THE WHOLE US ECONOMY IS A PONZI SCHEME!!!!What happens when new borrowers do not incur debt to pay off everyone else's debt? If everyone gets out of debt, the money supply dries up. There would be no more Federal Reserve Notes. Actually, paying off all debt is impossible under our system because there is more debt than there is money. There is no money in the US without a pyramid of debt holding it together.
@theDunedan: One small correction -When you retire, you do not *withdraw* the funds you put in while you were working. Rather, the payments to you come from the "contributions" (read extortion) of the next generation of workers. This is the *definition* of a Ponzi scheme.So much for the New Deal!
@jeffiek"Try not paying a tax. See what happens."You go to jail. That is what happens. This does not make taxation extortion. It makes taxation enforcable. The implication of your statement is the kind of tripe I am talking about when I say you don't understand the nature of government. If you want government, you have to pay for it in taxes. I you want no taxes, you want no government. If you want no government, you have to pay for that too, but you (we all) pay for it as "break down of society."I think libertarians advocate greatly reduced government. Anyone who calls for no taxes whatsoever is not a libertarian. She is an anarchist.
mesogenDec 17, 2008
THE WHOLE US ECONOMY IS A PONZI SCHEME!!!!What happens when new borrowers do not incur debt to pay off everyone else's debt? If everyone gets out of debt, the money supply dries up. There would be no more Federal Reserve Notes. Actually, paying off all debt is impossible under our system because there is more debt than there is money. There is no money in the US without a pyramid of debt holding it together.
Closed AccountDec 18, 2008
Save the Republic, End The FED.Support H.R. 2755. Send a copy of it to your local representatives.endthefed.us
Closed AccountDec 18, 2008
@theDunedan: One small correction -When you retire, you do not *withdraw* the funds you put in while you were working. Rather, the payments to you come from the "contributions" (read extortion) of the next generation of workers. This is the *definition* of a Ponzi scheme.So much for the New Deal!
jeffiekDec 18, 2008
"Anyone who looks at a tax and calls it extortion misunderstands the nature of government"Try not paying a tax. See what happens.
Closed AccountDec 18, 2008
I love Ron Paul like a man can only love another man.
thedunedanDec 18, 2008
@jeffiek"Try not paying a tax. See what happens."You go to jail. That is what happens. This does not make taxation extortion. It makes taxation enforcable. The implication of your statement is the kind of tripe I am talking about when I say you don't understand the nature of government. If you want government, you have to pay for it in taxes. I you want no taxes, you want no government. If you want no government, you have to pay for that too, but you (we all) pay for it as "break down of society."I think libertarians advocate greatly reduced government. Anyone who calls for no taxes whatsoever is not a libertarian. She is an anarchist.