Category: Deficit


I have linked to an interesting article about the federal reserve and how this institution is destroying the currency,wealth and keeping this country in perpetual debt.  Rep. Ron Paul is the only candidate for President that is talking about this and he is painted as some kind of kook but he is right on target!! None of the other candidates in either party want to discuss what the Federal Reserve is doing to this country because they are in on it! Below is a link to to article:

10 Things That Every American Should Know About The Federal Reserve

http://www.worldviewweekend.com/worldview-times/article.php?articleid=7982

A friend of mine was showing me the difference between a one dollar silver certificate and a current dollar bill, I have also attached photos of a one dollar silver certificate from 1935 for everyone to see and a current dollar:

It may hard to see but in today’s dollar at the very top it reads “Federal Reserve Note”. On the one dollar silver certificate it reads ” Silver certificate” and at the bottom it reads ” One Dollar, In silver payable to the bearer on demand”.  All of today’s money has no value and by letting the Federal Reserve control the money it is keeping us in debt and getting worse. The congress is supposed to be in charge of the money, but they have given this authority to the Federal Reserve which is nothing more than a private bank run by a bunch of greedy bankers!  I am just helping to spread the word so we call become more educated and hope we as a nation become focused on the serious issues and not what the Kardashians are up to!

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Last year the President proposed a payroll tax cut which was implemented for working Americans. While not a lot of money the cut is appreciated and every little bit helps.  However, in the debt ceiling agreement the continued payroll tax cut was not included and postponed for discussion at a later time.  To me this should have been a very important part of the discussion because it is possible the Congress would let this sunset and then the middle class would have their taxes raised on the sly to help pay for this continued unnecessary spending. So the Congress could be ready to “stick it” to us again!!

Don’t think the President is off the hook either for continuing to push for a continued payroll tax cut which I appreciate.  As we found out when we filed taxeS last year this increased the income that was brought home and then had to be declared income and taxeS paid so really no one came out ahead.  If the President really wanted to make a good impression not only would he continue to push for an extension of a payroll tax cut, but tell the IRS they are not allowed to collect any tax on the extra money working Americans received through a break in the payroll tax. Maybe instead of turning the IRS loose on Americans we should have them go after Iraq and Afghanistan because with all that money we gave them tax-free, there would be more than enough to close the budget gap!

http://www.reuters.com/article/2011/08/01/usa-debt-payroll-idUSN1E77014520110801

This is not only an important issue for the entire country but also at the individual level for all Americans and we should all be very concerned how this issue plays out.  Taxes are of particular interest to me especially several times of year when I receive a bonus or extra pay for being sent on a special work assignment.  In the last month I had to leave town for work where I was paid my regular salary plus extra for the work I was doing while out-of-town.  I already knew the government was going to take “their cut” of my extra pay but it never really hits home until you receive the pay and check stub showing the unreasonable amount the government “steals” from me to waste on a bunch of crap!

Are you ready for this…?? After Federal, State, Local, Medicare, Social Security the government takes 42% off the top!!  This makes me so mad!!  This is why in communist countries nobody cared about working or producing because the government was going to take it from people so they didn’t care.  This is what is happening in this country the government is having to take more money from the working people to give to those that don’t produce and for corporations that don’t pay any taxes!

This is where the “debt ceiling” comes into play.  The U.S. keeps raising the debt ceiling to keep playing this “shell game” with our money.  But now we are just about at the end of this balancing act of continuing to raise the debt ceiling in order to keep this game going and the rest assured any agreement to raise the debt ceiling in exchange for taxing “the rich” will not solve the debt problem.  There are not enough “so-called” rich people” to fix this problem.  The government is going to tax all of us! There have already been rumblings in Congress about them getting their hands on 401k’s because of the billions of dollars in those plans because Congress can’t help themselves when there is a big pool of money laying around because they have to get their hands on it.

Finally, back to the 42% tax on “bonus pay”.. This was the doing of the Clinton administration so this is why he had a budget surplus because Clinton balanced his budget on the back of working Americans and to me this will happen again in order to get the same result. The only thing stopping this government now is the economy is in the tank and 10% unemployment!

Why might you ask is the title for my post?  Well, in my community kids are bused all over the county in the name of diversity etc… at the cost of about 70 million dollars a year for fuel, bus drivers, and the other costs associated with busing.  In the last week the school board voted to raise property taxes $30 dollars per $100 of assessed value on property to help “fund” the schools because they are running out of money.  Busing was implemented in the 1970’s (in which I was a victim of) and at the time things did not cost as much and there was plenty of money to pay for these social programs.

However, things are different in 2010. The federal government is bankrupt, unemployment is at 10% and the jobs people are getting don’t pay enough to afford any extra other than food, clothing and shelter.  All of these social engineering programs cost money so in the last 30 years the government ran deficits to pay for them and now the bill has come due.  But the liberals continue down this road of spending money like it was 30 years ago.  Think about it!! 70 million dollars a years to bus kids all over the county!! Look at what that money could be used for.  Newer school bldgs, hire more teachers and new programs for students.

The liberals in this country have to realize there is no more money and we can’t keep taxing year after year to pay for it.  If these social engineering programs cost this kind of money then it is time to get rid of them.  I don’t have any more money to pay in taxes especially with Obama care because my health insurance premiums will be going up later this year so I do not know where these tax and spend liberals think they are going to get their money.  I think the government just wants us to give them our paychecks so they can take care of us!! To me that seems to be where it is headed.

As we enter into the end of 2010 the media is full of reports about the increase in taxes that are on the way whether by the expiration of the Bush tax cuts or an increase of taxes imposed by the government.  I have come across and article that was written by Lanny Davis who was special counsel to President Clinton in which he discusses a new ” tax increase bill”  introduced in Congress.  According to this bill there will be a 1 percent “transaction tax” on every financial transaction and we would all pay one cent for every dollar for these transactions whether by cash, credit card.  The article says this tax will not apply to the buying or selling of stock.

Looking at this on the surface some might say ” it is only a penny and it is no big deal” but I say “It is a big deal” if you look at the history of tax increases.   Remember the tax on your phone bill that was still being levied until recently to pay for the  Spanish-American war of  1898!!  This was just recently removed from the phone bill after 100 years and the war only lasted a year! Yet, we as the tax payers were not offered a refund were we?  Look at the payroll tax which started out as “1 percent” deducted from take home pay and compare to where it is today!! These are just two examples but there are many more of this government trying to solve their out of control spending by raising taxes!!

You can be assured that if this bill passes Congress and this “1 percent” tax on financial transactions is imposed a few years later Congress or the President will decide this needs to be increased by 2,3 or 4 percent!!  It will never be enough and this is why we need to pay attention when a bill like this gets introduced in Congress and defeat it now before it takes root.  Because if this “tax bill” is allowed to take root then we will be stuck with this tax for 100 years just like 100 year old tax on your phone bill to pay for the Spanish-American war of 1898!

Vice President Joe Biden recently visited the General Electric plant in Louisville, Kentucky and praised the government stimulus that is helping to create jobs at GE but what also created these jobs was the 43 million dollars in state and federal tax incentives!!  So let me get this straight, by giving tax breaks this is helping businesses to create jobs because they have more money to spend but I am told the government is in a deficit and needs money so I do not get a tax break. In fact I am told I will need to pay more taxes because there is not enough money to fund the government or pay the people who do not want to work!!

Just look how hypocritical this government is; they acknowledge that tax breaks for businesses help to spur growth but in the same breath keep taxing the individual more and more.  If the working population received “substantial tax incentives” then we would have more money to spend and this recession would be over and the economy would be booming.  So when you hear these politicians say we can’t cut taxes because it will do damage to the economy just think about what I have said above.   If this government doesn’t do something about the taxes on the working people of this country then we are headed for a double dip recession and all Washington has to do is let us have our money back and the American people will get this country out of the recession.  Not runaway government spending.

I have posted a link on this as well.