To: Nowhere Man
To: All
He was very brave and outspoken too. I admire him for that too. Here is one of his quick takes on Social Security before he passed on:
Why the Niggardly Social Security Payments?
Thats simple. Because Congress lied and cheated us, thats why.
When the Social Security system was set up Congress promised the taxes taken out of our paychecks would be invested in the stock market, thereby helping grow the economy and, by reinvesting the yearly stock dividends, growing the invested funds.
That didnt last long. When Congresss spending need to be covered, they quietly spent the Social Security funds. So, whats the difference? Well, in countries like Chile, where theyve done as our Congress promised, their Social Security payments are ten times ours! Indeed, in Every Man A Millionaire it explains that with the system promised us anyone making a minimum wage all their working life would end up with a million dollar Social Security fund.
Those forty-five years of re-invested dividends plus inflation can really mount up. Just with inflation, every dollar Congress stole from my fund in 1950 would be about $50 today. Plus, sixty years of re-invested dividends.
7 posted on
09/16/2013 7:03:41 AM PDT by
Nowhere Man
(Wayne Green - Silent Key - Rest In Peace)
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