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What should concern us is who stands in the way of solution, and why. mike montagne |
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:
http://perfecteconomy.com/pg-glossary-of-terms.html#artificialsustention
RELATED MATERIAL
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“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)
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