Why is what Madoff did illegal?

[Willie99]

Our government has been doing it since the advent of the "New Deal".

It's called Social Security.

In all seriousness, that's no joke.

 

[snoop]

I agreed. I don't know why the hell I have to keep paying SS tax knowing that there won't be a fucking penny left when I retire.

We should get rid of this fucking corrupted system.

 

[fletchisrhsm]

Our government has been doing it since the advent of the "New Deal".

It's called Social Security.

In all seriousness, that's no joke.

Willie, you sure you want to go down this road? You entering Kook territory here.

First of all, why the government borrows money form a private bank at INTEREST is unconstitutional in the first place. Secondly why would the government have to borrow its own money at interest from a quasi government agency? Third(ly), the income tax they levy is unconstitutional as its an unapportioned direct tax directly violating the Constitution. So, in essence, your right.... its no different.

 

[punter]

Willie, you sure you want to go down this road? You entering Kook territory here.

First of all, why the government borrows money form a private bank at INTEREST is unconstitutional in the first place. Secondly why would the government have to borrow its own money at interest from a quasi government agency? Third(ly), the income tax they levy is unconstitutional as its an unapportioned direct tax directly violating the Constitution. So, in essence, your right.... its no different.

I like that phrase "Kook territory", but I think you should modify it to "Kook kountry" and it would fit in many conversations around here.

 

[Willie99]

Willie, you sure you want to go down this road? You entering Kook territory here.

First of all, why the government borrows money form a private bank at INTEREST is unconstitutional in the first place. Secondly why would the government have to borrow its own money at interest from a quasi government agency? Third(ly), the income tax they levy is unconstitutional as its an unapportioned direct tax directly violating the Constitution. So, in essence, your right.... its no different.

Fletch, you got the Kook territory part right, that's exactly where you went.

You and Alex Jones and Prison Planet are in total agreement. OB Wan Paul is wrong too about these "Constitutional" arguments.

You do know my argument was about debits and credits, black and white, undeniable truths, while your constitutional arguments are based on bullshit, interpretations and half truths, right?

 

[quantumleap]

Because if the government does it, it's not illegal. But if a private person does it, it is.

 

[ScottL]

I'm sure Willie's post was made tongue-in-cheek, but....Not only is what this guy did illegal, it's unconscionable. He has hurt SO MANY PEOPLE, including someone I know who has done so much good in the world for an amount of money that would stand your hair straight up. I hope MadeOFF burns in Hell!

 

[DeathEatsaCracker]

Because if the government does it, it's not illegal. But if a private person does it, it is.

I agree with this post.

Sincerely,

 

[Presto]

Simply put, the govt. frowns on competition.

 

[barman]

I started hearing the "By the time I retire, there will be no SS payments" smak from people in their 40s and 50s when I was in college in 1980.

29 years later, they're still paying reliably to tens of millions of Americans every single month.

And for a large percentage of folks, it has nothing to do with retirement, but rather - disabilities.

 

[Willie99]

I started hearing the "By the time I retire, there will be no SS payments" smak from people in their 40s and 50s when I was in college in 1980.

29 years later, they're still paying reliably to tens of millions of Americans every single month.

And for a large percentage of folks, it has nothing to do with retirement, but rather - disabilities.

as long as their is growth my friend, the Ponzi Scheme ticks on and on.

There will be significant social security reform in our lifetime, there really is no choice.

define "large percentage"

 

[barman]

In the context of my last post

"large percentage" = A much higher percentage than most people would guess if asked, "What percentage of SS payouts are for retirement bennies and what percentage are for disabilities?"



aka...I don't really know....heh

 

[barman]

Would add that Medicare payouts are included under SS payouts....So it's doing a lot more than just retirement bennies, though I read that the latter still make up the largest percentage of paid bennies (via Wikipedia)

 

[Coldweather]

Our Government should give the money to the people so they can eat and be warm when they get old and can't work. They should also give them a place to live so they don't live out in the streets and get sick. This is just my opinion on this here matter.

:cripwalk::cripwalk::cripwalk::toast:

 

[Willie99]

Our Government should give the money to the people so they can eat and be warm when they get old and can't work. They should also give them a place to live so they don't live out in the streets and get sick. This is just my opinion on this here matter.

:cripwalk::cripwalk::cripwalk::toast:

with the money our government takes from these people to fund such programs, the people should be receiving much more bigger benefits.

Instead, the Ponzi scheme is further in debt than the government's "recorded debts", and there is nothing put IOUs in the "Trust Fund".

Actually, that "trust fund" term is kinda funny.

 

[fletchisrhsm]

Fletch, you got the Kook territory part right, that's exactly where you went.

You and Alex Jones and Prison Planet are in total agreement. OB Wan Paul is wrong too about these "Constitutional" arguments.

You do know my argument was about debits and credits, black and white, undeniable truths, while your constitutional arguments are based on bullshit, interpretations and half truths, right?

:nohead:

Says the guy whos livelihood depends on this perpetual ridiculous scam. You can not pick and choose what government sponsored fraud is best, when all are equally deplorable. At least Willie as a financial adviser, you would still be able to bring home the bacon.... so stop the hypocrisy while you can. Ranting about one ponzi scheme while fully participating in another scam is laughable. But hey, you did vote for McCain - but wanted Huckabee. Now that is what i call fiscal conservatism!!!

hno: :lol:

PS: Who is ranked Number #1 right now in college hoops? I seem to be drawing a blank????

 

[quantumleap]

Our government has been doing it since the advent of the "New Deal".

It's called Social Security.

In all seriousness, that's no joke.

Seriously though, the debt that the US incurs is backed by the net worth of the country itself. So far it hasn't reached the estimated $60+ trillion. Madoff didn't have the amount of net worth to pay off everyone if they all wanted their money at one time. That never happens so he was able to continue the fraud.

 

[Willie99]

:nohead:

Says the guy whos livelihood depends on this perpetual ridiculous scam. You can not pick and choose what government sponsored fraud is best, when all are equally deplorable. At least Willie as a financial adviser, you would still be able to bring home the bacon.... so stop the hypocrisy while you can. Ranting about one ponzi scheme while fully participating in another scam is laughable. But hey, you did vote for McCain - but wanted Huckabee. Now that is what i call fiscal conservatism!!!

hno: :lol:

PS: Who is ranked Number #1 right now in college hoops? I seem to be drawing a blank????

My livelihood does not depend on the social security system, not at all. As for the income tax system, it's a ridiculous political pawn, but the method the government chooses to raise revenues is not a Ponzi Scheme. If they abolished the federal tax code, the icing would be gone but the cake, read commercial accounts, would still be there.

I gave you props for that number one ranking in another thread. Enjoy the ride.

As for me, a man who has been there before, I'll take March over January. Stop acting like a baby in the woods. Oh wait, Pitt is a baby in the woods, my bad.

:toast: