I.O.U.S.A

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Based on this move trailer I thought it would shed some light on the Federal Reserve Banking system.  It turns out the film did, but not very well.    The film examines the

1. budget deficits
2. savings deficits
3. trade deficits
4. leadership “deficits”

After examining these issues, and doing a good job at scaring the crap out of people, they have a focus group to discus how to solve the problem.  The only issue they focused on, was Social Security.  Didn’t George Carlin warn us about this?

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In this clip George warns us “They’re coming for your social security next, and they’ll get it too.”

They showed this clip in the movie (minus the text provided by this Youtuber) and then down-plaid it.

They did very little to examine the core problems with the Federal Reserve.  For more information see InflationTax.blogspot.com

I think it’s odd David Walker who’s behind this film has teamed up with the Heritage Foundation.  I’m not a fan.  The Heritage Foundation claims to be a conservative think tank.  I thought the main conservative value was family values.  I claim being able to support your family is a critical family value conservatives are overlooking.  You can’t tell me sending jobs out of the country will create more good paying jobs in the US.  That’s what the Heritage Foundation claims.   That’s like saying sending manufacturing to China will decrease our trade deficit.  What is the Heritage Foundation, corporate propaganda think tank?

I’ve worked extensively with counterparts in India. They work for around $200 a month. Or at least that’s what someone from India told me seven years ago. They are probably up to $300 or $400 now.

This information was presented in the film Orwell Rolls in His Grave:

According to the nonpartisan congressional Budget Office: between 1979 and 1997, income for families in the middle rose 9% from $41,000 to $45,100, while income for families in the top 1% rose from $420,000 to $1,016,000 — a 140% increase.

Why has the response to a rise inequality been a drive to reduce taxes on the rich?

In addition to keeping their currency low, China imposes tariffs against US imports.  Per Lou Dobbs War On The Middle Class China has a 25% tariff in place against US imports like cars, while we have a 3% tariff against them.  We can’t sell exports to China.

Like Ronald Reagan’s quotas against Toyota, China requires a physical factory presence in their country in order to sell goods there.  The Heritage Institute claim that protectionism harms other countries, but it appears to have made China very wealthy.

As I.O.U.S.A points out, China has the largest trade surplus in the world.  They don’t have the debt the U.S. has offsetting their assets either.  The U.S. has the largest trade deficit in the world, and the largest debt.  If this is the case, is our government hiding the fact China is now the richest country in the world?

This film says  the U.S. is approaching a $1 trillion per year trade deficit as Lou Dobbs mentions in War On The Middle Class.  They went on and on about how Clinton balanced the Budget.  Why not bring up Clinton signed NAFTA into law, or that he lowered the tariffs on China.  Clinton Claimed bringing more wealth to their country would bring them freedom, but I don’t call forcing women to have an abortion as late as 9 months pregnancy freedom.  I call it murder.

Unfortunately the American people have been brainwashed by Edward Bernays PR into thinking capitalism brings you democracy.  They are independent of each other.  Just because you have capitalism, it doesn’t mean you have democracy.  You still have to fight to keep it.

This film as well as America Freedom to Fascism both state the American people pay three times what corporations do.   America Freedom to Fascism gives these figures:

In 2005 the illegal tax on your labor collected $927.2

The legal corporate income tax collected $278.3

Most conservatives appear to miss the point of America Freedom to Fascism.  Aaron Russo was NOT saying no one should ever pay taxes.  He was saying Constitutionally the tax burden  should be carried by corporations rather than working class people.

The corporate media owned by companies like GE keep telling you the economy will slow down, if they have to pay taxes.  What it’s going to do is take the tax burden off from working class people, and put it on them where it belongs.  When the government spends money without raising taxes to cover it, they just print money to make up the shortfall or borrow it from another country.  That’s what causes the Inflation Tax.    Maybe the corporate media will care more about government spending, if the corporations actually have to pay for it.

We have companies like Halliburton who moved their headquarters to Debi so they don’t have to pay taxes.  Yet they are still allowed to bid on government contracts.  The more companies pay their executives, the less they have to claim as profile. As Lou Dobbs points out in War On The Middle Class on page 26, Lee Raymond chairman of ExxonMobile made an average of $144,573.00 a day over a period of 13 years. Raymond’s retirement package was $400 million.

Again instead of addressing any of these issues, the primary focus (of the focus group at the end of this movie) was Social Security.    They didn’t tackle the trade deficit.  Why not talk about how Clinton lowered tariffs on China causing this issue to sky rocket?  What about NAFTA?

They talked about the Medicare Drug Bill draining the country, but they didn’t go into why it’s actually so bad. The bill is so bad because it was written by the Big Pharma lobbyists as exposed in this 60 minutes documentary.

As I said before, Social Security and Medicare needs to be dealt with, but I see the goal of this film and the focus group at the end as going after the poor and middle class.  There is no focus on the juggernauts who are selling us down the river.  Again they didn’t discuss tackling the Fed so we can combat inflation.  That would make it worth while to save money.  Right now, inflation is higher than the interest you can earn on your savings, unless you’re investing in gold or silver.  One idea they presented was to Federally mandate savings–another tax.

What Ron Paul has said is we need to close down our 700 military bases in 130 countries, use that money to meet our current obligations, and then give young people the option of opting out.  I agree this is good, because one generation supporting the last is an unsustainable system.  It requires population growth to combat inflation.  If the birth rate isn’t high enough, you then have a crisis. We have to tackle the Federal Reserve, so if you save for retirement, the interest on your savings will be higher than the inflation rate.

These guys claimed policing the world is not the main expense so they didn’t even address the issue.  They did address George Bush has run up the biggest U.S. deficit in American history.  How do they think he did that that?  Having a $10 billion per month war isn’t the cause?

Let me point out again, Ron Paul has stated ending our global empire would give us the money to meet our current obligations.  Check out this Google search for pie charts on the US military budget and.  It’s a lot higher than they claimed in this film.

In the Above video Cynthia McKinney points out the Pentagon had $2.3 trillion go missing in 1999, and $1.1 trillion go missing in 2000. Defense Department Comptroller Tina Jonas states they spend $20 billion per year, on computer information systems.

It looks like the U.S. foreign aid budget for 2008 is $20.27 billion. They did NOT mention foreign aid.   Why didn’t they look at that?  Foreign aid is supporting foreign politicians for the most part.  It’s not helping the poor.

John McCain wants to cut corporate taxes from 35% to 25%.  Won’t that cause the dollar to plunge even farther?  That’s one way Bush caused the dollar to crash.  He lowered the taxes on the richest 3% of the population, while increasing government spending.

Don’t let them touch your Social Security until they address these other issues.  I hate to put it this way, but it looks like the poor and middle class are about to get screwed again, while all of these other issues go unaddressable.

P.S.

If you want to see a really good film on personal U.S. debt, watch

Maxed Out

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