By Robert Folsom
Picture a nice home in a nice neighborhood. Two men in dark suits walk up and knock on the nice home.
Men: Hello, we're from the government, and we’re here to help. We're going to rob you for your own good.
Taxpayer: What are you talking about?!! I don't want to be robbed...
Men: Sir, we understand. But our records indicate that you are a taxpayer. Is that correct?
Taxpayer: Of course I pay taxes -- so what?
Men: So, we're robbing you. It really is for your own good. In fact, if we don't rob you, the entire banking system will collapse. You have heard the bad news about the big banking bailout, haven't you sir?
Taxpayer: Look, I don't even have very much money in the bank. Lots of people have a lot more money than I do. Why don't you go rob them?
Men: There's no need to make this about you, sir. We are going to rob everyone who pays taxes -- trust me.
Taxpayer: This isn't right. I've played by the rules for years. This is America.
Men: It is indeed, sir. And we're from the American government. And c'mon, sir -- are we supposed to believe that you never took out a sub prime loan, never leveraged your home equity into a second and third mortgage, never maxed out four separate credit cards at once, never tried to buy and flip a couple of houses for a fast buck, or that you never speculated even a little bit in the commodities market with your retirement fund?
Taxpayer: No, no, no -- I didn't do any of that stuff. Of course I've got a retirement account, it's in Treasuries, money markets and a stock index fund. I've got two kids in college. I can't afford to get robbed.
Men: We're not here to congratulate you for being a straight arrow, sir. We've come to rob you for your own good. Resistance is futile. Maybe next time you'll go along and raid the candy store when you get the chance. Lots of people did. That's pretty much why we're here to rob you -- for your own good, of course.
Taxpayer: Okay, okay... but... well, if I stop paying taxes? Will you please not rob me then?
Men: That's not a good idea, sir. If you stop paying taxes we'll throw you in jail and rob you anyway.
Taxpayer: This sucks. I'm calling a lawyer.
Men: Yes sir, I'm sure he's a taxpayer too. Let him know that if we haven't been to his house already, we will be soon.
"By manipulating the rules and its own debt-based, monopoly currency to shift the burden of debts and speculation upon the prudent and innocent, the government can foster illusions of maintained value by keeping nominal stock prices up. But this charade cannot last"
______________________________________
Commercial and investment banks were totally reckless and should be left holding the bag for the bad loans they made. Goldman Sachs, Morgan Stanley, Merrill Lynch, Bear Sterns and Lehman Brothers, to name five of those firms making the headlines now, increased their leverage limits from 12 to 1 to as much as 40 to 1 and now they are relying on us, the tax payers, to bail them out. I have a four letter word for them and most certainly is not HELP.
HZ
Men: Hello, we're from the government, and we’re here to help. We're going to rob you for your own good.
Taxpayer: What are you talking about?!! I don't want to be robbed...
Men: Sir, we understand. But our records indicate that you are a taxpayer. Is that correct?
Taxpayer: Of course I pay taxes -- so what?
Men: So, we're robbing you. It really is for your own good. In fact, if we don't rob you, the entire banking system will collapse. You have heard the bad news about the big banking bailout, haven't you sir?
Taxpayer: Look, I don't even have very much money in the bank. Lots of people have a lot more money than I do. Why don't you go rob them?
Men: There's no need to make this about you, sir. We are going to rob everyone who pays taxes -- trust me.
Taxpayer: This isn't right. I've played by the rules for years. This is America.
Men: It is indeed, sir. And we're from the American government. And c'mon, sir -- are we supposed to believe that you never took out a sub prime loan, never leveraged your home equity into a second and third mortgage, never maxed out four separate credit cards at once, never tried to buy and flip a couple of houses for a fast buck, or that you never speculated even a little bit in the commodities market with your retirement fund?
Taxpayer: No, no, no -- I didn't do any of that stuff. Of course I've got a retirement account, it's in Treasuries, money markets and a stock index fund. I've got two kids in college. I can't afford to get robbed.
Men: We're not here to congratulate you for being a straight arrow, sir. We've come to rob you for your own good. Resistance is futile. Maybe next time you'll go along and raid the candy store when you get the chance. Lots of people did. That's pretty much why we're here to rob you -- for your own good, of course.
Taxpayer: Okay, okay... but... well, if I stop paying taxes? Will you please not rob me then?
Men: That's not a good idea, sir. If you stop paying taxes we'll throw you in jail and rob you anyway.
Taxpayer: This sucks. I'm calling a lawyer.
Men: Yes sir, I'm sure he's a taxpayer too. Let him know that if we haven't been to his house already, we will be soon.
"By manipulating the rules and its own debt-based, monopoly currency to shift the burden of debts and speculation upon the prudent and innocent, the government can foster illusions of maintained value by keeping nominal stock prices up. But this charade cannot last"
______________________________________
Commercial and investment banks were totally reckless and should be left holding the bag for the bad loans they made. Goldman Sachs, Morgan Stanley, Merrill Lynch, Bear Sterns and Lehman Brothers, to name five of those firms making the headlines now, increased their leverage limits from 12 to 1 to as much as 40 to 1 and now they are relying on us, the tax payers, to bail them out. I have a four letter word for them and most certainly is not HELP.
HZ
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