Video: Explains why Calif., USA going bankrupt

Video: Explains why Calif., USA going bankrupt

Aug. 7, 2012

By John Seiler

This short video explains why the California government and the U.S. government are going broke. Tax-takers now outnumber taxpayers. When are the taxpayer-slaves going to revolt and break their chains of bondage?

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  1. Rex The Wonder Dog!
    Rex The Wonder Dog! 7 August, 2012, 10:46

    I like the video, but the $1 in taxes brings back $10 in benefits??? Please cite teh source. BS.

    Reply this comment
  2. Steve Ly
    Steve Ly 7 August, 2012, 11:16

    And the hits keep on coming. Santa Clara County supervisors just voted to put *ANOTHER* sales tax increase on the November ballot, and the City of San Jose is expected to do the same this afternoon. Bend over, here it comes again.

    Reply this comment
  3. Bill Hough
    Bill Hough 7 August, 2012, 13:29

    Here is Walter Russell Mead’s take on this:

    “California is in a hole but can’t seem to stop its compulsive digging. Schools, universities, prisons, pensions, cities and towns: the state has lost the ability to manage even the most basic elements of communal living. But foie gras is now illegal there, grandiose plans for white elephant fast trains built with borrowed money waft through the air, and the state continues to boost the self esteem of affluent and cause-oriented gentry liberals by scattering scarce resources to the four winds, hunting unicorns when the cupboard is bare.”
    http://blogs.the-american-interest.com/wrm/2012/08/07/california-blue-twilight-on-the-pacific/

    Reply this comment
  4. Dyspeptic
    Dyspeptic 7 August, 2012, 14:19

    Yes, we are a nation of deadbeats, parasites and takers. Our current desperate binge of welfare/warfare spending isn’t even funded by “honest” tax increases, since that would cause a political firestorm. It’s mostly borrowed from our Central Bank. The Federal Reserve System now buys about 70% of U.S. Treasury bonds because private and sovereign investor demand is so weak.

    So the U.S. Government is using a government chartered banking cartel to fund it’s perpetual debt/tax slavery machine and forcing the shrinking pool of taxpayers to bail out the banking cartel and pay the onerous taxes. Talk about the greatest scam on earth. Federal Government deficits are a perpetual Ponzi scheme that will never be repaid. Ever! Woohoo, free money right? We only owe it to ourselves, right? Wrong.

    Think the Republicans are the answer? Wrong again. Both Bushes and Ronald Reagan ran up big deficits, increased government dependency and grew the size of government substantially. Unfortunately both establishment parties are Big Government political machines. For those of you who prefer to see Obamney beat Obushma this November, be careful what you wish for. This country is in such a profoundly bankrupt condition (morally and fiscally) that things will only get worse regardless of whether Tweedledumb or Tweedledee gets to run the show. Romney won’t be able to fix things, but he will be the Big Media fall guy when things get even worse. Don’t say I didn’t tell you so.

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  5. Rex The Wonder Dog!
    Rex The Wonder Dog! 7 August, 2012, 17:26

    I disagree with you Dy’s, we are not a nation of deadbeats. We are a nation of diminishing manufacturing jobs, which is the base and backbone of this country, and of wealth creation. We allowed our leaders to ship those jobs offshore, and that was the biggest mistake this country ever made.

    The fact is the only jobs being created today are low/minimum wage, no benefit service sector jobs. The few manufacturing jobs our country has left are being ruined and run out of town due to idiot gov officials-the Light company profiled here numerous times is a perfect example.
    We need to stop shooting ourself in the foot bu making bad economic decisions tha take decades to show up. The offshoring of jobs has been going on for 3 decades and is only now proving we made a huge mistake

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  6. Barb
    Barb 8 August, 2012, 08:49

    Speaking of “Home of the Enslaved”, (for taxes that is) this story decries how a local CA government (Poway School district near San Diego, CA)continue down the path of financial destruction.

    http://www.foxbusiness.com/investing/2012/08/08/california-school-districts-spend-1-billion-to-borrow-100-million/

    Unbelievable!

    Reply this comment
  7. eatingdogfood
    eatingdogfood 8 August, 2012, 17:45

    There is No Going Back, now !!! This thing has gone on for Far Too Long !!! The Chinese are going to be Calling The Shots after BANKRUPTCY !!!

    Reply this comment
  8. NTHEOC
    NTHEOC 9 August, 2012, 16:31

    I know the truth hurts but if you have a few minutes please watch this video of the real issues!!!!
    http://youtu.be/8Y-u0UnKZ_U

    Reply this comment
  9. Donkey
    Donkey 10 August, 2012, 06:53

    Ntheoc, of course the RAGWUS has nothing to do with what is going on with the nations economy. It is all the fault of the private sector money handlers! Your excessive pay, benefits, perks, and pensions are not even a factor, right!

    Your words are proof that the RAGWUS members live in an insulated bubble of myth my friend. 🙂

    Reply this comment

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