Kerry Lutz's--Financial Survival Network

Our political system, which has failed us before, seems to be failing us again. Our elected leaders are run by the corporatism and bailouts of Wall Street and everyday are pouring more and more money into antiquated federal programs. In the last five or so decades, federal income tax receipts have remained fairly constant, yet the tax burden has indubitably gone way up. Simply put, it has been shifted from income tax to other less visible taxes and has allowed government spending in the area of payments for individuals like Medicare, social security, and food stamps to increase at an alarming rate. The government has entered so many non-governmental functions that it has corrupted the private sector by attacking small businesses. Gerald ford said it best, “A government big enough to give you everything you want is a government big enough to take from you everything you have.” 

We have lost sight of what our political system is supposed to do, and we’ve failed at protecting the free market. Our founding fathers believed in limited government and low taxes-they foresaw the fiscal problems we have today, and they would agree that taxing the rich wouldn’t solve the long-term deficit problem.

Please send your questions to kl@kerrylutz.com or call us at 347-460-LUTZ.

The city of Troy, Michigan says no thanks to federal stimulus money. In a 4-3 vote, the Troy City Council turned down 8.5 million for the development of a multi modal transit center that has been in the works for over a decade. The transit project called for a combination of high-speed rail, bus, and taxi and would have created a hub for a regional system clearly missing from the city. While no one would object to investing in a city’s future, the problem so aptly stated by Mayor Janice Daniels is “there’s nothing free about government money.”

Federal money comes from taxes, but the government hasn’t increased taxes—so where is the 8.5 million coming from? It is being printed from out of thin air, as the government continues to borrow from the Federal Reserve and subsequently diminish the purchasing power of the money supply. The government continues to destroy wealth by spending money that it doesn’t have and taxing its citizens in the name of corporate welfare.  

Troy has set the standard for the economy recovery. Take heed towns, counties, cities and states; reject federal dollars and let the private sector fund such projects. 

Please send your questions to kl@kerrylutz.com or call us at 347-460-LUTZ.