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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

SOME HATE MAIL FOR A FRIDAY

By
Neal Boortz
@ March 13, 2009 8:37 AM
Permalink | Comments (59) | TrackBacks (0)
Name: Robert Pfeiffer
Subject: Madoff Comment

How could you possibly compare the social security system to Madoff as doing the same thing but only the SS is legal. My god you have went too far! With all going on now days your ratings are or must be growing high enough without such a insensitive statement so your in this for the money only to excite listeners. You are a perfect example of how greed has went too far in this world. Have you no real feelings for your fellow man?

This email needs absolutely no commentary from me. More than any other email I can remember ... this one speaks volumes all by itself.



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What others are saying

  • ha
    has went too far? is this trailer park editorializing or what?
  • varies
    What if beneficiaries of embryonic stem cell research had to supply their own embryos? or better yet had to ask their parents to supply one for them. Let's put a face on these embryos.

    When citizens or corporations donate money it is said they are giving back like they are returning something that doesn't belong to them. But last week it was reported that a bunch of money was from the Omnibus package was going to various Kennedy related projects because they have "done so much and given so much to the community". Whose money were they giving? Taxpayer's?
  • "SS is little more than welfare for the elderly."

    Then explain why it is I knew someone in his twenties who received Social Security benefits for his Asperger's, which he claimed prevented him from holding down a job?

    Or the good ol' gentleman I worked with a few years back who didn't retire until his knees literally forced him to.
  • Holy Talking Points
    Wow, that e-mail morphed itself into a totally disjointed liberal talking point. Put "racist" and "greedy" in a hat, shake 'em up, pull one out, and use it to define someone with whom you disagree.
  • Social Security, etc
    Personally, if it were my choice, I wouldn't give Madoff any jail time or any penalty at all. It is your own responsibility to research your investments before tossing your money away. As many has stated, its no different than Social Security, except these people CHOSE to give him their money, where as with SS we are forced to contribute against our will. What Madoff did is more comparable to the lottery; a tax on the stupid, on those who are bad at math, or life in general.

    I am pretty sure that the founding fathers would start the call to revolution against SS far more quickly than they did against the tea tax. I can only hope that when the bloody revolution comes, that I can be a part of it.
  • Geithner's toupe'
    Geithner needs to take that goofy wig off and maybe he'd be taken more seriously.
  • Bernie Madoff comment
    Mr. Pfeiffer is obviously a graduate of our fine government schools...what a semi-literate Bozo!! Madoff deserves life behind bars, and he and his trophy wife should be stripped of every asset that can be found to make at least partial restitution to Madoff's victims. Final thought: the whole Madoff case is the latest example of what an absolute joke the judicial system has become.
  • Robert Pheiffer
    Neal,the saddest thing of all is that this man probably votes.........
  • Uh oh
    Quick, someone turn Barack's teleprompter back on.
  • SS vs Madoff
    Compassion for my fellow man is just fine when the decision to give charity, which I do (though I can't afford it, thanks to the government), is MINE. When it is forced upon me by a coercive government, it is called "theft".
  • Robert Pfeiffer
    This one ranks right up there with
    BOO GOT SHOT, BOO GOT SHOT
  • The concept was great
    Good afternoon, everybody.

    One part of SS was a good idea: the concept and implementation of automatic contributions. The major part that was missing (and still is) is the part that makes it voluntary. I love that about 401ks. Because of automatic contributions, my budget is established and it requires no discipline whatsoever to save money. It requires no effort of my own to select stocks for purchase. There was a day when people could not buy paltry amounts of stock. There were many companies that required that a block of stocks be purchased. Automatic deductions opened up the stock market to people like me. People couldn’t just call a broker and say, “I have a hundred and ten bucks I. Give me one and a half shares of GE this week”. SS should have been replaced by a privatized variation (and I say it was, can you say 401k?) a long time ago. Believe it or not, I was willing to forgo payment back from SS for my contributions to SS until a few years ago ONLY IF I could be allowed to NEVER contribute another penny to it. The cut off age needed to be examined before SS could be dissolved, but it seemed an equitable solution to me. Had the free market economy not been tampered with by global factions, I am willing to bet that my pay off at retirement would have been greater than what SS would dole out. And our Country would have been rid of the National Ponzi Scheme. And that would have been worth it anyway. I mean, really, don’t a lot of us invest for our children and our children’s children anyway? Now look what were letting them inherit.

    A side note: there are millions of people that do not participate in COMPANY MATCHING 401ks, but they LOVE SOCIAL SECURITY! Dollars to rice grains they voted for Obama, every last one.
  • People scare me
    Social Security is the great ponsi scheme.

    http://www.physicsforums.com/archive/index.php/t-14854.html

    Good read
  • Robert Pheiffer
    Well, Robert, the only difference between Madoff and Congress stealing the funds that should have been set aside for social security is that Congress left behind an IOU. I am sure the IOU is redeemable at all metro Atlanta Party City stores.
  • Straight out of Ayn Rand
    "Atlas Shrugged" gets scarier and more real - and more "ripped from the headlines" - every time I read it. I'm back in the middle of it now. The Taggart Tunnel just blew up.

    I was thinking this douchebag sounded more like Eugene Lawson.
  • grammar?
    this one really should win some kind of a award.
  • scared animal
    ....loser actually signed his name to the email. You'd think he'd be ashamed to admit his total dependence on our lactating sow.
  • lol...have you no feelings for your fellow man?
    Fellow man? maybe...fellow sheep, ah, no. And the majority of my "fellow men" are sheep. You carry on Neal, keep up the good work.
  • Hate mail
    Based on the writing skills of this moron, he is obviously too stupid to understand why Social Security is nothing more than a giant ponzi scheme ... one that we are forced to participate in.
  • The Madoff fraud is completely different than Social Security
    In Madoff’s Ponzi scheme:
    Billions of dollars are taken in by fraud. Early participants receive more than they put in which perpetuates the myth that it is a good deal, all while the Madoff siphons off money to spend as he wishes. It ultimately collapses when later participants try to get there money, and there is nothing there.

    Under Social Security:
    Billions of dollars are taken in by force. Early participants receive more than they put in which perpetuates the myth that it is a good deal, all while the government siphons off money to spend as it wishes. It ultimately collapses when later participants try to get there money, and there is nothing there.

    See what you can do when you have the guns and write the laws?
  • The Madoff Debacle Pales Compared to this Scandal
    There is a retirement scandal that makes the recent Madoff debacle pale in comparison. A very well known organization told people that if they made contributions to a retirement fund, the organization would put the money in a special account for their retirement.
    As it turns out, the organization did not place the contributions in a special account as it promised, but placed them in the organization’s general fund each year and spent them. It then paid out benefits from its operating budget the following year. In addition, every year the organization took in more money in contributions than it paid out in benefits. It called this excess a “retirement surplus.” The so-called surplus was not returned to the individual contributors or credited to their account. Instead, the organization spent the excess each year to cover other expenditures.
    When this case reached the United States Supreme Court, the Court ruled that the people were not actually making contributions to a special retirement fund because the contributions they paid to the organization were “not earmarked in any way.” The Court also ruled that the organization was under no legal obligation to pay out benefits from the so-called contributions but if it did, the payments were in the nature of charity and were solely at the discretion of the organization.
    The Court subsequently ruled that if the organization decided to modify the program or stop paying out so-called retirement benefits, the people who paid into the program during the course of their life would not have any legal claim for promised benefits.
    The reason Congress is not holding hearings about this scandal is because they are the organization perpetrating it…its called Social Security.
  • social security
    SS is little more than welfare for the elderly. They don't want to hear that because they believe it's a retirement scheme. Nothing could be further from the truth.
  • Corbett needs to get a lesson
    " . . . never forced anyone to contribute to his scheme." What do you think the Federal Government is doing when they take your money? Are you willingly handing it over? NO, you are forced at the point of a federal gun.
    http://nymike.blogtownhall.com
  • If this were a free country...
    If this were a free country I'd say, "Thanks, but no thanks." We should all know that the government has no business forcing people into a public retirement plan. I'll handle my own retirement savings. I'll even continue to chip in half of what I currently pay to help keep the system afloat with no expectation of a return. And if this were a free country, I could do just that.
  • What a tool
    Probably a union employee - he is Philip Reardon!!!!
    http://nymike.blogtownhall.com
  • I have to agree with the hate mailer
    Boortz went too far. Madoff was a con man & a thief, but he never forced anyone to contribute to his scheme. Boortz owes Madoff an apology.
  • It's Not a Ponzi Scheme... It's Worse
    Actually, I'll have to go with the people that say SS isn't a Ponzi scheme. It isn't. It's worse. Why? Three reasons:

    1. In a Ponzi investment scheme, the investors have shares representing a legal claim to a pot of assets. It's an empty pot, but it's still a pot. In SS, you have no legal claim whatsoever; if they decide not to pay, you're SOL.

    2. Ponzi shares are inheritable; if you die, you can leave your (albeit worthless) shares to your next of kin. With SS, if you die, your "share" (which doesn't exist anyway) goes away completely.

    3. And last but not least, unlike a Ponzi scheme, this one *is* legal!
  • Because it IS the same, bob.
    It will collapse at least 10 years before I retire, so I won't ever see any of the money I was forced to put in that ponzi scheme. Wait, they AREN'T the same, are they? Nobody was forced to give madoff their money.

    That's a lot more 'insensitive' than anything anybody could say about it. If only the dp would limit their damage to my 'feelings,' and leave my freedom and wallet out of it.
  • Darn it!
    A couple people already beat me to comparing it to Atlas Shrugged!

    "But it's for the good of the people!"
  • socsec
    robert either took way too much or not enough of the medicine i paid for. if they just called it a FONZIE skeem it would be cooler...
  • What's wrong
    C'mon. That's one of the goodest emails I ever readed!
  • Res ipsa loquitur
    Unfortunately, things that speak for themselves usually speak a different language than do the masses.
  • Robert
    I get the impression that Robert didn't went very far in skool. Someone needs to try and explain ponzi schemes to him in simple language.
  • Ouch!
    Another email that was hard to read. Not even sure what he was complaining about?! Either way, SS is a ponzi, it sucks, our private accounts will probably be confiscated to add to the system to shore it up, more lost rights, we need to kick everyone out that we can starting in 2010 and just start fresh. Fairtax would fix it all.

    By the way, if these investors had done ANY due diligence on Madoff before investing, they would have discovered he's been under investigation since 1992. Now what person in their right mind would STILL give this man money? Sorry, but you made your bed.
  • Interesting possible sentence
    Madoff could get 150 years in prison for taking peoples money... this system regularly lets murderers, rapists and child molestors out of prison after just a few years... seems more value is put on money than life.

    This morning (barely paying attention to news while getting ready for work) I heard of someone growing marijuana who is facing life in prison.

    Does this make ANY sense to anyone?

    Taking someones money or growing plants gets you a life sentence.

    Murderers and rapist and child molestors get comparatively short sentences and get out and kill, rape and molest again.
  • Liberal America has spoken
    From the gushy, touchy-feely bleeding heart attitude to the typically poor grammar, this is the voice of Liberal America. And they're voting in record numbers now folks - some might be dumb as dirt but they know which side of the bread is buttered for them. The rest are just too damn stupid to know what's bad for them.
  • Sounds like...
    something James Taggart would say.
  • True Enough
    All of these posts just hit the nail square on the head ... I just WISH that nail wasn't the last nail in the coffin! Seriously ... much like Jeremy's concern about paying in massive money to the SS fund only to get little or nothing out at 25 years old ... I feel the same way after paying in for damn near 25 years. It just plain stinks.

    These leeches like Robert Pfeiffer are more concerned with buying whatever junk they want then planning for their future and they deserve the SS system; for the rest of us it should be 100% voluntary! I agree with the other writers that at least the people that bought into Madoff's scam made a choice ... Madoff should still suffer the rest of his life rotting in a dirty cell ... but people that bought into his get rich quick scam made that choice. Those of us forced to throw our money down the SS rathole are being dragged kicking and screaming with no option to opt out of a wasteful, worthless plan.

    I say ... if you could demonstrate (yes you should be able to prove it) that you are investing your money responsibly in a Roth or 401K or 403B or whatever ... you should have the option of investing ALL 15% of your SS money (the 7.5% we are forced to pay AND the 7.5% our companies are forced to pay) in a private investment account. Just think how much money people would have at retirement if that was the case!!

    Heck ... I'd even go so far as to say the government could keep all of the moeny I've already paid into the insipid SS system for the last 25 years IF I could opt out of ever paying again for the rest of my life and invest the extra 15% myself.
  • Your Social Security Statement
    I wonder if Mr. Pfeiffer gets those occasional SS statements. My February statement had this nice tidbit from the Commissioner:

    "In 2017 we will begin paying more in benefits than we collect in taxes. Without changes, by 2041 the Social Security Trust Fund will be exhausted and there will be enough money to pay only 78 cents for each dollar of scheduled benefits."

    However I doubt he did and he went to straight to his payout statement and said “woohoo...bless the government.”
  • sounds like ms. rand
    This guy sound like he is straight out of Atlas Shrugged. In fact it sounds like he is quoting a line from Jim Taggart or Philip Reardon. How does giving the government money help the poor? Perhaps if the government taxed us less we could all give the truly needy more of our own volition?? Instead of being forced to help out the moochers too...
    Is it charity when one is forced to give?
  • This Guy is right - but for the wrong reasons
    This guy is right. It's not a good comparison between Madoff's Ponzi scheme and Social Security. While both arrangements paid off early investors with late investor's deposits and there are no real assets supporting the house of cards, Madoff's $50 billion rip-off is mere flesh wound requiring only a small band-aid compared to the trillion dollars of arterial hemorraging being forced on us by the inter-generational theft scheme called Social Security (which is neither "social" nor "secure")
  • Ponzi Party
    Tony & Guido run a game of chance its called the NUMBERS RACKET.
    Madoff Does it its a Ponzi Scheme
    The state does it its' Called the (Education) Lottery.

    Social Security does it it's "a Voluntary Contribution" (Nothing voluntary about it).

    The only ones that are Voluntary are the 1st three, and the kicker is retirement was set at 65 With life expectancy of 62 (FDR must have used Tony & Guido's statistician) The only difference between the 1st 2 and the last 2 is the use of Legislature to make an illegal act legal!

    Another clueless dolt who shold be forbidden to vote because he can't pass the IQ test!
  • no accounting for education
    That letter must have been written by a goverment school attendee (who knows if he graduated...) It hurt my brain just to decipher it...I am praying for our future!
  • SS is a Ponzi Scheme
    Mr. Pfeiffer's all too common ignorance is what allows our government to carry out the world's greatest ponzi scheme.

    Greg R
  • hate mail
    My god you have went too far!

    obviously, a gov. school graduate.....
  • Zombies
    I am finding it amazing that so called "adults" have no free thinking... that they just vomit out things they hear without any real thought.

    Of course SS is a Ponzi scheme. When will "adults" grow up so that they understand how they are being manipulated?
  • Social Security vs. a Ponzi
    Robert Pfeiffer, like it or not Social Security by definition is a Ponzi scheme. The only reason that it is legal is because it was passed into law.
    As for your comtempt for so called greed, stop coveting what other people have. If you want what the Jones's have then get out there and work for it yourself !!
  • SS v Madoff
    Mr. Pfeiffer must have learned his grammar in a government school.
  • Dude, do you lack logic...
    The very definition of a Ponzi scheme is to use money from new investors to pay returns to old investors. The thousands of dollars I pay in payroll taxes is not being put away in some private fund, waiting for me to retire. That money is going RIGHT OUT THE WINDOW today to somebody else who is already retired. Let's see, my money is being taken to give to somebody else who has already paid into the system. That sounds pretty much like a Madoff (Ponzi) scheme to me!
  • Robert's rant
    This makes absolutely no sense. Did this guy's relative create Social Security. It is almost like he is personally hurt by your assertion. Truth hurts when your ideology is the only guiding principle in your life and it is proven to be fallacious.
  • He has a point
    Neal,

    There is some validity in what Robert says: you should be chastised for missing something. Not only is the Social Security System a MUCH bigger Ponzi scheme than Madoff could have ever dreamt of creating, the main difference is that participation with Madoff was VOLUNTARY.

    Bill
  • SS is worse than what Madoff did
    Are there really people out there that don't know that Social Security is a poncy scheme? It's worse though because when you work in this country, you are FORCED to participate. Madoff had to scam his victims into voluntarily (albeit foolishly) handing over their money. The government forces you to participate in Social Security. Originally, it was supposed to be just for retirement but the criminals in Congress started to raid the fund for many other things many years back making it even less stable. Social Security was never a good idea, done in a way that is criminal for private citizens, and continues to be a drain on the treasury.It is just pathetic that there are citizens that think Social Security is all right. Do these people really think there is an account out there with their name on it with the government innocently saving their money? Well, that's just sad.
  • SS
    So as a 25 year old taxpayer what can I expect to see out of social security? How is it, I pay all of this money in, am told I'll never see a penny of it because of the set up, but I can walk down the street and see people that have never worked a day in their life getting thousands of dollars from it? So I'm left to depend on a 401k which as we have all seen isn't very reliable at all
  • greed
    best definition of greed i can think of. when someone has the drive to work hard and earn more money than lazy people can.
  • Robert
    Get a grip and make an attempt to listen. Also, a course in writing or grammar would be nice.
  • Your Friday hate mail guy
    Why is it the people who hate you the most are also the most ignorant? The correlation must be amazing!
  • Hate Mail
    Oh my gourd!!! What an ignorant, grammatically-challanged dip-wad?
  • sometimes you have to hit people with a stick to get them to understand
    http://en.wikipedia.org/wiki/Ponzi_scheme


    And the first line says it all.

    A Ponzi scheme is a fraudulent investment operation that pays returns to investors from their own money or money paid by subsequent investors.
  • SS - Ponzi
    That guy is a douche. Social insecurity is a Ponzi scam on the order of 20 times per year of what POS Madoff took over 40 year period.
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