What should concern us is who stands in the way of solution, and why.
DECRYING OBAMA’S VACILLATION ON TAXATION
This article responds to a general perception expressed in a Common Dreams post:
“Candidate Obama vowed that he would give “the Middle Class,” meaning households with yearly incomes of less than $ 250,000, a tax reduction. He reassured the nation that this would not increase the National Debt because he would slightly raise the tax on “the Rich Class” for compensation.
“Now the compensation has been taken off the table with the argument that one must not raise taxes during a faltering economy. Baloney. We have already learned, or we have re-learned, one fundamental fact about economic down turns. The “Rich Class” either cannot or will not stimulate the economy by spending the differential between their income and $250,000 or by investing the differential in stock. A slight increase in their tax rate will not hurt the economy one bit. Apparently President Obama is brown-nosing them. Why?”
Actually, in the debates against Ms. Clinton your observation is at least implicitly true, as he tried to give the impression that no injury or disadvantage would be suffered in terms of accumulation of federal debt. But more broadly, the whole debates on each side of the aisle (including Ron Paul’s purported return to constitutional, [undefined/unqualified] “honest money”) asserted no qualifiable process whatsoever how any purported goals were to be accomplished.
The election therefore thoroughly denied us a single qualification of a few pathetically bankrupt proposals, all of which we invalidated on our pages.
Particularly then, given the winner of “the election,” Obama’s proposal has no prospect of succeeding, because the cause of the failure is a terminal sum of debt under a system which can only multiply debt all the further, as we can only maintain a vital circulation by re-borrowing principal and interest paid in servicing an ever escalating sum of debt… with the sum of debt perpetually and irreversibly escalating by so much as periodic interest on an ever greater sum of debt.
The forces which push “the economy” beyond its limits actually escalate (inherently) to the very end.
Once the terminal sum of debt is reached, the private sector is no longer qualified to borrow further, as they have already reached or exceeded the limits of their credit-worthiness.
Thus, the only “ostensibly legitimate” way to maintain the vital circulation is un-serviced federal over-spending. This too of course only pushes the sum of debt beyond the terminal limit, while the mere artificial neglecting of the obligation to service that debt is all that “artificially sustains” the system.
For my definition of “artificial sustention,” see the following glossary URL, which further explains the limitations of artificial sustention in the terminal stages of the system of exploitation:
- [ KEY ] THE PROBLEM IS NOT DEBT!
- [ KEY ] IF I WERE PRESIDENT — HOW TO ARREST WORLD WIDE MONETARY COLLAPSE IN A DAY
- SYNOPSIS — MATHEMATICALLY PERFECTED ECONOMY™ REDUCED TO ITS BAREST THREAD
- PROBABILITY AND TIMELINE FOR WORLD-WIDE ECONOMIC COLLAPSE AS A CONSEQUENCE OF INTEREST
- EVALUATION OF JEFFERSON’S OPINION ON THE CONSTITUTIONALITY OF A NATIONAL BANK
- WHY DON’T THE DEMOCRATS REVERSE WILSON’S ERROR, AND REPEAL THE FEDERAL RESERVE ACT?
“To find the players in all the corruption of the world, ‘Follow the money.’ To find the captains of world corruption, follow the money all the way.”
mike montagne — founder, PEOPLE For Mathematically Perfected Economy™, author/engineer of mathematically perfected economy™ (1979)
© COPYRIGHT 2008, by mike montagne and PEOPLE For Mathematically Perfected Economy™.
Except for profit making ventures or entities otherwise granted explicit permission to publish this copyright material, this article may be distributed or reprinted in whole only, from and including any quotes preceding its title, through and inclusive of the following permalink(s), by email or otherwise. Visitors may also download our entire directory of regular/main site articles from our downloads page: http://perfecteconomy.com/pg-free-pfmpe-downloads.html. If you want to save your country, we encourage personal distribution of this material to all conducive recipients of your personal address books. Of course, you may also send only the following permalink:
DISCUSS THIS ARTICLE IN THE PFMPE™ FORUM: