Social Security: Not a Ponzi Scheme
Presidential candidate and Governor of Texas, Rick Perry, recently told a group of voters in Iowa that Social Security is “a Ponzi scheme.” This is an argument often made by those who wish to destroy Social Security, which is not an “entitlement” either. It’s a form of retirement insurance that we’ve paid into, throughout our working lives.
Nic Baumann, at Mother Jones created a handy Venn diagram that shows the difference between Social Security and a Ponzi scheme:
Rick Perry shows himself to be without a brain. Our Social Security system is a solid, financially stable part of the American system. I paid into it all my life and refuse to surrender it so corporate CEOs can have their jets and other toys.
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Now, this O’fart understands this being a blog….I also understand when asinine self-centered stiff shirt nincompoops suppress the truth for their own agenda.
But you had better understand one thing….As an American you live in a union of We the People….
America didn’t get this far because of a workers union, a people of non-union nor by a bunch of lazy @-holes with money in their pockets.
United States of America….is about the people…nothing more….nothing less and if you want to run this blog to suppress the truth….you are no better than the people that you “think” you hate.
Fault is with all Americans….and until everyone in this great union realize that…there will be more liberty, freedom and hope taken away.
“The American future is an innumerable multitude of men, all equal and alike, incessantly endeavoring to procure the petty and paltry pleasures with which they glut their lives. Government becomes the parent, as “it provides for their security, foresees and supplies their necessities, facilitates their pleasures, manages their principal concerns, directs their industry, regulates the descent of property, and subdivides their inheritances: what remains, but to spare them all the care of thinking and all the trouble of living? Such a power does not destroy, but it prevents existence; it does not tyrannize, but it compresses, enervates, extinguishes, and stupefies a people, till each nation is reduced to nothing better than a flock of timid and industrious animals, of which the government is the shepherd.” – ‘Alexis de Tocqueville
Personally, this O’fart ain’t got a need for a shepherd and if the first comment along with this one ain’t posted for all to see…I sure as he!! don’t have a need in being here either.
Good day and God Bless!
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What Nic Baumann at Mother Jones fail to point out….
The government operated the Social Security program and all transactions were reported by the administration as a separate function in the budget.
This is call “off-budget.” and was the budget representation of the Social Security program from its creation in 1935 until 1968.
At that time President Lyndon Johnson made a change in the budget presentation by including Social Security and all other trust funds in a”unified budget.” and is call “on budget.”
If Nic had taken the time to research the history of the Social Security Program on the United States of America Social Security Program web page he would have seen “Off Budget” and “On Budget” under Research Note #20: The Social Security Trust Funds and the Federal Budget.
1968 the president took $30 billion out of the Social Security System and put a IOU in its place and that money was used for Ladybird’s Great Society.
Now, from that president forward….every president took money out until the chest was left with nothing but slips of paper with IOU written upon them.
Until the American people get the jack@ss and elephant mentality out of their heads and start putting common sense and character there this great union will never be able to get out of the deep hole it has put We the People into.
There is a $100 trillion dollar shortfall in the Social Security System…..the government today operates on a daily bases…money taken in is sent right back out on programs, wages and interest on the debt.
Maybe if this site would spend a few weeks of Michael Hodges ” Grandfather Economic Report site it would also learn just how America has got itself $57 trillion in debt.
Susan, wishing you the best over the holiday but most likely this will be the last time this O’fart will visit this site.
Good day!
“Beware the leader who bangs the drums of war in order to whip the citizenry into a patriotic fervor, for patriotism is indeed a double-edged sword. It both emboldens the blood, just as it narrows the mind. And when the drums of war have reached a fever pitch and the blood boils with hate and the mind has closed, the leader will have no need in seizing the rights of the citizenry. Rather, the citizenry, infused with fear and blinded with patriotism, will offer up all of their rights unto the leader, and gladly so. How do I know? For this is what I have done! And I am Caesar
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