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View Diary: Why Now is the Time to End the Social Security Tax Loophole (87 comments)

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  •  That the federal pension program might not last (2+ / 0-)
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    SilentBrook, RenMin

    is not a misperception or misconception. It is the result of feckless members of Congress threatening to cancel it because their friends in the financial class aren't getting a cut of every dollar flowing out to individual recipients. Making the payout electronic and insuring that financial institutions get to use the month income stream as a float is not perceived as generous enough. I'm sure the banks think they should be able to collect processing fees for each withdrawal, as well.

    Since the federal Treasury is the issuer or our currency and Congress is in charge of managing the distribution, the only reason for the Treasury to collect taxes is to insure that the currency recycles through Washington and is kept moving. That the rate at which the dollar moves has slowed to a trickle is evident from this graph from the St. Louis Fed.

    The reason the dollar is travelling through the economy in slow motion is because too many dollars are being hoarded on Wall Street (day trading in stocks does not sent dollars into the production of goods and services) or sequestered/rationed by Congress to reward and punish the populace. Indeed, Congress rationing may even be responsible for the private sector hoarding ($2 trillion at last count)
    Why would Congress want to punish the populace? Well, 160 freshmen in the House alone in the last four years tells us that citizens do not respect incumbency and have obviously voted for the wrong leader.
    When Willard opined that his election alone would improve the economy, he was not entirely engaged in hyperbole. He was revealing that the economic stagnation has been staged to influence a policy agenda.

    We organize governments to deliver services and prevent abuse.

    by hannah on Tue Mar 26, 2013 at 02:16:21 PM PDT

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