We are in an era where governments are on the hunt for taxes. Couple this with larger debts that require more money to serve said debt.
In this video I discuss how we have seen a slowing economy over the last few decades. This is counter to what is taking place as we are in a technological age.
▶️ 3Speak
We have a situation here with fallout from one of three national refugee detention centers nearby. Destitute people are released and put up roots here. There is a huge underground economy with those who arrived here illegally, working for cash. This means they aren't paying into the tax base, while receiving services. This in turn, causes the local government to raise taxes on the citizens who are left, to the point that they move away, meaning even less people are paying for a growing number who aren't.
It's unstistainable in the long run and is causing a brain drain of our brightest minds to greener pastures, leaving the area even poorer with each passing year. Americans are pushed out of jobs in favor of immigrants who will work for less and under the table in cash. The very economy that brought them here is slowly being milked dry.
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Americans are also facing job loses due to automation. So it is really an across the board problem.
Where I live, the jobs people do for cash, are ones that few want to do.
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I wish that was the case here Task, but it's not. Now it's construction and factory jobs along with others.
There's an old saying that "A conservative is a liberal who's been robbed." something like that happened to me...
I worked at a plant on a line with 21 other people. One day a bunch of new people came over and told all of us that they were going to get all of the Americans fired so they could replace us and support their families in Central America. One by one, we were picked off, until we figured out how they were doing it.
They'd wait until we went on breaks or to the bathroom and then sabotage our machines. We had a daily quota and would then be shut down until the lone mechanic fixed them one after the other. A christian guy from Mexico tipped me off. No one would listen to us and six months later, of 21 American workers, only two of us were left.
They laughed at both of us and said we'd be next...
In the breakroom, they would spit on the US flag in front of us, wipe their noses with it, then throw it in the trashcan. Supposedly here for the "American Dream" they actually despised the country that was allowing them to send money back home.
I refused to take breaks and stood guard at my machine. That's when we found out about the toll-free immigration hotline where you can call in and report them. We realized that we had a choice; either we fight back or be run out of our jobs as well.
We fought back.
The citizens that were left, got together and called it in. The place was raided and one guy who'd bragged about sabotaging our machines, asked us how he was going to feed his family in Honduras. I said "you didn't give a damn about how the American citizens you ran out would feed their families, so now you know how it feels!"
This happens all over here. So, yeah, the people here are fed up and our once warm and welcoming manner has faded. No one had as much sympathy for migrants in my family as me back then and I was shocked at how we were treated. They just announced that Joe Biden is closing the immigrant detention center here and thank God for that.
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Shhhh!!!! You can't say that out loud!!! It makes too much sense. What the hell's wrong with you?!
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Yes and don't forget the new taxes. The article I saw yesterday about mileage tax was ridiculous. Given the number of cars in the US and many people use it get to get around for both work and daily activity, adding this to something that people don't make money with is horrible. Will mileage generate profit? No it doesn't. It makes zero sense what goes in these dumb politicians head.
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Just another way to suck money they feel they are entitled to.
It is the problem with politicians and bureaucrats. They feel they are entitled to people's money.
That is why they need to be obliterated and technology will offer that. We just need to keep pushing forward.
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The whole point of our constitution was to have a REPUBLIC of states that could curtail the power of the Federal Government. There were all kinds of warnings about not letting the government get too big. Politicians got too greedy and the states let them. THAT'S where things will have to begin if we want to give this country back to the people. At the state level. Governors have enormous power over the federal government that they never use. If things keep going down this pathway, that is where it will have to change.
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Republics tend to fail because the people eventually realize they can vote themselves a check. It was required when it was developed because democracy was hard to have a handle on due to the distance and slowness of communication.
Times are much different now.
Hopefully technology will move us towards new governance models and structures that we can be done with the "representatives". What is worse is the US is not even run by politicians but the "swamp". We have unelected bureaucrats who answer to nobody in terms of the public.
We need to start the process of changing this and quickly.
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Well said. That is so true about the swamp. Trump went in there with that intent and got sent home with his tail between his legs. Truthfully, if he couldn't get it done, it's really going to be tough for anyone else to do it. And now that they're in, the Dems will stack the deck even more to make sure it can't happen.
Enough politics. On a brighter note, Cub TVL is up another $100k to just shy of $11.7M. I'm just hoping to watch the number climb day after day....
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I still havent moved my money around. I need to get myself some more Cub although the new Kingdom sounds like an interesting idea so I might be better off waiting for that.
So many options appearing.
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Well, if you're waiting for the Kingdoms that's one thing. But if you're thinking about any of these others then I'll just remind you the 24 hrs is ticking on zero fees. Obviously that shouldn't really factor into your decision but....if you were contemplating going into any of the 4% options, that is not a small fee so it bears remembering. Personally, I might try the bBTC one but I hate moving that around. But, 59% is 59%. Can't really go wrong there even if it drops in half. Could take the farmed Cub and convert back to btc.... Or the kingdom bBTC/BNB where farmed assets are converted back into both sides. That sounds appealing. But, I'd probably have to sell a little btc to get enough bnb to match. Babbling, sorry. :-)
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Small welfare countries like Denmark can make big taxes work and provide a high standard of living, but the bigger the state the larger the inefficiencies and so the less people get to benefit from those taxes
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I cant speak for other countries but in the US a big problem, in addition to the inefficiencies, is the pure cronyism that exits. You have the defense industry which is really based upon that. They "bride" both sides of the aisle to get what they want, which is enormous contracts.
That is how that pad their earnings every year.
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Perhaps that is why they will go crazy with cryptocurrencies and the decentralized market
Because they cannot tax individuals or make a census for them.
They might try to censor big companies in cryptocurrency, but for individuals they can't.
Therefore, they look with regret at the billions being pumped into the market, and they cannot reap anything from it
In the US they are taxing crypto. It will likely be a major windfall for them. At least until developers start to make stuff where we cant be tracked.
Either way, change is in the air.
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@taskmaster4450le obviously that is the reason why many of the governments all over the world are not actually so interested in cryptocurrencies because they believe they will not be able to tax it the way they want...
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They will have a tougher time doing it. Yet it is a threat to their very existence which I am glad about.
Time to start taking power away from them.
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The friction that taxes add to an economy like this are unacceptable.
Crypto allows us to pay for everything via inflation and governance votes.
Agreed. They are slowing things down with taxes and debt (servicing costs) that completely stall things out.
This is why they are going to have a tough time keeping up with crypto, the lack of friction means a lot more shit can get done and the total value can grow at a much greater rate.
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I'm just going to upvote you, comment, and move on. I can't watch this one because I know how much it will piss me off. lol
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Damn, I didn't even have to watch it and I'm STILL pissed off. lol
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Summary:
In this video, the speaker dives into the topic of taxes and the potential consequences of increased taxation. He expresses his concerns about the current trend of governments globally, particularly in the United States, pushing for higher tax rates. The speaker argues that excessive taxation can have adverse effects on economic growth, citing examples from various industries like construction, telecommunications, and cable. He also criticizes government inefficiency, monopoly practices, and the negative impact of high taxes on investment and innovation. The speaker warns against the dangers of following radical leftist, socialistic, and Marxist views on taxation, emphasizing historical examples and potential repercussions. In conclusion, he suggests that current government policies could lead to unintended consequences and highlights the importance of considering the long-term effects of tax policies.
Detailed Article:
The video begins with the speaker addressing the audience's common disdain for taxes, highlighting the ongoing global trend of governments seeking increased revenue through taxation. In the United States, there are proposed tax rate hikes, which the speaker believes are inevitable, prompting discussions on which taxes will be affected. The speaker expresses concern over the potential consequences of heightened taxation, emphasizing the negative impact this could have on economic productivity.
Furthermore, the speaker delves into the stagnation in certain industries like construction, attributing it to various factors such as monopolistic practices, regulatory hurdles, and bureaucratic red tape. He illustrates how increased taxes lead to reduced investment, citing historical evidence of this phenomenon. The speaker also criticizes both government and monopolistic entities for their inefficiency, lack of competition, and stifling effects on innovation.
The discussion extends to examples in the telecommunications and cable industries, where monopolies or duopolies hinder competition and progress. The speaker argues that the political landscape, irrespective of party affiliations, contributes to the taxation dilemma. He warns against the radical leftist, socialistic, and Marxist views on taxing the wealthy, drawing parallels with the economic struggles faced by the European Union due to burdensome tax policies.
Moreover, the speaker touches on the global debt crisis, pointing out the significant level of corporate debt and its implications for economic recovery. He criticizes the actions of politicians who lack a comprehensive understanding of the economic implications of their decisions, leading to detrimental outcomes such as businesses relocating and economic downturns. The speaker references historical instances, including the impact of FDR's policies on the stock market, to support his arguments against punitive taxation measures.
In conclusion, the speaker suggests that the current trajectory of government policies regarding taxes may have unintended consequences, urging viewers to be cautious about the long-term effects of such decisions. The video wraps up with a message about potential shifts in global financial centers and the need to remain vigilant about governmental policies and their ramifications.