Phatscotty wrote:BigBallinStalin wrote:_sabotage_ wrote:Far be it from me to require defending.
mrswdk wrote:I was getting a little confused about how letting the rich decide where the vast majority of public money is spent relates to what you were saying earlier about democracy, but then you said that this new system of yours is 'overt' so I guess we're all square on that front. Top work!
How were the bailouts detrimental to you? How would you have been better off if the banks were left to collapse?
See all that money that I had saved up, that my family and friends saved up, became greatly reduced in value when the FED issued roughly 17 trillion in new currency to the failed banks. The full effects of the reduction in value have not yet been felt. But the growing disillusion with the US government grows more pronounced by the day. Had the US invested the money in infrastructure, funding new business, improving health care, improving energy independence, or in any way attempted to improve the lives of its citizens, the ones who both paid the taxes and are liable to the issue of debt, then I would be less appalled. Had the collapse happened, then the monopoly money that they continually print would be greatly devalued and my actual assets would reflect their true value.
In the last 5 years, the US has dumped over a trillion into infrastructure; remember 'shovel ready jobs' and there was a huge increase in bridge inspections after the 35W collapse (even though it was some dummy's fault and not the structure itself, never let a crisis go to waste) and here in Minnesota we are rebuilding all kinds of bridges, and I'm sure it;s the same all over the country. As per funding new business, there has been all kinds of new spending to encourage biz to hire vets, and also jobs bill 1 and jobs bill 2, even stimulus was aimed at 'helping' business. Businesses even got a 1 year exemption from Obamacare. The US also dumped a trillion, and it's looking like another trillion will be needed, to 'improve' healthcare. Hundreds of billions were spent on solar energy and wind energy companies, as well as some spent to close down/over regulate coal energy and oil energy (complete gulf shutdown of oil rigs when there was only a problem with 1 rig, also, Solyndra is just one of many solar companies that were actually a black hole slush fund). Even the department of education got a 100% increase in funding in a 2 year period, only to get same to worse results. All this was supposed to improve lives.
You should still be appalled, not because we didn't spend trillions on all that stuff, but because we DID spend trillions on all that stuff and don't have anything to show for it except another 7 trillion in debt (unless you count the 6 people that enrolled in Obamacare)
Trillions of dollars of monopoly money that the US can't and won't pay back. Just be thankful that there are still a few resources that can be stolen or defrauded out of neighbouring countries.
The US needed to take a hit to get us back on track, to reflect international resources and to break our obsessive military intervention. When the chance for the economy to fall was ripe, we let it fester and now we stink internationally.
We are fucked over a barrel. The Fed denied Germany it's gold, and we've been outed tapping Merkels phone by Merkel. It's not like they didn't know, so why are 40 nations all speaking out now as they dump the dollar as a reserve currency? Yeah, we spent money on infrastructure. Some lucky producer got a contract for 5 million coffin like boxes and another for 1.2b rounds, and Obama's position on it is that he is just keeping up with the population. The US is utterly fucked.
On the bright side, maybe the elite will jump this sinking ship and we can get back to being a country.
And TGD, you're a tax attorney, do you really think I would expect you to say "my job is completely redundant". As the jury asked the judge, if the guy broke the law and he says there is none, just show it and we'll find him guilty.
The federal income tax was requested during WWII and people just kept paying out of habit.