Monday, May 17, 2010

Stocks rise and Fall

The recent actions in Europe, mainly Greece, have demonstrated why we need to have a tighter control on our money supply. Since its creation in 1913, the Federal Reserve (If you don't know it is a private company not a government agency, click to see video) has been controlling interest rates and is the sole provider of currency (our money supply). This by far has been and will, if we allow it to continue, destroy our freedoms(and the borrower is the slave of the lender. Proverbs 22:7).

If you take away anything from this, realize what is happening in Greece is our future. The riots are not because there is no food or money, the people who were given public assistance (welfare, unemployment benefits, rent and mortgage assistance, etc.) can't under stand why the people who are paying the taxes to keep them can not keep up with government spending. Wow sounds like us (check out the US Debt Clock). As it shows we are in debt for about $12.9 trillion or about $118,000 per tax payer. Wait it gets better. Scroll down the page and discover that the true number is $108.7 trillion about $352,000 per person, no not tax payer, per person living in the United States, you, your children and theirs.

Our population is about 310 million of whom only 110 million us pay taxes. With numbers like these how will we ever get out of debt? Why are only about a third of us paying for everyone else? Car companies, banks, insurance companies, and other getting welfare, when they should be making money or going out of business. This is not the change many had hoped for. So what should we do?

Economist Dr. Arthur Laffer, creater of the Laffer Curve, has come up with a solution to fix our economy. Remove the current progressive tax system and replace it with a flat tax of between 11 and 12 percent. A difficult tax to get passed because of all the subsidies, corporate welfare, and tax brakes individuals and businesses enjoy. Also this means everyone. If you work for every dollar you make, you will pay 11 to 12 cents of it to the government. People like me who pay more than 11 to 12 cents on every dollar I make love the idea, it's convincing the two thirds who pay no taxes to also contribute. Next action, cut Federal Government Spending by half or more. No more spending money to save mice (ask Nancy Peloci about that), or any other stuff that waste money (Pork Spending). Return States rights or respect the 10th Amendment, when the national debt is paid repeal the 16th Amendment, and lastly repeal the Federal Reserve Act.

It is a fantastic plan and a plan that is equal justice for all.

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