Social Security Scam Keeps On Ticking By Herman Cain

The New Voice ^ | May 17, 2006 | Herman Cain

[K-oneTexas]

Another good article dead-on the issue. The question we need to ask on this and other issues is "Are our elected representatives listening?" And "Are they listening to us in sufficient numbers?" Maybe not.

(I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))

[lilylangtree]

Social security was a good idea that went bad in the hands of Congress. Eliminate social security altogether and there won't be a problem.

[Indy Pendance]

Social Security was never a good idea. It was implemented during a scare, even the name 'social security' is a travesty. The downfall of America took a heavy hit in the 30's.

[HonestConservative]

"A third factor, and one not often discussed, is that Congress spends the surplus Social Security tax revenues every year on other government programs and discretionary "pork" projects. Members of Congress have been spending the Social Security surplus since the program was enacted, because the program was never intended to solely fund our retirement pensions. "

Bottom lined quite nicely right there, don't you think?

Good way to protect money intended for savings or investment is not to spend it. But that's just me.

[MichiganConservative]

And "Are they listening to us in sufficient numbers?" Maybe not.

Do enough people even want a change? I would be that there are a majority of happy houseslaves that won't wake up to the fact that SS is in trouble till they stop getting their opiate-like platitudes or checks. Then they'll cry for the government to "do something". Personally, I'd like to see SS scrapped. It's nothing but a massive fraud.

[kittymyrib]

Isn't lying about the true financial picture of Enron why Ken Lay is going to prison for the rest of his life? Why shouldn't the members of the House and Senate be locked up for continuing to lie about this massive Ponzi scheme? And now they want to load 20 million illegal aliens and their families onto the system to collect not only retirement, but disability and death benefits as well. This is truly criminal behavior on the part of our government.

[UnklGene]

[MichiganConservative]

There you go throwing around loaded words like "criminal". Don't you know that our betters and masters in Congress are above the law?

We just need to shut up an listen to what they tell us to do because they're smarter than us.

[goldstategop]

Social Security was never meant to become a person's sole retirement income. It was supposed to be a safety net to prevent retirees from becoming completely insolvent. But it morphed over time into an income guarantee program and as it stands, down the road it won't pay out the full promised benefit sum. That's why changes have to be made. I don't see the Democrats' plan getting anywhere - raising the retirement age coupled with tax increases AND benefit reductions is a political non-starter. We need personal savings accounts but thanks to the demagoguery of the Democrats, no one is going to do something to fix the Social Security problem anytime soon.

(Denny Crane: "Every one should carry a gun strapped to their waist. We need more - not less guns.")

[Mr. Bird]

It was never a good idea. It's probably the most egregious incursion on individual liberties this country has ever accepted. Just take away all of the theoreticals, the "hidden" costs to the taxpayer, and accept that fact that the government is raping you for nearly 10% of your paycheck. Social Security is a monumental atrocity. It's time to rip the band-aid off.

[Extremely Extreme Extremist]

Personally, I'd like to see SS scrapped. It's nothing but a massive fraud.

I wish they'd let workers who choose to opt out of the system voluntarily don't have to contribute anything to it.

[Waco]

t must be solid or they wouldn't be adding illegal aliens who ain't SUPPOSED to get it, right??? Smirk

[MichiganConservative]

That would be nice and I'd take it. But that would be letting us have a say in our own future. They can't have that.

[supercat]

If someone is deeply in debt, and keeps on paying off current credit cards by transferring the balances to new credit cards, will that be a good solution for getting out of debt? Will raising the person's credit limits improve the situation?

If purchase a television set today for $500 with a "zero interest until 2007" deal and then pay it off on December 30, will I have spent $500 on December 30? Or will I have really spent it today?

Fixing Social Security will require an influx of cash, but it won't require "spending" anything. THE MONEY HAS ALREADY BEEN SPENT. Transitioning to a private-accounts system will require cash to repay those who have paid into Social Security; this is not a cost of transition, however, but rather a cost of past policies and would have to be borne someday even if there were no transition program.

[supercat]

I wish they'd let workers who choose to opt out of the system voluntarily don't have to contribute anything to it.

The system would collapse instantly if they did that.

[Irontank]

We need personal savings accounts but thanks to the demagoguery of the Democrats, no one is going to do something to fix the Social Security problem anytime soon

I don't need the government to require me to set up a personal savings account, thanks. I think I can manage my own money

[Buffettfan]

Have no fear, when the senate makes illegal aliens eligible for SS, that will solve the problem. NOT!

[K-oneTexas]

Yeah. This one baffles me. It appears from all that has been written that illegals are getting "fake" social security cards and paying in. So now when the become legal they will be able to get their social security payments out (just like you & me).

This is where I get confused. Because if you or I got a "fake" or fraudulent social security number/card we would be guilty of a felony. Now, if an illegal would get "fake" or fraudulent social security number/card then they would be able to get their money after they became legal and retired. So, under the Senate bill, if they are here illegally and get a fraudulent social security number they get rewarded by citizenship and the money - no jail time. WOW, some lottery, not to mention a preemptive and ex-post facto "Get Out Of Jail Free Card".

Also I'm confused in that if they get a "fake" or fraudulent social security numbers/card how do they prove their "fake" or fraudulent identity to collect the money? Some conversation in the future: "I can't prove who I am but I go by many names - give me my money!" US Government employee answers: "Yes, of course. Here's your first check. Where do I send the rest?"

[goldstategop]

Of course if we brought in hundreds of millions of new immigrants who worked hard, we could postpone the hard choice of reforming Social Security for perhaps a century. From the perspective of today's politicians, amnesty may be disastrous for the country but it absolves them of the need to fix what's broken with Social Security.

(Denny Crane: "Every one should carry a gun strapped to their waist. We need more - not less guns.")

[Go_Raiders]

"Good way to protect money intended for savings or investment is not to spend it. But that's just me."

But that's the whole point. The Federal Gov't cannot invest money, it can only spend it. They currently "invest" the excess contributions in fancified IOU's that cannot accrue interest, because the underlying principal has been spent on things like bridges to nowhere.

The only legal way for Congress to do anything to improve the Solvency of the Social Security Program is to return the "surplus" to the taxpayers, preferably in the form of private retirement savings accounts.