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Saving America From The “Make Somebody Else Pay” Mindset

grich903 Wrote: Jan 22, 2013 3:15 PM
The problem is a basic mis-understanding of where government gets its money to pay for these programs. Do you know that the US Treasury Dept borrows 40+ cents of every dollar they spend? And they are basically borrowing from China, Japan and a couple of other nations. And when it comes to paying even the interest on this money, that money isn't just printed up. To print and print money means the dollar that you have loses value - it's at 16 cents per $1 unit right now. We've gone thru Quantitative Easing 3 times and each time the dollar loses value. When these gov officials raise the taxes, it takes money out of the economy, one that is not growing right now. (0.7% right now) And the 47% taxpayer will have to cover it.
“I don’t know what ‘moral grounds’ you think you’re standing on, but as far as I am concerned, what you’re saying is very immoral…”

I was an interview guest last month, and the radio talk show host was asking me about the looming fiscal cliff. In the midst of discussing how our government must cut spending, the host had noted the title of my latest book – “The Virtues Of Capitalism, A Moral Case For Free Markets” – and after a few minutes of discussion, asked “do you mind if we take a phone call, Austin?”

Sometimes that...

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