That credit/blame also goes to him ! No government can cater all, either upper or lower income. But, bringing back the economy is a major change.
Same is the case for Trump. When he wants to cut taxes for corp, he charges additional tax from people. Companies, revenue generating machines, can move out the head quarters if tax cut is not there, but it is hard for people to move out unless they relinquish citizenship. Trump is thinking if companies get tax cut, they will bring back money to USA and invest in growth.
Honestly, I really wanted to vote for Johnson. He was woefully unprepared when interviewed. Itās long-time we ended the two-party stranglehold on this country. I canāt imagine a scenario where Iād vote for Hillary though.
No wonder!
Now, I confirmed my suspicions, there was some naivety behind all that megalomaniac attack against democrats. Believing in a totally unprepared person was for uneducated people. Really!
Honestly, I donāt think Iāve ever been excited about my choices in presidential candidates. Overall, I think the government and specifically bigger government is our most pressing issue. Both parties want big government in their own way. Thatās why spending goes up and up and up as they switch power back and forth. Trump increased the Pentagonās budget when their own report shows they waste $125B/yr. Why on earth are we not cutting their budget by that $125B/yr?
Iām far more worried about social program spending than military spending. One has been significantly increasing as a percent of GDP while the other has actually declined over the last 60 years. By 2032, the big 3 entitlements and interest on debt will consume every dollar of tax revenue. Thatās not even close to a sustainable path and no one wants to address it. Restructuring the tax system to pay for it would crash the economy and get everyone voted out of office. Restructuring the programs to be sustainable would anger so many people that everyone would be voted out of office. The end result is we do nothing and remain on a collision course with economic disaster.
If I got my tax plan, Iād exempt income below the poverty line and tax everything else at a flat rate (all types of income). Thereād be zero deductions, and taxes would take a few minutes to do. Iād tax corporations on their US revenue not profits and get rid of all the deduction and credit BS. The system would be incredibly simple and treat everyone by the same rules. Lobbyists would never let that happen which is why weāre getting terrible proposals for tax reform.
Then entitlements need serious reform. Over 90% will receive more from social security and medicare than they paid into the system. That only works if you have a work force thatās growing fast enough to sustain it. We donāt anymore. Something has to give there.
The most useful thing was the Simpson Bowles commission, since they were all retiring. Both parties looked at the recommendations and immediately rejected them, since it was full of things thatād anger the base of both parties.
My guess is weāll get through the next recession although the federal reserve wonāt have room to cut rates as much as prior recessions. It will spike debt levels even more, since entitlements are increasing every year. Itāll be the recession after that one that could be make or break for the US. Itāll be much closer to when entitlements and debt are consuming every dollar of tax revenue. Entitlements will still be increasing, and the debt load will grow to crushing levels.
The statement is to catch people like you trying to stalk me
First that is 2015, not 2017.
2nd I meant S$1M not US$1M.
3rd I meant includes owner-occupied HDB + CPF, standard definition is less owner-occupied. CPF is not publicly known, and is not included as computation of wealth.
4th Donāt be offended, just see who would verify remarks.
S1M is almost the same as US1M. CPF is retirement account, right? Do they count American pension and 401k accounts?
My point is that US is still a very rich country, with a lot of rich people. We are doing pretty well here. Among forum members, 90% are millionaires I think.
GDP per cap for US is $57k whereas for Singapore is $52k. No need to argue which is better they are very close. However, America is better hands down when it comes to weather, space, and freedom
Itās more comfortable being rich in Hong Kong and Singapore. Even poor people have maids doing all the chores. Whereas in America even Jeff Bezos washes his own dishes.
Among forum members, 90% are millionaires I think. 
