Posted on 08/14/2010 12:23:10 PM PDT by Justaham
Privatize it and take away the biggest source of easy spending cash Congress has for their Pork/Social/Political Favor programs?
No way in Hell! That would be like taking away your kids Blackberry or their ipod, or their 56 inch LCD TV!
Social Security destroyed itself when its creation was based on an unsustainable model. It was further destroyed when the politicians got their greedy hands on the keys to the “lockbox”. There is nothing anyone can do to harm it any further.
Strikes me a as good idea, actually.
Social Security has been going the way of the Titanic for decades. Obozo is just trying to set up a scenereo where, when SS finally does sink, he can then say, "See, I told you so"!
Obama, your party runs BOTH houses of congress and the White House. The GOP cannot destroy ANYTHING.
Well. Most of us who pay attention understand that the way things are going, our social security won’t mean squat by the time most of us try to collect what we paid into.
The best we can hope for is that they continue to send out checks whether they are worth anything or not. That way, we know that we will have something to wipe with.
Sadly, the enviroweenies are sure to deny us even that. No toilet paper for you, electronic deposit of five million dollars each month.
Destroy Social Security....Obama and the Democrats are trying to destroy the COUNTRY!!!
...and it's working!!!
Not if you want to get the support of the millions of voters that are looking for an alternative.
I've posted a lot on this particular issue, but I'll repeat one key point: the mistake that the Republicans really made was to offer the ability to invest Social Security contributions in equities instead.
While that's the right thing to do in the long-term, it opened the door for endless demagoguery by the Democrats, when the inevitable downturn in equities occurred.
What they SHOULD have offered (and what Ryan is offering), is the ability to invest those funds in long-term government bonds -- just like the Social Security "trust fund". The key difference would have been OWNERSHIP of that asset -- you would have been able to pass it on to your children if you died prematurely.
The Republicans squandered a real opportunity in the early 2000's, and now I fear it's too late.
Social security according to CBO, according to the general accounting office, is ok for the next 40 years.
Lie's #1 and #2:
First, it's the Social Security Trustees that make this determination, in an annual report (which has been conveniently delayed this year).
Second, last year's report says that the "Trust Fund" will be exhausted in in 2027, which is 27 years from now.
And a bonus lie by omission: the "Trust Fund" is invested in special long-term US government bonds. So, those bonds have to be redeemed by the Social Security Administration. Where do you think the money for those bonds is going to come from? If you guessed "current tax revenues", you win the prize!
And even after that, people will draw 80 or 85 percent of the benefits if we do nothing.
Lie #3:
The projection is that incoming taxes will provide 75% of benefits through 2084.
Last year's report is here: http://www.ssa.gov/OACT/TRSUM/index.html
I would expect Reid to be better informed.
” While that’s the right thing to do in the long-term, it opened the door for endless demagoguery by the Democrats, “
Which they will now proceed to repeat, only this time with even more lies. AFTER you win, NOT before.
This coming from the all-time Destroyer-In-Chief.
Gotta tell ya, it takes a gall the size of Jupiter to say most of what this A-hole says.
Our Social Security
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program. He promised:
1.) That participation in the Program would be completely voluntary…
No longer voluntary
2.) That the participants would only have to pay 1% of the first $1,400 of their annual incomes into the program…
Now 7.65% (double for self employed) on the first $90,000
3.) That the money the participants elected to put into the program would be deductible from their income for tax purposes each year…
No longer tax deductible
4.) That the money the participants put into the independent ‘Trust Fund’, rather than into the ‘General Operating Fund’, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program, and…
Under Johnson the money was moved to The ‘General Fund’ and Spent
5.) That the annuity payments to the retirees would never be taxed as income…
Under Clinton & Gore, Up to 85% of your Social Security can be Taxed
Since many of us have paid into FICA for years and are now receiving a Social Security check every month — and then finding that we are getting taxed on 85% of the money we paid to the Federal government to ‘put away’ — you may be interested in the following:
Q: Which Political Party took Social Security from the independent ‘Trust Fund’ and put it into the ‘General Fund’ so that Congress could spend it?
A: It was Lyndon Johnson and the Democratically controlled House and Senate
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party
Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, with Al Gore casting the ‘tie-breaking’ deciding vote as President of the Senate, while he was Vice President of the US
Q: Which Political Party decided to start giving annuity payments to immigrants?
A: Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!
After violating the original contract (FICA), fast forward to today, with the Obama Administration, and democratically controlled House and Senate, turning around and telling you NOW, during a fall 2010 campaign, that the Republicans want to take your Social Security away…
The World is Upside Down…
Re: post 133.
Excellent post. Good information for letters-to-the-editor to your local leftist fishwrap.
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