Today's Quote
"When Ben Franklin said the only guarantees in life are death and taxes, he got it only half right. In postwar America, death lets each generation pass the generational buck. Each generation leaves much of its fair share of taxes for generations to pay.
"In taking from the young and giving to the old, year after year, decade after decade, in ever larger sums, Uncle Sam has, as indicated, run a massive Ponzi scheme. And he has sold his chain letter to the young with reassuring words that a Bernie Madoff might use: "Not to worry. Every dollar you hand over now in 'taxes' (wink, wink) will be repaid many times over when you hit retirement and collect the terrific benefits I've promised you."
~ Laurence J. Kotlikoff and Scott Burns, page 29, "The Class of Generations: Saving Ourselves, Our Kids, and Our Economy"