Mind Boggling

[HCT]

I just read this article, it truly is...

Mind Boggling - The True Cost of The Bailout
Posted by chartingstocks1 Dec1

At $8.5 Trillion already pledged by the US Government, the 2008 bailout of the financial sector has become largest single expenditure ever assumed by the US Government (Or any government). Just how large you ask? We've now exceeded the total cost of World War 2, The New Deal, Korean War, Iraq Invasion, Vietnam, The Louisiana Purchase, The Marshall Plan, S&L Bailout, The Moon landing & NASA. COMBINED! In inflation adjusted numbers!

Here's the breakdown of the various government expenditures adjusted for inflation (In today's dollars).

World War 2 $3.6 Trillion
Marshall Plan $115 Billion
Louisiana Purchase $217 Billion
Lunar Landing $237 Billion
Savings & Loan Bailout $256 Billion
Korean War $454 Billion
Roosevelt New Deal $500 Billion
Invasion of Iraq $597 Billion
Vietnam War $698 Billion
NASA $851 Billion

Total: $7.5 Trillion

2008 Bailout: $8.5 Trillion (And counting)

$8.5 trillion is nearly 4 times the amount of revenue that the US government takes in each year in taxes. It is nearly 75% of our entire GDP!

If the US government really wanted to help the economy, the could have eliminated the income tax for everyone for 2008.  Actually, at $8.5 trillion, they could have eliminated all income tax for everyone for 2008, 2009, 2010, and 2011. Letting the people keep the fruits of their labor would have quickly increased consumption and demand. When you give a tax cut to the poor and middle class, they spend it. The rich put it in the bank.

There are going to be major consequences to these actions. By taking money from the many and putting it into the hands of the few, the government is deepening the already lopsided distribution of wealth in this country. These policy decisions move us one step closer to third world status. It is in the third world that most of the population is dirt poor while a tiny minority is extremely wealthy. I hope Americans wake up before it's too late.

"The last official action of any government is to loot the treasury"

[La Quinta]

I can only quote a very educated friend of mine...who I discussed the election with (extensively) and the incoming "philosophy" of taking money from people who make "a lot" (uh...whatever that number has become)  and distributing it to people who do not make "a lot"...  (and I quote)

"When is the last time you were hired by a poor person". (Just made me think in my lifetime...uh...the answer was...NEVER...)

I'll just leave it at that. This is a cooking forum.

[Oldman]

This is a cooking forum.

No this is an open forum. You may express yourself here concerning any matter.

"philosophy" of taking money from people who make "a lot" (uh...whatever that number has become)  and distributing it to people who do not make "a lot"... 

I personally never think it will happen. However, if you look at the CEOs etc. who earn millions to run companies into the ground that we are now bailing out...the idea ("pholosophy") is then interesting.

[Wildcat]

This is a cooking forum.

No this is an open forum. You may express yourself here concerning any matter.

"philosophy" of taking money from people who make "a lot" (uh...whatever that number has become)  and distributing it to people who do not make "a lot"... 

I personally never think it will happen. However, if you look at the CEOs etc. who earn millions to run companies into the ground that we are now bailing out...the idea ("pholosophy") is then interesting.

I agree 100 percent Olds.  ;)  There are many discussions on here that have little, if anything, to do with cooking/smoking.

I do not know how accurate the information is that HCT posted, but the bottom line of his post is right on the mark - "The last official action of any government is to loot the treasury".  A check of history regarding any empire that fell will prove this point.