"No further increase in spending any more tax cuts will not help the United States to raise funds to repay its debts. For permanent closure of the fiscal gap need from now on every year 14 percent of gross domestic product. This is basically a revenue side of today's budget as federal revenues reaching 14.9 percent of GDP . The United States is simply a real bankruptcy, "he says in his commentary for Bloomberg professor of economics at Boston University Laurence J. Kotlikoff.
The United States must vigorously by Professor simplify and reform the tax system, health care, pension system and financial system, each of which is according to him in a "proper trouble." This is according to Kotlikoff, however, still the good news, because this is possible. In July, the IMF published an annual report on U.S. economic policy. Professor it selects two points that say that "to stabilize the debt to GDP will need significantly higher than the credited savings in the budget "and that" closing the fiscal gap requires a permanent annual resources in the budget range from 14 per cent of GDP of the United States. " Fiscal space is defined as the present value of projected expenditures, including those on official debt service and projected revenues in all subsequent years.
Today's U.S. budget revenues is 14.9% of GDP . "The IMF is saying that closing the fiscal gap on the revenue side is bluntly put an immediate doubling of income taxes for both individuals and businesses and a doubling of all federal taxes," says the professor. Such a move would allow him to realize this year's U.S. budget surplus of 5% of GDP instead of 9% deficit. "The IMF says that such surpluses United States must realize in the coming years if they want to dominate the evolution of debt. And also says that the longer they wait, the subsequent correction will be painful, "said the professor.
remainder of the article patria.cz
Where to go:
This is a canard. If the federal government will increase tax twice the population and companies, so do not select twice as much, but rather much less than today. Only possibility is a reduction in government expenditures to a minimum, the devaluation of the dollar and drastically reduced regulation and tax - just Returning from neosocialismu to capitalism.
winadmin: I think you understand that it was the author says that the U.S. is already bankrupt
To the whole world could kick again, it must inevitably go bankrupt first.
If the U.S. Fed nezestátní, neoseká deploy its powers and tough curbs on banks, including a substantial reduction in military spending (foreign military bases to reduce by 80%), renunciation of imperial efforts to conquer the world, so any sub-regulation (including proponovaného collapse of the dollar as reserve currency ) will not be successful. And the U.S. will follow the fate of the Western Roman Empire!
This is what I really wonder if they will go bankrupt and the U.S. to impose any sanctions creditors, along with how the world now sees the U.S. (a fascist state everywhere in the world fighting for resources, playing a cop on), the U.S. laid on its back. I guess then it comes to number the next step to centralize and increase the impact of the UN, after the fall of the dollar comes a new global currency, central bank world ... If I were them, I did so.
But at all disagree with that, because again we lose the centralization of most of the opportunity to decide for themselves.
And as a major plus, and will think about the benefits of central government, a world without war. Think about how they do it. As the two states get into the war. Rulers (corporations, powerful), sitting in chairs and people do the fighting, fighting against each other rigging people.
The whole thing is vylhané, the entire human evolution based on competition and a stronger won their simplified view of the world, people do not want to be, they want to survive, to be with those you love, when someone presents them as a threat to other State (manipulation), go to be. This minimum percentage vicious heartless people are those who set this system is the strongest / most ruthless wins because they can do it very well.
When the U.S. goes bankrupt, guess what happens? Who will be number one, it will not be a world where the United Nations together with the central bank takes the lead role?
This smells like shit war ... will: (((
They take it elsewhere .. correction: you can take it elsewhere ..
War? .. maybe it already is if you have not noticed
Greed, pride, narrowness .... it is time to move the rudder
U.S. only help nationalization. It is obvious that capitalism does not work. Capitalism is a mistake
The fact that politicians bring the state into bankruptcy has nothing to do with capitalism
The Lance:
)
Unfortunately, in recent years we have seen how it works ... I also nationalized the economy does not work