Article Image Powell Gammill

Letters to the Editor • Economy - Economics USA

Truths That Create a Blank Stare on Most Politicians Faces

When you tell them:

1.   That no county in the history of the world has been able to maintain a fiat currency for a prolonged period of time. 

A.  That the U.S. dollar has lost over 95% of its purchasing power since WWII. When the Federal Reserve opened in 1914, an ounce of gold equaled $18.99. Today, it takes more than $1,500 fiat dollars to buy that same ounce.

Therefore, you must “eventually” either go back on the gold and silver standard or go into a long term depression. Which one are you going to choose or are you going to continue to ignore history.    

2.   That Central Banks have always manipulated government to control the means of production, through money supply, interest rates and lending policies.

A.  Using high taxation and regulation historically, as today, promoted a massive redistribution of wealth that favors the wealthy through corporate welfare and government employment, contracts and grants. The “average” Federal employee now makes over $93,000 a year and Federal Government spending is expected to reach $6,160,000,000,000 for fiscal 2011, yet the level of homelessness and unemployment is skyrocketing as the value of the $US is at its lowest all time low.  

Our central bank, The Federal Reserve Bank of the United States is a coconspirator in the massive redistribution of wealth and total disregard of the law and our Constitution that has bankrupted our country and must be abolished.    

3.   That the current overall level of taxation in the U.S. has caused many businesses to either go into bankruptcy, move operations or close down.

A.  4,100 factories in the U.S. have closed down since the year 2,000.

B.  $4,486,900,000,000 - Total 2011 estimated revenues for Federal, State and local Gov.

http://www.usgovernmentrevenue.com/yearrev2011_0.html - Where is and has all the money gone my fearless leaders?  Estimated total debt for the various government agencies is $18,093,700,000,000  - Note difference between total debt and revenues.  

 

4.   Government over spending causes inflation which deprives the elderly and others on fixed incomes, the full purchasing power of the wealth they saved throughout their working lives. Inflation slowly bankrupts the elderly as real estate taxes, food, gas and other prices rise. Many are being forced to take $8 to $12 an hour job just to survive.  

A.  Now the current taxpayers must subsidize the elderly.

B.  Now the government must tax current taxpayers even harder.

There is only one way to solve this problem as many

Citizens have now been overtaxed into insolvency and

therefore only a drastic curtailment in government

spending can put large levels of people back to work.

Sadly we must sacrifice a much larger numbers of federal,

state and local government employees for the true well

being of the majority. The continued massive levels of the

redistribution of wealth and overspending by government

will only exacerbate the continued decline in total

unemployment and more importantly the welfare of the

majority. We can no longer sacrifice the welfare of the

majority for the benefit of the bureaucracy.        

 

5.   A high progressive or graduated income tax is the 2nd Platform of Communism. It is not meant to benefit the majority, it is meant to redistribute wealth to the ruling class. The state and federal income tax cannot be fairly administered and is often used as a tool/weapon of government to extort and coerce the Citizens to continue the massive redistribution of wealth with the bureaucracy a major beneficiary. Politicians and the ruling class target their adversaries with audits and prosecutions giving unfair advantage to those with political and monetary ties. As ex-President Jimmy Carter noted, “An Income Tax is a Disgrace to the Human Race”.     

 

As you have come to understand, the cumulative effect of excessive government, taxation and regulation has bankrupted our nation. It has given unfair advantage to those in political and economic power. It has caused the deterioration and devaluation of the $US and continuously raising prices.  It has caused corruption at the highest levels of government, out courts and monetary institutions. And what has our politician done; continue the status quo and instead of abolishing the institutions and policies that have caused these situation, it is promoting even greater levels of the redistribution of wealth by using continually greater, more oppressive and more damaging means of revenue collection, like printing money out of thin air. 

 

By allowing gold and silver to be legal tender, abolishing the Federal Reserve Bank of the United States and by abolishing state and Federal Income Taxes, AMERICANS can start to change the course of our society.  Without changing these three policies, America is destined to continue on the course of self destruction and by the majority ignoring these obvious facts, it will cause the greatest collapse of any society in world history.  

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