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BEAUTIFUL! Short, but hits all the important points of Social Security. Easy read.
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2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program,
Now 7.65%
on the first $90,000
Fortunately Obamascare will take care of this problem. Kill off the old folks and save the Sockettoem Funds will be transferred to illegals and others in need!
The irony of this is that the mainstream demoRAT voter is too stupid to realize all of this is a bad thing. They’re so firmly entrenched in the RAT mentality they can’t think an original thought.
Pretty good, but a little bit misleading.
The comment on the original tax rate is incomplete and could lead one to think that proponents said that 1% would be the permanent rate. In their orginal propaganda, SS proponents openly acknowledged that the rate would escalate to 3% per year, and that would be “the most you would ever pay.” See http://www.ssa.gov/history/ssb36.html for the official 1936 Government Pamphlet on Social Security.
The e-mail also would lead the reader to believe that Democrats have only cut the benefits to deserving recipients through taxation, but this is also incorrect. Democrats have also passed legislation that greatly increased benefits. As originally set up, SS had no escalator for inflation. It was a Democratic Congress that enacted the 1972 COLA legislation to inflation-adjust Social Security payments to recipients. COLA severed the last connection between SS and any resemblance to an actuarially sound pension system. However, with COLA, the Democrats awarded SS recipients with ever larger checks and assured that AARP would be in their coalition of special interests for decades to come.
The e-mail critique is generally correct, but it does not address the chief flaw of SS: it is a coercive Ponzi scheme. As such, it not a pension system but rather a welfare program. Regardless of what “contributions” are called, they are taxes according to the Supreme Court. The same court has also ruled that “entitlement to Social Security benefits is not a contractural right”, and further “the noncontractural interest of an employee covered by the Act cannot be soundly analogized to that of the holder of an annuity”. In other words, SS is a welfare program. That’s the real disgrace of SS: the Democrats seduced the once fiercely independent and individualistic Americans to fall in love with a welfare program and to become dependent upon Leviathan for their welfare in old age.