Who is paying?

Most global governments are busy finding solutions to their debt problems.

Did you notice a typical approach followed by all of them?

The first and most important steps are to squeeze the population with new taxes and reduced benefits.

The politicians, however, never start the process by announcing cuts to their salaries and benefits. New agencies are formed, new levels of bureaucracies are added. They never announce major cuts in the government structure. And we have to pay. They are a really privileged class.

This is one of the reasons government's share of GDP soared from 20% in the 1950s to the current 35%. And rising.

This is exactly how government was conceived in ancient Greece. The politicians are a privileged class because of the many responsibility they are perceived to have.

And we have to pay. The rich and the poor. The old and the young.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest

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