Originally Posted by chiefst2000
Blaming it on speculators is misguided and simplistic.
Fair enough - all of these topics are complicated and interwoven - and the results of actions largely speculative.
I have a few friends at the US Treasury - one who works for Tim Geithner - and my interests aren't in taxation really. I'd be much happier if the US had some cogent plan about how to move into being a post-industrializing world-intergrated economy.
The current way sure isn't working and that is most certainly not a problem to be solved by taxes one way or the other. And to me it's the biggest problem by far.
I'd like to see the US adopt some sort of government-business industrial policy that creates real incentives for high-value-added manufacturing [and the inevitable service jobs it begets] along with a much lower corporate tax rate tied to local and national investment - investment not just in corporate assets but extending to investment in educational partnership, training, etc.
Anyway - its a complex and unfortunately long-term issue.