Sunday, January 02, 2011

Uncle Sam, a looter. Letter to editor from Plum's Mark C.

This LTE in the Pittsburgh Post-Gazette (1/1/2011) is based on a PG article about inheritances. Point being that the more in debt with obligations government gets, the more desperate too. pg/11001/ 1114740-432. stm

Saturday, January 01, 2011

Uncle Sam a looter?

Boomers beware! You're more in line to be looted ("Boomers In Line for Big Pot of Loot," Dec. 19) than to see your full $6 trillion inheritance pot.

Counting Social Security, Medicare and state and municipal debt, total government debt is more than $100 trillion.

Horrendous government spending and debt levels will soon require more than printed paper. The government is desperately looking for large pools and streams of wealth.

Yelling "tax the rich" is just a divide-and-conquer strategy because the rich aren't rich enough. The boomer's $6 trillion inheritance pool will eventually join the $3.6 trillion retirement pool, the annual $2.2 trillion health-care stream and the energy revenue stream in the government's cross hairs.

Even total confiscation won't reduce the problem. That's because they'll only spend it on the next Taj Mahal school building, the next stadium, the next tunnel money pit, the next government pension, the next bailout, the next November bribe or the next undeclared war.

That's why individuals should inherit wealth, not governments.

Sent on the Sprint® Now Network from my BlackBerry®

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