Currency

[level_head]

The US gets away with its current spending levels, and the “quantitative easing” (faking money) combined with borrowing money, because we remain the world’s reserve currency. Generally, this means that everyone else’s currency and trade is measured in US dollars.

As a random aside, the word “dollar” and “neanderthal” share a common root - the “thal

Comments

[justgoto]

Thank you for writing about it!

[level_head]

You're welcome. Some supporting links posted below.

===|==============/ Keith DeHavelle

[level_head]

A quick search turns up that Rangel was involved with its origin, and that legal actions against it have been quite unsuccessful

[marmoe]

From following up a source in the wikipedia article on FATCA

An Englishman’s home - The mayor of London renounces his American citizenship. The Economist. Feb 21st 2015
http://www.economist.com/news/united-states/21644160-mayor-london-renounces-his-american-citizenship-englishmans-home

[level_head]

Yes. The number of citizens bailing "will necessarily skyrocket"; I know a few such persons well.

We have over 12,000 tariffs in place currently, an attempt to beat the population until morale improves. But this is simply a burden added to America's odd global-basis tax structure. The FairTax is a complete fix for this, and America will become the "offshore banking haven" (and investment haven) for the rest of the world, to our benefit.

===|==============/ Keith DeHavelle

[sir_dave]

An excellent summary

[level_head]

Trump has no idea what the national debt actually is. He has used numbers in the billions, to 5 trillion, in national debates and only gets to the actual current number of just under $20 billion if an aide has just reminded him of it