The Story of Broke

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    Jan 19, 2012 2:33 AM GMT
  • commoncoll

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    Jan 19, 2012 2:54 AM GMT
    Note one thing the video has wrong: Social Security and Medicaid/Medicare are the biggest spenders, not Defense. Defense is second.

    http://www.federalbudget.com/
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    Jan 19, 2012 3:17 AM GMT
    This is an awesome video.
    Even though it wasn't directed at Canada we should take a hint.
    It never fails to confuse me as to why people keep searching for the reason why economies can't get ahead. The richest people pay the same, if not less taxes than the common middle class. I think the issue isn't where the money is, but where governments are stubbornly refusing (or are secretively persuaded not) to look. Grrr. icon_evil.gif
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    Jan 19, 2012 6:03 AM GMT
    I think it's amazing at how much and how many different types of taxes we pay in this country but what beats it all is no one really knows where this money is going. Should this country truly be in the state that we're in since there is so much taxes being paid? I know there are all sorts of ways they claim the money is being spent and most state that it's invested within the cities/states that we live in toward improvement projects but I can never see any major improvements and all I ever hear is various cities are low on funding and are conducting major various cutbacks (e.g. jobs, state programs, etc). I just don't see the point in paying all of these taxes if I can't really see it improving things. I view it as a huge ponzi scheme.
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    Jan 19, 2012 2:58 PM GMT
    commoncoll saidNote one thing the video has wrong: Social Security and Medicaid/Medicare are the biggest spenders, not Defense. Defense is second


    Accept that Social Security doesn't just spend but also collects revenue and by what was its reserves of monies paid in by its own beneficiaries owns about 18% of the US debt.

    The US Military retirement fund owns about 2% of the US debt. But the US Military itself does not collect revenue directly (unless out of servicemen's paychecks?) nor did it ever have reserves of its own to help fund the US debt. I suppose, however, that someone can quantify its financial benefits and maybe even show who or what gets most by that.

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    Jan 19, 2012 10:01 PM GMT
    Since I am a Dinosaur myself (metaphorically speaking) I rather like the dinosaur economy.
    Since stone age times men have always accumulated things. if it makes someone happy to amass Ferraris or dildos or Matisses or IPod lists, and if it does not directly harm someone else, let him do it. I am very suspicious of movements that want me to change my life, whether Green or religious or whatever.

    Caslo, you are looking good!
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    Jan 19, 2012 10:04 PM GMT
    southbeach1500 said
    jerbear89 saidThe richest people pay the same, if not less taxes than the common middle class.

    Completely incorrect.

    Really? Just ask Mitt Romney. 15% is very much less than many Middle Class Americans pay. What percentage do YOU pay, compared to the megarich?