Our ObamaNation has learned that President Obama favors the Madoff plan for federal debt elimination. Under this plan the federal government becomes a taxpayer whenever federal tax revenues fall short of federal government spending.
Think of the plan as having 2 hands. One hand receives tax revenues from taxpayers and the other hand redistributes the money to taxpayers. Under this plan whenever the government detects an imbalance between the 2 hands the redistribution hand redistributes the difference to the revenue hand.
Now using discrete logic this would not actually correct the imbalance but using the power of digital computing and multidimensional calculus the time interval for the imbalance can be reduced in practice to mere fractions of a microsecond. The time of imbalance becomes so small to be undetectable especially in relationship to the time required to calculate the government actually has such a deficit.
Such plans have been in place at the federal government level for some time on a smaller scale such as the Congress voting itself a pay raise, transferring of money from Social Security to the general fund using simple IOUs, FED policy, TARP, etc. However, this new plan allows for the eventual transfer to a single payer taxpayer system where the federal government is the sole taxpayer.
This plan has the added benefit of the government now being able to use the tax system for the intended purpose of punishing those than simply have too much according to those that have just the right amount of power in Washington DC.
President Obama stated he had always favored the single payer taxpayer plan for the entire economy. Our actions on banking, insurance, auto industry, and health care illustrated how effective such a single payer taxpayer plan is for improving the well being of all Americans. The Madoff debt reduction plan is an important step to moving towards single taxpayer plan for all Americans.
Former Federal Reserve Chairman Greenspan stated the Madoff plan is the one that has been used informally at the FED ever since America went off the gold standard. Former Treasury Secretary Paulson stated that TARP illustrated that the Madoff plan will work in the short term allowing us to transition to the single taxpayer plan.
Congress Barney Frank stated he favors any government plan that includes the phrase single payer or bend over and grab your ankles.
Let us be Franked. Support the Single Taxpayer Plan.
