No income limitation? You can only take out so much per year in Loans (income) or the policy lapse. Too big too often and it will definitely lapse sooner than later. You have to limit the income.
Once upon a time, in a faraway land, a government loved to spend money. They would print it whenever they needed it, and tax their citizens to make up for their shortfalls. At first, the people didn't mind. They trusted their government to care for them and spend their tax dollars wisely. But as time went on, the people began to notice that their government was spending more and more money on frivolous things. They built grandiose buildings and hosted lavish parties while the citizens struggled to make ends meet. The government would print more money to pay for these extravagances and then raise taxes to cover their deficit. Welcome to the reality!
Here is a more accurate accounting HOW DID WE GET HERE IN THIS MOMENT AND TIME? Once upon a time in a land far away, a government demanded Taxes Without Represnetation. They loved to spend money. So our founding Fathers, fought for our freedoms, and broke away from that Tyranical Government know as the British. A new Government was setup with a Constitution as the law of land At first the people did not mind. They set up a tax system. They trusted their government to care for them and spend their tax dollars wisely. However what happened was, the Government that was setup bacame tainted. Eventually started to spend money and tax its citizens at an incomprehensible rate. To the point where they would print money whenever they wanted it, and tax their citizens to make up for their short falls. All destroying the monetary system in place. FDR was one of then biggest failures in time. But history tries to record a lie. And as time progressed they noticed that their government was spending more money frivolouse things. They built grandiose buildings and hosted lavished parties, while the citizens struggled to make ends meet. The government would print more money to pay for those extravagancies and raise taxes to cover their deficits… This is the America we live in. Welcome to the 330 Trillion Dollar National Debt
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No income limitation? You can only take out so much per year in Loans (income) or the policy lapse. Too big too often and it will definitely lapse sooner than later. You have to limit the income.
Compared to what?
Once upon a time, in a faraway land, a government loved to spend money. They would print it whenever they needed it, and tax their citizens to make up for their shortfalls. At first, the people didn't mind. They trusted their government to care for them and spend their tax dollars wisely. But as time went on, the people began to notice that their government was spending more and more money on frivolous things. They built grandiose buildings and hosted lavish parties while the citizens struggled to make ends meet. The government would print more money to pay for these extravagances and then raise taxes to cover their deficit. Welcome to the reality!
Here is a more accurate accounting
HOW DID WE GET HERE IN THIS MOMENT AND TIME?
Once upon a time in a land far away, a government demanded Taxes Without Represnetation. They loved to spend money. So our founding Fathers, fought for our freedoms, and broke away from that Tyranical Government know as the British.
A new Government was setup with a Constitution as the law of land
At first the people did not mind. They set up a tax system. They trusted their government to care for them and spend their tax dollars wisely.
However what happened was, the Government that was setup bacame tainted. Eventually started to spend money and tax its citizens at an incomprehensible rate. To the point where they would print money whenever they wanted it, and tax their citizens to make up for their short falls. All destroying the monetary system in place.
FDR was one of then biggest failures in time. But history tries to record a lie.
And as time progressed they noticed that their government was spending more money frivolouse things. They built grandiose buildings and hosted lavished parties, while the citizens struggled to make ends meet.
The government would print more money to pay for those extravagancies and raise taxes to cover their deficits…
This is the America we live in.
Welcome to the 330 Trillion Dollar National Debt