July 22, 2010
Social Security Staggers Toward Collapse
Posted by Van Helsing at July 22, 2010 10:02 AM
Liberals often point to Social Security as the definitive accomplishment of collectivism in America. Sure it required their idol Franklin Roosevelt to set himself up as a dictator and steamroll over the Constitution, but it was worth it to guarantee that no one needs to take responsibility for their own retirement plans.
Few realize just how much money the government steals from them on behalf of this program, because employers match employee contributions, which are expropriated from your paycheck before you even see the money. This means that if you’re self-employed like yours truly, you have to pay twice as much. Four times a year I am forced to send a big fat check to Washington. Social Security takes up more space in my budget than discretionary spending. What will I get for the money? According to Gallup, most people agree that the answer is nothing:
Six in 10 Americans who have not yet retired believe they will get no Social Security benefits when they retire, more pessimistic than at any time since Gallup began asking this question in 1989. Similarly, retired Americans are now significantly more likely than they were five years ago to believe their existing Social Security benefits will eventually be cut.
Meanwhile, the government allows illegal aliens to collect Social Security, even for jobs obtained through false or stolen documents.
How long will Social Security stay solvent? It’s hard to say, when our rulers won’t let us know how bad its finances have gotten....”
You are preaching to the choir. I’m not only a reluctant SS participant but also an employer.
Since 2008 I have no employees and since unemployment has since been extended to the point that I pay 5.4% on top of employee matched benefits I cannot afford to hire any new employees. Can’t wait till I have to pay the penalty for non-insurance. Yes, that will help me employ anyone!
Please don’t blame me for being born between 19147 and 1964! If you do, you’re a real schmuck!