Freedomain Radio - Stefan Molyneux - 1892 The State of the Nation
Aired: 2011-04-17
Duration: 01:07


=== Tax Divide (01:07) ===

[00:00:00]  Hi everybody, it's Stefan Molyneux from Free Domain Radio.
[00:00:02]  This is the state of the nation.
[00:00:06]  To pay debt, the government borrows dollars and it prints them.
[00:00:12]  U.S. government debt has risen by $3.62 trillion in just over two years.
[00:00:18]  This is an increase of 61%.
[00:00:23]  Over the past four years, Ben Bernanke has created 60% of all of the money available to the US economy out of thin air.
[00:00:33]  The dollar has lost over 95% of its purchasing power since the Federal Reserve was created in 1913.
[00:00:40]  This process is only accelerating.
[00:00:42]  Some experts predict that current US dollars will only retain half their purchasing power in less than a decade.
[00:00:53]  On the tax side, those who are earning $62,000 or more pay 4 out of every $5 collected by the IRS, while on the other side of the scale, about 50% of adult Americans don't pay any taxes at all.