RE: Cryptocurrencies Are Blowing Central Banks Out Of The Water - with Jeff Berwick
The real problem is Federal Tax which goes to a myriad of things but very little towards state by state services when compared to the amount spent on just the interest alone on our current national debt which is at 19,956,444, 999,999 at this exact second and climbing. (U.S. Debt Clock.org). This is national debt alone and does not include a number of other insanely high debts that plague the population and will profit big banks. Between 2009 and 2013 the Federal Reserve which is a private bank earned over 350 Billion Dollars in interest based profits alone making it the most profitable private company in the world for that period as it still is with yearly profits towering over the collected income of Apple, Google, and Amazon combined. The funding from federal income tax that goes towards wars of aggression that do very little to keep Americans safe but instead do a great deal to increase profits for defense contractors, big oil, big business in general, and paying the ever climbing interest on a debt so unbelievably large that it can never be paid.... the percentage of your income that goes to the federal government every year would be better spent on roads and schools, public services, etc. However the part of your income that you pay in federal income tax will not go towards these things in the way that most believe. (State Taxes tend to cover a lot though) It will end up in the hands of a private entity representing other private entities that have nothing to do with you, your families future, or the future and health of the U.S. as a country. If I made you give 10 to 35 percent of your labor to me for free and I profited and you received absolutely no benefit or goods/services in return you would call that partial slavery. If you refused to work for me 10 to 35 percent of the time for free and I locked you in a box where sodomy was served shortly after lunch you would not only be a slave but then the victim of a morally unjustifiable tyrannical dehumanizing act. State by State taxation with a vote put to the public every quarter as to what requires the most attention in regards to education, roads, public services, etc. is rational and reasonable. Forced taxation at the barrel of the gun on behalf of a number of people you have never met and have nothing to do with anything the federal government provides you with in regards to services is not.. The current debt per U.S. taxpayer is $165,928.00 and climbing. You will never pay that and less than 30 percent of it would go towards the services you mentioned in your post. Please research this as I have meant this response in a helpful noncontroversial way. Hope this covers your question.
Glad we're having this conversation...getting my old brain to think about this more. ;-)
Yes, but what are you going to do ? Rip your US passport and migrate to another country ?
Just note to you about income tax.
I worked in Singapore , Income tax there is roughly around 7% annually and its not a third world country :)
Yes. I did something very similar to that as I'm a dual citizen. Granted tax is higher here but the loop holes are larger and easier to make use of if you know where to look. Though the government in the UK has miles of red tape centered around preventing local autonomy we have a fiercely committed community here that has fought and bit back when angry letters, officials, or threats of fines have reared their head. We have managed to win and stop discouragement of us having a say using nothing more than community based grass roots cooperation. This isn't at a huge township level, just our little road. I have also spent years structuring finance and my lifestyle to center around self sustainability from solar power, growing my own food, wild food foraging, arranging barter agreements with my local butcher, green grocer, and restaurants as it can't be taxed by law. Added to which a great deal of time is spent with people in my community committed to looking after themselves participating and structuring ourselves to where we keep our own community watch and checks. Though state education here is mandatory we all spend a great deal of time teaching the kids gardening, fishing, bush craft skills. And not to disclose to much detail in regards to finance but I have taken great pains to structure my income and tax so that I do pay to as little as possible all within legal requirements. All this can be done in the U.S. but the likely hood of an officer or representative of the government showing up armed to poke his nose in is higher. If you irritate that officer there is always a high likely hood of him turning your skull into a birdhouse. Not all law enforcement are bad guys.... but a lot of them can be di**'s. Here in traditional British fashion they just show up and bitch or write angry letters that if contested hotly enough for long enough you can wear them down on and still not break any laws. I'd happily move to another country from here and would actively entertain/plan a move along those lines but I care about the people I live around as we have all become each others extended family over the years. 7%?! That's a jealousy inspiring low amount! Wish it was that low here!
Wow, that is great you were able to create a local community that has become your extended family. It was like that in my grandfather's time. He lived in a small town in Philippines. Everyone was related to each other. They were too poor to pay taxes. Whatever they need they grew themselves and the forests were vast then. So whatever you can't grow you can hunt and gather in the forest.
I think the smaller the community the less need for government. And less government less taxes but people still get what they need. I think that is how Singapore and Hongkong , which I also worked, are able to keep taxes low. A small city state would have less overhead. Less red tape,less bureaucracy and leaders closer to the people in the street. Not away in Washington or London