"Behind the current mess and shrill rhetoric in DC are these two larger competing visions — the belief that the Obama agenda is the road to serfdom for everyone, and the belief that it will result in a long-overdue equality of result."Indeed. Those of us with more than oatmeal between our ears have recognized that, should Barry somehow retain power, the 47% of the population who don't pay income taxes is going to increase. His theory of government carried to its logical conclusion would end with no one left to generate any sort or amount of wealth. An entirely new financial system would need to be adopted: one in which all citizens are "paid" the same.
One of my progressive friends enlightened me on where the funding would come from to do such a thing. The dialog between me and my Progressive Friend went this way:
Me: "If no one is generating wealth to be taxed, how will the Yankee government have any money to distribute to anyone?"
PF: "The federal government will simply either print the greenbacks or they'll issue checks that represent greenbacks."
Me: "I know that the only thing that would back the Yankee government's checks would be its word that it's actually worth what it says it's worth. But what about the greenbacks? What specie would back them."
PF: "The same as it is now: no specie would back the greenbacks. Like the checks, they'd be worth exactly what the federal government would say they're worth. What's the matter? Don't you know that we're almost there now? At least as far as greenbacks and checks actually being worth anything - at least as far as precious metals go?"
Me: "Yes, I know that and that's why I've been ready for Texas to secede for quite a while now. We'd back our currency with metal and probably just about everyone would be paying some kind of income tax; probably a flat tax."
PF: "Do you really think that Texas could survive on its own?"
Me: "Remember the Alamo?"
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