-Caveat Lector- MJ wrote: >>In the United States money does not trickle down from the government. It flows upward from the private sector. In a market economy, individuals and corporations earn money by producing goods which uncoerced consumers will purchase. More important, in democratic societies that respect human rights, the government has no prior claim to what people earn by their honest labors. There was, however, a system which maintained such a claim. It went by such names as feudalism, slavery, and totalitarianism.<< Ideally, the role of government in a market economy would be to finance industry that would benefit the "common weal" by encouraging the populace to save through purchasing government bonds that are tax-exempt. The bonds would be paid off by tax money, and the public would be able to create needed infrastructure for the entire community. But what has happened to keep the ideal vision from happening? Bond traders like Stephens, Inc.--seeing an opportunity for double profits--have stepped in to finance political campaigns and entice the sponsored elected officials to send municipal bond business to them. They talk the officials into building new stadiums, courthouses, bridges, etc. by setting up quasi-governmental entities with legislative authority to issue tax-exempt bonds. They get the bonds approved by the state's attorney general who is required by law to review the bonds to make sure that the quasi-governmental entity is completely separate from the county or city which sponsors the entity under specially passed legislation. That means if the entity doesn't receive enough revenue to pay off the bonds, the asset itself can be taken by the bondholders, but the taxpayers won't suffer any other loss. The bond traders win both ways. Their friends are allowed to purchase tax-free bonds at the bottom price and receive guaranteed income that is not taxed. They have also tried to say that the quasi-governmental entity is not technically "government" and therefore not subject to open meetings or open records statutes that exist in most states--or to competitive bidding requirements. That would allow them to hire the corporations set up by their friends to do the design and construction work for the facility and thus evade the law to protect consumers and taxpayers. The bonds are then sold to public mutual fund companies like PaineWebber (a favorite of Stephens, Inc.) with money collected from pension funds and other savings for long-term investment. If the bonds default, then, it's the pensioners who lose their shirts. But the majority shareholders of the fund (usually a 5% interest will control) would end up controlling the quasi-governmental facility in the event of default. So the potential is there for these "people" to own most of the public infrastructure in this country because of their scheme in financing the construction. The only way to know what's going on is to be aware of way the plan works, then go to commissioner's court meetings and watch what happens. Noboby really has the time to do that, and even the people involved in day-to-day activities of county government don't believe in conspiracies, so they don't even understand the danger of what will happen if the economy turns bad. MJ said: >>You the producer will, on your own initiative and with your own capital, work hard to turn a profit. We, the government, will impede you with regulations and confiscate ever-increasing amounts of your income. With what we confiscate, we will first take care of the needs of the state, but hopefully some of that money will trickle down to those we determine to be needy victims. Ironically, if you follow this model the cliché is true. The trickle-down theory is the source of our economic problems.<< The truth is the biggest part of the government income goes to pay interest and charges to the same companies and their attorneys which sell these bonds in the first place. And it goes to the New York banks which issue them. The present-day bonds are not much different from the bonds that existed at the turn of the century when the British and Dutch investors bought the bonds of the Scottish investment bankers who financed many of the railroads and power plants in our young country. When someone who extols Cato blames the government for succumbing to the enticements of these financiers, it reminds me of the people who financed Hitler blaming the Jews for all the problems of the world. Don't fall for this treachery. Follow the money to its source! Linda DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance—not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credeence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
