Ron Paul on taxation?

[Copernicus]

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IF YOU TAKE OUT A CAR LOAN FOR A $30,000 CAR FROM GMAC, YOU HAVE YOU HAVE A DEBT FOR $30,000 AND YOU HAVE A $30,000 CAR. YOUR NET WORTH IS UNCHANGED.

IF YOU BORROW $30,000 FROM YOUR IRA AND BUY A $30,000 CAR YOU HAVE $30,000 LESS IN YOUR IRA AND A $30,000 CAR. YOUR NET WORTH IS UNCHANGED. THIS IS EXACTLY WHAT THE GOVERNMENT DOES WHEN THE SSA BUYS BONDS.

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Except that the government doesn't buy cars. It makes payments that go to *consumption*. <font color="red">The financing is irrelevant to what is bought. Nice try at your typical obfuscation though. </font> Those seniors have to actually *eat* the dog food they buy with their social security checks. <font color="red"> asinine inflammatory strawman...boro scores the triple play </font> They can't pile it up in their garage and call it an asset.

So, no, absolutely not, the national net worth is emphatically NOT unchanged by social security debt. <font color="red"> yes, it is, and you might try demonstrating instead of proclaiming it </font>

Even your non-analogous example is terrible though. A car is a rapidly depreciating capital asset. <font color="red"> again it has nothing to do with whats purchased. pick anything you like, the net result is still the same </font> Presumably the cash in your investment account was an appreciating asset. Clearly when you cash $30,000 out of an IRA and buy a $20,000 car (had to pay $10,000 in tax and penalties, don't you know) <font color="red"> you apparently dont understand the difference between borrow (which is what the government does) and cash out. </font> and you drive the car off the lot, it's probably only worth $15,000 immediately, and the gap between what your appreciating financial capital in your investment account would have been worth and your depreciating physical capital (the car) grows exponentially over time.

If you're going to accuse people of beings liars, you should at least get your facts straight. <font color="red"> get your own straight before you respond. you have no clue wtf youre talking about. typical goverment PhD who couldnt function in the competitive world if he had to.</font>

Also, your caps lock seems to be stuck.

[/ QUOTE ] <font color="red">your head appears to be stuck up von mises anal orifice. </font>