America - Going Going Going Gone?
In 1903 the Federal Government took 1% of your earnings. Government was smaller. There were no social programs – the government couldn’t afford them. Prosperity was good and everyone worked. Only the hardcore dropouts of society did without but even they found ways to get by.
In 1907 there was a depression and the government stood by and did nothing. Within a few months the depression was over without much ado.
In the 1920s and 30s government imposed regulation and taxes. A depression ensued that lasted until 1946. War ravaged the world. Europe and Japan were laid to waste.
In 1972, the United States went off the Gold Standard. Since then the Federal Reserve has tried to control the dollar, interest rates, and the entire monetary system. The outcome has been consistent inflation and rollercoaster unemployment.
In 2008 the subprime mortgage market fell completely apart creating the worst recession since the Great Depression. Government started massive spending in an futile attempt to get people to spend and to bailout Wall Street. But it all went to special interest. Code word Corruption.
In 2009, massive spending quadrupled with continued bailouts, and corporate takeovers. The markets are still stuck on go while massive taxes lay looming in the name of Global Warming and Health Care. The dollar isn’t worth a dime.
For now the government takes 30% – 50% of your earnings depending on what you make and where you live.
The President says we are out of money and congress pushes for more spending and taxing. The Fed keeps printing worthless money and politicians are happy to oblige. China and the oil producing Arab countries want to replace the dollar with a world currency. The ramifications will be crippling.
America, you may have come a long way. But where are you going or are you already gone? What will be the price you have to pay?
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