"There will be no more tax-funded bailouts, period."
Technically, barring something unanticipated, President Obama told the truth when he said this today. If he could have left it there, he could have remained in truth...alas, he could not:
"Because of this law, the American people will never be asked again to foot the bill for Wall Street's mistakes,"
See, this statement is patently untrue. Is it a lie - who knows? Whether it is deception or ignorance, it is a false statement.
In order to see why it is false, we must examine how the regulation intends to deal with the possible (likely) failures in the future. The plan, in short, is to charge a fee (tax) to the banks which will be placed in a fund (haha, yeah, right...like social security and the highway fund). The fund will be used to deal with any financial failures which occur.
Now here comes the unspoken truth: where does the money actually come from?
Well the banks and financial institutions, of course. Right?
Wrong!
Self-evident truth of economics #1: businesses pay no taxes (fees, assessments, tribute). Businesses only collect taxes (etc.).
The way it works is that a business intends to make a profit. Now, since in the most basic sense, profit exists only when revenue exceeds expenses, if a business' costs increase, in order to stay profitable, it will have to increase its prices. (Of course there are other factors which could prevent the price increase, but lets set that discussion aside for the moment.)
A bank is a business which is organized to make a profit, therefore, if the bank is taxed or charged a fee, it will pass that cost on to the customer through increased prices.
Thus, the bailouts of the future will still be paid for by the American people - there just won't be a TARP to act as a lightning rod for public scorn (at least not at first).
Oh, by the way, the price increases passed to the consumer will be regressive, that is, the extra costs will cause greater harm to those with the least assets. If you want to know how that works, ask me.
This is just one of the problems with this legislation, but let's save them for another day.
Wednesday, July 21, 2010
Saturday, July 10, 2010
Separation
The purpose for writing what I do here is not to instruct or lecture but to express myself on select issues and to make public my search, our search, for a way for my family, friends and me to navigate The Way while residing physically in a foreign land.
I know that there is an answer to the question.
Much time has been invested in researching how to remove, or more correctly separate, from the world. Many schemes to rescind numbers, certificates and liscenses have been reviewed. Dozens of legal strategies for overcoming the state with tricks and avoiding traps have been heard.
All of the propositions have one major flaw: they use they system to subvert the system or to defeat the system. Going to one part of the secular government to try to win immunity from another part of the secular government is akin to a chicken going to KFC to be protected from Tyson...you are still gonna be dinner.
If you use a process, designed into the system, to escape the world, what is there about that process that makes you believe you are free?
It seems to me that there are only three ways to separate completely from the world:
1. Leave the territory under their control,
2. Overthrow the rulers,
3. Be set free.
Since the entire world is under the control of the usurper and his forces, there is no where to go.
There are few, a remnant as it were, who seek this liberty, Rebellion is neither possible nor acceptable. I can find no-where where we are instructed by God or true Apostles to engage in an overthrow of any government of the world - locally, nationally or internationally. In fact, i can't even find a suggestion, much less a command, to engage with the world system to modify it. This precludes a dominionist concept of rule on the part of believers.
That leaves liberty by release. Either the slavemasters must voluntarily free us or our price must be paid (i.e. our debt satisfied).
The idea of redemption, Christ as kinsman redeemer, would have to come into play here.
Here are some references to explore:
http://threshingfloor-radio.com/index.php/2010/07/gospel-of-kingdom/
http://www.hisholychurch.org/index.php
http://www.oneradionetwork.com/liberty%10geopolitics_-_podcasts/%93how_to_be_free_in_an_unfree_world%94/david_williams_says_there_is_a_reason_the_constitution_is_not_working_for_us__live_monday,_may_31st._201005311720
http://www.oneradionetwork.com/liberty%10geopolitics_-_podcasts/%93how_to_be_free_in_an_unfree_world%94/david_williams_says_the_constitution_does_not_apply_here_thursday_,_july_1st_10_am_central_201006301749/
Read and listen.
Come back and talk with...and with them. Clever tricks and word games are not enough. We have other work to do.
P.S. Apologies for the roughness of the post. It was written in one pass. I will edit and expand in the coming days. This is the point of all of it.
I know that there is an answer to the question.
Much time has been invested in researching how to remove, or more correctly separate, from the world. Many schemes to rescind numbers, certificates and liscenses have been reviewed. Dozens of legal strategies for overcoming the state with tricks and avoiding traps have been heard.
All of the propositions have one major flaw: they use they system to subvert the system or to defeat the system. Going to one part of the secular government to try to win immunity from another part of the secular government is akin to a chicken going to KFC to be protected from Tyson...you are still gonna be dinner.
If you use a process, designed into the system, to escape the world, what is there about that process that makes you believe you are free?
It seems to me that there are only three ways to separate completely from the world:
1. Leave the territory under their control,
2. Overthrow the rulers,
3. Be set free.
Since the entire world is under the control of the usurper and his forces, there is no where to go.
There are few, a remnant as it were, who seek this liberty, Rebellion is neither possible nor acceptable. I can find no-where where we are instructed by God or true Apostles to engage in an overthrow of any government of the world - locally, nationally or internationally. In fact, i can't even find a suggestion, much less a command, to engage with the world system to modify it. This precludes a dominionist concept of rule on the part of believers.
That leaves liberty by release. Either the slavemasters must voluntarily free us or our price must be paid (i.e. our debt satisfied).
The idea of redemption, Christ as kinsman redeemer, would have to come into play here.
Here are some references to explore:
http://threshingfloor-radio.com/index.php/2010/07/gospel-of-kingdom/
http://www.hisholychurch.org/index.php
http://www.oneradionetwork.com/liberty%10geopolitics_-_podcasts/%93how_to_be_free_in_an_unfree_world%94/david_williams_says_there_is_a_reason_the_constitution_is_not_working_for_us__live_monday,_may_31st._201005311720
http://www.oneradionetwork.com/liberty%10geopolitics_-_podcasts/%93how_to_be_free_in_an_unfree_world%94/david_williams_says_the_constitution_does_not_apply_here_thursday_,_july_1st_10_am_central_201006301749/
Read and listen.
Come back and talk with...and with them. Clever tricks and word games are not enough. We have other work to do.
P.S. Apologies for the roughness of the post. It was written in one pass. I will edit and expand in the coming days. This is the point of all of it.
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