PETER MORICI: ‘A SECOND GREAT DEPRESSION WOULD GRIP THE NATION’
Investmentwatchblog.com
November 14th, 2012
Morici: Tax Hikes on Rich Won’t Solve Fiscal Woes, Depression Possible
The Obama administration’s plans to hike taxes on the wealthiest 2 percent of the population will do little to solve the country’s fiscal imbalances and do nothing to avoid economic depression that looms large for the economy, said Peter Morici, a professor at the Robert H. Smith School of Business at the University of Maryland.
One solution championed by congressional Democrats and the White House involves allowing tax cuts to expire for the wealthiest 2 percent of Americans to help narrow deficits.
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“To avert calamity, President Obama and House Republicans likely will compromise to raise taxes on high-income Americans by $100 billion to $150 billion, curb spending an equal amount and renew the Bush tax cuts for families earning less than $250,000,” Morici wrote.
“This will hardly be enough to right the nation’s shaky finances.”
Failure to address deep-rooted fiscal imbalances could seriously damage the U.S. economy.
“A second Great Depression would grip the nation,” Morici wrote.
The Rest…HERE
The bible says when they are crying peace and safety, all is well, then sudden destruction. Our leaders of the world want a new world order. They come on the news saying it is getting better. Tell that to the people living on the streets! It is what the bible says. There really is no peace, there is no safety. We are on our own and we had better have are survial skills to live out in the deep.
The only ones that will make it in the new system are thoses who are exetremely college educated! Who have a great attitude! Who have a mark in their right hand or forehead.
The elite will cut us with many knife wounds before they let us die. They enjoy suffering more then anything!
Those that know how to make it on their own, will be ok.
Those who have children or babies won’t be able to feed them without the mark on their right hand or forehead. Choose this day whom you will serve. The master in whom you serve is the master in whom you are a slave too!
It may take a few years to get the mark here, or it could happen in a short period of time. No matter what they tell you about the job market, do not trust what they are saying.
If the elite did not want a bad economy, they would fix it. It is not about the respect of human life. The devils people will do what ever they can to kill us in one form or another! Trust no one except your self!
The bible says the love of many will grow cold. When you cannot take care of yourself, what else can you do?
God told the devil, man shall not live by bread alone but by every word that proceeds out of the mouth of God. This way the planet goes back to you and I God’s people rather then the devils people.