Wednesday, March 11, 2009
China as a market revisited - Fair Tax book finds Sino-dollars.
I have made the discovery of Neal Boortz's book on the Fair Tax advocated by presidential candidate Mike Huckabee. He shows that part of the United States' 9.4 trillion dollar debt is neither in China's government nor in its labor force. Sino bucks are stored in International Finance Corporations. These IFC's are the place in theory that the Transnational Corporations are keeping their tax sheltered capital gains. The most important concept I got from the book is that a federal consumption tax (the likes of which the State of Texas employs successfully,)can be of tremendous use in repatriating this money. In the mean time, the Chinese laborers that do have some money are likely to buy jewelry for marriages and dowries. That makes gold a marketable commodity, and brings up the value of gold stocks. As a stock tip, i suppose the worst that could happen is that a person would be stuck with a bunch of Gold stocks or worse yet, have the gold and be forced to go to China to sell it. BTW, that 9.4 trillion dollars is around 32,000 dollars for every man woman and child counted by the census. I wish all of them were tax payers, like a consumption tax would secure. Later after you have read the book, you can click on http://www.fairtax.org/. In the interim, it was not that long ago (days) that I saw 9.38 trillion. This distresses me in a remote way that needs a serious sense of urgency.
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