US
companies with 40% of their sales in other countries are forecast to see a
contraction in foreign revenue in 2019 and 2020. Investment will go to the US
if demand is there.
The forecast for
euro area GDP growth in 2019 remains
unchanged at 1.2%, while the forecast
for 2020 has been lowered slightly to 1.4% following the more moderate
pace expected in the rest of this year (spring forecast: 1.5%). The GDP forecast for the EU remains
unchanged at 1.4% in 2019 and
1.6% in 2020.Jul 10, 2019. Europe needs to
cut taxes and government spending to resurrect their economies.
EU member countries pay $billions to the EU bureaucracy and
are abused for their contributions. VAT
Taxes of 20% are national sales taxes that should be local 5% taxes. 50% income
taxes need to be reduced to 20%. Europe needs to pay for their own defense based
on actual risk. Gasoline prices are double because of their 100% tax on
gasoline. Government schools, healthcare and pensions need to be privatized to
become competent and efficient.
Norb
Leahy, Dunwoody GA Tea Party Leader
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