Quote:
Originally Posted by GspotProductions
no, itīs with Trumps spending plans...
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The US has to start getting its house into order (along with many other countries) if the future isn't our children living in poverty.
It has to raise taxes by 18%, or cut spending by 18% to keep the debt from rising.
18% cut in spending will be a catastrophe and cause huge problems along the lines of the UK, Italy, Greece, etc.
Cutting taxes is insane, it has no effect on how much a country produces. The days when it did were back in the 60/70s. Because most of what people bought was built in the US. Today what you buy apart from food, shelter and some fuel comes from outside the US.
Migration also has a negative effect on taxes. You bring in people to keep wages down, you get less tax. Plus you put someone on welfare. Double Whammy. We see that in the EU.
The big winners are the 1%, they have cut their out goings and raised profits. The people have to pay the debts.