A simple solution to the Debt Crisis

[thriftyandboringinohio]

This idea was making the rounds at political sites the past day or so, nicely summarized and embellished at unfogged.com
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http://www.unfogged.com/archives/wee...24.html#011472


Damn Dirty Apes
POSTED BY LIZARDBREATH
ON 07.28.11
The current debt ceiling crisis can, it seems be resolved if Obama orders Treasury to mint platinum coins in an amount sufficient to cover our operating needs, and deposit them in our account at the Fed. The government would then have money on hand to pay its obligations without further borrowing, and the debt ceiling would be an irrelevancy. (Silly though this sounds, it's a real, albeit unintentional, possibility. There's a law prohibiting the printing of paper money in amounts in excess of $300M, but we are (accidentally -- I'm certain that this sort of thing wasn't Congress's intent) permitted to coin as much platinum as we like, in denominations unrelated to the value of the metal in the coins. So a two-trillion dollar platinum coin would be real money, really increasing the US government's assets by that sum of money.)

Jack Balkin suggested putting Reagan on the coin, in a delicate tribute to the man who put the Republican party on their current path, and Katherine and JP Stormcrow came up with a suggested design, including a tribute to one of Reagan's oldest friends and political allies, and to the accomplishments of the Republican Party in the current crisis. What do you think?

[thriftyandboringinohio]

Re: A simple solution to the Debt Crisis

For those of you not fans of old science fiction, or too young, you may not appreciate the jab at actor Charlton Heston, long time Republican stalwart, friend of President Reagan, and spokesman for the National Rifle Association. Here's the final scene from the original Planet of the Apes film.

[lektrode]

Re: A simple solution to the Debt Crisis

This idea was making the rounds at political sites the past day or so, nicely summarized and embellished at unfogged.com
----------

http://www.unfogged.com/archives/wee...24.html#011472


Damn Dirty Apes
POSTED BY LIZARDBREATH
ON 07.28.11
The current debt ceiling crisis can, it seems be resolved if Obama orders Treasury to mint platinum coins in an amount sufficient to cover our operating needs, and deposit them in our account at the Fed. The government would then have money on hand to pay its obligations without further borrowing, and the debt ceiling would be an irrelevancy. (Silly though this sounds, it's a real, albeit unintentional, possibility. There's a law prohibiting the printing of paper money in amounts in excess of $300M, ....

uh huh... and i got this one in my inbox this morning:

1. After many years, I have come to the conclusion that one useless man is a shame, two are a law firm and three or more are a legislature. (John Adams)

2. If you don't read the newspaper you are uninformed; if you do read the newspaper you are misinformed. (Mark Twain)

3. I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. (Winston Churchill)

4. A government which robs Peter to pay Paul can always depend on the support of Paul. (George Bernard Shaw)

5. A liberal is someone who feels a great debt to his fellow man, which debt he proposes to pay with your money.

6. Democracy must be something more than two wolves and a sheep voting on what to have for dinner. (James Bovard, Civil Libertarian)

7. Foreign aid might be defined as a transfer of money from poor people in rich countries to rich people in poor countries. (Douglas Casey, Georgetown University)

8. Giving money and power to politicians is like giving whiskey and car keys to teenage boys. (P. J. O'Rourke, Civil Libertarian)

9. Government's view of the economy could be summed up in a few short phrases. If it moves, tax it. If it keeps moving, regulate it and if it stops moving, subsidize it. (Ronald Reagan, in 1986)

10. I don't make jokes. I just watch the government and report the facts. (Will Rogers)

11. No man's life, liberty or property is safe while Congress is in session. (Mark Twain, in 1866)

12. If you think health care is expensive now wait until you see what it costs when it's free! (P. J. O'Rourke)

13. There is no distinctly native criminal group in America other than our politicians. (Mark Twain)

14. The inherent vice of capitalism is an unequal sharing of the blessings. The inherent blessing of socialism is an equal sharing of the misery. (Winston Churchill)

15. The only difference between a tax man and a taxidermist is that the taxidermist leaves the skin. (Mark Twain)

16. What this country needs is more unemployed politicians. (Edward Langley, Artist, 1928-1995)

17. A government big enough to give you everything you want ... is strong enough to take everything you have. (Thomas Jefferson)

[LorenS]

Re: A simple solution to the Debt Crisis

"Deficits don't matter." Would be a better slogan for the coin.

[lektrode]

Re: A simple solution to the Debt Crisis

For those of you not fans of old science fiction, or too young, you may not appreciate the jab at actor Charlton Heston, long time Republican stalwart, friend of President Reagan, and spokesman for the National Rifle Association. Here's the final scene from the original Planet of the Apes film.

yes - GREAT scene that was - one of charlies best, sides a bunch on the 10 commandmants

i also got this one in my inbox today:

Just in case some of US young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it. Be sure and show it to your family and friends. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts.
Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anywayand the essage, NOT FOR IDENTIFICATION, was removed.

Franklin Roosevelt, a Democrat, introduced the Social
Security (FICA) Program. He promised:

1.) That participation in the Program would be
Completely voluntary,

No longer Voluntary


2.) That the participants would only have to pay
1% of the first $1,400 of their annual
Incomes into the Program,

Now 7.65%
on the first $106,000.

3.) That the money the participants elected to put
into the Program would be deductible from
their income for tax purposes each year,

No longer tax deductible

4.) That the money the participants put into the
independent 'Trust Fund' rather than into the
general operating fund, and therefore, would
only be used to fund the Social Security
Retirement Program, and no other
Government program, and,

Under Johnson the money was moved to
The General Fund and Spent

5.) That the annuity payments to the retirees would never be taxed as income.

Under Clinton & Gore
Up to 85% of your Social Security can be Taxed

Since many of us have paid into FICA for years and are
now receiving a Social Security check every month --
and then finding that we are getting taxed on 85% of
the money we paid to the Federal government to
'put away' -- you may be interested in the following:

------------ --------- --------- --------- --------- --------- ----

Q: Which Political Party took Social Security from the
independent 'Trust Fund' and put it into the
general fund so that Congress could spend it?

A: It was Lyndon Johnson and the democratically
controlled House and Senate.

------------ --------- --------- --------- --------- --------- --------- --

Q: Which Political Party eliminated the income tax
deduction for Social Security (FICA) withholding?

A: The Democratic Party.

------------ --------- --------- --------- --------- --------- --------- -----

Q: Which Political Party started taxing Social
Security annuities?

A: The Democratic Party, with Al Gore casting the
'tie-breaking' deciding vote as President of the
Senate, while he was Vice President of the US

------------ --------- --------- --------- --------- --------- --------- -

Q: Which Political Party decided to start
giving annuity payments to immigrants?

AND MY FAVORITE:

A: That's right!

Jimmy Carter and the Democratic Party.



Immigrants moved into this country, and at age 65,
began to receive Social Security payments! The
Democratic Party gave these payments to them,
even though they never paid a dime into it!

------------ -- ------------ --------- ----- ------------ --------- ---------

Then, after violating the original contract (FICA),
the Democrats turn around and tell you that the Republicans want to take your Social Security away!

[LorenS]

Re: A simple solution to the Debt Crisis

i also got this one in my inbox today:

Just in case some of US young whippersnappers (& some older ones) didn't know this. It's easy to check out, if you don't believe it. Be sure and show it to your family and friends. They need a little history lesson on what's what and it doesn't matter whether you are Democrat or Republican. Facts are Facts.
Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anywayand the essage, NOT FOR IDENTIFICATION, was removed.

http://www.snopes.com/politics/socia...ty/changes.asp

[thriftyandboringinohio]

Re: A simple solution to the Debt Crisis

http://www.snopes.com/politics/socia...ty/changes.asp

Thanks, LorenS.

[thriftyandboringinohio]

Re: A simple solution to the Debt Crisis

yes - GREAT scene that was - one of charlies best, sides a bunch on the 10 commandmants
... Facts are Facts.
Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes. Since nearly everyone in the United States now has a number, it became convenient to use it anywayand the essage, NOT FOR IDENTIFICATION, was removed.

This part is flat true. I just looked at my original card, issued 1958. Right on the front it says "..not for identification" . Looked at my daughters, issued 1989, and no mention of that anywhere.