Let’s see. We’ll make some guesstimates. There are about 100 million families in the US. Of those, about half are net taxpayers. And the top 10% are said to own half the wealth in the US and already pay 66% of its total taxes. Looks like they’re going to get whacked again. Each of the ‘rich’ families will pay nearly $200,000 more in taxes.
February 4th, 2010 | Bill Bonner | 13 comments | ContinuedAll Posts Tagged With: "federal spending"
Boomers Made a Mess of the United States of America
First, Americans made a colossal mistake in the ’90s and the ’00s. They partied…they spent…they borrowed…running up huge debts in the private sector.
November 23rd, 2009 | Bill Bonner | 10 comments | Continued
Ford Chief Doubts a Return to Old Times
“Ford chief doubts a return to old times,” says the Financial Times. This week, the annual Detroit Auto show is underway. America’s automakers are sitting at the wheels of their new electric/hybrid cars…and driving into the future. It used to be said, “What was good for GM was good for America.” Now, what is bad for GM is also bad for America…
January 19th, 2009 | Bill Bonner | 0 comments | Continued