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Tayler89 wrote: Check out Ireland.
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The irish econamy is booming right now.

Tayler89 wrote: I just would like an explaination
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Dont really have an explanation its just my theory

The irish econamy is booming right now.

Seriously, do some research and see why.

How would you reduce the debt?

britincali wrote: start paying off debts (china) .

you mean start paying off our debts to....the federal reserve.

who owes anything to china? all of our chinese goods arent bought by the federal government, they are bought through business dealings by the citizens. The federal government shouldnt owe much of anything to china.

the NATIONAL DEBT is in fact what the country owes itself. the federal reserve is run by PRIVATE CITIZENS, not anything "FEDERAL" about that.

Quick google search.....



"Take China for example. As of March of this year, China held over $321 billion worth of U.S. Treasuries, up from the $60 billion it owned at the end of 2000. Similarly, Japan now owns $640 billion worth of U.S. Treasuries, up from $317.7 billion in December 2000. Lately, however, America has also borrowed heavily from oil exporter nations (as defined by the Department of the Treasury), which include many nations that despise America. Luminaries such as Venezuela, Ecuador, Iran, Libya, Algeria, Indonesia and Iraq, and several other primarily Middle Eastern nations, now own $98 billion worth of U.S. debt. "

britincali wrote:How would you reduce the debt?

While I am no where near an expert, I would do it exactly the same way that you would minus a tax increase, since that has been consistantly shown to reduce tax revenue.

Ireland was a huge welfare state, were amongst the top in corporate tax rates in the world (48% I believe), and had one of the highest unemployment rates, which resulted in a huge welfare problem. This went on until the govt decide to cut corporate taxes to 14% (I think). The result was huge economic succes. Corporations moved in, provided jobs (so the people actually paid taxes), and drastically reduced unemployment, removing people from entitlements, (saving the govt. money) thereby increasing tax revenue in two ways.

I simply don't believe in class warfare as the answer. How do you increase taxes on corporations and small businesses without eliminating jobs and thereby recieving less tax revenue. Corporations historically have never absorbed these tax increases as losses in thier profit, they simply save money by laying people off and making due with less overhead, and/or pass that increase on to consumers who are the very ones that can't afford to pay it.

Truthfully, I could care less how rich Bill Gates gets as long as his wealth raises the standard of living for everyone else.