Massive Wealth Destruction’

[freeatlast]

The critical question over the next decade isn’t...
http://www.moneynews.com/StreetTalk...uction/2012/04/04/id/434832?PROMO_CODE=E969-1

 

[billwald]

A person who owns a house or a farm free and clear, a person who owns a business free and clear will still own them after the recession sets in for good. Soft assets like stocks and bonds are more like tax deductible lottery tickets. In the new economy a manual skill like plumbing or car fixing might be more valuable than stock certificates.

 

[Salty]

A person who owns a house or a farm free and clear, a person who owns a business free and clear will still own them after the recession sets in for good. Soft assets like stocks and bonds are more like tax deductible lottery tickets. In the new economy a manual skill like plumbing or car fixing might be more valuable than stock certificates.

Execpt for one minor detail:
Taxes, More Taxes, Excessive Taxes

 

[billwald]

Half the US economy is under the table, trading, bartering.

Personally, I buy the argument that wages is not income. Wages are trading time for money. No one trades unless both parties come out ahead so if we are going to tax trades - the employer should pay the same tax as the employee.