Nicolas Nguyen onto United States
Clipped Aug 3
I think the economy is getting better but not in a perfect trend as we would like. It's going to be up and down but the overall average is going to be up.
(Reuters) - Employers hired the most workers in five months in July, but an increase in the jobless rate to 8.3 percent kept prospects of further monetary stimulus from the Federal Reserve on the table. Nonfarm payrolls rose 163,000 last month, the Labor Department said on Friday, breaking three straight months of job gains below 100,000 and offering hope for the ailing economy. "It's a relief we did not post another number like 75,000, but the reality is it's not night and day. It's not as though it brings us all the way back to being wildly optimistic," said Robert DiClemente, chief U.S. economist at Citigroup in New York.
Kyle Klingman
Now, how do we simultaneously solve the problem of wealth/income inequality?
Nicolas Nguyen
Everybody pays a straight 30% tax and no write off.
Regina Walters
that will put out of business every cpa.. but i agree
Regina Walters
flat sales tax would work too
Kyle Klingman
I don't agree with people living below the poverty line (roughly $23k for a family of 4) having to pay taxes. It just doesn't seem right.
Nicolas Nguyen
Agree. It would be very tough for low income people but how could we do this in a fair way?
Kyle Klingman
Well, "fair" is quite an ambiguous word. You're bound to get many different opinions of "fair" depending on who you ask. Perhaps we could look to the Swedish model for assistance.
Nicolas Nguyen
Sorry, I am not familiar with the Swedish system. This is why our only option maybe straight 30%.
Regina Walters
problem is alot of people under-report income so even a straight 30% might not work.. a straight sales tax will though
Nicolas Nguyen
Lie about income is totally a different issue that needs to be resolved.
Kyle Klingman
A straight sales tax would not work. Despite what you may think, the rich of this country do not spend nearly as much of their incomes as do the middle and lower classes. As a result, the 'straight sales tax' approach ends up hurting the middle and lower classes more.
Nicolas Nguyen
I agree with Kyle here.