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That will trigger layoffs, decreased consumer spending and reduced business spending on new plant and equipment.
FORBES: How to Prepare For the Next Recession
Put a 25 percent tax rate on individuals and corporations and see how it comes out in terms of personal consumption expenditures and corporate spending for plant and equipment, even research and development.
FORBES: This Is The Way The World Ends
If overall spending on plant and equipment merely stays steady, gross domestic product will drop by 0.5%.
FORBES: Economic Scrabble
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