How Bad Will the U.S. Economy Get?

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ALL I CAN SAY IS DONT HAVE KIDS IF YOU CANT AFFORD THEM FINANCIALLY OR EMTIONALLY

STEVE of CA 4:52AM January 30, 2010

I think we need to get to the heart of the issue.
First, the business interest or business class that exist in America is holding the nation hostage. This idea that business leaders will move their operations overseas or completely close down shop if we raise taxes on rich is absurb, anti-American and even anti-democratic. A sound nation built on democratic principles cannot come to fruition if this mentality persist that we are all self-interested individuals with a god-given right to aquire as much as wealth as possible without the slightest concern for the community, society or the biosphere. The so called business leaders of America and other affluent parts of the globe need to step up remember that with wealth and profit comes a duty to ensure the well-being of the community. Sure, there will always be some free-riders in the system, but most people on this planet are hard working and only desire to live in a society that that is stable, sociable and harmonious.
The idea that we cannot have health care, well-funded schools or social welfare programs in this countries is conducive with a mean-spirited, facist, materialistic ideology that is in complete opposistion with democracy or the teachings of Jesus.
On the other hand, the working people of America to wake up as well and understand the crux of the situation and possibilities to reconstruct a democratic society. To do so, requires that people put down the remote control or the 600 calorie drink they just bought at Starbucks and realize that solid unions, universial healthcare, public transporation and eithics are not socialist concepts, but those things necessary for a healthy democratic society in the modern world.

jimmy 3:38AM June 20, 2009

I think we should start by taking 60% of your pay Could be, but then again, you probably don't pay taxes. I bet you do get the EIC though, which is a total bull crap government entitlement program. Not only do you probably get the EIC, you probably are one of those people that piss me off at the 7/11 buying cokes and cookies with your food stamp card. History has shown that lowering taxes not only increases jobs in this country but also increases (thats right), increases tax revenues for the government. That in turn gives them more, not less, money in order to continue feeding food stamp/welfare recipients like yourself so that you can continue to breed like rabbits (probably out of wedlock) in order to create a whole new generation of mindless, lazy, good for nothing cattle who can live off of mine and eventually my childrens hard work. In my opinion, people such as yourself should be allowed to starve to death which in turn would let Darwins theory work again, survival of the fittest. But, then again, the fittest are much harder to control.

C. Daugherty of OK 2:50PM February 10, 2009

300,000 $ per yr. brokers were parasites feeding off the public. They need to go out. There are still a bunch of useless eaters sucking off the froth. This was bound to happen. Finance goes down, retail is next.

Kay Ruchards of CA 2:47PM February 06, 2009

why is it that this concept is so hard to swallow?? It is the only fair way to tax people. If you make $20,000.00 a year you pay 20% on it $4,000.00. If you make $10 million you pay 20% on it $2 million. Why are the tax codes so complex?? Take away all the shelters, put penalties on money that is funnelled out of the country and tax at an even rate for everyone rich or poor. Even if your poor you can pay 20% and even if your rich youcan pay 20%. It is the only sensible way. The whole tax code should be no more than ten pages long for everyone and evry business in the US.

Pete of MA 11:02PM February 01, 2009

Why should low income people have to pay more taxes. All the rich bible thumping republicans who live in 8,000 square foot homes should definitely pay more taxes than those who only make $36,000 per year.
I work with someone whose husband owns a business, they are millionaires, and get angry that they are forced by the gov't to pay minimum wages to their employees and they live an excessive lifestyle and even brag about it on the internet.
There's too much greed in this country, and the trickle down effect doesn't work.
I like the idea about taxing imports and taxing exports. Maybe if more exports would be taxed, more jobs could stay in America. There certainly is a trade deficit.

of MI 8:32AM January 08, 2009

taxing only the wealthy doesn't work, depending on only the government doesn't work.
75% of the downturn is psychological.
Spend a little more money. Don't be such scaredy cats.
In the mean time...learn a new way to self sufficiency. Grow a garden this Spring.

Old Woman of WA 12:58AM January 07, 2009

I think you're exactly the kind of person who would support another Smoot-Hawley Act and turn this into an even deeper depression. If we cut off trade with those nations that don't adhere to our own arbitrary labor standards, two major things will happen A.) Those affected nations will raise tariffs against our goods leading to massive losses of trade, in fact a trade war with China might result in a depression far worse than even the Great Depression. And b.) Domestic prices for goods will rise massively as supply of foreign goods would greatly be decreased, this in turn (being as this is during a recession) would increase the cost of living for everyone right at the time when people have the least money.
As to taxing companies that are outsourcing...they'll just do the sensible thing and completely abandon all holdings in the United States..why bother continuing to operate here if the business environment is so hostile. Frankly I think all your ideas if implementing would result in the U.S. being reduced to a 3rd rate world power.
Every single poster I see on this site seems to have a visceral hatred of the wealthy, where the hell do you people get off with this crap. Because someone has more money than you, you want to punish and hurt them any way you can. It's disgusting and if the wealthy flee the country thanks to people like you, you'll be the first to whine when the economy never recovers fully, after all there will be noone left to invest in new businesses and construction.

Alex of FL 3:35AM January 04, 2009

What if the United States imposed tarriffs on all goods imported from countries that manufacture goods without adhering to labor laws analogous to our own? Could the U.S. then compete against China and India etc...? Wouldn't this reduce our trade deficit, increase U.S. revenue and help to reduce unemployment?
What if every entity, person, corporation or company receiving the benefit of any "bailout" would be required to reimburse the American taxpayers, plus interest? Why can't the money be structured as a loan?
To reduce our country's debt we need to increase revenue. Revenue is money raised via taxes. Wouldn't it make sense to tax most imports? What about companies that are outsourcing services... could they be taxed too?
Guess what? We should probably all be paying more income tax...
but not to a Govt that gives it away to banks and investment brokers that through their own fraudulent conduct contributed
to the current economic woes.
Can you say restitution? My six year olds know better than to cover their eyes and throw a rock then say well, I could'nt see what was happening so I am not responsible for the broken window. Dude if you bought real estate with an A.R.M. you knew...you lost your gamble, don't cry now. But if you packaged all those high risk loans and sold them as AAA securities ...well that is fraud. That is criminal ...these entities should have to pay back their profits.
Well those are my thoughts, what do you think?

of CA 5:13PM January 03, 2009

But the notion that no tax increases can be done on anybody or anything during the recession is a fallacy. Tom Cruise and many in the Hollywood gang still get north of $20 million a movie. A-Rod still has a contract as reported. The Girls Gone Wild guy is still kickin.
Pass the 60% income tax on incomes over a million and don't delay getting it done.
Remember the Republicans' motto? "Country First!" Well, that patriotism begins at the top, boys. We need your mega-bucks to fix the country.

of 2:14PM January 02, 2009