http://www.nowandfutures.com/taxes.html

What is left is subjected to the worst tax of all, the tax of inflation.

Imagine if for the last 10 years, inflation was really at 6% and not 3% as we have been told, yet you salary has only gone up 4% per year and you only earned 4% interest on you savings. Well, first, that 100,000 you had in the bank which is now 148,000 has lost 31,000 in value if you had just caught up with real inflation. And you 50,000 salary in 1997 is now 74,000, but it is 15,000 less than if you just kept up with inflation.

There are many ways they did it. Read the link below.

http://www.nowandfutures.com/cpi_lie.html

Social Security? Last I checked it had a trust fund of 2 trillion dollars. Meaning more money has been paid into it in taxes collected than has been given out. Of course, people just got a 2.3% COLA due to the fraudulent CPI. I am sure that offset the higher price of fuel oil.

Sub-prime crisis? Anyone wonder why a bank would give out a loan to someone who could not afford the house, and without any deposit?
Two reasons, one is not enough people qualified for conventional loans since their income was not keeping up with inflation. The other is that they need to make a profit, and if the housing bubble burst, the Fed would bail them out.

Where does the Fed get the money to bail them out? The created it. They simply accepted the junk mortgage securities as collateral for a loan, and then they made the money from nothing by just printing the amount on a balance sheet, and then gave it to the banks. For every 1 billion the banks got from the Fed, they can make 9 billion more loans to recover their losses.

Ever wonder about that mortgage interest? The banks tell you they need to charge interest because they pay out interest for deposits. Seems reasonable. Hardy har har.

Let me let you in on a little secret. First of all, our money is just debt. It has no value, but government says it is legal tender, so if you do not accept it as payment you go to jail, and so long as everyone accepts it who cares if it is not worth anything.

The money the banks loan you for your mortgage, or for your credit card expenditures is created at the time you sign the loan or at the time you completed the credit card transaction. How do they do that? We have what is called a fractionalized banking system, so if the banks have X amount of reserves such as deposits or loans, they are entitled to loan 9 times their value. They do not have the money or anything of value to back it up, but they do not need it, they create as soon as you agree to the loan.

So what is the interest for? Its for their profits. What a great business.
The interest is not to protect their valuable hard earned money from depreciating, since they did not earn it and it has no value.

Great book on this called “The Creature From Jekyll Island”

People say government funded health care is socialized medicine. Yet we have socialized bank insurance. If private citizens are required to buy health insurance as proposed by Dems, ask yourself why the banks are not required to get real bank insurance (dont tell me about FDIC it is also a fraud) in case their loans default. But the banks get sick, and it’s the Fed (should be congress) to the rescue. Of course, if the banks had to get insurance, they could not afford to give out sub-prime loans, the insurance would be too high. Thats why private health insurance companies do not give out insurance to people who have cancer, or who are fat, overweight, smoke 3 packs of cigarettes per day, and drink 2 six packs a day, it’s way to risky. Insurance companies would not insure sub-prime loans as well. They ain’t stupid.

The solution to the sub-primes was just have the banks issue a no interest loan to anyone who has a mortgage, payable at their convenience, or never. Use the funny money to pay back the funny debt. I mean, the money supply is so inflated anyways so the investment companies can trade in crap like SIVs, CDO’s, Hedge Funds, which add little of value to the economy, etc. but are good for Wall Streets Profits.

If our corporations need a loan to set up a factory in China, let them get it from the Chinese. Our bridges fall down, and the infrastructure is over 4 trillion in debt in todays dollars (what is needed to fix or replace it), so the funny money is not doing much here except to fund government spending. People say Socialism is bad, but 54% of our National Income (corporate and personal) is spent by the Federal Government.

There is one thing going on here, the taxes and inflation, are to create consumer debt, deflate wages and lower our standard of living in preparation for the One World Government so that all the Unions that make up the government have comparable standard of living. The bankruptcy of America is not an accident. Ron Paul knows, thats why he is running. Hope he does not end up like JFK, or his buddy Larry Mcdonald who blew the whistle on our aid and trade to the Soviet Union in 1983, but he has my vote.

Comment by PeterW — December 18, 2007 @ 3:58 pm

Ronnie Raygun also presided during the biggest market crash since Hoover. Black Monday October 19, 1987

We can thank his voodoo economics for that one.

http://usatoday.printthis.clickability.com/pt/cpt?action=cpt&title=USATODAY.com&expire=&urlID=22498576&fb=Y&url=http%3A%2F%2Fwww.usatoday.com%2Fprintedition%2Fnews%2F20070529%2F1a_lede29.art.htm&partnerID=1660

What did these people expected when they placed (not elected) WC. Bush and their JUNTA in control????? What were these people expecting when the government borrow money to wage illegal wars????? What were they expecting when they placed a deserter, a lier, a drunken junkie new born right wing christian imbecil and incompetent criminal in the oval office???

I’d like to add that this fraud was perpetrated by drastically cutting taxes on the absolute richest, and raising taxes on everyone else. Like Reagan? Unless you’re the top 1%, he gave you the greatest tax increase in history. Still like him?

The claim that Reupblicans are – in actual practice in governance – fiscally responsible has no factual or historical merit.

Rubbish. Even with pessimistic economic projections, SS pays out 75% of promised benefits the day the trust fund runs out, and returns to pay-as-you go (as it was ALWAYS supposed to do) and – because of how benefits are indexed – that 75% in the 2040s is more generous after inflation than full benefits are today. What you have said is a lie, often repeated, but a lie.

Worst. President. Ever.

Unfortunately for the American public, his poor leadership has not only left the Republican party in shambles, but the whole of the United States across the rest of the world. It is not only the GOP stock that is down, it is also America’s stock that is down.

We need a new President, a new direction and a fresh start.

Fix Social Security by returning it to a pay-as-you go system.

We don’t have a Social Security shortfall problem. We have a general revenue shortfall problem. The SS trust fund is and always has been nothing more than a Greenspan-concocted fraud to hide the magnitude of Republican deficit spending.

I am not whining……….

I just wonder why I am vilified? I don’t make the rules. i abide by them as you do. we differ in one respect, while you blame the wascally wepublicans for all that is wrong or going wrong I know that both “sides of the aisle” are corrupt and perpetrate the division and polarization in the country. Why?
Like everything else….. MONEY. THe bile an hatred both sides build line their campaign coffers. Alas, they play us all! Conservatism is how I live my life not a political persuasion.

Comment by Conservative and proud

And you got a tax break on SSI that most don’t get, so you’re getting a free ride at the expense of those who don’t make more than the SSI cap. I have to pay on every dollar I earn, up to $91,000. Your $400,000 income was only taxed to $91,000. Quit whining, ’cause you’re getting a free ride!

Comment by Conservative and proud — December 18, 2007 @ 3:20 pm

Simple. Because you support greed and corruption in government.

Comment by mary — December 18, 2007 @ 1:43 pm

i like it!
i like it!
it’s so….GWB!

Wayne,
Do you mind if I use it?

Comment by LividLib — December 18, 2007 @ 1:50 pm

Sure, I will put it for public domain use =)

Al Gore proposed walling off SSN surpluses to ensure that the funds would be there for the baby boomers without bankrupting the system. Bush and the other criminal scum that represent the Repubican party decided to apply those revenues to justify tax cuts to the wealthiest in our country. To ensure that SS would be destroyed, Republican filth also decided to continure tax cuts even though they were in the midst of significant expenditures for their so called “War on Terror”.

President Bush actually got on television to tell those who had paid extra into SS to fund the gap that US Treasury Bonds were nothing more than worthless paper. The conservatives have once again proven themselves to be dirt. Frank and Roger are traitors to this country and should be treated as such.