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Originally Posted by skeptic1
Perhaps the first time I have disagreed with Americano but only to the extent that he has in the above paragraph failed to differentiate between legal and illeagle employees and lack of empathy for the need for the the firm to close because of the inability to find cheap labor.
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I suggested legalizing all who work as temporary residents for purposes of tax collection and retention of threatened businesses until we come to our senses and implement a viable resident work program. Emotional resentment is still far too high in many citizens for economic reality to enter the picture.
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IMO paert of the cure is for the consumers to live within their means and quit using IOUs to pay for their excess.
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That'll eventually transpire when their credit and the country's credit is tapped out.
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If a capital gains tax had "not" been reduced or even incrased would that actually have prevented investment.
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I think its very plain that reduced capital gain taxation reduced tax revenue while encouraging capital flight of that lost revenue in an era of deficit spending.
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IMO the "West" can "never" attain wages that will compete wth low wage entities and without a curb/or control on the export of our industry and capital some of the markets in the "West" will dry up as unemployment rises.
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Due to the fact we now consume far more than we produce in a service economy and require foreign facilitation of our debt to keep the boat afloat isolation is an impossibility. Unless we crash and start from scratch.