Public Welfare “Safety Net” Resting on A Bottomless Pit of DEBT!
Kpainfish >>>Everyone could work and then chip into a central fund and then the government could fairly redistribute it to those in need and pay for everything. Isn't that what's kinda happening now anyway?<<<
No. That is not what is happening anyway. Fair distribution and paying for everything is almost opposite what is now going on. Current income/wealth distribution, by any measure is not only unfair it further enriches the ruling elite at the expense of the middle class; and too damn little is getting paid for.
The problem of US Debt is as unsolvable as Illegal Immigration. The two political parties controlled by transnational corporations, the ruling elite, and other self-serving interest groups have created unredeemable debt and uncontrollable illegal invasion.
What makes any rational voter or taxpayer think those who created these problems can or will develop viable solutions?
The only solution, a practical impossibility, is for the people to reassert control over self-serving politicians that are increasingly more responsive to getting reelected than to the urgent needs for fundamental tax, welfare, and immigration reforms; than keeping their oaths of office or putting the interest of the USA above their own.
The public needs an honest monetary system where savings are not eroded by a depreciating fiat currency; so, they can save for retirement or a better life, to seek their goals. Stimulated by defective tax and welfare laws, resources have, for decades, been misallocated, now making the USA more vulnerable to economic decline than anytime in history.
The country is living on a national credit card that will eventually exceed its limit. While the IRS is collecting a little over $2 trillion annually, its fiscal (explicit and implicit) obligations are increasing by 2 ½ times that amount, annually. See GAO Report gao.gov
Present retirees, such as myself, enjoy benefits that are exceedingly generous; but that would be okay if they had been adequately funded (with real investments instead of Government IOUs) during our working careers. They were not. My AF retirement check and two SS checks are being funded by excessive tax collections from my sons and my grandson and by NEW CREATIONS of NEW DEBT that is not sustainable.
Higher taxes collected from Baby-Boomers were supposed to pay for current retirees PLUS surpluses to fund their own. Social Security and Medicare are ALREADY running cash-flow deficits and combined with other entitlement spending requirements the government can’t print enough currency (without causing hyper—inflation) to make up the shortfalls. So, the US government just keeps piling up trillions in unredeemable debt.
Almost any other “ism” would be better than the economic and social mess that has been created by politicians who put reelection before their oaths of office.
SargeK
By John Koraska “Getting Ready for Hard Times" debtism.com |
