Posted on 12/03/2012 1:54:19 PM PST by SeekAndFind
I sometimes refer to the Magic Formula for economic prosperity. Here it is:
Low Taxes, Stable Money.
It’s only four words. That’s so it is easy to remember.
The United States was founded on the principles of the Magic Formula. Until the introduction of the income tax in 1913, taxation was almost nonexistent. The principle of a gold-based currency was defined in the Constitution. The result was magical: the United States was the most successful country of the 19th and 20th centuries.
We seem to have forgotten the Magic Formula today. Despite Republicans’ staunch efforts, we are drifting towards “austerity” in the U.S., which means: higher taxes, and some efforts at reducing spending, which typically don’t amount to much. The results of “austerity” have been shown repeatedly now in Europe. The higher taxes cause the economy to deteriorate, and don’t produce the expected revenue. A worsening economy increases the demands on the government to provide welfare assistance, and also leads politicians to attempt to shore up their dwindling support by handing out more cash.
We abandoned the principle of Stable Money when the U.S. left the gold standard system in 1971. Today’s dollar changes value chaotically. It is supposed to do that – it is a floating currency in principle. Floating currencies normally don’t “float” for very long; they sink. The value of the dollar has already fallen to about 1/50th of its value before 1971, when it was worth 1/35th of an ounce of gold. It will probably fall a lot further from here.
Over the next five or ten years, the combination of higher taxes and unstable money will cause problems. This policy trend is happening not only in the U.S., but even more so throughout Europe and Japan.
(Excerpt) Read more at forbes.com ...
“Work For A Living”
There’s your four words.
Austerity?
Where is anyone getting the idea that our government cares about Austerity?
They’re going to raise taxes AND raise spending.
No one in any position to stop them is going to lift a finger to stop it.
It’s Obamaland 2012.
And it’s going to crash.
The US government lived on excises and tariffs (outside of wars) from 1789 to 1913. The average man could live a long life an pay nary a dime.
“Get out of the way” is five words.
He WANTS it to crash,
and he has very different plans for the country, post-crash
than you or I would.
Hayekian.
Australian School.
Mount Pelerin Society.
Uncle Miltie. :-)
Four other words that will work: “Impeach Obama Right Away.”
“Spreadin’ The Wealth Around”...naw, that ain’t it
I like to think that neither you nor I would intentionally crash this nation to start with.
He risks losing control. I know he’s just playing with his miserable little Communist theories, but he’s messing with REAL PEOPLE’S LIVES.
Si se puede? Oh wait that’s only tres.
“Mind your own business”?
Yes!
Hear! Hear!
Okay, we’ll change that to “get outta the way.” That’s four words, isn’t it?
“Not Our Current President”
The “austerity” they speak of, does not apply to government hand-outs, it applies to the taxpayers who will suffer from higher taxes, have less disposable income, and will therefore have to live more austerly.
No one in government seriously aspires to economic stability.
With the economy in a mess, the citizenry panic and turn to... government with their hands out.
It is only in such a situation that those in government can purchase votes with favors and currency.
When the nation is stable and at peace, the citizens might just vote for anybody, so those in government have a deeply vested interest in a f*cked up country.
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