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You can't solve our problems through taxation and revenue. We simply spend far too much.
Everyone knows this.
Yet we just spent another trillion on QE3, like it's nothing. Well you can remove "like", because it really was nothing in that case. But in the end, it will turn in to something and the unwinding of which will be disastrous.
But I don't think anyone says that problems can be solved simply by taxing >250k more.
If pot were decriminalized and taxed the interest on the debt clock would immediately stop ticking from the consumption tax revenue. Likely hundreds of thousands of small business and jobs would be created, economic multipliers would add to the economic growth. It's so obvious it's painful. How's that war on drugs going? Or costing I should say? Insanity. Alcohol is legal and the simple pot plant isn't?
Apart from taxing an industry that already exists in the shadows and will never ever, repeat, never be crushed by the right wing extremists, a new growth industry must take hold. Again, it's obvious, natural gas. It requires a government kickstart, but that's not going to happen so long as the oil men control congress....
More than 170 years ago, the French political thinker and writer, Alexis de Tocqueville saw this coming, and warned of its dangers in his most famous writing, Democracy in America. Here is an excerpt below:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.”
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
The US voters can't vote for largesse from a treasury that is owned by the banks. Over the past ten years Canada has been downsizing and voting the other way, even at a time when we are discovering unprecedented oil resources.
Although the former CEO of Shell Canada, Clive Mather, estimated Canada's reserves to be 2 trillion barrels (320 km3) or more, the International Energy Agency (IEA) lists Canada's reserves as being 178 billion barrels (2.831010 m3).[4]
Our public treasury cannot sustain further “largesse.” Our national debt has ballooned to more than $16 trillion. The top 25 percent of wage earners contribute 87 percent of all tax revenue and it is numerically impossible to tax them sufficiently to pay for this expansion of federal government – let alone pay down our debt. For another viewpoint, read Rex Nutting’s column on the 47%.
Our entire fiscal and monetary policy is now based on one simple axiom: What we cannot tax, we borrow, and what we cannot borrow, we print.
The path we are on in 2012 is perilous and unsustainable. We must change course.
This November, Americans will not simply be choosing one man or another as president, they will be choosing the future direction of these United States of America.
The question is not whether one candidate is nicer or more likable or even easier to relate to. The fundamental question all Americans must ask themselves is what kind of a nation shall we be? And what does it mean to be an American?
Despite our federal government’s borrowing over a trillion dollars each of the last three years in order to expand “investment” and “stimulate our economy,” we now have a record number of Americans in poverty and a record number on food stamps.
The fact is, the Obama administration is fostering a nation of dependency.
As a result, the very foundations of our nation, and the principles upon which this Republic prospered and succeeded, have been turned upside down.
and
Sadly, those Americans who depend so heavily on government programs seem the most unaware that the programs upon which they rely on are in danger of disappearing altogether. As Margaret Thatcher stated so eloquently, “The problem with socialism is that you eventually run out of other people’s money. ”
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
