If a man earned a monthly income of $7,000 per month and earned an additional $5,000 on investments, his total monthly income would be $12,000. If he had set up a budget based upon his $7,000 monthly salary, he would have a monthly surplus of $5,000.
If he spent
$8,000 in a month he would have a $1,000 deficit. The obvious solution
would be to make up the shortfall by withdrawing $1,000 from his
accumulated assets.
When the
Federal Government establishes their budget based upon their anticipated
income generated from taxes. They do not include the amount of money
they anticipate that they will earn on their invested assets.
The Federal
Government collected 2.5 trillion dollars in taxes but earned another 5
trillion dollars on their invested assets. The total money available to
run the country would be 7.5 trillion dollars. If the government were to
spend 3.8 trillion dollars, we would have a surplus of 3.7 trillion
dollars.
By using
their creative accounting system, Congress claims to have spent 3.8
trillion dollars and only collected 2.5 trillion in taxes. They want us
to believe that "We the People" have a 1.3 trillion dollar deficit.
Rather than tapping the accumulated reserves, Congress wants to raise
our taxes and/or reduce the services provided by the government.
If no taxes
were collected by the Federal Government, they would still be earning
more than enough money to finance the government. Can you imagine what
would happen to our economy if the Income Tax were to be eliminated.
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