At 2AM on New Year’s Eve, capitalism was delivered a tremendous blow by our enlightened oligarchy.
In what only can be described as an assault on capitalism and liberty, our so-called Representatives decided to cut spending, or as we prefer to call it, “misappropriation of our tax funds,” by a ridiculously-small amount. At the same time, their final-hour Hail Mary proposal will confiscate more of our earnings and estate wealth through “percentage increases” North of 11%. That’s right…for those who don’t understand this “magic math,” we will not see a 3.9 percentage-point increase as “almost-four-percent,” we will experience it, in reality, as an 11% increase. (If you received your diploma after 1989, you may want to Google “percentage increases”).
What The Capitalist Union finds most troubling is the fact that the revenues are actually at an all-time high. Also at historic highs: the Federal Government’s ridiculous spending.
All-the-while, the Senate refuses to pass a budget. What is seldom mentioned, is that the prior years’ spending acts as an automatic number to be spent in the upcoming year. A three-percent baseline increase is also baked-into this recipe of fiscal irresponsibility. And did we mention that the aforementioned three-percent is compounded, so when you factor-in Obama’s first omnibus spending package, along with the second stimulus of nearly $2 Trillion, then compound that by three-percent over four years, it totals an additional $200 Billion! Yet no one can be (or cares to be) specific as to where those funds are going.
We didn’t even mention QE 2,3,4 and who-knows-what-else may be coming. Taxpayers tend to forget about the unsustainable, moronic policy of buying our own debt by simply printing money.
No intelligent person can help-but-foresee a complete economic collapse, by simply overwhelming the system.
If there is any “good news” in all of this, it is that we only have four more New Year’s Days of this assault on capitalism and personal property rights.
