ELDER PATRIOT – The depth of America’s financial problems has passed the critical stage. We have ourselves to blame for our compassion to the needs of others and for returning the same elitists to rule over us even though we know that they do not represent our personal interests.
Our compassion is so deep that we allowed our elected leaders to run up what will soon be a $20,000,000,000,000.00 debt to ostensibly help certain minorities but that now threatens our Capitalist way of life. It’s important to keep in mind that the twenty trillion dollar debt is growing by 5% every year and is not even the total extent of government overspending because it fails to take into account the fact that political leaders raided our Social Security funds leaving that program even farther in debt than is the general operating budget.
What does this mean and how does this threaten Capitalism?
In 1966 two Columbia professors Richard Cloward and Frances Fox Piven developed what was to become known as the Cloward-Piven Strategy designed to collapse our economy by overloading our public welfare system. Their goal was to create a humanitarian crisis so great that Americans would willfully accept the implementation of socialism in order to feed their families.
Let’s examine just how perilous our financial condition actually is because we believed lying politicians who told us all of these programs were solvent instead of doing the research ourselves. I will use round numbers to keep this as simple as possible.
We are soon to be twenty trillion in debt: $20,000,000,000,000
If we attempted to pay this off over 30 years @ 4%
the annualized payments would be: 1,146,000,000,000
Top 1% of earners currently pay taxes of: 456,000,000,000
Tax burden on the top 1% w/debt repayment $ 1,602,000,000,000
Total Annual Income of the Top 1%: 2,000,000,000,000
Tax burden on the top 1% w/debt repayment $ 1,602,000,000,000
Income left after taxes $ 398,000,000,000
If politicians actually taxed the top 1% to pay for everything that they say they would their effective tax rate would necessarily be over 80%.
But, it’s even worse than that. Over three-quarters of those earners in the top 1% have gross annual incomes less than $1MM dollars which means that our choice will be to crush them financially or to tax the remaining 0.25% so heavily that many may choose to leave the country. With the development of the Internet this a very real threat as many jobs have become completely portable and many others mostly portable making the option of leaving the country very real. Donald Trump already sounded this alarm during the debates where he correctly cited the trillions of dollars that have already left the United States because of our highest in the world corporate taxes. In the process millions of jobs have joined that exodus.
That final threat of the taxpayer to leave the country is the reason behind the one-government Globalist movement so that there can be no escape.
Who are the top 1% of earners in the U.S.? It’s convenient to see them as the ultra rich living extravagant lifestyles but the numbers tell a different story. Entry to the 1% club can be had with an annual income as low as $413,350. These are the people who invest their capital in entrepreneurial start-ups that have historically been responsible for 75% of all new jobs, investments that we have seen diminish dramatically as this President and this Congress have moved us closer towards Socialism making the risk/reward ratio increasingly unattractive.
Instead, politicians talk down to the masses by condemning the 1% as “greedy.” It only took Milton Friedman 2:23 to debunk such idiocy by citing the entire history of mankind’s existence around the globe:
The so-called rich aren’t our enemies as much as the politicians are. Our enemy is the government programs that ignorant and/or corrupt politicians tell us they are implementing to fix our problems. Once again Milton Friedman explains this in a way that everyone can understand:
Even if Congress and the President had a come to Jesus moment and spread the debt repayment over the entire base of 100 million taxpayers that would necessitate every taxpayer taking on an additional annual burden close to $12,000. That’s more than 30 million taxpayers earn annually. That level of taxation would easily devastate an additional 60 million taxpayers who earn between $12,000 and $90,000. And that’s just to repay the debt we have already accrued absent the taxes they currently pay or the personal debt they might’ve accrued.
This is what makes free-spending politicians like Bernie Sanders and Hillary Clinton so dangerous with platforms calling for even greater level of spending including college tuition, reparations for Blacks, and expanded healthcare for everyone. They are preying on the stupidity of the people whose education they have managed on the national level since 1965.
We are now faced with a watershed election. We have reached the tipping point where the right of immigrants to access our social welfare system on top of those already driving our economy deeper into debt by their participation in these “social welfare” programs threatens the economic security of our country. The inability of liberals and immigrants to grasp the fundamentals of responsible Capitalist principles now threatens every American’s way of life.
We have become anesthetized to hearing these large debt numbers but we ignore their meaning at our own peril because the only beneficiaries of this enormous debt are the banks who own the debt and the corporations who share in our government’s largesse, and certainly not our children who will be made to pay for our selflessness, sefishness and/or stupidity. What is most troubling about the accumulation of all of this debt is that the politicians who have encumbered us with it knew better. A fundamental principle of freedom is the avoidance of debt as Thomas Jefferson warned us.
In 2016 we either decide to restore our Founding Principles or allow the current crop of career politicians to implement the final stages of Cloward-Piven and effectively end the American Dream.
Expect these politicians to fight like hell to continue our current policies now that they are so close to achieving their goal of Globalist governance. They have brought us to the brink. They cannot not be trusted to save us now as the passage of the Omnibus at the close of 2015, and the welcoming of 300,000 potential Jihadists this year should prove.