The Current FReepathon Pays For The Current Quarter's Expenses?
Posted on 08/17/2014 11:04:09 AM PDT by Lorianne
Phantom wealth cannot possibly fund unprecedented retirement and healthcare promises. The narrative that Social Security, Medicare and pension funds invested in stocks and bonds can fund the retirement of 65 million people is a misleading fantasy. The sad reality is we can't fund the enormous expense of retirement/healthcare for 20% of the populace out of our national earned income, and the savings that have been set aside are either fictitious (the Social Security Trust Fund) or based on phantom wealth created by speculative asset bubbles in stocks, bonds and real estate.
I explain the fraud of the Social Security Trust Fund in detail in The Fraud at the Heart of Social Security (January 17, 2011).
(Excerpt) Read more at oftwominds.com ...
In before the “It’s my money and I want my investment back” crowd.
It is long past time for us, as a country, to recognize both of our current parties are SELLING OUT AMERICA.
Both parties.
Bring back American jobs.
Social Security is a tax, always has been always will be.
So its...
Hey America, we drew SS out of your paychecks for 50 something years and we spent it all up.
Whatchagonnadoaboutit ??
The quote from “Animal House” comes to mind......
“You F’ed up. You trusted us”
The whole SS system is a poorly-designed fraud at best.
Inflation can eat it alive (even if they don’t dip into it)
Just another of fegovs methods to pillage Joe Citizen
And we gotta million of ‘em . hot cha cha cha.
“Bring back American jobs.”
Unfortunately, for our political class, you have to qualify that statement.
It has to be:
“Create the environment so that businesses can start, grow, and relocate to the US profitably, and allow enough of those profits to remain in private hands so that our economy grows, especially relative to the public sector expenditures”
It must also be followed by “We don’t need so many American Jobs that are state, local, and federal government”
The quote from “Animal House” comes to mind......
“You F’ed up. You trusted us”
Funny, yet both true and tragic!
I disagree.
Both of our parties are 100% sold out.
BOTH OF THEM.
Someone needs to be for America jobs. I sure hope it the Republicans who wake up and bring back jobs to America.
I really, really hope it is Republicans. But I see absolutely zero Republicans supporting American jobs.
The thing is, I also see not democrats supporting Americans jobs.
Both parties are selling out America.
Bring back jobs to America.
REPUBLICANS. Wake the “f” up, and be for American work.
My retirement income is,at the moment,more than adequate to meet my basic needs and even allow me a few luxuries.But,given that my generation and subsequent ones didn’t have *nearly* enough productive children I’m resigned to the fact that at least the last few years of my life will be very difficult ones...both medically (thanks to the coming collapse of Medicare) and financially (the collapse of Social Security).
“I disagree.”
I don’t think you read what I posted.
“Both of our parties are 100% sold out.”
political parties = government. Put your faith in either at your own risk.
Jobs will come back only if government backs away from socialism, and debt.
Jobs will return not out of patriotic duty, but out of a profit motive and the Constitutional “pursuit of happiness”.
You can’t have jobs and big government at the same time.
Neither party can exist without big government. So we have a temporary stalemate until something big enough breaks in our economy.
Phuy. What’s another 50 trillion dollars of National Debt? Big deal. Just keep printing. We can do it forever. I mean, it is not like it means anything. So we have an $80 trillion national debt. Big deal. It doesn’t really mean anything.
Just print forever. We have a party to maintain here.
There is a big problem with your approach:
Americans need jobs. We need American jobs. More Americans need jobs.
Jobs.
Both parties are building up the second largest economy in the entire world. China, a massive communist country, where frankly we don’t even own the companies we operate. Everything made in China, is (majority) owned by China.
Everything. Look at what you buy. Next time you shop for ... (anything).
China. The factories are now in China. The employees are now in China. We are giving the future to a massive one-race, authoritarian party.
The future belongs to the world. The world currently, is building up China. Rapidly. America is going into massive amounts of debt, to do this.
We are giving the future to a massive, one-race, one-party party which doesn’t even allow Americans to immigrate.
Americans need to stop tearing America down. Both parties need to bring back JOBS.
Jobs.
Bring back American jobs.
The Current FReepathon Pays For The Current Quarter's Expenses?
“There is a big problem with your approach:”
“Both parties need to bring back JOBS.”
Your approach relies on political parties. My approach relies on individuals and businesses to act in their self-interest and be rewarded for their hard work.
Who’s approach stands a chance of building real value, wealth and economic growth?
If we need jobs, why are we importing 1.1 million LEGAL PERMANENT IMMIGRANTS ANNUALLY along with 640,000 guest workers a year?
BUT, here is what was said in 1964!
http://www.socialsecurity.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government.
Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
Here is where the money went! Read and weep.
http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html#n4
And how exactly are they wrong? Or do you break contracts as it suits your fancy?
If it wasn’t for phantom wealth, I wouldn’t have a
retirement!
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