Social Security Raid
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 Congress’s appalling handling of Social Security makes Hoffa’s misuse of Teamster pension fund monies pale by comparison. Just because it’s Congress, however, doesn’t make it any less criminal than what Hoffa and company did. And, it certainly doesn’t justify compounding the felony by means testing Social Security and stealing workers’ paid-in contributions and cutting their earned Social Security benefits in the name of some higher “national need. . .something the nation does for its collective good” as Washington Post columnist Robert Samuelson demands. Read More...
 The best and most practical solution to the Social Security dilemma is simply to allow workers the freedom to choose to opt out of the program or remain in the current Social Security program unadulterated by benefit cuts, COLA chiseling, means testing, higher minimum retirement ages and other re-engineering devices. The federal government has become so bloated that the cost of allowing anyone who wants to remain in the program easily could be paid for without having to alter the program by cutting and reallocating other federal spending, still leaving plenty of room to reduce overall spending. Because Social Security has become such a bad deal, and gets worse everyday, an increasing number of younger workers will opt out, and the program will go the way of the horse and buggy. Read More...
 My conservative and libertarian friends think me a wee bit inconsistent and some go so far as to say downright hypocritical when it comes to Social Security, which is supposed to be the bête noire of all freedom-loving conservatives and libertarians. I consider Social Security to be an irrevocable political and moral obligation of the U.S. Government, a commitment to workers and retirees it is bound to discharge fully and without dilution or tampering in the name of “reform” or “deficit reduction.” Read More...
 ANOTHER AARP STAB IN THE BACK TO SENIORS -- The invite list for the secret meeting suggests that AARP is still very much open to cutting Social Security and Medicare, as a majority of this year's expected "thought leaders" have thoughts that involve slashing Social Security. Read More...
 The fix is in. Two parties, one Establishment determined to raise taxes and cut Social Security and Medicare without reforming any of them. It looks like just a matter of time and subterfuge (unless Paul stages an upset) before this president or his successor rolls up the lane and drives the bucket off a screen set by the congressional GOP for an easy redistribution slam-dunk, jammed right down America’s throat once again. Read More...
 The failure of the Super Committee to come up with a deal has confused the situation temporarily, and the conventional wisdom among the mainstream media is that seniors dodged a bullet when the Super Committee dead locked and couldn’t come up with a deal by the drop-dead date. The fact of the matter is, the gun aimed at seniors—the Chained Consume Price Index (“Chained CPI”)—is still locked and loaded; the Social Security bullet is still in the chamber just waiting on a deal over taxes for Congress to pull the trigger. Read More...
 Voters can send the candidates a simple, compelling message by signing the SSI petition to all presidential candidates demanding that they fill out the SSI Candidate Survey on Social Security: “If you don't respect me enough to be straight with me on Social Security and fill out the SSI Social Security Survey, I won't trust you enough to vote for you. No Survey = No Vote.” Read More...
 It’s not bad enough Wall Street gets bailed out by taxpayers; its mouthpiece at the Wall Street Journal also wants to stiff middle-class workers even more by reducing the pitiful rate of return they can expect from Social Security when they retire. As the WSJ recently boiled down Social Security’s fiscal straits: “...the problem is that current seniors get more than they put in. . .”
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 What needs to be discussed about Social Security is not the Ponzi scheme element but that it is forcibly imposed on all working people in the country, nevermind whether they want it or not. It would be quite enlightening if this aspect of Social Security were debated. That would bring up a central feature of most governments, namely, their coercive nature. Read More...
 Entreaty to Congress: “You have sat too long for any good you have been doing lately ... Depart, I say; and let us have done with you. In the name of God, go!” Go away Washington, and let the automatic sequester spending cuts kick in. Read More...
 While the liberal Democrats are wrong when they say nothing is wrong with Social Security that expanding the base of the Ponzi pyramid won’t fix, they are right to say the program is not in immediate financial jeopardy, and it is not part of the current deficit and debt problem. While Republicans are right to say Social Security is financially unsustainable as currently configured, they are wrong to say it is, therefore, necessary to turn it into a welfare program and cut back benefits, not only for future recipients but also current retirees. Read More...
 For the last ten weeks politicians have been harping about the out-of-control social costs of Social Security and Medicare and our immediate need to raise taxes and reduce benefits. These political ideologues are liars. . .According to the Social Security Administration, the average recipient collects $500,000 in retirement benefits but pays in only $278,000. Wrong! What they conveniently don't mention is that if the average beneficiary pays in $278,000 and the employer matches that with an equal amount, SS collects $556,000 per recipient. Read More...
For more than a quarter century after the 1983 amendments to Social Security, the federal government collected more in Social Security payroll taxes each year than it paid out in benefits. Those surplus revenues were supposed to be saved but instead Congress spent every last dime of them and replaced the excess payroll tax revenue it looted from the Trust Fund with IOUs written to itself. At the end of December 2010, the federal government owed the Trust Fund $2.609 trillion to be exact...
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For those of us who follow closely the federal financing scam called the Old-Age, Survivors, and Disability Insurance (OASDI) and Hospital Insurance (HI) Trust Funds, more commonly known as the Social Security and Medicare Trust Funds, nothing here in Gary North’s new article on the subject is surprising... Read More...
In a recent Howard Ruff interview with John Williams of Shadow Government Statistics Blog , Williams said, “Because of the changes in the 1990s [in the way cost of living—COLA—adjustments are made], our Social Security checks are about half what they should be!”
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If you think the way Congress raids the Social Security Trust Fund is detestable, you will be sickened and outraged by what Senator Ted Kennedy has in store for America under the guise of “healthcare reform.” It will be the Raid on Steroids...
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Federal Officials have known for years the Social Security Trust Fund is an accounting ruse and the so-called Trust Fund surpluses were a deception. Here is what a few of them have said about it...
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