Thursday, April 22, 2010

IT’S AN EDUCATION DAY - SORRY TO THOSE LOOKING FOR DRAMA

Yesterday we learned that GM has started to pay back on its loans from the US and Canada. Experts in the field are claiming that by the 4th quarter GM will again be publicly traded. This means the value of the US shares will go up. This means a profit on the money loaned to GM. The American taxpayer is actually poised to make money and the right is still complaining the US ownership shares in GM is socialism. You see folks, making money is a good thing. It becomes a way for the government to raise revenue without taxing the American people.

The entire debate concerning the budget shocks me not just for the total lack of education among the people, but among the elected officials. To be sure some Republicans know better - but lie because lying is the least resistant path to power. Further duping the ignorant comes easy for Republicans.

Currently 47% of American pay 0 income taxes after they get their refund. Many of these same 47% are demanding that the IRS be abolished in favor of VAT - a federal sales tax. These people who are claiming to be over taxed, although they pay nothing, are actually demanding a federal sales tax, which will insure their tax bill will go from 0 to something more than 0. On this issue, do any of you Republicans actually believe the intent of the Republicans is to lower your taxes while raising the taxes on the wealthy, which is what that claim a VAT will do? Snake oil people, snake oil.

There is no meaningful way to cut the federal budget at this time without sending the US and in fact world economies into a tail spin. Federal dollars fuel the economy - if you take them out, you decrease spending across the board while increasing unemployment. This is just like those idiots who claim you can take 10 million consumers out of the economy, and not impact consumption.

Until the American people are willing to consider the ramifications of their demands, our society will continue to decline. There are far too many people in it for themselves. Only we the people can turn it around. Until we find a way for the government to generate revenue through other means than taxes, all we can do is slow the growth of government, not reduce it.

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