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Posted

(i.e. "spend our way out of this recession")

That's generally the best cure for an economy in pre-depression stages.

According to the Internal Revenue Service, the 400 richest American households earned a total of $US138 billion, up from $US105 billion a year earlier. That's an average of $US345 million each, on which they paid a tax rate of just 16.6 per cent.

Filed: Country: United Kingdom
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Posted

That's generally the best cure for an economy in pre-depression stages.

Perhaps, but shouldn't the government radically reduce spending to pay off the debt when the economy is booming again?

Yet, they never do. Budgets go up when times are good, and up when times are bad.

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Posted

Perhaps, but shouldn't the government radically reduce spending to pay off the debt when the economy is booming again?

Yet, they never do. Budgets go up when times are good, and up when times are bad.

Ronnie Reagan and Tip O'Neill never quite figured that one out, and sad to say, we have been stuck with that model ever since.

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”

John Maynard Keynes

Posted
:dance: :dance: :dance::rofl:

"I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for mine."- Ayn Rand

“Your freedom to be you includes my freedom to be free from you.”

― Andrew Wilkow

 

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