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Obama admits US government is a Ponzi scheme
#260757 - 07/26/11 03:21 AM
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By definition, a Ponzi scheme borrows from new investors to pay existing investors. This "new debt plan" is just that - issue bonds to pay bonds.
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| jopezu |
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bread-train
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Re: Obama admits US government is a Ponzi scheme
[Re: Matty_]
#260759 - 07/26/11 03:27 AM
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this is news? ever heard of social security tax?
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i learned everything i know from KC
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Maybe he likes Giga Wing
[Re: Matty_]
#260766 - 07/26/11 04:15 AM
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１４兆５３６９億５０００万００００ﾄﾞﾙ
and counting...
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GatKong |
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Tetris Mason
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Re: Obama admits US government is a Ponzi scheme
[Re: jopezu]
#260771 - 07/26/11 05:12 AM
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> this is news? ever heard of social security tax?
Well, when Social Security was drafted, the social security money was supposed to "sit" to be distributed someday. Now, if private corporations used a pension fund for anything else but the pensions, that would be "conversion" which is akin to embezzlement, and people go to jail. But the government can break the law (and often does), so they spent the money on God knows what, so here we are, trying to squeeze new young workers to pay for the old workers, and ponzi etc blah blah yadda.
For this reason, what with the debt limit crisis etc. I say "stand your ground" against ANY tax hike, the government CAN'T manage money worth a damn, so the less the government collects the less it can mismange and squander. If we can't afford something (services, entitlements, grants to artists who want to squirt paint out their ass)... that's the tough reality of living in reality.
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| DMala |
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Sleep is overrated
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Re: Obama admits US government is a Ponzi scheme
[Re: GatKong]
#260773 - 07/26/11 05:36 AM
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> Well, when Social Security was drafted, the social security money was supposed to
> "sit" to be distributed someday. Now, if private corporations used a pension fund for
> anything else but the pensions, that would be "conversion" which is akin to
> embezzlement, and people go to jail. But the government can break the law (and often
> does), so they spent the money on God knows what, so here we are, trying to squeeze
> new young workers to pay for the old workers, and ponzi etc blah blah yadda.
Social security was always a Ponzi racket, though. They knew that from the start. It only worked for as long as it did because when the baby boomers were in their prime, the ratio of people paying in to those cashing out was extremely favorable. Now that the boomers are cashing out, the ratio has gone the opposite way and the program is doomed. Politicians raiding the piggy bank has hastened its demise for sure, but it was going to happen eventually anyway.
> For this reason, what with the debt limit crisis etc. I say "stand your ground"
> against ANY tax hike, the government CAN'T manage money worth a damn, so the less the
> government collects the less it can mismange and squander. If we can't afford
> something (services, entitlements, grants to artists who want to squirt paint out
> their ass)... that's the tough reality of living in reality.
I'd be more on board with this if I believed the cuts were going to be across the board. But most politicians' idea of fiscal responsibility is axing the things that peons like you and I might benefit from, while they're busy creating loopholes so their rich buddies can continue cashing in.
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italie |
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MAME owes italie many thank yous, hah
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Sounds like it's time to reboot the system
[Re: DMala]
#260781 - 07/26/11 07:42 AM
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| Tomu Breidah |
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No Problems, Only Solutions
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this is the dawn of a new world order [nt]
[Re: italie]
#260783 - 07/26/11 07:45 AM
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LEVEL-4
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| GatKong |
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Tetris Mason
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Re: Obama admits US government is a Ponzi scheme
[Re: DMala]
#260804 - 07/26/11 04:19 PM
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> I'd be more on board with this if I believed the cuts were going to be across the board. But most politicians' idea of fiscal responsibility is axing the things that peons like you and I might benefit from, while they're busy creating loopholes so their rich buddies can continue cashing in.
I hear you on that.
Unfortunately most Americans see the two as one issue, so they say, yeah, spend it here by raising taxes for it there. But come next term, where its spent changes, but the new tax stays :\
How ever the tax revenue money is spent at any one point changes with each election/budget, so to look at the big picture... continual pressure downward on size/scope/taxes of the government is always trending in the proper direction, no matter how the money is spent at any given moment.
Try to imagine the battles as seperate issues.
1. Taxes (which carry over term to term unless specifically changed)
2. How revenues are spent (which change term to term with each annual budget anyway)
So, if you don't like how politicians reward their friends, not care for the tax payer, then quit giving them your tax-payer money, bottom line. When EVER has the government done the best thing with OUR money that we couldn't have done better for ourselves.
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Re: Obama admits US government is a Ponzi scheme
[Re: jopezu]
#260855 - 07/27/11 03:45 AM
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> this is news? ever heard of social security tax?
Wait till the mainstream figures this out.
Kevin Eshbach
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PONZI scams below 40% approval?
[Re: keshbach1]
#260890 - 07/27/11 01:23 PM
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> > this is news? ever heard of social security tax?
>
> Wait till the mainstream figures this out.
>
>
> Kevin Eshbach
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