So called social security

[jodog]

> >Subject: Social Security



> >

> > >> >

> > >> > Perhaps we were asking the wrong questions in

> > this

> > >> > past election year. Our Senators/Congressmen do

> > >> > not pay into Social Security, and, therefore

> > they

> > >> > do not collect from it. Social Security

> > benefits

> > >> > were not suitable for them.

> > >> >

> > >> > They felt they should have a special plan. Many

> > >> > years ago they voted in their benefit plan. In

> > more

> > >> > recent years, no congress person has felt the

> > need

> > >> > to change it. After all, it is a great plan.

> > >> >

> > >> > For all practical purposes, their plan works

> > like this:

> > >> >

> > >> > When they retire no matter how long they have

> > been in

> > >> > office, they continue to draw their same pay

> > until they

> > >> > die, except it may be increased from time to

> > time by the

> > >> > cost-of-living adjustments. For example, former

> > Senator

> > >> > Bill Bradley (New Jersey) and his wife may be

> > expected

> > >> > to draw $7,900,000. 00 over an average life

> > span, with

> > >> > Mrs. Bradley drawing $275,000. 00 during the

> > last year

> > >> > of her life. Their cost for this excellent plan

> > is "$0",

> > >> > nada, zilch. This little perk they voted in for

> > themselves

> > >> > is free to them.

> > >> >

> > >> > You and I pick up the tab for this plan. Our

> > tax dollars

> > >> > at work! From Social Security, which you and I

> > pay into

> > >> > every payday for our own retirement, with an

> > equal amount

> > >> > paid in by our employer, we can expect to

> > receive an

> > >> > average of $1,000 per month. We would have to

> > collect

> > >> > our benefits for 68 years and 1 month to equal

> > the Bradley's

> > >> > benefits.

> > >> >

> > >> > Imagine for a moment that you could structure a

> > retirement

> > >> > plan so desirable, a retirement plan that

> > worked so well,

> > >> > that Railroad Employees, Postal Workers, and

> > others who were

> > >> > not in the plan would clamor to be included.

> > This is how good

> > >> > Social Security could be, if only one small

> > change was made.

> > >> >

> > >> > That change would be to jerk the Golden Fleece

> > Retirement

> > >> > Plan out from under the Senators & Congressmen.

> > Put them

> > >> > into the Social Security plan with the rest of

> > us. Watch

> > >> > how fast they fix it!!!

> > >> >

> > >> > If enough people receive this message maybe a

> > seed will

> > >> > be planted, and maybe good changes will evolve.

> > >> >

> > >> > Don't forget, our girl, Hillary Rodham Clinton,

> > now comes

> > >> > under this Congressional Retirement Plan.

> > Talking about

> > >> > the Clinton's, it's common knowledge that, in

> > order for

> > >> > her to establish NY State residency, they

> > purchased a

> > >> > $ million + house in upscale Chappaqua, NY.

> > Makes sense.

> > >> >

> > >> > Now, they are entitled to Secret Service

> > protection for

> > >> > life. Still makes sense. Here is where it

> > becomes

> > >> > interesting.

> > >> >

> > >> > A residency had to be built in order to house

> > the Secret

> > >> > Service agents. The Clinton's now charge the

> > Secret

> > >> > Service rent for the use of said residence and

> > that rent

> > >> > is just about equal to their mortgage payment,

> > meaning

> > >> > that we, the tax payers, are paying the

> > Clinton's mortgage,

> > >> > and it's all perfectly legal.

>

 

[Power Wagon]

That very argument was posted here:



https://www.turbodieselregister.com/forums/showthread.php?s=&threadid=31242





This issue is demagogued to death. There is endless ranting on the subject, but the real truth is what I posted in response to it:

<hr>

I must disagree with you on this. There is no fix for social security... It cannot be repaired. It is fundamentally and fatally flawed. It is not possible to fund 5, 10, 15, or even 20 years of retirement by transferring money from the workers to the non-workers. It is too expensive. In 40 years, the cost of SS will be equal to half of our gross paychecks. And that doesn't include medicare, income taxes, or anything else. If nothing is fundamentally altered, government will consume more than 100% of our earnings in less than 50 years.



The fundamental flaw here, is that it is impossible to create a national retirement system that supports long-term retirement with transfer payments. I say "long term" because when SS was concieved, somewhere around 10% of Americans ac tually lived long enough to collect any, and those who did rarely collected more than 2 years. We are now funding people for more than 2 decades, and that's why stealing from the working, and giving to the non-working is a dead-end



The ONLY cure for retirement is investment. Basically, each person needs to put away his/her own money in investment vehicles that grow. IRA's which are owned by the individual are the only feasible solution.



If we started off by elimenating social security for every person born starting Jan 1, 2002, and maintaining the benefits for those now living under the system, and everyone entering starts a private plan, our children will be able to retire before they die. But if we maintain our determination to keep the "retirment by theft" system we have now, there is no hope. If we're going to maintain any solvency at all, the retirement ages will shortly be well over 80, and the "benefit" will be so small as to be starvation. All the last 40 years of borrowing and "notes" the government has floated which "pay interest" to the social security system are now coming due and will be, and since 100% of it has to come from the taxpayers, we're now stuck... Fewer and fewer of our tax dollars pay benefits, and more and more are now dedicated to "redeeming" notes from one part of government to another.



It's as if you had two checking accounts, and when one runs out of money, you "borrow" from the other "with interest". Of course, when it comes time to pay it back, you realize that the "investment" the lending account did merely costs you both the "loan" and the "interest" as well. Such is what SS and the treasury have been doing for decades. "borrowing" money from SS to spend. Now we have to "pay" it back. But since we fund ALL government spending, the accounting tricks are nothing more than a fraud on the people.



But hey, since nobody actually bothers to explain this to the public, the Democrats demogogue endlessly, screaming about how "the other party" wants to starve old people and take away thier SS. Of course, thier actions are gauranteed to bring about this result, but since when did results matter? ONly what you can make the gullible believe.