Greenspan – Very Dangerous Possibilities of Extending Bush Tax Cuts

[investor]

I don’t see a revolution either but I do see a situation so bad that there is a wide spread call to change the system to a more equitable one. (Flat tax, term limits on congress people, balanced budget mandatory, replacing the dollar with another currency, …)The book “aftershock” by weinamer (or something close to that) spells it all out. I am a little surprised that greenspan is saying something similar to what aftershock says. ( If you read between greenspan’s words). This is the first time I have heard a mainstream economist reference a catastrophe if the debt load isn’t reduced. In short, aftershock says that we are in for a dollar bubble which leads to a Treasury bond bubble/default.

[Scarlett]

While the concept of Bubbles that the authors of Aftershock has a lot of merit, I don’t think the situation is going to be as bad as they describe it there. It’s a possibility certainly, but just because they were right once, shouldn’t be the main argument why we should listen to them.

[Scarlett]

While the concept of Bubbles that the authors of Aftershock has a lot of merit, I don’t think the situation is going to be as bad as they describe it there. It’s a possibility certainly, but just because they were right once, shouldn’t be the main argument why we should listen to them.

[Scarlett]

While the concept of Bubbles that the authors of Aftershock has a lot of merit, I don’t think the situation is going to be as bad as they describe it there. It’s a possibility certainly, but just because they were right once, shouldn’t be the main argument why we should listen to them.

[Scarlett]

While the concept of Bubbles that the authors of Aftershock has a lot of merit, I don’t think the situation is going to be as bad as they describe it there. It’s a possibility certainly, but just because they were right once, shouldn’t be the main argument why we should listen to them.

[Scarlett]

While the concept of Bubbles that the authors of Aftershock has a lot of merit, I don’t think the situation is going to be as bad as they describe it there. It’s a possibility certainly, but just because they were right once, shouldn’t be the main argument why we should listen to them.

[UCGal]

[quote=Scarlett]Multi-nationals?

What do you mean? I have double citizenship and pay American taxes…[/quote]
I suspect he meant multinational corps… Corps only pay taxes on US revenues – not overseas revenues. Even if the corporation is based in the US only the US revenues are taxed.

My husband and kids are working on dual citizenship – and yes, we’ll still be obligated to pay US taxes on income earned in the US… but if we live overseas (and earn the money overseas) we can exclude the first $90k or so. If we retire overseas – and move our savings to accounts there – the income will be less than the foreign earned income exclusion and we’ll avoid paying US taxes. But we’ll pay applicable taxes to the local government.

[UCGal]

[quote=Scarlett]Multi-nationals?

What do you mean? I have double citizenship and pay American taxes…[/quote]
I suspect he meant multinational corps… Corps only pay taxes on US revenues – not overseas revenues. Even if the corporation is based in the US only the US revenues are taxed.

My husband and kids are working on dual citizenship – and yes, we’ll still be obligated to pay US taxes on income earned in the US… but if we live overseas (and earn the money overseas) we can exclude the first $90k or so. If we retire overseas – and move our savings to accounts there – the income will be less than the foreign earned income exclusion and we’ll avoid paying US taxes. But we’ll pay applicable taxes to the local government.

[UCGal]

[quote=Scarlett]Multi-nationals?

What do you mean? I have double citizenship and pay American taxes…[/quote]
I suspect he meant multinational corps… Corps only pay taxes on US revenues – not overseas revenues. Even if the corporation is based in the US only the US revenues are taxed.

My husband and kids are working on dual citizenship – and yes, we’ll still be obligated to pay US taxes on income earned in the US… but if we live overseas (and earn the money overseas) we can exclude the first $90k or so. If we retire overseas – and move our savings to accounts there – the income will be less than the foreign earned income exclusion and we’ll avoid paying US taxes. But we’ll pay applicable taxes to the local government.

[UCGal]

[quote=Scarlett]Multi-nationals?

What do you mean? I have double citizenship and pay American taxes…[/quote]
I suspect he meant multinational corps… Corps only pay taxes on US revenues – not overseas revenues. Even if the corporation is based in the US only the US revenues are taxed.

My husband and kids are working on dual citizenship – and yes, we’ll still be obligated to pay US taxes on income earned in the US… but if we live overseas (and earn the money overseas) we can exclude the first $90k or so. If we retire overseas – and move our savings to accounts there – the income will be less than the foreign earned income exclusion and we’ll avoid paying US taxes. But we’ll pay applicable taxes to the local government.

[UCGal]

[quote=Scarlett]Multi-nationals?

What do you mean? I have double citizenship and pay American taxes…[/quote]
I suspect he meant multinational corps… Corps only pay taxes on US revenues – not overseas revenues. Even if the corporation is based in the US only the US revenues are taxed.

My husband and kids are working on dual citizenship – and yes, we’ll still be obligated to pay US taxes on income earned in the US… but if we live overseas (and earn the money overseas) we can exclude the first $90k or so. If we retire overseas – and move our savings to accounts there – the income will be less than the foreign earned income exclusion and we’ll avoid paying US taxes. But we’ll pay applicable taxes to the local government.

[KSMountain]

[quote=Russell]For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.[/quote]
Quote of the week? I guess it’s still early…

[KSMountain]

[quote=Russell]For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.[/quote]
Quote of the week? I guess it’s still early…

[KSMountain]

[quote=Russell]For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.[/quote]
Quote of the week? I guess it’s still early…

[KSMountain]

[quote=Russell]For decades now our country looks like a terrible reality show called “Battle of the Welfare Queens”. The contestants are racketeers, pimps and prostitutes, who have to put bribes and arrange or pull tricks, to see who gets hit by the pain train and who gets hit by a delicious cream puff. The studio audience gets splattered with blood while the try to catch frosting.[/quote]
Quote of the week? I guess it’s still early…

[Author]

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