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.