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the sad truth about the fed they suck a$$

Submitted by slayed stone on Tue, 08/10/2010 - 4:08pm

With two-thirds of everyone’s personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all  individual income tax revenues are gone before one nickel is spent on the services  which taxpayers expect from their Government.

That’s right—100 percent of our individual income tax goes directly to pay off the debt of non-gold-backed money borrowed from a private central bank that was unconstitutionally given the authority to print money and loan it at interest to the Federal Government.

What can we do to fix this?  In the longterm, we have to return to a commodity-backed monetary system so we can physically pay away the National Debt.  In the short term, we have to completely audit the Federal Reserve, shut it down, abolish the individual income tax by repealing the Sixteenth Amendment and let the people—rich or poor—keep their wages as long as they are legal to be here................what do you think?

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Re: the sad truth about the fed they suck a$$

Submitted by Boanerges on Tue, 08/10/2010 - 8:01pm.
Boanerges's picture
  • I think you are off about the income taxes ONLY paying interest on debt (But admittedly I haven't looked it up) ...I'll add YET. I don't think you are right YET.
  • Commodity backed monetary system, I have mixed emotions about because it does encourage restraint, However It also would put our country at a disadvantage to other countries that are using fiat money. We would also have to either obtain a insanely huge amount of whatever commodity we choose or destroy an ass of wealth to equalize things. That being said we need some type of restraint because fiat money is destroying us.
  • Paying away the National Debt, Great idea. We should start with abolishing about 90% of the federal government.
  • Audit the Federal Reserve another great idea
  • Shut down the federal reserve? Why did we bother toaudit them only to shut them down? Seriously, I am not sure I am ready ust to abolish the Fed Resv.
  • I'd go for a flat tax on sales or an import tariff IF they eliminated the income tax.

Re: the sad truth about the fed they suck a$$

Submitted by Mysandrist Fool on Wed, 08/11/2010 - 9:14am.
Mysandrist Fool's picture

You sound confused by your agenda, boan. You are like the government here. You spend more time wondering than actually doing. How would you shut them down without an audit?

Re: the sad truth about the fed they suck a$$

Submitted by Mysandrist Fool on Tue, 08/10/2010 - 6:02pm.
Mysandrist Fool's picture

Auditing is an exellent idea that is well past its time to be timely effective. But, the sooner, the better!

 

Nice read, dude.