Rush Limbaugh justifiably went nuts discussing this ridiculous article in USA Today.

Is Social Security an investment Ponzi scheme?

This moron, Matt Krantz, and his consultants admit that the Social Security system is a failure, but they claim that it doesn’t meet the technical definition of a Ponzi Scheme.

“Social Security is not a Ponzi scheme because it wasn’t an intentional fraud, he says.”

This is insane.  Our rulers routinely set up programs that can’t possibly work out properly, knowing full well that they will be dead by the time the fraud is discovered. Social Security, Medicare, and ObamaCare are just a few of the many multi-trillion dollar boondoggles that cannot possibly work out as promised. 

Good intentions by big government liberals don’t mask the fact that their pie in the sky schemes are built on quicksand and doomed to fail.  I’d say that these are due to either fraud, incompetence or a combination of the two.  For the investors in these schemes (we taxpayers), we are stuck in exactly the same manner as with a private enterprise (Madoff, et al) Ponzi scheme.

Could Simplifying Corporate Taxes Help Save the Economy? – The “Duh” question of the century.

Because the chances of fuel prices going back down to where they were at the beginning of the year are so slim, IRS has take the rare approach of modifying its standard mileage rates mid-year in the following news release.

IRS Increases Mileage Rate to 55.5 Cents per Mile

From Tax Info

It’s unlikely that the 4.5 cents per mile increase will be enough to cover the actual higher fuel costs incurred by most people, so it’s even more important to keep track of actual vehicle expenses. 

This is only going to get worse if 0Bambi and his fellow travelers succeed in their plans to make gas cost eight to ten dollars per gallon.

Why 70% Tax Rates Won’t Work – A reminder that lower marginal tax rates result in more tax revenue. This falls on deaf ears with Marxists who insist on high confiscatory tax rates for the sake of having ultimate power over as much of everyone’s money as possible.

Your household’s share of unfunded obligations: $527,000

From Blog Comix

Here is a good review of the insane and idiotic Alternative Minimum Tax, which was originally designed to nail 155 wealthy taxpayers and now hits around 4.5 million people who claim too many deductions. 

While most of our rulers acknowledge that this tax has gotten completely out of control and is immorally unfair, they can’t bear to part with the money it generates.  For politicians, money for their pet projects is more important than fairness, and they will take it any way they can get it.