Posted on 11/04/2009 1:59:25 PM PST by 2ndDivisionVet
All young Americans need to wake up and pay attention. You are being sold out by the federal government. Your future will be bleak indeed if you do not heed my warning. You are being sold down the river on so many fronts that I cannot list them all in this short article, but I will attempt to give you a small glimpse of what your future holds if you do not stand up. You need to get informed NOW. You need to speak up and let your voices be heard....or become a working slave to support the federal addiction to spending your earnings.
Right now social security and medicare are broke. The country is bankrupt. The government led people to believe for years that there was money set aside for social security. It was never set aside. It was always a lie. There was never a fund for social security nor is there one for medicare or medicaide.
These entitlement payments are paid each month from the money that is withheld from your paycheck. It is, and always has been, a giant ponzi scheme. In the early years it worked because the baby boomer generation was a larger part of the population than the elderly who were drawing on the programs. They were young and working, so there were lots of withholdings with which to pay.
All these millions of baby boomers are starting to retire. There are far far fewer young people to take the money from. It is an upside down pyramid. That means that to support these programs the government will have to do one or all of three things. They will have to increase what you have to pay by untold amounts, tax you more, and either print or borrow more money from China to pay the bill.
If they print the money the value of the dollar goes down and prices go up. Your cost of living will increase. If they borrow it, the debt goes up, and your taxes will have to go up to repay the debt. The burden on the young will be unbearable. The interest alone on the debt will break you.
Now they want to pass health care reform. They plan to REQUIRE you to buy health insurance or pay a $1000.00 fine. If you buy it, it is estimated to cost you 10 to 12% of your income to start with. The problem is that you will end up in a government program much like medicare. You will have worse health care and most likley rationed at that. The REASON they are trying to force you to buy it is they know you don't need it. They want your money to help them offset the cost of providing the care for the elderly who are on medicare.
What I am telling you is that they are going to come after you from so many directions that it will literally cripple you financially. If you think times are tough now, let this health care reform bill pass. It will ruin you financially and will be used to control your very life because it will be used to control everything you eat, drink, buy, and even how you have to live. Some of your elders are fighting to save you from this, but we need your voice and your help. Do not sleep through this class or you will pay dearly. Daydream at your peril.
This from one fighter who would like to see you enjoy a future and freedom. You need to go to this site and read it all....this is a wake up call guys. http://www.americanvote.info
The dirty little secret in all of this...is if, and I say if they outlawed abortion there would be enough babies to take care of the problem.
SSSSSSSSSHHHHHHHHHHHHHHHHH!!!!!!!!! don’t tell anyone I said this!!!!!
Bump for printing for my kids...
So, have you seen the last Dancing With The Stars?
(/sarc barely off)
I was busy watching the Rush-less Rams and AmeriKKKan Idle...
They will join African Americans,who have been slaves to the federal government for years as well. Too bad most don’t realize it (Star Parker had a fabulous article about this very thing).
That’s a good point.
However, having more children to ease the burden doesn’t justify us stealing from them. Our children will curse us tomorrow for what we’re doing to them today.
Ironic.
First President (white) from Illinois frees the slaves.
Second President (black - ok 50%) from Illinois makes slaves out of all of us through debt and big government.
Hell, next we’ll be seeing dems and Obama push for laws that conservatives only count for 3/5 of a person.
And how are we conservatives going to explain that it was not us that did this? Maybe we are to some degree by puting faith in the RINOs over and over hopeing for another outcome.
ping
Here, you get an overview of the looming bankruptcy of the Social Security/Medicare system. Politically, they are one program, which Congress is unwilling to challenge.
The unfunded liability of the two programs is now about $83 trillion. See Table 2. (Print this out to view Table 2 horizontally. To make it fit on a standard computer screen, it’s vertical here.)
To pay for Social Security and Medicare, the government would have to raise income taxes by 81%.
Today, the combined programs of Social Security, Medicare, and Medicaid consume almost 50% of the U.S. government’s budget. For a report on this, click here.
http://garynorth.com/public/department30.cfm
Yet they did FORCE us to pay into the system and one would like to get back the money they paid in that is something to think about. For example to date my husband has been forced to pay in for 40 years and myself I paid in for 39 years.
Guys, why don’t you do us all a favour and just cut off the entitlement program?
We young people can try our best, but we can’t do this alone.
As for me, I’m not paying anything into SS, and I don’t expect to get a penny out. The only way to end this program is to starve the beast.
I think they should cut it out but I also think they should pay back what they stole from us that is only fair.
And the fact that NO ONE, to my knowledge NOT A SINGLE STINKING RAT OR REPUBLICRAT, is saying anything about the Ponzi Scheme that is the Social Security system is the most infuriating thing. The basic formula A=P(1+r/n)^nt, where A= amount, P= investment principle, r= interest rate, and t= time of investment, or the compounded interest formula, is at the heart of all investment programs upon which retirement programs are based, so where`s the principle? A pile of IOUs are a poor substitute for REAL funds.
To be sure this is nitpicking, but darn it, a writer who has problems with the English language always bothers me.
In this case, the writer neglects (more than once) to capitalize Social Security and Medicare. Also, he should know that Ponzi is the name of a person and when it is applied to scheme it is written “Ponzi scheme.”
Sorry, but these elementary errors make me lose confidence in the source.
Well heck, I dunno! :-)
Best I can do is try not to benefit from the theft. Somebody hands me a fistful of cash they stole from my kids? I call up my kids and tell ‘em to swing by and pick up their money.
My parents steal from me every payday for their retirement and medical care. But I don’t plan to steal from my kids. Time to break the cycle of theft!
My parents used to tell me, if I wanted to buy something, I had to save up my allowance. “If you can’t pay for it, you can’t afford it.” Nowadays, if we can’t afford it, we steal from the next generation to buy it.
Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
Why do you think they're filling the spaces with 30+ million illegal Mexicans?
The problem is, you can't replace a dead puppy with a goldfish: Different levels of animal.
Let’s see a show of hands:
How many of you look forward to your “Federal Tax Refund” every year??
How many of you think that your “tax refund” is a great way to “save” a few bucks??
‘nuff said...
So as it is, we will be paying more for less & rationed health care. Why would any sane person agree to this?
sw
For a time, yes.
But, in the long run, that which is unsustainable will always come crashing down, including pyramid schemes like Social Security and Medicare.
Big Government--primarily at the federal level--must be reduced to its Constitutional bounds, and the United States--the Federal government, the States, businesses, and the People--must stop gorging on unnecessary money printing, accounting doublespeak, and debt issuance (and yes, that includes debt used to finance the defense of non-U.S. citizens and non-U.S. territory in violation of the Constitution, as well as foreign and domestic give-aways).
Otherwise, we--and all our posterity--will end up in the dustbin of history, impoverished and in slavery to others, and the "last best hope for man" will be extinguished.
‘I think they should cut it out but I also think they should pay back what they stole from us that is only fair.’
The government only has money that it steals from other people.
Is it fair to steal from us like your parents did with you? No. It wasn’t fair than and it isn’t fair now.
The only fair thing to do is to end the program.
If they outlawed abortion, we would have ended up living with extra 60 million criminals to live with. The problem is adultry. Sexual revolution without abortion would have overwhelmed United State with criminal populations long time ago.
LMAO at the author, but; once again we see class warfare being started. The author never mentions the early soc sec recipients nor does he mention who they were. It is always the evil baby boomers who are the greedy no good SOB’s.
I wish these media clowns would get their facts straight. I do not go to sites that have gay/les/etc. in them.
Two wrongs don’t make a right. Money stolen from us via social security was used put into a general fund and then used by our government to fund things like the schools you all used and the roads you drive on, etc. so again I think the program should be ended but I think those who were forced to pay in should be repaid.
If it is wrong for our government to have the younger generation fund it (keep in mind we were FORCED to do the very same thing pay in for years and years) then it is wrong not to pay us back. A lump sum would be fine with me :).
btt
“A lump sum would be fine with me.”
Where’s the money going to come from?
The government is bankrupt. Are we going to borrow more money so that you can get your lump sum?
The only fair decision is to end the program.
What happens when the program goes bankrupt anyways? Are we young folks going to have to pay 100 percent taxes?
Illegal mexicans are really the worst investment....In my opinion.....
They have the worst health care....yes they get it free at the ER but they have no preventive care which would help them in the long run.
When they work here they work long hours for really nothing then take the money back to mexico. Most of them go back to mexico when they have worked here a few years. Most really don’t want to stay.
Most have done crimes and are a burden to our justice system.
We should start up WPA and build that damn boarder fence!!!
No. they would have STARVED to death - thereby eliminating the NEXT generation of VOTE bought trough suckers.
WE are the ones who continue to SUBSIDIZE more and more illegitimate children every year.
I haven't gotten a refund in years, I always try to owe the most possible without having to pay a penalty. Getting a refund basically means you gave the government an interest-free loan over the year.
There is no such thing as a net debt. Get it clear for once, for the love of Mammon if not of somebody else. You can't owe anything without someone owning the receipt of it.
The geezers have nice fat mutual fund accounts full of all of the bonds receiving all of the interest on all of the mortgages and all of the government debt and all of the munipical debt in existence. And they won't take it with them.
Every time I hear this nonsense about Americans being poor I trot out the same fact - The net worth of the US household sector is north of $54 trillion. That is admittedly down from its nosebleed highs in 2006, but up $2 trillion from the March lows, following the bounces in the real estate and stock markets.
In the 2nd quarter of this year, Americans had a disposable income (meaning after taxes) of $2.7 trillion (the annual rate is 4 times that). But over and above that, the value of the assets they own, increased another $2 trillion. Just in that quarter.
Then commentators turn around and pretend to be surprised that consumer spending can hold up, or increase again.
We are not poor and we are not going to be poor.
Yes it is silly for the government to try to pretend it can shovel vast portions of the nation's income from one class of people to another, and to shovel it especially from the working population that owns the least, to the elderly population that owns practically everything. But it doesn't matter a hill of beans in the long run, because it can't succeed, it is facing a gale force headwind of interest on the one hand (which retransfers assets from the general taxpayer to the rich who own all the bonds) and the mere passage of time on the other (which retransfers assets from the old to the young as the old die and the young inherit their real property).
My willingness to freely contract debt to carry assets is not reflected in signing over anything to anyone without return, nor is any debt we contract. I am indeed perfectly willing to contract debts at modest interest rates to carry valuable assets like real estate and I do so. No, it doesn't ruin me, thank you very much.
And no, the debt involved is not to them dang ferrners, it is largely to the US retired population. Should be raise savings rates to finance all of our capital investments domestically, sure, it is prudent to do so. Is it ruinous to instead borrow at 3.5% to carry investments earning much more than that, no not remotely.
I do not believe that debt is robbery or paying interest is slavery. You apparently believe both, without having noticed that it is core socialist doctrine, not free market anything. Men paid bond interest deserve every cent of it. Men who receive present values in return for those future payments did not receive nothing and were not robbed. They are not paying back more than they received, they are one party to a fair exchange that can and does benefit both.
I'd be all for zero'ing entitlements tomorrow to reduce taxes and balance the federal budget. I don't need them. But if the people want to keep them going it is their choice. They just take the consequence - that much of the transfer involved will be reversed by payments to bond holders down the line. That is fine with me if men want to engage in it, and I will be sure to arrange to be on the receiving side of such payments when the time comes. No skin off my nose either way.
You can't enslave anyone in charge of their finances and aware of how all of it actually works.
Meanwhile, back on the original point of intergenerational transfers, my point remains that all of the value held by our retired class in their bond investments and their pensions, will pass to their heirs in the ordinary course of time, regardless of anything the government tries to do about any of it, or how it finances anything in the meantime. The net worth of Americans today is $54 trillion, and a generation from now it will be much more than that, probably $100 trillion. All of it will be owned by men still walking around at that future time. They will therefore not be in poverty.
You can take that to the bank. There is nothing men alive today can do, that will prevent it, because the capital value will still be there. Its source is not a policy or a game with financial shenanigans, but the growing productivity of the American people and the real wealth that necessarily supports.
I maintain that it is impossible to "enslave" a free democratic people merely by issuing debt, or putting entitlement laws on the books (which they can in fact reverse at any time). And particularly impossible for a present generation to destroy all the future real wealth their children are going to enjoy. Dead people don't own anything.
If you think total future wealth is going to be less than today's, then you can speak of an impoverishment of a future generation, but it is poppycock, isn't happening, and isn't going to happen. It would require a continually negative future for GDP, aka endless recession, not anything that can be accomplished by mere financing. Certainly the mere issuance of debt domestically cannot have that consequence, because the debt will at all times be owned by some living person, and then by his heirs and assigns, etc.
I've already told you I don't care whether entitlements are continued or abolished, and would support abolishing them outright, as a useless game and a fiscal improvidence. But merely because I do not agree with you that their existence constitutes "slavery" of young to old, you pretend that I advocate them etc.
That is called "lying".
No, it is not a requirement of freedom or commitment to liberty or to capitalism, that everyone on earth agree with your overly pessimistic assessment of the consequences of debt issuance.
You think it horrible, I think it self defeating as an attempt at income redistribution, because it redistributes in two largely offsetting directions at different times, and defeats the intentions of its enactors. Stop pretending my diagnosis of its being folly is some defense or advocacy of it. I simply don't consider it ruinous, I consider it largely pointless.
Issuing debt today to pay for a necessary war is perfectly sensible. Issuing debt today to fund higher consumption is a free choice and probably a dumb one, but one that free men are free to make. Issuing debt today at low rates to carry productive assets that would not otherwise be financed is perfectly sensible. Debt as such has no moral quality; it depends on what you get for it.
If all it does is finance entitlement transfers, I think the answer of what you get for it is "precious little, and virtually nothing in the long run". Not "slavery", but also not anything choiceworthy.
Your approval of my judgment of the matter is not required by anyone under the sun. Not freedom, or liberty, or conservatism, or puppy dogs, or apple pie at Christmas. Nobody needs your OK in the matter for a damn thing.
Let’s leave it at that, shall we? We’ve argued our positions as best we can, I trust, and still we vehemently disagree. I would leave you with one final quote from Jefferson:
“We believe—or we act as if we believed—that although an individual father cannot alienate (disconnect, i.e. confiscate -LF) the labor of his son, the aggregate body of fathers may alienate the labor of all their sons, of their posterity, in the aggregate, and oblige them to pay for all the enterprises, just or unjust, profitable or ruinous, into which our vices, our passions or our personal interests may lead us.”
FRegards
And no, they simply can't. Free men can decide later anything they please. They can complete eliminate entitlements, or alter their terms and availability, or they can fund them with taxes of any kind with any incidence, or they can repudiate any of it. Slaves can't, and comparing one to the other is at best hyperbole, and more accurately mere hysteria.
Men who know nothing of economics continue to try to substitute their newspeak moralism about the feel of words for economic thought, and it is all nonsense.
As for "leaving it", you can walk away any time you like. I'm not trying to convince you of anything, I know you to be a fool and it is pointless trying to teach fools. I shoot down your idiocies for the sake of third parties you might mislead, nothing more.
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