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Americans Go Bankrupt spiraling economic troubles

Updated on August 7, 2013
What do you need to change for the better?
What do you need to change for the better?

The words “life is not fair” sings true for most Americans suffering from financial ruin and possible bankruptcy due to the turmoil in the financial markets world over.

A recent study at Harvard by Elizabeth Warren, a very well respected professor and expert regarding economic issues shows some very alarming statistics. Her study backs up the link between people who file for bankruptcy and medical problems. Prof. Warren stated that:

As part of a research study at Harvard University, our researcher’s interviewed 1,771 Americans in bankruptcy courts across the country. To our surprise, half said that illness or medical bills drove them to bankruptcy. So each year, 2 million Americans — those who file and their dependents — face the double disaster of illness and bankruptcy.”

Warren also said that

“Every 30 seconds in the United States, someone files for bankruptcy in the aftermath of a serious health problem.” That adds up to well over 1 Million Americans that the study linked health issues with bankruptcy.

When a person is suffering from illness, he or she becomes very vulnerable and at that time you would expect help and support from the government social and health service, not so in America, what you get instead is health insurance companies dealing with your case like vultures making business decision based on numbers while you lay in a bed suffering, and if you are unlucky then they may only pay for certain treatments and refuse other critical treatments that you might require. This is in a country that beats the drums as being the most advanced, caring, civilised and democratic.

Dr. Noam Chomsky Breaks the Set on War, Imperialism, and Propaganda

Yet this very country goes to illegal wars under false pretences killing millions of innocent people in the name of establishing freedom and democracy. In this very country there are more than 2 million Americans who go through bankruptcy due to medical bills.  While the government that the Americans voted in, wastes tax money, in a fashion similar to “leaving the tap on”.

It is high time that the people of America woke up and demanded justice for each and every American person suffering due to illegal wars, greedy financial stock brokers, unethical Bankers, Politician with no scruples and immoral large cooperation’s which have so much influence on how the people are governed in America.

The rich people all over the world continue to get richer especially in America while the working class and the poor in society continue to be marginalised and squeezed for more and more tax.

So where is that money going?

The money certainly is not going into the public purse but instead to multi-billion dollar defence industry and leading financial institutions for bailing them out, while the CEO’s and shareholders of those very companies that initiated the financial melt-down relax on a beach somewhere with the cushy bank balance ranging into millions.

The average American on the other hand goes to sleep on the streets after losing their home and family resulting from financial problems.

When it comes to reducing the tax burden on American people, one is told it cannot happen as America must defend itself against “make believe enemies” but actually the tax dollars go on flying killer robots and foreign military occupations, no country comes close to the United States. According to the Stockholm International Peace Research Institute (SIPRI), the cost of the wars in Afghanistan and Iraq - more than $150 billion in direct spending this year alone - exceeds what China, the US's closest military rival, spends altogether on its armed forces.

Americans can forget welfare programs: bombing the innocent and occupying oil rich countries that pose no credible threat to America - Obama (the winner of Nobel Peace Prize) has so far directly authorized attacks in at least six countries since taking office, including Yemen, Somalia and the latest so called humanitarian mission of $8.3-million-a-day war for peace.

Wake up and smell the stench of the rotten fodder that the government is feeding the average American, while robbing them their hard earned cash through increased taxation and immoral actions.

The pie chart below is from 2009 - Guess what it is now???

Do you know where your Tax dollar is wasted?
Do you know where your Tax dollar is wasted?

Don't just believe what the standard media channels tell you, go out there and listen to experts like the video below, do your own research. Learn the truth!

Noam Chomsky "The Future of American Power"

Want to learn more?
Want to learn more?

What can Joe and Jane American do, to change this?

You can actually do many things listed below are some websites that will provide you with additional information to put into action your desire to change the condition of how people in America are treated.

"War tax resistance is a way of keeping at the front of my mind the killing and suffering wrought by the government's policies, and of voicing my profound disagreement with those policies."

Juanita Nelson

The most comprehensive book available on war tax resistance, covering everything from legal issues to the history of war tax resistance, to the how’s and whys.

Remember God does not change the condition of those people who do not wish to change themselves. So take action today to stand-up for the injustice and make that change!


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    • Zubair Ahmed profile imageAUTHOR

      Zubair Ahmed 

      3 years ago

      Hi globetrotter

      Many Thanks for reading and the comment.

    • profile image


      3 years ago

      Hi Zubair, nice hub I agree with what you have written here, will be reading your other articles.


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