What makes you smile?

[Burgs]

That Americans think that slugging the richest 3% of their population and making a few minor spending cuts will save their arse...

[shasta]

Hmmmm. Don't wanna get too serious here; but that does NOT make me smile.

Well maybe just a little wry one
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[fulvio sammut]

When you appreciate that 3% of Americans own 90% of the wealth of the Nation, it makes a whole lot of sense.

[travelling_gerry]

In the United States, wealth is highly concentrated in a relatively few hands. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.1%. Table 1 and Figure 1 present further details, drawn from the careful work of economist Edward N. Wolff at New York University (2012).

[Burgs]

They are still only 3%, so unless you plan to tax them at something in the order of 90% of their wealth (not income, that wouldn't be anywhere near enough) it aint going to help much. Michael Bloomberg is worth $22b, perhaps he can have a crack at paying out some of New York States $334b debt, Last I saw it isn't a crime to be rich. It could also be argued that those who have successfully made their own dollars are better suited to distributing it to the community through philanthropic pursuits than the public servants who have managed countries to the brink. Until the average Joe is made to feel some ownership for both the problem and getting the elected officials they deserve then it is all bandaid talk.
When you appreciate the enormity of the issue it makes far less sense.

http://www.usdebtclock.org/index.html

[shasta]

unless you plan to tax them at something in the order of 90% of their wealth (not income, that wouldn't be anywhere near enough) ........

When you appreciate the enormity of the issue it makes far less sense.

To your first point; next to useless really, as the richest individuals routinely manage to have next to no assessable income. A wealth tax? Don't like the chances.

To your second; that's why nobody is smiling. The home of the free (market) is the next biggest basket case after the Greeks, Spaniards and Italians.
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[fulvio sammut]

A State debt used to build and maintain infrastructure and to acquire state owned assets over which the debt is secured, is not, nor ever has been, a problem, except to conservative political parties and right wing media, and then only when they are out of power.

How can you give a dollar value to a Government debt without also taking into account the social needs it satisfies and the community assets it purchases? If you buy your own home by borrowing from a bank, are you therefore a bankrupt on the basis of the amount you have borrowed because you don't take into account the asset you acquired?

As I understand the taxes being imposed, they are not just a five percent increase on the taxes payable by people earning over $450,000 per annum, but also inheritance taxes and laws preventing Family Trusts continuing in perpetuity. Over time these taxes will force the obscenely rich to pay their fair share of their social obligations, instead of riding on the backs of the middle classes, the low paid and the poor, who with less than 20% of the Nations assets, pay the great majority of the US taxes collected.

And by the by, it wasn't public servants who brought the great nations of Europe and the United states to the brink, but the rotten to the core international bankers, their auditors and accountants with their Gordon Gecko rapaciousness and complete lack of moral compass who carry the responsibility for that little lot.

And if you think I'd trust the likes of Gina Rinehart, who can't even see fit to pay her own children what was left to them by their grandfather, to philanthropically look after the needs of the afflicted and dispossessed of this country, then you misunderstand me.

[brokendown gunfighter]

The US,the land of the free--where it is considered so safe that it is proposed that armed guards(& teachers) will be needed at all schools.
the one good thing about the fiscal cliff is that the US will have to cut back on military spending & their aggressive foreign policy

the one thing that makes me smile a little is that i have shares in a company that is buying residential property in Hudson County & is generating quite good returns

[Burgs]

The elected monkeys are the ones who have helped set the rules that has seen the present situation unfold and the judiciary not holding those who break the rules to account. Give an inch and the middle level wealth hungry will take a mile. These aren't the "obscenely rich", they are driven clamberers that you are aiming at.
As for the highbrow level of social obligations and moral compass debates I think it would be a long time before we would come to agreement Fulv, though I think those listed here, for one example, have some idea of both. http://en.wikipedia.org/wiki/Philant...idual_bequests

Regardless, it still makes my smile that "they" think it is enough to get them out of the shit.
Populist pap.

[hertryk]

What do you mean, you haven't got your letter yet?

Nope! I rang them today,and they said they would put the pack in the mail, but hubby is going to collect it for me from HQ! Can't risk that going astray... Very very excited about my seat... Roll on the start of the season... Missing Sharpie already...

[jono]

F**k this shit o'clock!
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[Ecky]

How some threads reunite some lost souls and they share their tuppence worth

Welcome back guys! (I guess)

[hertryk]

Pack received... At Last... Lanyard and Calendar about all I will use. OH! I'll put the member sticker on my trike..but I may have run out of room.. LOL!!!

[DarthMoose]

The White House's official response to a petition calling for the construction of a Death Star:

https://petitions.whitehouse.gov/res...-youre-looking
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[Sheikh]

The White House's official response to a petition calling for the construction of a Death Star:

https://petitions.whitheouse.gov/res...-youre-looking
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NASA's Commercial, Crew and Cargo Program Office (C3PO)