Is the U.S. Economy Teetering On the Brink of Collapse?

surferdude wrote:

I never specified where to continue your education. A blue collar worker with a couple of trades tickets will always be able to provide for his/her family. Education does not need to be college or university. It can be a blue collar worker taking a small business course so they can learn how to work for themselves. Have you seen how much a good, self-employed plumber makes.

very true.
i know many a 'blue collar' worker who's salary would be the envy of many a 'white-collar' worker. a skill is a skill, whether that skill be a computer programmer or a master craftsman.

boxwine in hell wrote:

Yeah and the average German pays about 55% income tax, so before you think they have it so great, think about that for a moment. Over half your paycheck going to the state. Now granted they get free health care and 8 weeks of vacation. Not a bad trade off. There's no perfect system I suppose.

also the small hurdle of learning to speak german.

if you add up the cost of 8 weeks vacation, a lifetime of government-funded healthcare and a university education, that 55% doesn't sound nearly as bad...but yes, more than half? yikes. i wonder if we americans added up our costs, what kind of percentage it would end up being? hmmm......

know1 wrote:

The economy is extremely strong right now. Not sure where you're coming up with the doom and gloom prognostication.

that's what the majority do here, just gloom and doom 24 hours a day. No wonder they're always in a bad/pissed off mood.

mmmm not exactly, but it could be a lot stronger. Especially if we changed the tax structure. Of course that would mean the largest transfer of power from government to the people since this country was founded and it would take a huge grass roots movement of people voting for it, but yeah it could happen.

Changing the income tax to the fair tax (consumption tax + prebate) would broaden the tax base considerably and would be at least revenue neutral. It's really the only good answer to Social Security and Medicare costs, even though they both need to be reformed anyhow.