The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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19 Very Surprising Facts About The Messed Up State Of The U.S. Economy

19 - Public DomainBarack Obama and the Federal Reserve are lying to you.  The "economic recovery" that we all keep hearing about is mostly just a mirage.  The percentage of Americans that are employed has barely budged since the depths of the last recession, the labor force participation rate is at a 36 year low, the overall rate of homeownership is the lowest that it has been in nearly 20 years and approximately 49 percent of all Americans are financially dependent on the government at this point.  In a recent article, I shared 12 charts that clearly demonstrate the permanent damage that has been done to our economy over the last decade.  The response to that article was very strong.  Many people were quite upset to learn that they were not being told the truth by our politicians and by the mainstream media.  Sadly, the vast majority of Americans still have absolutely no idea what is being done to our economy.  For those out there that still believe that we are doing "just fine", here are 19 more facts about the messed up state of the U.S. economy... (Read More....)

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Obamacare: The Final Nail In The Coffin For The Middle Class

CoffinIf there were any shreds of hope left that the stunning decline of the middle class could be turned around, Obamacare has absolutely destroyed them.  Over the past decade or so, the middle class in the United States has been absolutely eviscerated.  The number of working age Americans without a job has increased by 27 million since the year 2000, median household income in the U.S. has fallen for five years in a row, and the poverty numbers in this country are spiraling out of control.  And now here comes Obamacare.  As you will see below, Obamacare is causing millions of Americans to lose their current health insurance policies, it is causing health insurance premiums to explode to absolutely ridiculous levels, and it is systematically killing jobs even though the employer mandate has been delayed for a while.  All of this is creating a tremendous amount of stress for millions of middle class families that are already stretched extremely thin financially.  According to CNN, a survey that was conducted earlier this year found that 76 percent of all Americans are living paycheck to paycheck.  Most of those families simply cannot afford to pay much higher health insurance premiums for new policies that also come with much larger deductibles and significantly increased out-of-pocket costs.  Millions of those families will ultimately end up choosing to do without health insurance altogether, and that will create a whole host of new problems.  This is a disaster that is so enormous that it is really hard to put into words.  If the U.S. health care system was a separate country, it would be the 6th largest economy on the entire globe all by itself.  And now Obamacare is going to bring the entire U.S. health care system to its knees. (Read More....)

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Show This To Anyone That Believes That Taxes Are Too Low

Every year average Americans pay dozens of different types of taxes, and yet many of our politicians are very open about the fact that they want to raise rates even higher and invent even more ways to bleed us all dry.  Someday historians will look back and be absolutely amazed at how stupid we were.  We have the most complicated tax code in all of human history and at this point the federal tax code is more than four times as long as the entire collected works of William Shakespeare.  In many places it is so incomprehensible that nobody actually understands what it means and the entire thing is absolutely riddled with loopholes from the beginning to the end.  Trust me, I used to study this stuff.  Nobody could ever read the entire thing - it is close to four million words long.  But that is just for federal income taxes.  We have a number of other taxes taken out of our paychecks such as state income taxes, Social Security taxes and Medicare taxes.  Sadly, the taxes taken out of your paycheck are only just the beginning.  As I will detail below, there are more than 40 other taxes that average Americans pay each year in addition to the taxes that are taken out of our paychecks.  Our politicians love to find ways that they can "raise revenue" without us feeling it.  Most people just focus on income tax rates and they forget about the dozens of other ways that they are bleeding us dry.  It really is kind of like "death by a thousand cuts", and of course the middle class gets hit the hardest.  The poor are exempt from many taxes, the ultra-wealthy are masters at cheating the system and avoiding taxes, and so the most pain is always felt by those in the middle.  Hard working middle class families and small businesses all over America are being financially raped by this insidious system.  If you know of anyone out there that believes that taxes are "too low", please show this article to them. (Read More....)

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37 Facts That Show How Cruel This Economy Has Been To Millions Of Desperate American Families

Have you ever laid in bed awake at night with a knot in your stomach because you didn't know how your family was possibly going to make it through the next month financially?  Have you ever felt the desperation of not being able to provide the basic necessities for your family even though you tried as hard as you could?  All over America tonight, there are millions of desperate families that are being ripped apart by this economy.  There aren't nearly enough jobs, and millions of Americans that actually do have jobs aren't making enough to even provide the basics for their families.  When you have tried everything that you can think of and nothing works, it can be absolutely soul crushing.  Today, one of my regular readers explained that he was not going to be online for a while because his power had been turned off.  He has been out of work for quite a while, and eventually the money runs out.  Have you ever been there?  If you have ever experienced that moment, you know that it stays with you for the rest of your life.  If you are single that is bad enough, but when you have to look into the eyes of your children and explain to them why there won't be any dinner tonight or why they have to move into a homeless shelter it can feel like someone has driven a stake into your heart.  In this article you will find a lot of very shocking economic statistics.  But please remember that behind each statistic are the tragic stories of millions of desperately hurting American families. (Read More....)

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Are You Better Off? 40 Statistics That Will Absolutely Shock You

Are you better off today than you were four years ago?  This is a question that comes up nearly every election.  This year the Romney campaign has even created a Twitter hashtag for it: #AreYouBetterOff.  The Democrats are making lots of speeches claiming that we are better off, and the Republicans are making lots of speeches claiming that we are not.  So are most Americans actually better off than they were four years ago?  Of course not.  One recent poll found that only 20 percent of Americans believe that they are better off financially than they were four years ago.  But the same thing was true four years ago as well.  Our economy has been in decline and the middle class has been shrinking for a very long time.  The Democrats want to put all of the blame on the Republicans for this, and the Republicans want to put all of the blame on the Democrats for this.  A recent CNN headline defiantly declared the following: "Decline of middle class not Obama's fault", and this is the kind of thing we are going to hear day after day until the election in November.  But obviously something has gone fundamentally wrong with our economy.  So who should we blame? (Read More....)

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Obama Has Stolen $5.3 Trillion From Our Children In Order To Make Himself Look Good

Barack Obama has destroyed the future of America in order to improve his chances of winning the next election.  Under Obama, 5.3 trillion dollars has been ruthlessly stolen from our children and our grandchildren.  That money has been used to pump up the debt-fueled false prosperity that we have been experiencing.  When the U.S. government borrows money that it does not have from someone else (such as China) and spends that money into the economy it is going to make our economic numbers look better.  Even if the government spends that money on incredibly stupid things, it still gets into the hands of average Americans who in turn spend that money on food, gas, clothes, etc.  If we were to go back and take that extra 5.3 trillion dollars out of the U.S. economy, I guarantee you that we would be in a rip-roaring depression right now.  We would look a lot like Greece at this point.  For several years Greece has been raising taxes and cutting government spending in an attempt to balance the budget and these austerity measures have resulted in an unemployment rate of over 23 percent and an economy that has contracted by close to 25 percent.  Most Americans don't want to go through pain like that so they are okay with continuing to financially rape our children and our grandchildren.  Just imagine how you would feel if your parents died tomorrow and you found out that they had left you with a million dollar debt that you were legally obligated to pay off.  How would you feel, knowing that you had just been sold into debt slavery for the rest of your life?  Well, that is how our children and our grandchildren are going to feel.  We are destroying the greatest economic machine the world has ever seen, we are accumulating the biggest mountain of debt in the history of the planet, and the coming economic collapse that we have caused is going to wipe out the promising future that our children and our grandchildren were supposed to have.  If they get the chance, future generations of Americans will curse us bitterly and will spit on our graves.  What we are doing to our children and our grandchildren is the kind of stuff that horror movies are made of.  You should be ashamed of yourself America. (Read More....)

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The Corn Is Dying All Over America

All over America the corn is dying.  If drought conditions persist in the middle part of the country, wheat and soybeans will be next.  Weeks of intense heat combined with extraordinarily dry conditions have brought many U.S. corn farmers to the brink of total disaster.  If there is not significant rainfall soon, many farmers will be financially ruined.  This period of time is particularly important for corn because this is when pollination is supposed to happen.  But the unprecedented heat and the extremely dry conditions are playing havoc with that process.  With each passing day things get even worse.  We have seen the price of a bushel of corn soar 41 percent since June 14th.  That is an astounding rise.  You may not eat much corn directly, but it is important to realize that corn or corn syrup is just about in everything these days.  Just look at your food labels.  In the United States today, approximately 75 percent of all processed foods contain corn.  So a huge rise in the price of corn is going to be felt all over the supermarket.  Corn is also widely used to feed livestock, and if this crisis continues we are going to see a significant rise in meat and dairy prices as well.  Food prices in America have already been rising at a steady pace, and so this is definitely not welcome news. (Read More....)

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How The Super Rich Avoid Taxes Even As They Demand That The Rest Of Us Pay More

The way that we tax people in the United States is fundamentally broken and should be completely discarded.  The U.S. tax code is absolutely riddled with loopholes that allow the super rich to legally avoid taxes while many of the rest of us are being taxed into oblivion.  In our system of taxation, middle class families that work hard and try to play by the rules are deeply penalized while those that are willing to abuse the system make out like bandits.  There is something fundamentally wrong with a system that enables wealthy politicians such as Barack Obama and Mitt Romney to pay a smaller percentage of their incomes in taxes than millions of middle class families.  Mitt Romney has millions of dollars parked down in the Cayman Islands and in other tax havens.  He does this to avoid taxes.  Unfortunately, most Americans do not have the resources to funnel money through offshore tax havens.  Most Americans just automatically have their paychecks shredded by taxes and then try to live on whatever is left over.  Most Americans are just trying to survive financially from one month to the next.  But the super rich have options.  Thanks to technology, they can live almost anywhere they want and they can run their companies and manage their investments from anywhere in the world.  The truth is that the wealthier you are the easier it is to avoid taxes.  But even as the ultra-wealthy do their best to avoid taxes, many of them still feel free to demand that the rest of us be taxed more. (Read More....)

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