Where does all Americas tax money go to?

[1prophet]

Literally nothing in this post is right. Anyone who thinks the U.S. could end up like Greece doesn't understand monetary policy.

The USA Titanic is unsinkable?

 

[fskimospy]

The USA Titanic is unsinkable?

The US has debt issued in a currency it prints. Greece does not. The two can't be compared.

 

[Spungo]

The USA Titanic is unsinkable?

We're as unsinkable as Japan. Since they've introduced Abenomics (printing money to pay 100% of all new debt), their currency has only collapsed by about 35% (USD/JPY from 78 to 121) in 2.5 years. graph

 

[el padrino]

 

[sportage]

Well...
This giant astroid is heading for the earth.
They've known about this for tens of tens of years.
The tax money goes to build escape craft and deep underground shelters for the top 1% survival.
And since we are the slaves, we do all the heavy lifting through tax rather than sweat.
We pay while they don't. And in the end, they survive and we don't.
What they fail to realize, we the slaves will survive as mutated flesh eating zombies and
we will eat their face off.
And all that money and effort they invested in those interplanetary vehicles in hopes with saving their ass, well they won't even get off the ground.
ZIpppp, fizzzzz, plop.
And as they lay there moaning in all that space debris, we will do ourselves some big time face chewing.
And they thought theirs was a fool proof plan. HaHa... yeah right.

ps.
I hear the ears taste like chicken.

 

[cbrunny]

That's almost the plot of the 100.

 

[unokitty]

The USA Titanic is unsinkable?

 

[sphenodont]

The USA Titanic is unsinkable?

What realistic alternatives are there to the US Dollar as a global reserve currency?

 

[Knowing]

Abusing the USD as reserve currency will only speed alternatives. See also, BRICS.

Note: every previous dominant reserve currency is no longer the dominant reserve currency.

 

[dank69]

Abusing the USD as reserve currency will only speed alternatives. See also, BRICS.

Note: every previous dominant reserve currency is no longer the dominant reserve currency.

Spoken like a complete imbecile.

 

[Knowing]

Spoken like a complete imbecile.

Thank you for your well reasoned and valuable response.

 

[dank69]

Thank you for your well reasoned and valuable response.

All previous world records are no longer world records. If you don't see what is wrong with this statement and yours there is no helping you.

 

[Knowing]

All previous world records are no longer world records. If you don't see what is wrong with this statement and yours there is no helping you.

Your profound insights are useful and substantial; please do not hesitate to benefit us all with your nuggets of wisdom in the future.

 

[dank69]

Your profound insights are useful and substantial; please do not hesitate to benefit us all with your nuggets of wisdom in the future.

Yes, that is a great response to your silly statement.

 

[Knowing]

Yes, that is a great response to your silly statement.

I for one will be taking a few moments to allow your criticism to marinate so that I can be sure I have captured the marrow of your argument.

 

[dank69]

I for one will be taking a few moments to allow your criticism to marinate so that I can be sure I have captured the marrow of your argument.

I don't think any amount of time will help you. All of my previous height chart measurements are no longer my current height. Therefore, it stands to reason that I will grow some more at some point.

 

[nickqt]

US taxes perform a few things.

1. They keep inflation down as taking money out of circulation literally keeps inflation down.

2. It is (was) used as policy to attempt to get the richest people in the solar system to invest in their own country, rather than being multinational citizens who struck it rich here and now chase capital around the world. i.e. from the 1930s until the 1960s/70s, tax policy was used to get them to reinvest their assets into their equipment, employees, benefits, etc, so that they could get tax deductions.

The ultra rich were still ultra rich, but we used to make them reinvest their money back into the country that allowed them to get rich. Hence, a middle class where people without 4-7 year degrees could live comfortably on one income while assuring that their children would likely have better lives, or at the least, decent lives comparable to their parents.

But then neoliberals came in. As stewards of the evil gub'mint, they ushered in tax decreases paired with "Free Trade", so that the jobCreators™ could take their money and run. They've run to India, China, and anywhere else where they could pay slave wages without regard to regulations protecting workers or the environment.

And of course the middle class is shrinking. Not because they are dumb, or spend/borrow too much, but because the tax and trade policies that created the middle class from the 30s-70s has been broken. All so the richest people can be even richer. Because for many of them, life is a game, and net worth = high scores. Explain to me how a Walton family member accruing their 21st billion dollars helps anyone. But I digress.

Fiat currency in general and the US Dollar specifically works out well when they are circulating and everyone in the population has a chance to touch it. Ultimately, every dollar that some member of the rabble holds onto is spent and goes into the pocket of a large corporation or bank. Letting them hold more of them before it ends up in a corporate/bank bank account is what makes for a good economy. Instead we now have almost all new dollars starting out in corporate/bank bank accounts. It's as simple as that. Everyone else is struggling trying to find circulating dollars.

 

[Knowing]

I don't think any amount of time will help you. All of my previous height chart measurements are no longer my current height. Therefore, it stands to reason that I will grow some more at some point.

Rest easy, I'll take as long as is absolutely necessary. Thank you for bringing a personal example to this enlightening conversation. It is likely that you're still growing as I'm fairly confident that the user known as dank69 is not actually a self-aware artificial construct. I never would have thought to reduce my example to the experience of a single human being, though that might be easier for some to understand.

For example, the richest person in the world will probably die and then they won't be the richest person in the world anymore.

It's so fun to play with axioms!

 

[glenn1]

Where does all Americas tax money go to?

It goes to the poor of course. That's why income inequality is on its way down and our big cities are the most economically equal places in the country, because Democrats who run them care and share.

 

[Sonikku]

Well...
This giant astroid is heading for the earth.
They've known about this for tens of tens of years.
The tax money goes to build escape craft and deep underground shelters for the top 1% survival.
And since we are the slaves, we do all the heavy lifting through tax rather than sweat.
We pay while they don't. And in the end, they survive and we don't.
What they fail to realize, we the slaves will survive as mutated flesh eating zombies and
we will eat their face off.
And all that money and effort they invested in those interplanetary vehicles in hopes with saving their ass, well they won't even get off the ground.
ZIpppp, fizzzzz, plop.
And as they lay there moaning in all that space debris, we will do ourselves some big time face chewing.
And they thought theirs was a fool proof plan. HaHa... yeah right.

ps.
I hear the ears taste like chicken.

 

[nickqt]

It goes to the poor of course. That's why income inequality is on its way down and our big cities are the most economically equal places in the country, because Democrats who run them care and share.

Actually, tax money doesn't go anywhere. It stops existing, because it's just a number on a ledger.

That said, you can point to states like California and to states like Mississippi and ask which one offers a better quality of life, while also looking to see if the state is able to balance its budget. But, that would be unfair. So would looking at cities run by TrueAmerican™ Republicans that are doing awful. Totally unfair.

Or perhaps we could stop cutting the tax rate on the wealthiest humans in the solar system like we have been over the past 40 years, stop handing money to the MIC to use to open markets for the business interests of the wealthiest people in the solar system, like we have since Day 1, and reinvest in our own country by building a modern country, rather than letting 60-100 year old infrastructure crumble so that we can afford more tax cuts for the wealthiest people in the solar system. Of course, reinvesting in our own country is socialism, comrades. We can't have that. Instead, let's try more tax cuts. This time they'll work. Honest!

 

[OverVolt]

We aren't even pulling a surplus, we're pulling a deficit.

 

[deafeninsilence]

We aren't even pulling a surplus, we're pulling a deficit.

But everybody has hope, right?

 

[thraashman]

This is why I don't understand eating and exercising like a monk to live to be 100. Who wants to live through that shit? Hand me a baconator and bury me at 60.

I get your point here. But look at it this way, if you're healthier and in shape, you get more BJs in those 60 years. So eat healthy-ish, work out, and take massive idiotic risks like not using a condom or peeing on a pit of pissed off cobras. Then you can still die at 60, but be healthy and get some ass while you're alive.

 

[Knowing]

http://www.nytimes.com/2015/03/18/b...oin-asian-infrastructure-investment-bank.html

BRUSSELS — Ignoring direct pleas from the Obama administration, Europe’s biggest economies have declared their desire to become founding members of a new Chinese-led Asian investment bank that the United States views as a rival to the World Bank and other institutions set up at the height of American power after World War II.
The announcement on Tuesday by Germany, France and Italy that they would follow Britain and join the Chinese-led venture delivered a stinging rebuke to Washington from some of its closest allies.

and in case no one saw the dollar last night...
http://seekingalpha.com/news/2377766-dollar-off-sharply-as-fed-slows-rate-hike-estimates

• It's a rare selloff for "King Dollar" as the FOMC drops "patient" from its policy statement, but otherwise lets the doves loose as it cuts back on its forecast for GDP growth, inflation, and the pace of rate hikes.
• The dollar (UUP -1.1%) is lower across the board, particularly vs. the euro (FXE +1.3%), swissie (FXF +1.8%), aussie (FXA +1.3%), and loonie (FXC +0.4%).

It recovered this morning, but let's not pretend that the dollar is invincible.