As another Lame Cherry exclusive in matter anti matter.
Thomas Paine in Common Sense had a great deal more to say than what a terrorist King George was. He engaged a wide array of topics, including how it was harmful to America to have more money in circulation in racking up massive debt as it robbed everyone by inflating prices.
Does this sound familiar in debt spender Birther Hussein Obama and the image to your wee minds?
Mr. Paine laid out the most simple explanation for the Colonies and the cure, before Alexander Hamilton was at the US Treasury restoring American credit and George Washington was at the Presidency creating peaceful noble leadership.
The quotes by Mr. Paine necessary to read, in if you require a bit of Cherry sheets to figure this out, it is simply the cure was to half the Colonial money supply, and it is exactly what America should engage in as this would double the worth of your money by taking away half that Obama worthless currency.
"Men are daily growing poor by the very means that they take to get rich; for in the same proportion that the prices of all goods on hand are raised, the value of all money laid by is reduced. A simple case will make this clear; let a man have 100 L. in cash, and as many goods on hand as will to-day sell for 20 L.; but not content with the present market price, he raises them to 40 L. and by so doing obliges others, in their own defence, to raise cent. per cent. likewise; in this case it is evident that his hundred pounds laid by, is reduced fifty pounds in value; whereas, had the market lowered cent. per cent., his goods would have sold but for ten, but his hundred pounds would have risen in value to two hundred; because it would then purchase as many goods again, or support his family as long again as before. And, strange as it may seem, he is one hundred and fifty pounds the poorer for raising his goods, to what he would have been had he lowered them; because the forty pounds which his goods sold for, is, by the general raise of the market cent . per cent., rendered of no more value than the ten pounds would be had the market fallen in the same proportion; and, consequently the whole difference of gain or loss is on the difference in value of the hundred pounds laid by, viz. from fifty to two hundred.
But the grievance has now become too general to be remedied by partial methods, and the only effectual cure is to reduce the quantity of money: with half the quantity we should be richer than we are now, because the value of it would be doubled, and consequently our attachment to it increased ; for it is not the number of dollars that a man has, but how far they will go, that makes him either rich or poor. These two points being admitted, viz. that the quantity of money is too great, and that the prices of goods can only be effectually reduced by, reducing the quantity of the money, the next point to be considered is, the method how to reduce it."
- Thomas Paine
With that explained, it is the cure now in halving the money supply, or in reality, America with who knows how many trillion in Obama debt, that this would require an almost 2/3rds reduction in US money supply.
"But the grievance has now become too general to be remedied by partial methods, and the only effectual cure is to reduce the quantity of money: with half the quantity we should be richer than we are now, because the value of it would be doubled, and consequently our attachment to it increased ; for it is not the number of dollars that a man has, but how far they will go, that makes him either rich or poor. These two points being admitted, viz. that the quantity of money is too great, and that the prices of goods can only be effectually reduced by, reducing the quantity of the money, the next point to be considered is, the method how to reduce it."
- Thomas Paine
The question is though how to pay off that massive debt, and Mr. Paine in his interesting fix was to levy a 10 to 20 percent property tax per year, in their being voluntary.
"Congress. Let, at the same time, a tax of ten, fifteen, or twenty per cent. per annum, to be collected quarterly, be levied on all property. These alternatives, by being perfectly voluntary , will take in all sorts of people."
- Thomas Paine
April 19th, 1777
While I have doubts of a voluntary tax, as no conglomerate now pays taxes and the rich have lobbyists to find ways to make deductions while the poor pay, I do see merit in make the voluntary tax not on income generation which impedes people from earning as they are always concerned about tax brackets, and therefore so agree that the income tax should be negated.
Property should be taxed, but I prefer a consumption tax with rebates for the poor, or more to the point, I believe that people should in the modern technology have debit and credit cards which have them listed by income status, meaning that if you are poor, that when you purchased groceries, this would automatically be deducted at the market.
A rich person would pay consumption taxes and in that luxury items which a poor person could not afford would have on them a consumption tax. I will not delve into this here as I have before and other proponents of this have worked this all out in protecting the poor and placing a sales tax on all purchases on the federal level.
I would only make one caveat in this, and that would be that the tax could never amount more than 20% of the product as situations like cigarettes, beer and gasoline have shown what absolute tyranny can be unleashed on the people if a regime is allowed to use tax money as entitlement bribes.
I would also add that incentives should be factored in, in if a person has not taken subsidies, entitlements or used government programs for their lives, they should be rewarded at retirement with a higher Social Security amount like a health care saving's plan would reward people who do not go to the doctor because they are obnoxious and have to pay a doctor to listen to them for 30 minutes a week.
Thomas Paine laid all of this economics out, as much as Benjamin Franklin did in his memoirs concerning money supply and economics. It is not that hard. All that has happened in America is economic rapists figured out that they could buy votes in Congress to get Congress to pay conglomerates money to steer welfare of some kind to those corporations whether it was Wall Street sucking off Welfare Street or it was defense sucking off the Pentagon.
All of this is very simple, and can be remedied just as George Washington and Alexander Hamilton remedied the American economic situation after the American Revolution.
You really need to read the old books with the Holy Spirit guiding you, as the Founders fixed everything and have the solutions there.
nuff said
agtG
