-Caveat Lector-
WHAT DID ENRON DO
THAT THE FEDS HAVEN'T DONE, IN
SPADES???
By: Ed
Henry
For years, the federal government has played around with
the simplest of problems�reforming Social Security. All
they've ever had to do is
stop stealing the money, but they've had no reason to
stop and the booty is enormous. Last year alone, they stole
$98.7 billion from Social
Security "surplus" payroll tax payments.
Now, this same government acts surprised when a private
energy company has been exposed using much the same
tactics, even talking
about "on budget" accounting and shredding documents. Who
is the real culprit here? Who's the teacher, and who the
student?
Enron falsified statements of their revenue and profits causing their stock to rise.
Compare that
with the falsehoods of paying down the
national debt. Who is telling the bigger lie?
The president of Enron encouraged his employees to hold onto stocks that they held
in 401-K accou
nts, causing them to eventually lose
everything when the stocks fell to practically nothing.
Compare that to presidents and politicians who have been telling American workers,
141 million of
them, that their "surplus" payroll tax
payments have been stored safely in trust funds. Trust funds that the Secretary of
the Treasury t
ells us have no money, no positive assets, and
amount to nothing more than markers to pay the same taxes again someday�double
taxation, plain an
d simple. The Pay-It-Again, Sam
scam.
Who is committing the greater crime here? Who's calling the kettle black? Worst of
all, who is go
ing to hold the other accountable?
Enron employees who lost everything are better off than workers who must pay the
same tax again,
plus interest.
Each year that the federal government steals retirement, health care, and other
money for service
s you are "entitled" to (that's what
entitlement means), and spends that money elsewhere (it's the only way they can
afford their pork
)�America's workers have lost that
money. It's gone forever. They are in exactly the same position as Enron's people.
But when these same workers (or their children) are forced to repay that money again
someday plus
interest�then they are more than twice
as bad off as Enron's people. The government, through its con game, put them more
than 100 percen
t in the hole. Nobody has really
calculated the "magic of compound interest" in this debt accounting, but it's at
least 130 percen
t worse than Enron's con.
Who is going to judge whom? Unfortunately, Enron employees were also paying payroll
tax overcharg
es, so they got it from both sets of
crooks. And the beat goes on�and on�and on�until the victims do something about it.
Too bad America's workers are not given the choice or chance to sell off their
payroll tax overch
arges.
Please read Daniel Sargis' article on the same subject. It's excellent.
Mail this article to a friend(s) in two clicks!
Ed Henry is the founder of TUFF, the Taxpayers Union, and a regular columnist for
Ether Zone.
Ed Henry can be reached at [EMAIL PROTECTED]
Ed's new book, "Rip Off" is now available... check it out here!.
We also invite you to visit his websites at www.get-tuff.com and www.poop.org
Published in the January 30, 2002 issue of Ether Zone.
Copyright � 1997 - 2002 Ether Zone.
We invite your comments on this article in our forum!
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