U.S. business climate worst in 27 years: survey »
Posted By MyWayOnNow 11 months, 1 week ago in Business & FinanceU.S. firms are experiencing the worst business conditions in 27 years as the year-long recession worsens, a survey showed on Monday.
The U.S. economy tipped into recession in December 2007 and there are worries the downturn, triggered by the domestic housing market crash, could be the worst since World War Two.
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joe-schmo11 months, 1 week ago
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"""Remember the old Steve Martin routine on how to make a million dollars and not pay taxes: "First, make a million dollars. ... Second, don't pay taxes." Turns out Martin's joke is standard operating procedure for corporations in the United States -- only, in comparison, Martin was a piker.
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Wednesday, (August 2008) the Government Accountability Office (GAO) released a study on taxes paid by corporations. In what Sen. Byron L. Dorgan, D-N.D., mildly called "a shocking indictment of the current tax system," the GAO found that about two-thirds of corporations operating in the United States did not pay taxes annually from 1998 to 2005.
Now, most corporations in America are start-ups or small, mom-and-pop operations that have adopted a corporate form to lower their tax rates. And a greater percentage of large corporations do pay some taxes. But in 2005, with corporate profits reaching new heights as a percentage of national income, the GAO found that more than one-fourth -- 28 percent of large corporations -- paid no taxes. (It defined large corporations as those with assets of at least $250 million or gross receipts of at least $50 million.) They can tell you how to make $50 million and not pay taxes.""" -
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canadianrancher5711 months, 1 week ago
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If government had let things correct themselves from about 1945 until now when problems happened we would not be in this mess. I will once again go back to the idea of critical mass The problems that have happened over alot of dcades created a dependency on government to solve economic problems and if no one noticed the bailouts became larger with each occurance. What happens when a economy is propped up for as long as this has it means when it does collapse there will be very little to pick up after. People better get used to all the negative reports for the next few years since this is not a market correction like in 74 or 87 or any of the other major corrections that people talk of. Even if Obama manages to slow thie process it will return in the very near future and the cost will be even higher.
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beavith111 months, 1 week ago
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1974 was a problem thanks to fiscal policy meltdown between guns and butter. in short.
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1989 real estate correction was another example of bank ownership gone bad. that was only $100B (plus or minus).
our current disaster was due to the gov't not being swift enough to figure out what was propelling the bubble and to institute some kind of regulatory regime.
the system would probably have worked into the future if we could only be cognizant of what drives bubbles.
its not a conspiracy. its human nature.
slow the process? i'm not sure he can do anything to affect it. as time is going by, i'm quite sure $825B isn't a drop in the bucket.
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