Archive for the ‘Bailout’ Category
The Enumerated Powers Act
If there’s one thing that could reign in Congress, its the Enumerated Powers Act. If this bill were to ever pass, any bill brought before Congress would have to pass a test. The test of “What power is enumerated within the Constitution which authorizes Congress to instill this law?”
It Didn’t Work Then, and it Won’t Work Now
We have all these culturally fond memories of the New Deal and how the policies of Franklin Delano Roosevelt helped to get us out of the Great Depression. Economic evaluation has demonstrated how it did just exactly the opposite. It extended the depression by as much as 10 years and made the low in 1938-39 much lower than it had to be.
Unfortunately, the current policy makers are making the very same mistakes, spending vast amounts of money to correct a problem when that money will be as poorly used as all bureaucracies use money. That money is better left in the market where it will be put to much better management. Understand that the government does not have any money to spend. It doesn’t have a stockpile and it doesn’t have a viable option of printing a stockpile. All that would do is make the money that does exist worthless. This government has a current debt load of $70,000,000,000,000 (seventy trillion dollars) including domestic entitlements and foreign obligations. All you ever hear about in the media is the foreign debt which is about 7 to 10 trillion dollars and rising rapidly. With each new spending package, we are incurring another trillion in debt load.
Worse, is the fact that the banking industry is being bought up by fiscal enemies of our nation and ideology. (Saudis and United Arab Emerites) This means that interest paid to the financial institutions is not recycled into our economy but exported along with the $700,000,000,000 (seven hundred billion) each year in the purchase of fossile fuels. All of this money is coming out of your pockets. It comes out in the form of income tax but this is only the tip of the iceberg. Consider that the company that sells you its products and services is paying sales taxes and corporate taxes and a myriad of other taxes. Here’s a little secret; they put the cost of those taxes into the price of their products so you, the consumer are paying those taxes. Given that little tidbit of information, the injustice of America’s tax system is robbing you of more than 40% of your total income and its rising. However the policy makers try to disquise their methods of procuring your hard earned dollars, it will always amount to robbing each one of you. Don’t be fooled by the speeches and the labels on the tax laws they want to incorporate into the 15,000 pages of tax code. Its all highway robbery of the American work force.
