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  • dowjones1234 dowjones1234 Oct 28, 2012 6:02 PM Flag

    Can't Vote, If You don't Own Property or Pay Taxes!

    I thought I wrote, "Federal debt alone" is $16 billion?

    I did not even mention that the average college graduate now owes about $23 thousand dollars of borrowed money at graduation.

    I did not mention the unfunded liabilities regarding bloated retirement packages for all State and Government workers, Teachers, Firefighters, Police and other union workers.

    The total US debt is "crushing"!

    Changes need to be made!

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    • #$%$ trying to disenfranchise blacks..women and hispanics

    • Retirement packages for teachers, firfighters and police are not a liability of the federal government and in many cases they are not even a liability of the state government. Take Wisconsin for example, the Wisconsins Employee Trust Fund collects contributions from the state and once those contributions are made the state's liability ends. The Fund is responsible after that and can cut and increas benefits based on investment performance. The Gross Federal Debt is $16 trillion but that includes money the government owes itself. For example, the Federal Reserve bank buys US Gov bonds, collects interest on the bonds and then remits it back to the US Treasury that issued the bonds in the first place. If you eliminate these inter-agency debt holdings the net National Debt is about $10 billion. The Government does not operate on a accrual accounting basis. In other words debts are recognized when they are due and revenue when it is recieved. It's not really accurate to say future obligations are not funded because you have no way of knowing what the revenue or expense will be in a future years. Keep in mind the government can change taxes and benefits any time they want.

      Restricting voting to people who own property or pay taxes is a profundly bad idea. Every America is effected by the laws of the country and deserves a vote. I am a Vietnam veteran..... are you really suggesting people who were drafted, fought and were wounded in that war and now live on non-taxable disability pay should be denied the right to vote?

      I agree federal spending is out of control and we should all be concerned about the consequences of that but I don't agree with denying some people the right to vote and factually flawed arguements don't help much either,

 
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