Discussion»Statements»Rosie's Corner» The "Tax Reform Bill" passes! IF what is promised to the middleclass (tax cuts) never happens will they just suck it up and roll over? Why?
According to Trump he and his wealthy cronies won't benefit one whit. All the benefit will accrue to the middle class whose tax cuts will be enormous and huge and the best in the world. Trump said his wealthy friends told him they didn't need tax cuts but the middle class did. Now Trump lies every time he opens his mouth. Any time he does anything that doesn't benefit him most and best and first a cow will jump over the moon and he** will freeze over. Of course I could be dead wrong. He might be telling the truth and estate taxes won't be eliminated and huge tax cuts to corporations and the wealthy won't happen. Only the middle class will benefit. It could happen, right? Word to the wise. Don't hold your breath. Thank you for your reply JakobA and Happy Wednesday! :)
This post was edited by RosieG at October 25, 2017 7:55 AM MDT
The nation will collapse no matter what they do. Signs of a cultural collapse have been showing since shortly after WW2. No nation has ever avoided a collapse after the signs began to show. A financial collapse began in 1971 when Nixon abolished gold backing for the USD. Every use of unbacked paper money in history has led to a collapse in about 40 years.
You sound like a Gold is the only True currency fan. I tend to swing more the other way.
For one thing GOLD does not have a stable value, Look what happened to the Spanish economy after the gold of the Inca started flowing in from the new world, rampaging inflation because now there sudeenly was way too much money for the goods produced. And then after the california gold rush another such economic crisi brought on by all the new gold that flowed into the US economy, and again after the Alaska gold rush the samr thing one more time. Gold is a product and when it gets over-produced (or under-produced) it changes value just as paper money do when we print too many (or too few) dollar bills.
The only difference is that Gold is a natural resource, and it is impossible to tell when the next big Gold mine will be found. Using economists to 'regulate' the inrush of new money you can at least plan ahead a bit. And try to make sure that the money flowing around fit with the amount of goods flowing around.
Of course stupid Politicians can still screw up everything, as I think they already have with this "Service Economy" Idea that came in during the last 20 years. Balancing the amount of money to the amount of services rendered between people sound rather unsafe. Can we really count on having the same number of Hookers and Escort girls 5 years from now? Or dentist, Or dental problems to make dentists needed. Science marches on, and we cannot stop it, it is amazing how few SF writers wrote about Cell phones before they started appearing in the stores. A major point of the future is that we cannot predict it as accurately as we want to. Or need to.
This post was edited by JakobA the unAmerican. at October 26, 2017 10:37 AM MDT
Yes, it's true: you can't eat gold. And you can't shoot beans. And you can't drive bullets. And a car is a lousy store of value. All these things are called commodities, and when you need one you need it -- no substitutes.
The thing about money is that if it is not backed by anything, it isn't worth anything and the market collapses. I am aware that some people totally hate gold and will trot out any number of philosophies to support their position. That's ok. I spoke of history, not the philosophy of gold as money. History is a lot more reliable. The nation will collapse, just as nations have always collapsed. Every one so far.
JakobA the unAmerican. 