Houston....We Have A Really Big Problem
Over 21,000,000 people work for government....many of them have very high incomes and pay significant taxes.
Over 20,000,000 million people work in health care.....and many of these people also have very high incomes.
Millions more work for defense/other contractors and also receive very substantial incomes.
IF YOU ADDED UP THE TAXES PAID BY SIMPLY THE ABOVE, THEY PROBABLY MAKE UP THE MAJORITY OF THE INCOME TAXES PAID TO GOVERNMENT.
40,000,000 Americans stand in digital food lines receiving food stamps.
Over 15,000,000 Americans receive unemployment checks.
Over 40,000,000 more receive Social Security/Medicare/Medicaid
Plus millions more receive other forms of welfare
If we added up the spending of the over 100,000,000 million Americans receiving government aid.....we probably account for a significant amount of WalMart's, Drug Manufacturers, Health Care, Grocery and other sales in our economy.
NOTICE WHAT IS MISSING????????
That is right.....NONE OF THE ABOVE contemplates the private sector that is not in the stream of government payments.
Without government spending massive amounts of money....we really don't have much of a consumer and even less of an economy.
By cutting off the private sector from credit.....REVENUES TO GOVERNMENT HAVE EVAPORTED AND NOW GOVERNMENT IS RUNNING OUT OF MONEY. We are at the point where states can't afford to pay its workers, keep hospitals open, and CAN'T EVEN PAY TAX REFUNDS.
STATES MAY HOLD TAX REFUNDS FOR MONTHS...
Now comes the real issue...why should government and Wall Street bankers have access to credit and not private citizens? The primary reason government functions is because it borrows...not because of tax receipts as Federal borrowing exceeds tax receipts....and the outlook for revenues is deteriorating.
It is strange, how so many otherwise intelligent people, still consider the current situation a recession. Not only is this the most serious financial crisis in American History (with over 1/3 of the nation relying on government aid), aside from the Civil War, we could be facing the most important Constitutional confrontation ever.
When we only loan to certain citizens...NOT BECAUSE OF MERIT OR MARKET JUSTIFICATION, but simply identity.........WE BECOME A NATION WHERE ALL MEN(and women) ARE NOT CREATED EQUAL and the rule of law degenerates.
We are now at the point where REVENUES to government have dropped so low that EVERY government payment will be questioned.....as more and more private sector workers lose jobs and incomes and ability to obtain credit(become zombulated).........expect anger and frustration to reach levels our nation has never seen before.
Vegas jobless rate hits all-time high of 13.1%...
Without a private sector, our nation primarily generates revenues from government spending......at this point, without government spending, we really don't have much of an economy.
Without an economy, most of our assets are worthless.....thus, since our collective incomes are so low, is the only solution to tax all of our assets, especially those benefitting from government spending, so the government can keep spending?
If we don't address this issue as a nation NOW.......the issue will be addressed for us...GUARANTEED.
Remember, you are being told this is a recovery....is that so government and bankers can borrow so the citizens don't get really upset while they can't?
.....with tax refunds being withheld.....we are now not too far from the end......the end of the world as you know it.