Topic: Gdp Tax

South Dakota Governor Kristi Noem touted her state's 9.9% GDP growth and lack of corporate or personal income taxes at a recent convention. In contrast, the hosts discuss the logistical challenges in Austin, Texas, where newcomers are reportedly "gaming" restaurant reservation systems. They suggest that restaurants should implement credit card deposits to prevent mass cancellations.

A report from CGTN explores the "tightrope" the Chinese government walks between maintaining GDP growth and cooling an overheated real estate market. Approximately 90% of Chinese families own their homes, with 80% owning them outright. Because of limited investment alternatives abroad, many Chinese citizens view domestic property as the only safe place to store wealth.

The President of the European Council announces a major crackdown on tax evasion, claiming 1 trillion euros are lost annually. The hosts predict that the EU will move toward a system of "profiling" based on occupation and income class, where the state simply calculates and takes what it believes a citizen should owe in taxes, bypassing traditional audits.

Reports on the "minimal consciousness" of Dutch Prince Friso following a skiing accident are briefly mentioned. The discussion shifts to a *Morning Joe* segment where guests proposed a consumption tax (VAT) to address the fiscal cliff. The hosts challenge the claim that government spending is only 24% of GDP, asserting the true figure is closer to 40% when all factors are included.

The Trayvon Martin case has reportedly led to a surge in Skittles sales as a form of protest. Meanwhile, international focus shifts toward the Rio climate summit and "Agenda 21," which proposes that developed nations commit 0.7% of their GDP to international climate aid and global wealth redistribution.

The Congressional Budget Office (CBO) and OMB projections indicate that federal revenues are scheduled to rise by 30 percent between 2012 and 2014. The hosts interpret "revenue" as a euphemism for massive tax hikes required to manage the $1.1 trillion deficit.

Timothy Geithner's testimony continued with claims that the economic recovery is accelerating and that over a million private sector jobs were created in the last three quarters. When questioned about the disincentive of rising capital gains and personal tax rates, Geithner utilized "government double talk" to avoid direct answers. The performance is described as evasive and unhelpful for business owners.

Secretary of State Hillary Clinton addressed the Commonwealth Club, demanding that Pakistan reform its tax system to increase its 9% tax-to-GDP ratio. Clinton argued that the Pakistani elite must contribute more to their own development if they expect continued US aid. This pressure is characterized as "economic hitman" tactics designed to exert control over foreign resources and infrastructure.