Posted on 04/04/2007 8:10:23 PM PDT by T.L.Sink
The revolt that is to come (ETA 2013) will indeed be driven by demographics.
Twelve years ago a little known CAO actuary who was also a Republican predicted tax rates as high as 85% by 2025 to fund Social Security and Medicare.
So far all of his interim projections have been accurate except that the estimated time of the crisis happens sooner.
Ask yourself if you think people will pay 85%. They will not. No accounting trick will remain to stall the inevitable crash coming.
The is not Chicken Little ranting, this is hard data on population statistics. It’s entirely analogous to warning people that live on the edge of a mountain that the snow pack is getting dangerously high year over year and an avalanche is forecast.
So what will people do if they have any choice? There will be attempts to create loopholes for the rich. The government has already raided the Social Security Trust Fund so there is no access to funds that can stall things. The ‘Federal Reserve’ will print money out of thin air and loan it to government feds to keep payments flowing. The National Debt will rise at a faster rate. It is a given that the system will break, it’s only a question of where and how. Imposition of an 85% marginal tax rate will lead to revolt.
Revolt will prayerfully happen at the voting booth. Tax Reform will be on the lips of all those competing for elected office.
But there is something else that may be up for a momentous change:
http://video.google.com/videoplay?docid=-4312730277175242198
The real revolt will focus on having a government that saves every dollar possible and that means abolishing the ‘Federal’ Reserve (known to be a cartel of private bankers).
That’s called inflation and it’s the reason that real estate, gold and fuels are so expensive. The Fed doesn’t want to face that so it just raises interest rates and pretends that inflation doesn’t exist.
I agree but I think this is where a strong conservative executive leadership is crucial. We didn’t have that. Bush has been good on foreign policy but he signed every congressional pork bill that came before him; not to mention creating the biggest entitlement since LBJ. Conservatism is more than just reducing taxation - it means reducing SPENDING also. Excessive spending is what leads to higher taxes in the first place.
Might as well send them my nuts while I’m at it.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
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