Nation overspends, needs a bailout, part of the bailout is that the government seizes a percentage of savings accounts over 100,000 euro.
Government of Cyprus has turned into nothing more then common criminals. If Cyprus can do this, what is stopping Spain, Ireland or even the united States from seizing bank accounts?
For several decades rich Russians have used Cyprus as a form of tax haven, much like what U.S. companies are doing to other nations. If Cyprus can seize money from bank accounts, what is stopping The Caribbean Islands from seizing money from google, facebook,,,, and other companies who offshore for tax havens?
How much more will the people tolerate before they revolt?
The middle class will be being driven into poverty one way or another. If the banks can not bankrupt the nation, the government will just take what they want.
There is an old saying, “no man is an island.” What affects my neighbor also affects me. If we take a look around the United States and Europe, we see one thing in common, the banks driving the nations into bankruptcy.
Whether its the United States, Cyprus, Spain,,, banks have made so many bad loans they have to be bailed out, and at the expense of the tax payer.
In the long run this spells out two things – the banks end up with property is made bad loans on and later repossessed, and then the tax payer is in debt to the banks for their bad loans.
Cyprus – We should all be concerned about bank bailouts, and we should especially be concerned about what is happening in Cyprus. Instead of taxing the organizations who can afford it, the government is going to take 10% from all savings accounts across the nation.
Saving to buy a home? Saving to put your kids through college? Well, 10% of your money just disappeared.
Following a long battle with cancer, Hugo Chavez has died.
For those of you who do not know my opinion Hugo Chavez, I think he was a great guy. Hugo took money from the oil companies to provide for the poor. Which is something the US government will not do.
While companies like Exxon and Microsoft skirt paying their taxes, Hugo Chavez made sure multi-billion dollar companies paid their fair share.
Several year ago Alaska was having a rather harsh winter. Hugo Chavez offered to donate heating oil to needy families for free. While the United States government sat by and did nothing, Hugo Chavez stepped forward to help those that needed help. In their arrogance the people rejected the help offered by Hugo.
Why was Hugo Chavez painted as a villain? Because he stood up to the United States, and he stood up to the oil companies.
While the U.S. government does nothing (or very little) to help the needy, Hugo stepped for to provide for his people.
Who cares if he was socialist, or communist,,, or whatever he was. He made sure people were taken care of.
Shouldn’t a persons legacy be filled by what they did, rather then what their political beliefs were?
The reason why the post office is having problems, they are not allowed to have a cash surplus. Any profit the post office makes has to be turned over to the federal government.
Like all other federal programs, the post office has been raided to fund other projects – military, welfare, food stamps, foreign aid,,,.
It’s not that the post office is broke, its federal governments out of control spending that is the problem.
The United States is bankrupt, and its just a matter of time before the bill is due.
Instead of making companies like google and exxon pay their fair share in taxes, the government gives tax breaks to corporations, taxes the middle class, then bankrupts programs like the post office.
Our roads are falling apart, the US is lagging behind on internet access, our standard of living is declining, social security and social security disability are going broke, and now the government is cutting out saturday delivery of the mail.
The economy shrank during the biggest spending time of the year – Thanksgiving and Christmas. If the economy shrank during Christmas, that says people do not have expendable income.
The economy shrank during one of the biggest panic buying phases in the firearms industry since the 1994 assault rifle ban.
Not only were people spending money on Christmas, but they were also buying all the guns, ammunition and magazines they could get their hands on,,,, and the economy still shrank.
One thing that caused a slowdown in the economy was a reduction in military spending. The question I have to ask, why does government spending play such an important roll in the economy? Maybe the government does not want the people to know how bad the economy really is?
The nation is screwed, and I mean royally screwed.
The government is so far into debt, there is no way future generations can pay off the debt. As of the posting of this article the US Government is $16.4 trillion in debt. With credit card debt and student loan debt, we owe more like $58 trillion.
If the nation is broke, how are we supposed to bankroll millions of new people collecting benefits?
Kidney stones suck
We were supposed to go to the homestead this weekend. But on friday I started having pains so bad I had to take some Vicodin – which I have a prescription for. The stupid stone did not pass over the weekend.
Maybe something went terribly wrong in the past 100 years? Something that has to be fixed before society breaks?
Why would other first world nations view our justice system as barbaric? Maybe its because we punish people for their entire lives for a one time mistake? Maybe its because of how we demonize acts such as smoking weed?
If something does not harm society, why should it be illegal?
Lets take making your own whiskey for example. Why is it illegal to make your own whiskey? Because the government loses tax dollars on the manufacture and sale of the whiskey.
Why should someones life be ruined because they wanted to make and sale a product, and not pay taxes on it? Is it “that” important that the government collect a dollars in sales tax?
Someone makes their own whiskey and sales it, so what? What it he big deal? Are people people who sale eggs arrested like people who sale whiskey?
Why cant people make a product at home, sale it to their friends and family without having to worry about being arrested and thrown in jail?
As a Republican and Libertarian, I have to ask what are the party leaders thinking?
The nation has overspent since the arms race of cold war. Once the cold war was over, military spending continued to spiral out of control. Coupled with welfare and corporate welfare, we are broke. We are past broke, we are 16 trillion in debt, and climbing, or rather sinking.
Who in their right mind would argue against the rich paying their fair share?
Capital gains pays less taxes then regular income,
Companies like facebook and google can offshore to lower their tax burden,
But yet, everyday working people are taxed till it hurts.
The middle class is being taxed to death, and all the Republicans can think about it protecting the rich?
After obama won re-election, the Republican party needs to do some soul searching. Do they serve the people, or do they serve an elite few? The party has effectively isolated minorities, gays and now they are working on isolating the middle class.
How much does the Republican party expect the voters to put up with? Are we supposed to keep protecting the rich until there are only 2 classes left, the rich and the poor? If the economy keeps its present course, and taxes keep going up, the middle class is going to die.
Maybe, just maybe, the Republican party will be voted out before the middle class is taxed into the ground.
But then again, if the Republican party is voted out, that leaves only the democrats.
Maybe its time to vote in another party? Maybe its time to kick the two major parties out and get someone else in power?
I thought about putting this in off topic, but since the discussion will revolve around the current political situation, I decided to put it here.
If we go back 100, 200, 500, 1000 years we had rampant disease, periodic starvation, wars,,, and people still reproduced.
Today, we live in an oppressive society that is overly regulated.
The US is deep in debt, and has no solution in sight.
Seems every nation and their brother and sister has nuclear weapons.
Cost of living has outpaces wages.
With all of this and more, why would anyone want to bring a child into the world?
Even basic stuff, such as home ownership is a fading dream for most people.
College education cost a fortune.
There was once a time when a person could finish high school, then go to work in a shipyard, steel mill, car factory,, and earn a good living. But those days are far behind us.
Why would I want to bring a child into the world, only to watch that child struggle with college, struggle to buy a home, struggle to find a job,,,.
As humanity progresses, shouldn’t things get easier? Shouldn’t getting an education get cheaper and easier? Shouldn’t owning a home get cheaper and easier? Its as if humanity reached a pinnacle in the 1970s, and it was downhill from there.
Wages have stagnated since the 1990s, while cost of living has skyrocketed, especially the cost of home ownership.
One sad fact, the poor are outbreeding the middle class and the rich.
For the middle class and the rich its an economic advantage to only have one, maybe two children. The cost of daycare, clothing, school supplies,,, plays a factor in planning how many children the couple will have.
For the poor, its an economic advantage to has as many kids as possible. The more children the family has, the more benefits they draw. Once the family reaches a certain child:income ratio, the government will give the family grants for the parents to go to school.
If you want your college paid for, have a couple of kids and apply for grants.
One reason we have children is because we want to leave part of ourselves behind. Through our children, and our childrens children, part of us will live forever. But is carrying on our family worth the misery our children will have to go through?
Another reason we have kids is because the husband and wife love each other, and the children are a symbol of that bond. Do you think 3 or 4 generations later anyone is going to give a crap about how much you loved your spouse?
Another reason to have children is partially based on religion. God told Adam and Eve to go forth and multiply. With 6 billion people on the earth, maybe we have multiplied enough?
Governments of the world are corrupt, we produce enough pollution that humans are changing the global climate, and we keep reproducing. Why?
Infrastructure – Have you been keeping up to date on our infrastructure? We can not even keep our bridges updated, how are we supposed to fight a war with a major world power?
How many power plants have been built in the past 25 years? Not enough to stop rolling blackouts in peak summer months. If we can not even keep the lights on, how are we supposed to fight a war?
How many steel factories have been closed over the past 30 years?
Do we have the capability to make enough steel to build ships?
Shipyards – How many shipyards have been closed in the 1980s? Maybe dozens. Shipyards all along the gulf coast have been closed and demolished over the past 30 years.
In the early 1980s as the U.S. started importing more oil from OPEC, the need for offshore drilling rigs declined.
Two major shipyards in the southeast Texas area closed in the 1980s – Livingston shipyard in Orange Texas and Bethlehem shipyard in Beaumont Texas. Both shipyards were stripped and the equipment sold off to the highest bidders.
The old American Bridge yard in Orange Texas is still in place.
The US can not continue on its current path of excessive spending,
Tax payers are not the cash cow for fortune 500 companies,
The FBI is not the private security firm for hollywood or the recording industry of America,
Public funds should not be used to bail out banks,
Public funds should not be used to bail out wall street,
Public funds should not be used to bail out any company,
Government employees should be held accountable for their actions,
CEOs of fortune 500 companies should be held account for their actions with prison time,
The US is not the worlds police force,
Welfare recipients should have to give something back to the community,
The US should not have to answer to the world trade organization,
Illegal immigrates should be prosecuted just like other criminals,
Elected officials should be held accountable for laws that harm the public health,
Elected officials should not make a career from public money,
Companies should not be allowed to write their own laws,
The public should not be forced to purchase a product,
The government should have a budget, just like everyone else.
The downfall of the US is going to be a combination of entitlements, combined with leaches that will suck that last drop of tax payer money from the government. These “leaches” are not people, but corporations. So its the people that are in control of the corporations that are sucking the US dry.
Why are wall street and the banks entitled to special treatment? Why is public money used as a substitute for sound financial dealings?
Person or small business makes poor decisions, they have to file for bankruptcy. Nobody bails out John Doe who works at the local welding shop.
Bank or wall street makes bad decisions, the government writes them a check.
How are people supposed to be held accountable for their action if the government turns a blind eye?
you know what would be nice, if I could convince the government to force everyone in the US to buy my product. Just think about the profits I could bring in. Well, that is what the insurance companies and obama has done. we are no longer free people, we are a cash cow waiting for big business to tap into.
There is unrest in the streets, the people have had enough, our government is corrupt, our factories are closing, our jobs are shipped to china, price of food is going through the roof,,, how much more can we take?
I think if we continue on the current path, the number of people drawing social benefits, and the number of people out of work will drive this nation to a breaking point.
Local governments will not be able to raise enough tax dollars to support themselves, but the people will continue to demand schools, social programs,,,, until something has to break.
I think there are 2 factors working against the US, free trade and too many social benefit programs.
Free trade – as more and more factories are closed and shipped to china, there are 2 profound effects.
1 – the tax base is shifted to the people. Instead of a factory paying property and school taxes, that tax burden is shifted to the people.
2 – lower wages. As the factories are moved to china, people will have to either be retrained, or take a lower paying job.
The people go through a cycle of lower wages -> higher taxes -> lower wages -> higher taxes. Until finally the government can not meet its financial obligations. If you want an example, take a look at Texas and California. California would rather take care of its illegal immigrants, then to kick people off the system.
Social benefits – my personal opinion, the US government has fostered a sub-culture of people who think they are entitled to food, free health care and a place to live.
My wife and I have a friend works for as a teacher for a local school. When the teacher asked the students what they wanted to do with their life, one student raised his hand. The student said he wanted to be like his grandfather and his dad, and get his monthly check in the mail. In other words, this child was looking forward to living on welfare, just like his dad and grandfather have done.
What kind of society are we when we allow generations of people to receive social benefits?
Instead of sending people on welfare to college and getting them off the system, our government fosters a culture of people who suck the tit of the government for as long as they can.
The tipping point
The US will be facing a turning point in the near future because of the baby boomers retiring. The baby boomer generation worked their whole lives, paid into social security, and now deserve to reap the benefits from their labor.
Opposite of the baby boomers are the people who never worked a day in their life, and expect the same benefits as the people who paid into the system for decades.
We can not have it both ways. We can not have people working their entire lives, and people who never worked drawing the same government benefits.
When both groups (the workers and the non-workers) try to draw benefits, something will have to give. Either the government will have to revamp the US social benefits programs, or taxes will have to be raised, or the federal reserve will have to print more money.
More then likely, the federal reserve will fire up the printing press and print more money that is not backed with anything.
I look for election 2012 to be the year that serious issues are brought the the forefront of the debate. Hopefully this will be the year that the US faces the problems that have been ignored for decades. But like an infection, you can only ignore it for so long.
When I was in school, we were taught about the great depression, what I was not taught was that people rioted in the streets. Much like what we are seeing today, the same thing happened in the 1930s. People are angry, and have had enough.
From the local Beaumont news, it appears that Joe Deshotel supports a state income tax for Texas. Its time to stand up to tax happy politicians – when its time to reelect Joe Deshotel, say no to a state income tax and vote for whoever is running against Joe Deshotel.
The people have to draw a line in the sand, and its a line that we do not cross. Texas has money to take care of illegal immigrants, but we are supposed to be broke?
Say no to a state income tax – the power to tax is the power to destroy. The federal income is a failure. Instead of the tax base being shifted to the people that can afford it, the tax burden is placed on the shoulders on those that can not afford it – the middle class and the poor.
But for some reason, an income tax for Texas is “supposed” to be a good thing?
Stand up to tax happy politicians, and vote no to Joe Deshotel.
Check out the Libertarian website to see if you have a Libertarian candidate running in your area.
How many times do people have to vote for the two major parties before they realize there is no difference?
It took both parties to pass the North American Free Trade Agreement – NAFTA
It took both parties to pass the banking bailout scam.
It took both parties to pass the General Agreement on Tariffs and Trade – GATT.
It is taking both parties to continue this war in Iraq.
It took both parties to establish the income tax.
It took both parties to send millions of our jobs to China, Taiwan and India.
It has taken both parties to increase our taxes to where they are today.
Do you realize that the average American spends about 1/2 of their income on taxes?
1. Social Security
2. Medicare / Mediciad
3. Income Tax – both at the state and federal levels
4. Property Tax
5. Sales Tax
6. Fuel Tax on Gasoline
7. FCC charges on your cable TV bill
8. FCC charges on your phone bill