From the "No Shit, Sherlock" file: US bankrupt.

Seems somebody has put on their party hat early

Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion – 840 per cent of current GDP. “Let’s get real,” Prof. Kotlikoff says. “The U.S. is bankrupt.”

How bad is it really Prof?

Prof. Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.

Howz about instead....just talking out loud here....howz about we ACTUALLY TAX corporations? In real terms that flatheads like me can understand, corporations pay next to nothing in taxes. They get something the middle and lower classes don't, called "breaks". Cities, states and the good old US of A will even lower or negate the taxes they pay in order to stay on their good side.

And howz about we raise taxes on the rich back up to where they were, say... oh... about Nixon? I don't think we need to go all the way back to Roosevelt's rate of a 93% tax rate on the wealthy. But keeping them on Reagan's Wealthfare rate of effectively 15%, isn't working for anybody..... except the rich, of course.

Nixon's 70% tax seems a reasonable compromise.

You want the economy to pull out of it's nose dive? TAX THE RICH