Posted on 01/11/2005 10:19:34 AM PST by Hank Rearden
Maybe if you cook up a scheme to throw "free" pills at the Sheeple, they won't notice.
Gee, too bad Bush stole the election from aLgOrE. Social Security would be safe in a lockbox right now....
His "fix" IS shuting it down. It is called privitization.
You fix a ponzi scheme by neutering the perpitrator, with a blunt chainsaw.
Sure it does - that money has been purloined by our "representatives" and any "surplus" is on paper.
IOW, there will be no social security after 2018. We already know that.
Two percent?
Shut it down completely; Ponzi schemes are illegal, right? Or not when run by Our Rulers?
Money sitting in a government "lockbox" is just like money stuffed in a mattress--your money is not earning any interest or growing in any real sense, nor is it being used to help the economy, in fact, it is losing ground to inflation. Yes, the government is paying interest on treasury bonds, but this doesn't come from anywhere but the government itself. This is like you putting your retirement savings in a sock and putting a little extra in the sock for 'interest'. The money hasn't really earned any income from outside sources. We would be better buying CD's from a bank, at least we would be earning some interest.
There is no "Trust Fund", there is no "Lock box" and there is no "Surplus". Every cent the Government collects in taxes today was spent long ago. Filling up file cabinets with Treasury Bonds that will have to be redeemed with newly collected money, aka taxes, is not a surplus, it's a debt.
Perhaps if the Treasury invested in Canadian, Mexican, French or German government bonds the system could be saved.
Flip side: the money under the matress or in the sock is hard real spendable cash, not bits in a computer or (more relevant to SS) an accounting trick.
Yes, of course. Scams piled on top of scams, on top of scams. An unworkable scheme, with unlimited obligations, created by political parasites who were dead before I was born.
Good thing we're Free.
Chain letters always have a way of coming to an end. Too bad the rulers pulled this on an unsuspecting public. They will pay the benefits if they have to let the presses roll 24/7, you can have confidence in that. Of course, 1 loaf of bread will bring 40 dollars by then.
Actually, it's more like writing an IOU to yourself for retirement, then blowing the cash. Trust fund my a$$. If I took out a collateral loan, then spent the collateral I'd get screwed. If the government does it, it's SOP and no one wants to rock the boat.
The thing that caught my attention in this article was the 5 year time frame.
And this is precisely what the conservatives who voted against Social Security predicted would happen. They would have been right long before this had the feds not been juggling the books the past 45 years to keep this scam going. Aborting 25% of the next generation of taxpayers while lengthening the life of the elderly only made the end come a little sooner.
That's why I posted it. The people getting the loot, and the politicians handing out the loot to buy votes, are desperate to keep the music playing as long as possible. But we're still a few chairs short.
Personally, I've been planning for the real crunch to begin somewhere in the 10 to 15 year time frame.
And Bush thinks he can "fix" this scam, instead of shutting it down. Sure, George; how, exactly, do you "fix" a Ponzi scheme?
Maybe if you cook up a scheme to throw "free" pills at the Sheeple, they won't notice.
1 posted on 01/11/2005 10:19:35 AM PST by Hank Rearden
[ Post Reply | Private Reply | View Replies | Report Abuse ]
Chain letters always have a way of coming to an end. Too bad the rulers pulled this on an unsuspecting public. They will pay the benefits if they have to let the presses roll 24/7, you can have confidence in that. Of course, 1 loaf of bread will bring 40 dollars by then.
11 posted on 01/11/2005 10:57:04 AM PST by Goreknowshowtocheat
[ Post Reply | Private Reply | To 6 | View Replies | Report Abuse ]
So true! If you die before you start collecting social security, your family gets NOTHING!! A wife can collect from her husband's share, but other than that -- ZILCH!! That has always bothered me. I am supporting everyone else, and maybe, just maybe, there will be something left for me -- NOT!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.