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To: Graewoulf

“The USA Federal Government is broke, and is forced to borrow 3 1/2 BILLION dollars from our grandchildren EVERY DAY!

This then is the Federal Grandchildren Tax, or FGT, separate from the FIT or Federal Income Tax that only 51 % of us pay.”

I think I understand what you mean by saying we are borrowing from our grandchildren but we are not. Our children and grandchildren are under no obligations to repay the debt we incur (ask Jefferson). Not only are they not obligated to pay it we have not in any normal sense of the word “borrowed” it from them. Some of them are not yet born and most of them do not have the money to “lend”.

What we have actually done is borrowed money from real live people living today and told them that some unborn, unknown, and probably unable or unwilling person will repay them in the future. The only reason anyone lends us money is that the are counting on the US government, by force of arms, to collect their debt.

I would encourage you to make sure your seed knows that they do not have to pay this debt and that they should not pay it. The sooner the world realizes that they will not be repaid the quicker we will be forced to stop borrowing money.

And yeah that idea really stinks for everyone who believes that they have earned and are owed a Social Security check because it is invested in nice safe US Treasuries.


16 posted on 06/22/2012 11:26:56 AM PDT by FreedomNotSafety
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To: FreedomNotSafety
And yeah that idea really stinks for everyone who believes that they have earned and are owed a Social Security check because it is invested in nice safe US Treasuries.

As a recipient of Socialism Security for a number of years now, I encourage everyone of you to take your SS earnings report and generate a simple spreadsheet using the annual US Bond interest rate for every year you have paid into SS - you must make the calculation every year and then carry that balance into the next year to see the compounding effect. You can do it two ways, one with only your own input and a second time using your employers part also (2x your input)

When you see how much your SS next egg should be worth, you will fall off your chair and you will immediately call for a march on the District of Corruption.
AND don't forget you would have this nest egg to leave your children and spouse - not have the payments just stop when you die. I have been trying to get folk to understand how crooked this "insurance" and/or "retirement" scam is but many times when I bring it up people's eye just glaze over. Ignorance in this nation is appalling. WE ALLOWED THIS TO HAPPEN, and we are just about to go over Niagara Falls without a barrel.
17 posted on 06/22/2012 11:45:29 AM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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