14 Trillion, or 211 Trillion?

VINNY GOOMBA
VINNY GOOMBA Posts: 1,826
edited August 2011 in A Moving Train
From NPR:

http://www.npr.org/2011/08/06/139027615 ... 1-trillion

This is exactly why the whole "Tax the rich / Don't tax the rich" argument is irrelevant, and does nothing but divide. Taxing the rich wouldn't even make a dent.

If everyone were taxed at 100% of their income for years at a time, it still cannot pay for what the government spends. Period.
Post edited by Unknown User on

Comments

  • Jason P
    Jason P Posts: 19,327
    You mean if everyone pays their fair share, we are still doomed?

    Shocking. :ugeek:
    Be Excellent To Each Other
    Party On, Dudes!
  • VINNY GOOMBA
    VINNY GOOMBA Posts: 1,826
    Jason P wrote:
    You mean if everyone pays their fair share, we are still doomed?

    Shocking. :ugeek:

    It certainly looks this way.

    Although Greenspan just said that our inability to repay the debt to the debtors is never a threat because "we can just print the money." :shock:

    Hey China, here's a stack of worthless paper. Let's call it even!
  • Go Beavers
    Go Beavers Posts: 9,621
    Instead of calling it "unofficial debt", shouldn't it be called "long term expenditures if nothing changes"?

    Also, I wonder if he had qualms about deficit spending when working with Reagan.
  • markin ball
    markin ball Posts: 1,076
    Could this be the beginning of the end of central banking systems for a while?
    "First they ignore you, then they ridicule you, then they fight you, then you win ."

    "With our thoughts we make the world"
  • VINNY GOOMBA
    VINNY GOOMBA Posts: 1,826
    markin ball wrote:
    Could this be the beginning of the end of central banking systems for a while?

    One can hope :) I think the more people learn about how these systems actually work, the more people will want to do away with them. I posted a link in another thread which revealed that the true bank bailouts have totalled 16 trillion in loans to not only domestic banks, but huge corporations and banks worldwide. The only reason that this one-time audit was allowed to happen was a bi-partisan effort in Congress to get a watered-down version of the audit passed in the financial reform law last year, combined with a lawsuit by Bloomberg.

    A good chunk of early American history included fighting against central banking, for the very reasons we see today. They operate in secret, and for the profit of their shareholders at the expense of the general public, and they rip off the poor and middle class the most. Overall, little attention is given to the Fed, but at the same time, that amount is growing more by the day.
  • cross7806
    cross7806 Posts: 222
    The Federal Reserve is no more federal than Fed Ex. There is a very good book on this. The Creature from Jekyll Island. They just reprinted it 2-3 yrs. ago.
  • VINNY GOOMBA
    VINNY GOOMBA Posts: 1,826
    cross7806 wrote:
    The Federal Reserve is no more federal than Fed Ex. There is a very good book on this. The Creature from Jekyll Island. They just reprinted it 2-3 yrs. ago.

    I have yet to read it, but know all about it.

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