Why a GM Bankruptcy Would Be a Disaster...
Obama isn't just ruling on the fate of a single company. A GM
bankruptcy could devastate the very economy he is attempting
to stabilize.
By William J. Holstein
businessweek.com
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If you think a GM bankruptcy will smackdown the economy,
just wait for Obama's cap & trade carbon taxes.
Remember the words... "controlled demolition."
Can't implement the long planned UN agenda of global
governance under a singular global central bank unless
this crisis is fully levered. And it's going to be.
Has anyone read projections on what US tax rates are going
to have to be, to pay for the Orwellian police state,
two wars, the transition to socialism with new layers of
permanent bureaucracy, and the remaining looting by the
banksters?
Why do you think the G-20 threatened and extorted every
country in the the world that had banking secrecy laws,
into compliance?
With everything that's going on in the world, why were
non-G-20 nations, and their banking havens - a top G-20
priority?
It's called wealth confiscation.
There will be no where to hide your money (well, almost
no where), and they're coming after it.
Think 80-90% top tier income tax rates, and 50% middle class
federal income tax rates are impossible?
Think again.
They are not only possible - they are REQUIRED,
and they are coming.
Why do you think the bankers are stealing everything in
sight?
Because they know there isn't much time, and they know
what's coming...
From the non-partisan CBO:
And this is prior to the bailouts and the stimulus packages,
this was just for social security & medicare, and June 27, 2008
deficit levels.
heritage.org
Remember, these numbers do NOT include the $800 billion
dollar banker bailouts, the stimulus packages, and the
the ballooning deficits from TRILLIONS of new Obama spending!
The CBO was also asked to examine the economic effects of
closing the projected future deficits with an across-the-board
increase in individual and corporate marginal income tax
rates. In its response, the CBO assumes that no new future
programs will be enacted by Congress. (Obviously, assuming any
new programs would have required the CBO to increase the
needed revenue.)
According to the CBO:
Tax rates would need to be raised by "substantial" amounts to
finance projected spending. Specifically, "the tax rate for
the lowest bracket would have to be increased from 10 percent
to 25 percent; the tax rate on incomes in the current 25
percent bracket would have to be increased to 63 percent; and
the tax rate of the highest bracket would have to be raised
from 35 percent to 88 percent.
The top corporate income tax rate would also increase from
35 percent to 88 percent."[4]
"Such tax rates would significantly reduce economic activity
and would create serious problems with tax avoidance and tax
evasion. Revenues would probably fall significantly short of
the amount needed to finance the growth of spending;
therefore, tax rates at such levels would probably not be
economically feasible."[5]
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Now add your cap & trade carbon taxes to that.
Then picture rampant inflation down the road with the
accompanying loss of purchasing power, with those tax rates.
And you wonder why they want to confiscate guns?
SOTB |
