Making a Recession Great

Posted March 19th, 2008 by Michael Nystrom

by Ron Paul | March 16, 2008

House Democrats recently adopted a budget with massive tax hikes, many of which are directed at those Americans who can least afford them. By allowing the Bush tax cuts to expire in 2010, this budget will raise income taxes not only on those in the highest income brackets, but raises the lowest bracket from 10% to 15% as well. Estates would again be taxed at 55%. The child tax credit would drop from $1000 to $500. Senior citizens relying on investment income would be hurt by increases in dividend and capital gains taxes. It's not just that the Democrats want to raise taxes on the rich. They want to raise taxes on everybody.

The problem is, policing the world is expensive, and if elected officials insist upon continuing to fund our current foreign policy, the money has to come from somewhere. The wars in Iraq and Afghanistan have already cost us over $1 trillion. The Democrats' budget gives the President all the funding he needs for his foreign policy, so one wonders how serious they ever were about ending the war. While Democrats propose to tax and spend, many Republicans aim to borrow and spend, which hurts the taxpayer just as much in the long run.

Supporting a welfare state is expensive as well. Over half of our budget goes to mandatory entitlements. The total cost of government now eats up over half of our national income, as calculated by Americans for Tax Reform, and government is growing at an unprecedented rate. Our current financial situation is completely untenable, and the worst part is, as government is becoming more and more voracious, the economy is shrinking.

The bottom line is that Washington has a serious spending addiction. While both parties debate how to raise the revenue, both parties seem happy to spend over $3 trillion of your money in various ways. While some in Washington criticize the war in Iraq, very few are criticizing the interventionist mindset that got us into the war in the first place. Many so-called "Iraq War critics," criticize this administration rather than truly opposing the decades old policies that led to war. They claim they will eventually get the troops out of Iraq, but the danger is that they simply plan to move them around to other countries, not bring them home. The American people want peace. Minding our own business is the best way to achieve it. Not only is it also a whole lot cheaper, but free trade and friendship with other countries benefits all involved.

This spending spree is exactly the wrong policy for an economy on the brink of recession. History has shown that all empires eventually crumble under a worthless currency and with an exhausted military. Since too many of our nation's leaders haven't taken the time to learn from history, we are seeing mistakes repeated through recently enacted policies such as the new House budget.

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Good insight

On March 20th, 2008 bbagnall says:

This one is a revelation: "Many so-called "Iraq War critics," criticize this administration rather than truly opposing the decades old policies that led to war." I've always watched those who oppose the war by criticizing only Bush and sit back and go, "Yeah, right on." But the truth is they are not condemning the real problem. Bush is just their scapegoat so they can reserve the right to go into more wars as they see fit.

Honestly, you're just

On March 20th, 2008 bigsurjune says:

Honestly, you're just preaching to the choir.

Want change?

1. Get involved in local politics.

2. Get like minded folks involved too--start a small army like the Clinton people have.

3. Turn off the TV and cancel newspapers subscriptions--support on-line independent news sources (support means to pay for their services.)

4. Boycott companies that do things against your core beliefs (e.g., companies that give large amounts of money to both Clinton and McCain.)

5. Create local events in your area and use them as launching pads for ideas. Don't ram it down people's throats but make it accessible (e.g., Sponsor a music event with local talent and put a booth up.).

6. INVENT WAYS TO CHANGE AMERICA (If you can't invent then join someone's idea.)

The most important things we can do is to STOP contributing to Washington D.C. reality and start creating our own....

Problem with cutting

On March 20th, 2008 seker2k says:

Problem with cutting spending is government fatcats are raving shopping addicts, they won't give it up till they are dead.

DON'T Panic - Start PRODUCING*****

On March 19th, 2008 brainon4u2 says:

(Feds Cause Depression)

Credible Worries: Fed may be causing Next Great Depression

March 14, 2008 by Rick Koerber
freecapitalist.com

I've been part of this "Producer Revolution" for a few years and want to share SOUND ADVICE!

There are banks and credit unions who are NOT part of these scoundrels - do your homework and support them in your own community.

http://freecapdaily.wordp...

Follow Ron Paul

On March 19th, 2008 roben says:

Ron Paul and his advise is as good as it gets....... No other person in the government seems to understand what is going on ..... and what to do like he does ....... In a way it would be a dirty trick to make him president with the economy going to he.. ll, ......... but he would do a better job of guiding us through it .... than anyone else. ............ The federal Reserve is helping their own banks (banks that own the stock) take over competitors ..... by driving the stock market down (ie) Bear Sterns 2.00 a share!! This is what the bankers call consolidating the businesses around the world into "" their hands"" .. at penny's on the dollar.

Thanks to dis-information specialists................. employed by the.............. Federal Reserve ............. and the Federal government ..... the money is still controlled by the international bankers!! ................ check it out ...............
*****G Edward Griffith***** has spent many years studying the Federal Reserve and wrote the famous book ......"The Creature From Jekyll Island" .. and explains in detail the creation of the Federal Reserve Bank. http://herballure.com/Med... ... Facts that the public need to know ....... http://www.youtube.com/wa... .... http://www.silverbearcafe... Hopefully the agents of dis-information and government spy's will learn the truth about the people employing them, and they will decide to quit their jobs and work for a free American government for themselves and their children. copy this and send these web site to everyone you care about and a few you don't.

Links

On March 19th, 2008 tseemuth says:

Might want to check your links before posting them. All worthless.

whoops

On March 19th, 2008 brainon4u2 says:

double post

Mandatory entitlements!

On March 19th, 2008 oldmom says:

They shouldn't call it that.The only mandatory entitlements are the ones in the Constitution.

Tax

On March 19th, 2008 freethepawn says:

All this talk about taking the tax cuts away from the rich as a way to solve all the financial problems we are having is such a joke. If you took Forbes list of billionaires (over 1000 of them in the world) and added up all their money it only comes out to be about 4.5 trillion dollars. We are 53 trillion dollars in the hole right now (9.2 trillion + what has been promised for medicare and social security). Even if they took ALL the money from all the billionaires in the world it wouldn't fix the problems we are having right now. I think that people don't know how much a trillion actually is. They absolutely will be taxing the living daylights out of everyone, rich and poor. Taxing the bulk of the population will bring in the most money, and they know it.

I don't know how people that can't pay their bills now are going to be able to pay more taxes. The system is on the verge of collapse.

The solution is massive spending cuts.