More taxes to save US from bankruptcy?

The latest U.S. government efforts to raise the country's mammoth 14.3 trillion dollar debt ceiling, have collapsed - after a Republican opposition leader walked out of negotiations with President Obama. Unless the government can agree to raise the debt limit by August the 2nd - the country will be unable to pay its bills and will have to declare default. And the effects are being felt already - as the U.S. Federal Aviation Authority, which oversees all civil flights, begins to shut down. But critics say that it's unlikely either side will offer a solution, be it more taxes or spending cuts. RT's New York resident - Lori Harfenist, went onto the streets of the Big Apple to gauge public opinion on more taxation.

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Category:

News & Politics

Tags:

• RT
• resident rt
• lori harfenist
• Obama debt talks
• debt ceiling talks
• Obama debt ceiling
• John Boehner
• default
• US debt ceiling
• Republican
• GOP
• Senate
• hearing
• cuts
• tax
• deal
• leaves
• walks out

[deanodotdot]

With gold at all time highs why doesn't america cash in on there gold reserves? Value of reserves: $459.04 billion Holdings total: 8,965.6 tons. Oh I forgot Bernanke doesn't believe gold is money.

[aikenbcd]

Just look at the numbers:

2.2 trillion income

3.8 trillion expenses

14.3 trillion debt.

That is like a person making 40,000 Dollars a year, spending 69,000 Dollars per year having 260,000 Dollars of debt.

Now consider the US economy is weak and will probably soon need bailouts again. Then the EU is nearly broke, too and China is getting bigger and bigger.

So figure our fictional person is about to be fired and an asian dude is applying for his job.

I wouldn't want to be in his shoes.

[Autojones]

Would I be willing to pay more taxes? Wrong question, More like ; Could a honest Govt balance the budget with over $2 Trillion ? Yes, ..Obviously. Our corporate/Bank owned Govt would be running a deficit if it took-in $10 Trillion a year. The U.S. is now an Empire, and all Empires go the same way,.....Exploit the majority until total collapse.

[SittingMooseShaman]

...The District of Columbia(an alter-nation) has put up every American(the true-nation)national parks', 'monument's', reserves' & preserves' MINERAL RIGHTS(present and futures') as collateral against these debts...which is why these two political parties went helter-skelter w/the American Nations' debts -NOT, The District of Columbias' 'debt'...'OUR' debt: 'WE' elected them; So it IS OUR -"We the People"s' responsibility...we got screwed...by DC.

[makeiteasyable]

ty

[lukio583]

whwn the taxes go higher rich people will just put there money in a bank ik dubai because there are no taxes

[jesse2076]

why are they asking people who are not from the USA?

[MarmaladeINFP]

@louis345 I'm not going to argue about gold & silver. I'm tired of right-wing libertarian dogmatism.

Raising taxes creates economic growth in a way any intelligent & informed person would understand. Taxes fund public education, higher education, scientific research such as medicine, technological development such as the internet, regulatory agencies that ensure such things as food safety & beneficial business practices like Glass-Steagall, & infrastructure such as roads, bridges & clean water.

[haywood16]

@dyne313 get a job.

[dyne313]

@haywood16 Poor sad and lonely troll.

[newhoped]

@JRV95 They're not really as fucked as America but if the US does go down it'll probably cause another world world recession.