With a record trade deficit with China and economic inequality like 1929 is the U.S. headed for a Depression?

The economic recovery that began in 2001 is six years old, and the economy has consistently expanded over this period. Productivity growth, though slower of late, has been particularly strong, and after a long, slow start, employment has been consistently growing, albeit slower than past recoveries.





But most American workers have not shared in the growth and prosperity they have been helping to create. Surely, one measure of the success of an economic growth period is how much of that growth finds its way into workers' paychecks. In a period of sharply rising inequality, however, this is no "slam dunk." In fact, as much of the data in this brief reveal, many workers' wages have been stagnant for a number of years, after adjusting for inflation, particularly those at the middle and lower end of the pay scale. For example, while productivity is up nearly 20% since 2000, the real median hourly wage is up 3% overall.

With a record trade deficit with China and economic inequality like 1929 is the U.S. headed for a Depression?
The US citizenry and the US economy seem certain to be headed for a 'growth experience' of one sort or another. Depression, recession, or profound decrease in the value of the dollar, runaway inflation, something.
Reply:No but a recession maybe
Reply:Large corporations are owned by shareholders and any profit or loss that corporation experiences are passed on to those shareholders. Whether or not corporations pay tax, they are ultimately paid by the shareholder himself.





To not understand this is to not understand the basic principles of Economics.





The top 5% of the wealthiest citizens in this country pay 53% of all taxes. That's more than half of all taxes collected by the federal government from only 5% of the people.





More surprising, the top 50% of the wealthiest people in the US pay 96% of all taxes. This means that the total share of all taxes paid by people in the lower 50% of the wealth scale pay only 4% of all taxes. If you are in the lower half of wealth, you are paying almost nothing of the total budget.





The top 1% is paying more than ten times the federal income taxes than the bottom 50%!
Reply:yes