Posted on 04/07/2020 3:09:41 PM PDT by CheshireTheCat
There are libertarians who favor the two trillion dollar bailout, but basic libertarian principles oppose it. Let me argue both sides and see what emerges...I myself, In sum, from a libertarian point of view, am moderately opposed to the bailout. But I think it's no big deal — in the grand scheme of things. Right now our problem is not the bailout; it's the virus. And what about our problems tomorrow? Well, if there is a tomorrow, we'll deal with it tomorrow.
(Excerpt) Read more at libertyunbound.com ...
Government TOOK my business by forceably closing it under penalty of law. ALL of my expenses and profits are eligible for recovery under suit, PLUS damages.
So, smarty pants, who owes me for this BS TAKINGS ?
Employees put out of work by this should be compensated for their loss.
Goobermint did it. Goobermint pays.
Its just green paper. Has NO intrinsic value. Most wont even ever be printed, just 0’s and 1’s.
China owes you and everyone else.
Members of CONgre$$ noted. Enemies within. Too CS to affix their proud signatures to this POS.
Classic Hegelian. This can go on forever. Template in place. Screws turned. Freedom gone. Plausible deniability built in. Domestic enemies in conjunction with foreign if necessary.
I support the bailout because the government is the entity shutting everyone down. I don’t support shutting everything down though....
The national debt will race quickly to $40 trillion dollars after standing at $5 trillion in 1991.
The current national debty is $24 trillion.
The debt has been running $1.2 trilion/year under President Trump. If he wins another term, by the end of 2024, we will have an additional $6 trillion in national debt, just from the natural overspending we have seen from the past during Trump’s presidency.
Coronavirus bailouts have run to $3 trillion so far with another $1 trillion expected for the 4th bailout.
So adding, $24T + $6T + $4T = $34 trillion national debt by 2024.
But wait! THERE’S MORE!
Federal tax revenue for FY 2020 is going to be bodyslammed. Corporate tax collections will be low due to the lost economic activity and business insolvencies. Personal income taxes will be low due to the layoffs and work stoppagess. Now add in all of the corporate write offs for massive losses. Industries like cruise lines, hotels, and restaurants are going to have massive losses to claim against future earnings.
I can’t put a number on that, but just know that $34 trillion national debt will soar much higher with depressed corporate/personal taxes and corporate write offs against losses.
$40 trillion national debt by 2025 is not at all out of the question.
1991 - $5 trillion
2025 - $40 trillion
We are so screwed. Cloward-Piven never looked so good.
Buy gold. With both hands. Even at $1600, it is better to have gold on hand for the coming financial collapse than be caught with nothing but worthless fiat money.
We. Are. So. Screwed.
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