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Showing posts with label National Debt. Show all posts
Showing posts with label National Debt. Show all posts
Tuesday, February 4, 2020
King Solomon Blog, Super Fools Folding Hands Naps?
Saturday, February 1, 2020
King Solomon Blog, Prudence of Medicare and Social Security End
Will the 2020 election determine how much sooner these two programs end?
Monday, October 28, 2019
King Solomon, Who Owns the USA Debt?
Or who will be affected or burnt when the time comes that the interest payments exceed tax payments.
Wednesday, May 22, 2019
King Solomon, MMT, Magic Money Tree Missing Elements?
Are Bernie Sander’s and AOC political promises being made based on MMT? Will this latest economic theory lead to the USA collapse of the USA dollar?
Wednesday, April 10, 2019
What does it mean “you get the leaders you deserve?”
I read a Citizen Tom post about the current USA 22 Trillion-dollar National Debt that ended with this quote.
“Let me add, that only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters. — Benjamin Franklin
The Purpose of this Post
Is to question the wisdom or folly of our political leaders’ ambivalence of the consequences of the National Debt rising one trillion dollars a year in relation to the above Benjamin Frankly quote.
King Solomon
30 You have never wanted my advice or paid any attention when I corrected you.
31 So then, you will get what you deserve, and your own actions will make you sick. (Proverb Chapter One)
The rich rule over the poor, and the borrower is slave to the lender. (Proverb 22:7)
Rich and poor have this in common: The LORD is the Maker of them all. (Proverb 22:2)
Excerpts
“Do thieves steal because the law is broken or because they are corrupt? Well, we are stealing from the Federal treasury, and we are doing what thieves do. We are ignoring the law. We are pretending that we are just getting what we deserve.” (Citizen Tom)
“If the 10% Inheritance Tax were implemented, history suggests that upon Democrats regaining control, two things are likely to happen. Unless this can be written in some sort of iron-clad fashion, the Left will ferret out some kind of method to get access to the pot of gold the tax would provide. (D.T. Osborn)”
What’s My Point?
n a previous postdated 6/13/2016 titled, King Solomon on a Sinking Boat,I commented when the National Debt was 17 trillion dollars. My Point is that the National Debt is rising one trillion dollars a year that has been approved by both Democrat and Republican Congresses.
In another previous post titled, King Solomon, AOC Tax Idea, or Mine? Riddle Answer, I proposed a way to pay down the National Debt. D.T. Osbourn commented “My math would work, but warned above that the Left will access the “pot of gold.”
The National Debt are Government Bonds held by mainly USA owners. If our leader’s ambivalence of the certain consequences of continuing to allow the National Debt to grow, the value of the USA paper dollar is certain to diminish and taxes will have to increase to pay the mounting interest debt.
Yet, if you read the news, politicians are proposing new costly benefit programs with no suggestions of means to pay for the programs other than more borrowing.
My point is this. We voters are electing the leaders. According to Benjamin Franklin’s quote, only virtuous people are worthy of freedom. When you are in debt, you are a slave to the owners of the debt you borrowed.
In My Opinion
We are fools to continue to believe that there will not be serious consequences in the future by allowing the National Debt to continue rising at the same pace in the past 18 years. The prevalent thinking that raising taxes on the rich will somehow pay for everything and everyone is folly in both ideas and math.
The present tax system is the cause of divisiveness in the USA. The fact that 50 percent of the population only pays 3 % of Federal Taxes is acting as an incentive to destroy the belief in virtuosity. That is because the idea of the 50 percent of people who believe they do not make enough to pay taxes, and that the other 50 percent should pay instead of them because they make more money than them is not a virtuous idea.
Conversely, divisiveness that because they must work hard to support people who do not work serves to break down the virtuosity in people to help those in real need because of bad luck of uncontrollable circumstances, rather than laziness.
Fairness and justice help promote virtuosity. Unfairness and unequal taxation serve to create divisiveness and destroy virtuosity.
When both rich and poor pay the same tax rates, they can stand side by side in virtuosity and freedom..
If Interested,
Read the source links below and comments in the posts.
You Decide
Ten percent minimum taxation for everyone in life and death, wise or foolish?
Continuation of divisiveness between rich and poor, wise or foolish?
Do our children and grandchildren deserve to be slaves to debt because of the leaders we chose?
Source Links
Citizen Tom Post
D.T. Osborn Comment to My Post
King Solomon on a Sinking Boat
King Solomon, AOC Tax Idea, or Mine? Riddle Answer,
King Solomon, Is it Fair and Just That Amazon Pays No Taxes?
Who Pays Income Taxes?
.
Saturday, February 16, 2019
King Solomon, AOC Tax Idea, or Mine? Riddle Answer
Interested in the answer to the riddle, of why my tax idea would be a wiser, more palatable solution without any complaints from those who pay the taxes instead of OAC idea to impose a 70 percent tax bracket?
Saturday, April 29, 2017
King Solomon, USA Congressional Budget for the World
Ever wonder what the USA Federal Government spends and is involved with around the world?
Friday, September 30, 2016
King Solomon, How the USA Can Again Compete in Trade Against Low Labor Costs
History has revealed the only way the USA can price compete again with free trade against the world.
The USA politicians, including Obama, Trump, and Clinton, believe that reducing Corporate Taxes will offset USA high labor costs to make USA products more competitive in the world and end the 500 billion yearly USA trade deficits.
I do not because the USA workers can ever compete with foreign laborers that are paid $200 a week when a US laborer has to pay $800 a month in rent alone. Add ever rising food costs, taxes Federal, State and local, higher medical cost deductibles, education, gasoline, transportation, etc. etc. and the math will never balance.
Even while high production automatic machinery will reduce production labor costs, it will not apply to all products and services unless the products are manufactured in very high quantities to offset the costs of the expensive machinery.
The Chicago Tribune on 9/29/2016
Kudos to an article that explains how in history, the USA was able to be labor price competitive and even monopolized the world by supplying the lowest costs products in the world. It has been said that we should learn from history, and indeed this article tells us exactly what to do.
Before I reveal it though, I ask you to read this Excerpt from a novel about what I surmised how King Solomon explained two seemingly conflicting wise sayings.
Excerpt
“Solomon, I noticed you studied the writings closely before you solved the riddle. Why did you do that?”
“We have a saying. Sometimes you must gaze upon details for a time in order to better comprehend a problem.” I replied.
“We also have a saying. Gaze not overmuch, and let thy vision be dimmed. It seems we have two contradictory sayings.”
“I do not believe so. My saying means that sometimes we need to study the details of a problem closely in order to find a solution. Your saying states that if you look at a problem too closely for too long, you may become distracted in meaningless details and fail to comprehend what is most important.” I replied.
What is the Problem Politicians Fail to Comprehend ?
The problem is that every year, because of inept USA trade negotiators, the USA has huge deficit trade balances. Yet the politicians still believe Free Trade is good for the USA economy. Politicians are so distracted by meaningless details they fail to comprehend which workers they are supposed to represent.
I believe this Excerpt explains the core reason of the misconceptions of the economic theory of free but failed theory, and why our politicians who favor free but unfair trade agreements in spite of the fact that an ACCUMULATION OF NINE TRILLION DOLLARS OF TRADE DEFICITS HAS RESULTED SINCE THE 1987 NAFTA TRADE AGREEMENT AND SUBSEQUENT CHINA TRADE AGREEMENTS WERE FIRST SIGNED BY BILL CLINTON.
In other words, the trade deals favor trade nations and their economies better than US worker and the USA Economy.
So What is the Secret Solution?
Just read the following Excerpt explained about the current hit play ‘Hamilton,’ one of the founding fathers of the American Revolution. In my opinion, If we could just return to this method to reduce USA product costs we can again, same as in past history, become price competitive with world labor costs.
Hamilton wanted a modern economy, which included funding the national debt incurred during the Revolution. As to why that mattered, think in terms of an international credit score. In the play “Hamilton” when Jefferson says it doesn’t matter. Hamilton answers with a civics lesson from a slaver.
“Hey Neighbor/ Your debts are paid cuz you don’t pay for labor.”
There you have it, the dirty little secret finally center stage where it belongs-free trade has always kept the strangest company. The slave South wanted, no, depended on free trade.
So How Does This Relate?
The USA will never compete with low paid foreign labor until USA labor wages are reduced to the same wages as foreign labor, or if foreign labor wages are increased to US labor wages.
In my opinion, the only viable solution to balance USA trade deficits is what Warren Buffet proposed. HERE
Or, we can reinstate slave labor in the USA to compete with foreign labor wages..
Then again, some US workers being paid minimum wages and working two-part time jobs without benefits or future opportunity for advancement, consider themselves now to be slave laborers stocking shelves with foreign made manufactured products because their former livable wage manufacturing jobs were outsourced.
You decide.
King Solomon
The rich rules over the poor, And the borrower becomes the lender’s slave. (Proverb 22:7)
When you consider this proverb, consider who are the rich who rule over the poor in the USA. Then think of who borrowed the USA the current twenty trillion dollars to the USA National Debt and how it will be paid back to the borrowers.
Regards and goodwill blogging.
Sources
Chicago Tribune ‘A little rap ‘n’ rock on free trade by Douglas Bukowski.
As a Lily Among Thorns HERE
Monday, August 15, 2016
Monday, February 15, 2016
King Solomon, Donald Trump, Fair Trade Post Three
Why, in my opinion, our Congress has done a much better job to represent other nation’s interests, infrastructure, and workers, and future better than the USA?
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