KFLCC Kingdom Economics

F INANCIAL S ECURITY IN THE L AST D AYS

nearly five trillion dollars and now exceeds one hundred percent of our gross domestic product. As of this writing, the national debt is nearly sixteen trillion dollars. The U.S. Treasury debt rating was downgraded in 2011, which is a warning that there is an increased risk that those who invested in bonds and U.S. debt will not get their money back. As with the latter Roman Empire, the idea is to increase taxes on the people, which is similar to applying a small band aid to an amputated leg. J OB C REATION The third parallel of Rome with America is related to jobs. In the latter part of the Roman Empire, the primary high paying jobs were those created within the Roman government, especially the government around the area of Rome itself. If you were a politician or fortunate enough to be from an aristocratic family, you could fend quite well for yourself. However, many of the common people turned to government doles, which was a term used for the supply of grain to the city of Rome. In the beginning, citizens purchased the grain, but eventually it was given free. Later emperors added free oil, pork, and wine. The Roman dole would be an early form of the public assistance programs we use today. Some people abuse such systems, but anytime the middle class begins to disappear as we see happening today, people who were once in the middle class begin to seek government assistance. In recent years, the job growth in America has been weak, with the exception of jobs linked to the state and federal governments. Just as in Rome, these government jobs are some of the highest paying and most secure, while outside of the beltway and capitals, the middle class disappears as they suffer from low pay and a lack of full-time work. H IGHER T AXES The fourth pattern being repeated deals with taxes. Rome and all of Italy was a land covered with farms and vineyards, with farmers caring for their personal properties. To maintain the income levels for the government workers, the empire’s infrastructure, and the Roman soldiers scattered as peacekeepers throughout the nations, it became necessary for the Roman government to raise taxes. One of the best sources of revenue was to tax the land owners. In many instances, taxes became so high that the commoners began to quit their jobs to live off the government dole. Eventually a law was passed to prevent

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