Gdepc: Within 5-7 years, OPEC will demand payment in Euro's or Remimbi. (Perhaps sooner.) That is when the vanguard of the Baby Boomers start collecting Social Security and Medicare, when the government's tax inflow starts to slow and the entitlement outflow really picks up steam. We can't tax our way out of the problem, because higher taxes would reduce employment and investment. Capital is too fluid, there are too many worldwide opportunities to invest in. The only thing the country can do is print money it doesn't have. Who in Washington will have the cajones to reduce entitlements? The Democrats? Hell, the Republicans couldn't even get a modest reform propsal through when they had a 10 seat Senate majority, the house and the Presidency. What Democrat leader is going to propose extending the retirement age or indexing benefits? Not gonna happen. They'll just vote to increase the payroll tax. And when you tax employment you get less of it. Simple economics. If you provide incentives for something, you get more of it. Remember in the Clinton years when they passed a big tax on yachts? What happened. Nobody bought yachts and the ship builders lost their jobs. We are in deep shit as a nation. Which is why I'd like to see CYGX go up to $20 a share so I can become a wealthy ex-patriot on a nice beach in Thailand.
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