year. The
"tax compliance industry" is bigger than the entire retail sector of
the US economy, that is, collecting taxes consumes more people than
all of Wal Mart, Target, Costco, etc combined. Can the beast be
reformed or should we kill it?

Yep. Even Bill Gates NW would not last a whole week and the total
confiscation of his wealth would not generate taxes next week or ever.

Sad fact is USA is in a debt-destruction spiral. Government shutdowns
or hyper-stagflation with a total economic break down are the only two
options left. The Obama-debt-spend legacy. $14.5 trillion and about to
expand? Wow... The best, and I mean the best USA can hope for is a
Japan lost decades of declining standard of living and first crisis
comes along and the poor house.

The more the government taketh away, the less the people have.

My guess is at some point the US Federal Reserve will write off US
national debt, at which point USD will decline fast as a world reserve
currency. The process has already really started. Hisotry shows us in
pounds, marks or franks, no currency is too big to fail.

--
I can assure you that the road to prosperity is not paved with
fleabagger debt.