Bernie Madoff’s Social Security Scheme
Nobody Gets Email
This email speaks for itself. We should all remember this when they talk about Social Security. 
(Thanks to Tom Beebe)
*****
Why did Bernie Madoff go to prison? To make it simple, he talked people into investing with him. Trouble was, he didn’t invest their money. As time rolled on he simply took the money from the new investors to pay off the old investors. Finally there were too many old investors and not enough money from new investors coming in to keep the payments going.
Next thing you know, Madoff is one of the most hated men in America and he is off to jail. Some of you know this, but not enough of you. Madoff did to his investors what the government has been doing to us for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that on was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.
Do you need a side-by side comparison here? Well, here’s a nifty chart.
|
BERNIE MADOFF |
SOCIAL SECURITY |
|
1. Takes money from investors with the promise that the money will be invested and made available to them later. |
1. Takes money from wage earners with the promise that the money will |
|
2. Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts etc. |
2. Instead of depositing money in a Trust Fund the politicians transfer it to the ‘General Revenue Fund’ and use it for general spending and vote buying. |
|
3. When the time comes to pay the investors back Madoff simply uses some of the new funds from newer investors to pay back the older investors. |
3. When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the older people. |
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4. When Madoff’s scheme is discovered all hell breaks loose. New |
4. When Social Security runs out of money the politicians try to force |
|
5. Bernie Madoff goes to jail; then who pays his medical, housing and |
5. Politicians remain in Washington… with fat medical and retirement benefits. |
The Taxpayer; That is someone who works for the federal government but doesn’t have to take the civil service examination.
“If you put the federal government in charge of the “Sahara Desert”, in five years there’d be a shortage of sand.”
–Milton Friedan
Pass this on to Another Taxpayer.
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I am a nobody. If the different classes of America were color-coded, I would be in the yucky brown, one rung up from the bottom. I grew up in Naples, Florida and live near the Mississippi River now with my husband and two dogs. I am part of the slowly disappearing middle-class. I was a musician most of my life: drummer/singer/keyboards—but I retired before the plastic surgery flu hit. I have no degrees, which could be a good thing…depending on how you view our educational system. I do have three patents…but that really doesn’t make me a somebody. The one thing that is constant in my life is my OPINIONS, which i have more than perhaps even Carl Sagan could have imagined…mostly political. (yes…my ancestors were crabby buggers)
Hopefully other nobody’s will put their opinions on my site. But, if you happen to be a somebody, you’re more than welcomed to help out.
It’s my Nobody Opinion that Nobody’s Perfect, and Nobody Cares, that Nobody Knows why Nobody Wins, and when that happens, Nobody Wonders, why Nobody Flashes, why Nobody’s Fooled, but then Nobody remembers that Nobody ALWAYS Reports the truth.
You can email me at joyanna_adams@yahoo.com
Joyanna Adams
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Pingback by Annuity Benefits | October 30, 2011 |
Not to mention Fife Robertson. He was a TV reporter (UK) way back when who used to travel around looking into local council inefficiencies. He would find a road full of pot holes and be filmed saying (in his Scottish accent), “Och, Ahm stonding heyar in the muddle of the rood, an’ the Cooncil dinna seem to be dooon anthing aboot it”.
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And yet, in the words of the infamous Dave Barry…the United Nations does nothing.
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It is simple really, isn’t it. Cut through all the excuses and see the real state of affairs.
Point two went a bit light on the Politicians though. Nancy Pelosi wanted her own plane with leather seats. You do not see politicians living in modest homes in the modest areas that the ordinary folk live in. Presidents on $200k pa seem to leave office as millionaires. They ALL feather their own nests with salaries and benefits, superannuations and on-going pensions which they vote for all by themselves, for themselves, but paid for by the taxpayers today, tomorrow and on into 3075. Heck, the children of the average taxpayer is committed.
And if we do not agree? They get voted out with the same fat pensions and benefits. Madoff went to jail where he should be. He should have company.
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