Posted on 05/16/2013 8:34:20 AM PDT by SeekAndFind
toilet paper will become like light bulbs you better start hording it as eventually Obama will tell you that you can only use a couple of sheets a day. Obvious consumption of Toilet paper will be a thing of the past.
I remember reading that those over 65 own over half the wealth in America.
one percent is noise.
I knew this was going to happen once they started talking about “means testing” for social security a few years ago. It is a logical development, as social security then just becomes another massive wealth transfer program. Those who produce will be taxed to fund those who do not, with the bureaucracy skimming a bunch of money off the top.
There is no law making it mandatory for anyone to sign up for Social Security when they turn 62 or 65.
And there is no law requiring them to keep, or cash, any checks they receieve from Social Security.
So how many wealthy leftists retired from the Washington Post have decided to NOT sign up for Social Security distributions?
How many wealthy democrats who have bought into Obama’s cry for more taxes so everyone can have a “Fair Share” send in extra money to the IRS at tax time?
How many wealthy leftists have decided to NOT sign up for Social Security distributions?
So those who contributed the most to the system should voluntarily receive nothing from it.
I have a more fair and moral idea than intimidation and theft. Offer them a buyout, all the money they paid in plus a fair rate of return.
How about cutting benefits to those who never paid in? There’s a LOT more of those.
People believe that Social Security is an “earned right.” That is, they think that because they have paid Social Security taxes, they are entitled to receive Social Security benefits. The government encourages that belief by referring to Social Security taxes as “contributions,” as in the Federal Insurance Contribution Act. However, in the 1960 case of Fleming v. Nestor, the U.S. Supreme Court ruled that workers have no legally binding contractual rights to their Social Security benefits, and that those benefits can be cut or even eliminated at any time.
Nestor sued, claiming that because he had paid Social Security taxes, he had a right to Social Security benefits.
The Supreme Court disagreed, saying “To engraft upon the Social Security system a concept of ‘accrued property rights’ would deprive it of the flexibility and boldness in adjustment to ever changing conditions which it demands.” The Court went on to say, “It is apparent that the non-contractual interest of an employee covered by the [Social Security] Act cannot be soundly analogized to that of the holder of an annuity, whose right to benefits is bottomed on his contractual premium payments.”
The Court’s decision was not surprising. In an earlier case, Helvering v. Davis (1937), the Court had ruled that Social Security was not a contributory insurance program, saying, “The proceeds of both the employee and employer taxes are to be paid into the Treasury like any other internal revenue generally, and are not earmarked in any way.”
Social Security is simply a payroll tax on one side and a welfare program on the other. Your Social Security benefits are always subject to the whim of 535 politicians in Washington.
Tell ya what, Washington Post.
I’ll waive my Social Security payments on retirement (not that I expected to see them anyway. . . .), IN RETURN for not having to pay FICA anymore, and my IRAs and 401Ks proceed to me tax-free.
Somehow, I doubt they’ll like that idea. . .
“So those who contributed the most to the system should voluntarily receive nothing from it.” — pretty much how the Federal Government survives.
SSI...Social Security INSURANCE...if you paid the premiums, you should get the benefits.
Now, now. Do you really think you could fend for yourself with just an extra 12% of all your earnings invested over 45 years of work? The government has to work really hard to get you no return for those ‘contributions’.
This is trouble with programs like Social Security, Medicare and, soon, Obamacare: Even those who bitterly oppose these programs are FORCED to pay into them throughout their working lives, thereby forgoing hundreds of thousands of dollars.
As a result, even these “philosophical opponents” of the programs end up, in retirement, saying (quite justly), “Well, I paid in, against my wishes, but I paid! Now it’s my turn to collect what little I can!”
It has always been a mystery to me that people would eagerly seek dependence on Medicare and Social Security controlled by an all powerful government. The actuarial cost of both programs are directly increased when people live longer and decreased significantly if people’s life spans are shortened.
If the government ever figures out how to kill off those who vote against them and spare those who voter for them, they will be in liberal paradise.
Just saying.
BULL!
Only provides MORE MONEY FOR LIB’S TO BUY VOTES!
NOTHING is “saved”!
There is no “lockbox”!
It is ALL in the General Fund!
May we recommend those rich, 1% Hollyweird Execs to lead by example. After all they spend millions on their Bam they believe in so much. Why do they need their SS checks when they rake in multiple millions? Step up to the plate leftists? Or do you prefer the IRS to confiscate it by force?
The guy who wrote this has his own “investment” firm? Hmmm....Don’t think I’d “invest” with him....What you reward you get more of....what you penalize, you get less of....sheesh. Guess he wants more poor....
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