On 4 March 1791, 218 years ago, Vermont surrendered its sovereignty as an independent republic and became the fourteenth state of the American Empire, the largest, most powerful, most militaristic, most materialistic empire of all time. Today Vermont finds itself emasculated by a nation which is owned, operated, and controlled by Corporate America and the Wall Street Mafia. Not only does the United States government engage in illegal wars with Afghanistan and Iraq, but it also condones a convoluted war on terrorism, corporate greed, pandering to the rich and powerful, a culture of deceit, and a foreign policy based on full spectrum dominance, imperial overstretch, and unconditional support for the terrorist state of Israel.
Notwithstanding the effects on Vermont of the collapse of the U.S. economy, how much does it cost Vermont to stay in the Union? According to a recent study by retired UVM physics professor Hans Ohanian, for every dollar paid by Vermonters for federal taxes, Vermont gets back only 75 cents in federal expenditures. The study also shows that a family of three earning $50,000 per year would save $6,330 annually, if Vermont were an independent republic ($750 in income taxes and $5,580 in its pro rata share of the federal deficit). Stated alternatively, it costs the family $6,330 each year Vermont remains a part of the Empire.
Unfortunately, these figures significantly understate the negative impact which the failing U.S. economy is having on Vermont. Currently the economy is in a state of free fall. We are in completely unchartered territory. Both the U.S. Treasury and the Federal Reserve Board are printing money as though it were going out of style. No one knows how to put Humpty Dumpty back together again.
The federal government could easily become insolvent by year end, if either China or Japan pulls the plug on government bonds. The value of the dollar would plunge and prices and interest rates would soar.
The Titanic is going down, and Vermont is being pulled under with it. The idea that the U.S. government will bail out Vermont is pure fantasy. The cost of Vermont remaining in the Union could become prohibitive. Isn’t it high time Vermont took control of its own economic and political destiny?
Thomas H. Naylor
March 4, 2009