Are we this stupid?

[zeezee]

According to a Fox News poll earlier this year, 65 per cent of Americans understand that the government gets its money from taxpayers, but 24 percent think the government has “plenty of its own money without using taxpayer dollars.” :angry: The other 10% have no opinion.
Almost 1/4 of United States citizens believe the US government has “plenty of its own money without using taxpayer dollars.” :nuts:

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[nixuser]

there are a lot of taxes from a lot of places like import and export and others although these are taxpayers also i believe they get too much $$$

 

[dobeman]

how do you explain the huge deficits? clearly the government is spending more than it takes in. That 'extra' money is borrowed in the form of US Treasury issuances. Buyers of treasuries include foreign governments and the US Federal Reserve itself. Its called monetizing the debt. In the end, true, the US taxpayers will get screwed in the form of taxes and hidden inflation tax and devalued savings.

 

[bugeye]

how do you explain the huge deficits? clearly the government is spending more than it takes in. That 'extra' money is borrowed in the form of US Treasury issuances. Buyers of treasuries include foreign governments and the US Federal Reserve itself. Its called monetizing the debt. In the end, tru, the US taxpayers will get screwed in the form of taxes and hidden inflation tax and devalued savings.

Good points but,
I don't think the FED is allowed to directly buy and hold US treasury debt issuances (T-bills, T-note, etc.) they do, however, act as a dealer, and a go between, of these securities. One interesting point on this though is that the FED is gving away money to member banks for nearly no interest and they are buying and holding these US debt securities to make a few % interest on them.

The 'in the end' summary is almost a universal truth, a correlary of 'poop rolls downhill'.

 

[DERGLOCKINMEISTER]

The government can give nothing that it doesn't first take from someone else . Every fee , tax , fine , levy , that they collect is from you or I . It isn't as complicated as they try to make it seem , but if everyone understood , there would have been revolt long ago .

 

[Member 5605]

Link? (Strictly for reposting so it's not "I heard it from.....")

My Google-FU turned up nothing.