Comprehensive Annual Financial Reports Expose Fraud
- PART TWO
by: Walter J. Burien, Jr.
The Biggest Game In Town is of major
importance to every American. You are encouraged to videotape it for
further review and sharing with others.
This program is a comprehensive disclosure
of governmental financial operations that have been deliberately concealed
and kept from the American people by the governmental financial agencies
as well as by the syndicated media. The scope is huge; the personal
financial impact of vital concern to all.
Do the people of this great land own the
government or do the collective governments think they own the people?
Is it time to mandate "effective action"
through united efforts of the American people? Can David still fling the
rock true and straight to hit its mark and defeat Goliath?
Are you aware that 30 years ago only 8-12%
of the financial activity and ownership of our nation resulted from the
activity of the government, but today the figure is a conservative 48%?
We the People have been victimized by the
largest organized syndicate on the face of the Earth. The Constitutions
declare that all political power is inherent in the people and that all
powers not directly and specifically delegated to public servants remain
with the people.
Our public servants are accountable to us
and it's time we hold them accountable with genuine liability and cause
the profits resulting from governmental activity to directly benefit the
people!!!
*******Walter Burien: narrative********
Welcome to Program Two of The Biggest Game
In Town. The prior program ... on Program One we discussed the
Comprehensive Annual Financial Report and the structure behind it. That
structure shows the clear and unequivocal financial takeover of the wealth
of this country by composite government. On the local side, cities,
counties, state and federal, 54,000 separate individual government
corporate entities filing separate reports with investment wealth,
enterprise funds, venture projects, well beyond the scope of the public's
knowledge and comprehension. We're going to bring it within the scope of
the public's knowledge and comprehension for effective change. The ... we
left off ... on Program One ... if you have not gotten Program One I
highly recommend calling the station and getting a copy. There's a lot of
information contained therein, so you'll be able to appreciate Program Two
and Program Three.
At the end of Program One, we ran a little
short on time, and I wanted to bring up one point. It had to do with the
pension funds within government. This is for all of those government
employees out there who are about to find out there's a good chance
they're getting severely shortchanged. It's not just the public, friends.
The same is happening to your government employees.
Now, in my hand . . . I'm from Arizona,
Prescott Arizona. This is a copy of the state retirement Comprehensive
Annual Financial Report for the state of Arizona, 1998. The state of
Arizona, under the state retirement fund, has 175,000 participants,
retired and active. Using the highest actuarial basis possible to
determine 100% funding for all participants required, approximately, based
on current standards, about $14.5 billion dollars. Now, I have a page from
the report, page 42 - I'm going to put it up, I think you should be able
to see this. Now we're going to page 42 here, on camera 3.
Now ... right here, it says the ... lets
see here ... this is for the total actuarial accrued liability; and what
total actuarial accrued liability means is what is required - the money
required - for 100% funding of all participants, in the fund. That figure
is $13 billion, 63 8 million. With $13 billion, 638 million, this funds
100% of all 175,000 participants in the fund. Now I have a separate page
from this report, this is page 15, from the Arizona state retirement
Comprehensive Annual Financial Report. The total assets of the fund, at
the end of June 30th 1997, is $20 billion, 353 million. Now as I
mentioned, the total accrued, actuarial accrued liability, was about
$13-1/2 billion and they're sitting with $20 billion, 353 million. Now the
current report, the current figures, I've called to verify the standing of
the fund, the current actuarial accrued liability is approximately $14.5
billion now. The fund's balance, after getting a 16.65% rate of return for
the year, is standing up close to about $28 billion - with contributions
and returns into the fund. Allowing for a 125% funding of all employees -
100% funding of their pensions, they're $9 billion over funded; in other
words, the Arizona retirement fund is reaching 200% funding. There is not
one city, county or state statute that even addresses the return of
surpluses back to the employee or the employer - the cities, the counties,
the school districts, the state agencies. Legislature showed their
culpability two years ago on these surpluses. With these types of
surpluses in the pension funds, there was no requirement for any payment
from the employees or the employers. In fact, they should have been
getting substantial refund checks back. What the legislature did was they
passed their own internal statute mandating to participate in the fund a
minimum payment of 2.18% for the employee and the employer, as a separate
statute. They don't want to return those billions. When you break down
within the report where those monies are invested, there's what I call
"the blue list" of stocks and investments, things we all know and you can
recognize easily. Then there's what I call "the red list," things I've
never heard of before.
I'd be very interested to find out what
judge, what attorney, what congressman, what senator, what county
supervisor, is behind some of those investments, who is the shell owner of
some of those investments and how many of those investments are actually
real corporations providing goods, products and services and how many are
shell corporations. It'd be very interesting to find out.
But the administrator of the fund, I
chatted with him a few months ago and I brought up the point on allowing
for 125% funding of the employees' pensions that freed up $9 billion. You
cannot return $9 billion in investments through liquidation without
causing a major catastrophe. Because if Arizona liquidated $9 billion from
the pension funds for return to the employees and the employers, every
other state with substantial surpluses, in theirs, would say, "Oh, my God.
Arizona's moving openly, we'd better liquidate our funds, you know, while
we still have a chance," and you could create a 1929 scenario crash;
everybody moves at the same time
I said there was a very easy solution. For
the government employee, based on his pro-rata share participation in the
fund, he is issued an individual IRA account as his refund. Nothing's
liquidated, nothing sold, paper transfer, total order, no problem. For the
city, the county, the school district, the state agency, based on their
pro-rata share and participation in the fund, they're issued an individual
market annuity account as a refund. Nothing's liquidated, paper transfer,
same management, no problem. Now, the interesting point is, on the refund
- just from this one account, one fund - the state of Arizona retirement
fund, just on the surpluses, back to the employees and the employers,
that's $4.5 billion back to the employees, $4.5 billion back to the
employers, and they're still 125% funded. I asked the administrator "Could
it be done?" He goes, "Sure, if there was a law addressing it, we could
easily do it." And the rightful beneficiaries from this one fund, being
that it's a retirement fund, would be the employees and the employers. But
the refund back to the cities, and the counties, and the school districts,
just from that refund, the return… as I mentioned, they accomplished a
16.65% rate of return this year, that's been roughly their average for the
last four years ... the return for the cities and the counties and the
school districts just so happens to equal about 15-20% of their operating
budgets for the year. Anyone sense a tax reduction here?
I mentioned at the end of Program One the
CITA, Citizens Investment Trust Account. We covered the points extensively
as to the composite totals of the government revenue- city, county- state,
and federal - equaling about $60 trillion in revenue. There is no national
debt - there is no debt, as we know it. They have a debt under their
budgetary basis, their annual operating budget. And the example I used
during Program One was if you had a budget for operating your house of
$20,000 a year but you were bringing in $100,000 a year on your salary,
you could spend $21,000 on your budget and you'd have a $ 1000 deficit.
[Your liquid net worth under this example over your $100,000 annual income
could be 1.5 million] The same applies here. When you look at the
budgetary basis of a city, a county, and a state, and then look at their
total investment net worth, total enterprise projects, toll ways, bridges,
different venture projects they've started which are generating
substantial revenue, if you look at the whole picture there is no real
deficit From the liquid investment assets they could wipe any deficit
instantly, if they chose to do so.
But on the CITA, the Citizens Investment
Trust Account, I'd like to cover that in depth. The CITA is established by
the resident property owner, tax payer, for your city, your county, your
state. The CITA is initially formatted with the use of CFAs, Certified
Financial Auditors, who examine the books - city, county, state - as would
be applicable to the residents of that city, county or state, to identify
surplus revenues and projects being operated by government which should be
operated by the private sector - golf courses, whatever, places where
government has started venture projects which no way should they have
their hands on, that should be sold back to the private sector. The CITA
recommends for re-appropriation of the surplus funds, which were
identified, into the CITA. It recommends for the sale of venture projects,
their assets, which should be sold back into the private sector, for that
revenue to be deposited into the CITA. The CITA recommends for the
downsizing of that government, city, county or state. As I brought up in
Program One, each ten years, it's been about a 100% growth in government
on the city, county, state level-in general, across the country. The CITA
can have a phenomenal amount of revenue built into it in a very short
period of time.
1 -
2
-
3
-
4 -
5 -
6
Internal Revenue Code
Section 6654(e)(2)(c) states:...no tax liability...if....the individual was
a citizen or resident of the United States throughout the preceding taxable
year. IRS contends the success of the SELF-ASSESSMENT system depends on
VOLUNTARY COMPLIANCE
All
human rights are natural and cannot be taken away by any legitimate means.
This is the premise of the Declaration of Independence. The United States
Government can only exercise powers given to it by "We the People" through
the U.S. Constitution. The "income
tax" is an INDIRECT TAX. There is no section of law in the Internal
Revenue Code (Title 26 USC) making a CITIZEN or a RESIDENT working and
living WITHIN A STATE OF THE UNION, LIABLE to pay the INCOME
(indirect/excise/duty) TAX.
REAL Freedom
Library
