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June 8th, 2011
05:00 PM ET

What are the chances the U.S. economy could eventually trigger violence in our country?

FROM CNN's Jack Cafferty:

For the first time maybe since the Vietnam War or certainly since the civil rights movement, there are some darkening storm clouds on the civility horizon. A growing number of voices are continuing to suggest that if this economy doesn't turn around, and people can't start feeling optimistic about their futures again, we could be headed for some ugly scenarios. A new CNN poll says 48 percent of Americans think the country is headed for another Great Depression in the next twelve months. That is a stunning number.

James Carville, who in 1992 told Bill Clinton, "It's the economy stupid," says the current economy is so bad, there is a heightened risk of civil unrest. And unless things start changing for the better, it's a distinct possibility.

Our country is bankrupt and our government refuses to do anything about it. Unemployment is stuck above 9 percent. Millions of Americans are out of work, some for a number of years now. The value of peoples' homes is sinking below the break-even line. In the most recent jobs report, more than half of the private sector jobs that were added were at McDonald's.

For young people coming out of the nation's colleges and universities, their families having invested hundreds of thousands of dollars in their education, the outlook is grim.

Add in the early record breaking heat in the cities in the East and we might not even have to wait until 2012. It could become a long, hot, ugly summer.

Here’s my question to you: What are the chances the U.S. economy could eventually trigger violence in our country?

Interested to know which ones made it on air?

FULL POST


Filed under: Economy
June 8th, 2011
02:00 PM ET

Tim Pawlenty wants only two income tax brackets, 10% and 25%. Good idea?

ALT TEXT

FROM CNN's Jack Cafferty:

It's been about two weeks since Former Minnesota Governor Tim Pawlenty formally entered the Republican presidential race. So far, he's talked bluntly and forcefully, but not very specifically, about issues like gradually raising the retirement age for Social Security, overhauling Medicare, and phasing out ethanol subsidies. But yesterday, in what's being called his first major policy speech on the economy, Pawlenty talked specifics, calling for a "simpler, fairer, flatter tax system" and major cuts to federal spending.

He proposed reforming the individual tax code to have just two rates: 10 percent for the first $50,000 of income, $100,000 for married couples, and 25 percent for higher incomes. He said that would allow lower and middle income families to save more by being taxed at a lower rate, and would spur investment and job creation by cutting the top rate. His plan would also end the capital gains tax, interest income tax, dividends tax, and the estate tax. He'd also cut the business tax rate from 35 percent to 15 percent.

But Pawlenty didn't just talk taxes-he also called for major spending cuts to many government services. In fact, he suggested if you can find a private sector product or service on the internet, then the federal government doesn't need to be doing it. Not a bad idea.

Critics are already calling the proposals "unachievable." But it's a more ambitious and specific plan than what we've heard from any other potential Republican candidate.

Here’s my question to you: Tim Pawlenty wants only two income tax brackets, 10% and  25%.  Good idea?

Tune in to the Situation Room at 6pm to see if Jack reads your answer on air.

And, we love to know where you’re writing from, so please include your city and state with your comment.


Filed under: 2012 Election