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It's somewhat fanciful to think the government, upon receiving this windfall of 'reappropriations' will turn around and put them toward paying the national debt
by iwwr 16y ago
It's somewhat fanciful to think the government, upon receiving this windfall of 'reappropriations' will turn around and put them toward paying the national debt (or at least reducing the deficits). More tax income doesn't reduce the individual 'working man' tax burden, spending just increases to cover the windfalls.
BTW, this is very revealing:
"I'm going out of my way,” he said in a prison interview. “Risking my career. Risking my reputation. Risking my life. And trying to unfold the largest fraud in US history."
versus
Birkenfeld's attorneys argue that he's entitled to a percentage of all the tax revenue recouped as a result of his whistleblowing.
- kenjackson 16y agoWhy is that a "versus"?
- iwwr 16y agoHe's not entirely a disinterested party, concerned for the public good etc...
- kenjackson 16y agoStill not a versus. You can try to solve a crime expecting personal gain. For example, many detectives probably wouldn't work for free. They solve crimes w/ the expectation that they will be paid for their results as agreed to by some contract.
- iwwr 16y agoWhen the upside is you get $100M and the downside may be having to quit your job?
- kenjackson 16y agoThe downside is prison or maybe your life. You start taking millions from influential people, and my job is the last thing I'm worried about.
- iwwr 16y agoIn hindsight, it was not worth it, but he didn't know that.
- notahacker 16y agoSure, but there's a major incentives issue when people start demanding a percentage of the proceeds for uncovering frauds they initially helped to commit... I also don't think it's appropriate that he's in prison whilst those he tried to unmask aren't, of course.
- jhamburger 16y agoAt the same time, wasteful thoigh it might be government spending presumably doesn't just go down a black hole. The working man receives a service or at least the fringe benefit of that money being circulated back into the economy. Either way, any use is more beneficial to ordinary americans than having the rich horde billions of taxable dollars in offshore accounts.
- tlb 16y agoHoarding money isn't actually bad for ordinary Americans. It removes money from circulation, which the Fed can make up for as necessary to regulate inflation.