Posted on 02/26/2017 2:20:28 PM PST by Laframboise Covenant
Am I directly or indirectly responsible for the national debt?
This information is sent so that an exchange through dialogue be made possible. Almost every day, many people keep saying that the system is corrupt, the system needs change, the system, the system and so on.
Recently it was discovered that this system is an accounting matrix called double-entry bookkeeping. The sole purpose of this accounting system is for PROFIT through a variety of methods such as interest, taxes, etc.
Here is how it begins.
All my life I've heard that we receive value for the income taxes we pay and it is also for the benefit of our social programs and health care. There is some time, I learned that this may be incorrect. I started and I continue to ask questions like what happens to our taxes? Where do our taxes go? Who controls all taxes collected on those who pay income taxes? Where does the value come from? I keep hearing and seeing in the news, in newspapers and on the Internet that Quebec, Canada and many places like Greece and Austria that there are deficits that need to be reduced. What is this word deficit? I discover that it is a debt that must be paid.
It seems that according to various sources of information, the budget must cover the debts. Being mystified by the word budget, a general definition has been found to provide a general meaning as a projection - into the future – possible revenues from any income taxes, taxes, profits, interest, etc. A definition of the word "budget" proposed by the Oxford dictionary: "An annual or other regular estimate of national revenue and expenditure put forward by a finance minister ..."
See the website ➜ http://www.oxforddictionaries.com/definition/english/budget
Thus, looking at the general definition of the term "budget", it seems that there is a link with taxes since taxes are a form of income for the government. OKAY. It's correct. So for a while, I let things pass.
Suddenly, a variety of news sources and information bombard the newswires that I could no longer ignore. When they are talking about the budget, I see and hear words like deficits, austerity, insolvent, credit crunch, offshore, taxes, revenue, bank "bail-ins", negative interest rates, and bankruptcy and so on. These words have become a whole new vocabulary for me.
(See examples at the end of the article available online)
After a while, it became clear that these words are all connected to the word debt.
Deficit, debt, austerity all these words can only mean one thing: debt, debt, debt. The priority of news and current affairs is always put on the debt. We are still in debt for something, the debt must still be paid, etc.
Somehow, somewhere, someone pays the debt for Quebec, Canada, Greece and it goes on and on... Several questions always came back. Who pays this debt? Why so many cuts in social programs and health care programs? Who really owns the debt? Somehow, the debt will directly influence the value of the labor I have performed all of my life and my well- being since I am supposed to benefit from social programs and health care programs, if this is still true. This has been called into question. While being bombarded by these words through the newswires, I began to question what I believe about retirement benefits and social services.
(See examples at the end of the article available online)
NOTICE! Are we as a general population which, ultimately, directly and indirectly responsible to pay the debt?
➜ PLEASE READ THE ENTIRE ARTICLE ON: https://drive.google.com/file/d/0B6U5f-iajjwKaEZjRFo2dkJBbVk/preview
➜ VISIT OUR WEBSITE: http://www.laframboise-security-covenant.com/
If you voted for any politician residing in Washington D.C. you are directly responsible.
You’re welcome !
I think the “raspberry” is in Canada, from that first version of the article he wrote.
It was asking who was responsible for Canadian & Quebecois debt.
Why would he be promoting a revocable trust scheme here in the US?
Another reason to stay a looooooooong way away from that scheme.
The national debt is not mine, no more than my grandparents’ debt is mine.
A deficit is NOT a debt. A debt is a balance sheet item.
A deficit is excess of expenditure over income. Even after a deficit you can still have money in the bank, eg you save for something for a couple of years (not a popular idea nowadays, I know, but possible) and at that point you go out and buy that “something”. In that particular year you may have a deficit because you’ve spent more than you earned, but you are not in debt.
Sounds more like an attempt at a philosophical exercise than anything of real interest - being clever isn’t always....clever.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.