Monday, March 18, 2013
Government confiscation of your bank account coming?
The US National Debt is $16.7 TRILLION or $147,483 per tax payer, but that is only part of the picture. Add interest on the debt, and we have a total US National Debt of $59.2 TRILLION, which is $187,645 per taxpayer and a total debt of $745,645 per family. The Medicare liability is $85.4 TRILLION or a little over a $1 million per taxpayer. This, according to US Debt Clock, which obtains its figures via the US Department of Treasury. The Cyprus national debt is $19.7 billion plus $1.3 billion in interest, totaling $21 billion. This amounts to about $18,000 per person living in Cyprus. Why Cyprus? It stands as an example of what could come to the United States when the government decides to collect.
From fashion trends to financial practices, what we see in Europe often makes it’s way to the United States. The one true fashion in European government that is strikingly similar to America’s government is debt financing. European debt has soared as the European Union tries to spend its way out of debt. Sounds stupid to you? For sure. But that is exactly what the US government is doing. Now the EU reached an agreement Saturday to “lend” Cyprus $13 billion while at the same time imposing a “levy” on those with cash in Cyprus banks. In real terms, the Cyprus government will confiscate between 6.75-9.9% of the money from all the personal bank accounts in the country to avoid default.
No doubt, America is bigger than Cyprus. No doubt, America’s economy is strong than that of Cyprus. No doubt, that the arrogant banking industry and the senseless scoundrels in America’s government are much the same as those in the European Union. So how long will it take before the Federal government of the United States, or a state government, or a local government, for that matter, decides to confiscate ten percent of your bank account to pay its debts, which are the debts these elected highwaymen have incurred on your behalf? Europe is setting a precedent that all the politicians are saying is only an extreme, one time act. But we know how those go, don’t we? Can anyone say Quantitative Easing?
If the European Union is willing to confiscate bank accounts over $18,000 of debt for every person living in Cyprus, what would the occupant of the Oval Office be willing to do over $187,645 in debt from each taxpayer? Jesus said in Luke 20:25, “Render therefore unto Caesar the things which be Caesar’s, and unto God the things which be God’s.” And that is the mantra of Christians on taxes. But Caesar was a dictator by today’s standards. In America, the government is by Constitutional law accountable to the people. You may say, “This will never happen in America.” And I will say, “It already has.” How much say did you have over the reduction in your paycheck that occurred at the beginning of the year?
Have a Blessed and Powerful Day!
Bill Wilson
www.dailyjot.com
