I see that "economics 101" seems to be doing our nation well. Massive debts, no accountability, and nothing to fall back on if it all comes apart.
I wonder what other nonsense they teach at most universities these days? That they have to teach ethics classes to business majors should be some hint.
But huge corporations aren't you or I and can find dozens of ways to dodge most of their taxes, especially when they are not doing well, like GM is right now.
This, unfortunately, is quite easy to predict.
- Bush keeps the economy afloat by any means necessarry during his next three years,
- Greenspan passes away about that time. The combined effect is that the wizard who kept everything running isn't there when the next big problem happens.
- The problem looming, of course, is a change from U.S. dollars to the Euro in world monetary funds and oil trading. 5 years at most.
That's 40% of our money's value, folks. All based upon stock-market type inflation and speculation. Once this change happens and we loose our image and leverage, we're sunk if we are trillions in debt, because everyone will start calling in their loans. Our credit rating drops, raising rates in a vicious cycle.
And Greenspan isn't there to save us. Downward spiral into a depression. China and other countries owns half of our economy in its grip by then. We make hardly anything domestically anymore, leading to a situation where we either pay high prices locally or import everything(see Japan for an example of this). Now, this is surviveable IF we don't have a huge debt. California is a good example of this - we borrowed our way out of bankruptcy, which will likely mean a repeat in a few years since nobody seems to be repaying it OR reducing what we are overspending.
You are entitled to your own opinion, no matter how misinformed or convoluted it may be. ;)
mike hunt
Joseph Oberlander wrote:
The only way one can 'dodge paying taxes' as you seem to believe is to show a loss, rather than a profit. However the fact is GM is still paying a dividend for the first quarter, on which the shareholders will pay taxes. The loss in the first quarter does not mean GM will not show a profit for the year. GM will pay taxes on all of the profits earned in the US at that time. That is something the Japanese manufactures, like Toyota, that earns profit in the US will not do. That is the point of this discussion, in case your forgot.
I would be to your advantage to not keep commenting on this subject of which you obviously have little or no knowledge
mike hunt
Joseph Oberlander wrote:
The American consumer can turn the trade deficit around in no time. Do what the Japanese consumers do to support their own economy and protect their own jobs. Buy those products made by their own corporations, in their own factories and avoid imported products whenever possible.
mike hunt
Joseph Oberlander wrote:
The US consumer is to short sighted and focused on themselves to do for the "common good".
And the problem with that is... Exactly. We don't make most consumer goods in the U.S. anymore, unlike Japan. There's nothing to fall back on compared to even twenty years ago.
The may be true if you only shop K Mart. There are plenty of American products of all types on the market, one need only look at labels. I make it a point to do just that, although it is problem to find some things that are still American made.
When it comes to motor vehicles I buy only those made by an American corporations in and American factory with mostly American parts that have a '1' as the first number of the VIN.. No Toyotas, Subarus, or BMWs that are only assembled in the US, or Crown Vics or Chrysler from Canada or Silverado or Tacomas from Mexico, and etc. for me.
mike hunt
Joseph Oberlander wrote:
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