Forum Post: Unfunded liability of the Federal government is $87 trillion dollars
Posted 11 years ago on Nov. 28, 2012, 2:53 p.m. EST by TheRazor
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This content is user submitted and not an official statement
The entire net worth of America is $63 trillion.
Of course we can tax our way to a balanced budget. Hilarious.
Great now can we have a real conversation about how we are going to tell the debt holders to fuck off. All of them.
The US has been in debt since it's inception, except for a small period of about 3 months during Andrew Jackson's Presidency.
Given this, we have never taxed enough to close the gap, i.e., retire the debt... in our entire history minus this one exception.
Now for the past 40 years we have been working under a different form of currency, no longer gold or commodity backed. Do the austerity and fiscal conservatives even understand this monetary system? No. They default back to the thinking of how currency works under a commodity based system.
Taxes do not support federal level spending. Never have, and under our current monetary system... never will.
No big deal. Relax.
Spread the tax load. Flat tax rate for everyone. Give everyone a stake in the game. Combine flat tax with a 5 or 10% budget cut, across the board, over a 5-year period. That would be a start
Don't worry, be high (and happy)... the obamacats will fix it. Of course, your dollar will only be worth a nickle (and people will keep trying to sell you gold, literally, at rock bottom prices) but at least you'll have the satisfaction of knowing they didn't rip you off.
So what do they suggest? Taking your home mortgage deduction, raising the social security age 'till ten years after you're dead, and lowering the 80% medicare benefit to 40%. Boner's got some set of balls; they're all "nutz."
You will like this article then...
http://thekwanbox.blogspot.com/2012/02/us-pension-liabilities.html
Woe woe woe. That's too much information. You're scaring me.
haha. TheKwanBox is a good site.