How we're being ROBBED & what we can do about it.

 

Home Forums The Automatic Earth Forum Open Comments How we're being ROBBED & what we can do about it.

This topic contains 1 reply, has 1 voice, and was last updated by  gurusid 6 years, 4 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #7323

    Evan
    Member

    Why will taxes always rise? Why is there never enough money for social programs?

    Using Canada as an example, until 1975 all levels of government in Canada could borrow from the Bank of Canada at 0% interest rate. During this time Canadians had no trouble building infrastructure and funding social programs.

    In 1975, governments in Canada decided to change this and started borrowing from private interests at much higher interest rates. Due to compound interest, the federal and provincial debts combined are now over $1.1 trillion, which costs Canadians over $170 million in interest charges per day! Today, there is never enough money for education, health care, etc.

    This short documentary shows why and how we must rectify this problem [video]https://vimeo.com/59553126[/video].

    Any ideas about how to attract the mainstream media to this fraud?

    #7325

    gurusid
    Participant

    Hi Evan,

    Interesting. You might also like Joseph Tainter:
    https://www.youtube.com/watch?v=ddmQhIiVM48

    Why will taxes always rise? Why is there never enough money for social programs?

    One of the big things that occurred in the 1970s when debt really took off was per capita energy use reached a peak in 1977. Also the removal of the US dollar from the gold standard in 1971 has created a truly ‘fiat” currency. Further as the limits to capital(ism) and over production became apparent coupled with the oil crisis, debt and borrowing were seen as ways to continue the myth of eternal economic growth. Its aim was to continue the industrial and technological development. It sounds hard to believe but people genuinely thought that taking out huge loans for such things as infrastructure development (building roads and highways) would work. They had seen how a similar approach, called the Marshal plan had worked in Europe after the WWII. They just did not figure out how compound interest works and the nefarious forces that sought to enslave whole countries to gain access to their resources. Al Bartlett gives a good talk on how the exponential function works:
    https://www.youtube.com/watch?v=F-QA2rkpBSY

    As for local currencies, such as LETS (Local Exchange and Trading Systems) why not give them a go? Just don’t expect to be able to pay your taxes in them, as Derrick Jenson points out, the men with guns will come looking for you. :dry:

    There’s plenty on this site to dig into if you haven’t already, have fun enlightening yourself. :cheer:

    L,
    Sid.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

Sorry, the comment form is closed at this time.