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Originally Posted by Guest
Who told China to buy US treasuries? Japan owns the second most treasury bonds. It must be them, because Japan and China are close buddies.
If foreign entities are buying treasuries in large amounts to screw around with the value of US dollars, why are we letting them do it?
Tax reform that brings in more money, and couple this with a balanced budget is the answer. Everyone that is anyone knows this. Why isn't it being done? We know what the answer to that is too. Our elected officials won't bite the hand that feeds them. which is major corporations, and the 1%.
Corporations complain about our high corporate tax rate, which is funny since they aren't paying federal income tax. Here is just a few 10 Corporate Tax Dodgers You Should Know About | BillMoyers.com
Over Two-Thirds Of Corporations Pay No Federal Corporate Income Tax |
Who told China to buy US treasuries to join the club? We did. The World Bank, the International Monetary Fund, the Bank of International Settlements.
Japan holds a lot because of WWII, part of the agreement. Saudi Arabia does too, because WE developed their oil fields, part of the deal. We got petrodollars too...free money out of the ground!
We, the Fed, determine the rates and the value of the dollar, not some piddly country smaller than many states. China is being used for it's cheap labor. China isn't "really" in the big boys club, wrong race. They're being played too.
More taxes? You mean $1.2 trillion in new taxes? That's what we borrow every year. That's $3500 in new taxes for EVERY man woman and child, a family of 4 would pay $14,000 in new taxes every year.
Let that sink into your head, EVERY year, the government borrowing is making a family of fours share $14,000. Each family of 4 would have to pay $14,000 more a year to balance the budget. Government pays half a $ trillion a year in interest payments ($500,000,000,000). Interest rates are artificially low due to printed money to keep the debt interest serviceable.
You ARE right about one thing, the corporations DO run everything...and I do mean everything.
Corporations don't pay tax, their customers do. Raise their tax, the price goes up. You pay more. Nothing is free. You gonna add that to the $14,000 for balancing the budget? This whole recovery is fake, it's the result of spending almost $10 trillion, going $10 trillion deeper in debt.