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[quote=”imxploring”][quote=”sweikert925″][quote=”pixframe”]
Pixframe replied:
Untrue. Corporations issue bonds but they don’t have the power of the printing press, as the Feds do, to create more money to purchase their bonds.[/quote]No, that’s not correct. If by “The Feds” you mean the Federal Reserve, they don’t simply whip up a batch of currency. The purchasers of Treasury bonds pay for them just exactly as they do if they purchase a corpoate bond.
No silly the Department of printing and engraving prints money…. not the Federal Reserve. But me puzzle this… where does the money (be it electronic in nature and magically transferred with the push of a button)come from that the federal reserve uses to purchase bonds and thus “inject” liquidity (M1) into the economy? And while we’re at it how has the money supply been increased (almost doubled) in the last 5 years? Where is the money coming from for QE1, Q2, and so on if dollars are not being “created”.
The FR does not create and market bonds. They control the money supply. Where were all these dollars sitting prior to being used to engage in quantitative easing? Sitting in a shoe box for an emergency perhaps?
I’ll reply to your statements about the Social Security Trust fund after your answer as we’ve already established your misunderstanding as to what is actually in it…. not open market treasury bills as you previously stated, but special issue securities that are issued at face value, redeemable at any time, and unique to the trust fund. Yes my friend…. sounds a lot like an IOU! :-)[/quote]
I have been saying since the QE1,2,3,4 started, that influx of fiat currency will have the opposite effect that it was intended for, devaluation of the USD. When you increase the total number of dollars without the backing of a tangible asset (fiat), then there is no other option than to dilute the power of the USD.
So what we are left with is the “promise” that the USD is good. There will come a time in the near future when then promise is nothing more that what it sounds like, a promise. You can’t cash a promise. I will gladly pay you Tuesday for a hamburger today….
[quote=”imxploring”]Newsflash folks….. The Social Security Trust fund and Uncle Sam are one in the same. And since as we know Uncle Sam is broke so is the “Trust” fund!
People keep throwing out numbers telling us how long the trust fund is secure for and able to continue making it’s promised payments to those that paid in. But keep in mind that’s ONLY if Uncle Sam can make good on the IOUs the fund is full of. Currently, and for the foreseeable future according to the GOA, the fund is taking in less each month than it pays out. So the positive cash flow Uncle Sam enjoyed, borrowed, and spent all these years is now a monthly bill he gets and has to pay to the SSA to make it’s payments. So the next question is where is he getting it….. answer…. he borrows it!
Social security payments have become nothing more than a general monthly debt of Uncle Sam. For those that remember the battle over the debt ceiling a year and a half ago…. the President told us that if the ceiling wasn’t lifted that the government wouldn’t be able to make next month’s Social Security payments. That should clear things up. The Trust fund is nothing but a bunch of debt that was created by the same entity that we now hope pays us back what was borrowed and spent. Your 6.2% and your employers 6.2% was borrowed by the administrator of your retirement account without your knowledge or permission.
If this was your 401k plan and you put in your 8% and your employers matched it and sent it off to Fidelity Investments and they borrowed and spent it and now couldn’t come up with the cash, or wanted to change your payout, you’d be screaming bloodly murder. So how is what Uncle Sam pulled any different?
[/quote]
Bravo!!!!!!! If there was a like button I would have worn it out. Very well thought out and presented in a perfect manner.
[quote=”DavidCMurray”][quote=”kwhite1″]. . .I expect nothing, nada, zip, zero from the government other than the military protection I pay for in taxes.[/quote]
(Can’t let this one alone . . .) So, kw, can we safely assume that in retirement you won’t be driving on the public roads and bridges? You won’t expect the public safety agencies to come put out your house fire, resuscitate you, etc?
If you come to Costa Rica, just how will you accomplish that? Remember, no driving on the public roads. Won’t you need to fly from a publicly-funded airport, guided by governmentally-paid air traffic controllers, comfortably ensconced in a plane safety inspected by governmental regulators? Or will you travel from a publicly funded seaport?
And who do you suppose will have paid to educate the military folk who are protecting you? Who paid for them to learn to read and write?
I could go on . . .
[/quote]David, we have already had this conversation my friend. I have been paying for the roads (in the US mind you), I pay property taxes that pay for the fire department, I pay taxes for the public schools of which I don’t utilize. Shall I go on…..?
Let me be CLEAR…..I do not have a problem paying taxes, I have said many times, it is a necessity, my issue is paying a higher percentage than someone else based on the amount of money one makes. We all use the same roads, we all have access to the fire department, we all have access to the “publicly funded” ports, we all have access to all services that our taxes pay for. Again, why do I pay a higher percentage to use the same road as someone who pays a lower percentage? Should they be pro rated and can only use the roads equal to what they pay? No they should not, the fair way to do it is to pay the same RATE across the board, no the same $ amount, but the same RATE.
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[/list][/size][/size][/size][/i][quote=”sweikert925″][quote=”kwhite1″]You confirmed to me your socialist agenda/beliefs.[/quote]
I don’t believe in socialism. I think capitalism is great. But I, as do almost the rest of the inhabitants of this world, believe that government should do more for its citizens than protect the borders. There isn’t a single government anywhere on earth that doesn’t have some social welfare programs in place. Not one. Doesn’t that tell you something? You benefit from many of them though you seem not to be aware of it. Do you deduct mortgage interest from your income taxes? Deductions for child dependents? Then you are also getting government benefits my friend.[quote=”kwhite1″]And to answer your question, I expect nothing, nada, zip, zero from the government…[/quote]
Who said anything about the government? I was asking ab out all those little perks that businesses give out – reduced movie theater tickets, admission to the zoo, etc. But since you insist on bringing the government into it, you’ll be declining your SS benefits then?
[quote=”kwhite1″]…have worked hard my entire life,[/quote]
As have I. As have almost all of the people who you disparage for taking advantage of government benefits, I might add.[quote=”kwhite1″]…served in the military (did you?,[/quote]
Nope, didn’t feel the call. But as a veteran I presume you are taking advantage of VA benefits? A VA loan maybe? VA healthcare?[quote=”kwhite1″]The reason there is not a good explanation is because there is not one![/quote]
Sure there is – because I think that’s more fair, and almost everyone else seems to agree.[quote=”kwhite1″]Tell you what, why doesn’t everyone give all your money and possessions to the government, let them (the government) decide how to divide them amongst the populace. You first? Would you be willing to do that?[/quote]
Of course not. I don’t gripe about paying my fair share. I vote, I have a say in how that tax bill is apportioned but once the arguments are over I – as a patriotic citizen – pay what I owe, not a dime more and not a dime less. And I don’t whine about it.[/quote]
If you have read my post, I agree that paying taxes is the necessity of the countries inhabitants. My issue is paying more based on your income. Still, again, there has not been a viable rational as to why one person pays a higher percentage of “taxes” or fee’s based on the income one makes. That is an essence of penalizing someone for being more successful. There is no other way to justify it, plan and simple, if you make more you get to pay more for the same service some that makes less pays. You can put as much lip stick on that pig as you want, but it’s still a pig!
As for any VA benefits, I do not part take, I felt it was my duty as a citizen to volunteer for the military. I leave any benefits that I may be entitled to for others to use, if I have the means to make it without any assistance I prefer that route.
Why do you think the government should do more? Is that not creating a society of dependent people? As I have stated many times before here, if you need help, I am the 1st one to extend a hand to help you, until you are able to do for yourself. And as some of the posters here know, I support an orphanage in Belize, those kids cannot go out and get a job, they certainly need a hand, and I am more than happy to give them one.
It’s obvious that we differ on our view point of fairness, but at the end of the day, I feel good about me and you feel good about you. End of story.
[quote=”sweikert925″][quote=”kwhite1″]
Explain how that is fair or right? Just because one person makes more than the other, why should he have to pay more for the same service? I think I know your answer, but humor me anyway.[/quote]Because in this mythical restaurant we all got together and decided (through our elected representatives) how the bills would be apportioned. Some wanted to make everyone pay the same, but more people thought having bills calculated based on ability to pay was more fair. The former group had their chance to set the bills their way but they lost the argument. Fair and square.
So tell me, when you reach the age at which you are eligible for senior discounts on things will you refuse to take advantage of them because it isn’t fair to those who are younger? Just wondering.[/quote]
You confirmed to me your socialist agenda/beliefs.
And to answer your question, I expect nothing, nada, zip, zero from the government other than the military protection I pay for in taxes. I was born poor white trash in a trailer, have worked hard my entire life, served in the military (did you?, if so, hoorah), took risk and started my own business, I live well off of the sweat, blood, sleepless nights, and tears. I still have not heard a good example or reason as to why the guy eating that makes more than the other guy should pay more? The reason there is not a good explanation is because there is not one!
Tell you what, why doesn’t everyone give all your money and possessions to the government, let them (the government) decide how to divide them amongst the populace. You first? Would you be willing to do that? If you do it I’ll do it. I mean ALL money and possessions, including your SS checks, your IRA, any real estate you own, your cars.
[quote=”jmcbuilder”][quote=”kwhite1″][quote=”jmcbuilder”][quote=”sweikert925″][quote=”jmcbuilder”]
Turns out there is a 3.8% tax on the sale of my personal home in the obamanation healthcare bill. That represents over 50k tax on me and I haven’t earned over 50k a year for the last 6 years.[/quote]And one more thing, if a 3.8% tax on the sale of your home amounts to a tax of $50,000 it must mean that your home is worth $1.3 million. Lucky you!![/quote]
This 3.8 percent tax on your home came from News media sources. I hope your correct. My capital gains will exceed $200,000 sounds like a tax for me.
The value of my home is high. This was not luck, but a lifetime of hard work. There wasn’t any programs for me to get in your pocket at the time. Obama has proposed a program to help unqualified individuals home ownership, seems to me that was what started the mess to begin with. Would you like to have my $9600 property tax bill. Home for sale!![/quote]
JMC, I just want to make sure that you pay your fair share my friend, don’t try to weasel out of the taxes you owe!
I think it is glorious that if you have worked harder or just been plan luckier in life, that you should have to pay more. I love the flat tax concept, albeit it needs some fine tuning, if you make $1,000,000 US then you pay $150,000, if you make $100,000, you pay $15,000, and so on.
[/quote]Taxes are fine as long as they are reasonable with everyone and I mean everyone carrying their share of the load. Today my hands hurt from manual labor, this is where my capital gains are coming from not a stock market investment but from the sweat of my brow. I’m looking forward to paying lots of taxes in Costa Rica, maybe they will use the money more wisely.[/quote]
That has been my complaint all along, why should I pay more than my neighbor is did not take the risk of starting HIS own business. The answer lies in “everyone gets a trophy”.
Think about that phrase, everyone gets a trophy. When you played little league or high school ball (back in the day), I spent the 1st 2 seasons playing left bench, why? Because I sucked!! The ones who worked harder got the play time. The ones who did not play as well got less play time, I was forced to work harder and get better if I wanted field time.
When my daughter was 6, I coached the soccer team, I was cautioned by the league because I was too concerned about the score, I was told that we don’t keep score, it just about the experience. At the end of the year, every player got the same sized trophy as the team that crushed everyone. That taught all those kiddos that you really don’t need to try, you’ll get a trophy even if you lose….umm welfare anyone? Ohhh!! American Idol is on!! (plus I learned that I suck as a soccer coach).
[quote=”sweikert925″][quote=”kwhite1″] I just don’t understand how one can be “punished” for being a good steward of their money?[/quote]
Your error is in thinking of paying taxes as a form of punishment. It’s not. It’s the cost of government services that you benefit from, one way or another. You may as well complain that you are being punished for eating at a fancy restaurant because they presented you with a bill after you were done eating.[/quote]Terrible example, but I’ll play along…..same fancy restaurant, 2 people eating, one makes $100,000 a year, one makes $50,000, they order the same thing (cooked to perfection by the way), the bill comes, the one who makes $100,000 has a bill for more $53.00 more than the guy who makes $50,000. Same dinner, same sides, same drink, same service.
Explain how that is fair or right? Just because one person makes more than the other, why should he have to pay more for the same service? I think I know your answer, but humor me anyway.
[quote=”DavidCMurray”]It’s true that Congresspersons pay attention to the subjects of the mail they receive, but they pay no attention to the content. Write a letter about (say) gun control to any Congresspersonn and you’ll get the same content-free reply whether you’re fer it or agin it:
“Congressperson whatshisname shsres your oncerns in the matter of (whatever) and has it high on his or her list of priorities.
“Thank you for writing. You can send your donation to the re-election fund to . . .”
In the run-up to the passage of the Affordable Care Act (fondly called “Obamacare), I wrote to everyone involved trying to get someone to consider what I still think is a much better approach. I had a brief outline I offered to send to anyone who would read it. Not one response.[/quote]
http://news.yahoo.com/medicare-increase-could-ding-middle-class-141951719–politics.html
Here ya go, interesting read, the people that saved and were fiscally responsible get to pay more, just another example of rewarding bad behavior.
I wish I could understand the mindset of the law makers, it would make my life less complicated and my blood pressure would return to normal. I just don’t understand how one can be “punished” for being a good stewart of thier money?
[quote=”jmcbuilder”][quote=”sweikert925″][quote=”jmcbuilder”]
Turns out there is a 3.8% tax on the sale of my personal home in the obamanation healthcare bill. That represents over 50k tax on me and I haven’t earned over 50k a year for the last 6 years.[/quote]And one more thing, if a 3.8% tax on the sale of your home amounts to a tax of $50,000 it must mean that your home is worth $1.3 million. Lucky you!![/quote]
This 3.8 percent tax on your home came from News media sources. I hope your correct. My capital gains will exceed $200,000 sounds like a tax for me.
The value of my home is high. This was not luck, but a lifetime of hard work. There wasn’t any programs for me to get in your pocket at the time. Obama has proposed a program to help unqualified individuals home ownership, seems to me that was what started the mess to begin with. Would you like to have my $9600 property tax bill. Home for sale!![/quote]
JMC, I just want to make sure that you pay your fair share my friend, don’t try to weasel out of the taxes you owe!
I think it is glorious that if you have worked harder or just been plan luckier in life, that you should have to pay more. I love the flat tax concept, albeit it needs some fine tuning, if you make $1,000,000 US then you pay $150,000, if you make $100,000, you pay $15,000, and so on.
[quote=”DavidCMurray”]Here’s my take . . .
The “chained CPI” will be adopted by Congress and approved by the President. Its effect will be much more devastating on seniors than anyone has suggested. And the impact will be felt much sooner than anyone will admit.
The premise behind the chained CPI is that as one thing becomes more expensive, people will opt for less expensive alternatives. So, for instance, if beef becomes prohibitively expensive, people will move to pork, then chicken, then fish and then eggs. Eventually, of course, people will exhaust all the affordable options.
As a result, people in remote areas (think the Lake Arenal area) will be the first to resort to kidnapping young children from local families and fattening them in carefully concealed outdoor pens before butchering in an effort to meet their protein needs. The movement to subsist on human flesh will be led worldwide by well meaning women who follow VictoriaLST’s initiative.
Unlikely? No, you read it on the Internet.
[/quote]David, I knew you would see the big picture, there is hope for you yet. I could not have laid out a better example!
[quote=”sweikert925″]First of all I have to point out that anyone who resorts to silly name-calling (“Obomber”) automatically categorizes himself as rather immature. That was equally true of the people who inssisted on calling the previous occupant of the Oval Office “Shrub”.
Second, the proposal that President Obama is putting forward is a CONCESSION TO REPUBLICANS. The lunatic right wing fringe that has taken over the Republican party I grew up with and used to respect has a new tactic – push for something and then when President Obama accepts that as a compromise then turn around and lambaste him for doing so. That’s the new definition of chutzpah. They have done that repeatedly now.
Third, Social Security simply doesn’t have enough money to pay out all of the promised benefits past (according to most recent estimates) 2033. I suppose for some current beneficiaries an attitude of “Why should I care? I’ll be dead by then” may apply. But for those who are responsible for its survival, it means that something HAS TO BE DONE. Now that is a fact and I know that right wingers have trouble processing facts but there it is.
So what do we do? Well we could simply raise taxes but that means that the current beneficiaries will get the benefit of the taxes that their children and grandchildren will pay in the future.
We could throw some off SS so that others remain untouched – the leaky lifeboat approach I guess you could call it. Obviously an approach that some here are in favor of.
Or we can take a realistic approach and share the pain – increase some taxes (mainly by removing the cap on SS taxes) AND reduce a tiny bit the amount that future beneficiaries get as a cost of living adjustment. (By the way, the SS COLA is based on US cost of living, not the CR cost of living so I assume that most of you getting benefits are already coming out ahead when you get your annual COLA adjustment).
For the record I am 56, plan on retiring at 62 – on SS – and moving to CR then. So while I am not wild about the plan to change the CPI calculation I am not so selfish that I am adopting a “hell no if it affects me” position.[/quote]
The hard truth is that neither you nor I can change the direction it is headed, whether SS is solvent or broke, there is not a single thing that “we” can do to make a difference.
The power lies in the hands of the elected officials, unless every single one of them is replaced and a fresh new attitude is enacted, it really does not matter what we say here, to our friends, to city councils, to state reps, to congressmen, and senators. Nothing will change untl we the people elect people who are willing to change, and that won’t happen. Did I mention american idol is on and what’s the score of the football game? No one is willing to take a stand and if you do you will be squashed like a bug on a windshield. KW out…….
[quote=”puravidatexan”]I can’t believe that there’s someone who wouldn’t want to go huntin’ and fishin’ with kwhite1 (Best Friend For Life):!:
In fact, we just recently we went trolling for Trolls, and we caught a Big-un ! I can’t wait to see the pictures and mischievous grins.[/quote]
I ask myself that everyday,,,who would NOT want to go out with me, I’m a blast!!
[quote=”waggoner41″][quote=”davidd”]Waggoner
question. how does one who never contribute to social security are able to recieve benefits
I know 6 people that are now recieving SS benefits that have never worked on the books.. or worked when they were kids.. that are getting SS benefits
let me be more specific. 2 are on disability of some sort so they are getting SS benefits early.
these range from $800 to $1500 per month in payments
I know these people since I was a kid growing up in NYC..
thanks [/quote]
That is a question that you will have to ask your “friends”.
I would like to know the answer to that myself.
It is incumbent on all of us to report people who you suspect are receiving benefits that they do not deserve.
If you are familiar with them, see if they seem capable of working at any type of employment even if it requres retraining.
Our taxes also pay for the needed retraining and they should be required to do the training on our dime.
My wife had to take SSD because of documented, legitimate health issues but she paid into SS for 40 years while she was able to work.
There was a story about a guy who was drawing California state disability but someone sent the disability department a copy of a video of him doing something he was supposedly incapable of doing. He was terminated from the disability program and required to repay his entire benefit.
It’s up to us.[/quote]
The sad part is that the system has become way to easy to work. I have had employees quit, file for un employment, we have a hearing, I submit a copy of thier resignation, and they still are able to claim un employment against me. The win everytime, I have a 0% win ratio for un employment claims when the person quits…amazing.
I am all for helping people that need it but the system is broken, my wife’s mother has MS, cannot get around without a walker, she was denied disability benefits, but go to any Wal Mart USA and take a poll, 2/3 of the people in there are on disability while shopping and getting around just dandy.
[quote=”jmcbuilder”][quote=”DavidCMurray”][quote=”jmcbuilder”] Let’s say that the US decides to tax the rise in value of your foreign home on a yearly basis. [/quote]
As long as we’re fantasizing, let’s say that the U.S. decides to tax the rise in the value of your domestic (U.S.) home on a yearly basis. So how would living in Costa Rica be any different? And who do you suppose would administer this levy?
And suppose they decided that the depreciation on your car was tax deductible, too.
And suppose they came for our guns, our Bibles, our Torahs and our Korans.
And suppose they round us all up and inter us all (I mean everyone) in the FEMA camps we suppose they’re building (but which no one can find).
And suppose . . .
And suppose . . .
And suppose . . .(ad nauseam).
Of course, no one has proposed any of this, but let’s just let our imaginations run wild (and sound more and more like (you know who)).
[/quote]
Sure, all conjecture. I think it important to evaluate current conditions and make judgements accordingly. The bs about no new taxes on people making less than 250k a year at the time the healthcare bill was being passed. Turns out there is a 3.8% tax on the sale of my personal home in the obamanation healthcare bill. That represents over 50k tax on me and I haven’t earned over 50k a year for the last 6 years. The groundwork is being laid for the taxation of US citizens abroad. Sorry I’m two steps ahead in thinking!![/quote]
Well, amazingly when the new payroll taxes hit the first of the year, only one of my employees questioned it. The rest of the sheeple just went about thier business. It was quite concerning to me that they just accepted it. That was a tax increase and I distinctly remember O saying that he won’t raise taxes one “thin dime” on anyone making less than $250K, then $225K, then $150K.
JMC, you hush up and pay your fair share like a good boy. Someone needs a new obama phone and you get to pay for it.
And yes, they will be tracking your out of country assets, one will need to renouce to get away from it all, but that will cost you one final IRS audit to ensure you are paid in full. And that one will be a nasty one, I have heard they tax you on your household goods (average of the populace), and they go back through every tax return you have ever filed.
[quote=”kwhite1″][quote=”vache”]Haha, what?…are you going to shoot me?
Better yet, instead of sitting on the sidelines I’d prefer just to unsubscribe from this forum and website. It’s become a complete waste of my time. I joined up to read and participate about Costa Rican issues, not amerigun paranoia
Have a nice day and Adios.
[quote=”kwhite1″][quote=”vache”]I’m confused.What type of communities are you talking about? Rural compounds? I appreciate the wikipedia links provided by davidd as I had no idea that homosexuals were all child molesters.
It’s great that this forum brings people together but I just have to ask. What are you and kkkwhite taking out the kids to hunt for after church from the back of a jeep? heh..
[/quote]Vache….if your not sure what you are talking about and about whom, I would suggest you sit on the sidelines until you figure it out. I take exception to your use of “kkkwhite”. That was extrmemly uncalled for and your assumption of me being a racist. Nothing could be further from the truth, you know nothing of me and what I do and beleive in. Kindly STFU.
David, thank you for the backup on that.[/quote][/quote]
Sounds like a great idea to me. Thanks for playing.
I for one gather very valuable information out of these fine folks.[/quote]
Sorry Scott, I ran one off. You can send me the bill.
