I am torn on this issue. I agree there are people taking advantage of the system. In Memphis, TN near we're I grew up, there were several ghetto moms where I grew up who would have kids just to get extra welfare money so they don't have to work.
That said, to cut Social Security or welfare programs would be very dangerous and wrong. They tell us we have to cut these programs for the poorest of us but the hand outs for the super rich continue uninterrupted. The Fed is buying $40 billion worth of bad investments from the big banks at inflated prices. Wouldn't you like it if you made a bad bet and the government said they would refund all the original money you put in. On top of that, these banks can borrow money near 0% from the Fed then turn around and loan it back to them near 2%. The reasoning for letting them borrow at that rate is so the will loan money to us but they remove any incentive to do so. Not to mention for every dollar that they get in deposit, they loan out $10. So you go to borrow $150,000 for you house, they use $1500 from your bank account to create the loan from which they then collect interest. On top of that, you work for 5 years paying on that loan but when you loose your job they take your house and equity even though they money they loaned you never existed until they loaned it to you.
One other thing, the Federal Reserve states on its website that it has shareholders that are considered the member banks. Not only are we not allowed to know who these member banks are, each one takes a 6% dividend from any money the Fed takes in. So the Treasury creates bonds, then the Fed buys the bonds by creating the money with a computer entry, then the US Government collects taxes to give to the Fed who distributes the profits among the member banks, and then the Fed gives the pittance that's left back to the government to proclaim that they give back their profit. This is the biggest scam in history and we are worried about the comparably small amounts given out in food stamps. We pay these people our hard earned taxes for the privilege of being able to create our currency, one of the most awesome powers on this planet. Not only that, but since every dollar they loan us has interest attached to it, the amount of debt we owe them will always be greater than the amount of dollars in circulation. With this system, our debt will always grow and never decrease.
All that aside, should we cut programs like foreign aid first and use American taxes to care for Americans? Getting militarily involved in conflicts that don't threaten this country uses up resources that are needed to care for our people and to repair our crumbling infrastructure.
Sorry for the rant, it just upsets me that politicians that are so eager to spend cash for big business and over seas seem to dry up when it comes to regular Americans. The amount for food stamps compared to the money used to help the banks it is inconceivable. They talk about cutting social security when if they had used the money for its intended purpose their would be a huge surplus especially considering compounded interest. Instead, they get a court to rule it is just a normal tax and they can use SS money for whatever they want. They steal the money out of the trust fund and then tell us their is not enough to support the pay outs so we have to cut back. All in all, trillions of dollars is missing from social security if you include compounded interest. The whole thing is a scam.
That said, to cut Social Security or welfare programs would be very dangerous and wrong. They tell us we have to cut these programs for the poorest of us but the hand outs for the super rich continue uninterrupted. The Fed is buying $40 billion worth of bad investments from the big banks at inflated prices. Wouldn't you like it if you made a bad bet and the government said they would refund all the original money you put in. On top of that, these banks can borrow money near 0% from the Fed then turn around and loan it back to them near 2%. The reasoning for letting them borrow at that rate is so the will loan money to us but they remove any incentive to do so. Not to mention for every dollar that they get in deposit, they loan out $10. So you go to borrow $150,000 for you house, they use $1500 from your bank account to create the loan from which they then collect interest. On top of that, you work for 5 years paying on that loan but when you loose your job they take your house and equity even though they money they loaned you never existed until they loaned it to you.
One other thing, the Federal Reserve states on its website that it has shareholders that are considered the member banks. Not only are we not allowed to know who these member banks are, each one takes a 6% dividend from any money the Fed takes in. So the Treasury creates bonds, then the Fed buys the bonds by creating the money with a computer entry, then the US Government collects taxes to give to the Fed who distributes the profits among the member banks, and then the Fed gives the pittance that's left back to the government to proclaim that they give back their profit. This is the biggest scam in history and we are worried about the comparably small amounts given out in food stamps. We pay these people our hard earned taxes for the privilege of being able to create our currency, one of the most awesome powers on this planet. Not only that, but since every dollar they loan us has interest attached to it, the amount of debt we owe them will always be greater than the amount of dollars in circulation. With this system, our debt will always grow and never decrease.
All that aside, should we cut programs like foreign aid first and use American taxes to care for Americans? Getting militarily involved in conflicts that don't threaten this country uses up resources that are needed to care for our people and to repair our crumbling infrastructure.
Sorry for the rant, it just upsets me that politicians that are so eager to spend cash for big business and over seas seem to dry up when it comes to regular Americans. The amount for food stamps compared to the money used to help the banks it is inconceivable. They talk about cutting social security when if they had used the money for its intended purpose their would be a huge surplus especially considering compounded interest. Instead, they get a court to rule it is just a normal tax and they can use SS money for whatever they want. They steal the money out of the trust fund and then tell us their is not enough to support the pay outs so we have to cut back. All in all, trillions of dollars is missing from social security if you include compounded interest. The whole thing is a scam.
