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Author Topic: The way it should be. Dam* the gov  (Read 1374 times)

Offline Eric Bosworth

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Re: The way it should be. Dam* the gov
« Reply #40 on: September 22, 2017, 08:17:01 am »
"People who say it is a good program I ask how many other savings accounts have you opened in the government's name?"
I will be using that one in the future whenever I hear the same. Thanks
Your quite welcome
All political power comes from the barrel of a gun. The communist party must command all the guns; that way, no guns can ever be used to command the party. ---Mao Tse Tung

Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote. ---Benjamin Franklin

Offline kathyp

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Re: The way it should be. Dam* the gov
« Reply #41 on: September 22, 2017, 11:28:09 am »
I am always amused when I hear liberal billionaires say "tax me more", but when they look for a place to put their money, they put it in tax-exempt foundations.  If they really believed the government was the best place to invest, they'd write a check to the IRS and let the government use the money for....good.
They are so divorced from their own interests that even when their own security and that of their children is finally compromised, they do not seek to avert the danger themselves but cross their arms and wait for the nation as a whole to come to their aid. Yet as utterly as they sacrifice their own free will, they are no fonder of obedience than anyone else. They submit, it is true, to the whims of a clerk, but no sooner is force removed than they are glad to defy the law as a defeated enemy. Thus one finds them ever wavering between servitude and license.
Alexis de Tocqueville

Online Dallasbeek

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Re: The way it should be. Dam* the gov
« Reply #42 on: September 22, 2017, 01:31:53 pm »
One big difference between Social Security and insurance is that insurance companied are required by law to maintain reserves.  Reserves are defined as:
A stated amount or percent of liquid assets that an insurer must have on hand that will satisfy all claims from in-force insurance policies and other outstanding liabilities. Reserve limits are established by state regulatory agencies which calculate reserves as a percent of the total present value of in-force insurance less the present value of future premiums to be received plus interest.

Some states' insurance regulators are very strict, while others are pretty loose on enforcement of the laws.  One horror story I heard about involved an insurance company that bought some land in Arizona, which was a legal use of reserves, called it a gold mine, moved some dirt around to comply with laws on development, paid for moving the dirt by a company owned by officers of the company, then sold the "gold mine" to another insurance company controlled by the same officers, and on and on, then walked away with a fortune, leaving a new slate of officers with reserves that looked good on paper as reserves. 

I think this is basically what the government has done with Social Security.  It has the "reserves" held in a "lock box" (where did we hear that?) that contains the deed to a "gold mine" in Arizona that's nothing but a few acres of dirt.  The "insurance commissioner" (politicians) is happy and blind to the situation.  How about you guys?  Are you happy with having a share of a "gold mine" in Arizona?
"Liberty lives in the hearts of men and women; when it dies there, no constitution, no laws, no court can save it." - Judge Learned Hand, 1944

Offline gww

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Re: The way it should be. Dam* the gov
« Reply #43 on: September 22, 2017, 02:21:46 pm »
I think the savings and loan bail out during the bush senior administration was in part due to the same land speculation and the inflating the price and taking out loans to buy.  But that time the land was increasing so fast due to oil well speculation.  I saw in missouri that a guy bought a federal building for a couple hundred thousand and sold it back to the postal sevice for 3.5 million and he bought it and sold it and all the paper work was done on the same day.  You would not believe how many big shots in the auto industry were sold parts of the auto industery and than selling back to that same industery at a premium.

I would like to buy a hundred thousand dollar piece of property and sell it for a million to someone that can get a laon for a million on my hundred thousand piece of property.  I would care less if he pays back his loan after he got it.  I might even give him a garrentee of a couple hundred thousand to make him feel better when his credit rating is hurt a little but only if it wasn't eventually picked up by the tax payers.  Aw heck, I will even go ahead and garrentee it even if the tax payers pick it up.