Many people don’t watch their money carefully. They use credit cards to manage their finances, a very dangerous method! Like our government they spend without consideration to what is coming in. All government has to do is raise taxes on the people to make up for their wasteful spending. The people have to tighten their belts and reduce spending, something government has never done.
Workers have seen their paychecks shrink because of an increase in the payroll tax. Middle class Americans were told they would be spared tax increases if the rich were punished with an income tax increase. This was false, using class warfare to punish the rich. The workers see their smaller paychecks the fault of their employer, not a voracious government!
The European island nation of Cyprus has found another source for taxing the people since their government has spent itself into insolvency. They are exploring taxing the people’s savings accounts (bank deposits). Money people have already paid taxes on will be re-taxed. Savings people are depending on will be significantly reduce from just over 6 percent to 16 percent. People are asking can this happen in America!
The truth is this is already happening in America! Middle class paychecks, in fact all incomes to the American people, investment, social security, 401Ks, bank accounts and interest has been diminished by the “Quantitative Easing” employed by Ben Bernanke and the Federal Reserve. The printing of more money in mass has devalued every dollar, diminishing the quantity of goods and services one can buy with a dollar. Printing more money has driven prices higher, lessening the value of the money we get, have saved and have invested.
In the last couple of years milk in the store I shop in has gone from $.99 to $1.49. All groceries have escalated at some rate. The bird seed I buy has more than doubled from $7.98 a 20lb. bag to $17.98. In the last couple of years so has bulk corn going from $6.00 a hundred lbs. to $15.00! Corn now used in fuel, lowering our gas mileage and increasing the damage to our engines in cars, motorcycles, lawn mowers, snow blowers, generators, etc.!
The surge in the price of corn is also starving people in third world countries!