Well you say that, but the Rockafeller family is on of the biggest beneficiaries from the Fed, and the Fed is what America is actually indebted to, or at least pays credit too when it prints money, The Fedral Reserve is a private bank, and really has destroyed any sense of democracy in the country, as it has the money and power to wrap every politician round its finger.

I'm no way an advocate of the Murdoch's either, but his network backing the far-right tea party group, really won't be pleasing anyone concerned with the Fed still having it's license to print money, every time America needs some cash.

JFK weeks/months before he got shot said he planned to stop using the Fed and print American issue Greenback dollars, same as Lincoln did, for some reason they both appeared to get shot???

Last edited by Oo Bop Sh'bam (2011-08-03 12:01:14)

Forget taxing rich individuals, your biggest companies avoid paying billions of corporate tax owed to American's. That'd save a few pennies, but for some reason the government is happy with them not paying tax which is legally owed by law. Mainly because these people would probably be taxing themselves and not receiving full interest on the money they lend.

http://blogs.suntimes.com/sweet/2011/03/ten_giant_us_companies_avoidin.html

Last edited by Oo Bop Sh'bam (2011-08-03 12:30:07)

Last edited by Oo Bop Sh'bam (2011-08-03 16:08:19)

I pay 52% tax on all of my wages except for the first 30%. That’s because I am fully in the system, the problem is always with those who set up limited companies and have off shore banks and employ various strategies to avoid tax. You can come up with a figure that is a fair and an equitable tax for those making $1M a year, but the problem is implementing it. I know many self employed individuals who pay very little tax as they ensure they are non-resident in all locations and have various accounts and companies. This is the problem. Why should these individuals not contribute to society whilst I pay 52% tax?

Up until a decade or little more, the UK was set up to ensure that those who were self-employed could pay very little tax legitimately. Between 12-18% fully in the system, depending on how sneaky you were. They tightened down somewhat and things have changed. Those self employed engineers and consultants have squealed and complained, but they’re still better off than honest joe suckers like me. Of course greed takes over and you generally find, certainly in oil & gas, that many of these characters are being chased by several tax authorities and often end up retiring in their mid-50’s to obscure South China Sea islands or seedy flesh pits in Thailand.

As for globalisation, during the 30’s the UK brought in many tariffs and protectionism with the Commonwealth and they avoided the worse of the Depression unlike the UK and in the later half of the 30’s there was even a mini-boom all down to protectionism.

Wow, gold is above $1,675 today...