[Homestead] a financial article
lynnw1366 at hotmail.com
Sun Feb 1 10:39:44 EST 2009
Has anyone else noticed that there is growing rumbling among the unwashed
masses? Mostly concerning the bailout and bonuses. I read more and more
references of meeting in Washington with pitchforks and torches. Maureen
Dowd has a good oped that captures the spirit. Hope Obama is listening.
Tioga Co. PA
----- Original Message -----
From: "Lynda" <lurine at com-pair.net>
To: <cayadopi at yahoo.com>; <homestead at lists.ibiblio.org>
Sent: Saturday, January 31, 2009 1:51 PM
Subject: Re: [Homestead] a financial article
>I think a number of things got us into this current mess and that it will
> only get worse but not for the reason state "When half the people get the
> idea that they do not have to work . . ."
> I was listening to some nut financial wizzard that was on one of the
> news programs DH watches each morning. Blah, blah, blah about how the
> commonly known as the working poor don't pay income taxes. All they pay
> payroll taxes.
> That is just plain scary that some supposed financial wizzard, some
> economist doesn't know or understand what payroll taxes include. That he
> either doesn't know or understand that the working poor pay taxes. They
> not pay much but they do pay income taxes. This guy went on and on about
> how they never pay any money in and all they do is take money out.
> Per capita, based on relative income, the working poor put more money into
> the economy than the working class and the middle class. What they don't
> is keep the banks running by stashing money in savings accounts or play
> stock market.
> ----- Original Message -----
> From: "Leslie" <cayadopi at yahoo.com>
> One more thing...skip if not interested in what is going on economically.
> highlights: Pinnochio Bush increased Fed budget by 60% in 8 years,,, Obama
> is increasing it an additional 25% in his first 3 months.
> US citizens are financially illiterate, and basing their decisions on
> numbers/statistics produced by a government who knows the citizens are
> financially illiterate.
> Chinese & other foreign investors - purchases of US Treasuries dropping
> the cliff. Only buying 1-3 year maturity dates. (FYI - this is potentially
> financial nuclear bomb for the US - as all they have to do is not rollover
> at maturity.)
> A quote from Ayn Rand in the article:
> ""You cannot legislate the poor into freedom by legislating the wealthy
> of freedom.
> What one person receives without working for, another person must work for
> without receiving.
> The government cannot give to anybody anything that the government does
> first take from somebody else.
> When half of the people get the idea that they do not have to work because
> the other half is going to take care of them, and when the other half gets
> the idea that it does no good to work because somebody else is going to
> what they work for, that my dear friend, is about the end of any nation.
> cannot multiply wealth by dividing it."
> John Gault/Ayn Rand"
> UK on its way to follow Iceland.
> And just how bad things are getting at the banking level,, how close to
> Stuff like that.
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