If $307 Trillion Doesn’t Scare You, This Should

[Highmark]

Western industrialized countries continue to spend like drunken soldiers and the US might be the worst.

 

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”

https://www.forbes.com/sites/williampesek/2023/09/24/if-307-trillion-doesnt-scare-you-this-should/?sh=677105404a9f

 

https://www.oann.com/business/as-global-debt-worries-mount-is-another-crisis-brewing/

Over 80% of the $10 trillion rise in global debt in the first half to a record $307 trillion came from developed economies, the Institute of International Finance says.

 

[ArcticCrusher]

Nothing to see.

[T1R9sledder]

And WW3 is just around the corner....we wokeness but it's the wrong kind of woke...

[Crnr2Crnr]

Granted, the Powell Fed is making up for two big errors. The first was in 2019, when Powell bowed to then-President Donald Trump’s bullying. As the Fed began cutting rates to placate Trump, it added stimulus the economy didn’t need.

whuuuuut? 

 

 

However, 35% of Americans reported that they’re in the most debt of their lives. New York Fed data shows that U.S. household debt swelled to $17.06 trillion last quarter, with credit card balances making up about $1.03 trillion of it — a new high for credit card debt. 

https://money.com/average-american-personal-debt-amount/

 

 

[revkevsdi]

7 minutes ago, Crnr2Crnr said:

Granted, the Powell Fed is making up for two big errors. The first was in 2019, when Powell bowed to then-President Donald Trump’s bullying. As the Fed began cutting rates to placate Trump, it added stimulus the economy didn’t need.

whuuuuut? 

 

 

However, 35% of Americans reported that they’re in the most debt of their lives. New York Fed data shows that U.S. household debt swelled to $17.06 trillion last quarter, with credit card balances making up about $1.03 trillion of it — a new high for credit card debt. 

https://money.com/average-american-personal-debt-amount/

 

 

The richest 1% own as much as the next richest 60%. 50% of the 60% believe if the government would give just a few more tax breaks to the 1% that would help them join the 1%. 
 

Reality check. That’s not wealth trickling down, they’re pissing on you. 

[BOHICA]

Country hasn’t been conservative or fiscally responsible at all in the 21st century. 

[Crnr2Crnr]

25 minutes ago, revkevsdi said:

The richest 1% own as much as the next richest 60%. 50% of the 60% believe if the government would give just a few more tax breaks to the 1% that would help them join the 1%. 
 

Reality check. That’s not wealth trickling down, they’re pissing on you. 

I know...

10 minutes ago, BOHICA said:

Country hasn’t been conservative or fiscally responsible at all in the 21st century. 

yup... I'd go back to the early 90's for sure. 

 

 

[toslow]

It’s trumps fault 

[EvilBird]

4 minutes ago, toslow said:

It’s trumps fault 

Most defiantly !  

[toslow]

Just now, EvilBird said:

Most defiantly !  

Thought i might as well kick it off in this thread cause we all know it’s coming 

[Highmark]

43 minutes ago, revkevsdi said:

The richest 1% own as much as the next richest 60%. 50% of the 60% believe if the government would give just a few more tax breaks to the 1% that would help them join the 1%. 
 

Reality check. That’s not wealth trickling down, they’re pissing on you. 

To be in the worlds 1% income you only need to make about $35K per year.  

https://foreignpolicy.com/2012/02/27/were-all-the-1-percent/

So by global standards, America’s middle class is also really, really rich. To make it into the richest 1 percent globally, all you need is an income of around $34,000, according to World Bank economist Branko Milanovic. The average family in the United States has more than three times the income of those living in poverty in America, and nearly 50 times that of the world’s poorest. Many of America’s 99 percenters, and the West’s, are really 1 percenters on a global level.

Western middle classes actually get back a good deal more from government than they pay in. Political scientists Vincent Mahler, David Jesuit, and Piotr Paradowski examined the benefits — from pensions to child welfare payments — that taxpayers, rich and poor, in 12 European countries and the United States received. They found that the middle 60 percent of the population had a larger income share after taxes and transfers than before. Thanks to the good folks at the Internal Revenue Service, the broad slice of the U.S. middle class gets 3 percent more of the income pie after taxes and transfers. And that doesn’t account for a range of state subsidies for public goods like colleges and universities that disproportionately benefit the middle classes

Edited October 18, 2023 by Highmark

[T1R9sledder]

12 minutes ago, Highmark said:

To be in the worlds 1% income you only need to make about $35K per year.  

https://foreignpolicy.com/2012/02/27/were-all-the-1-percent/

So by global standards, America’s middle class is also really, really rich. To make it into the richest 1 percent globally, all you need is an income of around $34,000, according to World Bank economist Branko Milanovic. The average family in the United States has more than three times the income of those living in poverty in America, and nearly 50 times that of the world’s poorest. Many of America’s 99 percenters, and the West’s, are really 1 percenters on a global level.

Western middle classes actually get back a good deal more from government than they pay in. Political scientists Vincent Mahler, David Jesuit, and Piotr Paradowski examined the benefits — from pensions to child welfare payments — that taxpayers, rich and poor, in 12 European countries and the United States received. They found that the middle 60 percent of the population had a larger income share after taxes and transfers than before. Thanks to the good folks at the Internal Revenue Service, the broad slice of the U.S. middle class gets 3 percent more of the income pie after taxes and transfers. And that doesn’t account for a range of state subsidies for public goods like colleges and universities that disproportionately benefit the middle classes

You need to quit blowing up talking points. LOL

[Crnr2Crnr]

1 hour ago, Highmark said:

To be in the worlds 1% income you only need to make about $35K per year.  

https://foreignpolicy.com/2012/02/27/were-all-the-1-percent/

So by global standards, America’s middle class is also really, really rich. To make it into the richest 1 percent globally, all you need is an income of around $34,000, according to World Bank economist Branko Milanovic. The average family in the United States has more than three times the income of those living in poverty in America, and nearly 50 times that of the world’s poorest. Many of America’s 99 percenters, and the West’s, are really 1 percenters on a global level.

Western middle classes actually get back a good deal more from government than they pay in. Political scientists Vincent Mahler, David Jesuit, and Piotr Paradowski examined the benefits — from pensions to child welfare payments — that taxpayers, rich and poor, in 12 European countries and the United States received. They found that the middle 60 percent of the population had a larger income share after taxes and transfers than before. Thanks to the good folks at the Internal Revenue Service, the broad slice of the U.S. middle class gets 3 percent more of the income pie after taxes and transfers. And that doesn’t account for a range of state subsidies for public goods like colleges and universities that disproportionately benefit the middle classes

 

wh00rAY wE'rE rYcH!¡!!!¡!!! 

 

 

 

[Highmark]

Just now, Crnr2Crnr said:

 

wh00rAY wE'rE rYcH!¡!!!¡!!! 

 

 

 

On the world stage we are. 

[Crnr2Crnr]

2 minutes ago, Highmark said:

On the world stage we are. 

c'mon, that's granny from the Beverly Hillbillies. 

[Highmark]

Just now, Crnr2Crnr said:

c'mon, that's granny from the Beverly Hillbillies. 

Its funny but it doesn't change the truth. 

[revkevsdi]

1 hour ago, Highmark said:

To be in the worlds 1% income you only need to make about $35K per year.  

https://foreignpolicy.com/2012/02/27/were-all-the-1-percent/

So by global standards, America’s middle class is also really, really rich. To make it into the richest 1 percent globally, all you need is an income of around $34,000, according to World Bank economist Branko Milanovic. The average family in the United States has more than three times the income of those living in poverty in America, and nearly 50 times that of the world’s poorest. Many of America’s 99 percenters, and the West’s, are really 1 percenters on a global level.

Western middle classes actually get back a good deal more from government than they pay in. Political scientists Vincent Mahler, David Jesuit, and Piotr Paradowski examined the benefits — from pensions to child welfare payments — that taxpayers, rich and poor, in 12 European countries and the United States received. They found that the middle 60 percent of the population had a larger income share after taxes and transfers than before. Thanks to the good folks at the Internal Revenue Service, the broad slice of the U.S. middle class gets 3 percent more of the income pie after taxes and transfers. And that doesn’t account for a range of state subsidies for public goods like colleges and universities that disproportionately benefit the middle classes

I was talking about the US. But hey if the 1% can buy their way to tax cuts and the Supreme Court and you are cool with that, keep justifying. 

[SnowRider]

Nothing a few more tax cuts can’t solve….