Republican Plan B raises taxes on the poor.

[OrByte]

It's time to cleanse this country of many of the takers by any means necessary.

really?

how is that?

 

[Jhhnn]

really?

how is that?

Eat the Rich?

 

[rudder]

Taxes should be raised on the poor. And the rich. And everyone in between. We need to pay for the government we demand. Enough of this bullshit where everybody wants their government cheese but wants somebody else to pay for it.

If taxes were raised on the poor maybe they would put in a little more thought into who they are supporting for office. Those campaign speeches that promise all kinds of goodies wont work anymore when people realize that someone has to pay for that crap.

 

[Jhhnn]

They both raise taxes on the poor. Every dollar of deficit spending needs to be accounted for on someone's balance sheet. That balance sheet ends up being the balance sheet of the federal reserve. The Fed has been consistently and regularly printing about $1 for every dollar of annual deficit. Total money and credit in the system is roughly 50 trillion (give or take a few trillion, doesnt matter) So they are inflating money & credit by roughly 2% per year. That is basically where our inflation comes from these days. (It's that way at the end of all debt cycles.)

As an interesting aside, note that total money and credit would be in contraction right now if not for this rampant money printing, and we would actually be in deflation. Omgosh no we cant have that, because then the financial sector would have to contract. And we cant have that either. God forbid the finance sector consume only 5% of the economy instead of the 20% of the economy it is consuming now.

All of this is bad for the poor because all this printed money works its way through the financial system first. That is why and how it has grown to consume 20% of the economy. And obviously very few people workign in finance can qualify as being "poor". Most are firmly in the top 2%, who are getting richer while the bottom 98% of the economy is in recession and has never left recession the past 5 years or even 13 years, depending on which facts you look at.

All in all, its a pretty nice racket. 2 wolves have convinced 98 sheep to eat sheep for dinner. And the idiot sheep never even realize they're frickin cannibalizing themselves.

Deflation is very bad for debtors, great for creditors. Every dollar paid to service debt is more valuable than the one before, more valuable than the dollar originally borrowed. Deflation also leads to hoarding of liquidity in the face of low demand & few money making opportunities. It's great for the Uber Wealthy, because money gains in value sitting idle at zero risk. It's what happened in the early 1930's when credit disappeared & currency was so scarce that people were reduced to barter.