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Tired Of Bending Over (Social Security)
Komo1000news ^
| 2/28/04
| Ken Schram
Posted on 02/26/2004 7:27:30 PM PST by qam1
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1
posted on
02/26/2004 7:27:31 PM PST
by
qam1
To: qam1; ItsOurTimeNow; PresbyRev; tortoise; Fraulein; StoneColdGOP; Clemenza; malakhi; m18436572; ...
Xer Ping Ping list for the discussion of the politics and social aspects that directly effects Generation-X (Those born from 1965-1982) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details.
2
posted on
02/26/2004 7:29:49 PM PST
by
qam1
(Are Republicans the party of Reagan or the party of Bloomberg and Pataki?)
To: qam1
Get ready to bend over, baby-boomersBOHICA (bend over, here it comes again)
3
posted on
02/26/2004 7:31:13 PM PST
by
Born Conservative
(Some mornings it just doesn't seem worth it to gnaw through the leather straps.)
To: qam1
Hey, here's an idea Alan.Here's another. Gut the program and give us our damned money back.
4
posted on
02/26/2004 7:32:32 PM PST
by
TomServo
("What a day. I invented Gainesburgers and I didn't even mean to!")
To: qam1
we should all start collecting our guns for the coming TAX WAR, when we are to pay 75% of our income for social security.
5
posted on
02/26/2004 7:37:17 PM PST
by
GeronL
(http://www.ArmorforCongress.com......................Send a Freeper to Congress!)
To: qam1
It never has been there. You just now finding it out?
What Social Security Trust Fund
"The U.S. Supreme Court ruled in Fleming v. Nestor (1960), 363 US 603; that there is no Constitutional right to Social Security benefits. Social Security benefits can legally be cut or eliminated at any time, and beneficiaries have no recourse. The Court held that, "To engraft upon the Social Security System a concept of 'accrued property rights' would deprive it of the flexibility and boldness in adjustments to ever changing conditions which it demands."
HELVERING v. DAVIS, 301 U.S. 619 (1937)
- Title VIII(Social Security Act), as we have said, lays two different types of tax, an 'income tax on employees,' and 'an excise tax on employers.' The income tax on employees is measured by wages paid during the calendar year. Section 801 [26 USC 3101]. The excise tax on the employer [26 USC 3111] is to be paid 'with respect to having individuals in his employ,' and, like the tax on employees, is measured by wages.
- . The proceeds of both taxes are to be paid into the Treasury like internal revenue taxes generally, and are not ear-marked in any way. Section 807(a)[26 USC 3501]. There are penalties for nonpayment. Section 807(c), [26 USC 7203].
Nothing has changed todate inspite of all the political rhertoric about "lock boxes" and "Trust Funds" for SS/Medicare funds, the tax that is supposed to be levied for SS/Medicare is indistinguishable in operation from what we normally refer to as the Income Tax, and is paid into general revenues in just the same manner.
THE SOCIAL SECURITY TRUST FUND FRAUD
CRS Report for Congress (98-422 EPW)
Social Security: and the Federal Budget:
"Its taxes like all other federal funds flow into the U.S. Treasury and its benefit payments flow out of the U.S. Treasury. The Treasury Department issues federal securities to the Social Security trust funds to reflect receipt of these taxes, and redeems securities from the trust funds to reflect Social Security expenditures, but the money itself flows to and from the Treasury."
"Taking the Social Security trust funds "off budget" has not changed how Social Security funds are handled. They are treated the same way today as they were in 1937 when Social Security taxes were first levied -- the tax receipts flow into the U.S. Treasury and benefit payments flow out of the U.S. Treasury. The Treasury Department issues federal securities to the Social Security trust funds to reflect the receipt of these taxes, and redeems securities from the trust funds to reflect Social Security expenditures, but the money itself flows to and from the Treasury. "
"While the trust funds have an important role in monitoring the finances of the program and maintaining its fiscal discipline, they are basically accounting devices. The federal securities they hold are not assets for the government. When an individual buys a government bond, he or she has established a claim against the government. When the government issues a bond to one of its own accounts, it hasn't purchased anything or established a claim against some other entity or person. It is simply creating a form of IOU from one of its accounts to another. It certainly establishes legal claims against the government for the Social Security system (i.e., it is a legal form of indebtedness of the government and does count as part of the federal debt; see Table 3 on the next page), but the system is part of the government. Those claims are not resources the government has at its disposal to pay for future Social Security claims. Simply put, the trust funds do not reflect an independent store of money for the program or the government, and taking Social Security "off budget" did not change this. "
6
posted on
02/26/2004 7:37:36 PM PST
by
ancient_geezer
(Equality, the French disease: Everyone is equal beneath the guillotine.)
To: qam1
My taxes have bent me over so much already, I look like a duck: beak down, ass up, and pecking for a few extra seeds.
7
posted on
02/26/2004 7:39:29 PM PST
by
Viking2002
(I think; therefore, I Freep............)
To: qam1
Here's another idea - hang around Iraq and just pump that country DRY. Instead of transferring debt to future generations of Americans (which I have no problem with), transfer it to other COUNTRIES. We could lower gas prices, pay for Social Security & Medicare, AND have a fat welfare state. Turn that axis-of-evil into an axis-of-opportunity.
8
posted on
02/26/2004 7:39:52 PM PST
by
searchandrecovery
(Justice is the final pillar to fall.)
To: qam1
If Social Security were properly adjusted for increases in life expectancy, then the recipient age would be somewhere in the late 70s or early 80s.
I like that other poster's idea; LET US KEEP AND INVEST OUR OWN DAMN MONEY.
9
posted on
02/26/2004 7:40:26 PM PST
by
xrp
To: WV Mountain Mama
Ponzi scheme PING
10
posted on
02/26/2004 7:41:47 PM PST
by
weegee
(Election 2004: Re-elect President Bush... Don't feed the trolls.)
To: qam1
As far as I'm concerned, they can just privatize the whole thing.
11
posted on
02/26/2004 7:45:18 PM PST
by
writer33
(The U.S. Constitution defines a Conservative)
To: qam1
The SS system is a Ponzi scheme designed to fail. It worked ok till the descovery of Penicillin allowed people to live past 55 years of age. Now it takes several people to support one retiree.
The Baby Boom generation (that's me)will swamp the system.
Thirty years ago I made the stastement to my family that there probably wouldn't be a SS security when I retired so I had better get prepared.
As long as I can grow a garden and raise a pig I should be fairly ok till I am just too old. I'll worry about it then.
To: qam1
Well, what the hell did he expect from a Ponzi scheme run by Big Stupid F'Kerryin' Government?
13
posted on
02/26/2004 7:47:05 PM PST
by
Hank Rearden
(Never let your life be directed by people who could only get government jobs.)
To: Ruy Dias de Bivar
Doing a proper COLA would be a start.It is always higher than actual COL.
14
posted on
02/26/2004 7:49:08 PM PST
by
MEG33
(John Kerry's been AWOL for two decades on issues of National Security!)
To: writer33
They should have let us keep our money and invest it years ago....we are going to help grandson with a Retirement Plan, NOT education. For me, one of the reasons I refused to be a career lady for the past 10 years is that I knew I would have to pay SS into a system that was broken and I never liked working for anyone THAT much. (Plus, I've been better able to support my husband at home and be politically active.)
15
posted on
02/26/2004 7:53:04 PM PST
by
goodnesswins
(If you're Voting Dem/Constitution Party/Libertarian/Not - I guess it's easier than using your brain.)
To: qam1
The baby boomers have gotten their way all their lives. They are unlikely to consent to any kind of cut in their perks now.
The sad fact is that the Social Security Ponzi Scheme gives back far less than you put into it. That's basically because the money was never invested, but was used for various vote-buying schemes as soon as it was paid in.
I've been making enormous forced social security payments for 40 years, and will get back very little in return. Most honest workers are in the same position.
16
posted on
02/26/2004 7:53:14 PM PST
by
Cicero
(Marcus Tullius)
To: qam1
Socialism does not work...Chapter 13.
17
posted on
02/26/2004 7:58:27 PM PST
by
PGalt
To: qam1
Boomers are whining because they might have to (gasp!) wait a couple of years before they get their piddly checks? And they think that's bending over?
Um, excuse me...What about the rest of us poor schmucks that will be working our cans off (3 of us for every retiree) to pay your benefits, when we in turn will get NOTHING?
I'm afraid it's the post boomers that will be getting the shaft, taking it in the backside, when this ill-conceived, fraudulent, multitrillion dollar house of cards comes crashing down. It should never have been implemented.
18
posted on
02/26/2004 8:21:12 PM PST
by
Choose Ye This Day
(I've got a fever...and the only prescription is MORE COWBELL! --rock legend, Bruce Dickinson)
To: qam1
Before I saw the parenthetical statement, I thought this was a Barney Frank story.
19
posted on
02/26/2004 8:25:00 PM PST
by
Paul Atreides
(Is it really so difficult to post the entire article?)
To: qam1
Instead of wasting my time replying to Ken Schram, I'll post my comments here. If he's a semi-bright cookie, he'll find these comments. If not, he's too slow to write to.
When a snake eats a rat, there's a bulge in the snake's body that moves downward. The same is true in demographics. The rat in that snake is the population bulge of the baby boomer generation. All it takes is a pencil and paper and the ability to do simple math to realize that Greenspan spoke the simple truth today.
When these retirees reach 65 and beyond, it will take federal taxes at the rate of upwards of 50% for EVERYBODY who still holds a job, if Social Security benefits stay both at the current levels and kick in at the same ages. Couple that with the fact that all of us are living longer and longer, and SS as we currently know it will fail grossly and totally. The problem is a no-brainer to see.
Solving the problem is much more difficult. Witness how quickly professional politicians of both parties ran screaming into the night, rather than recognize the plain, unvarnished truth that Greenspan stated today.
And it is precisely the fear of elective backlash from fools like Ken Schram that has made SS the "third rail" of American politics.
It just so happens that, when I get into Congress, I will NOT fear this or any other issue in Washington. Once you've had a couple of grandchildren and a couple of heart attacks, as I have, you lose patience with standard political bullsh*t. Whether I can successfully contribute to a solution of the SS problem, I do not know. But whether I will search out the limited number of other honest and able politicians in Washington (a minority, but maybe an effective one), have no fear. I WILL do exactly that.
Congressman Billybob
Click here, then click the blue CFR button, to join the anti-CFR effort (or visit the "Hugh & Series, Critical & Pulled by JimRob" thread). Don't delay.
20
posted on
02/26/2004 8:25:25 PM PST
by
Congressman Billybob
(www.ArmorforCongress.com Visit. Join. Help. Please.)
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