Posted on 05/24/2024 8:24:59 AM PDT by DIRTYSECRET
What if the American people invested $100,000 in every newborn, purchasing a 65-year government bond on their behalf that guaranteed a 3.5% annual return? Every American, irrespective of background, would contribute to and benefit from the fund equally, eliminating disparities from unequal lifetime earnings.
Once the individual returns the initial investment to the American people, the individual should no longer owe Social Security taxes.
(Excerpt) Read more at americanthinker.com ...
Has anyone done a real study on the lottery winners or is it just media bias where the middle aged couple who invests their winnings in tax free municipal bonds and blue chip stocks never get in the news, but the lottery winner who loses a briefcase of money while trying to buy cocaine and an alligator in the parking lot of a Florida strip club will get weeks of news and late night comedy?
Wouldn’t that open up states bidding for people to move there by competing for the giveaway rates which would lead to bad taxes, bad payouts, the wrong incentives for moving and eventually an ugly mess as politicians exploited it?
But that would be a negative competition where the darker forces keep winning, it would be ruinous.
What virtuous voters are going to remain in place in their home state while other people live large in other states when they retire?
The politicians would exploit that system for generations, until the next exploitive tool was handed to them.
Or you could take the Chinese SS solution. There is none.
But that would be a negative competition where the darker forces keep winning, it would be ruinous.
Other states look at what the good states are doing. We all ready have some of that going on.
State/local politics are a lot closer to the people than nations. Out of 50 states, 12 are in teh dumps, 12 are looking good, the other average.
There is not perfect system but it is MUCH better than centralized power making decisions for everyone. That is of course, unless you have GOOD KING.
"Touch my Social Security and I’ll shank you!"
Citizens can have Social Security if they want it.
H O W E V E R ...
Federal Social Security (SS) is based on state powers that Constitution-ignoring FDR stole from the states when he established it, just like Obama did with Obamacare.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
From the congressional record, a clarification about the federal government's constitutionally limited powers by Rep. John Bingham, a constitutional lawmaker:
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
"From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added]." —United States v. Butler, 1936.
And given the corrupt federal government's reputation for destroying everything it touches, Social Security needs to be returned to the sovereign states where citizens of a given state will have more control over state people-care programs than they do through the federal government.
In order for the people to start putting the nation back on its constitutional foundations, Democratic and Republican Trump supporters must first do the following. They need to support hopeful Trump 47 with a new patriot Congress in November, not only so that he will not be a lame duck president from the first day of his second term in office, but will also support him in surrendering state powers that the unconstitutionally big federal government has been stealing from the states back to the states.
Or you could take the Chinese SS solution. There is none.
https://www.china-briefing.com/news/chinas-social-security-system-explainer/
“””””Don’t you think there might be some wise people in states that make good decisions?””””
It would be pretty lousy politicians who couldn’t convince 51% of a state’s voters of a better life against an opponent who was telling them that “sure you retire poor in this state compared to all those other states, but in 50 or 70 years those states will see the problems with their huge payouts”.
Place your bet. History has shown us that good leadership still exists and can rise to the top.
BUT, of course, that would have required actual adult involvement in both the investment program and the government.
Owning our own printing press has been a root cause of the breakdown of our governments at all levels and our society. If we had to tax and spend responsibly, with penalties inflicted on the geniuses who got us into this situation, the whole world would be better off.
Here’s the source for lottery winners. Article says 1/3 ~ 30%. Still a big number politically.
https://www.cnbc.com/2017/08/25/heres-why-lottery-winners-go-broke.html
Here’s the study for the NFL players. I had forgotten the percentage but its 78% bankrupt within 2 years of retirement. (I knew it was more then 60% but almost 80% WoW!)
https://www.kiplinger.com/personal-finance/602725/how-nfl-draftees-can-avoid-going-broke
Now how reliable are these sources? I don’t know!
Human nature being what it is, they are probably not that far off!
Now a study by CBS Sports just popped up saying its 16% go bankrupt after retirement.
Who’s right who’s wrong, who’s lying?
Don’t know!
Place a bet on a fantasy that will never happen?
By the way, look at cities and their version of pensions for city workers and the path it took and the results, and who wins the elections there in spite of it all.
I’ll be right there with you, with a corn-knife.
The Government can always tax it away.
Like most things Chinese, its a fake. No one gets any money from it. Nice propaganda, if you like swallowing.
Any reasonable idea that anyone has will not work. Congress can’t even find the time to pass the one time standard that passed the Senate two years ago. For their next drama and self-created fiasco and disaster they will put off some tax provision to replace the Trump tax cuts or just fiddle away and let the house burn again. When time is of the essence and simple is better congress can screw up a piss up in a pub. They will never act on SS until it too becomes too late and a crisis.
Before they touch SS they should have to cut welfare,snap,section 8, etc.
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