reply to post by sad_eyed_lady
From my perspective Ron Paul lost the election because MSM did paint him as having a screw loose. For the life of me, I don't see it. If his
proposals are fantasy, as you say, then maybe we ought to widen our scope of reality so this fantasy can be reality.
I cannot explain it. I cannot understand it. But America has been spending about $3.3 t. a year for several years. The annual revenues for America are
about $2.5-$2.7 t. a year. About $300 b. of those revenues are already PLEDGED to either future Social Security payments or to Medicare and to 20
other Trust Funds. So our REAL current spending over current NET revenues is closer to $800 b. a year.
For FY 2007, Social Security and Medicare collections were $870 b., Personal income taxes provided, $1,164 b., Corporate taxes provided $370 b.,
Excise taxes (on liquor and etc) provided $65., the catch-all category, All Other Sources (such as oil royalties) provided $100 b. Total Federal
Revenue: $2,600 b. Or $2.6 t.
Our annual budget shortfall is about a HALF t. a year. Under Bush43, $4 t. of debt was piled on.
As of this writing, the US owes $10.9 t.
YET, no responsible person in politics will tell us the obvious. We must pay more in taxes, NOT less. To see how much our forefathers paid from 1913
onward, go to this website: www.truthandpolitics.org...
WARNING do not go here if you have a weak stomach!
Hugh McCulloch, the newly appointed U.S. Comptroller of the Currency and later the U.S. Secretary of the Treasury, wrote a letter to
American banking institutions. Here are some excerpted highlights:
Let no loans be made that are not secured beyond a reasonable contingency. Do nothing to encourage speculation. Give facilities only to legitimate and
prudent transactions. Distribute your loans rather than concentrate them in a few hands.
Large loans to a single individual or firm, although sometimes proper and necessary, are generally injudicious, and frequently unsafe. Large borrowers
are apt to control the bank. If you doubt the propriety of discounting an offering, give the bank the benefit of the doubt and decline it.
If you have reasons to distrust the integrity of a customer, close his account. Never deal with a rascal under the impression that you can prevent him
from cheating you.
Pay your officers such salaries as will enable them to live comfortably and respectably without stealing; and require of them their entire services.
If an officer lives beyond his income, dismiss him; even if his excess of expenditures can be explained consistently with his integrity, still dismiss
him. Extravagance, if not a crime, very naturally leads to crime.
The capital of a bank should be reality, not a fiction; and it should be owned by those who have money to lend, and not by borrowers. Pursue a
straightforward, upright, legitimate banking business. ‘Splendid financing’ is not legitimate banking, and ‘splendid financiers’ in banking
are generally either humbugs or rascals.
[edit on 2/16/2009 by donwhite]