Posted by taxguru on January 5, 2009
Why We Keep Falling for Financial Scams – Interesting look at Ponzi and other types of scams that people fall for.
It should be noted, in the comparisons between Madoff’s Ponzi scheme and the Federal government’s Social Security Ponzi scheme, that “free market” scammers have to be more creative in order to lure in saps voluntarily. The Feds don’t have to convince anyone that Social Security is a good investment because they have the power to have the IRS stick guns in our faces and force us to pay into their financially insane scheme.
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Tax Guru - Ker$tetter Letter 