Romina Boccia: America’s Spending “Is Unsustainable” Long and Short Term
Romina Boccia joined CNBC on August 14, 2019, to discuss the deficit.
Romina Boccia is a leading fiscal and economic expert at the Heritage Foundation. Her research is focused on securing economic freedom, controlling the size and scope of government, expanding opportunity and flexibility for workers, reforming Social Security, and simplifying retirement savings.
Check out her work here: https://www.heritage.org/staff/romina-boccia
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oops… Where is the Tee Party in the Trump era?
I'm betting America can serve its Federal Debit Obligations for the next 100's years, who out there would bet against? seems no one …( sorry Romina Boccia but when come to real money it is only you in that bandwagon will you risk it?)
Neither the stock market or bond market accurately reflects the real economy. Only a confederation of dunces would think otherwise.
Consider transitioning to a decentralized 0.3% flat tax[1,2] on the $4 quadrillion liquidity flows tax base[3] instead of the 10-37% graduated income tax on a $10 trillion subset of the liquidity flows tax base[4] and average 6% sales tax plus state income taxes[5], 10% capital gains tax, excise taxes, subsidies and tariffs. Apportion these tax revenues to local governments so constituencies, through their locally elected representatives, may deliberate how their tax dollars are spent and can regulate funding of all appropriations to state and federal governments, as well as reduce property and education taxes. This tax reform would also address tax havens[6,7] and save $800 billion/year in tax collection overhead costs. Profits would rise, wages would rise and export prices would drop. Set up a sinking fund[8] to manage the national debt to maintain good standing with primary lenders to Federal debt.
1. Alternative Proposals Reform, May 11 2005 | Video | C-SPAN (2nd 5-minute speaker)
2. Taxation for the 21ST Century: The Automated Payment Transaction (APT) Tax | SSRN
3. Intraday Liquidity Flows | FRBNY
4. Summary of the Latest Federal Income Tax Data, 2017 Update | Tax Foundation
5. A List of State Income Tax Rates – The Balance
6. [PDF] Treasure Islands | Nicholas Shaxson
7. The Spider's Web – Britain's Second Empire
The bubble is going to burst and the Americans don't care as long as they get their "free" health care.
America as we knew it will be a gone.
NBC/B.S
M2 D to E at 63% China’s official at 220%, but likely near 300% or more! Shift to modern economy to US World Reserve Cryptocurrency run by US Treasury and move away from 19 Century Banking! Heritage is backing 19th Century Bankers & independent FED BS-modern global nationalized trade doesn’t need Central Banks or Buggy Whips!