Posting to razela on youtube january 20, 2008
If it is desired to not tax poor people and the sick and helpless, then I would suggest there be a zero rate sales tax (as they have in the UK) which tax would be applied to bread, milk, bus fares, used items etc as would be appropriate to help the poor, and to hospices, medical centers etc as would be appropriate to the sick and helpless.
But the best solution is to slash the government budget, "downsize the government so they don't downsize us" (catchy slogan, probably needs refining) because if government spending is slashed, the tax bill goes down. Then, the more we can pay off the trillions of national debt, the less we have to pay to service the interest, and the less tax we will eventually have to pay.
Can't we get some sort of balance sheet and income and expenditure schedule from the government so we can examine their spending? we can tell them what line items to slash - like the "airfares for junkets abroad"
My understanding is that inflation is created by putting money into the economy that does not buy anything. For example, funding the war in Iraq comes from a loan from the Federal Reserve. This increases the national debt which increases the proportion of taxes that have to be used to pay the debt. This also increases the bank balances of the contractors in Iraq, and weapons makers in the USA with a very small creation of infrastructure in Iraq, and depletion of resources in the USA which could have been used to make better cars, safer bridges, smoother roads, and energy efficient buildings in the USA. So all this extra money is let loose into the economy with no corresponding increase in consumer goods and so you have an increased money supply but no increase in products to spend the money on. So the price of goods goes up! But the clever oil people get in there first and up the price of gas, so you spend more of your salary on gas rather than on a new house. This is called inflation. It is a very simplistic view, but in essence is what is happening.
Keep up the good work Razela, focus on solutions and ignore those who present problems and you will do alright.
If it is desired to not tax poor people and the sick and helpless, then I would suggest there be a zero rate sales tax (as they have in the UK) which tax would be applied to bread, milk, bus fares, used items etc as would be appropriate to help the poor, and to hospices, medical centers etc as would be appropriate to the sick and helpless.
But the best solution is to slash the government budget, "downsize the government so they don't downsize us" (catchy slogan, probably needs refining) because if government spending is slashed, the tax bill goes down. Then, the more we can pay off the trillions of national debt, the less we have to pay to service the interest, and the less tax we will eventually have to pay.
Can't we get some sort of balance sheet and income and expenditure schedule from the government so we can examine their spending? we can tell them what line items to slash - like the "airfares for junkets abroad"
My understanding is that inflation is created by putting money into the economy that does not buy anything. For example, funding the war in Iraq comes from a loan from the Federal Reserve. This increases the national debt which increases the proportion of taxes that have to be used to pay the debt. This also increases the bank balances of the contractors in Iraq, and weapons makers in the USA with a very small creation of infrastructure in Iraq, and depletion of resources in the USA which could have been used to make better cars, safer bridges, smoother roads, and energy efficient buildings in the USA. So all this extra money is let loose into the economy with no corresponding increase in consumer goods and so you have an increased money supply but no increase in products to spend the money on. So the price of goods goes up! But the clever oil people get in there first and up the price of gas, so you spend more of your salary on gas rather than on a new house. This is called inflation. It is a very simplistic view, but in essence is what is happening.
Keep up the good work Razela, focus on solutions and ignore those who present problems and you will do alright.
posted by Stephan Hokke at 8:20 PM
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