The thing you are overlooking PT is YOUR taxes never amounted to enough to pay for anything that you used each & every day to make your living
The roads you drove on and the police who patrolled them, let alone any of the other benefits you have enjoyed from the privledge of being born within the confines of the USA .
If you check the full US budget and troll the numbers personel income tax is about 1/8 of the money spent.
The rest comes from company taxes , royalties. fines borrowings
Now if the borrowings are from the reserve bank then they are BS as they are just numbers generated on a computer then shuffled back & forth to become real money in the form of pay checks . Borrowings in the form of bonds that are purchased by outsiders are real and will have to be paid back in some format some time.
Right now China has 1/2 of all of the USA government debt and if they called that debt in the the dollar would drop 60% and everything you consume that was not 100% US made would go up 2 to 3 times it's price and the country would slide into a third world inflation spiral . Keep that in the back of your head when the headlines are full of "defiant US ships / aircraft pass through China's proclaimed territory" , stories to keep the flag waving fools amused .
IF you really had to pay for everything without any governemnt assistance then your life ( and mine ) would be vastly different .
Right now they are proposing a mileage tax to replace fuel excise to cover the cost of road construction & repair .
To the people who work in an office that is walking distance from home it is very fair, to you the truck driver, even 1¢/mile would be crippeling particularly when Walmart. Amazon. Lowes Etc etc etc would tellyou that they were not going to pay & you will have to adsorb the extra cost .
As for rags to riches stories, look really close at them
In most cases there was a "mentor" behind the person and the "mentor" usually pocketed a goodly sized lump of the riches .
The whole idea that what you are overcomes who you are iis total BS that gets hyped up in the media in order to sublimate the opressed masses who get nowhere because they were born into poverty .
I took a business from 0 using nothing but my $ 400 credit limit bank card to a $ 5,000,000 /pa business but even at our height I could not get a $ 1,000 loan .
Prior to that I worked as a Lisenced Commercial Agent , commonly called a Process Server delivering Warrants Summons & Sepenas .
I saw the vast amounts of money banks & finance companies threw at the children, cousins, nieces & nephews of A list families to fund schemes that were obviously a fraud from day one.
But because of who they were related to the banks ended up taking 0,01¢ in the dollar for multi million dollar frauds and not even a whisper in the media about it .
Let me just put it this way. If OUR government were to raise taxes on everything, if They could even double the taxes, THE ONLY thing that would happen would be the prices for everything would go up. AND the government would just spend the money on more BS stuff like gender studies in Pakistan.
With the increases in taxes, they could pay for gender studies in Afghanistan, Iraq, Iran. They could build walls and fences for all the middle eastern countries, instead of just the one (so far)
The morons in DC buy $150 hammers, instead of $20 ones.
They've got this stupid infrastructure bill they're trying to pass that's got more pork than the US and China combined. If they were to take a drive somewhere, in ANY direction, they couldn't go 20 miles without running into road construction. Which means, our infrastructure isn't falling apart like they claim. They're just making up a reason to spend more money on BS stuff.
About the Fed:
The government knows it can't pay the fed back. The Fed knows the government can't pay them back. So why do they keep loaning them money? Because if they didn't, the government would do the constitutional thing and start creating it's own money. And the government would find some way to shut the fed down, so that their currency is no longer worth anything. Sort of like a confederate dollar. (which would actually be worth more)
So, if you have a debt that you don't actually have to pay back, then is it a debt at all? Of course it's not. And if it's not really a debt, if the Fed can just create money out of thin air (punching digits on a computer), then how much is it worth?
Answer: Like everything else, it's worth what they say it's worth and/or what people will give you or do for it. That's it. A reputation. (backed by a military that could destroy the entire world, 10 X over.
The USD is the world standard, since almost all oil is traded in USD. So we have the world by the balls, as long as the Fed and the government doesn't do anything stupid.
If the US economy crashes, so does most of the world.
