CHICAGO-(AEAE)-BERNIE MADOFF IS DOING LIFE IN PRISON FOR RUNNING A LITTLE 50 BILLION DOLLAR PONZI SCHEME.
According to Scott S. Powell in an article that appeared in the Chicago Tribune Today, "the U.S. Government borrows 40 cents of every dollar it distributes and runs its main entitlement programs as a vast Ponzi scheme--the world's largest--compete with Enron-like off-balance sheet accounting and grossly unmatched revenues and liabilities. Our elected officials don't follow the rules to enforce honesty that they require of the private sector, such as the standards of generally accepted accounting practices. If voters really understood this they might remove them from office and put some of them in jail. Washington's ways have envolved with a veneer of legal legitimacy, when in fact those ways increasingly resemble the corruption" that the government prosecuted in the Bernie Madoff case.
"America is perlously close to the tipping point where the number of people receiving government benefits exceeds the number paying taxes into the system. In the 4th century B.C. Aristotle explainted that the downfall of democracy was inevitable. When the Democratics pander to the masses endless appetite for benefits by increasing taxation of the productive and wealthy class- thus attempting to kill off the goose that lays the golden eggs." It is for that reason that the Republicans realize that you cannot continue to tax the rich endless to finance those with less ambition. Yet the Republications to date have not been able to contain the spending side of the ledger either.
According to Scott S. Powell in an article that appeared in the Chicago Tribune Today, "the U.S. Government borrows 40 cents of every dollar it distributes and runs its main entitlement programs as a vast Ponzi scheme--the world's largest--compete with Enron-like off-balance sheet accounting and grossly unmatched revenues and liabilities. Our elected officials don't follow the rules to enforce honesty that they require of the private sector, such as the standards of generally accepted accounting practices. If voters really understood this they might remove them from office and put some of them in jail. Washington's ways have envolved with a veneer of legal legitimacy, when in fact those ways increasingly resemble the corruption" that the government prosecuted in the Bernie Madoff case.
"America is perlously close to the tipping point where the number of people receiving government benefits exceeds the number paying taxes into the system. In the 4th century B.C. Aristotle explainted that the downfall of democracy was inevitable. When the Democratics pander to the masses endless appetite for benefits by increasing taxation of the productive and wealthy class- thus attempting to kill off the goose that lays the golden eggs." It is for that reason that the Republicans realize that you cannot continue to tax the rich endless to finance those with less ambition. Yet the Republications to date have not been able to contain the spending side of the ledger either.
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