If a broad based tax such as a consumption tax does not replace the highly flawed progressive individual and corporate taxes....the US will soon have 2% of its earners paying 90% of the taxes.... And the tax take will be far below what a broad based consumption tax would produce....which will dramatically weaken the US.... What will change this ? A change in both tax and political structures....
You've got 90+% of the US population subsidized by less than 10% of the tax payers so what motivation is there for the 90% to want change or fairness in the tax code? So instead we raise taxes on the top earners to raise revenue but then we turn around and spend even more than what we took in from the tax increases.......but the tax rates for the subsidized stay the same so they don't care
Huh You've got 90+% of the US population subsidized by less than 10% of the tax payers so what motivation is there for the 90% to want change or fairness in the tax code? So instead we raise taxes on the top earners to raise revenue but then we turn around and spend even more than what we took in from the tax increases.......but the tax rates for the subsidized stay the same so they don't care ....................................................................... Exactly right.... So....What does the future hold ? Euro-Japan as the best possiblity.... And a lessor economic position is more likely.... ......................................................................... However....on a comparables basis....all currencies are being debased ....except for Norway ? Thus one would think "real commodities" would stand out.... However the prices of commodities are still controlled by demand from "fiat" currency armed citizens....