Dow loses almost 600 more points today and is under 8700. The vix is at an all-time high. Should we do what Iceland has done and shut down the markets for a few days?

I realize Iceland's situation is even more grave than ours and their economy is much smaller and much more focused on the banking industry. But we need something drastic - is shutting it down too drastic?

No, I think it is to extreme for the the U.S. Let these people panic and sell off... let em keep selling. I am buying. It is a buyers market. We will hit bottom relatively soon. God Willing.

We should do away with our current form of taxation by repealing the 16th Amendment and implement the Fair Tax. NO income taxes. NO corporate gains taxes. NO corporate taxes. NO estate taxes. NO taxes except a national retail sales tax.

We need to do that, like, yesterday.

Rebel Wrote:We should do away with our current form of taxation by repealing the 16th Amendment and implement the Fair Tax. NO income taxes. NO corporate gains taxes. NO corporate taxes. NO estate taxes. NO taxes except a national retail sales tax.

We need to do that, like, yesterday.

How are we going to stay in Iraq?

firmbizzle Wrote:

Rebel Wrote:We should do away with our current form of taxation by repealing the 16th Amendment and implement the Fair Tax. NO income taxes. NO corporate gains taxes. NO corporate taxes. NO estate taxes. NO taxes except a national retail sales tax.

We need to do that, like, yesterday.

How are we going to stay in Iraq?

We R not. I am sure Obama will yank them out of their as quickly as he can

firmbizzle Wrote:

Rebel Wrote:We should do away with our current form of taxation by repealing the 16th Amendment and implement the Fair Tax. NO income taxes. NO corporate gains taxes. NO corporate taxes. NO estate taxes. NO taxes except a national retail sales tax.

We need to do that, like, yesterday.

How are we going to stay in Iraq?

Where in my post did you see that there wouldn't be a tax?

Rebel Wrote:

firmbizzle Wrote:

Rebel Wrote:We should do away with our current form of taxation by repealing the 16th Amendment and implement the Fair Tax. NO income taxes. NO corporate gains taxes. NO corporate taxes. NO estate taxes. NO taxes except a national retail sales tax.

We need to do that, like, yesterday.

How are we going to stay in Iraq?

Where in my post did you see that there wouldn't be a tax?

You wrote NO 5 times followed by taxes. Are you cutting spending? From where?

Fort Bend Owl Wrote:Dow loses almost 600 more points today and is under 8700. The vix is at an all-time high. Should we do what Iceland has done and shut down the markets for a few days?

I realize Iceland's situation is even more grave than ours and their economy is much smaller and much more focused on the banking industry. But we need something drastic - is shutting it down too drastic?

The Markets took a week off after 9/11.

Maybe everyone --Europe, Asia, the US, should shut down for a few days, let the politicians meet and try to work out a common solution..otherwise everything will keep falling based upon what happened overseas just a few hours before.

It will become a vicious circle.

firmbizzle Wrote:You wrote NO 5 times followed by taxes. Are you cutting spending? From where?

Where? I'd say all of it except anything that pertains to the regulation of interstate commerce and national defense.

As for No to taxes, if you'll READ the Fair Tax replaces ALL of those communistic taxes placed on corporations and individuals.

We probably shouldn't look to Iceland for solutions too heavily.

To try to wrest control of the spiraling situation, the government also loaned $680 million to Kaupthing to tide it over and said it was negotiating a $5.4 billion loan from Russia to shore up the nation’s finances.

firmbizzle Wrote:

Rebel Wrote:

firmbizzle Wrote:

Rebel Wrote:We should do away with our current form of taxation by repealing the 16th Amendment and implement the Fair Tax. NO income taxes. NO corporate gains taxes. NO corporate taxes. NO estate taxes. NO taxes except a national retail sales tax.

We need to do that, like, yesterday.

How are we going to stay in Iraq?

Where in my post did you see that there wouldn't be a tax?

You wrote NO 5 times followed by taxes. Are you cutting spending? From where?

FairTax is a tax reformation, not an agenda to cut funds to particular government endeavors. I agree with rebel that spending needs to be drastically cut, but don't confuse this with the FairTax movement. Take a gander at FAIRTAX.org and you'll see what rebel talking about.