Soc. Security -- So Simple a caveman could understand

Discussion in 'General Discussion' started by Quigley_Sharps, Jan 16, 2011.


  1. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    So Simple, A Caveman Could Understand:

    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 Congress has been doing to us for over 70 years with Social Security. There is no meaningful difference between the two schemes, except that one 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 little chart.

    <table style="border-bottom: 1pt solid windowtext; width: 89%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" border="1" cellpadding="0" cellspacing="0" width="89%"> <tbody> <tr> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 47.48%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="47%">
    ]BERNIE MADOFF
    </td> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 52.52%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="52%">
    SOCIAL SECURITY
    </td></tr> <tr> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 47.48%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="47%"> Takes money from investors with the promise that the money will be invested and made available to them later.

    </td> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 52.52%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="52%"> Takes money from wage earners with the promise that the money will be invested in a "Trust Fund" and made available later.

    </td></tr> <tr> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 47.48%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="47%"> ]Instead of investing the money, Madoff spends it on nice homes in the Hamptons and yachts.

    </td> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 52.52%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="52%"> Instead of leaving the money in a Trust Fund, the politicians borrow and use it for general spending and vote buying.

    </td></tr> <tr> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 47.48%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="47%"> []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.

    </td> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 52.52%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="52%"> When benefits for older investors become due, the politicians pay them with money taken from younger and newer wage earners to pay the geezers.

    </td></tr> <tr> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 47.48%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="47%"> When Madoff's scheme is discovered, all hell breaks loose. New investors won't give him any more cash.

    </td> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 52.52%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="52%"> When Social Security runs out of money, they simply force the taxpayers to send them some more.

    </td></tr> <tr> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 47.48%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="47%"> Bernie Madoff is in jail.

    </td> <td style="border-bottom: 1pt solid windowtext; padding: 0in; width: 52.52%; border-top: 1pt solid windowtext; border-right: 1pt solid windowtext;" width="52%"> Politicians remain in Washington

    </td></tr></tbody></table>


    'The taxpayer: That's 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."
     
  2. BTPost

    BTPost Old Fart Snow Monkey Moderator

    ssssssuuuusssscccchhhhh QS, Don't tell everyone, YET... I start collecting mine this summer, and need them to keep putting their MONEY in, SO I can GET MINE OUT....
     
  3. Mountainman

    Mountainman Großes Mitglied Site Supporter+++

    Business as usual at .goob central. Throw all the bums out.
     
  4. VHestin

    VHestin Farm Chick

    Another Madoff/Feds parallel, even after the fraud was discovered, the taxpayers got pay for his trial and subsequent incarceration(so he basically got to rip quite a few people off twice, the second time quite legally), just like the taxpayers have to continue to pay the Feds for not being able to pull their heads out of their butts.
     
  5. Conagher

    Conagher Dark Custom Rider Moderator Emeritus Founding Member

    Great post Quigs....[applaud]
     
  6. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

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