BERNIE MADOFF | SOCIAL SECURITY |
Takes money from investors with the promise that the money will be invested and made available to them later. | Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" (Lock Box) and made available to them later. |
Instead of investing the money Madoff spends it on nice homes in the Hamptons and yachts. | Instead of depositing money in a Trust Fund the politicians grab it for their General Fund and use it for general spending and vote buying. |
When the time comes to pay the investors back Madoff simply uses funds from newer investors to pay back the earlier ones. | When benefits for older investors become due the politicians pay them with money taken from younger and newer wage earners to pay the older geezers. |
When Madoff's scheme is discovered all hell breaks loose. New investors won't give him any more cash. Scheme collapses. | When Social Security runs out of money the politicians, cut benefits, force the taxpayers to send them more, and keep taking more for themselves. |
Bernie Madoff goes to jail. | Politicians remain in Washington . . . with fat paychecks, expense accounts, and medical and retirement benefits. |
"Government is not reason; it is not eloquence; it is force! Like fire, it is a dangerous servant, and a fearful master." . . . George Washington
Friday, August 5, 2011
Side-By-Side Comparison of Two Ponzi Schemes
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