"Something a Friend Sent of Interest"
Subject:NOT JUST NOISE
Good Morning Friends,
We are getting ready to start a new venture on Tuesday. Actually going back to work! If we were not doing this new venture for fun and travel my gut inclination would be why work at all? Why work in this fundamentally changed environment.? Why go out and bust my ass in order to give away 50% of the effort to contribute to what appears to be a bankrupt system. Maybe that is a little strong? How about a "Severe Governmentally Challenged System???" I feel better now with the new terminology.
This blew me away yesterday. You may want to share these numbers with your children.
Michele Bachman of Minnesota was talking before a very small group in the House yesterday.She is one IMPRESSIVE lady and I mean that. As she stated:
According to an economic study done at the College of William and Mary the following statistics are what possibly be facing our children when they get to their peak earning years. What did my gut tell me about her presentation and her numbers? Simply that if the study is flawed by even 20% our children are in deep, deep trouble.
According to Bachman here is what the study showed.
For a person born in 1987 this is what they will have to contribute in order to support the ENTITLEMENT SYSTEM that is presently in place. The ages used were 62 for Social Security, and 65 for Medicare.
Out of every dollar earned this is their future Liability.
Social Security: 25%
Medicare 25%
Medicaid D 5%
Fed. Income Tax 30% (You can tell the study is several years old)
State Income 6%
Total 91%
Not included in these figures:
Health Insurance (as we know it today}
Sales Tax
Gas Tax
Property tax
And as she stated a general BREATHING TAX which may be on the horizon.
Also: That a year ago we had $850 billion dollars, (physical dollars) in circulation. In one year the Fed. had printed and put into circulation another ONE TRILLION dollars. As she stated the dollar's value has only been diminished by this expediential amount. That in one year the government has increased the total debt by 22% while the economy has shrunk in the neighborhood of 7%.
Oh yes, almost forgot, Not in the figures is the potential for the Cap and Trade: $1,800.00 per household, and
additional (as the politically correct term are now being called) "FEES" on health care UNKNOWN???? Can't say TAX anymore.
I never was very good at Algebra, but I did have a propensity for simple math. According to my calculations, if these numbers lets for arguments sake are close, it means that for every dollar my kids make they are going to be twelve cents in the hole. Can this work??? HMM?
I wonder what this is going to do to the Housing, Banking, and Car industry?
AND WE WANT TO LET THESE MONKEYS TAKE OVER ANOTHER 16% OF OUR ECONOMY? I think it would be wiser and cheaper to buy them all a football and ???? Never mind.
One last fact she pointed out, and I think there is some truth to this.
Whenever the government gives us the estimated cost of a program it is going to be flawed.
When she says flawed, history has shown the estimates to traditionally be skewed by SEVEN to FOURTEEN times the original estimate. As she stated. Never in the history of our modern government has a program actually come in LESS than the original estimate. So I took this as a negative?
What is the bottom line?? This is simply unsustainable. Changes have to be made. not NOISE, but concrete functional changes. Let's set these Monkeys free?
Have a great weekend and keep the faith!
B.
"Thank you all for taking the time to read this"
