AD: 'How Much Money Can The Government Steal And Waste Until The System Crashes?' - Malcolm Hedges - Nov 1, 08

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'How Much Money Can The Government Steal And Waste Until The System Crashes?'
By Malcolm Hedges (11/01/08)

At some point, the government systems will tax the populace until they are consuming all of the economic output.

Interestingly the Progressives decry business "profits" and job creation when that is pretty much what pays their wages! Duh!

In the current USA, government effectively steals about 50% of the GDP on average. (Some say 20% but that number is very suspect.)

Not satisfied with around 50% of the GDP being consumed by the government, Progressive Democrats want to raise the taxes and go for 60% or more of the GDP.

We already have a recession. . .

I suggest that such a dent in the economic engine will cause it to start to grind to a halt. If the program is not then quickly reversed, a depression will be a reality.

Mush-minded States, Counties and Cities are already on the verge of bankruptcy or insolvent.

If Progressive Socialism truly takes hold, we will have a 10 to 20 year depression (or forever). . .

(Printer friendly version) Email: Malcolm Hedges

Malcolm generally writes with a conservative view.
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