Wealth and Income Inequality Crisis!
February 15, 2017 Emailed to WSJ/NYT/DMN on 2/16/17
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains how the U.S. Government is using a fraudulent fiscal policy and accounting system that has introduced a dramatic wealth and income inequality crisis between the U.S. upper class and the U.S. Common Man.
Wealth and Income Inequality Crisis!
February 15, 2017
Cherry coke, hamburger, and fries!
The U.S. Government is corrupt and The Senior Members of the U.S. Government are Criminals. The U.S. Government is operating with a Ponzi scheme fiscal policy that is borrowing monopoly money from the future Americans and giving it to the current Americans. The U.S. Government tries to conceal the magnitude of this fraudulent borrowing by using a fraudulent accounting system. The U.S. Government is operating with Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles).
This U.S. Government fraud is printing imaginary-counterfeit money with GAAP basis deficit spending, $105.1 Trillion to date and $15.42 Billion every day, that is being channeled to the U.S. upper class by making false U.S. Government benefit promises to the U.S. Common Man and then not properly funding these promises. For the 48 years since the Ponzi scheme was launched in FY1969, the U.S. upper class has been dramatically undertaxed because they have not paid for the cash basis deficit spending of the U.S. Government or for the future benefit promises that the U.S. Government has made to the U.S. citizenry. This has dramatically enhanced the wealth and income of the U.S. upper class by undertaxing them by $105.1 Trillion but has put the U.S. Common Man into a coming financial crisis because the U.S. Government has not collected the money to pay the future benefit promises of the U.S. Government.
This U.S. Government fraud has dramatically enriched the U.S. upper class by giving them $105.1 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans with GAAP basis deficit spending.
This U.S. Government fraud has dramatically cheated the U.S. Common Man by making false and unaffordable U.S. Government benefit promises and then underfunding these promises by $85.1 Trillion.
This fiscal policy has, undertaxed the U.S. upper class by $105.1 Trillion (US Unfunded Liabilities (GAAP)), underfunded the future benefit promises by $85.1 Trillion (US Unfunded Future Liabilities), and has overpaid the U.S. ruling class by $20.0 Trillion (National Debt).
This U.S. Government fraud, if continued, is destined to give the U.S. upper class infinite wealth and income while the U.S. Common Man continues to work for relative static wages and income (See Two Classes of People/Two Kinds of Money). The U.S. Common Man works for real money while the U.S. upper class gains an ever-increasing amount of imaginary money produced by this U.S. Government fraud/Ponzi scheme.
Cherry coke, hamburger, and fries.
I think this wealth and income inequality can be explained best by looking at how Warren Buffett and a construction worker pay for their lunch. The construction worker typically starts the month with nothing in his pocket, pays about an hour's wage for his lunch, and at the end of the month still has nothing in his pocket. Warren Buffett starts the month with $70 Billion in his pocket, makes $9 Million that day because of this U.S. Government fraud, and at the end of the month has $70 Billion $270 Million in his pocket. But they both had a cherry coke, a hamburger, and fries for lunch. Warren Buffett has this for lunch almost every day and has ZERO concern about what his lunch costs.
Who do you think worked harder that day for their lunch! But the construction worker used real money to buy his lunch and Warren used mostly imaginary-counterfeit money produced out of "thin air" by USAPonzi to buy his lunch even though it was only about $10 (See Two Classes of People-Two Kinds of Money).
When the U.S. Government borrows $15.42 Billion of imaginary-counterfeit money every day from the future Americans and gives almost all of it to the U.S. upper class by undertaxing them, we are going to have wealth and income inequality. Okay I know this is the extreme scenario, but this is what happens when the U.S. Government dramatically favors the U.S. upper class over the Common Man like they have been doing for the last 48 years by committing fiscal and accounting fraud.
This wealth and income inequality will continue to expand until USAPonzi implodes and the inflation produced by this Ponzi scheme means that the working man/woman and the U.S. Government benefit recipients will have less and less money on a relative basis to pay for their cost of living.
This Ponzi scheme is great for the U.S. upper class, but it is hell for the U.S. Common Man. When the U.S. Government is playing favorites by giving $105.1 Trillion to the U.S. upper class and shortchanging the U.S. Common Man by $85.1 Trillion, it is bound to cause conflict (See Enriching the Upper Class/Cheating the Common Man). And the wealth and income gap is widening every single day!!!
The U.S. Common Man faces a triple crisis: 1) they are counting on government benefits that have not been funded, 2) their wages, while inflating, do not keep pace with the inflation rate induced by this Ponzi scheme, and 3) many have difficulty finding a decent paying job because the cost of operating in the U.S. is unaffordable for many businesses because of the wage inflation that is being induced in the U.S. by USAPonzi.
Meanwhile the U.S. upper class gets richer and richer as the U.S. Government undertaxes them and prints more and more imaginary-counterfeit money with GAAP basis deficit spending so the U.S. upper class does not have a big problem with the asset and consumer price inflation produced by USAPonzi.
The U.S. Government must fix this inequality by properly balancing the U.S. Government budget.
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|| $85.1 Trillion
|US Unfunded Liabilities (GAAP)
|| $105.1 Trillion
| Total National Assets
Source: www.usdebtclock.org February 15, 2017
This U.S. Government fiscal and accounting fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
I have published another website www.usaponzi.net that I think better explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans.
This fraud is explained in CliffsNotes format (USAPonzi CliffsNotes) and is also explained in much more detail on my website www.usaponzi.com and in my book “USAPonzi” which is available on Amazon in Kindle and Paperback formats and on my website in PDF format.
This is the biggest ($105.1 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!
John W. White