The U.S. citizens must demand (at the ballot box) that anyone they elect as President or to Congress take a pledge to fix the U.S. Government's accounting system so that it stops favoring the "ruling class" and the "1%ers" and offers a level playing field for the "99%ers" and the rest of the world.
The voters must demand that the Government officials stop using this corrupt and fraudulent Cash Accounting and start using an accounting system that can give assurances that "promises made can be promises kept".
This means adopting GAAP Accounting principles (accrual accounting) and requiring that the U.S. Government adopt a balanced budget amendment to the Constitution.
The current accounting system has created $98.1 Trillion of counterfeit money (this money is backed only by the future taxpayer who will never be able to pay it back) that has been largely given to the wealthy but it is also paying the salaries of more direct and indirect government employees than we can afford and paying many Government officials and Government employees more than we can afford to be paying them.
The U.S. Government is the culprit in this Ponzi scheme. It is not the wealthy that is creating the problem even though they do lobby for more tax breaks and they will often use a portion of their counterfeit gains to support the election of their favorite Government officials. It is the U.S. Government that is setting the fiscal policy that uses this corrupt and fraudulent accounting system that undertaxes the wealthy and refuses to fund the social benefit promises.
The wealthy, which by the way includes many of the government officials themselves, are the major beneficiaries of USAPonzi since they do not have to pay the taxes. For example, Warren Buffett has a net worth of $65.2 Billion and $55.9 Billion of that is because he did not have to pay the taxes over the last 46 years that GAAP Accounting would have stipulated (see The Buffett Investing Genius Magnified). Yes, that's what I meant to say; 86% of Warren Buffett's net worth comes from counterfeit money that was created out of thin air by USAPonzi. That's why he agrees that he should be paying more taxes. That's why he has agreed to give away half of his net worth.
Warren Buffett did not cause this distortion, he just benefited from the corrupt and fraudulent accounting by the U.S. Government. However, Warren Buffett has known exactly what was happening with this improper accounting since 1975 when he sent a 21 page letter to the CEO of "The Washington Post" explaining, in great detail, the consequences of this very problem (see Buffett on Pensions). Many, maybe even most, of the "1%ers" know about this Ponzi scheme but they, like Warren Buffett, choose to keep quiet about the scheme because it appears to make them 7X richer, at least for now.
The Government officials and employees like the current policy since they are getting handsomely paid by the counterfeit money that USAPonzi is creating.
The wealthy citizens and businesses like the current policy because it is appearing to make them rich because they do not have to pay the taxes to finance the social benefits and as a result they appear to be 7X richer than they would be with proper accounting and a balanced budget.
And the common man gets left holding a bag full of empty promises.
The U.S. Government officials, by operating USAPonzi, are taking care of themselves and their rich friends while financially ignoring the common man, the very people that they are purporting to help with these social benefit programs.
USAPonzi's $98.1 Trillion of Counterfeit Money
But the real problem is that USAPonzi is only appearing to make the wealthy this wealthy. We now have $98.1 Trillion of counterfeit money that has been created "out of thin air" by USAPonzi that is now floating around the planet. This counterfeit money will evaporate when USAPonzi implodes and everybody will be caught up in a financial crisis of epic proportions. This USAPonzi counterfeit money will vanish "into the thin air from whence it came" much like the equity in Enron vanished when the Enron Fraud was exposed (see Enron on Steroids!).
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