Am I the only one hoping the US DOESN'T make a deal over debt ceiling?

Discussion in 'Markets & Economies' started by Lovey80, Dec 31, 2012.

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  1. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Malcom Gladwell wrote a peice for the New Yorker showing how, prior to the 50's in America, it was pretty much impossible to earn over $200,000 per year (Equivalent of $1M in today's money).

    There was plenty of capitalism, free enterprise and innovation and no cries of scoialism.
     
    Clawhammer, Jan 1, 2013
    #21
  2. trew

    trew Active Member Silver Stacker

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    You have to add the fact the interest on the home mortgage is tax deductible in the US as well

    They can achieve so much just by getting rid of that one line item.
    Instant higher tax revenue without changing the tax rates at all.
     
    trew, Jan 1, 2013
    #22
  3. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Last minute ditch to avoid the cliff is under way as Biden is making his way to Capitol Hill for a vote in about an hour from now.
     
    Caput Lupinum, Jan 1, 2013
    #23
  4. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    This is biased because most states (43, last I read) impose state income taxes on top of the federal income taxes (not to mention that income taxes are but one way of extracting wealth from citizens).
     
    bordsilver, Jan 1, 2013
    #24
  5. Lovey80

    Lovey80 Well-Known Member

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    Link? I'd like to read that.
     
    Lovey80, Jan 1, 2013
    #25
  6. GoldenEgg

    GoldenEgg Member

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    So they've "done a deal" - good for PM? Bad for PM? Neutral?
    If they want to start balancing the budget why not close overseas military bases.....
     
    GoldenEgg, Jan 1, 2013
    #26
  7. Lovey80

    Lovey80 Well-Known Member

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    That's THE exact reason there is a debacle of this scale in the first place. Both sides want to spend big bucks, they just want to spend them on different things.

    This should be good for PM's
     
    Lovey80, Jan 1, 2013
    #27
  8. BigSteve

    BigSteve New Member Silver Stacker

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    I think it might have been the article titled 'Talent Grab' http://www.scribd.com/doc/40469336/Talent-Grab
     
    BigSteve, Jan 1, 2013
    #28
  9. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    The White House and Congress had spent the seven weeks since the November 6 elections struggling for a compromise to protect the economy.

    Mr Obama used his White House appearance not only to chastise Congress, but also to lay down a marker for the next round of negotiations early in 2013, when Republicans intend to seek spending cuts in exchange for letting the Treasury to borrow above the current debt limit of $16.4 trillion. :rolleyes:

    http://www.theaustralian.com.au/business/us-closes-in-on-budget-deal/story-e6frg8zx-1226546012096



    The inevitable is going to happen sooner or later, keep stacking! :)

    https://www.youtube.com/watch?v=AlaarqTjWjE&list=FLIjuLiLHdFxYtFmWlbTGQRQ
     
    Holdfast, Jan 1, 2013
    #29
  10. Syd888

    Syd888 New Member

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    This newspeak makes me sick. Protecting economy my ass.
     
    Syd888, Jan 1, 2013
    #30
  11. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Peter Schiff explains the history (1913) of the US Debt Ceiling.

    It's worth watching the full video but if you are short on time, watch from 8 minutes. :)

    [youtube]http://www.youtube.com/watch?v=tj99yDMYmbg[/youtube]
     
    Holdfast, Jan 1, 2013
    #31
  12. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    [youtube]http://www.youtube.com/watch?v=uskJWrOQ97I[/youtube]
     
    Clawhammer, Jan 1, 2013
    #32
  13. GoldenEgg

    GoldenEgg Member

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    If the US needs money this guy has heaps!
    [youtube]http://www.youtube.com/watch?v=k9nNNxPsfPQ[/youtube]
     
    GoldenEgg, Jan 1, 2013
    #33
  14. Lovey80

    Lovey80 Well-Known Member

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    Lol that's an awesome piss take.

    Peter Schiff nails it yet again.
     
    Lovey80, Jan 1, 2013
    #34
  15. AngloSaxon

    AngloSaxon Active Member

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    Hmm that guy reckons gold and silver are worthless, "tanking to zero" or somesuch. :lol:
     
    AngloSaxon, Jan 1, 2013
    #35
  16. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    For interest, the next round of the debt ceiling pretend debate is due to occur sometime between mid-February to early March.
     
    bordsilver, Jan 2, 2013
    #36
  17. doomsday surprise

    doomsday surprise Well-Known Member Silver Stacker

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    I AM SICK TO DEATH ABOUT HEARING ABOUT THE DEBT CEILING!!!!!!!!!!!!! Rant over and yes I did mean to yell. :D
     
    doomsday surprise, Jan 2, 2013
    #37
  18. valuecreator

    valuecreator Well-Known Member Silver Stacker

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    :lol: This is pure genius.
     
    valuecreator, Jan 2, 2013
    #38
  19. Dogmatix

    Dogmatix Active Member

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    It's funny, but it disturbed me reading the YouTube comments at how many people didn't get that it was a piss-take.

    I know I shouldn't expect much (anything) from YouTube comments, but i thought this was so obvious, particularly as Yugoslavia is no longer a country.
     
    Dogmatix, Jan 2, 2013
    #39
  20. jparrie

    jparrie Member

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    If only it were that simple. You have forgotten State income taxes, where applicable. As far as I'm aware, the States here haven't cottoned on to that nice little earner yet.
     
    jparrie, Jan 2, 2013
    #40
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