Building on a previous mini-documentary that focused on theory, this video from the Center for Freedom and Prosperity Foundation presents real-world data and research showing that the burden of government spending is far too high – not only in the United States (where the Bush-Obama policies have increased the federal budget by more than 100%), but also in other nations where government budgets sometimes consume more than one-half of an economy’s output. www.freedomandprosperity.org
What a laugh! The US has greater consumption because its citizen have paid lower taxes since President Reagan became President around 1980. The resulting gap between government tax revenues and government spending has been made up by borrowing from the China and other countries. Now the chickens have come home to roost and the bubble has finally burst.
Of course the annual GDP growth from this Ponzi scheme has been stronger than European countries (while the Ponzi scheme lasted, that is). But the European countries have health insurance, universal health care, unemployment insurance and a host of other life-enhancing benefits to ensure quality of life and equality of opportunity. Why? Because European politicians accept a more moderate GDP growth for a more secure, more stable and more fair society.
In the US, the richest 10% of the population consume 30% of the total income of the country, while the poorest 10% of the US population has to SHARE 1.8% of the total income. (See World Development Report 2000/2001 and World Development indicators, 2003) So when unfunded lower taxes stimulate growth, who rakes in 30% of the income? Not the average American and certainly not the poor. The 10% richest of course.
But most Americans are so totally brainwashed by their ‘American dream’ ideology that they think the system works for them while all it works for is the filthy rich. Perhaps the ongoing demise of the US empire will engender a little reflection on the part of the majority of its population. In the meantime, please take your rich man propaganda away and try and fool someone else.
Trade Forex where technology meets the world of finance; where technology meets foreign currency.
Our Forex platform was developed by traders who understand the needs of a successful trader.
PROTECT AND GROW WEALTH OFFSHORE
Protect Yourself and Your Assets against Devaluation of the Dollar, Currency Controls, Tax Hikes and Nationalization!
By Prieur du Plessis, on September 17th, 2009 posted in: Economy, Investment, Markets, Money 
One comment so far
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
Email
Byron Wien Announces “The Ten Surprises” for 2013
Prieur’s Readings (January 3, 2013)
Bob Farrell’s 10 rules for investing
Running 2012 NYC Marathon – a means to a better life for impoverished children
Prieur’s Readings (August 29, 2012): No “death of equities”
What a laugh! The US has greater consumption because its citizen have paid lower taxes since President Reagan became President around 1980. The resulting gap between government tax revenues and government spending has been made up by borrowing from the China and other countries. Now the chickens have come home to roost and the bubble has finally burst.
Of course the annual GDP growth from this Ponzi scheme has been stronger than European countries (while the Ponzi scheme lasted, that is). But the European countries have health insurance, universal health care, unemployment insurance and a host of other life-enhancing benefits to ensure quality of life and equality of opportunity. Why? Because European politicians accept a more moderate GDP growth for a more secure, more stable and more fair society.
In the US, the richest 10% of the population consume 30% of the total income of the country, while the poorest 10% of the US population has to SHARE 1.8% of the total income. (See World Development Report 2000/2001 and World Development indicators, 2003) So when unfunded lower taxes stimulate growth, who rakes in 30% of the income? Not the average American and certainly not the poor. The 10% richest of course.
But most Americans are so totally brainwashed by their ‘American dream’ ideology that they think the system works for them while all it works for is the filthy rich. Perhaps the ongoing demise of the US empire will engender a little reflection on the part of the majority of its population. In the meantime, please take your rich man propaganda away and try and fool someone else.