tag:blogger.com,1999:blog-3776665703590564248.post3648079096126726318..comments2024-03-27T01:57:19.605-04:00Comments on Return To Excellence: Government's Maximum Claim On Earned IncomeReturnToExcellence.nethttp://www.blogger.com/profile/18149859814999976879noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3776665703590564248.post-84044243393642351602021-03-07T19:51:35.510-05:002021-03-07T19:51:35.510-05:00Doug: You lead a dedicated team promoting the Fair...Doug: You lead a dedicated team promoting the Fair Tax several years ago. It provides all with incentives to maximize earnings. Unfortunately, it did not gain sufficient traction in Congress. Hence, the tax system continued to degrade with politicians seeking voters with little or no regard for the economic consequences of their tax policies. <br /><br />And our economic status just got exponentially worse with the $1.9 Trillion spending bill, much of it to Blue states severe debts. But the $1.9 Trillion will be printed $, requiring investors to finance – at what rates? Expect high rates and high inflation as year progresses. <br /><br />Evidence supporting:<br />In 2000, Total Debt to GDP as 58.87%. Now it is astounding 129.75%. Total world GDP right now is $83.84 Trillion. US 2020 GDP was $20.93 Trillion. US Debt Held by foreign countries is $7.12 Trillion. Number of additional investors of our debt is shrinking. Those remaining will demand higher rates. Fed, with limited options, may pursue policies to lead to greater inflation to cover this exploding debt. And inflation clobbers our spending power – with severe recession possibility.<br /><br />We must succinctly tell our politicians that we are playing with fire and demand we must return to sane economic policies or see our economy tank. And I think quite a few politicians need crash courses in Economics – even Economics 101/102. I’d be most happy to offer this at no charge. <br />Economics501https://www.blogger.com/profile/12001939903780698510noreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-74302768752753118342021-03-02T19:29:21.504-05:002021-03-02T19:29:21.504-05:00Not me! What did fascinate me though was that the...Not me! What did fascinate me though was that the 3rd quintile- middle class, receive more benefits than they pay in taxes. I know I definitely do!SRKnoreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-87703230426214879252021-03-02T19:27:11.181-05:002021-03-02T19:27:11.181-05:00Enjoyed your latest article. Very interesting. As ...Enjoyed your latest article. Very interesting. As presented agree with everythingJWnoreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-15785219587896443872021-02-28T23:39:50.215-05:002021-02-28T23:39:50.215-05:00Great insight as always. Whenever the issue is tax...Great insight as always. Whenever the issue is taxes, your question is one of the top 2 that I ask those participating in the discussion.<br /><br />The table gets to the heart of the matter. While most people whine they want to pay lower taxes, there is something else they want.<br /><br />Either consciously or subconsciously they secretly harbor the knowledge that they are receiving more than they are giving.<br /><br />They want that truth not to be publicly acknowledged.<br /><br />So their battle cry is to "tax the rich.” Meanwhile, most “rich” suffer from guilt or don’t want to look “greedy” or “uncaring<br /><br />Enter the politicians, whose objective is to get re-elected. Naturally they shoot for the lowest hanging fruit, handing out goodies and patronage, while demanding “the rich” pay their fair share, thereby ensuring their re-election. This is known in the private sector as extortion. In politics it is know as public service.<br /><br />So the politicians, the “one percenter” media types continue the scam, and the general public from the poor to many in the middle class, know they have a winning issue and play it for all its worth.<br /><br />To answer the question you pose at the end of your article, many people understand it. It is crystal clear. <br /><br />But those people, while claiming to care about others and future generations, really only care about themselves. The politicians know this, and even the wisdom of Thomas Sowell cannot change it. Their re-election is paramount and trumps all else.<br /><br />The future be damned.<br />DCnoreply@blogger.com