Friend, you and everybody who gets a SS check are going to have to get used to the fact that you were taxed all your working life, and there is no return on that tax paid.
You now get an entitlement check from the government, which will continue until they can’t pay it anymore. After that, you won’t get it anymore because we’ll be out of money
Plan accordingly.
Well said.
“You now get an entitlement check from the government, which will continue until they can’t pay it anymore. After that, you won’t get it anymore because we’ll be out of money.”
This would have been true if we were on the gold standard. In theory, if you’re on the gold standard you can’t print more money than can be backed up with gold at the legally set price. However, LBJ wanted to carry on the Viet Nam war and engage in the largest social program ever attempted. (Actually, it was a wealth redistribution scheme, but that’s a whole article.) To do this without raising taxes LBJ printed more money than the US had gold to back it at the then legally set price. Charles de Gaulle, then the head of France, realized LBJ had done this and he started buying dollars and converting them into gold. President Nixon took us off the gold standard to prevent de Gaulle from draining the national treasury. After that, with money no longer limited by the amount of gold you had the money supply growth became exponential. In 2008 Obama doubled the money supply and in 2009 he doubled it again. The government is currently creating 87 billion dollars per week.
One might ask, if the government can create money without taxation, why does Obama want to raise taxes? The answer is to remove wealth from private hands and put it exclusively in government hands and the hands of specially selected cronies.
Ditto! It’s always been a tax, no more, no less.
Fleming vs Nestor- (SS as a ‘social contract’)
=The Court ruled that no such contract exists, and that there is no contractual right to receive Social Security payments. Payments due under Social Security are not “property” rights and are not protected by the Takings Clause of the Fifth Amendment. The interest of a beneficiary of Social Security is protected only by the Due Process Clause. (wiki)
As it stands today and everyday since we started getting our Socialism Security, we have to pay income tax on every damn cent!
The US Congress is a sick joke that has been incestuously reproducing itself since 1913!
Down with the fruitcake Bronco Bama and down with the corrupt US Congress and the Soopreme Kort!