Time: Tue May 27 11:48:20 1997
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Date: Tue, 27 May 1997 11:10:24 -0700
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From: Paul Andrew Mitchell [address in tool bar]
Subject: L&J: 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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