Time: Tue May 27 11:14:52 1997 by primenet.com (8.8.5/8.8.5) with ESMTP id JAA23764; Tue, 27 May 1997 09:25:17 -0700 (MST) by usr02.primenet.com (8.8.5/8.8.5) with SMTP id JAA13955; Tue, 27 May 1997 09:24:51 -0700 (MST) Date: Tue, 27 May 1997 11:10:24 -0700 To: (Recipient list suppressed) From: Paul Andrew Mitchell [address in tool bar] Subject: SLS: Grace Commission [This text is formatted in Courier 11, non-proportional spacing.] In his 1984 Grace Commission report on government waste, President Reagan stated: "One hundred percent of what is collected is absorbed solely by interest on the federal debt and by federal government contributions to transfer payments. In other words, all individual income tax revenues are gone before on nickel is spent on the services taxpayers expect from their government." This quote was located by searching the Internet for the term "Grace Commission" using the Alta Vista search engine. # # # Paul Mitchell comments: If 100% of tax collections are dispersed to interest on the federal debt, and contributions to transfer payments (e.g. Social Security), then a massive amount of money must be leaving the country, destination: overseas banks and off-shore money laundries like Trust #62 in Puerto Rico. Is there anything wrong with this hypothesis? Speak now, or forever hold your peace. /s/ Paul Mitchell http://www.supremelaw.com
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