Mark Zuckerberg's Charitable Giving
December 1, 2015
As Posted on www.usaponzi.com
I found Mark Zucherberg's (founder of Facebook) charitable giving announcement today to be very interesting. He announced that he and his wife will be donating 99% of their $45 Billion net worth to charity. This is obviosly a very magnanimous gift and they are to be commended for making this commitment. Warren Buffett and Bill Gates have also made similar huge charitable gift commitments.
However, these gifts are only possible at these dollar amounts because of the Ponzi scheme fiscal policy of the U.S. Government. The U.S. Government is creating counterfeit money with this Ponzi scheme that will evaporate when this Ponzi scheme implodes. www.usdebtclock.org shows that we have U.S. private net worth of $118.8 Trillion, reported as US Total Assets, and U.S. public liabilities of $100.3 Trillion reported as US Unfunded Liablities (GAAP).
The upper class U.S. citizens and businesses are getting super wealthy simply because the U.S. Government is not collecting the taxes required to pay for its spending and committing. The rich are getting richer because the U.S. Government is incurring massive GAAP basis deficit spending and we have incurred GAAP basis deficit spending to date of $100.3 Trillion and are projected to have total GAAP basis deficit spending of $5.86 Trillion in FY2016.
The U.S. Government is creating private net worth by assuming public liabilities. The U.S. Government is using "smoke and mirrors" in an attempt to make us look wealthy and prosperous. This counterfeit wealth is being created "out of thin air" at an exponentially increasing rate simply by undertaxing the current U.S. taxpayers.
Zuckerberg, Buffett, Gates, and all other upper class citizens and businesses are appearing to get richer and richer because of a corrupt and fraudulent U.S. Government and its USAPonzi fiscal policy.
84.4% of U.S. private net worth is counterfeit money because the U.S. Government did not collect the taxes necessary to pay for the National Debt and the money required to pay for the social benefits, pensions, and veteran's benefits commitments that the U.S. Government has made.
Private net worth = US Total Assets = $118.8 Trillion
Public liabilities = US Unfunded Liabilities (GAAP) = $100.3 Trillion = counterfeit money
counterfeit money % Private net worth = $100.3T/$118.8T = 0.844
This $100.3 Trillion of counterfeit money will evaporate when USAPonzi implodes.
These guys need to be sure that their charitable giving commitments are made in number of shares rather than number of dollars. They don't really have as many dollars as they appear to have. They appear to be 6 times as rich as they really are.
The rich are getting richer because the U.S. Government is massively undertaxing them creating this counterfeit money.
U.S. Government fraud and corruption is overpaying the social beneift recipients, overpaying the ruling class, undertaxing the upper class, while cheating the Common Man by not funding the future benefit promises.
The financial data presented in this commentary was sourced from www.usdebtclock.org as of December 1, 2015.