Like the federal government, the state and local governments collect taxes, fees and fines in order to finance legitimate expenses authorized by the voters. That's the way it is supposed to work. At least, that is the way most of us think it works.

      What if some of that money were used to buy voting stock in private companies? What if these purchases had nothing to do with pensions or any other voter-authorized use? Would most people approve? Would anybody be upset to discover that such things have been planned since 1934 and have been happening since 1946? I would. It would mean the eventual government control of business; but is it true?

      A comprehensive annual financial report (CAFR) is issued by the federal government, each of the states, and all or virtually all of the municipalities. It reports the budget (government income from taxes, fees and fines together with approximately matching expenses) but it is also said to include a report of accumulated profits on investments in the common stock (voting stock) of private companies. These investments, if they exist, were originally paid for by taxes, fees and fines, but subsequently paid for by returns on previous investments. By investing with prudent-man rules over all of these decades, without the need to spend the dividends, government control of free enterprise could be realized. Some say that this was the intent.

      Here is the current problem: The CAFR is complicated enough to require expert testimony and there is a media blackout. No public concensus has been reached. Tax layers say it is not a case, reporters and politicians will not respond, and CPAs seem to want to stay out of politics. See Wikipedia for some background:
http://en.wikipedia.org/wiki/Comprehensive_annual_financial_report

      These claimed CAFR off-budget features were not well known until Walter Burien and Gerald R. Klatt made the public aware of them. The CAFR is an accounting format that was established in 1946 but not widely reported until recently. Politicians and television news organizations have been reporting strictly on the budget - a part of the CAFR.

      Google lets you find a CAFR by using this kind of search term: State of New York comprehensive annual financial report.

      I learned about this only recently and I would like to get some confirmation about the astounding claim that these governments in the U. S. collectively own trillions of dollars worth of voting stock in private companies like 3M and General Electric. It is also claimed that over fifty percent of the stock market is owned by federal, state and local governments, and that most television news organizations have agreed not to mention it.

      I am concerned about government ownership of the means of production. I don't like Walter Burien's idea that this wealth could be used to eliminate taxes. I think that I understand why, in 1934, FDR might have wanted this two-tiered accounting system and wanted government ownership of private company stock; but if this has happened, I think the whole thing should be undone.

      Is this really happening?

      Here are some references:

      From Carl Herman:
http://www.examiner.com/la-county-nonpartisan-in-los-angeles/cafr-us-agencies-have-billions-trillions-investments-while-crying-budget-deficits

      From Walter Burien:
http://video.google.com/videoplay?docid=6703413885850200097#

      Gerald R. Klatt explains how the investment money was improperly obtained:
http://cafrman.com/Introduction.htm

      Here is something more current from Walter Burien:
http://www.youtube.com/watch?v=uy8tnC4xLX8

      Here is an an example CAFR from Tennessee:
http://www.tn.gov/finance/act/cafr_fy09/09jumpsc.html

      Here is an opposing opinion:
http://www.reddit.com/r/conspiratard/com...with_links

      This link argues that it is not just a matter of pensions:
http://www.itulip.com/forums/archive/index.php/t-15683.html

      This information is of enormous importance. Qualified experts in greater numbers need to check its accuracy and publicly state their conclusions.

      If these investments exist, I believe the investment decisions and decisions about the use of the profits from these investments should come under voter control. I also believe that the practice of investing public money in private companies should be specifically outlawed by a clarifying amendment to the Constitution. What do you think?

      Perhaps each state governor will promise us that this practice will not be condoned within his or her state.