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The Way We Live Now II



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Predictably, members of Congress from New York, New Jersey, and Florida have begun to agitate for taxpayer relief for people who lost money with Bernie Madoff. Which is to say that they want to take money from people who could never have afforded to get into the Madoff investment club, and/or did not put their money in with a guy who produced magical 15% returns every year with close to zero variance and were not surprised that this was riskier than advertised, and give it to wealthy people who lost money in this investment vehicle.

Rep. Kendrick Meek (D, Fla.) noted that his proposal for special tax relief “would benefit elderly investors who parked money with Madoff and others for years.” What about all those blind elderly WWII combat veterans who had invested the money they saved from working in a dry cleaner for 45 years with Madoff so that they could have as much money as possible to give to small children with incurable diseases?



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