USA Wants Your Help To Pay The Debt

I seen this on sott.net
H.R.2411.IH

You to can give freely of your income to help pay down the us debt,of course the money you give is NOT tax deductible.
Ive included a link to read the bill ( http://thomas.loc.gov/cgi-bin/query/z?c112:h2411: )
also you could read the informative article on sott here
http://www.sott.net/articles/show/231433-Boiling-Frog-Alert-U-S-Congress-Wants-Automatic-Wage-Deductions-to-Pay-Down-the-Debt

just another prime example of the the puppet masters trying some more underhanded tricks.

whats a puppet master?

I have the same type of program. You just have to send the money to my paypal account and help me pay my debt!

a mongo frog said:

whats a puppet master?

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The government.

Hahaha @midwestmike! That's an awesome idea. I have some things I need too. all they gotta do is legalize MJ. But what do WE know??

So this should be more gold for a small business that get's stuck having to account for all of this shit and the three volumes of paperwork that will doubtless accompany it. How about we all donate a penny a week thru payroll at work and we can just stop the engine of the world. Might as well cuz that's where they're headed...at top speed.

HA! great laugh, or wait , this wasn't a joke, that is even funnier !

Well odumbass was talking about all the money he didn't need. Do you think that bastard plans on giving any to help the debt?

Mulligan said:

So this should be more gold for a small business that get's stuck having to account for all of this shit and the three volumes of paperwork that will doubtless accompany it. How about we all donate a penny a week thru payroll at work and we can just stop the engine of the world. Might as well cuz that's where they're headed...at top speed.

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The most realistic outcome of all this would be exactly what you are saying. how big is the nightmare to setup a government donation plan going to be to a small business? Will they have to hire another person or two in the big companies just to administer it all? Oh and none of your donations to the Government are tax deductible, its exactly like flushing it down the toilet. Actually I think flushing it down the toilet would be better for all, that way they can't pay for more police state theatrics.

Bill Gross undisputed king of debt finance comments on what is going on.
http://video.cnbc.com/gallery/?video=3000033035

[video=youtube;L3mOrrjc8TY]http://www.youtube.com/watch?v=L3mOrrjc8TY[/video]

Welcome to the new normal, financial repression.

[YOUTUBE]UUNIeOB0whI[/YOUTUBE]

Do you know that even if they tax every american living within the us 100 percent of their income it still wouldnt be enough to pay off the debt...

So i just had a brain storm about how we can pay off the debt now hear me out on this ""corporate sponsorship" I mean would it be so bad Welcome to the USA brought to you by pepsi ....white house could get a nike swoop right on the side ..the presdent could end his speaches the follow speech was brought to by the KFC its finger lickin good ...Or we could just tell IRAQ that were taking 10 trillion in oil to pay for the war .....

Em... suppose its not a good time to mention that China now owns just over $1.17 trillion dollars of US Treasury bonds... you's better start learning Mandarin

The National Debt is not just the governments debt, its every single Americans debt. Every time you swipe that credit card, buy a new jet ski on credit or mortgage a house. You are adding to the national debt. So if you want to do your part to lower the national debt. Pay off your credit cards. Dont buy a $150,000.00 dollar house when you can only afford a $80,000.00 house. Stop living beyond your means. Quit spending and start saving...........

Oh Republicans, republicans... they'll do anything to keep the super rich from paying their fair share. You realize this is a Republican sponsored bill, right? Just thought I would throw that out there.

And doesn't this belong in the politics section?

watchhowIdoit said:

The National Debt is not just the governments debt, its every single Americans debt. Every time you swipe that credit card, buy a new jet ski on credit or mortgage a house. You are adding to the national debt. So if you want to do your part to lower the national debt. Pay off your credit cards. Dont buy a $150,000.00 dollar house when you can only afford a $80,000.00 house. Stop living beyond your means. Quit spending and start saving...........

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Yes because it's our fault the debt is the way it is... it has nothing to do with two unpaid wars or the Bush tax cuts or the Wall Street Gang of Thieves. Nope... nuh uh. It's about the middle class and how selfish and stupid they are.

watchhowIdoit said:

The National Debt is not just the governments debt, its every single Americans debt. Every time you swipe that credit card, buy a new jet ski on credit or mortgage a house. You are adding to the national debt. So if you want to do your part to lower the national debt. Pay off your credit cards. Dont buy a $150,000.00 dollar house when you can only afford a $80,000.00 house. Stop living beyond your means. Quit spending and start saving...........

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I'm sorry but you don't seem to understand how this works...the national debt or "sovereign" debt is completely different to your countries accumulated personal debt.

Sovereign debt is debt owed to bondholders who buy Treasury bonds for a 3-6% yield over a period of 1-10 years generally.

Personal debt is the money "the people" owe privately to the credit card companies,banks,etc.

Generally speaking the sovereign debt is vastly less than the personal debt...

Hope this helps...

Seems the US bucks the trend actually,household or personal debt stands at 13.3 trillion(about 113% of total pretax income)...I assume the reason it's lower than US sovereign debt is because of your disproportionately high military spending?

Harrekin said:

I'm sorry but you don't seem to understand how this works...the national debt or "sovereign" debt is completely different to your countries accumulated personal debt.

Sovereign debt is debt owed to bondholders who buy Treasury bonds for a 3-6% yield over a period of 1-10 years generally.

Personal debt is the money "the people" owe privately to the credit card companies,banks,etc.

Generally speaking the sovereign debt is vastly less than the personal debt...

Hope this helps...

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I understand how it works. The 'National Debt' which ever climbing numbers posted at Time Square and what most Americans talk of includes both personal and sovereign debt. Thats why its called the National Debt.........