Any Guesses?
December 03, 2010
– Comments (15)
Our deficit has become so large that the Government needs to tax everything we make to come close to balancing its budget......and pay the 2/3 of the population dependent on government checks each month to spend and consume.
The other 1/3 of the population depends on 2/3 getting their checks and spending for their income....
If the 2/3 are not spending.....the 1/3 doesn't have an income........and if the 1/3 doesn't have an income......much of the tax receipts to government evaporate......
The problem is a mess......
and up until now, bankers have been cutting off credit to the private sector and extending essentially unlimited credit to government......
now it appears credit is being cut off to governments around the nation.....as private sector tax receipts continue to evaporate.......
So how do we allocate property rights when the value of all of our property rights are a function of government spending money it doesn't have.....?????
Our 401Ks are a function of government spending....
Buffett's Berkshire Hathaway's company is solvent as a result of government spending.....
The revenues to doctors and hospitals are a function of government spending....
Ben Bernanke's income is a function of government spending.....
The fact that millions of Americans have lost their homes and jobs is a function of being cut off of credit....versus bankers getting essentially unlimited credit from government.....
How do we pick who gets or owns what when the value of basically everything is a function of government spending.....and now spending money it doesn't have...unless it takes everything we have?
RSS Headlines
Fool UK