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  1. #7516
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    16,968

    Re: Economic News/Discussion

    The numbers will go up and down.
    About 47 percent will pay no federal income taxes at all for 2009. ...

    In 2007, about 38 percent of households paid no federal income tax, a figure that jumped to 49 percent in 2008, according to estimates by the Tax Policy Center.
    It'll be interesting to see numbers from 2010 and 11.

    It would also be interesting to see how many people have intentionally gone Galt on the entire mess or have done so to hide (illegals, sex offenders, felons, etc.). Add it all up and you'd have an honest number. Probably well over 50%.

    Whatever the number, it makes Obambi's "shared sacrifice" a big arsed joke on reality.

  2. #7517
    Joined
    Nov 2001
    Location
    E n g l a n d
    Posts
    10,979

    Re: Economic News/Discussion

    Thus spake Peter Schiff


  3. #7518
    Joined
    Sep 2008
    Location
    Crazy AZ USA
    Posts
    3,516

    Re: Economic News/Discussion

    Quote Originally Posted by Enmore View Post
    Thus spake Peter Schiff

    Great outfit!
    "We say in our platform that we believe that the right to coin money and issue money is a function of government....

    Those who are opposed to this proposition tell us that the issue of paper money is a function of the bank and that the government ought to go out of the banking business. I stand with Jefferson rather than with them, and tell them, as he did, that the issue of money is a function of the government and that the banks should go out of the governing business."

    William Jennings Bryan.

  4. #7519
    Joined
    Mar 2002
    Location
    California
    Posts
    24,157

    Re: Economic News/Discussion

    Quote Originally Posted by Enmore View Post
    Thus spake Peter Schiff

    ^^^ "The minute we can't borrow any more money.. we're not paying back any of the money we've already borrowed"

    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  5. #7520
    Joined
    Sep 2008
    Location
    Crazy AZ USA
    Posts
    3,516

    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post
    ^^^ "The minute we can't borrow any more money.. we're not paying back any of the money we've already borrowed"

    Yet another take ->


    One son does speak Mandarin ....

    FYI- Gramm Rudman-
    http://en.wikipedia.org/wiki/Gramm%E...ced_Budget_Act

    Some links to other jokes in there as well. Too bad it isn't comedy.

    A take away from this- know what you're doing and
    stay diversified.
    "We say in our platform that we believe that the right to coin money and issue money is a function of government....

    Those who are opposed to this proposition tell us that the issue of paper money is a function of the bank and that the government ought to go out of the banking business. I stand with Jefferson rather than with them, and tell them, as he did, that the issue of money is a function of the government and that the banks should go out of the governing business."

    William Jennings Bryan.

  6. #7521
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    16,968

    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post
    ^^^ "The minute we can't borrow any more money.. we're not paying back any of the money we've already borrowed"

    I tried that once.

    It didn't work out that well.

  7. #7522
    Joined
    Mar 2002
    Location
    California
    Posts
    24,157

    Re: Economic News/Discussion

    Quote Originally Posted by Dutchcedar View Post
    I tried that once.

    It didn't work out that well.
    It's a bit different for the US...
    When you owe the bank $100,000 they own you..
    When you owe the bank $14,500,000,000,000, you own them..


    "The most dangerous myth is the demagoguery that business can be made to pay a larger share, thus relieving the individual. Politicians preaching this are either deliberately dishonest, or economically illiterate, and either one should scare us...
    Only people pay taxes, and people pay as consumers every tax that is assessed against a business."


    -The Gipper


  8. #7523
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    16,968

    Re: Economic News/Discussion

    Quote Originally Posted by AMDScooter View Post
    It's a bit different for the US...
    When you owe the bank $100,000 they own you..
    When you owe the bank $14,500,000,000,000, you own them..


    Well yeah... and then they tell ya which junk you have to back for them and then... they tall ya they're gonna lower your credit rating.

    Hey, I don't understand much of this mega-money stuff, in spite of trying real hard to get it. Heck, I even watch Peter Schiff videos on dial-up. I have this million barrier. Up to about a million of anything... I get it. More than a million... well, that's Carl Sagan territory.

    Who'dathunk the dollars we owe approach the number of stars...

  9. #7524
    Joined
    Aug 2010
    Location
    Milwaukee, Wisconsin
    Posts
    6,010

    Re: Economic News/Discussion



    ^ $100



    ^ $10,000



    ^ $1,000,000



    ^ $100,000,000



    ^ $1,000,000,000



    ^ $1,000,000,000,000

    Yes, those pallets are double-stacked. Don't forget they're $100 bills, too.

    Just imagine that last picture 14.5 times bigger. That's how much our government has spent beyond its means.

    Picture from here.

  10. #7525
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    16,968

    Re: Economic News/Discussion

    Dammit, Keven... I thought I understood a million bucks.

    I would've sworn it was bigger than this:



    Thanks.

    For poppin' my bubble.


  11. #7526
    Joined
    Mar 2003
    Location
    Oregon
    Age
    35
    Posts
    6,499

    Re: Economic News/Discussion

    Quote Originally Posted by Keven View Post


    ^ $100



    ^ $10,000



    ^ $1,000,000



    ^ $100,000,000



    ^ $1,000,000,000



    ^ $1,000,000,000,000

    Yes, those pallets are double-stacked. Don't forget they're $100 bills, too.

    Just imagine that last picture 14.5 times bigger. That's how much our government has spent beyond its means.

    Picture from here.
    Awesome!

    My sister is a Montessori teacher and they do these types of exercises with the kids at around age 2 to give them the proper perspective on just how big and how small things really are. It gets even cooler when you get into the 0.1, 0.01, 0.001, 0.0001, etc.

    I still think the coolest think I ever learned was that there are 602214000000000000000000 molecules in a gram of water. For those keeping score, that's about twice as many molecules in the water as we have dollars in debt

  12. #7527
    Joined
    Apr 2002
    Posts
    8,072

    Re: Economic News/Discussion

    How tall is a trillion pennies?

  13. #7528
    Joined
    Sep 2003
    Location
    Kern River Valley, CA
    Age
    66
    Posts
    9,461

    Re: Economic News/Discussion

    How many molecules are there in a trillion dollars worth of $100 bills?

  14. #7529
    Joined
    Aug 2010
    Location
    Milwaukee, Wisconsin
    Posts
    6,010

    Re: Economic News/Discussion

    There are 700 billion molecules in one dollar bill according to Google, so there would be 7x10e21 molecules in a trillion dollars.

  15. #7530
    Joined
    Nov 2001
    Location
    E n g l a n d
    Posts
    10,979

    Re: Economic News/Discussion

    Quote Originally Posted by Dutchcedar View Post
    Dammit, Keven... I thought I understood a million bucks.

    I would've sworn it was bigger than this:



    Thanks.

    For poppin' my bubble.

    I remember Elton John saying that when he first made it big he asked to see what a million pounds looked like. He was surprised and a little disappointed that they were able to bring it to him in just an attache case.

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