Article

2014-04-21 Economy

Prof. Edgar Feige: Shadow economy keeping U.S. afloat

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Posted by Besoeker 2014-04-21 03:14|| || Front Page|| [11128 views ] Top

A event well worth the visit if you're in the Madison, WI area.

Posted by Besoeker 2014-04-21 08:20|| 2014-04-21 08:20|| Front Page Top

#2 In other news, the govt would like to do away with cash...

Posted by ed in texas 2014-04-21 08:46|| 2014-04-21 08:46|| Front Page Top

#3 In other news, the govt would like to do away with cash...

They would so they can track and tax every single purchase.

However that would just make people return to the barter system, which then would be made illegal and then the black market would get bigger and less tax would be collected, etc., etc.

Posted by DarthVader 2014-04-21 09:14|| 2014-04-21 09:14|| Front Page Top

#4 Maybe...
Stop taxing comparative advantage. i.e. earning and selling.

Posted by Bright Pebbles 2014-04-21 09:22|| 2014-04-21 09:22|| Front Page Top

#5 all those folks in the suburbs with chicken coops need to start paying an egg tax.

Posted by airandee 2014-04-21 10:37|| 2014-04-21 10:37|| Front Page Top

#6 Just like the USSR before the collapse there, where 50% of the GDP was the underground economy. The govt forced the creation of an underground economy. 5 year plans and govtgoals were so much BS.

Posted by Alaska Paul 2014-04-21 11:13|| 2014-04-21 11:13|| Front Page Top

#7 I recommend googling "Going Gault". In a couple of more years, I will have to start drawing down my IRA so, this subject interests me. I spent 10.5 yrs in Uncle Sam's canoe club an left because of the lack of a family life. I love this country.
Thoughts I ponder:
How can I withdraw enough cash to cover my monthly expenses without it being recorded?
Will buying from the farmers market really lower costs?
Will paying cash lower some of my costs (yes).
Will paying cash for everything take me (mostly) off the grid?
Would putting on "camera" proof license plate covers reduce surveillance of my location? Are they available?

Posted by Blinky Bluetooth2284 2014-04-21 13:15|| 2014-04-21 13:15|| Front Page Top

#8 "Would putting on "camera" proof license plate covers reduce surveillance of my location? Are they available?"

Not according to Mythbusters, BB. Sorry.

Posted by Barbara 2014-04-21 13:34|| 2014-04-21 13:34|| Front Page Top

#9 Real Farmers' Markets aren't part of the "underground economy."

I sold at our Farmer's Market for several years, and had to collect (and report) sales tax. I had to present proof I had a tax number before I could set up at the Market, and they kept a list of who was there each week.

The veg stand at the end of the farmer's driveway, however . . . .

Posted by Barbara 2014-04-21 13:38|| 2014-04-21 13:38|| Front Page Top

#10 IF you're looking for currency, dont buy gold buy silver.

Gold will get you robbed.

Posted by Bright Pebbles 2014-04-21 13:54|| 2014-04-21 13:54|| Front Page Top

#11 Isn't the problem with gold is that governments and big banks have a *lot* of it in reserve? All they have to do is release it and crash goes the price.

Posted by CrazyFool 2014-04-21 14:00|| 2014-04-21 14:00|| Front Page Top

#12 They won't do that(Release gold)It'd ruin the Government a well.

Don't strangle the goose.

Posted by Redneck Jim 2014-04-21 15:41|| 2014-04-21 15:41|| Front Page Top

#13 THIS gummint would willingly cut open the golden goose to get all the gold for themselves, Jim.

Assuming Bambi doesn't try to declare martial law and cancel the next Presidential election, that's exactly what I expect them to do the day before they leave office. >:-(

Posted by Barbara 2014-04-21 16:29|| 2014-04-21 16:29|| Front Page Top

#14 To accomplish that Barb, he would need some sort of civil disturbance involving a large number of people, possibly gunfire, that sort of thing.

Oh WAIT !!!!

Posted by Besoeker 2014-04-21 16:41|| 2014-04-21 16:41|| Front Page Top

#15 #5 airandee:

all those folks in the suburbs with chicken coops need to start paying an egg tax.

Why stop there? Think of all those people with vegetable gardens.
Tomato tax. Cucumber tax. Lettuce tax. ...

Posted by Chuck 2014-04-21 16:56|| 2014-04-21 16:56|| Front Page Top

#16
Need any more proof?

Poof.....

Posted by Alistaire Gurly-Brown3897 2014-04-21 19:11|| 2014-04-21 19:11|| Front Page Top

#17 I think Obama is beginning to realize he doesn't quite yet have enough marshals for marshal law against 300 million armed citizens and their ~~gun clubs~~ militias.

Posted by Bubba Graiting8281 2014-04-21 21:04|| 2014-04-21 21:04|| Front Page Top

#18 If you really thought the economy was going to melt down you'd run up the credit cards and save the cash. Perhaps cash out the 401K and pay the insane tax rate with the credit cards. Transfer all your debt to the banks while shifting to hard assets (such as bullets as the government seems to be doing).

Posted by rjschwarz 2014-04-21 21:06|| 2014-04-21 21:06|| Front Page Top

#19 FYI, Martial Law.

Posted by OldSpook 2014-04-21 23:37|| 2014-04-21 23:37|| Front Page Top

#20 Martial law doesn't worry me greatly;
It's the culture that frightens me lately:
I'm awake in the night
Wondering how to fight
When the Brady bunch sends Marcia Brady.

Posted by Zenobia Floger6220 2014-04-21 23:53|| 2014-04-21 23:53|| Front Page Top

23:53 Zenobia Floger6220
23:41 rammer
23:37 OldSpook
23:34 rammer
23:33 OldSpook
23:22 JosephMendiola
23:18 Bubba Graiting8281
23:07 SteveS
23:00 Neville Cleque3310
22:53 GORT
22:35 Thing From Snowy Mountain
22:32 SteveS
22:29 Bubba Graiting8281
22:18 Redneck Jim
22:14 gorb
21:53 Frank G
21:52 Rambler in Virginia
21:39 SteveS
21:26 Bubba Graiting8281
21:12 Zenobia Floger6220
21:10 trailing wife
21:06 rjschwarz
21:04 Bubba Graiting8281
21:03 rjschwarz