Barack Obama and the Party of Treason want to change America. They have worked hard to change America by wrecking the economy and destroying the American dream.
As real Americans stand up to fight Obama and the Party of Treason, could Obama have actually ushered in the era of Dave Ramsey economics?
Dave Ramsey is the famous talk show host and financial advisor whose primary advice is to get out of debt and stay out of debt.
The Great Obama Depression has taken the net worth of the average American down by 40% in just his first three years. Who are the people who have suffered the most under the Great Obama Depression?
They are people who were in debt.
They are people who borrowed too much money.
William Shakespeare famously wrote in Hamlet, “Neither a borrower nor a lender be.”
Albert Einstein called compound interest the 8th wonder of the world. Many Americans are learning what a disaster it can be when you are borrowing money. The light is coming on for many Americans who realize that when you get a thirty year mortgage you are paying $500,000 for a $200,000 house, that might not be the best financial move.
Many Americans are realizing that if you buy that new car, not only does it drop 30% in value the moment you drive it off the showroom floor, but if you finance it, you may be paying $75,000 for a $25,000 car.
Lending may be great business for bankers but for most Americans it is not a good deal and the debt created by the policies of the Party of Treason has bankrupted much of America.
We need a recovery but a recovery based on borrowing is simply setting us up for the next fiscal disaster brought on by the Party of Treason.
How do we do this?
Mitt Romney is poised to win this fall. The Obama campaign is faltering badly and with the economy in the Great Obama Depression, it will be hard for him to win. Indeed, even some previously solidly blue states are in play this year.
Romney is coming to Washington; unfortunately he has no serious plans to cut taxes to stimulate the economy.
Here is an idea that could stimulate the economy and help re-launch the American dream. Instead of saving the 5% or 10% needed for a down payment for a mortgage, let’s create home savings accounts. These accounts would be not only tax deductable but totally tax-free. Any person could contribute whatever amount they wanted to into a home savings account. The money cannot only grow tax-free but when it is time to pull the money out, there are no taxes paid on the money period. The only catch is the money must be used for the purchase of a house.
The same thing can be done for cars as well. If we want to stimulate the auto-manufacturing sector of the economy, create car savings accounts with the same rules.
These ideas would allow Americans to get into new homes and cars, without debt, stimulate the economy and provide savings that could be used for investments.
Where is the down side?
We are great supporters of Dave Ramsey. My husband and I were deeply in debt and did all the typical dumb things that got us in debt. I believe that God knew our hearts and lead us to one of Dave Ramsey's books. We are now debt free except for our mortgage and are working on getting that finished in the next year or two. We are grateful that God was merciful to us and allowed us to pay this all off. I wish the government would be in Dave Ramsey mode. This is exactly what needs to happen. Its not too late for America. We have an opportunity in November to do the obvious - get rid of a monumental mistake. But politicians will not be the answer in the end but individuals putting their lives in the hands of their Creator. His laws never change but His grace is unlimited to those who are His.
Amen and amen. Most people don't know this but the framers of this country used the Bible as a blueprint for our laws. Ten Commandments & original legal system. The Bible was meant to be a "Sister" to the Constitution and not this "separation of Church and State" bologna. Think about it...
Having thought about it, I conclude that the founding fathers realized that nothing would be accomplised unlessl and until this issue is disposed of." Shall make no law..." so what's to argue about?
Great idea and
great stroke for conservatism
Economics is one subject very few understand, because a simple action in one place creates another action somewhere else.
Banks are allowed to make loans on a 9 to 1 ratio of deposits.
That is for every 1 dollar they have in deposit, they are allowed to loan 9 dollars.
This in one reason why some banks offer free checking, the profit is made off the 9 dollars they loan for each dollar in your account.
With the amounts that accounts setup for Home/Auto would create, the banks would be able to make substantially more loans at a cheaper rate, especially to small/startup businesses.
Of course as long as the "FED" is controlling the interest rate, the "Free Market", can't.
Shutting down the discount window is an interesting idea. It would limit the Fed's ability to control interest rates and print up money. It would encourage banks to pay savers higher interest rates so they have more money to lend. It would send a message to bankers that they can't rely on the Fed to bail them out, so they would have to be more financially responsible.
A tax is a tax is a tax and even some things that are called other names such as "fee" certainly look like taxes if they are examined in detail. All taxes and "fees" have a few things in common.
Every tax and every fee of every name transfers purchasing power to the government to whom it is paid.
The name that a tax is given is based on how the amount of the tax is calculated.
Every tax that is paid is paid using money that was received as income.
Every tax and every fee, regardless of the way it is calculated and regardless of what it is called is, in effect, an income tax.
The purchase of bonds and other government debt issues, if examined in detail, looks and acts just like a tax or a fee. The difference is that when we purchase bonds that have a thirty year maturity or longer we are obligating our children and grandchildren to pay enough additional taxes and/or fees that they can service and retire the debts that are being incurred by our generation. Our thievery will be the source of pestulance in their lives. They will commemorate our generation of their ancestors by ceremoniously urinating on our graves.
I Listen Him every Afternoon!
Being debt free is a great idea. Having separate tax free accounts for a house or car is just another big government idea.
The government should not be telling us what to save for or how to do it. What's next, a separate account to purchase a boat, a farm, an RV, a wedding?
What happened to individual responsibility and freedom of choice?
The answer remains to cut government spending and not tax returns on investment derived from savings. Over the long term much of it is taxing inflation.
They could eliminate 401K's and modify Roth IRA's for higher contributions and allow the earnings to be used for down payments on homes and cars. 401K's need to be eliminated so contributors can get their money away from the mutual funds. Mutual Funds play a key role in croney capitalism, hurting the stockholders, and the Computer Programs controlled by the Exchanges are programmed to put Retail Investors and Mutual Funds at a competitive disadvantage. People need to be able to get their money away from the crooks on Wall Street and parts of the Mutual Fund industry. The Fed setting interest rates below the targeted inflation rate is just another form of Wall Street Banker theft. There are good mutual funds and places to invest, but if workers have their money trapped in a 401K, their choices may be limited. Brokerage Accounts are a far better option. People shouldn't have to quit their jobs to stop Wall Street insiders from taking their money or diminishing their earnings. If you don't think NASDAQ isn't crooked, look at the flash crash and more recently the facebook IPO. It's not the event itself, but the way it was handled afterwards. NASDAQ saw to it the insiders kept their profits through illegitimate trades. Retail investers could use their own stock exchange outside of New York where Wall Street Bankers and Insiders aren't allowed to trade. They could make the computer programs public, so everyone knows there's no monkey business going on.
Thanks for the heads up fortunateson. Had not heard this yet. But I did hear on Christian radio the other day that the movie chain AMC had been bought up by the Chinese! There seems to be more bad news every day; its hard to keep up with it all. I will defintely boycott General Mills. I try not to frequent Target stores and Starbucks if at all possible. (Ever since Target showed the Salvation Army people the door at Christmas time).
The down side is that you are distorting the economy. It's a one-size-fits-all prescription of the kind that politicians are so fond of dishing out.
That said, anything that reduces the amount of money that the government spends is better than nothing. The more the government employs people to punch keyboards (formerly pushing pencils) and afflict the productive with regulatory molasses, the fewer people we have actually producing things and providing services that people value. In other words, the more the government spends, the less wealth we create. It's as simple as that. The more the government coerces, the poorer we all are. That coercion is measured as the amount of spending that goes into unproductive activities--government spending, that is.
When it comes to improving the economy, lowering government spending is the key. Lowering taxes helps only to the extent that it puts a damper on spending. If the government borrows to make up for the lowered taxes, government spending remains the same, the amount of unproductive work and counterproductive regulation stays the same, and the economy does not improve.
Concentrate on lowering government spending, that's all that counts. Fire those leadweights in government and leave them no choice but to do useful work in the private sector instead and increase the wealth of the society. Stop them from transferring money from the productive to the welfare cheats, and leave the welfare cheats no choice but to do useful work for their living. Concentrate the welfare on only those who need it and deserve the safety net, not on those whose votes are sought.
A society cannot have more than it makes.