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John Lloyd Scharf wrote on Feb 18, 2009 11:12 AM:
National Ponzi Scheme - Recovery.Gov - ARRA - Stimulus Plan -
The $787 billion American Recovery and Reinvestment Act (ARRA) is an extention of the National Debt by $2580 for every man, woman, and child.
Of that, President Obama claims $288 billion is "Tax Relief," or $944 per person. Then, he claims the "Tax Relief" includes $15 billion for infrastructure and science, $61 billion for "protecting the vulnerable," $25 billion for education and training, and $22 billion for "Energy."
So, after all those special tax cut programs are removed, that leaves $165 billion of more general "Tax Relief," for all of us not in those categories, or $540 per person. So, you are going into debt for investing $2580 for $540 in tax relief.
A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from profit. Is the ARRA any less of a Ponzi Scheme when the Federal Government does this than when Charles Ponzi or Bernard Madoff does this? Does it matter whether Nicolas Cosmo, Allen Stanford, or Barack Obama does this?
http://theprogressivecapitalist.blogspot.com/
The $787 billion American Recovery and Reinvestment Act (ARRA) is an extention of the National Debt by $2580 for every man, woman, and child.
Of that, President Obama claims $288 billion is "Tax Relief," or $944 per person. Then, he claims the "Tax Relief" includes $15 billion for infrastructure and science, $61 billion for "protecting the vulnerable," $25 billion for education and training, and $22 billion for "Energy."
So, after all those special tax cut programs are removed, that leaves $165 billion of more general "Tax Relief," for all of us not in those categories, or $540 per person. So, you are going into debt for investing $2580 for $540 in tax relief.
A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors rather than from profit. Is the ARRA any less of a Ponzi Scheme when the Federal Government does this than when Charles Ponzi or Bernard Madoff does this? Does it matter whether Nicolas Cosmo, Allen Stanford, or Barack Obama does this?
http://theprogressivecapitalist.blogspot.com/
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