Politicians have struck again - this time attacking your retirement savings, healthcare, and impacting your life in even more dastardly ways that you ever thought possible - and you may have even asked them to do it. Yes, it's a sad but true tale of trusting and letting the government, a.k.a. politicians, run our lives.
Politicians have put new laws into the books that will allow the government to take (confiscate) almost $4 out of every $100 of investment income you make - these investment include your interest, dividends, annuities, royalties, capital gains, and rental income. This tax is on top of what you already pay in the form of other taxes on income.
Eighteen months from now you will also pay an extra tax for services if you undergo diabetes testing, joint replacement surgery, MRI and CAT scans, pacemakers, and stents, you may be subject to a new tax, taxes snuck into the healthcare bill as part of Obama's plan to rescue America. B.S.
House Democratic leader Nancy Pelosi summed it all up when she stated, "We have to pass this bill so you can find out what's in it." Her statement was a great indication that the American public was about to be bamboozled. Such idiotic thinking is similar to signing a legal document without reading it only to find out you just signed your entire bank account over to some slick Willy shyster.
Some provisions of these laws are already in the books. Their appearance started in January 2011, and others go into effect in 2013 and 2014. What can you do? Write your Senators and Congressman TODAY. Demand explanations of their stance and if they voted for a bill they never read ask them WHY they were that stupid, then vote them out of office. They aren't in it to serve your best interests.
The BIGGEST threat to your money and the American way of life is our governments willingness to print its way out of trouble. That's idiotic, too. Printing money is not the way you corral a debt structure problem. That is similar to you writing bad checks, while stating you have the money to cover your debts. It didn't work for Great Britain following WWI and WWII and it still doesn't work that way in 2011. Printing money to cover debt leads to uncontrollable inflation, as eventually the value of the dollar coupon will become worth less - a.k.a. worthless.
Want proof? Turn on your TV and look at what's happening in Europe. Greece is about to default on its debt obligations. Italy is in much deeper dire straights and will default, too. The default of these two countries alone will plunge Europe into a sovereign debt and banking crisis that will lead to massive inflation. The debt carried by France, Germany, and the USA places us at the risk of financial collapse. As a result the US will increase deficit spending, print more money and exacerbate the situation. Foreign creditors have already started leaving the US Treasury market in front of the global financial collapse because sources that carry Europe's debt, some 33% of it, comes from American money-market funds.
All of this was brought on by shear stupidity on varying levels. How? Remember when banking institutions were lending jumbo mortgages, I'm talking about sub-prime loans of $250,000 - $400,000, to people earning little more than $40,000/yearly. Insanity. The US government owing more than it takes in, then printing more money to cover the debt. Huge companies, organizations with debt loads two times higher than their revenue streams getting bailouts from the US government to keep them afloat.
Want to stop the insanity? No more bailouts. Stop printing money. No more quantitative easing by the Feds. Restructure the IRS tax laws. Institute a federal sales tax; YES, I KNOW IT WOULD BE PAINFUL, but consider the consequences, inflation that could very well push a loaf of bread to $6 or $7, $28 a gallon gas, and other staple products beyond the purchasing power of more than 70% of all Americans. America cannot save its way out of the debt crisis, regardless of what politicians tell you. The committee commissioned by Obama to save money won't work. The US needs revenue, not fancy tax code and financial manipulation. Call your representatives and demand a resolution this month.
Politicians have put new laws into the books that will allow the government to take (confiscate) almost $4 out of every $100 of investment income you make - these investment include your interest, dividends, annuities, royalties, capital gains, and rental income. This tax is on top of what you already pay in the form of other taxes on income.
Eighteen months from now you will also pay an extra tax for services if you undergo diabetes testing, joint replacement surgery, MRI and CAT scans, pacemakers, and stents, you may be subject to a new tax, taxes snuck into the healthcare bill as part of Obama's plan to rescue America. B.S.
House Democratic leader Nancy Pelosi summed it all up when she stated, "We have to pass this bill so you can find out what's in it." Her statement was a great indication that the American public was about to be bamboozled. Such idiotic thinking is similar to signing a legal document without reading it only to find out you just signed your entire bank account over to some slick Willy shyster.
Some provisions of these laws are already in the books. Their appearance started in January 2011, and others go into effect in 2013 and 2014. What can you do? Write your Senators and Congressman TODAY. Demand explanations of their stance and if they voted for a bill they never read ask them WHY they were that stupid, then vote them out of office. They aren't in it to serve your best interests.
The BIGGEST threat to your money and the American way of life is our governments willingness to print its way out of trouble. That's idiotic, too. Printing money is not the way you corral a debt structure problem. That is similar to you writing bad checks, while stating you have the money to cover your debts. It didn't work for Great Britain following WWI and WWII and it still doesn't work that way in 2011. Printing money to cover debt leads to uncontrollable inflation, as eventually the value of the dollar coupon will become worth less - a.k.a. worthless.
Want proof? Turn on your TV and look at what's happening in Europe. Greece is about to default on its debt obligations. Italy is in much deeper dire straights and will default, too. The default of these two countries alone will plunge Europe into a sovereign debt and banking crisis that will lead to massive inflation. The debt carried by France, Germany, and the USA places us at the risk of financial collapse. As a result the US will increase deficit spending, print more money and exacerbate the situation. Foreign creditors have already started leaving the US Treasury market in front of the global financial collapse because sources that carry Europe's debt, some 33% of it, comes from American money-market funds.
All of this was brought on by shear stupidity on varying levels. How? Remember when banking institutions were lending jumbo mortgages, I'm talking about sub-prime loans of $250,000 - $400,000, to people earning little more than $40,000/yearly. Insanity. The US government owing more than it takes in, then printing more money to cover the debt. Huge companies, organizations with debt loads two times higher than their revenue streams getting bailouts from the US government to keep them afloat.
Want to stop the insanity? No more bailouts. Stop printing money. No more quantitative easing by the Feds. Restructure the IRS tax laws. Institute a federal sales tax; YES, I KNOW IT WOULD BE PAINFUL, but consider the consequences, inflation that could very well push a loaf of bread to $6 or $7, $28 a gallon gas, and other staple products beyond the purchasing power of more than 70% of all Americans. America cannot save its way out of the debt crisis, regardless of what politicians tell you. The committee commissioned by Obama to save money won't work. The US needs revenue, not fancy tax code and financial manipulation. Call your representatives and demand a resolution this month.
By Rich Albright
