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alstry (35.44)

100% Income Tax or 100,000,000 American Lives

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August 08, 2009 – Comments (13)

We hear everywhere the recession has ended......but you never hear the rest the story.  We hear how Alstry called a hard top at 8300... but you never hear how Alstry said any hard top call has a 10% margin of error putting Alstry just a few points outside of the top call range.

But let's get back to probably one of the most serious issues facing America...EVER!!!

Please verify the following numbers for yourself, but I think you will find them within acceptable deltas for the sake of ease of presentation.

In 2009, America expected to generate approximately $1 Trillion dollars from personal income taxes.  It also expected another $1 Trillion from social security and other payroll taxes.

America thought it would spend $2 Trillion dollars this year on Social Security, Medicare, Medicaid, Unemployment, and Interest on the national debt.

http://en.wikipedia.org/wiki/2009_United_States_federal_budget

When the above estimates were made, the deficit was expected to come in around $600 Billion as unemployment was capped 8%......now we know the defict is much closer to $2 Trillion (just  Federal deficit) and the key reason is revenues to government is evaporating with a dramatically slowing economy.

The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion.

Other figures in an Associated Press analysis underscore the recession's impact: Individual income tax receipts are down 22 percent from a year ago. Corporate income taxes are down 57 percent. Social Security tax receipts could drop for only the second time since 1940, and Medicare taxes are on pace to drop for only the third time ever.

The last time the government's revenues were this bleak, the year was 1932 in the midst of the Depression.

"Our tax system is already inadequate to support the promises our government has made," said Eugene Steuerle, a former Treasury Department official in the Reagan administration who is now vice president of the Peter G. Peterson Foundation.

http://finance.yahoo.com/news/AP-ENTERPRISE-Federal-tax-apf-2967547650.html?x=0

Strange isn't it?  The recession is over yet our nations income is inadequate to support MOST OF government spending?....something is very wrong when a nation's leadership fails to confront a massive problem and inform the public it serves.  Politicians are public servents, aren't they?

ARE THEY AFRAID TO TELL US WE CAN'T AFFORD THEIR SALARIES AS THEY GIVE THEIR INSOLVENT BANKER BUDDIES BILLIONS WHILE HARD WORKING AMERICANS GET KICKED OUT OF THE JOBS AND HOMES?

Our income is  BEYOND INADEQUATE, at current spend levels, America can't fund social security, medicare, medicaid, welfare/food stamps, unemployment and interest expenses.....basically, the funds that over 100,000,000(one hundred million) people depend on to live....especially if you include those that service this segment of the population including milllions of physicians, pharmacists, and health aid workers.

Based on current income tax receipts, we would have to triple income taxes simply to cover the above....or a marginal tax rate of OVER 100% for those taxpayers that pay most of America's income taxes.

Obama, Geithner, and Bernanke are well aware of this problem.  And the problem has NEVER been anything like this because government has NEVER been anything close to this large....just a few years ago, total government spend was OVER $3 Trillion dollar LESS than it is today.

$3 Trillion dollars is more than the TOTAL current tax receipts of the Federal Government!

If we simply killed off the above 100,000,000 million people, it would save about $2 Trillion and basically cover just the Federal deficit.  But by killing that many people and cutting spending by so much, our GDP would likely immediately contract by about 20%(offset by a temporary surge in funeral spending) and put our nation in a massive depression.

Can anyone explain what the heck is going on here?  Here is the really scary part... if Benny the B and Timmy the G simply try to print money to fraudulently cover these massive deficits/expenses, we might as well convert our nation's currency into toilet paper as no one in the world will accept it for trade.

It is hard to tell what is going on, but every time I see Bernanke speak, he looks very nervous.  What do you think the man who told us subprime was contained is now concealing from us?  What about Timmy the G and his recent cursing crusades?  Do those faces look like people you can trust?

Now when are those mandatory flu shots coming out?

13 Comments – Post Your Own

#1) On August 09, 2009 at 2:52 AM, awallejr (85.43) wrote:

We hear how Alstry called a hard top at 8300... but you never hear how Alstry said any hard top call has a 10% margin of error putting Alstry just a few points outside of the top call range.

You are starting to sound like Cramer with the "hedging" of your calls.  You also called for a DOW 5000 by end of summer.  Hedging away from that one too? 

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#2) On August 09, 2009 at 5:50 AM, kaskoosek (85.49) wrote:

There is no need to raise taxes if there isn't runaway inflation.

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#3) On August 09, 2009 at 8:18 AM, alstry (35.44) wrote:

awa,

It is not the end of summer....when it is we will address the issue....please be patient.

kas,

You being the inflationista, by simply printing OVER $2 TRILLION dollars against a back drop of collapsing tax revenues, you very quickly get to the point where no one will finance your debt.  This is especially true where a nation's expenses is going to explode due to rising health care costs, rising unemployment costs, and rising social security costs.  Once that happens you will be forced to print even more to chase ever increasing interest rates.

Right now it is OUR banking system, not China, loaning us money at higher rates than we just gave to them.  Everybody in the world sees this nonsense.  At some point in the near future, few will find it acceptable as they could do the same things to their own citizens.

Right now our total deficit is approaching $40K per family of four.  Could you imagine what would happen if the entire world simply started handing each family $40K?

How this is going to play out is anyone's guess.  America is broke and our leaders are doing little to address the issue except hand what little money is left to a few insolvent bankers.  As a result of this Zombulation policy, many families, businesses and municipalities are going broke.

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#4) On August 09, 2009 at 8:53 AM, alstry (35.44) wrote:

Amid cost cutting, L.A. city pensions continue to soar

Collecting nearly $318,000 a year, the former head of Los Angeles' Department of Water and Power tops a list of 841 city pension recipients paid six-figure benefits, according to newly obtained records.

WHEN WILL AMERICA WAKE UP?

With massively underfunded pensions, we cannot keep paying out amounts like this or money will run out before most get a dime of the funds they paid in.

Now people are starting to protest health care reform....or police officer cuts......or muncipal cuts?

The protests will only get more heated as more and more realize that there is simply no money left in the system to cover these costs.  The deficits are growing parabolicly as this blow is written.

Telling American's lies like the recession is over doesn't help....it will only make the nation more angry upon realization of the truth. 

Same with giving insolvent bankers billions while firing employees of insolvent companies and kicking insolvent families out of their homes.

Now the question is how much money will insolvent politicians in Washington DC extract from us so they can keep their insolvent jobs?

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#5) On August 09, 2009 at 10:23 AM, alstry (35.44) wrote:

PEOPLE ARE FOCUSING ON HEALTH CARE REFORM? 

GOVERNMENT DOES NOT HAVE A DIME TO PAY FOR HEALTH CARE!!!  UNLESS THEY FRAUDLENTLY PRINT IT.

THESE ARE ISSUE WE SHOULD BE ADDRESSING NOW!!!

On May 13, 2009, Celente released a Trend Alert, reporting that, “The biggest financial bubble in history is being inflated in plain sight,” and that, “This is the Mother of All Bubbles, and when it explodes [...] it will signal the end to the boom/bust cycle that has characterized economic activity throughout the developed world.” Further, “This is much bigger than the Dot-com and Real Estate bubbles which hit speculators, investors and financiers the hardest. However destructive the effects of these busts on employment, savings and productivity, the Free Market Capitalist framework was left intact. But when the 'Bailout Bubble' explodes, the system goes with it.”

 

Celente further explained that, “Phantom dollars, printed out of thin air, backed by nothing ... and producing next to nothing ... defines the ‘Bailout Bubble.’ Just as with the other bubbles, so too will this one burst. But unlike Dot-com and Real Estate, when the "Bailout Bubble" pops, neither the President nor the Federal Reserve will have the fiscal fixes or monetary policies available to inflate another.” Celente elaborated, “Given the pattern of governments to parlay egregious failures into mega-failures, the classic trend they follow, when all else fails, is to take their nation to war,” and that, “While we cannot pinpoint precisely when the 'Bailout Bubble' will burst, we are certain it will. When it does, it should be understood that a major war could follow.”

http://www.globalresearch.ca/index.php?context=viewArticle&code=MAR20090807&articleId=14680

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#6) On August 09, 2009 at 10:38 AM, Nosignal100 (< 20) wrote:

This morning I was awoken by my alarm clock powered by electricity generated by the public power monopoly regulated by the US department of energy. I then took a shower in the clean water provided by the municipal water utility. After that, I turned on the TV to one of the FCC regulated channels to see what the national weather service of the national oceanographic and atmospheric administration determined the weather was going to be like using satellites designed, built, and launched by the national aeronautics and space administration. I watched this while eating my breakfast of US department of agriculture inspected food and taking the drugs which have been determined as safe by the food and drug administration.

At the appropriate time as regulated by the US congress and kept accurate by the national institute of standards and technology and the US naval observatory, I get into my national highway traffic safety administration approved automobile and set out to work on the roads build by the local, state, and federal departments of transportation, possibly stopping to purchase additional fuel of a quality level determined by the environmental protection agency, using legal tender issed by the federal reserve bank. On the way out the door I deposit any mail I have to be sent out via the US postal service and drop the kids off at the public school.

After spending another day not being maimed or killed at work thanks to the workplace regulations imposed by the department of labor and the occupational safety and health administration, enjoying another two meals which again do not kill me because of the USDA, I drive my NHTSA car back home on the DOT roads, to my house which has not burned down in my absence because of the state and local building codes and fire marshal's inspection, and which has not been plundered of all it's valuables thanks to the local police department.

I then log on to the internet which was developed by the defense advanced research projects administration and post on freerepublic.com and fox news forums about how SOCIALISM in medicine is BAD because the government can't do anything right.

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#7) On August 09, 2009 at 11:12 AM, jddubya (37.36) wrote:

#6 -

LOL, touche!

 ...and for Alstry's counter, this is my first comment on this blog.

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#8) On August 09, 2009 at 11:42 AM, awallejr (85.43) wrote:

Well Alstry since you have a tendency of forgetting the things you say I will reprint it here:

Alstry: "Physical gold backing on the Massive Convex Reflector formation is at its most powerful at the 8400 level.......couple that with the incredibly destructive effects of the Zombulator and we could easily be looking at sub 5000 on the Dow before the end of the summer....maybe more maybe less."

Quoted from this thread of yours:

http://caps.fool.com/Blogs/ViewPost.aspx?bpid=190126&t=01002130057764754273

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#9) On August 09, 2009 at 12:55 PM, jddubya (37.36) wrote:

Nice awallejr!  We all know that Alstry[nomics] hopes to be wrong, so it's good to see you helping Alstry[nomics] out.

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#10) On August 09, 2009 at 8:10 PM, abitare (63.42) wrote:

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#11) On August 09, 2009 at 8:35 PM, JerseyShoreGirl (< 20) wrote:

Believe it or not, there are others who see what Alstry sees ... 

Pat Dollard:  "I predict there will be blood in September" .. (Video footage + Comments)

http://patdollard.com/2009/08/yesterday-i-had-a-message-there-will-be-blood-tonight-drudge-validates-me/

 

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#12) On August 10, 2009 at 8:34 PM, usmilitiadude (31.68) wrote:

#6 Sammy, water in my city is getting worse every year. Fortunately, I don't live in the city next to mine. Although the city is more prosperous, no one can even stand drinking the water. 

I'm worried about you buddy. Try researching the insurance institute for highway safety approved autos verses the national highway traffic safety administration approved autos.Those SUV rollovers are dangerous.

The post office's package delivery is a joke. Having seen the inner workings of UPS and the USPS, there is a vast difference. I know a company that sells thousands of dollars worth of supplies every day and will not send anything through the USPS because of the terrible service.

??????Where did all this public debt come from??????

The dear leaders of Cuba can't even provide toilet paper or beds for their people. I guess sacrifices need to be made for such a pure system of governance. Anybody gotta copy of the communist manifesto, I gotta wipe.

Lazy people, is anyone sick of lazy people? They are everywhere. Why is everything becoming a right?  

The standards of the free market system will be better in the long run for health care and most other goods and services that are needed. It is not perfect, but nothing is this side of eternity.

 

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#13) On August 11, 2009 at 10:27 AM, richlongrun (91.70) wrote:

actually, I agree with Alstry and Sammy. Government does do a lot of things right, but we can't keep piling up deficets. I think what we need to do is think about what gives us the most bang for our buck. For the most part we don't really care that much about the value of the dollar internationally, except for one thing...OIL. If we are energy independant we would have everything we need right here in america. If energy was cheap in the U.S. we could even compete with China in spite of the fact that they unfairly hold the yuan significantly below the value of the dollar, making their labor costs so cheap that companies export their factories to China. Big business does not want us to become energy independent because they are happy with the status quo.

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