The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: gregor_us who wrote (20582)	5/28/2009 11:26:09 AM
From: KyrosL	2 Recommendations Read Replies (4) of 71475

<< there is no realistic model for US GDP that would allow us to pay off our debt now>> You are forgetting that the US still remains one of the most lightly taxed developed countries. Check out what a $4 per gallon gasoline tax and/or a 10% VAT will do: huge surpluses as far as the eye can see. And that's less than what they pay in Europe. By the way, the VAT is no longer taboo: Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look washingtonpost.com I remember well the same "woe to us ... huge deficits as far as the eye can see," in the eighties. Then Clinton came along and by the end of his terms it was "oh no, surpluses as far as the eye can see ... we can't have that, what are we gonna use as an interest rate benchmark?"

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