[throwaway_jobs]

Simple...imagine an accounts receivable that you can borrow against, so when you are low on cash you can borrow money on the basis you will be able to pay in the future with the account receivables.

Only the US account receivable is taxes paid by taxpayers. So what happens is when the rich are in trouble they turn to the government and what the government does is says ok we will borrow against future taxes and just give it to you and typically those being bailed out are banks who turn around and take the taxpayers money and lend it back to the taxpayers. In short the taxpayers get screwed twice once being indebted to the government for future taxes and then again when they have to borrow their own debt from banks.

So imagine I’m your government and say look Bank needs money so I am going to give the bank $100 and you the taxpayers will have to pay that back. Bank gets the money and turns around and lends you $90 while keeping $10 as a fee earned and for lending you the $90 you will need to pay the bank back $100. You see now you need to pay $100 in future taxes to the government and $100 to the bank, so you are really out about $200 less the $90 loan.