there you go again, making another convenient baseless claim, just the facts as depicted by https://www.marketwatch.com/investing/index/dxy During the 8-yr period in the W admin DXY started at 107, ended at 85; a 26.6% decrease in value During the 8-yr period in the Obama admin DXY started at 85, ended at 101; a 19% increase in value During the 4-yr in the Trust Fund baby's admin DXY started at 101, ended at 91; a 9.9% decrease in value in the first 2.5 yr of the Biden admin dxy started at 91, it is now at 102, a 12% increase in value
doom can't tax your way out of this death spiral, and austerity is politically intolerable That leaves one option, printing money.
latest eg of Commodore not understanding---not getting the BIG picture---what he had posted. the GDP is the monetary value sum of (revenue - expenditures) + production. Thanks to the success of Bidenomics, as compared to other G7 countries, the US economic pie had recovered (from the pandemic) the most
The reasons for the downgrade are not economic per se, according to Fitch, they are related to "“a steady deterioration in standards of governance over the past 20 years", specifically citing the repeated occurrence of the debt ceiling crisis and the 6 Jan insurrection as reasons for the deterioration. to remedy this nonsence, In the future, the POTUS needs to invokes the 14th Amendment; its Public Debt Clause mandates that all the government's financial obligations be met. Thus, the POTUS would no long be held hostage to the demands of the partisan crazies in Congress.
Prominent economists Larry Summers and Mohamed El-Erian, both critics of Bidenomics, joined a cohort of their peers in criticizing Fitch Ratings’ decision to downgrade the US Debt given signs of resilience in the world’s largest economy Former Treasury Secretary Summers said while there are reasons for concern about the long-run trajectory of the US deficit, the country’s ability to service its debts wasn’t in doubt. El-Erian, chief economic adviser to Allianz SE, said the downgrade was “a strange move” that was unlikely to impact markets.
Just make it illegal for anyone who does capital flight to lessen their tax burden from completely interacting with the US market. 300+ million humans in a developed society to spend on modern goods and services is a powerful bait to dangle Infront of capital owners. If they want to avoid taxes they can avoid selling to Americans in American soil. Let's see how that effects their calculations to maximize return on investment.
after the most recent downgrade of US debt, these are the remaining country that have AAA ratings on their debt, all these countries have much higher tax rates than the US; all provide nationized medicare for its citizens. should there be a capital flight from the US, as claimed by you, where is the destination?
The only thing that it'll reach them is if they don't play ball and pay US taxes they will not have access to the world's most profitable market, the American consumer base.
Doesn't Singapore have a top bracket of 22% and no capital gains tax? Singapore Tax System & Tax Rates | GuideMeSingapore - by Hawksford
This is what happens when you spend half the year under "emergency measures" because Congress won't raise the debt ceiling to play political games. The government hit its debt limit in January of this year and had to start shuffling money around in creative ways until June keep functioning. So now they have to actually legitimately borrow all the money they couldn't borrow in the first half of the year.
