Craig Daily Press / David K. Williams, Jr.: There is only fraud

Archive for Tuesday, July 28, 2009

July 28, 2009

To the editor:

This is in response to Ryan Neece's letter to the editor where he sings the praises of government over private enterprise.

Of course, Neece is right that fraud in the private sector should not be tolerated, which is why fraud is illegal and contract law exists.

However, he fails to recognize that the Ponzi scheme for which Bernie Madoff received 150 years in prison is imposed upon every one of us by the government.

It's called "Social Security."

The government promised to take money from workers, keep it in a trust fund and return it upon retirement. Just like Madoff, however, the government takes the money from today's "investors" and gives it directly to yesterday's "investors."

There is no "trust fund." There is no "investment."

There is only fraud.

David K. Williams, Jr.

State Chair, Libertarian Party of Colorado