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Madoff's scam was small compared to Ponzi schemes the government itself runs: Social Security and Medicare.

John Stossel

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John Stossel
Age: 77
Born: 1947
Born: March 4
Journalist
Reporter
Television Presenter
Writer
Chicago Heights
Illinois
John Frank Stossel
Schemes
Runs
Compared
Security
Small
Social
Scam
Running
Scams
Government
Medicare

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I'm an American. I'm for prosperity. I've discovered, from 40 years of reporting, that what creates prosperity is limited government.
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David Boaz has been my guide to the history, economics, and politics of freedom for years.
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What private property does is connect effort to reward, creating an incentive for people to produce for more. Then, if there's a free market, people will trade their surpluses to others for the things they lack. Mutual exchange for mutual benefit makes the community richer.
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I started out by viewing the marketplace as a cruel place, where you need intervention by government and lawyers to protect people. But after watching the regulators work, I have come to believe that markets are magical and the best protectors of the consumer. It is my job to explain the beauties of the free market.
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Government has no wealth of its own. Before it gives anything to anyone, it must take from those who produced it.
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Take away the government's monopoly, and private groups will do it better.
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Patrick Henry didn't say, Give me safety, or give me death.
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Fraud will always exist. Enforcement of anti-fraud laws is a useful deterrent, but in the end there's no substitute for investor vigilance. Government regulations provide a false sense of security - and that's worth less than no sense of security at all.
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The people who have the biggest passion for restricting other people's behavior are the very people we should worry about most. Unfortunately, they keep running for office.
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Isn't allowing people a choice what America is all about?
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What happened under communism - and increasingly, is happening in America, as Joseph Sobran put it: 'Need' now means wanting someone else's money. 'Greed' means wanting to keep your own. 'Compassion' is when a politician arranges the transfer.'
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A handful of people who probably never even ran a small business actually think they can reinvent the health care system.
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Government has no money of its own. All it does is take resources from one group and given them to another.
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There's no business that's too small for government to torture
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The happiest stutterers, I learned, are those who are willing to stutter in front of others.
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Asking someone in the media about liberal bias is like asking a fish about water. 'Huh, what are you talking about? Where is it?'
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The politicians should not tell the people to shut up.
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A thousand restaurants close every month. They re-open, and that's good for America. Nobody's rescuing them. They employ people, too. If we let them go bankrupt, the factories don't go away, the creative people don't go away. They get employed more productively by others.
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All our rights are gradually eroded as government gets bigger.
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It’s not about electing the right people. It’s about a narrowing their responsibilities.
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