Why is it that the Federal Reserve and the U.S. banking system are not federally owned and run? Wouldn%26#039;t it make far more sense to make it so that the interest rate people pay on borrowing money etc. is actually tax money, which tax money(interest paid) is reinvested back into the system? In this sense, there is no interest because you and everyone else benefits from the money invested.
I would think a flat tax with the banking system completely federally owned and run would make Universal Health Care easy for the nation to afford. Also, this new banking system retrofit helps the country as a whole while helping individual Americans. We are a nation of debt, so why not be indebt to each other instead of corporate entities?
Wouldn%26#039;t this be like killing two birds with one stone?
What are the pros and cons?
The Federal Reserve, banking system, and Universal Health Care?rate my teacher
I%26#039;m not a Ron Paul supporter, but I am in favor of abolishing the Federal Reserve. The Federal Reserve purposely keeps MILLIONS of Americans out of work because these so-called %26quot;expert%26quot; economists can%26#039;t figure out a way to stem off inflation. As a result of those millions (4.5% of 300,000,000 equals 13,500,000) of Americans being out of work, there is DOWNWARD pressure on wages and benefits. Whereas if every American had a job, there would be UPWARD pressure on wages and benefits. Clearly, having the Federal Reserve in place works in favor or Big Business and against the best interests of the vast majority of Americans.
A %26quot;Flat Tax%26quot; is a BAD idea. A Flat Tax would have much more severe effects on the poor and middle class than it would on the wealthiest Americans. A Flat Tax is basically a Consumption tax that would have to be set at around 25% to make up for the loss government revenue. That 25% would be charged on EVERYTHING you buy from cars, houses, etc. AND you%26#039;d even pay on the interest on Credit cards, your mortgage, etc. If for example you bought a $400.00 TV, it would cost you $500.00 For someone wealthy, that extra $100.00 isn%26#039;t much, but to a poor or middle class family it%26#039;s a lot of money. According to a 1995 CTJ (citizens for tax justice) report:
Family income: $25,000. Under current law, a family of four earning $25,000 pays essentially nothing in combined personal and corporate income taxes. Taxes that would otherwise be due are offset by the earned income tax credit, which Armey would repeal. Under the Armey plan, with its proposed exemptions but with a 22.6 percent break-even tax rate, such a family would typically pay $810 in taxes on its $3,600 in fringe benefits and $1,540 as its share of the business tax. Thus, its tax bill under the Armey flat tax would increase by about $2,400. Under the alternative scenario, with a 17 percent tax rate but lower exemptions, this family%26#039;s tax bill would increase by almost $3,700.
Family income: $45,000. This family would currently owe about $3,800. Under the Armey plan, its taxes would increase by $1,740 to $4,200 a year, depending on the version.
Family income: $85,000. Current personal and corporate income taxes on this family would typically amount to $11,140. Under the Armey plan, wage taxes alone would be $10,400 to $11,650. When taxes on fringe benefits and the business tax are added in, this family would owe $4,600 or more a year in additional taxes.
Family income: $500,000. Under current law, this family would pay $154,000 in combined personal and corporate income taxes. Under the Armey plan, the family%26#039;s tax would be slashed by half or more for a tax cut of between $78,000 and $93,000 annually.
!The message for anyone who cares about the future of economic justice in America couldn%26#039;t be any clearer: Get ready to fight the flat tax flat out! %26quot;
Finally, Universal Health Care could easily be paid for by ending Corporate Welfare, and by changing Medicaid and Medicare over to a UHC system that provides coverage for ALL Americans. Our current system is BROKEN. HR 676 is the FIX!
Check out some of the tremendous benefits that NHI will bring and see what you think:
Every citizen of the US will be covered from birth to death.
No more pre-existing conditions to be excluded from coverage.
No more expensive deductibles or co-pays.
All prescription medications will be covered.
All dental and eye care will be included.
Mental health and substance abuse care will be fully covered.
Long term and nursing home services will be included.
You will always choose your own doctors and hospitals.
Costs of coverage will be assessed on a sliding scale basis.
Tremendously simplified system of medical administration
Total portability 鈥?your coverage not tied to any job or location.
Existing Medicare benefits for those over 65 will remain the same or be vastly improved in many cases.
And Doctors are GUARANTEED payment!
Employers, such as those in the auto industry complain that much of their loss is due to the rising cost of health care in the US. HR 676 takes the burden off of the employers and allows EMPLOYEES the freedom to look for better job opportunities without fear of losing their benefits.
The Federal Reserve, banking system, and Universal Health Care?
loan
Welcome to %26quot;The Fed%26quot; 101. It was established to bring us to our knees in the first place. I would suggest you watch Aaron Russo%26#039;s, America: Freedom to Fascism avail. here---%26gt;
http://blog.360.yahoo.com/blog-1QjXIHIwe...
%26quot;I am a most unhappy man. I have unwittingly ruined my country.
A great industrial nation is controlled by its system of credit.
Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men.
We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.%26quot;
%26quot;If there are men in this country big enough to own the government of the United States, they are going to own it.%26quot;
Woodrow Wilson after the passage of the Fed Reserve Act of 1913|||Yes. Cookies, anyone is completely correct. America became a Fascist state in 1913, Americans just don%26#039;t realize it. To liberate ourselves from the financial institutions which run our Country (the Federal Reserve) should be a priority.|||First, Universal Health Care does not work anywhere it is tried. It is going bankrupt everywhere and provides slow, rationed care. IF we allowed the free market to work in the US we%26#039;d get accessible, affordable, quality care as we do when the third-party payers and government hacks are held at bay (see cost of LASIK, plastic surgery, programs like SimpleCare, and more).
Letting the feds control the money and banking would be even worse than what we have now and is the antithesis of the system our Founders devised. Interesting they were able to DEVELOP and run a country from NOTHING, that was under attack from within and without, with NO federal income tax for over a century (OK a couple of times they had a brief tax, but the death knell didn%26#039;t start until 1913). By having a Constitutionally-sized government instead of %26quot;EntitlementLand%26quot; they were able to accomplish great things.
As Thomas Jefferson warned us, but we would not listen:
%26quot;The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.%26quot;
We should be unique in the world and go back to the gold standard. We would see a massive influx of investment from within and abroad if our money actually had value instead of being the bogus %26quot;fiat currency%26quot; that every backwater country has endured for decades.|||Many good answers on this issue and I will add some nuggets.--The Fed has never been audited despite bills in congress to do so----Ron Paul and Harry Reid both have signed on at diffferent times to have the Fed audited.-----About 22 plus or minus states have passed resolutions to abolish the Fed.
The greatest ill of our monetary system is that it is based on credit------if all the debt both public and private was paid off there would be no FRN%26#039;s in circulation----I heard Alan Greenspan say that even if it could happen, it would not be prudent to pay off our national debt.
Congress, in my opinion, delegated its authority without any authority for a third party to manage our monetary system----I believe violates the duties of Congress set out in the Constitution----Last but not least try if you can to establish---What is a Constitutional Dollar?---and do we have any?
