>During the Bush administration huge deficit have occurred; because, the >government is spending more than it is taking in from tax revenues. The >Bush Administration has even reduced taxes, mostly on the wealthiest >Americans, at a time when it is spending money like a drunken sailor. >To finance the shortfall the government is borrowing form other >countries like China by issue US Treasury Bonds. This kind of reckless >financial irresponsibility can't go on forever.
We have at least partial agreement here, on facts, if not on reasoning. However you have to keep taking shots at the 'tax breaks for the wealth'. They are the only ones who pay taxes. The poor don't. They get refunds when they've paid no taxes. The lower-middle income people don't pay enough for the services they receive. It's the well off that pay the substantial share of taxes. Also, please don't continue to buy into the fallacy of equating tax rates with revenue. These lowered tax rates y'all whine about have resulted in higher governmental revenue. If all you want to do is punish the rich, higher tax rates will work. If you want to increase revenue, lower them some. This leaves us with the problem of the left... lowering government expenditures. That is a no-no. There is power connected with the distribution of the money they they just will not give up. Unfortunately, during the past few years, the Rs have played along with this nonsense. It just be something in the water around DC. Getting back to the more current question -- of course inflation is in the government plan. Pay off the debt with cheaper dollars. Whether it's right or wrong is one aspect. The fact that it is happening is another. What this means is that if you listen to the conventional wisdom about saving your money, you will be royally screwed. You put a dollar in the clutches of the bankers. Several years later they give you a dollar back, plus interest. However it will only buy 75 or 80 cents worth of merchandise. The action may be made sincerely thinking saving is good. However the banks use your money and pay it back to you with cheaper dollars. The wealthy, on the other hand, ( and don't read any kind of moral depravity here) invest in equities... stocks, real estate, gold... and these values go up with inflation. Pete may say I'm looking at them as being more deserving, but not so! They just understand the system better and make it work for them rather than against them. The problem is a lack of understanding of economics by the general population. Schools perpetuatethe 'save your pennies' myth and don't touch on supply and demand theory. It's no wonder that so many people fall for the eroneous economics of the left that tells them that the government will supply all kinds of goodies for them, even if they don't produce and it is all the fault of the selfish, evil rich that they don't have everything they want. That, friends, is true voodoo economics. Larry Miller --- StripMime Report -- processed MIME parts --- multipart/alternative text/plain (text body -- kept) text/html --- _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
