Federal budget deficit predicted under liberal assumptions: 12.5% of the GNP this year. That's not the federal debt, that's how much money The Omabassiah says he is short - just this year. He says he needs an additional 1 dollar out of 8 just to break even in addition to all the taxes we have and plus his new taxes on the 250k+ people and also plus the half trillion dollar carbon tax. And he assumes that the new taxes on the 250k people will bring in as much money as it would have before the economy went to $%#! If you earn a living without handouts from the government, you are "rich" and "not paying your fair share". Somebody has to pay for these trillions and trillions and trillions of dollars the government is giving away, and it's sure not going be people that don't have any money.
But it's free money though. Interest rates are at zero. China continues to buyup tour treasuries because they have a surplus.
Two minutes and twenty three seconds of pure bliss watching Milton Friedman smack down Phil Donahue on the subject of capitalism. <embed src="http://www.nmatv.com/nvembed.swf?key=a0c0b97de5fb3b690855" width="480" height="370" wmode="transparent" allowscriptaccess="always" allowfullscreen="true" pluginspage="http://www.macromedia.com/go/getflashplayer" type="application/x-shockwave-flash" /></embed>
There is nothing wrong with capitalism so long as it is moderated (responsible regulation and so on). In fact, there is no better economic system. It has never been a question of either/or among thinking, well-meaning people.
that is the best response to a liberal dope I have ever seen or heard on this subject. I am now proud to say I read his textbook.