I heard the other day that the US hasn't paid back the debt that was created to pay for WWI. How can that be?
Where did the money come from? How much?
For every $1 someone loaned the government in 1917, how much have they been paid back (principal and interest)? How much more have they or their heirs received as compared to the $1 investment in debt? Hundreds? Thousands? Millions? A $1 investment returned millions over almost a hundred years? it would be interesting to know. Who ultimately benefits form all those payments?
Why hasn't WWI debt been paid off? Why hasn't WWII debt been paid off? Germany celebrated the day it paid off all their WWII debts. Paid over 50-60 years time. Why hasn't America's debt been paid in full?
(Sounds like some kind of scam to me!)
Contrast that to the plight of working men and women. Government taxes/confiscates/steals almost 15% and calls it 'Social Security'. The problem according to actuaries and politicians? The recipients receive many times
more in payments than they invested. What if they had invested in government debt instead of Social Security? They'd get interest. They'd get seemingly never ending interest payment they could leave to their heirs. Enter Obama's new death tax. Does it apply to debt payments? Debt principal? 'The principal we owe you is over the Obama's millionaire level of $250,000 so we are taxing away 50% of the money we owe you and it's interest...'
What happened to the Social Security 'trust fund'? I believe it it filled with IOUs. Nobody pays the men and women who contributed over the years interest. They need to be cut back, 'means tested'.
What is wrong with this system? I think it's about slavery. In the old south, the master got a great deal. They just stole the labor of others outright. No investments for slaves. The master gave away food, shelter, clothing, education, healthcare, all for 'free' to the slaves. No profit for the slaves, no money to save and no prosperity.
How do you steal the labor of others when there is no official slavery? I think they repackaged slavery by calling it 'free' healthcare. "Obamacare is paid for". No relationship between what is paid out and what is taxed/premiumed/confiscated/stolen from the people and business. Who does it benefit? The healthcare industry and their never ending list of 'treatments' that 'might help'. No guarantees, no refunds when the treatments don't help. No million dollar refunds when the patient dies despite this 'arsenal' of treatments and never ending care.
Seems odd that those promoting Obamacare aren't investing their personal fortunes in helping the poor - they just tax/steal/regulate/confiscate the money of working people. The working people seem to get poorer, the entitlement class (welfare recipients, interest collectors, politicians, bankers) seem to prosper.
What is wrong with this picture?
just my humble opinions
"Debt and destruction"From April 1917 to November 1919, when Woodrow Wilson borrowed $30 billion to pay for World War I, he was able to do so because of the promise he made to lenders that the commitment to repay them would be backed by the full faith and credit of the United States government. At the time, the government’s total debt was about $14 billion; so Wilson’s painful gambit trebled it.
In reality, it was not the full faith and credit of the federal government that promised to repay; it was not the credit worthiness of the federal government at stake; it was not the federal government that paid back the money that was borrowed. That’s because the government has no credit or credit worthiness or disposable wealth. Only the taxpayers have that.
This is not an academic difference. Wilson knew his creditors could not seize government buildings if he or a successor could not repay the loans in a timely manner. But the IRS could seize private wealth if taxpayers didn’t cough up.
If the mindset of borrow and spend and damn the future persists, American society as we know it will collapse.
At the time, the federal income tax was new. In order to get it passed in Congress, Wilson promised that the tax rate on personal incomes would never exceed 3 percent of adjusted gross income, and that it would only be assessed on adjusted gross incomes north of $10,000 a year -- the rough equivalent of $250,000 today.
read more here -
http://www.foxnews.com/opinion/2013/10/17/debt-and-destruction/
